Checked on: 2026-08-17 | Broker terms, regulation, and pricing can change. Always verify at the official PU Prime site before opening an account.

Affiliate Disclosure: HNL Growth may earn a commission if you open an account through our links, at no additional cost to you. Risk Warning: CFDs and leveraged forex products are complex instruments and carry a high risk of losing money rapidly due to leverage. 62.2% of retail investor accounts lose money when trading CFDs with this provider. Trading forex and CFDs may not be suitable for all investors. Consider your objectives, experience, and risk appetite before trading, and ensure you understand the risks involved. Broker Disclosure: PU Prime is a live, regulated multi-entity broker (not a simulated prop-firm evaluation) — trades are executed with real capital in live market conditions, subject to normal market risk. Which PU Prime entity holds your account depends on your country of residence and determines your leverage cap and protections.

Last verified: August 2026 | Editorial Team

PU Prime vs IC Markets 2026: Fees, Platforms and Regulation Compared

Last reviewed: August 2026

PU Prime and IC Markets serve overlapping but distinct trader profiles. IC Markets is optimised for high-frequency, cost-sensitive traders who prioritise raw ECN spreads, cTrader, and deep institutional liquidity. PU Prime offers broader account accessibility — with entry points from $20 — higher leverage options under certain regulatory entities, and an integrated copy trading ecosystem. For traders building toward active trading or seeking passive exposure through social features, PU Prime provides a more complete onboarding ladder. For traders whose primary constraint is round-turn execution cost on high-volume forex, IC Markets' raw account structure has a documented spread advantage. Neither broker is universally superior; the right choice depends on your trading frequency, capital, jurisdiction, and whether execution cost or platform breadth is your primary decision filter.

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Disclosure: This page may contain affiliate links. We may earn a commission if you open an account through our links, at no extra cost to you.

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At a Glance: When Each Broker Makes Sense

	PU Prime	IC Markets
Founded	2015	2007
Regulatory entities	FSA (Seychelles, SD050), FSC (Mauritius), FSCA (South Africa), CMA (UAE)	ASIC, CySEC, FSA (Seychelles)
Primary execution model	ECN/STP across account tiers	ECN with named liquidity providers
Entry-level account	Cent account, $20 minimum	Standard account — confirm current minimum at icmarkets.com
Headline cost (EURUSD ECN-equiv.)	From 0.0 pips + commission (Prime/ECN accounts)	Raw from 0.0 pips + commission (Raw account)
Copy trading	Yes — integrated platform	No comparable integrated feature
cTrader	Not confirmed available	Confirmed available
Jurisdiction coverage	MENA, Africa, Seychelles, Mauritius	Australia (ASIC), EU (CySEC), Seychelles
Best suited for	Beginners to active traders; copy traders; MENA and African-region clients	Cost-sensitive scalpers and algo traders; Australian and EU-entity clients

Note on ASIC and PU Prime: PU Prime's official regulation page lists FSA Seychelles (SD050), FSC Mauritius, FSCA South Africa, and CMA UAE as its current regulatory entities. An ASIC licence for PU Prime was referenced in earlier third-party sources but does not appear in PU Prime's current official regulatory disclosure at time of writing. Readers in Australia should verify which entity would govern their account directly at puprime.com/regulation/ before opening an account.

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Who This Comparison Is For — and the Quick Answer

If you are a beginner or intermediate trader, or copy trading is a priority, PU Prime's account ladder and social trading ecosystem are better suited to your needs. If you are a cost-first scalper or algo trader running high monthly volume on major forex pairs, IC Markets' raw ECN model and cTrader availability are the stronger fit.

The sections below give you the evidence to verify that conclusion against your specific situation.

Open a PU Prime account — from $20 minimum deposit

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Regulatory Standing and Client Protections

Regulatory standing determines which protections apply to your funds. The two brokers have structurally different regulatory footprints, and which entity governs your account matters more than the broker's brand name.

