IC Markets is more well-known among professional traders, while Vantage is the preferred choice for beginners.
Vantage and IC Markets are both holders of licenses from the Australian Securities and Investment Commission (ASIC). However, both offer differing capabilities for traders.
IC Markets is more well-known among professional traders, while Vantage is the preferred choice for beginners. Here is a brief comparison to help you choose the best broker for you.
Regulation
IC Markets was established in 2007 in Sydney, Australia, and soon operated under licenses from the Australian Financial Services License (AFSL) and the Australian Securities and Investment Commission (ASIC). Other than that, IC Markets holds licenses from the Financial Conduct Authority (FCA) to operate in the UK.
Vantage has been the epitome of a multi-license broker since its establishment in 2009. At the latest count, they possess four separate licenses from the ASIC, the UK FCA, the Cayman Islands Monetary Authority (CIMA), and the Vanuatu Financial Services Commission (VFSC).
Trading Account Types
IC Markets offers three no-nonsense account options: cTrader, Raw Spread, and Standard. All of them are available with a leverage ratio of up to 1:500 and can be opened with a minimum deposit of $200. Differences between account types lie in trading fees and platforms.
- cTrader account is suitable for day traders and scalpers, with spreads as low as 0.0 pips and a commission fee of $6.0 per lot per round turn. As the name suggests, traders will be able to trade using the highly sophisticated cTrader platform.
- Raw Spread account is incredibly popular in various countries, particularly among scalpers and EA users. Traders will be able to enjoy spreads as low as 0.0 pips and a commission fee of $7.0 per lot per round turn. It is connected to the Metatrader platform.
- Standard account is a good fit for discretionary traders, with no commission fees and spreads starting at 0.6 pips. It is also connected to the Metatrader platform.
Demo account and Islamic option are available for all three account types in IC Markets.
Vantage provides more diverse trading conditions through four types of accounts: Pro ECN, Raw ECN, STP, and Cent. All of them are available on Metatrader 4, Metatrader 5, and Vantage's own proprietary platform. Other terms are heterogeneous.
- Cent account is the best option for beginners, with a minimum deposit as low as $50. Spreads start at 0.0 pips, and commission varies between $0-$6.00 per lot per round turn.
- STP account is an excellent way to step up your game. With a minimum deposit of $200, traders will be able to trade free of commission fees. Variable spreads start at 1.0 pips.
- Raw ECN is cut out for scalping and autotrading. Spreads and commissions are similar to the Cent account, but Raw ECN has a broader range of asset choices.
- Pro ECN is a good option for you if you are ready to invest at least $10,000. There are various advantages, including raw spreads starting at 0.0 pips, one of the lowest commission fees in the industry ($3.00 per lot per round turn), and invitations to VIP events.
Vantage provides swap-free (Islamic) option only in Standard STP and Raw ECN accounts. However, there are free practice accounts for all clients.
Range of Markets
IC Markets facilitates trading on 2000+ assets, including:
- More than 60 pairs of forex
- Over 22 CFDs on Commodities
- 25 indices from all around the world
- 9 sovereign bonds from the United States, Japan, and Europe
- A continuously growing number of cryptocurrency CFDs
- +2100 large-cap Stocks CFDs across the ASX, NYSE, and NASDAQ
- Popular Futures CFDs, including ICE Dollar Index and CBOE VIX Index
Vantage opens access to fewer markets because the company does not facilitate CFD trading in ETFs, Bonds, and Futures. Still, Vantage's offers should satisfy most traders, with around 400 assets in forex, stocks, cryptocurrencies, commodities, and indices.
Trading Platforms
IC Markets provides three popular online trading terminals: Metatrader4, Metatrader5, and cTrader. All of them offer a full range of trading tools commonly used by traders across the world, including technical indicators, trade notifications, as well as Expert Advisor, and cBot for autotrading. Metatrader4 is a great entry point for beginners, while Metatrader5 and cTrader can also display Depth of Market most sought after by proficient traders. All of them are available on web, desktop, and mobile platforms.
Vantage also provides the famous duo Metatrader4 and Metatrader5 along with all the pomp they bring. In addition, Vantage introduces three other types of proprietary platforms to address specific needs:
- Vantage App, available on PlayStore and AppStore for high-mobility traders
- Vantage ProTrader (through cooperation with TradingView), specially designed for experienced traders who seek higher precision quotes and charts.
- Vantage Copy Trading, to better connect professional traders and those who seek to replicate their trades.
Deposit and Withdrawals
IC Markets and Vantage are fiercely competitive in matters of deposit and withdrawal. Both allow fund payment through bank transfer/wire, credit/debit card, or electronic wallet. They are also equally committed to processing all payments immediately.
