Review 2020

Rated /5
learn more Learn more about IC Markets. Losses can exceed deposits
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Guide - Read our In Depth Review

This review was written by industry experts with over 20 years of financial experience in .

What is ?

are an a global online financial trading platform and multi asset broker founded in

Over 2020 years later has grown to offering retail investors trading.

are a global broker and have a head office in .

have a listed stock symbol. This means that have publically listed and you can officially buy shares in on one of the worlds global stock market exchanges.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

We will dive deep in this review and assess how well the platform functions in its role as an international multiple financial asset trading platform for traders in 2020.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. Choosing an online broker like can be difficult. For a beginner, the first few hurdles can come in the form of what appears to be a complex mobile or online trading platform, hard to understand investment terminology and confusing fee structures. In our review of we breakdown the pros and cons. What are able to offer, what countries are available in. Who are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

This is why we have taken the time to review only the best brokerage firms, their practices, their fee structure and all other important aspects. We want you to evaluate and analyse and trust your hard-earned cash with only the safest and best of brokers. We hope you find this review useful.

This review of the platform is very detailed. If you are interested in trading with in any capacity please take the time to read and research the whole review.

We have tried to explain the ins and outs of financial trading through the platform as plainly as possible so that you the trader are as informed as possible before you start to use the trading tools and depositing and withdrawing funds from .

Benefits of trading with

Open 's Website

Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with. When trading financial assets with like trading. you should have confidence in and know that the management of your financial investments on the platform is in good hands.

At the bottom of this review you can also learn about some pretty good alternatives to

With this review we hope to help you see if is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding that will help you get off to a good start in the world of online trading.

Review Table of Contents

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is a Multi-Assets Trading Platform with over + Assets

Learn more about . is a multi asset platform with + tradable Assets. Assets available on include .

trades in multiple financial asset types. An asset in financial investment, is any security or asset, tangible or intangible, that has a financial value attached. This means that are considered financial assets.

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Features of

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What you should know

offer one way to trade: .

With you will need a minimum deposit of $. You can sign up for a demo account to acquaint yourself with platform.

are able to accommodate various levels of traders whether you are experienced or a beginner.

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Are safe?

When choosing a broker like the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in , and in operation for 2020 years have a head office in .

is regulated. This means are supervised by and is checked for conduct by the regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to , this will be honored. If violate any regulatory rules their regulated status could be stripped.

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Is my money safe with ?

Any payments funded to accounts by traders are held in a segregated bank account.

For added security use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

What are Tier 1 banks and why should use them?

A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and financial regulators utilize tier one banks because they are able to withstand unexpected financial losses.

What does it mean to have your funds in deposited in a Tier 1 bank?

Having any money you deposit with means that your funds are safe in a bank that has enough capital to accommodate your withdrawal wishes even if goes out of business for some reason.

Therefore, we can safely conclude that is secure and safe.

That said, please note that you can lose funds when trading in financial assets. Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.

While trading in financial investments, losing money rapidly due to trading is not uncommon. Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility. also clearly state on their platform that .

Now that we have answered some important questions regrding . let us look at the features in more detail.

Try creating two accounts when you are working with . One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

How as a Company Compare Against Other Brokers

Broker eToro IC Markets XTB FP Markets
Year Established 2006 2007 2002 2005
Head Office Cyprus, UK Australia Poland Australia
Regulation Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG) Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC)
Used By 12,000,000+ eToro users 60,000+ IC Markets users 250,000+ XTB users 10,000+ FP Markets users
Negative balance protection Yes Yes Yes Yes
Guaranteed Stop Loss No No No No
Learn More Visit eToro Visit IC Markets Visit XTB Visit FP Markets
Risk Warning 71% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits

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Pros and Cons

What we like about

  • Segeregates client funds
  • Established in
  • Regulated by
  • Min. deposit from $

What we don't like about

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Regulation and Licensing in more detail

We have checked and is regulated and supervised by reputable organisations. You are able to check every supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with . Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect traders and provide a safe trading environment.

is governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as you should be sure they're legitimate online agent.

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Is Global?

