IC Markets vs. UFX Broker Comparison

IC Markets vs. UFX Broker Comparison

IC Markets versus UFX Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$200MT4, MT5, cTrader230+ASIC
$100MT4, ParagonEx450+CySEC

IC Markets and UFX Comparison

UFX provides fixed STP spreads, IC Markets provides variable ECN spreads and STP trading. Unlike UFX, IC Markets does not restrict trading styles. UFX supports crowd trading with the ParagonEx platform and IC Markets provides low ECN spreads with an additional commission charge. IC Markets is regulated by the ASIC in Australia and UFX is regulated by the CySEC in Cyprus.

Quick comparison

IC Markets offers MT4, MT5, cTrader and ECN trading while UFX provides crowd trading on ParagonEx and offers MT4.

Minimum deposit and account types

  • 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's Standard account does not charge a commission, but the True ECN account charges a commission. The cTrader ECN also charges commissions.
  • UFX provides six account types, Micro/Mini, Mini, Standard, Gold, Platinum and Islamic. The minimum initial deposit is $100 for the Micro/Mini account, $500 for the Mini account, $1000 for the Islamic and Standard accounts, $5000 for the Gold account and $10,000 for the Platinum account. The minimum trade size ranges from 0.0025 lots for the Micro/Mini account to 1 lot for the Platinum account.
  • All UFX account types have daily market reviews, a video library, daily recommendations and 24hr live support. All except the Micro/Mini account provide a personal trading coach. Standard, Gold and Platinum accounts also have VIP trading support and exclusive updates. Gold and Platinum additionally provide SMS trading alerts and access to MT4.

Trading styles

IC Markets does not restrict trading styles, but UFX has a one minute wait before positions can be closed.


  • IC Markets offers 230+ markets covering Forex Pairs, Indices, Energy, Soft Commodities, Precious Metals, Stocks, ETFs, Cryptocurrencies and Bonds.
  • UFX offers 450+ markets covering Forex pairs, Indices, Energy, Soft Commodities, Precious Metals, Stocks and ETFs.

Cryptocurrency CFDs

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

Spreads and leverage

Spreads at IC Markets are variable and are from -0.3 for EUR/USD on cTrader (0.0 on MT4), 0.3 for Gold, 1 for UK100 and 0.01 for US Crude Oil. For the Standard account EUR/USD spreads are from 1. The standard account is an STP/ECN account and includes a mark-up.

Spreads at UFX are fixed under normal market conditions but vary according to the account type. The lowest spreads are for the Platinum account at 2 for EUR/USD, 0.50 for Gold and 0.05 for US Crude Oil. For the Micro/Mini account spreads are 4 for EUR/USD, 0.75 for Gold and 0.11 for US Crude Oil. For the Standard account spreads are 3 for EUR/USD, 0.65 for Gold and 0.07 for US Crude Oil.

Maximum leverage for IC Markets is 500:1 and maximum leverage for UFX is .


  • 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 100,00 USD traded per side. Commissions are charged only for Forex and Metals.
  • UFX does not charge a commission.


IC Markets provides a web trader, MT4, MT5 and cTrader (including cAlgo) and mobile trading and supports trading automation.

UFX provides the ParagonEx web trader, the UFX Trader App for mobile and MT4. UFX supports crowd trading on the ParagonEx platform, with a news feed which includes news about market events and the reactions of traders to them.

Comparison summary

  • IC Markets provides very low variable spreads, with a competitive commission charge
  • IC Markets also provides a Standard account type which can have higher Forex spreads
  • UFX does not charge a commission and provides fixed spreads which can be lower with higher account types
  • UFX restricts trading under one minute time frames, and IC Markets allows trading under one minute (including scalping)
  • Both offer MT4, IC Markets also provides cTrader and MT5
  • UFX offers crowd trading on ParagonEx

Search this site