Before starting a business, an investor must gather all the relevant information about the organization he will work with. If you are interested in online trading and looking for the best brokers, you can find one from the best forex broker in South Africa.
So, once you decide to start trading online, your next step is finding a suitable broker for you, FxPro or IC Markets. After conducting thorough research, we have compiled all the relevant information about FxPro and IC Markets. Here you can learn about these markets’ effectiveness, price, ease of use, trustworthiness and how they support their customers.
This comparison will help you decide whether to go for FxPro or IC Markets. Let’s get straight into the comparison of IC Markets Vs FXPro.
IC Markets vs FxPro in Trading Account Types.
When we talk about IC Markets, it is a no dealing desk (NND) or simply an electronic communications network (ECN) that helps retail investor’s access CFD and forex markets. While in contrast, FxPro is not a market maker, STP, nor does it serves as an ECN broker, and FxPro instead applies its self-made NDD execution system for trading.
While comparing IC Markets and FxPro based on account types, it is clear that both differ in their policies as IC Markets clients have the choice to select one from a Standard account or he can choose ECN pricing Raw Spread Account. While in contrast, FxPro clients are bound to spread only account types when they use MetaTrader platforms.
Clients who use IC Markets Raw Account face strict obligations to pay a flat rate round-turn commission fee, and they deliver that fee when they close their trade. A common thing among both brokers is that they include costs for those brokers getting reimbursement through the spread.
IC Markets vs FxPro in Trading Platforms
MetaTrader 4, MetaTrader 5 and cTrader are the world’s most famous trading platforms. Luckily both FxPro and IC Markets offer aces to these platforms. Remember one thing, the available trading platforms and items range differ between different types of accounts. As an IC Markets member, you can access MT4, MT5 or cTrader if you hold Raw Spread Accounts.
But being a holder of a standard account, you will be restricted to MetaTrader platforms only. Similarly, when you trade in FxPro, the execution and market access differ according to the trading platform the customer is using. However, both brokers provide access to multiple trading platforms but vary in terms and conditions.
IC Markets vs FxPro in Regulation
Rules and regulations are a primary part of any business deal. Every successful business organization holds s a set of rules and regulations and makes their clients and partners strictly act upon those rules. IC Markets and FxPro also follow some rules and require their clients to follow them. Forex markets are robustly synchronized because of the high risk of trading CFDs.
It is because financial authorities over the globe impose different methods to protect investors. Their strict regulation aims to ensure forex markets operate reasonably and efficiently.
For example, some jurisdictions like Australia require the best forex brokers in South Africa to hold funds in segregated accounts. Not only are the best forex brokers in South Africa, but all brokers are bound to follow the strict rule.
IC Markets and FxPro follow Cyprus Securities and Exchange Commission (CySEC) regulations. These regulations require forex and IC Market brokers to provide traders with negative balance protection.
IC Markets and FxPro are the two most famous brokers allowing people to trade internationally. Both differ in their rules and regulations and have different access to the global markets and trading platforms. Comparing both brokers and figuring out which is best compared to the other is challenging. Both have unique systems; one overlaps the other’s qualities through its unique approach and vice versa.
So if you are a newcomer in online trading and don’t know much about the best brokers around the globe, you can find one of the best forex brokers in South Africa as they provide the best offer to their clients with suitable financial conditions. Secondly, you can choose one from IC Markets or FxPro, but please ensure it suits your budget and other requirements.