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Head-to-head
eToro vs IC Markets: fees, regulation and platforms compared
eToro and IC Markets side by side on the things that decide which one suits you: who regulates the company you would join, what a trade costs, which platforms you get and whether you can open an account where you live.
Short answer: Choose eToro if you want to copy other traders on a platform built around it. Choose IC Markets if you trade often and want raw pricing with a published commission. Neither of the companies we review accepts US retail forex clients.
eToro vs IC Markets at a glance
| eToro | IC Markets | |
|---|---|---|
| Regulation of main companies | FCA, CySEC, ASIC (plus an FSA Seychelles company) | ASIC, CySEC, FSA Seychelles, SCB; CMA (Kenya) |
| Minimum deposit | $10 to $10,000 depending on country | $0 (global accounts) |
| EUR/USD pricing (headline) | Spread-only, no separate commission | Raw from 0.0 pips + $3.50 per lot per side (MetaTrader) |
| Platforms | eToro web and app platform with copy trading | MT4, MT5, cTrader, TradingView |
| US retail forex clients | No (for the CFD business we review) | No |
| Background | Founded 2007 | Founded 2007, Sydney |
| 1-lot EUR/USD round turn at headline prices | not comparable from headline figures | about $7 |
Round-turn costs use each broker's headline "from" price for 1 standard lot (100,000 units, $10 per pip) including any published commission. Real spreads are often wider. Try your own numbers in our forex cost calculator.
Which should you choose?
Choose eToro if:
- you want to copy other traders on a platform built around it
- you prefer one app over MetaTrader
- you want spread-only pricing with no separate commission
Watch out: There is no MetaTrader, so Expert Advisors and MT-based tools will not work.
Choose IC Markets if:
- you trade often and want raw pricing with a published commission
- you use cTrader or MetaTrader EAs
- you want no minimum on global accounts
Watch out: Its global accounts are held by an offshore company licensed in Seychelles, so check which company you would join.
Regulation and safety
eToro lists FCA, CySEC, ASIC (plus an FSA Seychelles company). IC Markets lists ASIC, CySEC, FSA Seychelles, SCB; CMA (Kenya). A broker's headline licences do not always cover you: the company that opens your account depends on where you live, and only that company's regulator protects you. Our legal entity guide shows how to check it on the regulator's own register.
Costs
eToro: Spread-only, no separate commission. IC Markets: Raw from 0.0 pips + $3.50 per lot per side (MetaTrader). Also compare overnight swap rates if you hold trades, and any deposit, withdrawal, inactivity or currency conversion fees. See spreads and commissions explained.
Platforms
eToro: eToro web and app platform with copy trading. IC Markets: MT4, MT5, cTrader, TradingView. If you run Expert Advisors, check MetaTrader support first; see MT4 vs MT5.
FAQ
Is eToro or IC Markets cheaper?
Their pricing is structured differently: eToro lists spread-only, no separate commission; IC Markets lists raw from 0.0 pips + $3.50 per lot per side (MetaTrader). Compare them on a demo account during the hours you trade, or use our cost calculator.
Which is better regulated, eToro or IC Markets?
eToro: FCA, CySEC, ASIC (plus an FSA Seychelles company). IC Markets: ASIC, CySEC, FSA Seychelles, SCB; CMA (Kenya). What matters is the company that would hold your account, which depends on where you live.
Do eToro and IC Markets accept US clients?
eToro: No (for the CFD business we review). IC Markets: No.
What is the minimum deposit at eToro and IC Markets?
eToro: $10 to $10,000 depending on country. IC Markets: $0 (global accounts).
Which platforms do eToro and IC Markets offer?
eToro: eToro web and app platform with copy trading. IC Markets: MT4, MT5, cTrader, TradingView.
More comparisons
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Sources
- Forex Awards eToro review (sources listed there)
- Forex Awards IC Markets review (sources listed there)
Forex and CFDs are leveraged products and most retail accounts lose money. Forex Awards may earn commissions from some links; see our affiliate disclosure. This is general information, not financial advice.