Table T4 — Regulatory Licence Matrix

Regulator	Broker	Licence Reference	Jurisdiction	Segregated Funds
FSA Seychelles	PU Prime	SD050	Global (excluding restricted regions)	Yes — segregated client funds
FSC Mauritius	PU Prime	Confirmed on official regulation page; verify specific number at FSC register	Mauritius and supported regions	Confirm with FSC register
FSCA South Africa	PU Prime	Confirmed on official regulation page; verify specific number at FSCA register	South Africa	Confirm with FSCA register
CMA UAE	PU Prime	Confirmed on official regulation page; verify specific number at CMA register	UAE / MENA region	Confirm with CMA register
ASIC	IC Markets	Verify current number at moneysmart.gov.au	Australia	Yes — Australian client money rules
CySEC	IC Markets	Verify current number at CySEC public register	EU (via Cyprus entity)	Yes — CySEC rules
FSA Seychelles	IC Markets	Verify current number at FSA register	Global / offshore	Segregated

Jurisdiction mapping — which entity covers which trader:

The protections available to you depend on which entity holds your account, not on the broker's headline regulatory claim. As a practical guide based on official sources:

• South Africa residents opening a PU Prime account: FSCA-regulated entity
• UAE and MENA residents: CMA-regulated entity
• Mauritius residents and certain other regions: FSC-regulated entity
• All other supported regions: FSA Seychelles entity (SD050)

For IC Markets, Australian residents are served by the ASIC entity; EU residents by the CySEC entity; offshore clients by the Seychelles entity. Each entity carries materially different client protections. Verify the entity governing your account before depositing — this information should be confirmed in your account opening documents and on the broker's official regulation page.

Important caveats:

• Licence numbers for PU Prime's FSC, FSCA, and CMA entities are confirmed as present on the official regulation page but were not individually extracted; verify each against the relevant regulator's public register.
• Licence numbers for IC Markets must be verified at ASIC (moneysmart.gov.au), CySEC, and FSA registers at the time you open an account — licence status can change.
• An ASIC-regulated account carries Australian client money protections; a Seychelles FSA account operates under a different, generally lighter framework. This distinction is material.

IC Markets and UK clients: Multiple third-party sources claim IC Markets is no longer accessible to UK retail clients. This claim has not been confirmed against the FCA register (register.fca.org.uk) or an official IC Markets statement as of publication. UK-based readers must verify directly with IC Markets and the FCA register before attempting to open an account. This is treated as unverified throughout this article.

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Account Structure: Entry Points and Tier Logic

Table T1 — Account Tier Comparison

Tier	Broker	Min. Deposit	Spread Model	Commission (round turn / std lot)	Islamic Available	Best For
Cent	PU Prime	$20	Variable (balance displayed in cents)	None	Confirm with broker	Beginners testing live conditions at minimal risk; EA testing
Standard	PU Prime	$50	Variable, approx. 1.3 pips EURUSD typical	None	Confirm with broker	New to active traders wanting simplicity
Prime	PU Prime	$1,000	Raw from 0.0 pips	$7.00 RT ($3.50/side)	Confirm with broker	Experienced traders wanting tighter spreads
ECN	PU Prime	$10,000	Raw from 0.0 pips	$3.00 RT ($1.50/side)	Confirm with broker	High-volume professional traders
Standard	IC Markets	Confirm at icmarkets.com	Variable	None	Confirm with broker	Casual or less frequent traders
Raw Spread	IC Markets	Confirm at icmarkets.com	Raw from 0.0 pips	Confirm RT/side at icmarkets.com	Confirm with broker	Scalpers, algo traders, high frequency
cTrader Raw	IC Markets	Confirm at icmarkets.com	Raw from 0.0 pips	Confirm at icmarkets.com	Confirm with broker	cTrader-platform traders

PU Prime's account minimum deposits and commission figures are sourced from the official account opening page. IC Markets minimum deposits are not confirmed from official sources in this review; consult icmarkets.com for current figures.

On leverage: PU Prime advertises maximum leverage of up to 1:1000 under certain entities. This maximum does not apply uniformly across all regulatory entities or all instruments. Clients under other regulated entities are subject to the leverage caps set by those regulators. Confirm the leverage limit applicable to your specific entity and instrument before trading. IC Markets' published maximum is up to 1:500 under certain conditions; the same entity-qualification applies.

