Choosing the right broker can make or break your trading journey. Today, we’re comparing two popular trading platforms: Deriv.com and IC Markets. Whether you’re a beginner or an experienced trader, this comparison will help you decide which broker is best suited to your needs. Let’s dive into the key differences between Deriv.com vs IC Markets.
Before we jump into our full review, let’s take a quick look at the table below which provides a clear side-by-side comparison of the key features of both Deriv.com and IC Markets to help you quickly see the differences.
| Feature | Deriv.com | IC Markets |
|---|---|---|
| Regulation | MFSA, LFSA, VFSC | ASIC, CySEC, FSA |
| Trading Platforms | DTrader, DBot, MetaTrader 5 (MT5) | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader |
| Spreads | Competitive (especially on synthetic indices) | Extremely low, starting from 0.0 pips on Raw Spread Account |
| Commission | No commission on most trades | Raw Spread Account has commissions; Standard Account is commission-free |
| Assets Offered | Forex, Commodities, Stocks, Cryptocurrencies, Synthetic Indices | Forex, Commodities, Stocks, Cryptocurrencies, Bonds, Indices |
| Unique Features | Synthetic Indices for 24/7 trading | Known for low forex spreads and advanced platforms |
| Account Types | Standard, Synthetic, MT5 Financial | Standard, Raw Spread, Islamic |
| Customer Support | 24/7 (Live chat, email, phone) | 24/7 (Live chat, email, phone) |
| Deposit & Withdrawal | Credit/Debit Cards, Bank Transfer, E-wallets, Cryptocurrencies | Credit/Debit Cards, Bank Transfer, PayPal, E-wallets, Cryptocurrencies |
| Withdrawal Processing Time | 1-2 business days | Same day in most cases |
| Best For | Beginners, Synthetic Indices Traders | Advanced Forex Traders, Low Spread Trading |
Overview of Deriv.com and IC Markets
Deriv.com is a relatively new platform that evolved from the established Binary.com. It focuses on providing traders with easy-to-use trading tools, multiple account types, and a variety of assets including forex, commodities, stocks, cryptocurrencies, and synthetic indices.
IC Markets, on the other hand, is a highly trusted broker that’s been around since 2007. It specializes in forex trading and offers competitive spreads, a wide range of trading instruments, and sophisticated trading platforms such as MetaTrader 4, MetaTrader 5, and cTrader.
Regulation and Security
When choosing a broker, regulation is a crucial factor. A well-regulated broker ensures the safety of your funds and provides peace of mind.
- Deriv.com: It is regulated by several authorities, including the Malta Financial Services Authority (MFSA), the Labuan Financial Services Authority (LFSA), and the Vanuatu Financial Services Commission (VFSC). This global reach helps ensure client protection.
- IC Markets: IC Markets is well-regulated by top-tier regulators such as the Australian Securities and Investments Commission (ASIC), the Seychelles Financial Services Authority (FSA), and the Cyprus Securities and Exchange Commission (CySEC). This makes it one of the most trusted brokers in the industry.
Verdict: Both brokers are well-regulated, but IC Markets has a slight edge due to its regulation by ASIC and CySEC, which are considered stricter regulators.
Trading Platforms
The platform you trade on has a huge impact on your experience. Both Deriv.com and IC Markets offer excellent platforms, but they serve different types of traders.
- Deriv.com: Deriv offers its proprietary trading platform called DTrader, which is user-friendly and great for beginners. It also provides DBot, a no-code trading automation tool, and MetaTrader 5 (MT5) for advanced traders who prefer more powerful features.
- IC Markets: IC Markets provides access to some of the most popular trading platforms in the world, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. These platforms are known for their advanced trading tools, charting options, and support for algorithmic trading.
Verdict: If you’re looking for a simple, user-friendly platform, Deriv.com’s DTrader might be more suitable. However, if you prefer more advanced platforms with powerful features, IC Markets is the better choice.
