IC Markets vs Kraken
Can't decide between IC Markets and Kraken? We've put both brokers head-to-head. Compare their spreads, regulation, platforms, and fees below.
Last updated: May 20, 2026
Executive Summary
IC Markets and Kraken are both well-established forex brokers, but they serve different types of traders. IC Markets scores 97/100 in our TrustMetrics™ system, edging ahead of Kraken's 94/100.
On pricing, Kraken offers tighter EUR/USD spreads (0 pips vs 0.02 pips). IC Markets supports MT4, MT5, cTrader while Kraken offers Kraken Pro, Kraken App, Web.
For regulation, IC Markets holds licenses from ASIC, CySEC, FSA while Kraken is regulated by FinCEN, FCA. Both brokers offer segregated client funds and are considered safe for retail trading.
The Verdicts
Most Trusted
IC Markets scores higher in our TrustMetrics system (97/100) compared to Kraken (94/100), making it the safer choice.
Lowest Spreads
Kraken offers better pricing with an average EUR/USD spread of 0 pips, beating the 0.02 pip average of its competitor.
Best for Beginners
With a lower minimum deposit requirement of $10, Kraken is the more accessible option for new traders.
Detailed Comparison
| Feature | IC Markets | Kraken |
|---|---|---|
Trust Score Our proprietary safety rating based on regulation and track record. | 97/100 ✓ | 94/100 |
Spreads From The lowest possible spread available on their premium accounts. | 0.0 pips | 0.0 pips (Crypto) |
Avg EUR/USD Spread The typical spread experienced during normal market hours. | 0.02 pips | 0 pips ✓ |
| Commission | $7.00/lot | 0.16% / 0.26% |
Execution Speed The average time it takes for an order to be filled. | 18ms | Fast |
| Max Leverage | 1:500 | 1:5 |
| Minimum Deposit | $200 | $10 ✓ |
| Instruments | 2,250+ | 200+ |
| Account Types | Standard, Raw Spread, cTrader Raw | Starter, Intermediate, Pro |
| Platforms | MT4, MT5, cTrader | Kraken Pro, Kraken App, Web |
| Top Regulators | ASIC, CySEC, FSA | FinCEN, FCA |
Withdrawal Speed The average processing time before funds hit your account. | 1-2 business days | 0-1 business days |
Inactivity Fee Fees charged if you do not place any trades for a specific period. | $0 (No inactivity fee) | $0 |
| Customer Support | 24/7 Live Chat, Email, Phone | 24/7 Live Chat, Email |
Which Broker Should You Choose?
Choose IC Markets if...
- ✓You need the tightest possible spreads for scalping
- ✓You prefer cTrader's advanced order management
- ✓You are a scalper or algorithmic trader
Choose Kraken if...
- ✓You want to start with a very low minimum deposit
- ✓You need the tightest possible spreads for scalping
- ✓You value crypto trading and staking
IC Markets Overview
Advantages
- ✓ True 0.0 pip spreads during London and NY sessions
- ✓ Industry-leading 18ms execution speed
- ✓ Free Equinix NY4 VPS for active traders
- ✓ No trading restrictions (perfect for EAs)
- ✓ Transparent $6/lot commission on cTrader
Drawbacks
- × No proprietary trading platform or TradingView integration
- × Education section is basic compared to competitors
- × No deposit bonus or welcome offers
Kraken Overview
Advantages
- ✓ Extremely deep liquidity for major cryptocurrencies
- ✓ Kraken Pro offers very low maker/taker fees
- ✓ Industry-leading security with never having been fully hacked
- ✓ Staking rewards available for various assets
Drawbacks
- × No traditional forex or stock CFDs
- × Not compatible with MetaTrader or cTrader
Deep Dive Analysis: IC Markets vs Kraken
1. Trust, Regulation, and Safety Audit
When comparing IC Markets and Kraken, regulatory safety is paramount. IC Markets is governed by 3 regulatory bodies, including ASIC, CySEC, FSA. In contrast, Kraken operates under 2 licenses, notably FinCEN, FCA.
IC Markets Overview: IC Markets has cemented its position as the world's leading true ECN broker since its founding in 2007. Headquartered in Sydney, Australia, the broker processes enormous daily volumes thanks to its institutional-grade infrastructure hosted in Equinix NY4 data centers. Our testing over 30 days with a live Raw Spread account confirmed that IC Markets consistently delivers on its promise of 0.0 pip spreads during peak London and New York sessions, with execution speeds averaging just 18 milliseconds.
Kraken Overview: Kraken remains one of the most trusted names in the cryptocurrency space.
Both brokers enforce strict client fund segregation in Tier-1 banking institutions, ensuring that retail capital remains shielded from corporate balance sheets. However, with a Trust Score of 97, IC Markets maintains a slight edge Kraken's score of 94.
