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IC Markets vs TopFX 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is IC Markets better than TopFX? In our analysis of 23 international regulators across 62 of the best forex 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.

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Overall RatingIC MarketsTopFX
Overall Rating 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 4.5/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 3/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score 86 67
Winner check_circle
Review IC Markets Review TopFX Review
RegulationIC MarketsTopFX
Trust Score 86 67
Year Founded 2007 2010
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union No info No info
Tier-1 Licenses 1 0
Tier-2 Licenses 1 1
Tier-3 Licenses 1 0
Tier-1 Licenses (High Trust)IC MarketsTopFX
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 (U.K.) No No
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)IC MarketsTopFX
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)IC MarketsTopFX
SCB Authorised (Bahamas) Yes No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
InvestmentsIC MarketsTopFX
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 3583 655
Forex Pairs (Total) 61 60
U.S. 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
Disclaimers 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).
CostIC MarketsTopFX
Average Spread EUR/USD - Standard 0.62 info N/A info
All-in Cost EUR/USD - Active 0.62 info N/A info
Active Trader or VIP Discounts Yes No
Execution: Agency Broker Yes No
Execution: Market Maker Yes Yes
FundingIC MarketsTopFX
Minimum Deposit $200 Depends on payment method
PayPal (Deposit/Withdraw) Yes Yes
Skrill (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsIC MarketsTopFX
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 ToolsIC MarketsTopFX
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
Charts can be saved Yes Yes
Mobile TradingIC MarketsTopFX
Android App Yes Yes
Apple iOS App Yes Yes
Mobile Alerts - Basic Fields Yes Yes
Mobile Watchlist Yes Yes
Watchlist Syncing No No
Mobile Charting - Indicators / Studies 30 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave No Yes
Forex Calendar Yes Yes
ResearchIC MarketsTopFX
Daily Market Commentary Yes No
Forex News (Top-Tier Sources) Yes Yes
Autochartist Yes Yes
Trading Central (Recognia) Yes Yes
Social Sentiment - Currency Pairs Yes Yes
Economic Calendar Yes Yes
EducationIC MarketsTopFX
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 PairsIC MarketsTopFX
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
Review IC Markets Review TopFX Review
OverallIC MarketsTopFX
Overall Rating 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 4.5/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 3/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score 86 67
Winner check_circle
Review IC Markets Review TopFX Review
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IC Markets vs TopFX Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 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. Both IC Markets and TopFX offer MetaTrader 4 (MT4).IC Markets and TopFX both offer copy trading.

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 2928.

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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announcementPlease note:

We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

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