Conclusion
So, which broker would you choose between Vantage and IC Markets? Your choice may decide your future, so make sure to choose carefully!
| Comparisons | IC Markets | Vantage |
| 💼Regulation | ASIC, FCA, CySEC, SCB | ASIC, VFSC, CIMA and FCA |
| 📂Trading Account Types | cTrader, Raw Spread, Standard | Cent, STP, Raw ECN, Pro ECN |
| 🔢Minimum Spreads | 0.0 pips (Raw Spread account) | 0.0 pips (all except STP account) |
| 🛒Range of Markets | 2000+ assets | Around 400 assets |
| 💻Trading Platforms | Metatrader4, Metatrader5, cTrader | Metatrader4, Metatrader5, Vantage App, Vantage ProTrader, Vantage Copy Trading |
| 💳Deposits and Withdrawals | Bank transfer, credit/debit card, e-wallet | Bank transfer, credit/debit card, e-wallet |
It has been mentioned above that IC Markets may fit professional traders while Vantage is ideal for beginners. Give their respective demo accounts a try in order to guarantee their platform's suitability for your strategy.
16 Comments
Jan 11 2023
What is a cent account? For the First time I heard about this account, what's the difference between a cent account and other accounts? Normally, I've always asked about the standard account. What are the benefits of cent accounts? Vantage has this account, but I have found that IC Market does not offer a cent account. Do the brokers always offer this type of account? Sorry, I'm very curious about the cent account.
Jan 11 2023
The difference between the cent account and other accounts is the contract size. Like you said, you usually hear about standard accounts all the time. On a standard account, the contract size for 1 lot is around 100,000 and you get $10 for every 1 pip. Below the standard account is a contract size mini account of approximately 10,000 units, and below that is a micro account of 1,000 units. And of course, every 1 pip is $1 for mini account and $0.1 for micro account respectively. This is common account that you can with broker forex. If the 3 type of account that use dollars, the cent account will trade a cent-based contract. You can trade with a trade size of 0.0001 lot or $10. For example, if you deposit $10 into your cents account, your account will show 1,000, but all transactions will be in cents. So don't be surprised if your losses and gains are in cents. Not all brokers offer this cent account as it is very similar to the demo account. With a cent account, you will experience very little loss, even if you feel like you have nothing to lose. For the more information about cent account you can read the article : how cent account work and because not many brokers provide this cent account, if you are interested, you can read this 5 brokers that provide cent account.
Jan 11 2023
Feb 2 2023
Harry: It's a big profit but in a bad account. Because the penny account gives very small profit because the profit or loss is entirely in cents. The 2000 pips are different, if you are trading on a standard account you will get 2000 pips x $10 = $20,000 in one trade, but if 1 pip is $10.
Very rare to get that profit man! But you must remember that the cent account is a beginner's account who needs to learn forex trading with a real account. The purpose of using a cent account is to avoid the risk of losing all your money. Meanwhile, if you really want to make profit, at least open a mini account for trading or just a micro account, the profit will be better. So, dont be dissapointed!
Jan 11 2023
Regarding of the speed of withdraw and deposit, there are many option that available to choose. And from all the options that I can choose, what's the best option of deposit and withdraw that broker has provided? I mean there is a lot of option that available, there is bank transfer/wire, credit/debit card, or electronic wallet. Which one can be the best at fast desposit and for withdrawing?
Jan 11 2023
Feb 2 2023
I must admit, the Vantage Pro ECN account really has the lowest commission. I mean the other ECN Brokers will charge you $6 or $7 per lot per round turn. It is twice as the Vantage charged! I This is a not a good option but absolutely very perfect for you if you are ready to invest at least $10,000.
If I have that money, I really want to use Pro ECN dude, and if you compare to the Raw ECN account, which is I categorized this kind of account as standard ECN account, the commission way higher than Pro ECN account which is $6 per lot per round turn.
Feb 2 2023
Sammy: I totally agree. If you want the lowest spreads and lowest commissions but will have an ECN account, just log in to the pro account. The weakness of the ECN trading account is a required deposit. Not every merchant can offer such an amount. But if you have the money, yes, I will also say it's worth a try. But if you want to use the standard account, IC Market is more advanced as spreads start from 0.6 pips and the standard account offered by Vantage is from 1 pip. Therefore, the spread will be more expensive if the variable spread becomes floating.
Feb 2 2023
Sammy: No, if you say just because spreads and commissions are too low, then I can agree that Vantage ECN Pro account is the winner, but if it is the trading range of instruments we have able, then Vantage is limited. Meanwhile, IC Market offers more than 2000 instruments for you to choose from. Exotic pairs or other stock CFDs that you trade are guaranteed to be found on IC Market.
So based on the range of trading instruments, IC Market is the winner
Feb 14 2023
As a newbie trader, I should to admit that it's really overwhelming to choose between different brokers when starting out. Reading information above, there are some questions popped up in my mind. One, what is the most user-friendly and easy to navigate platform? Two, are there any additional features, such as social trading or copy trading? Three, does broker stated above offer real-time news and analysis for making informed trading decisions?