2. Trading Costs, Spreads, and Fees Analysis
For active day traders, the spread economics between IC Markets and Kraken dictate long-term profitability. IC Markets advertises spreads from 0.0 pips with a commission structure of $7.00/lot. Kraken counters with spreads starting at 0.0 pips (Crypto) and 0.16% / 0.26% commission.
| Asset | IC Markets (Avg) | Kraken (Avg) | IC Markets (London) | Kraken (London) |
|---|---|---|---|---|
| EUR/USD | 0.02 | 0 | 0 | 0 |
| GBP/USD | 0.23 | 0 | 0.1 | 0 |
| XAU/USD (Gold) | 5.8 | 0 | 4 | 0 |
Beyond spreads, traders must consider non-trading fees. IC Markets applies an inactivity fee of $0 (No inactivity fee), while Kraken charges $0. Furthermore, IC Markets's overnight financing (swap) rates for EUR/USD long positions sit at -6.2, compared to 0 for Kraken.
3. Platforms and Execution Technology
The terminal execution environment separates retail outfits from institutional gateways. IC Markets delivers access to MT4, MT5, cTrader, boasting an average execution speed of 18ms. Meanwhile, Kraken provides Kraken Pro, Kraken App, Web with a speed latency rounding to Fast.
Platform Experience with IC Markets: IC Markets offers MetaTrader 4, MetaTrader 5, and cTrader. During our testing, the cTrader platform stood out for its clean interface, advanced order types, and full Depth of Market visibility. The MT5 offering is equally robust, with seamless EA integration and no restrictions on trading strategies. We experienced zero platform downtime during our entire testing period.
Platform Experience with Kraken: Kraken Pro provides a robust, professional trading interface with TradingView charts.
For high-frequency algorithmic traders, server colocation is critical. IC Markets dominates the scalping category due to its Equinix NY4 server collocation, delivering sub-20ms execution speeds and genuine 0.0 pip spreads during peak market hours. Scalpers will experience virtually zero requotes. Kraken Pro offers excellent liquidity for crypto scalping, though the fee model is different from zero-spread CFD brokers.
4. Account Types and Minimum Deposits
Structuring your portfolio requires selecting the correct account tier. Below is the breakdown of the proprietary account matrices for both brokers.
IC Markets Accounts
Raw Spread (cTrader)
- Min Deposit: $200
- Target: Professional Day Traders & ECN Purists
- Spreads: 0.0 pips ($6.00/lot RT)
Raw Spread (MT4/MT5)
- Min Deposit: $200
- Target: Algorithmic Traders (EA users)
- Spreads: 0.0 pips ($7.00/lot RT)
Standard Account
- Min Deposit: $200
- Target: Discretionary Swing Traders
- Spreads: 1.0 pips ($0)
Kraken Accounts
Kraken Pro
- Min Deposit: $10
- Target: Active Crypto Traders
- Spreads: 0.0 (0.16% Maker)
5. Funding, Deposits, and Withdrawals
Capital fluidity is essential. IC Markets processes withdrawals in approximately 1-2 business days, offering 5 main withdrawal avenues. Kraken processes requests within 0-1 business days using 1 methods.
IC Markets Logistics: Deposits are processed instantly for card and e-wallet payments. Bank transfers took 1-2 business days in our testing. Withdrawals were consistently processed within 24 hours for e-wallets and 1-2 business days for bank transfers. IC Markets charges zero fees on all deposits and withdrawals, though intermediary bank fees may apply for international wire transfers.
Kraken Logistics: Deposits via crypto are fast. Fiat bank transfers are processed efficiently within a business day.
6. Customer Support and Education
Navigating market volatility requires robust infrastructure support. IC Markets provides 24/7 Live Chat, Email, Phone, with our tests indicating: "IC Markets provides 24/7 live chat support. In our tests, average response time was under 2 minutes. Email queries were answered within 4-6 hours. Phone support is available during business hours. Agents were knowledgeable about platform-specific questions and account configurations.".
In parallel, Kraken delivers 24/7 Live Chat, Email, where our assessment found: "24/7 support is available and highly responsive compared to many other crypto exchanges.".
For novice traders, IC Markets is an advanced broker. While beginners can open an account, the $200 minimum deposit and lack of comprehensive education mean complete novices might struggle compared to a broker like XM. Conversely, The standard Kraken app is very easy to use for beginners looking to buy their first Bitcoin, though fees are higher than Kraken Pro.
7. Extended Comparative FAQ
Is IC Markets a true ECN broker?
Yes. IC Markets uses an ECN pricing model aggregating liquidity from 25+ Tier-1 banks, offering 0.0 pip spreads with market execution and no dealing desk intervention.
Does IC Markets allow scalping?
Absolutely. IC Markets places zero restrictions on trading styles, making it one of the best brokers globally for scalping and high-frequency trading.
What is the best IC Markets account type?
For 90% of active traders, the Raw Spread account on cTrader is the best option because it features the lowest commission ($6.00 per lot round-turn).
Is Kraken a prop firm?
No, Kraken is a cryptocurrency exchange where you trade with your own funds.
Can I trade forex on Kraken?
Kraken offers some fiat pairs (like EUR/USD) but is primarily built for cryptocurrency trading, not traditional forex CFDs.
The Bottom Line: IC Markets vs Kraken
- ✓ Scalping
- ✓ Algorithmic Trading
- ✓ Low Spreads
- ✓ ECN Trading
- ✓ Crypto Trading
- ✓ Staking
- ✓ High Liquidity
- ✓ Tighter EUR/USD spreads (0 pips)
- ✓ Lower minimum deposit ($10)
Both brokers are featured in our top broker rankings. Your choice should depend on your specific trading style, preferred platform, and geographical location.
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