IC Markets vs CFI
Choosing between IC Markets and CFI 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.
IC Markets
CFI
| Feature | IC Markets | CFI |
|---|---|---|
| Hub Score | 86/100 | 81/100 |
| Min. Deposit | $200 | $1 |
| Spreads | From 0.0 pips | From 0.3 pips |
| Max Leverage | 1:5000 | 1:400 |
| Regulation | ASIC, CySEC, FSA | FCA, CySEC, FSCA, SCA |
| Platforms | MetaTrader 4, MetaTrader 5, cTrader, TradingView | MetaTrader 4, MetaTrader 5, cTrader, TradingView, CFI App |
| Account Types | Standard, Raw Spread, cTrader Raw Spread, Islamic | Dynamic Trader, Zero Commission, ECN, Swap Free |
| Trading Instruments | Forex, Indices, Commodities, Shares, Crypto, Bonds | Forex, Indices, Commodities, Shares, Crypto |
| Founded | 2007 | 2003 |
| Headquarters | Sydney Australia | Cyprus |
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
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
Which broker has lower spreads, IC Markets or CFI?
IC Markets offers spreads from From 0.0 pips, while CFI offers spreads from From 0.3 pips. Check each broker's specific account type for exact spread conditions.
What is the minimum deposit for IC Markets vs CFI?
IC Markets requires a minimum deposit of $200, while CFI requires $1.
Is IC Markets or CFI better regulated?
IC Markets is regulated by ASIC, CySEC, FSA, while CFI is regulated by FCA, CySEC, FSCA, SCA. Always verify regulation status directly with the relevant authority.
Which is better for beginners, IC Markets or CFI?
IC Markets may be better suited for experienced traders. CFI is also beginner-friendly. 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.