Commission round-turn clarification: PU Prime's Prime account commission ($3.50 per side / $7.00 round turn) and ECN account commission ($1.50 per side / $3.00 round turn) are sourced from official account conditions pages. Whether IC Markets' published commission is per side or round turn must be confirmed directly at icmarkets.com — misclassifying this is a common error in broker comparisons and materially affects cost calculations.

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Trading Costs: What You Actually Pay Per Trade

All-in cost — spread plus commission — is the only meaningful cost comparison. A 0.0 pip raw spread with a $7.00 round-turn commission is not free trading.

Table T2 — Spread Model by Instrument (ECN-equivalent accounts)

Instrument	PU Prime Prime/ECN	IC Markets Raw	Spread Type	Source
EURUSD	0.0 pip raw + $7 RT (Prime) or $3 RT (ECN)	Raw from 0.0 pips + confirm commission RT	Variable	puprime.com/spread-and-costs/ / icmarkets.com
GBPUSD	Confirm at puprime.com/spread-and-costs/	Confirm at icmarkets.com	Variable	Official pages
XAUUSD	Confirm at puprime.com/spread-and-costs/	Confirm at icmarkets.com	Variable	Official pages
US500	Confirm at puprime.com/spread-and-costs/	Confirm at icmarkets.com	Variable	Official pages
BTCUSD	Confirm at puprime.com/spread-and-costs/	Confirm at icmarkets.com	Variable	Official pages

Spreads are variable and session-dependent. PU Prime's official spread page confirms 0.0 pip raw spreads are available on Prime and ECN accounts; the Standard account shows a variable spread with approximately 1.3 pips typical on EURUSD. For IC Markets, raw account spreads are documented as low on major pairs in third-party sources, but those figures require confirmation at icmarkets.com for current accuracy. Pull live spread data from each broker's platform during your primary trading session before making a cost-based decision.

Table T3 — Monthly Cost Scenarios (EURUSD, round-turn, commission-only basis)

These scenarios use PU Prime's Prime account as the reference point ($7.00 RT, 0.0 pip raw spread assumed). The IC Markets column requires confirmation of the current round-turn commission rate at icmarkets.com before it can be used as a live comparison.

Monthly Volume	PU Prime Prime ($7 RT, 0.0 raw)	PU Prime ECN ($3 RT, 0.0 raw)	IC Markets Raw (confirm RT commission)
10 lots/month	$70	$30	Confirm at icmarkets.com
100 lots/month	$700	$300	Confirm at icmarkets.com
500 lots/month	$3,500	$1,500	Confirm at icmarkets.com

The ECN account's lower commission ($3.00 RT) produces a meaningful cost advantage at volume, but requires a $10,000 minimum deposit. At 100 lots per month, the difference between the Prime and ECN accounts is $400/month — worth considering once you are trading at that frequency.

At high volumes, even a $1 per round-turn difference between brokers compounds to $500/month at 500 lots. Run the calculation on your own volume and instrument before choosing.

What to verify before using these figures:

• Confirm IC Markets' current commission per round turn for Raw Spread and cTrader Raw accounts, and whether the figure is per-side or round-trip
• Confirm whether PU Prime's published commission is all-inclusive or whether additional fees apply to specific instruments
• Verify current live spread figures in each broker's platform during your primary trading session

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Platforms and Trading Tools

Table T5 — Platform and Tool Support Matrix

Platform / Tool	PU Prime	IC Markets
MetaTrader 4 (MT4)	Confirmed — full EA and custom indicator support	Confirmed
MetaTrader 5 (MT5)	Confirmed — recommended as flagship platform	Confirmed
cTrader	Not confirmed available	Confirmed
WebTrader (MT Web)	Confirmed (MT4 and MT5 web versions)	Confirmed
Proprietary mobile app	Confirmed — PU Prime Trading App (iOS/Android)	Confirmed
TradingView integration	Not confirmed from official sources reviewed	Confirm at icmarkets.com
Autochartist	Not confirmed from official sources reviewed	Confirm at icmarkets.com
Free VPS	Not confirmed from official sources reviewed	Confirm at icmarkets.com
FIX API access	Not confirmed from official sources reviewed	Confirm at icmarkets.com — historically available for institutional clients

PU Prime's platform ecosystem: PU Prime officially supports MT4, MT5, and its proprietary trading app. MT4 and MT5 both support Expert Advisors (EAs) and custom indicators — the official platform pages confirm this explicitly. MT4 includes 30 built-in technical indicators and supports thousands of custom indicators. MT5 is positioned as the flagship platform, offering more timeframes, additional order types, and a more powerful strategy tester for multi-asset backtesting. The PU Prime app provides account management, funding, and live trading; verify full charting and execution features at puprime.com/trading-app/.

