Alpari International vs IC Markets Forex Broker Comparison
A head-to-head comparison of Alpari International and IC Markets across regulation, trading costs, platforms, and editorial scoring.
Score 3.9 / 5
2 bonusesHistoric retail forex brand regulated by FSC Mauritius, offering MT4 and MT5 with ECN and Standard accounts, widely recognised in the CIS and emerging markets but operating under an offshore licence since the Alpari UK collapse.
VS
Score 4.7 / 5
4 bonusesTrue ECN routing with raw 0.0 pip spreads on majors plus commission, deep liquidity, and the cleanest MT4 / MT5 / cTrader stack we test.
Our Verdict
IC Markets winsClear Winner
IC Markets comes out ahead with an editorial score of 4.7/5 compared to Alpari International's 3.9/5.
IC Markets
4.7/5
Alpari International
3.9/5
Verdict by Trader Profile
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Best for low cost trading
It's a tie
Both equally suited
Both brokers offer spreads from 0 pips.
Best for safety & regulation
Recommended
IC Markets has a stronger safety profile: top-tier regulation, compensation scheme, segregated funds, negative balance protection.
Best for active traders
Recommended
Alpari International has a cost edge: lower commission ($6/lot).
Best for platform choice
Recommended
IC Markets offers more exclusive platform options: cTrader, TradingView.
Best for beginners
Recommended
IC Markets edges out Alpari International with a higher editorial score (4.7/5 vs 3.9/5), indicating a stronger overall experience for new traders.
Alpari International vs IC Markets: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 3.9/ 5 | 4.7/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 3.7 / 5 | 4.6 / 5▲ |
Fees & Spreads 30% weight | 4.1 / 5 | 5.0 / 5▲ |
Platforms & Tools 20% weight | 3.9 / 5 | 4.6 / 5▲ |
Customer Support 10% weight | 3.8 / 5 | 4.5 / 5▲ |
| Founded | 1998 | 2007 |
| Headquarters | Port Louis, Mauritius | Sydney, Australia |
| Min deposit | $5 | $200 |
| Spreads from | 0 pips | 0 pips |
| Commission / lot | $6/lot | $7/lot |
| Max leverage | 1000:1 | 500:1 |
| Withdrawal fee | Free | Free |
| Regulators | FSCA FSC | FSCA ASIC CySEC |
| Platforms | MetaTrader 4 MetaTrader 5 | MetaTrader 4 MetaTrader 5 cTrader TradingView |
| Active bonuses | ||
| Visit broker | Visit Alpari International | Visit IC Markets |
Alpari International vs IC Markets Forex Broker Pros & Cons
Pros
26-year brand history in retail forex
Mature PAMM investor platform - one of the originals
ECN accounts with $6 per-lot commission competitive with top ECN desks
Wide geographic reach across CIS, MENA, and Africa
Client funds held in segregated accounts
Raw spread account available
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Pros
True ECN routing with raw 0.0 pip spreads
All three major platforms (MT4, MT5, cTrader)
Deep liquidity from 25+ tier-1 sources
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Cons
FSC Mauritius licence - lower investor protection than FCA/ASIC/CySEC
Legacy of UK entity collapse in 2015 is a cautionary reference point
No top-tier regulatory licence for its core international client base
No negative balance protection
No investor compensation scheme
No proprietary platform
Limited charting capabilities
Cons
Not available to US residents
Higher minimum deposit than IG/OANDA
No proprietary platform
Alpari International vs IC Markets: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
0
Alpari International
criteria wins
4
IC Markets
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | Alpari International | IC Markets |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Fail | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Fail | Pass |
| Compensation scheme (e.g. FSCS) | Fail | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Pass | Pass |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Pass |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Fail | Fail |
| Mobile app | Pass | Pass |
| Advanced charting tools | Fail | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
Alpari International vs IC Markets: Frequently Asked Questions
Based on our independent editorial scoring, IC Markets ranks higher with a score of 4.7/5 vs 3.9/5 for Alpari International. The best choice still depends on your individual trading needs; Alpari International and IC Markets may each suit different trader profiles.
Both Alpari International and IC Markets offer spreads starting from 0 pips, making them equivalent on this metric. Consider commissions and account types when evaluating total trading costs.
Alpari International has a lower minimum deposit of $5, while IC Markets requires at least $200. This makes Alpari International more accessible for traders with limited starting capital.
IC Markets holds top-tier regulation (FSCA, ASIC, CySEC), providing stronger investor protections. Alpari International may be regulated but does not hold top-tier status in our data. Always verify regulatory status with the broker directly before depositing funds.
For beginners: Alpari International has a lower minimum deposit ($5), lowering the barrier to entry; IC Markets offers negative balance protection, capping losses at your deposit amount. Also weigh up educational resources and customer support quality before deciding.
Alpari International offers maximum leverage of 1000:1, while IC Markets offers up to 500:1. Available leverage varies by account type, instrument, and jurisdiction. Higher leverage amplifies both potential profits and losses. Always use appropriate risk management.
Alpari International charges $6 per lot, lower than IC Markets's $7 per lot. Lower commissions benefit active traders who execute many trades per day.
Alpari International supports MetaTrader 4, MetaTrader 5 and IC Markets offers MetaTrader 4, MetaTrader 5, cTrader, TradingView; both support MetaTrader 4, MetaTrader 5; IC Markets exclusively offers cTrader, TradingView.
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Score 3.9 / 5
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