IC Markets vs BullWaves: Which Is Better in 2026? Regulation, Spreads, Withdrawals Compared

	IC Markets	BullWaves
Founded	2007	2023
Regulation	ASIC, CySEC, FSA Seychelles, SCB	FSA Seychelles
Min. deposit	from $200	$100
Spreads & commissions	Standard from 0.8 pips; Raw from 0.0 + $3.5 per lot per side (MT) or $3 (cTrader)	from 1.6 pips (Classic); Raw: $3 per lot per side (ECN)
Leverage	up to 1:1000 offshore; 1:30 in the EU and Australia	up to 1:500 (1:200 energies, 1:20 shares)
Platforms	MT4, MT5, cTrader, TradingView	MT5
Bonuses	no bonuses	in some regions
Copy trading	— check	yes
Funding & withdrawals	cards, transfers, PayPal, Skrill, Neteller, crypto; no broker fees, withdrawals within a day	see the BullWaves review

Who IC Markets suits

One of the largest ECN brokers by volume; popular with algo traders for execution and low commissions. Weak spots: $200 minimum is higher than most; no cent accounts or bonuses; education weaker than competitors.

Who BullWaves suits

MT5, ECN from 0.1, copy trading, deposit bonus. Best for copy trading and the deposit bonus. We hold a live account at BullWaves and measure conditions monthly — details in the review.

Our take

If a familiar brand or bonuses matter most, IC Markets remains a workable choice. If you value execution and withdrawal conditions we have tested, all-in cost and a clear contracting entity for your country — BullWaves.

Other comparisons: IC Markets vs Vantage, IC Markets vs VT Markets.

Frequently asked questions

Which is safer, IC Markets or BullWaves?

IC Markets: ASIC, CySEC, FSA Seychelles, SCB, since 2007. BullWaves: FSA Seychelles, since 2023. What matters most is which entity contracts with you in your country — see the reviews.

Who has lower spreads, IC Markets or BullWaves?

IC Markets: Standard from 0.8 pips; Raw from 0.0 + $3.5 per lot per side (MT) or $3 (cTrader). BullWaves: from 1.6 pips (Classic); Raw account $3 per lot per side (ECN).