Detailed side-by-side analysis of ICMarkets vs NordFX
| Feature | ICMarkets | NordFX |
|---|---|---|
| Headquarters | Sydney, Australia. | Netherlands. |
| Type of Broker | ECN | Forex |
| Founded | 2007 Older | 2008 |
| Regulated By | CySEC, FSA, ASIC | FSA, FSC |
| Offices | Level 4, 50 Carrington Street, Sydney, NSW 2000, NSW 2000, Australia | Spoorstraat 17P, Amersfoort, 3811MN, Netherlands. |
| Supported Languages | ENGLISH, 简体中文, ไทย, INDONESIA, 한국어, DEUTSCH, FRANÇAIS, PORTUGUES, ESPAÑOL, TIẾNG VIỆT, РУССКИЙ, ITALIANO, БЪЛГАРСКИ, HRVATSKI, 繁體中文, فارس | English, Chinese, Vietnamese, Thai, Arabic, French, Spanish, Portuguese & more. |
IC Markets offers raw spreads from 0.0 pips, advanced platforms like cTrader, and tier-1 regulation. On the other hand, NordFX allows trading from as low as $10, offers leverage up to 1:1000, and supports more local payment methods.
IC Markets is better for active and professional traders who want tight spreads, fast execution, and strong regulation.NordFX is better for beginners and small accounts that need low minimum deposits and higher leverage.
IC Markets raw accounts start from 0.0 pips spreads plus $3.50 commission per lot. Whereas NordFX spreads typically range from 0 to 2.0 pips with little or no commission, meaning IC Markets is cheaper for high-volume traders.
| Feature | ICMarkets | NordFX |
|---|---|---|
| Founded | 2007 | 2008 |
| Regulation | ASIC, CySEC, FSA (Seychelles), CMA | FSC and FSA (Seychelles) |
| Minimum Deposit | $200 | From $10 |
| Maximum Leverage | Up to 1:500 | Up to 1:1000 |
| Spreads | From 0.0 pips (Raw accounts) | 0.0-1.5 pips |
| Commission | Yes (Raw accounts) | Mostly no commission |
| Platforms | MT4, MT5, cTrader | MT4, MT5 |
| Best For | Scalpers, active traders, EAs | Beginners, small accounts |
| Feature | ICMarkets | NordFX |
|---|---|---|
| Account Currencies | (60+) | USD, GBP, EUR, JPY, AUD, NZD and more. |
| Minimum Deposit | $0 | $10 |
| Maximum Leverage | 1:1000 | 1:1000 |
| Minimum Contract Size | 0.01 lots | 0.01 lots |
| ECN/STP Accounts Offered | ||
| Demo Account Expiry | N/A | N/A |
| Islamic Accounts | ||
| Traders from USA |
IC Markets focuses on fast execution and lower trading costs. It offers Raw Spread and Standard accounts on MT4, MT5, and cTrader. The Raw account starts from 0.0 pips, with a commission of $7 per lot round turn on MT4/MT5 or $3 per $100k on cTrader, while the Standard account has no commission and spreads from 0.8 pips.
NordFX offers more variety for traders with smaller starting capital. Its Pro account starts with a minimum deposit as low as $10, has no commission, and suits beginners.
The Zero account is designed for active traders, with spreads from 0.0 pips, a higher deposit requirement, and a small 0.0035% commission per side. NordFX also supports USD, BTC, and ETH account currencies, plus Islamic accounts for swap-free trading.
| Feature | IC Markets | NordFX |
|---|---|---|
| Minimum Deposit | $200 | $10 |
| Spread | 0.0 pips | 0.0 pips |
| Commission-Free Option | Yes | Yes |
| Islamic Account | Yes | Yes |
If you want professional-style trading with advanced platforms and fast execution, IC Markets feels stronger. Or, if you prefer low starting deposits and crypto-based account options, NordFX can feel more accessible for smaller traders.
| Feature | ICMarkets | NordFX |
|---|---|---|
| Typical Spread on Majors | 0.0 pips | 0.0 |
| Interest on Margin | ||
| Commission on STP or ECN/STP | $3.50 | Yes |
| EUR/USD | Yes | Yes |
| GBP/USD | Yes | Yes |
| USD/JPY | Yes | Yes |
| Hedging | ||
| Scalping |
Trading cost is where the real difference between ICMarkets and NordFX becomes clear.