Yes, is global as is available in over 194 countries.

is a global trading platform in the sense that it operates in 194 nations including nations in Europe, Asia, Oceania, and Africa. Major countries covers include the UK, Germany, Australia, South Africa, Thailand, the United States and China. has a total of more than 0 users.

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Fees Explained

  • withdrawal fees varies on payment method
  • does charge a fee for inactive accounts.
  • does charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company, brokers may charge clients various fees.

How Fees Compare Against Other Brokers

Broker eToro IC Markets XTB FP Markets
Min Deposit 200 200 0 100
Withdrawal Fees Yes No varies No
Inactivity Fees Yes No No No
Deposit Fees No Varies No Yes
CFD Commission Fees No Yes Yes Yes

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Minimum Deposit

require a minimum desposit of 200 GBP/USD when opening an trading account.

A minimum deposit is the minimum amount of money required by to open a new online brokerage account with them.

Dont be scared off by brokers like charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

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Withdrawal Fees

withdrawal fees vary depending on your selected withdrawal payment method.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees and processing times.

for example allow you to withdraw your funds to .

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Inactivity Fees

does charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

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Desposit Fees

does charge deposit fees.

Some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

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Commission Fees

does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

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What can you trade with ?

Be aware that Different entities under Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client.

You can trade a wide variety of instruments with over 2000 instruments infact.

If you are looking at trading currency pairs offer over 50 currency pairs.

Compare with IC Markets and XTB below.

How Trading Options Compare Against Other Brokers

Broker eToro IC Markets XTB FP Markets
Instruments Available 2000 232 4000 100
Platforms Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac MT4, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps
FX / Currencies        
Forex pairs offered 50 65 50 60
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs Yes Yes Yes Yes
Exotic Forex pairs Yes Yes Yes Yes
Cryptocurrencies Yes Yes Yes Yes
Commodity CFDs        
Commodities Offered 31 19 21 18
Metals Yes Yes Yes Yes
Energies Yes Yes Yes Yes
Agricultural Yes Yes Yes Yes
Indiced & Stock CFDs        
Stocks Offered 957 100 1696 10000
UK Shares Yes No Yes Yes
US Shares Yes Yes Yes Yes
German Shares Yes Yes Yes Yes
Japanese Shares Yes Yes Yes Yes
Risk Warning Visit eToro
71% of retail investor accounts lose money when trading CFDs with this provider.
Visit IC Markets
Losses can exceed deposits
Visit XTB
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Visit FP Markets
Losses can exceed deposits

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Trading on web platforms and other applications

also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.


See 's platforms

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Is the Trading Platform Secure?

safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. also urges its clients through its web platform to always look for the SSL security sign (a lock sign) o the browser while operating .

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Trading Platform Options

Once you have logged into your account you will see the below trading platform options available to you.

Lets explore each of these trading platforms in detail and what options gives you.

Trading benefits :

  • Low min deposit

Trading Accounts Offered :

Can I try before I buy?

offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

withdrawal and funding methods.

Please note that the list of payment methods below depend on the Entity and the Clients Country of Residence.

offer the below funding payment methods. learn more about

Payment Methods

Broker eToro IC Markets XTB FP Markets
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal Yes Yes Yes Yes
Skrill Yes Yes Yes Yes
Payoneer Yes No Yes Yes
Neteller Yes Yes Yes Yes

How can I start trading with ?

When opening a trading account with , you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on trading platforms here.

Performing trades with

allow you to execute a minimum of trade of . This may vary depending on the account you open. allow you to execute a maxium trade of .

As with most brokers, margin requirements do vary depending on the instruments.

Education resources at

To trade effectively with , it's important to get a have a good understanding of the trading tools and the markets.

offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with .

Take time to look around the platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at

support a limited number including

See how Support Compares Against Other Brokers

Broker eToro IC Markets XTB FP Markets
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, German, Spanish, French, Italian English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish,Indonesian, Thai, Malay, German, Vietnamese
Learn More Visit eToro Visit IC Markets Visit XTB Visit FP Markets
Risk Warning 71% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits

What you will need to open an account with

As is regulated by , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware Please kindly note that the expiration date of Proof of address document for different entities under Brand may be different.

