Reliability is crucial in Forex trading, although this depends on the dealer you pick. You should be able to trust your merchants to protect your investment on their platform. However, many brokers in town offer you trust, security, low-cost fee and other enticing benefits, which makes it difficult to spot the scammers among them. In today’s article, we will look at two of the biggest brokers in forex trading to see which of them you should trust. The two brokers we will be considering today are IC Markets and Fx Primus.
Fx Primus Vs IC Markets: Overview
Fx Primus is situated in Limassol, Limassol, Cyprus and was founded to meet the demand for fast access to trading/exchanging accounts in any part of the world regardless of the time of the day. The platform offers the most proficient and reliable means of exchanging stages on the web, tablet or mobile.
IC Markets endeavours to offer you the most ideal client assistance and backing. The platform has a lot of involvements inside the forex business, so it can comprehend what dealers need. You can exchange with certainty, realising that the IC Markets group will constantly be there to help 24 hours daily and 7 days a week.
IC Markets mission is to make the best-exchanging experience for retail and institutional clients the same, permitting brokers to focus more on their exchange. As stated by the platform, brokers developed it for dealers. IC Markets is devoted to offering prevalent spreads, execution and excellent management of funds.
How Does Fx Primus Operate
Fx Primus is a completely functional MT-4 platform that takes special care of the different requirements of merchants. Fx Primus is famous in light of the fact that it makes exchanging easier. Besides, you can finance your transaction at zero burdens and exchange for the ideal asset at the ideal cost. Fx Primus is popular because it is produced and dispatched by reputable people in the trading industry. It is important to note that CYSEC, VFSC, and FSCA authorise Fx Primus to assure users of the validity and realness of the exchanging platform.
How Does IC Markets Operate?
IC Markets gives you one of the absolute best services in FX exchanging. IC Markets provides everyone with the tools they would need for technical market reading, including normal pattern pointers, oscillators, unpredictability measures, and line drawings that can be accessed straightforwardly inside the broker platform.
IC Markets includes a simple tap trading from different screens and customisable designs. You can handle your accounts, exchange full lists of items, and use more than 30 specialised indicators for a market investigation with full access to authentic information and progressed graphing candles.
Fx Primus Vs IC Markets: User Experience
Fx Primus can be summed up as a reliable intermediary that gives tailor-made account types and market-driving exchanging platforms to a worldwide market. Fx Primus is managed by two level 2 controllers (medium trust) and one level 3 controller. Fx Primus has a trust score of 74 out of 100 in terms of user experience.
IC Markets is an ASIC and CySEC-managed forex specialist with strong forex exchanging platforms and low spreads. The broker is an excellent choice for dealers searching for low charges utilising the MetaTrader 4 or 5 stages. In essence, if you can use the MT4 or 5, you can find IC Markets easy to use. It has a rating of 4.5/5 in Trustpilot.
Fx Primus Vs IC Markets: User Interface
A platform’s UI (User Interface) talks about how easy it is to relate with a PC, site or application. The objective of powerful UI is to make the client’s experience simple and instinctive, requiring the least effort from the user to get the greatest result.
IC Markets offers various instructive recordings to help forex brokers utilise the market watch, guide, exchange terminal, and submit different request types. Hence, a bit better than that of Fx Primus.
Fx Primus Vs IC Markets: Securities
Web securities protect organisations and PC frameworks from harm or the breach of programming, equipment, or information. It incorporates shielding a platform’s frameworks from misleading or hindering the results they are intended to give.
Web security is inseparable from the network safety and covers site security, including safeguarding sites from outside attacks. It incorporates cloud security and web application security, which separately protect cloud administrations and online applications.
IC Markets is viewed as protected since a top-level ASIC manages it. However, the platform involves CFDs which are high-risk forex instruments accompanied by about 74.32% of retail financial broker recording loss of cash while exchanging CFDs with IC Markets. This degraded its security capacity.
On the other hand, Fx Primus is safe to trade with Fx Primus, although Fx Primus’ regulation is not as strict as other brokers. It separates client funds from its operating capital and offers negative balance protection to its consumers.
Fx Primus Vs IC Markets: Fees
IC Markets does not charge a commission on Standard Accounts and increases the spread gotten from their liquidity suppliers. IC Markets’ Raw Spread Account also shows the crude interbank spread gotten from their liquidity suppliers. Moreover, on this type of account, the platform charges a commission of $3.5 per standard round turn.
Transacting with Fx Primus will involve expenses from $5 USD, spreads from 0.5 pips to 1.7 pips, and commissions of up to $10 USD, depending on the record dealers selected. The minimum deposit also begins from $15 USD.
FAQs
- Does IC Markets allow one to open more than a single account?
IC Markets permits you to open different trading accounts. You can open an extra exchanging account through your Client Area dashboard.
- Does IC Markets approve within days?
Verification of client account normally gets approved within moments at most, two or three hours at times. You can email them if you have not heard back from the IC Markets team.
- How many currencies are on FX Primus?
At Fx Primus, you can look over six base monetary currencies: USD, EUR, GBP, SGD, PLN, and THB.
Conclusion
We have figured out the major differences between Fx Primus and IC Markets. From our view, we would consider both to be almost equal considering the pros and cons of the two of them. Our research further tells us that the basic idea for every broker is security, and both forex merchants offer an excellent security framework.
Therefore, the ball is in your court to choose the one that is more suitable for you.