ICMarkets structures its pricing around tight spreads and transparent commissions. On Raw Spread accounts (MT4/MT5), spreads start from 0.0 pips with a $3.50 per side commission ($7 per standard lot round turn).
The cTrader Raw account also starts from 0.0 pips with a $3.00 commission per 100,000 USD traded. Its Standard account is commission-free, with spreads starting from 0.6–0.8 pips.
The average EUR/USD spread on Raw accounts typically sits around 0.1 pips, making it attractive to scalpers and high-volume traders.
NordFX takes a simpler two-account approach. The Pro account is commission-free, with spreads from 1.0 to 2.0 pips and a minimum deposit of $10–$50, making it accessible for beginners.
The Zero account offers spreads of 0.0 pips with a commission of 0.0035% per side (roughly $7 per standard lot round turn) and requires a minimum deposit of $100–$200.
| Feature | ICMarkets | NordFX |
|---|---|---|
| Raw/ECN Spreads | From 0.0 pips | From 0.0 pips (Zero account) |
| Average EUR/USD Spread | ~0.1 pips (Raw) | Typically higher than ICMarkets |
| Commission (Raw/Zero) | $7 per lot round turn (MT4/MT5) | ~$7 per lot round turn (Zero) |
| Standard/Pro Account Spread | 0.6–0.8 pips (no commission) | 1.0–2.0 pips (no commission) |
| Minimum Deposit | Recommended $200 | $10–$50 (Pro), $100–$200 (Zero) |
| Deposit Fees | None (bank fees may apply) | None (bank fees may apply) |
| Withdrawal Fees | None (bank fees may apply) | None (bank fees may apply) |
| Swap Fees | Yes (overnight positions) | Yes (overnight positions) |
| Islamic Account | Available | Available |
| Max Leverage | Up to 1:500 (varies by entity) | Up to 1:1000 |
ICMarkets generally delivers lower effective trading costs for active traders due to tighter average spreads and deep liquidity.
NordFX remains competitive for small accounts, especially on its Pro account, but wider spreads can increase long-term trading costs.
For precision trading and volume strategies, ICMarkets has the edge. For low entry capital and high leverage flexibility, NordFX is more accessible.
| Feature | ICMarkets | NordFX |
|---|---|---|
| Platforms Offered | MT4, MT5, cTrader, TradingView | Copy Trading, MT4, MT5 |
| One-Click-Execution | ||
| Mobile Alerts | ||
| Email Alerts | ||
| VPS Offered | ||
| MetaTrader Server Time (winter) | N/A | N/A |
IC Markets delivers four major platforms: MT4, MT5, cTrader, and TradingView integration. It supports advanced infrastructure, including VPS hosting in London (LD5), Depth of Market (DOM), algorithmic trading, and over 400+ indicators, 110+ drawing tools, and 15+ chart types via TradingView.
NordFX, in contrast, focuses on MetaTrader 4 and MetaTrader 5 only, available on desktop, web, and mobile. It supports forex, crypto, stocks, and commodities trading.
Traders can access Expert Advisors (EAs), built-in economic calendars (MT5), and technical tools such as Fibonacci, channels, and geometric charting tools.
IC Markets wins for advanced traders, scalpers, and algorithmic users who need platform variety, institutional-grade infrastructure, and deep analytical tools.
NordFX is suitable for traders who prefer the simplicity of MetaTrader platforms and want higher leverage with lower entry requirements.
| Feature | ICMarkets | NordFX |
|---|---|---|
| Number of Pairs | 61+ | 33 |
| CFD's | ||
| Metals | ||
| Oil | ||
| Indices | ||
| Stocks | ||
| Futures | ||
| Binary Options |
IC Markets offers over 2,100 tradable instruments across seven asset classes. Its offering includes 60+ forex pairs, 25+ global indices, 22+ commodities, 2,100+ global shares, 20+ cryptocurrencies, 9 government bonds, and 4+ futures CFDs. Stock CFDs span major exchanges like NYSE, NASDAQ, and ASX, while crypto markets trade 24/7.
