Compare IC Markets vs USGFX

Compare IC Markets vs USGFX

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

IC Markets and USGFX Comparison

These brokers each support trading with robots and social and copy trading. Both provide MT4 and MT5. IC Markets however offers cTrader as well and provides more markets to trade (on MT5).

Each broker is regulated by the ASIC in Australia. IC Markets is additionally regulated by the CySEC in Cyprus and the FSA in the Seychelles.

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 the Standard, Raw Spread, Islamic (Swap Free) and cTrader Raw accounts. IC Markets provides market analysis, Web TV (market commentary and trade ideas in a video), educational articles and video tutorials and an economic calendar on its website. IC Markets provides ZuluTrade and Myfxbook for social and copy trading. IC Markets uses Equinix NY4 and London LD5 Servers to deliver low latency trading conditions and has micro (0.01) lot trading.
  • IC Markets's Standard account does not charge a commission, but the Raw Spread and cTrader Raw accounts charge a commission. Scalping, hedging and automated trading are allowed.
  • 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 available on the VIP account. UGSFX support social and copy trading via ZuluTrade and Myfxbook. All account types have a minimum trade size of 0.01 lots.
  • USGFX provides Trading Central, the Recognia Trading System (which offers trading ideas), analysis, an economic calendar and an Education Center on its website with webinars, seminars, a trading guide and Blog and contests. A minimum deposit of $10,000 provides access to the Trader's Club which offers features including personalised coaching, market research and commentary, premium trading tools and services and structured education.

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 (CySEC regulated) is . Maximum leverage for IC Markets (ASIC or FSA regulated) 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 with an average of 0.1 for EUR/USD, from 1 for UK100, 0.0 for Gold, and 0.04 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.

Online trading platforms

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

Why IC Markets or USGFX ?

Traders who want to trade on MetaTrader 4 (MT4) or MetaTrader 5 (MT5) can do so at either broker. Those who want to trade on cTrader can do so at IC Markets. IC Markets offers more markets to trade and a relatively large number for an ECN broker.

Comparison summary

  • Each broker provides CFD trading
  • Both brokers support social and copy trading
  • Each broker allows automated trading
  • Both offer MT4 and MT5
  • IC Markets additionally provides cTrader
  • USGFX has a lower minimum deposit
  • IC Markets has more markets to trade

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