IC Marketsvs
MIFXForex Broker Comparison
IC Markets and MIFX clash on regulation, pricing, and platform breadth, pitting global ECN access against domestic licensing. The tension centers on cost, execution, and transparency.
Our Verdict
IC Markets winsClear Winner
IC Markets edges out MIFX overall, driven by higher editorial score, stronger regulation, and deeper, multi-platform execution.
IC Markets
4.7/5
MIFX
3.8/5
Key Differences
- 1Top-tier regulators: IC Markets is flagged as having top-tier oversight; MIFX does not.
- 2Number of instruments: 2200 for IC Markets and 65 for MIFX.
- 3Proprietary platform: MIFX offers a proprietary platform; IC Markets does not.
Who should choose IC Markets vs MIFX?
Find out which broker best suits your trader profile.
Choose IC Markets if…
Choose IC Markets for true ECN spreads with 0 pips, plus top-tier regulation and multiple major platforms.
Choose MIFX if…
Choose MIFX if you want a domestically regulated broker with a proprietary platform and local payments.
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
Recommended
IC Markets offers tighter spreads from 0.00 pips vs 1.50 pips for MIFX, reducing trading costs.
Best for safety & regulation
Recommended
IC Markets vs MIFX: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.7/ 5 | 3.8/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.6 / 5▲ | 3.7 / 5 |
IC Markets vs MIFX Forex Broker Pros & Cons
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
IC Markets vs MIFX: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
5
IC Markets
criteria wins
1
MIFX
criteria win
Highlighted rows show where the two brokers differ
| Criteria | IC Markets | MIFX |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Fail |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Fail |
| Compensation scheme (e.g. FSCS) | Pass | Fail |
| 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 | Pass |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Fail |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Fail |
IC Markets vs MIFX: Frequently Asked Questions
IC Markets rates 4.7/5 versus 3.8/5 for MIFX. IC Markets edges ahead on our composite score, though both brokers meet a reasonable standard for most traders.
IC Markets starts from 0 pips, tighter than MIFX's 1.5 pips. Tighter spreads lower the cost per trade, which matters most for high-frequency and scalping strategies.
MIFX has $30, while IC Markets requires at least $200. This makes MIFX more accessible for traders with limited starting capital.
IC Markets holds top-tier regulation (ASIC, FSCA, CySEC), providing stronger investor protections. MIFX may be regulated but does not hold top-tier status in our data. Verify regulatory status on each regulator's public register before depositing funds.
For beginners, two factors stand out: MIFX requires a lower minimum deposit ($30), lowering the barrier to entry, and IC Markets provides negative balance protection, capping losses at your deposit amount. Also compare demo account availability and educational resources before deciding.
IC Markets lists maximum leverage of 500:1, while MIFX lists up to 100:1. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
IC Markets charges $7 per lot on commission-based accounts. Commission details for MIFX are not currently available. Check their website for up-to-date pricing.
IC Markets supports cTrader, MetaTrader 5, TradingView, MetaTrader 4, while MIFX supports Proprietary Web/Mobile, MetaTrader 4. Both provide MetaTrader 4. IC Markets has exclusive access to cTrader and MetaTrader 5 and TradingView. MIFX has exclusive access to Proprietary Web/Mobile.
