IC Markets Vs FBS

Category: Broker Guides | Author: Trading Brokers | Date: July 19, 2023

IC Markets and FBS are two popular and trustworthy forex brokers that cater to different trading needs and preferences. They have different features, fees and platforms that might appeal to different types of traders. In this article, we will review IC Markets and FBS based on various factors, such as regulation, trading conditions, platforms, research and education, customer service and more. By the end of this article, you should be able to decide which broker is the best for you.

IC Markets Overview

IC Markets

IC Markets

IC Markets, established in 2007 and headquartered in Sydney, Australia, is a reputable broker in the financial industry. The company is regulated by the Australian Securities and Investments Commission (ASIC) and the Seychelles Financial Services Authority (FSA), ensuring compliance with strict regulatory standards. IC Markets offers retail investors access to CFD and forex markets, providing them with opportunities to trade a diverse range of financial instruments. The broker offers three main account types: Standard Account, Raw Spread Account, and cTrader Account, each with its own fee structure. The Standard Account has no commission fees, while the Raw Spread Account and cTrader Account have commission fees of $3.50 per lot per side and $3 per lot per side, respectively.

IC Markets boasts favorable trading conditions with tight spreads starting from 0.0 pips, ensuring competitive pricing. The broker also prioritizes efficient trade execution, offering fast execution speeds with an average execution time of 40ms. Traders using IC Markets can take advantage of various research tools such as Autochartist and Trading Central, as well as access educational resources including webinars, trading guides, and video tutorials. With its commitment to customer support, IC Markets provides multiple communication channels, including phone, email, live chat, and various social media platforms, ensuring accessibility and assistance for its clients.

Pros and Cons of IC Markets

Pros:

  • Strong regulatory oversight by ASIC and FSA
  • Competitive pricing with tight spreads starting from 0.0 pips
  • Fast execution speeds with an average of 40ms
  • Diverse account types to cater to different trading preferences
  • Research tools like Autochartist and Trading Central
  • Educational resources such as webinars and trading guides

Cons:

  • Limited asset selection compared to some other brokers
  • IC Markets does not offer its own proprietary trading platform, but relies on third-party platforms that may have outdated interfaces or limited functionality.
IC Markets Logo

IC Markets is the world’s largest true ECN trading broker offering over 2,000 trading instruments across multiple markets on the most popular trading platforms. They are a multi-regulated broker with deep liquidity pools that can provide you with rapid trade execution speeds, low spreads, low commission fees, various funding options and 24/7 support.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

FBS Overview

FBS

FBS

FBS is a well-established forex and CFDs trading broker founded in 2009. The company is regulated by the International Financial Services Commission (IFSC) in Belize, ensuring compliance with regulatory standards. FBS offers a wide range of trading opportunities in shares, forex, commodities, cryptocurrencies, ETFs, options, and indices to a global market. The broker provides five account types: Cent Account, Micro Account, Standard Account, Zero Spread Account, and ECN Account, with varying minimum deposit requirements. FBS offers competitive trading conditions with tight spreads starting from 0 pips and fast execution speeds, ensuring efficient trade execution. Traders using FBS have access to quality educational resources and research tools to enhance their trading knowledge and strategies. The broker also prioritizes customer support, offering assistance through various communication channels, including phone, email, live chat, and social media platforms.

Pros and Cons of FBS

Pros:

  • Wide range of trading instruments including forex, commodities, cryptocurrencies, stocks, and indices.
  • High leverage up to 1:3000 for forex trading.
  • Tight spreads starting from 0 pips with no requotes or price manipulation.
  • Quality education material and research tools provided to clients.
  • Various withdrawal and deposit methods available including bank transfer, credit/debit cards, e-wallets, and cryptocurrencies.

Cons:

  • Regulation by the International Financial Services Commission (IFSC) in Belize, which may be perceived as less reputable compared to other financial authorities.
  • High fees for the ECN account type.
  • Accusations of unethical practices such as manipulating prices and stop-loss orders.
FBS Logo

FBS is a regulated brokerage offering online trading on a limited amount of Forex and CFDs via the MetaTrader platforms. They also provide a range of trading tools, market analysis and educational materials.

76.2% of retail investor accounts lose money when trading CFDs with this provider.

Comparison of IC Markets and FBS

When it comes to selecting between IC Markets and FBS , it’s important to consider several key factors that can impact your trading experience and outcomes. These factors include the following:

Regulation and Trustworthiness:

Regulation and trustworthiness are crucial factors to consider when choosing a broker. IC Markets is highly regulated by the Australian Securities and Investments Commission (ASIC) and the Seychelles Financial Services Authority (FSA), ensuring compliance with strict financial and operational standards. Similarly, FBS adheres to the regulations of IFSC (Belize) and CySEC (Cyprus), bolstering its regulatory framework. These regulatory licenses instill confidence in traders and establish a foundation of trustworthiness.

