CFI vs IC Markets
Choosing between CFI and IC Markets is a common decision for forex traders in Africa. In our analysis, IC Markets scores 86/100 on our Hub Score compared to CFI's 81/100. For traders with limited starting capital, CFI has a lower entry point at $1. Below is a detailed, data-driven comparison across fees, regulation, platforms, and more to help you decide which broker fits your trading style.
Quick Verdict
Based on our Hub Score analysis, IC Markets scores higher overall with 86/100. However, the best broker depends on your priorities — compare the detailed breakdown below to find the right fit for your trading style.
CFI
IC Markets
| Feature | CFI | IC Markets |
|---|---|---|
| Hub Score | 81/100 | 86/100 |
| Min. Deposit | $1 | $200 |
| Spreads | From 0.3 pips | From 0.0 pips |
| Max Leverage | 1:400 | 1:5000 |
| Regulation | FCA, CySEC, FSCA, SCA | ASIC, CySEC, FSA |
| Platforms | MetaTrader 4, MetaTrader 5, cTrader, TradingView, CFI App | MetaTrader 4, MetaTrader 5, cTrader, TradingView |
| Account Types | Dynamic Trader, Zero Commission, ECN, Swap Free | Standard, Raw Spread, cTrader Raw Spread, Islamic |
| Trading Instruments | Forex, Indices, Commodities, Shares, Crypto | Forex, Indices, Commodities, Shares, Crypto, Bonds |
| Founded | 2003 | 2007 |
| Headquarters | Cyprus | Sydney Australia |
Pros
- Extremely low $1 minimum deposit
- Multiple account tiers available
- Accessible for beginners
- 1000+ instruments
- Competitive spreads from 0.3 pips
Cons
- Limited brand recognition outside MENA region
- Fewer advanced trading tools
- Limited educational resources in English
Pros
- Raw spreads from 0.0 pips
- Ultra-fast execution speeds
- Institutional-grade liquidity
- Award-winning execution quality
- 2300+ instruments available
Cons
- Higher minimum deposit $200
- Limited educational resources
- Complex for beginners
- Fewer account type options
Which broker has lower spreads, CFI or IC Markets?
CFI offers spreads from From 0.3 pips, while IC Markets offers spreads from From 0.0 pips. Check each broker's specific account type for exact spread conditions.
What is the minimum deposit for CFI vs IC Markets?
CFI requires a minimum deposit of $1, while IC Markets requires $200.
Is CFI or IC Markets better regulated?
CFI is regulated by FCA, CySEC, FSCA, SCA, while IC Markets is regulated by ASIC, CySEC, FSA. Always verify regulation status directly with the relevant authority.
Which is better for beginners, CFI or IC Markets?
CFI is marked as beginner-friendly. IC Markets may be better suited for experienced traders. Consider factors like minimum deposit, educational resources, and platform ease of use.
Disclaimer: This comparison is based on publicly available information and our independent analysis. Broker offerings, fees, and regulatory status can change at any time. Always verify current conditions directly with the broker before opening an account. Trading forex involves significant risk of loss and is not suitable for all investors.