Compare IC Markets vs USGFX

Compare IC Markets vs USGFX

IC Markets vs USGFX
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$200MT4, MT5, cTrader230+ASIC
$100MT4, MT560+ASIC

IC Markets and USGFX Comparison

IC Markets is an ECN broker which also offers STP/ECN trading. USGFX provides STP/ECN trading. Both brokers offer both MT4 and MT5. IC Markets additionally provide cTrader (an platform optimised for ECN trading). Each broker is regulated by the ASIC in Australia.

ECN conditions

IC Markets aggregates prices from multiple liquidity providers for its ECN account and also offers STP/ECN trading. USGFX is an STP/ECN broker, as it uses one liquidity provider (which itself accesses multiple liquidity providers). Neither broker restricts trading styles, allowing scalping, EAs and news trading. Both brokers use infrastructure to provide high speed order execution, using Equinix data centres.

Quick comparison

IC Markets offers ECN trading on MT4, MT5 and cTrader and can provide more markets. USGFX has STP/ECN trading on MT4 and MT5.

Minimum deposit and account types

The minimum deposit for IC Markets is $200. The minimum deposit for USGFX is $100.

  • IC Markets offers four account types. These are Standard, True ECN, Islamic (Swap Free) and the cTrader ECN account. IC Markets provides Forex news, video tutorials and and economic calendar on its website. IC Markets uses Equinix NY4 and London LD5 Data Centres to deliver low latency trading conditions and has micro lot trading.
  • IC Markets's Standard account does not charge a commission, but the True ECN account charges a commission. The cTrader ECN also charges commissions.
  • IC Markets says that the True ECN and cTrader accounts are more suited to EAs and Scalpers, but all trading styles are welcome on each account type. IC Markets offers EA Lab and EA Analyser, which are tools for building robot and analysing them.
  • USGFX offers four account types. These are Mini, Standard, VIP and Pro-ECN. The minimum deposit for the Mini account is $100, the minimum deposit for the Standard account is $10,000, and the minimum deposit for both the VIP and Pro-ECN accounts are $50,000. The different account types can offer lower spreads, with the lowest being available on the VIP account. All account types have a minimum trade size of 0.01 lots.
  • USGFX offers Trading Central, the Recognia Trading System (which provides trading ideas), analysis, one on one coaching and an Education Center on its website with webinars, seminars, a trading guide and Blog, along with contests.

Markets

  • IC Markets offers Forex, Indices, Energy, Precious Metals, Cryptocurrencies, Soft Commodities, Bonds, Stocks and ETFs, with 230+ available.
  • USGFX offers Forex, Indices, Energy, Precious Metals and Cryptocurrencies, with 60+ available.

IC Markets has more Currency Pairs available, with 55+ available versus 20+ at USGFX.

Cryptocurrency CFDs

  • IC Markets offers Bitcoin, Ethereum, Litecoin, Dash, Bitcoin Cash, Ripple, Emercoin, Namecoin, Peercoin and EOS.
  • USGFX offers Bitcoin.

Leverage and spreads

Maximum leverage for IC Markets is 500:1. Maximum leverage for USGFX is 500:1, except on the Pro-ECN account where it is 100:1.

  • Spreads at IC Markets are variable and are from -0.3 (on cTrader) and 0.0 on MT4 with an average of 0.1 for EUR/USD with a commission charge, from 1 for UK100, 0.3 for Gold, and 0.01 for US Crude Oil. For the Standard account EUR/USD spreads (without a commission charge) are from 1, with an average of 1.1.
  • USGFX offers variable spreads. On the Mini account, EUR/USD is from 2.8, on the Standard account EUR/USD is from 2.2, on the Pro-ECN account EUR/USD is from 1.5 and on the VIP account EUR/USD is from 1.3.
  • USGFX offers Gold spreads from 0.50 on all accounts except VIP, where they are from 0.36. US Oil spreads are from 0.027, plus commission.

Commission charge

  • IC Markets charges a commission of $3.50 per lot per side for Forex and Metals on the True ECN account and the cTtrader account charges a commission of $3 per 100,000 USD traded per side.
  • USGFX does not charge commissions for Forex or Precious Metals. It does charge commissions of $5 per lot per side for CFDs.

Platform

Both brokers offer MT4 and MT5, desktop and apps. IC Markets also offers cTrader.

Comparison summary

  • IC Markets can provide low Forex spreads plus a commission charge
  • It offers additional support for analysing and building robots
  • USGFX offers Forex spread without a commission charge
  • USGFX does charge a commission for CFD trading
  • IC Markets has a wider range of markets
  • Both have MT4 and MT5
  • IC Markets also has cTrader
  • USGX has a range of trading tools and account types available to the trader
  • Both are ASIC regulated

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