IC Markets vs Axi 2024

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

IC Markets has a Trust Score of 84, giving it a "Trusted" Trust Score Label.

Axi has a Trust Score of 82, giving it a "Trusted" Trust Score Label.

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.

Founded in 2007, the Axi brand (formerly known as AxiTrader) is a trusted forex broker that holds multiple licenses in reputable regulatory jurisdictions such as the U.K. and Australia. Axi is a MetaTrader-only broker that offers MetaTrader 4 as well as social copy trading from ZuluTrade. That said, traders at Axi only gain access to a limited range of tradeable markets.

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. IC Markets holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised). Axi, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: Australia (ASIC Authorised) and United Kingdom (U.K.) (FCA Authorised). 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) and USA (CFTC Authorized)

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

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that IC Markets offers a Desktop Platform (Windows), cTrader and ZuluTrade, whereas Axi supports a Desktop Platform (Windows) and ZuluTrade. Neither have Proprietary Platform and DupliTrade

For MetaTrader IC Markets provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Axi provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

IC Markets requires a minimum deposit of $200, while Axi requires a minimum deposit of $0. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that IC Markets supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for funding and deposit methods, whereas Axi supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw)

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that IC Markets delivers a more diverse selection of investment options than Axi, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD).

We also keep track of each broker’s total number of tradeable symbols; IC Markets offers 3583, and Axi offers a total of 175 tradeable symbols.

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that neither IC Markets nor Axi allow you to trade physical cryptocurrencies.

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. IC Markets delivers the following research tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. Axi, on the other hand, provides the tools listed here: Autochartist, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading

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