IC Marketsvs
TPFxForex Broker Comparison
This comparison pits a true ECN, multi-platform powerhouse against a locally licensed Indonesian broker. The tension centers on regulation, cost, and platform breadth.
Our Verdict
IC Markets winsClear Winner
IC Markets edges TPFx on editorial score, driven by top-tier regulation, true ECN 0.0 pip spreads with commission, and broad platform support.
IC Markets
4.7/5
TPFx
3.7/5
Key Differences
- 1Top-tier regulation: IC Markets is regulated by FCA/ASIC/CySEC; TPFx is not.
- 2Instruments: IC Markets lists 2200; TPFx offers about 50.
- 3Proprietary platform: IC Markets lacks; TPFx provides a proprietary platform.
Who should choose IC Markets vs TPFx?
Find out which broker best suits your trader profile.
Choose IC Markets if…
Choose IC Markets if you want top-tier regulation and investor protection, plus true ECN 0.0 pip spreads with a commission across MT4, MT5 and cTrader.
Choose TPFx if…
Choose TPFx if you want MT5 alongside a proprietary platform and Indonesian regulatory coverage with local IDR funding.
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 TPFx, reducing trading costs.
Best for safety & regulation
Recommended
IC Markets vs TPFx: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.7/ 5 | 3.7/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.6 / 5▲ | 3.7 / 5 |
IC Markets vs TPFx 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 TPFx: 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
TPFx
criteria win
Highlighted rows show where the two brokers differ
| Criteria | IC Markets | TPFx |
|---|---|---|
| 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 TPFx: Frequently Asked Questions
IC Markets is the stronger choice: it rates 4.7/5 versus 3.7/5 for TPFx, a gap that reflects clear differences across regulation, fees, and platform quality in our review.
IC Markets starts from 0 pips, tighter than TPFx's 1.5 pips. Tighter spreads lower the cost per trade, which matters most for high-frequency and scalping strategies.
TPFx has $60, while IC Markets requires at least $200. This makes TPFx more accessible for traders with limited starting capital.
IC Markets holds top-tier regulation (ASIC, FSCA, CySEC), providing stronger investor protections. TPFx 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: TPFx requires a lower minimum deposit ($60), 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 TPFx 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 TPFx are not currently available. Check their website for up-to-date pricing.
IC Markets supports cTrader, MetaTrader 5, TradingView, MetaTrader 4, while TPFx supports MetaTrader 5, Proprietary Web/Mobile. Both provide MetaTrader 5. IC Markets has exclusive access to cTrader and TradingView and MetaTrader 4. TPFx has exclusive access to Proprietary Web/Mobile.