IC Markets' cTrader advantage: IC Markets' cTrader availability is a genuine differentiator for traders whose strategies are built on that platform's native order types and API. For algo traders with existing cTrader infrastructure, IC Markets is the practical choice; PU Prime does not offer cTrader based on available official sources.

EA and algorithmic trading: Both brokers support Expert Advisors on MT4 and MT5. IC Markets has a documented reputation for catering to algorithmic traders and has historically offered FIX API access for institutional clients. PU Prime's MT4 and MT5 explicitly support EAs, but a specific published policy on high-frequency or short-duration scalping strategies was not found in the official sources reviewed. Traders running aggressive HFT strategies should confirm PU Prime's terms with their support team before deploying live capital.

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Copy Trading and Passive Features

This is a genuine differentiator in favour of PU Prime.

PU Prime operates an integrated copy trading platform accessible through its trading app and client portal. The platform allows traders to follow signal providers and mirror trades automatically. Per the official account opening guide, copy trading is accessible with as little as $25 per signal provider. Third-party sources reference scale metrics such as 6 million+ trades copied and approximately 32,000 signal providers; these figures were not confirmed against a current, timestamped official PU Prime copy trading page and will change over time. They are directionally indicative of a substantial social trading infrastructure, not evidence of any strategy quality or future returns.

IC Markets does not offer a comparable integrated copy trading or social investing feature at the same scale based on available official sources.

Important: Copy trading scale figures — trades copied, signal provider counts — describe platform activity, not performance. Past copying activity says nothing about future returns. Any strategy mirrored through copy trading carries the same market risk as executing those trades yourself.

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Funding and Withdrawal: Practical Logistics

Table T6 — Payment Method Matrix

Method	PU Prime	IC Markets	Notes
Credit / Debit Card	Yes	Yes	Deposits typically instant; withdrawal timing varies — confirm with each broker
Bank Wire Transfer	Yes	Yes	Typically 1–3 business days
Skrill	Yes	Yes	Typically fast
Neteller	Yes	Yes	Typically fast
Crypto	Confirm with PU Prime	Confirm with IC Markets	Varies
Local / regional methods	Yes — multiple regional options	Confirm with IC Markets	Varies by method

On PU Prime withdrawal fees: Third-party sources have referenced a withdrawal fee of "up to 5%" for PU Prime. This figure has not been confirmed against PU Prime's official fee schedule or client agreement as of this article's review date and should not be treated as a current confirmed fact. This is a material cost consideration for larger withdrawal amounts. Verify the applicable fee schedule at puprime.com or directly with PU Prime's support team before initiating withdrawals.

Inactivity fees: Neither broker's current inactivity fee policy was confirmed from official sources for this review. If you plan to trade infrequently, check each broker's current terms pages directly before opening an account. Inactivity fees can accumulate on dormant accounts and represent a real cost for occasional traders.

What to verify before depositing:

• Confirm the current fee schedule for your intended withdrawal method at puprime.com or with PU Prime's support
• Confirm whether any minimum withdrawal amount or regional processing time applies to your location
• Confirm IC Markets' current withdrawal fee structure at icmarkets.com
• Check both brokers' inactivity fee policies if you trade infrequently

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Who Should Choose Which Broker

Five trader profiles mapped to a broker recommendation, with the single most important deciding factor per profile.

1. Beginner with under $500 to start → PU Prime, Cent or Standard account The Cent account's $20 minimum and Standard account's $50 minimum provide the lowest practical entry in this comparison. No commission on Standard keeps the cost structure straightforward. Copy trading accessible from $25 per signal provider allows passive learning while capital is small. IC Markets is an excellent broker, but its entry point and platform breadth are better suited to traders who already have a clear strategy. Deciding factor: Entry capital and learning curve.