Spreads and Fees
Lower fees and spreads can significantly impact your profitability as a trader.
- Deriv.com: Deriv.com is known for its competitive spreads, especially on its synthetic indices. However, its forex spreads are not the lowest in the market. The broker does not charge commissions on most trades, but there may be some overnight or swap fees.
- IC Markets: IC Markets is famous for its low spreads, particularly for forex trading. It offers two account types with different fee structures. The Raw Spread Account has extremely low spreads starting from 0.0 pips but charges a small commission per trade. The Standard Account offers commission-free trading, but the spreads are slightly higher.
Verdict: IC Markets offers more competitive spreads, especially for forex traders. However, Deriv.com provides a good option for traders interested in synthetic indices.
Asset Variety
Having access to a wide range of trading instruments allows you to diversify your portfolio.
- Deriv.com: Deriv offers over 100 tradable assets, including forex, commodities, stocks, cryptocurrencies, and synthetic indices. Its synthetic indices are unique to the platform and provide 24/7 trading with no market closures.
- IC Markets: IC Markets provides over 230 tradable assets, including forex, indices, commodities, stocks, cryptocurrencies, and bonds. It excels in offering a wide variety of forex pairs, making it ideal for forex traders.
Verdict: If you are mainly focused on forex trading, IC Markets offers a larger selection. However, Deriv.com has the unique advantage of synthetic indices for those looking for more diverse trading opportunities.
Account Types
Different account types cater to various traders, from beginners to professionals.
- Deriv.com: Deriv.com offers a Standard Account, which is suitable for most traders. Additionally, you can open a Synthetic Account for synthetic indices trading or a MT5 Financial Account for access to forex and commodities.
- IC Markets: IC Markets offers three main account types: the Standard Account (commission-free), the Raw Spread Account (low spreads, commission-based), and the Islamic Account (swap-free). This gives traders flexibility depending on their trading style and preferences.
Verdict: IC Markets offers more account type options, especially for forex traders, while Deriv.com is more straightforward with fewer account types.
Customer Support
Good customer support is essential when you need help with your account or platform issues.
- Deriv.com: Deriv offers 24/7 customer support through live chat, email, and phone. The platform also provides detailed educational resources for new traders.
- IC Markets: IC Markets also provides 24/7 support via live chat, email, and phone. They are known for their responsive customer service, and they have a wide range of educational tools, including webinars, tutorials, and guides.
Verdict: Both brokers offer excellent customer support, making it a tie in this category.
Deposit and Withdrawal Options
Ease of depositing and withdrawing funds is crucial when selecting a broker.
- Deriv.com: Deriv.com supports multiple payment methods, including credit/debit cards, bank transfers, e-wallets like Skrill and Neteller, and cryptocurrencies. Withdrawals are generally processed within 1-2 business days.
- IC Markets: IC Markets also offers a wide range of payment options, including credit/debit cards, bank transfers, PayPal, Skrill, Neteller, and cryptocurrencies. Withdrawals are fast, often processed on the same day.
Verdict: Both brokers offer flexible deposit and withdrawal options, but IC Markets is known for faster withdrawal processing.
Conclusion
When it comes to Deriv.com vs IC Markets, the decision ultimately depends on your trading style and preferences.
- Choose Deriv.com if you’re a beginner looking for an easy-to-use platform or if you’re interested in trading synthetic indices.
- Choose IC Markets if you’re an experienced trader, especially in forex, and want access to low spreads, advanced trading platforms, and a wide range of forex pairs.
Both platforms offer strong features, but the choice comes down to what suits your trading needs best. Take your time to explore both brokers and choose the one that aligns with your goals.
By considering the factors above, you’ll be better equipped to make an informed decision.
Editorial Staff at Chweya is a team of financial experts led by Vincent Nyagaka, with over 9 years of experience in finance, commerce, forex, crypto, and marketing. Started in 2014, Chweya is now among the largest free financial resource sites in the industry and is often referred to as Wikipedia for business.