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IC Markets vs RoboForex (RoboMarkets) 2023

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

Trying to decide between IC Markets and RoboForex (RoboMarkets)? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, IC Markets ranks more highly than RoboForex (RoboMarkets).

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Compare

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Overall Rating IC Markets RoboForex (RoboMarkets)
Overall Rating 8.2 / 10 7.3 / 10
Account Type IC Markets RoboForex (RoboMarkets)
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info Yes Yes
Islamic Account info Yes Yes
Copy Trading IC Markets RoboForex (RoboMarkets)
Social Trading / Copy Trading info Yes Yes
DupliTrade info No No
ZuluTrade info Yes No
Cryptocurrency IC Markets RoboForex (RoboMarkets)
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info Yes Yes
Bitcoin info Yes Yes
ethereum info Yes Yes
Forex Trading (Spot or CFDs) IC Markets RoboForex (RoboMarkets)
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) IC Markets RoboForex (RoboMarkets)
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments IC Markets RoboForex (RoboMarkets)
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info No No
Social Trading / Copy Trading info Yes Yes
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes No
ETF info Yes Yes
U.S. Stocks (CFD) info Yes Yes
Trading Platforms IC Markets RoboForex (RoboMarkets)
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info No No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes Yes
Regulatory Licenses IC Markets RoboForex (RoboMarkets)
Tier-1 Licenses info 2 1
Australia (ASIC Authorised) info Yes No
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info No No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
European Union Authorised (MiFID) info Yes info Yes info
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Research, Education IC Markets RoboForex (RoboMarkets)
Trading Central (Recognia) info Yes No
Forex News (Top-Tier Sources) info Yes Yes
Daily Market Commentary info Yes Yes
Autochartist info Yes No
Investor Dictionary (Glossary) info Yes No
Videos - Beginner Trading Videos info Yes No
Client Webinars (Archived) info Yes Yes
Trading Costs IC Markets RoboForex (RoboMarkets)
Minimum Deposit info $200 $100
Average Spread EUR/USD - Standard info 0.62 info 1.4 info
All-in Cost EUR/USD - Active info 0.62 info N/A
Active Trader or VIP Discounts info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info Yes Yes
Trading Tools IC Markets RoboForex (RoboMarkets)
Watchlists - Total Fields info 7 7
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 30 30
Mobile Charting - Indicators / Studies info 30 30
Trust Factors IC Markets RoboForex (RoboMarkets)
Year Founded info 2007 2009
Publicly Traded (Listed) info No No
Bank info No No
European Union Authorised (MiFID) info Yes info Yes info
Trust Score info 84 71
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IC Markets vs RoboForex (RoboMarkets) Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare IC Markets vs RoboForex (RoboMarkets).

Can I trust IC Markets?

IC Markets has a trust score of 84, giving it a "Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.

Can I trust RoboForex (RoboMarkets)?

RoboForex (RoboMarkets) has a trust score of 71, giving it a "Average Risk" trust label.

Is IC Markets a good broker?

IC Markets' low spreads, competitive pricing, and scalable execution policies make it a great choice for algorithmic traders. A trusted broker licensed in multiple Tier-1 regulatory jurisdictions, IC Markets boasts support for a variety of social copy trading apps, including its IC Social mobile app. IC Markets consistently ranks near or at the top of our ratings for MetaTrader brokers (and was our top pick for MetaTrader brokers in 2023). Traders at IC Markets gain access to MetaTrader 4 and MetaTrader 5, as well as the Advanced Trading Tools package for desktop and support for third-party plugins from Autochartist and Trading Central. It's worth noting that the broker's research and educational offerings still have room to improve.

Is RoboForex (RoboMarkets) a good broker?

Founded in 2009, RoboForex (also known as RoboMarkets) is a maturing brand that offers a proprietary stock trading app (R StocksTrader) as well as 12,000 tradeable symbols available across its full MetaTrader offering (both MT4 and MT5) and the cTrader platform. That said, RoboForex currently only holds one Tier-1 license, which weighs down the broker's overall Trust Score rating.

What Tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. IC Markets is Australia (ASIC Authorised), while RoboForex (RoboMarkets) is none.. Neither have Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized)

What Tier-2 jurisdictions is each broker regulated in? What about Tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, both IC Markets and RoboForex (RoboMarkets) are Cyprus (CySEC Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses IC Markets is Bahamas (SCB Authorised), while RoboForex (RoboMarkets) is Belize (FSC Authorised).. Neither have Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

For trading platforms IC Markets supports a Desktop Platform (Windows), cTrader and ZuluTrade, whereas RoboForex (RoboMarkets) supports a Desktop Platform (Windows).. Neither have Proprietary Platform and DupliTrade

Does IC Markets offer MetaTrader? Does RoboForex (RoboMarkets) offer MetaTrader?

Both IC Markets and RoboForex (RoboMarkets) offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.

How do IC Markets and RoboForex (RoboMarkets) differ in terms of minimum deposit? What about average spreads and funding options?

IC Markets requires a minimum deposit of $200, while RoboForex (RoboMarkets) requires a minimum deposit of $100. From our testing we found IC Markets offers spreads of 0.62, while RoboForex (RoboMarkets) offers spreads of 1.4. Both IC Markets and RoboForex (RoboMarkets) offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for deposits.

Which broker offers more tradeable asset classes, IC Markets or RoboForex (RoboMarkets)?

IC Markets offers a more diverse selection of investment options than RoboForex (RoboMarkets) allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD).. Neither have Spread Betting Looking at total tradeable symbols, IC Markets has 3583, compared to 12000 from RoboForex (RoboMarkets).

Can I trade cryptocurrency with IC Markets or RoboForex (RoboMarkets)?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither IC Markets nor RoboForex (RoboMarkets) allow you to trade physical cryptocurrencies.

Who offers more research tools, IC Markets or RoboForex (RoboMarkets)?

In terms of research and research tools IC Markets gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison RoboForex (RoboMarkets) has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading.

Broker Reviews

Still looking for more information, read our broker reviews.

IC Markets Review

Roboforex (RoboMarkets) Review

Overall winner: IC Markets

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announcementPlease note:

We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

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