IC Markets vs NSFX Comparison

IC Markets vs NSFX ECN Forex Broker Comparison

IC Markets versus NSFX
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$200230+MT4, MT5, cTraderASIC
$30060+MT4, JForexMFSA

IC Markets and NSFX Comparison - ECN Forex Brokers with non-ECN accounts

These are both ECN Forex brokers, that is they can provide no dealing desk conditions with very low variable spreads, which come with a commission charge. However they also offer commission free trading. IC Markets does this with STP trading, with higher spreads, while NSFX provides a dealing desk instant execution account, but with fixed spreads.

So IC Markets has the distinction of allowing trading styles such as scalping and EAs on all accounts, while NSFX allows these kinds of styles only on its no dealing desk ECN accounts. But NSFX has the distinction of being an ECN broker, which also allows non-ECN trading with fixed spreads. As well as Forex, they also provide other markets to trade.

NSFX requires a higher minimum deposit to access ECN services. Both brokers provide MT4, but IC Markets also offers MT5 and cTrader and NSFX also provides JForex. JForex and cTrader are platforms which aim to enhance the experience of ECN trading, with features such as Level II pricing. IC Markets is regulated by the ASIC in Australia and NSFX is regulated by the MFSA in Malta.

Quick comparison

Both are MT4 ECN brokers. NSFX also offers JForex and a fixed spread Forex account. For ECN trading, NSFX has a higher minimum deposit

Minimum deposit and account types

The minimum deposit for IC Markets is $200 and the minimum deposit for NSFX is $300.

  • 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.
  • 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.
  • NSFX offers three account types. These are the MT4 Fixed, MT4 ECN and JForex accounts. The minimum deposit for the MT4 Fixed account is $300, the minimum deposit for the MT4 ECN account is $3,000 and the minimum deposit for the JForex account is $5,000.
  • The NSFX MT4 Fixed account does not charge commissions, the MT4 ECN and JForex accounts do. On its website NSFX provides Trading Central along with analysis, news and an economic calendar and the NSFX academy which includes an FX Video Course, Trading Examples and Guides and a Forex eBook. An Islamic account is available.
  • Hedging at NSFX is allowed on all three account types but only on the MT4 ECN and JForex accounts are EAs enabled and scalping allowed.

Account currencies

Account currencies for IC Markets are: GBP, USD, EUR, AUD, CAD, SGD, NZD, HPY, HKD and CHF. Account currencies for NSFX are: GBP, USD and EUR.

Markets

  • IC Markets offers 230+, covering Forex pairs, Indices, Energy, Precious Metals, Soft Commodities, Cryptocurrencies, Bonds, Stocks and ETFs.
  • NSFX offers 60+, covering Forex pairs, Indices, Energy, and Precious Metals on the MT4 ECN and JForex accounts. On the MT4 Fixed account it offers Forex Major pairs.
  • IC Markets provides 60+ Forex pairs, NSFX provides 50+ Forex pairs.

Spreads and leverage

  • 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, from 1 for UK100, 0.3 for Gold, and 0.01 for US Crude Oil. For the Standard account EUR/USD spreads are from 1, with an average of 1.1.
  • Spreads at NSFX are fixed for the MT4 Fixed account and are 3 for EUR/USD, 0.60 for Gold (XAU/USD), 3 for UK100 and 0.06 for US Crude Oil
  • NSFX offers variable ECN spreads for the MT4 ECN and JForex accounts, EUR/USD has an average spread of 0.4 (but can be seen as low as 0.1), Gold has an average spread of 0.09, UK100 has an average spread of 2 and US Crude Oil has an average spread of 0.05.

Maximum leverage for IC Markets is 500:1. Maximum leverage for NSFX is .

Commissions

  • IC Markets charges a commission of $3.50 per lot per side for the True ECN account and the cTrader account charges a commission of $3 per 100,000 USD traded per side.
  • NSFX's MT4 ECN and JForex accounts charge commissions of $8 per lot round trip (equivalent to $4 per lot per side).

Platforms

Both brokers provide MT4. IC Markets also offers MT5 and cTrader and NSFX also offers JForex. These platforms are available on desktop, tablet and mobile. Micro lot trading is allowed on all account types for each broker.

Comparison summary

  • Both brokers provide ECN accounts with low spreads plus a commission charge
  • IC Markets also offers STP trading with higher variable spreads and no commission charge
  • NSFX offers non-ECN fixed spread dealing desk trading, with no commission charge
  • IC Markets can provide more markets to trade
  • Both brokers offer MT4
  • IC Markets also provides MT5 and cTrader, NSFX also provides JForex
  • To access cTrader, IC Markets requires a $200 minimum deposit
  • To access JForex, NSFX requires a $5,000 minimum deposit
  • Both brokers allow scalping and EAs, on no dealing desk accounts
  • IC Markets is regulated by the ASIC in Australia, NSFX is regulated by the MFSA in Malta

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