In contrast, NordFX provides a smaller but focused multi-asset lineup, including 30+ forex pairs, 11+ cryptocurrency pairs, 20–70 global stock CFDs, major global indices, and key commodities like gold and oil.
| Asset Class | IC Markets | NordFX |
|---|---|---|
| Total Instruments | 2,100+ | Limited (Forex, Crypto, Stocks, Indices, Commodities) |
| Forex Pairs | 60+ (majors, minors, exotics) | 30+ (majors, minors, exotics) |
| Indices | 25+ global indices (NASDAQ, FTSE, DAX) | Major indices (S&P 500, NASDAQ, Dow Jones, DAX 40) |
| Commodities | 22+ (Gold, Silver, Oil, Gas) | Gold, Silver, Brent, WTI |
| Stocks (CFDs) | 2,100+ shares (NYSE, NASDAQ, ASX) | 20–70 global stocks |
| Cryptocurrencies | 20+ digital assets (24/7 trading) | 11+ major crypto pairs (24/7 trading) |
For traders seeking an institutional-grade product depth, IC Markets offers significantly wider market coverage. NordFX suits traders who focus mainly on forex and major crypto pairs with higher leverage flexibility.
IC Markets offers multiple deposit and withdrawal methods with no internal fees. Withdrawal requests submitted before 12:00 AEST/AEDT are processed the same business day.
E-wallet withdrawals are typically completed within an instant to 24 hours, while bank transfers usually take 3–5 business days.
NordFX, on the other hand, focuses heavily on automation and crypto flexibility. The broker states that 84% of withdrawals are processed automatically, often instantly or within 1 hour.
Standard processing runs daily from 09:00 to 18:00 CET, while non-automated requests may take 1–6 business days.
| Feature | IC Markets | NordFX |
|---|---|---|
| Internal Deposit Fees | No | No |
| Internal Withdrawal Fees | No (bank intermediaries may charge) | No (third-party fees may apply) |
| Credit/Debit Cards | Visa, Mastercard | Visa, Mastercard |
| Bank Transfers | Local & International Wire | Bank Wire |
| E-Wallets | PayPal, Skrill, Neteller, UnionPay, FasaPay, RapidPay, Klarna, Poli | Skrill, Neteller, Perfect Money, SticPay, FasaPay |
| Cryptocurrencies | Not a primary method | USDT (TRC20/ERC20/BEP20), BTC, ETH |
| Processing Speed | Same-day if before 12:00 AEST/AEDT | 84% automated, instant–1 hour |
| Bank Withdrawal Time | 3–5 business days | 1–6 business days |
| Processing Hours | Business days (AEST/AEDT) | 09:00–18:00 CET daily |
| Regional Payment Systems | Limited | Binance Pay, Dragonpay, Ngan Luong, PayToday, African mobile money |
IC Markets offers structured, reliable withdrawals with strong global e-wallet support and same-day processing if submitted before the cut-off time. It is ideal for traders who prioritize regulated, predictable banking channels.
NordFX provides faster automation, crypto flexibility, and broader regional payment systems, making it attractive for small accounts and traders who prefer instant or crypto-based withdrawals.
IC Markets operates under ASIC (Australia), CySEC (Europe), CMA (Kenya), and the FSA of Seychelles, giving it one of the strongest regulatory footprints among retail forex brokers.
But IC Markets does restrict clients from certain regions, including the United States, Canada, Israel, New Zealand, Iran, and North Korea, in line with regulatory obligations.
On the other hand, NordFX is licensed primarily by the Financial Services Commission (FSC) of Mauritius and the FSA of Seychelles.
While it does not hold top-tier licenses such as ASIC or FCA, it still applies core safety measures. However, NordFX is unavailable to residents of the USA, Canada, and the EU, reflecting its offshore regulatory scope rather than higher-tier compliance.
| Safety Factor | ICMarkets | NordFX |
|---|---|---|
| Top-Tier Regulation | Yes (ASIC, CySEC) | No |
| Client Fund Segregation | Yes | Yes |
| AML & KYC Compliance | Yes | Yes |
| Negative Balance Protection | Yes | Yes |
| Regular Regulatory Audits | Yes | Limited |
IC Markets is the safer choice for regulation-conscious traders, backed by multiple regulators, including top-tier authorities, and stricter compliance standards.
NordFX offers acceptable baseline safety. But its offshore regulatory structure makes it better suited for smaller accounts.
For disciplined, high-volume trading, ICMarkets is the smarter choice. For low-entry, flexible trading, NordFX works best. Your selection should depend on experience, risk appetite, and account size.
NordFX is offshore-regulated, which offers flexibility but less protection than ICMarkets’ tier-1 regulation.
NordFX is more beginner-friendly due to low minimum deposits and simple account setup. ICMarkets is better suited for experienced traders who need professional platforms and tighter trading conditions.