Open a PU Prime Standard or Cent account

2. Cost-sensitive scalper, 100+ lots/month on EURUSD → IC Markets, Raw Spread account IC Markets' raw ECN model, cTrader availability, and documented algo-friendly execution infrastructure are purpose-built for this profile. At high monthly volumes, even a small per-lot commission difference compounds significantly — see the monthly cost table above. Confirm IC Markets' current round-turn commission and entity accessibility for your jurisdiction before opening. Deciding factor: All-in round-turn cost at scale and cTrader availability.

3. Swing trader, 50–200 lots/month across forex and commodities → PU Prime, Prime account (or IC Markets Raw — compare on your primary instruments) At this volume, PU Prime's Prime account ($7.00 RT, $1,000 minimum) is competitive and includes access to forex, commodities, indices, shares, and ETFs under one account structure. If the majority of your volume is EURUSD or major pairs and cTrader is important to you, IC Markets is a strong alternative. This profile sits in the overlap zone — run the numbers on your specific instrument mix using the cost table above. Deciding factor: Instrument breadth versus marginal cost advantage on your primary pair.

4. Algo / EA trader → IC Markets (primary) or PU Prime MT4/MT5 (secondary) Both brokers support MT4 and MT5 EAs. IC Markets has a longer documented history of serving algorithmic traders, including historical FIX API access and cTrader's open API. PU Prime confirms EA support on both platforms but does not publish an explicit HFT/scalping policy in the sources reviewed. If your strategy is cTrader-native or relies on FIX API, IC Markets is the more confirmed choice. If you run MT4/MT5 EAs without cTrader dependency, PU Prime is a viable alternative worth confirming with their support team. Deciding factor: cTrader or FIX API dependency.

5. Passive / copy trader → PU Prime PU Prime has a structured copy trading ecosystem accessible from $25 per signal provider. IC Markets does not offer a comparable feature. If copy trading is central to your approach rather than supplementary, PU Prime is the practical choice. Deciding factor: Copy trading infrastructure availability.

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Bonus and Promotion Terms

PU Prime periodically runs account opening and deposit promotions. Specific terms, turnover conditions, and any leverage implications associated with these promotions were not extracted from official sources for this review and will change over time. Before opening an account partly because of a promotional offer, read the full promotion terms on PU Prime's official promotions page — in particular, any minimum trading volume requirement, expiry date, withdrawal restriction, or leverage modification that applies while a bonus is active. Bonus and promotional conditions are jurisdiction-dependent and may not be available in all regions.

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What We Could Not Verify

Editorial transparency requires stating the information boundary explicitly. The following claims appear in secondary sources or were referenced in research but could not be confirmed against official primary sources as of this article's review date:

• IC Markets UK retail client accessibility: Multiple sources claim IC Markets no longer accepts UK retail clients. This has not been confirmed against the FCA register (register.fca.org.uk) or an official IC Markets statement. UK readers must verify directly at both sources.
• PU Prime withdrawal fee of "up to 5%": Appears in third-party comparison sources. Not confirmed against PU Prime's current official fee schedule. Do not rely on this figure without checking puprime.com directly.
• IC Markets commission structure (round-turn vs. per-side): Whether IC Markets' quoted commission is per side or round turn requires confirmation at icmarkets.com. This distinction changes cost calculations materially.
• PU Prime ASIC licence: Earlier third-party sources reference an ASIC licence. PU Prime's current official regulation page lists FSA Seychelles, FSC Mauritius, FSCA South Africa, and CMA UAE only. Australian clients must confirm their governing entity directly.
• PU Prime scalping / HFT explicit policy: No official document confirming PU Prime's specific stance on high-frequency scalping was available for review. Confirm with PU Prime's support before deploying aggressive short-duration strategies.
• IC Markets TradingView integration and Autochartist availability: Referenced in third-party sources; not confirmed via IC Markets' official platform pages in this review.
• Spread data for GBPUSD, XAUUSD, US500, BTCUSD: Instrument-level figures beyond EURUSD were not extracted from official sources with declared measurement conditions and date. Check puprime.com/spread-and-costs/ and icmarkets.com directly.
• Copy trading scale metrics (6M+ trades, 32K signal providers): Referenced in third-party sources citing PU Prime's platform. Not confirmed against a current, timestamped official PU Prime copy trading page.
• Islamic account terms for both brokers: Availability is indicated; official swap-free conditions and any fee-in-lieu structure were not extracted for either broker.
• Inactivity fee policies for both brokers: Not confirmed from official sources. Check each broker's current terms pages before opening an account if you trade infrequently.
• IC Markets minimum deposit figures: Third-party sources commonly cite $200; verify the current figure at icmarkets.com.