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore 's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with you can visit the trading platform here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from on November 26, 2020.

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Is A Good Broker?

We spent over 3 months examining in depth. Although we found some very useful aspects of the platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative broker.

  • have a good track record of offering .
  • has a history of over 2020 years.
  • has a reasonable sized customer support of at least 10.
  • are regulated by . This means fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • have regulation from a Tier 1 reputable country.
  • has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • have an international presence in multiple countries. This includes local seminars and training.
  • are able to hire people from various locations in the world who can better communicate in your local language.

Risk Disclaimer

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not quite right?

If after reading this review, does not fulfill your needs check out these Alternatives.

Click here to view the best Alternatives

We have spent years researching the best alternatives to . Click the links below to learn more.

If you feel some of the above are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of alternatives below.

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Related Vs Comparisons

We have covered allot in this review, If you want to see how compares side by side with other brokers check out our Vs pages.

If you would like to see how stands up against other brokers you can read some of our comparisons below. We compare side by side some of our top rated versus comparisons. Read our indepth VS pages below.

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Frequently Asked Questions

Can I try before I buy?

do not offer a demo account so it looks like you will have to sign up for at least a trial period. Learn more here

What funding methods do accept?

Please note that the list of payment methods below depend on the Entity and the Clients Country of Residence.

offer the following funding payment methods among other payment methods.
Learn more here

Is safe?

are considered safe as they are regulated by and checked for conduct by the . Any payments funded to accounts by traders are held in a segregated bank account. For added security use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Is trading good?

is considered good and reputable to trade with . is used by over active traders and users. offers trading. Minimum deposit with is .

Is trading Legit?

was founded in in . has been facilitating trade on the financial markets for over 2020 years. offers clients trading. All funds deposited to are held in segregated tier 1 bank accounts for security. is regulated by so can be considered legit.

Is a good broker?

is overseen by the top tier financial regulators so can be considered a good broker. allows trading.

Is trustworthy broker?

can be considered trustworthy. All money funded to is placed into a segregated tier 1 bank account. this means your money in not held by directly but a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also is regulated by .

What is the minimum deposit for ?

The minimum deposit to trade with is .

How long do withdrawals take?

Withdrawing money from processing time varies but averages 2-5 days.

Is regulated?

is regulated by .

Is a market maker?

is a not a market maker. A market maker speeds up trading as a market maker will purchase your stocks and commodities even is a buyer is not lined up.

How can I start trading with ?

When opening a trading account with , you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on trading platforms here.

Is my money safe with ?

is not currently regulated. Do not let this stop you considering , just make sure you are aware of the risks. It is not uncommon for investors to deal with either regulated or non-regulated brokers. Unregulated Brokers can trade for you in any country you want. In Europe for example some regulated brokers will not accept customers in the USA.
Unregulated brokers run their business with lower operating cost. This is because they do not have to pay for costly regulations or license fees. Unregulated brokers charge less than regulated brokers. The cost savings are passed to you as a trader which means better return on investment.

Is a con?

is regulated and well established having been in business for over 2020 years. is definitely not a con.

Can you make money with ?

Although traders have had great success with . Trading on the financial markets with is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. .

Does have fees?

withdrawal fees varies on payment method. does charge a fee for inactive accounts. does charge deposit fees.

When was founded?

was founded in .

How many people use ?

is used by over registered users.

What is Headquarters country?

has its head quarters office in .

Does offer negative balance protection?

does not offer negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does offer guaranteed stop loss?

does not offer guaranteed stop loss. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does allow scalping?

does not offer scalping.

Does allow hedging?

does not offer hedging.

Does offer CFD trading?

does not offer CFD trading.

Does offer STP?

does not offer STP trading.

How many people use ?

is used by over users and traders.

Is an ECN broker?

does not offer ECN trading.

Does offer a demo account?

does not offer demo account.

Does offer an Islamic account?

does not offer Islamic accounts.

What are the funding methods for ?

accept the following funding methods : .

review written by Andrew Blumer and Mark Hansen

We hope you found our review of the brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

 review written by Mark Hansen of Comparebrokers.co