Broker Overview
IC Markets
IC Markets is an execution-focused broker built around raw pricing, low-latency infrastructure, and platform depth. It is particularly well suited to scalpers, algorithmic traders, and experienced traders who care more about trading conditions than about a simplified beginner-first experience.
Axi
Axi is a broad retail-to-active-trader broker with a simpler account ladder, strong MT4 ecosystem, and a more straightforward onboarding path. For an English-language Malaysia audience, Axi is easier to position as a practical all-round broker for traders who want low starting barriers without moving immediately into a fully execution-specialist environment.
Regulation Comparison
IC Markets Regulation
- ASIC (Australia)
- CySEC (Cyprus)
- FSA (Seychelles)
Axi Regulation
- ASIC (Australia)
- FCA (United Kingdom)
- DFSA (Dubai)
- SVG / FSA registration for international entity
Note: For Malaysian traders, the exact onboarding entity can differ by residency flow and broker group structure. That matters because leverage, legal documentation, and certain payment methods may vary depending on the entity you register under.
Account Types Comparison
IC Markets Account Types
- Standard Account
- Raw Spread Account (MT4 / MT5)
- cTrader Raw Spread Account
Min Deposit: No minimum deposit requirement stated in the Help Centre, although some promotional pages still frame USD 200 as a practical starting level.
Axi Account Types
- Standard Account
- Pro Account
- Elite Account
Min Deposit: $5 (Standard), $500 (Pro), $25,000 (Elite)
Verdict: Axi is easier to explain to a mixed retail audience because its Standard, Pro, and Elite ladder is clean and clearly priced. IC Markets is stronger for traders who already know they want raw pricing, but its deposit messaging is less straightforward because the Help Centre and promotional pages do not always present the entry point in exactly the same way.
Spreads & Execution
IC Markets
- Standard Account: From 0.8 pip
- Raw Spread Account: From 0.0 pips
- Average EUR/USD: 0.1 pips on Raw Spread
- Commission: $3.50 per side per lot on MT4 / MT5 Raw Spread
- Execution: Average execution speeds under 40ms with Equinix NY4 infrastructure
Axi
- Standard Account: Avg. EUR/USD 0.6 pips
- Pro Account: Avg. EUR/USD 0.0 pips
- Elite Account: Avg. EUR/USD 0.0 pips
- Commission: None on Standard, $4.50 round trip on Pro, $3.50 round trip on Elite
- Execution: Pricing engine connected to 20+ liquidity sources with fast execution
Winner: IC Markets wins for pure execution-focused trading. Its raw pricing model, low-latency setup, and stronger positioning for scalping and algorithmic trading make it the sharper choice for active traders. Axi is still very competitive, but it feels more like a balanced retail broker than a specialist execution venue.
Trading Platforms
IC Markets Platforms
- MetaTrader 4 (MT4)
- MetaTrader 5 (MT5)
- cTrader
- TradingView Integration
Axi Platforms
- Axi Trading Platform
- MetaTrader 4 (MT4)
- MetaTrader 4 WebTrader
- MetaTrader 5 (MT5)
- MetaTrader 5 WebTrader
- Copy Trading App
Advantage IC Markets: IC Markets has the stronger platform mix for serious active trading because it combines MT4, MT5, cTrader, and TradingView. Axi is solid and broad enough for most retail traders, but it does not match IC Markets on platform depth for execution-driven users.
Deposits & Withdrawals
IC Markets
- Funding: 15+ funding options in 10 base currencies
- Deposit Fees: No extra deposit fees
- Withdrawal Fees: No extra withdrawal fees, though international bank wire fees may apply
- Processing: Withdrawal cut-off is 12:00 AEST/AEDT for same-day processing
Axi
- Funding: Managed through the Client Portal
- Deposit Fees: Zero deposit fees
- Withdrawal Fees: Zero withdrawal fees, though other fees may still apply depending on method
- Processing: Deposits and withdrawal requests can be made anytime, and some methods can clear instantly
Winner: Axi has the cleaner retail-facing funding story. IC Markets is excellent on funding breadth, but Axi’s messaging is simpler for mainstream traders and easier to present on a Malaysia-facing comparison page.
Customer Support & Education
IC Markets Support
IC Markets offers 24/7 dedicated support and backs it up with webinars, tutorials, calculators, educational resources, and platform-specific guidance. The broker’s educational environment is broad, but its overall tone remains more execution-driven than beginner-coaching-led.
- • 24/7 dedicated support
- • Webinars and tutorials
- • Strong platform and tool coverage
Axi Support
Axi provides 24/5 multilingual support and leans heavily into trader education through Axi Academy, free eBooks, tutorials, market commentary, and trading tools. It feels slightly more approachable for retail traders who want education and broker support in one place.
- • 24/5 support in multiple languages
- • Strong education centre and tutorials
- • Good retail-friendly balance of tools and guidance
Detailed Pros & Cons
IC Markets
Pros
- Stronger raw pricing and lower-latency execution
- MT4, MT5, cTrader, and TradingView support
- Very strong fit for scalpers and algorithmic traders
- No minimum deposit requirement stated in Help Centre
- Wide funding coverage
Cons
- Less beginner-friendly positioning than Axi
- Deposit messaging can feel inconsistent across official pages
- More execution-specialist than general retail-friendly
Axi
Pros
- Clear Standard / Pro / Elite account structure
- Very accessible Standard entry point
- Strong retail-friendly funding and withdrawal flow
- Good education and support ecosystem
- MT4 / MT5 plus copy trading and proprietary platform access
Cons
- Platform stack is not as strong as IC Markets for pro traders
- 24/5 support rather than 24/7
- Pro account commission is less competitive than IC Markets Raw
Trading Costs Breakdown
| Account | Spread | Commission | Notes |
|---|---|---|---|
| IC Markets Standard | From 0.8 pip | $0 | Good no-commission option with access to the IC ecosystem |
| IC Markets Raw Spread | From 0.0 pips | $3.50 / side / lot | Average EUR/USD 0.1 pips |
| Axi Standard | Avg. 0.6 pips | $0 | Best for lower-cost retail entry |
| Axi Pro | Avg. 0.0 pips | $4.50 round trip | Cleaner upgrade path for active traders |
| Axi Elite | Avg. 0.0 pips | $3.50 round trip | VIP tier for larger balances |
Note: All spreads should be treated as floating and market-dependent. For a professional comparison page, it is better to describe the pricing structure accurately than to imply that these values stay fixed throughout the day.
Final Verdict & Recommendations
For Complete Beginners
Axi - simpler entry point and clearer retail account structure
For Professional Traders
IC Markets - stronger raw pricing, infrastructure, and platform depth
For Low-Cost Trading
IC Markets for raw-spread trading, Axi for simpler no-commission retail access
For Scalping / EA Trading
IC Markets - better fit for low-latency and execution-led strategies
For Funding Convenience
Axi - cleaner client-portal-led funding story for retail users
For Platform Variety
IC Markets - MT4, MT5, cTrader, and TradingView give it the edge
Overall Recommendation:
IC Markets wins for: raw pricing, scalping, algorithmic trading, and traders who care about execution quality above everything else
Axi wins for: simpler retail onboarding, a cleaner account ladder, approachable funding, and a more beginner-friendly overall presentation
Bottom Line: If your audience is more execution-focused, IC Markets is the stronger broker. If your audience is broader and includes newer traders, Axi is easier to position without overselling complexity.