Mar 25 2023
Karla: As a newbie trader, it's understandable to feel overwhelmed by the variety of brokers and trading platforms available. Here are some answers to your questions regarding platform usability, additional features, and news and analysis: When it comes to user-friendliness and ease of navigation, different traders may have different preferences depending on their level of experience and familiarity with trading platforms. However, some popular platforms that are known for their user-friendliness and intuitive design include MetaTrader 4 and 5, cTrader, and TradingView. These platforms offer a range of tools and features for charting, technical analysis, and order management, and can be customized to suit individual traders' needs. Many brokers now offer additional features beyond the basic trading platform, including social trading and copy trading functionality. Social trading allows traders to follow and interact with other traders, share strategies and insights, and even automatically copy the trades of more experienced traders. Some brokers that offer social trading features include eToro, ZuluTrade, and NAGA. Copy trading, on the other hand, allows traders to automatically replicate the trades of a ed strategy or signal provider. Brokers that offer copy trading services include AvaTrade, FXTM, and HotForex. Access to real-time news and analysis can be a valuable tool for making informed trading decisions. Many brokers offer their own research and analysis tools, as well as access to third-party news sources such as Reuters or Bloomberg. Some brokers that are known for their research and analysis offerings include Forex.com, IG, and Saxo Bank. Additionally, many trading platforms such as MetaTrader and cTrader offer news feeds and economic calendars within the platform itself, making it easy to stay up-to-date on the latest market developments.
Mar 25 2023
How do the trading conditions and available features of Vantage FX and IC Markets differ, and what factors should traders consider when deciding which broker is the best fit for their individual needs and trading style? Specifically, how do the spreads, commissions, and margin requirements of each broker compare, and what trading platforms and additional tools are available to traders? Additionally, what are the potential benefits and drawbacks of choosing one broker over the other, and how might these impact traders' overall profitability and trading experience?
Jun 28 2023
@Maga Shan: When choosing between Vantage FX and IC Markets, there are a few factors to consider:
Spreads and commissions: Compare the costs of trading with each broker. IC Markets offers competitive spreads starting from 0.0 pips, while Vantage FX also provides tight spreads from 0.0 pips.
Margin requirements: Check the leverage options and margin requirements for the assets you want to trade. Both brokers offer leverage up to 1:500.
Trading platforms: Both brokers offer popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which have advanced charting and trading features. IC Markets also provides cTrader, which offers additional tools like depth of market (DOM) and ladder trading.
Additional tools: Consider the availability of educational resources, market analysis, and research tools. Vantage FX offers webinars, trading tools, and daily market analysis, while IC Markets provides a range of educational materials and research resources.
More details, just re read this article, madam!
Jun 29 2023
What are the main differences between the Pro ECN and Raw ECN accounts offered by Vantage? I understand that Vantage provides a range of trading account options, including Pro ECN, Raw ECN, STP, and Cent, all available on Metatrader 4, Metatrader 5, and Vantage's proprietary platform. However, I would like to know specifically how the Pro ECN account differs from the Raw ECN account. Are there variations in terms of spreads, commissions, or other trading conditions between these two account types? Understanding these distinctions would help me determine which account may be more suitable for my trading preferences. Thank you for shedding light on the differences between Vantage's Pro ECN and Raw ECN accounts.
Nov 28 2023
I'm curious about the differences between Vantage's Pro ECN and Raw ECN accounts. Vantage seems to offer a variety of trading accounts, like Pro ECN, Raw ECN, STP, and Cent, across Metatrader 4, Metatrader 5, and their own platform. However, what I'm particularly interested in is how the Pro ECN account sets itself apart from the Raw ECN account. Are there distinctions in terms of spreads, commissions, or other trading conditions between these two types of accounts? Getting a clear picture of these variations would be super helpful in figuring out which account aligns better with my trading preferences. Thanks for shedding some light on the differences between Vantage's Pro ECN and Raw ECN accounts!
Dec 1 2023
In my experience, the distinction between Vantage's Pro ECN and Raw ECN accounts lies primarily in how they handle trading costs. The Pro ECN account typically features variable spreads, meaning the cost is embedded in the spread itself. On the other hand, the Raw ECN account tends to offer raw, minimal spreads directly linked to market prices but charges a separate commission for each trade. To break it down further, Pro ECN is like an all-inclusive package where costs are bundled into the spread, while Raw ECN provides direct market access with potentially lower spreads, but you see a clear commission fee. It essentially depends on whether you prefer a straightforward cost structure or value the transparency of separate fees.
In general, ECN or Zero spread and Raw ECN or Raw Spread are different. You can read this things in here : What is the Difference between Raw Spreads and Zero Spreads?