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 facilitate 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.
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 process all payments immediately.
See Also: How to Withdraw from Vantage Markets?
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 |
| 💳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. You can follow the notion, but in the end, the decision is in your hands. Review other traders' stories to obtain first-hand testimony before making the choice. Give their respective demo accounts a try in order to guarantee their platform's suitability for your strategy.
9 Comments
Jerome
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.
Wilson
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.
Harry
Jan 11 2023
Keaton
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!
Jaden
Jan 11 2023
Wilson
Jan 11 2023
Sammy
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.
Gutts
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.
John
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