Alfa Forex
IC Markets
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Overview
Alfa Forex was founded in 2011 and is headquartered in Cyprus, while IC Markets was established in 2007 and is based in Australia. Alfa Forex holds licences including Securities and Exchange Commission (SEC), while IC Markets is regulated by Australian Securities and Investment Commission (ASIC) among others. Alfa Forex serves 10,000+ clients worldwide; IC Markets has 60,000+. The minimum deposit is $0 at Alfa Forex and $200 at IC Markets.
| Feature | Alfa Forex | IC Markets |
|---|---|---|
| Min. Deposit | $0 | $200 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 2011 | 2007 |
| Country | Cyprus | Australia |
| Clients | 10,000+ | 60,000+ |
Fees
Fees are a critical factor when choosing between Alfa Forex and IC Markets, directly affecting your bottom line as a trader. Alfa Forex has a lower barrier to entry with a minimum deposit of $0 (vs $200 at IC Markets). Alfa Forex charges withdrawal fees while IC Markets does not, a notable advantage for frequent withdrawers. Alfa Forex applies inactivity fees on dormant accounts; IC Markets does not. IC Markets charges deposit fees; Alfa Forex does not. Overall, Alfa Forex scores higher on fees in our assessment.
| Feature | Alfa Forex | IC Markets |
|---|---|---|
| Min. Deposit | $0 | $200 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | Yes |
Platforms
Alfa Forex offers MT4, MT5, cTrader, while IC Markets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. The two brokers are closely matched on platform offering.
| Feature | Alfa Forex | IC Markets |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4 | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Alfa Forex and IC Markets compare. IC Markets runs regular live webinars; Alfa Forex does not. Both provide video tutorials. IC Markets publishes daily market commentary; Alfa Forex does not. Both integrate third-party research tools. IC Markets maintains an archive of past webinars for on-demand viewing. IC Markets scores higher overall in education and research.
| Feature | Alfa Forex | IC Markets |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Alfa Forex accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while IC Markets supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). IC Markets uniquely supports PayPal and Skrill and Neteller among the two brokers. IC Markets scores higher on deposit and withdrawal flexibility.
| Feature | Alfa Forex | IC Markets |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Alfa Forex and IC Markets offer live chat support. Both provide phone support. Email support is available at both brokers. Alfa Forex supports 2 languages and IC Markets supports 8, giving IC Markets broader global reach. Both brokers are comparable on support quality.
| Feature | Alfa Forex | IC Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more |