Trading Platforms:

IC Markets and FBS offer a range of trading platforms to cater to diverse trading preferences. IC Markets provides access to MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and a web-based platform. These platforms are renowned for their advanced features, user-friendly interfaces, and extensive technical analysis tools. FBS offers its proprietary platform called FBS Trader, along with MetaTrader 4 (MT4) and MetaTrader 5 (MT5), available on desktop, web, and mobile devices. Traders have the flexibility to choose the platform that best suits their trading style and needs, ensuring a seamless and personalized trading experience.

Pricing and Fees:

Competitive pricing and transparent fee structures are important considerations for traders. IC Markets offers tight spreads starting from 0 pips and charges a commission of $7 per lot for its Raw Spread account. On the other hand, FBS offers competitive spreads without any commission fees for its Standard account. Traders should evaluate their trading style, frequency, and expected trading volume to determine the most cost-effective option for their needs. Transparent pricing and favorable trading conditions contribute to a positive trading experience.

Broker Type:

Both brokers are non-dealing desk (NDD) brokers, which means they do not take the opposite side of their clients’ trades. Instead, they act as intermediaries between traders and liquidity providers. IC Markets is an electronic communication network (ECN) broker, which means it provides direct access to the interbank market and offers tight spreads and fast execution. FBS is a straight-through processing (STP) broker, which means it passes the orders to its liquidity providers without intervention and charges a markup on the spread.

Leverage:

Leverage allows traders to amplify their trading positions and potentially increase their profits. IC Markets offers leverage options of up to 1:500, while FBS offers leverage options of up to 1:3000. Traders should exercise caution when using leverage, as it also amplifies the potential risk and losses. It is important for traders to assess their risk tolerance, trading strategy, and the specific requirements of their trading activities when considering the leverage options provided by each broker.

Asset Selection:

When it comes to asset selection, IC Markets offers a broader range with over 230 instruments, including 61 forex pairs, 19 indices, 19 commodities, 120 stocks, and 10 cryptocurrencies. They also provide tight variable spreads from 0.0 pips on forex and indices, but charge commissions on their Raw Spread accounts. On the other hand, FBS offers around 80 instruments, including 37 forex pairs, 4 commodities, 4 indices, 37 crypto assets, and 30+ stocks, with competitive variable spreads from 0.7 pips on forex and indices. FBS only charges commissions on their Zero Spread account. Both brokers do not offer trading in bonds, ETFs, or options.

Social Trading:

Social trading features provide valuable opportunities for traders to connect, share insights, and learn from experienced traders. FBS offers FBS CopyTrade, a dedicated social trading platform that enables traders to follow and copy the trades of successful traders. This feature is particularly beneficial for beginner traders who can learn from established traders’ strategies and potentially improve their trading results. IC Markets provides access to third-party social trading platforms such as ZuluTrade, allowing traders to engage in copy trading and participate in the trading community. Social trading features enhance the trading experience and foster a sense of community among traders.

Minimum Deposit:

The minimum deposit requirement is an important consideration, especially for traders with limited funds or those who prefer to start with a smaller initial investment. FBS has a minimum deposit requirement of $1, making it accessible to a wide range of traders. IC Markets recommends a minimum deposit of $200 for a better trading experience.

Withdrawal and Deposit Methods:

The availability of secure and convenient withdrawal and deposit methods is essential for smooth financial transactions. Both IC Markets and FBS offer a variety of options, including bank transfers, credit/debit cards, e-wallets (such as Neteller and Skrill), and cryptocurrencies (such as Bitcoin and Ethereum). Traders can choose the methods that best suit their preferences and ensure efficient management of their funds. Multiple options for deposit and withdrawal enhance the accessibility and convenience of trading activities.

Which Should You Choose: IC Markets Vs FBS?

When choosing between IC Markets and FBS, it is crucial to assess your individual trading preferences and needs. Consider factors such as the trading platforms offered, available trading instruments, pricing and fees, leverage options, asset selection, social trading features, minimum deposit requirements, and withdrawal/deposit methods. Advanced traders may find IC Markets more suitable with its comprehensive platform options, extensive research tools, and diverse range of instruments. On the other hand, beginner traders may prefer FBS for its user-friendly platforms, educational resources, and lower minimum deposit requirement. Diversification seekers may lean towards IC Markets due to its wider asset selection. Social traders can benefit from FBS’s dedicated copy trading platform. Ultimately, by carefully considering your trading requirements and goals, you can make a well-informed decision on whether IC Markets or FBS is the better choice for your trading journey.

Conclusion

In conclusion, when choosing between IC Markets and FBS, traders should consider their individual preferences and requirements. IC Markets offers strong regulation, diverse trading instruments, advanced platforms, and comprehensive research resources. FBS appeals to traders with user-friendly platforms, educational materials, a lower minimum deposit, and a dedicated copy trading platform. It is important for traders to assess their needs and conduct thorough research to determine which broker best aligns with their trading goals.


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