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IC Markets vs TopFX 2021

Is IC Markets better than TopFX? In our analysis of 23 international regulators across 39 brokers, IC Markets is considered average-risk, with an overall Trust Score of 86 out of 99. TopFX is considered high-risk, with an overall Trust Score of 67 out of 99. Learn more about Trust Score.


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overall Rating

Feature IC Markets TopFX
Overall 4.5 3.5
Commissions & Fees 5 3.5
Offering of Investments 4.5 3.5
Platforms & Tools 4 3.5
Mobile Trading Apps 4 3.5
Research 3.5 3
Education 4 3
Trust Score 86 67
IC Markets Review TopFX Review
74-89% of retail CFD accounts lose money
Winner check_circle

Regulation

Feature IC Markets TopFX
Trust Score 86 67
Year Founded
2007 2010
Publicly Traded (Listed)
No No
Bank
No No
Tier-1 Licenses
1 0
Tier-2 Licenses
1 1
Tier-3 Licenses
1 0
Authorised in the European Union
No No

Tier-1 Licenses (High Trust)

Feature IC Markets TopFX
ASIC Authorised (Australia)
Yes No
IIROC Authorised (Canada)
No No
SFC Authorised (Hong Kong)
No No
CBI Authorised (Ireland)
No No
FSA Authorised (Japan)
No No
MAS Authorised (Singapore)
No No
FINMA Authorised (Switzerland)
No No
FCA Authorised (UK)
No No
CFTC Registered (USA)
No No
FMA Authorised (New Zealand)
No No

Tier-2 Licenses (Average Trust)

Feature IC Markets TopFX
CBRC Authorised (China)
No No
CySEC Authorised (Cyprus)
Yes Yes
SEBI Authorised (India)
No No
ISA Authorised (Israel)
No No
CBR Authorised (Russia)
No No
FSCA Authorised (South Africa)
No No
SEC Authorised (Thailand)
No No
DFSA / Central Bank Authorised (UAE)
No No

Tier-3 Licenses (Low Trust)

Feature IC Markets TopFX
SCB Authorised (Bahamas) Yes No
IFSC Authorised (Belize) No No
Cayman Islands Monetary Authority (CIMA)
No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands)
No No
FSC Authorised (Mauritius)
No No
VFSC Authorised (Vanuatu)
No No

Investments

Feature IC Markets TopFX
Forex Trading
Yes Yes
CFD Trading
Yes Yes
Tradeable Symbols (Total)
3583 655
Forex Pairs (Total)
61 60
US Stock Trading (Non CFD)
No No
Int'l Stock Trading (Non CFD)
No No
Social Trading / Copy-Trading
Yes Yes
Cryptocurrency (Physical)
No No
Cryptocurrency (CFD)
Yes Yes
Crypto Disclaimer (UK) Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).

Cost

Feature IC Markets TopFX
Average Spread EUR/USD - Standard
0.62 (August 2021) n/a
All-in Cost EUR/USD - Active
0.62 (August 2021) n/a
Active Trader or VIP Discounts
Yes No
Execution: Agency Broker
Yes No
Execution: Market Maker
Yes Yes

Funding

Feature IC Markets TopFX
Minimum Deposit
$200 Depends on payment method
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
Yes Yes
Skrill (Deposit/Withdraw)
Yes Yes

Trading Platforms

Feature IC Markets TopFX
Proprietary Platform
No No
Desktop Platform (Windows)
Yes Yes
Web Platform
Yes Yes
Social Trading / Copy-Trading
Yes Yes
MetaTrader 4 (MT4)
Yes Yes
MetaTrader 5 (MT5)
Yes No
cTrader
Yes Yes
DupliTrade
No No
ZuluTrade
Yes No

Trading Tools

Feature IC Markets TopFX
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
7 7
Charting - Indicators / Studies (Total)
30 30
Charting - Drawing Tools (Total)
15 15
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes No

Mobile Trading

Feature IC Markets TopFX
Android App
Yes Yes
Apple iOS App
Yes Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
No No
Charting - Indicators / Studies
30 30
Charting - Draw Trendlines
Yes Yes
Charting - Trendlines Moveable
No No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
No Yes
Forex Calendar
Yes Yes

Research

Feature IC Markets TopFX
Daily Market Commentary
Yes No
Forex News (Top-Tier Sources)
Yes Yes
Autochartist
Yes Yes
Trading Central (Recognia)
Yes Yes
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes

Education

Feature IC Markets TopFX
Has Education - Forex or CFDs
Yes No
Client Webinars
Yes No
Client Webinars (Archived)
Yes No
Videos - Beginner Trading Videos
No No
Videos - Advanced Trading Videos
No No
Investor Dictionary (Glossary)
Yes No

Major Forex Pairs

Feature IC Markets TopFX
GBP/USD
Yes Yes
USD/JPY
Yes Yes
EUR/USD
Yes Yes
USD/CHF
Yes Yes
USD/CAD
Yes Yes
NZD/USD
Yes Yes
AUD/USD
Yes Yes

Overall

Feature IC Markets TopFX
Overall 4.5 3.5
Commissions & Fees 5 3.5
Offering of Investments 4.5 3.5
Platforms & Tools 4 3.5
Mobile Trading Apps 4 3.5
Research 3.5 3
Education 4 3
Trust Score 86 67
IC Markets Review TopFX Review

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare IC Markets vs TopFX.

Does IC Markets or TopFX offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, IC Markets offers better pricing overall for traders.

Is IC Markets or TopFX safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. IC Markets holds 1 global Tier-1 licenses, while TopFX holds 0. Both IC Markets and TopFX hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, IC Markets earned a higher Trust Score than TopFX.

Which trading platform is better: IC Markets or TopFX?
To compare the trading platforms of both IC Markets and TopFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, IC Markets offers a better experience. With research, IC Markets offers superior market research. Finally, we found IC Markets to provide better mobile trading apps.

What about MetaTrader and copy trading?
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. IC Markets and TopFX both offer copy trading. Both IC Markets and TopFX offer MetaTrader 4 (MT4).

How many forex pairs and CFDs are available to trade?
IC Markets provides traders 61 currency pairs (e.g., EUR/USD) compared to TopFX's 60 available pairs. Forex pairs aside, IC Markets offers traders access to 3583 CFDs while TopFX has 655 available CFDs, a difference of 2,928.

Can I trust IC Markets?
IC Markets is not publicly traded and does not operate a bank. IC Markets is authorised by one tier-1 regulator (high trust), one tier-2 regulator (average trust), and one tier-3 regulator (low trust). IC Markets is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC).

Can I trust TopFX?
TopFX is not publicly traded and does not operate a bank. TopFX is authorised by zero tier-1 regulators (high trust) and one tier-2 regulator (average trust).

Is IC Markets good?
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.

Is TopFX good?
TopFX offers the MetaTrader and cTrader platform suites, and grants access to a medium range of CFD markets and forex pairs. However, TopFX struggles to compete with the best brokers in several categories, including market research and education.

Overall winner: IC Markets

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Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published website as of 01/10/2022 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the "Contact" link at the bottom of this page.

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