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, CySEC, FSA
$100MT5, ParagonEx450+CySEC

IC Markets and UFX Comparison

UFX offers ParagonEx which is a user friendly platform with a crowd trading news feed. Crowd trading adds information about the crowd of traders, to assist traders in their analysis. IC Markets is an ECN broker and has a focus on high speed order transmission and support for a wide range of styles including scalping (UFX does not allow scalping).

Both brokers offer MT5, while IC Markets additionally provides MT4 and cTrader.

IC Markets is regulated by the ASIC in Australia, the CySEC in Cyprus and the FSA in the Seychelles. 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 MT5.

Minimum deposit and account types

The minimum deposit for IC Markets is $200. The minimum deposit for UFX 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.
  • 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 offer daily market reviews, a video library, daily recommendations and 24hr live support. Mini, Standard, Gold and Platinum accounts also have VIP trading support. Standard, Gold and Platinum additionally receive exclusive updates. Gold and Platinum also have access to MT5. Trading Central is available for traders who deposit at least $1000 into their account.

Trading styles

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

Markets

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

IC Markets can offer Forex spreads from 0 plus a commission charge. IC Markets can additionally provide Forex spreads from 1 without a commission charge, while UFX can offer Forex spreads from 2 (fixed) without a commission charge.

Maximum leverage for IC Markets (CySEC regulated) is . Maximum leverage for IC Markets (ASIC or FSA regulated) is 500:1. Maximum leverage for UFX 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 100,00 USD traded per side. Commissions are charged only for Forex and Metals.
  • UFX does not charge a commission.

Online trading platforms

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 MT5. 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.

Why IC Markets or UFX ?

Traders who want to trade on MetaTrader 5 (MT5) may do so at either broker. Those who want to trade on MetaTrader 4 (MT4) can find this platform at IC Markets along with cTrader. Traders who want to trade at an ECN broker can do so at IC Markets. Traders who want to trade with fixed spreads can trade at UFX. Traders who want to trade on a user friendly web trader with crowd trading can do this at UFX. Traders who want to social and copy trade can do so at IC Markets.

Comparison summary

  • Both broker provide CFD trading
  • Each offers MT5
  • IC Markets additionally provides MT4 and cTrader
  • UFX offers ParagonEx with a crowd trading news feed
  • IC Markets is an ECN broker and supports social and copy trading

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