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Frequently Asked Questions

What is the minimum deposit for PU Prime? The Cent account starts at $20 and the Standard account starts at $50, per the official account opening page. The Prime account requires $1,000 and the ECN account requires $10,000.

What is the minimum deposit for IC Markets? Confirm the current figure at icmarkets.com. Third-party sources commonly cite $200, but this should be verified directly before opening an account.

Which broker is better for scalping? IC Markets has a documented ECN model, cTrader availability, and an established reputation among scalpers and algo traders. PU Prime supports scalping on MT4 and MT5 but has not published an explicit HFT policy in reviewed official sources. Cost-sensitive scalpers should confirm their specific strategy is supported by PU Prime before committing live capital.

Does PU Prime offer copy trading? Yes. PU Prime has an integrated copy trading platform accessible via its app and client portal. Entry is possible from $25 per signal provider per the official account opening guide.

Does IC Markets offer copy trading? IC Markets does not offer an integrated copy trading feature at a comparable scale to PU Prime based on available official sources. Traders for whom copy trading is a priority should consider PU Prime.

What leverage does PU Prime offer? PU Prime advertises up to 1:1000 leverage under certain entities. This maximum does not apply to all regulatory entities or all instruments. Confirm the leverage limit applicable to your specific entity and instrument at puprime.com/regulation/.

Is IC Markets accessible to UK clients? Third-party sources claim IC Markets no longer accepts UK retail clients, but this has not been confirmed against the FCA register or an official IC Markets statement as of publication. UK readers must verify directly at register.fca.org.uk and icmarkets.com.

How fast are PU Prime withdrawals processed? Card and e-wallet deposits are typically instant per the official account opening guide. Withdrawal processing times and any applicable fees — including the unconfirmed "up to 5%" figure referenced in third-party sources — should be confirmed with PU Prime's official documentation or support team before withdrawing.

Do both brokers support Expert Advisors (EAs)? Yes. PU Prime explicitly confirms EA support on MT4 and MT5. IC Markets also supports EAs across its MetaTrader platforms. For cTrader-native strategies or FIX API dependency, IC Markets is the confirmed option.

What instruments can I trade at PU Prime? PU Prime offers CFDs across forex, indices (including S&P 500 and Nikkei 225), commodities (including crude oil, copper, and sugar), metals (including gold and silver), shares (including major companies such as Tesla and Amazon), ETFs, bonds, and synthetic indices. Extended-hours gold trading (XAUUSD247) is also available. Confirm the full instrument list and applicable trading conditions at puprime.com/spread-and-costs/.

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Verdict and Next Step

For IC Markets: IC Markets is the stronger choice for the cost-first, execution-quality trader. Its raw ECN model, cTrader platform, documented algo-friendly infrastructure, and multi-regulator structure (ASIC, CySEC) make it technically well-suited to scalpers and professional-grade traders running high volume on major forex pairs, provided their jurisdiction is compatible with IC Markets' current entity availability. The key first step is confirming which entity covers your region.

For PU Prime: PU Prime is the stronger fit for traders at the beginning to intermediate stages of development, traders for whom copy trading is a meaningful feature, and those in regions where PU Prime's FSCA, CMA, or FSC entities provide the relevant coverage. The account ladder — from a $20 Cent account through to the $10,000 ECN account — allows gradual progression within one broker relationship. The regulated entity structure across South Africa, UAE, Mauritius, and Seychelles gives traders in those regions a clearly mapped option.

The cost analysis is directionally clear: IC Markets' raw spreads are competitive at high volume, but the number that matters is all-in round-turn cost at your actual volume on your primary instruments. Run that calculation against both brokers' current official figures before deciding.

Open a PU Prime account | Compare PU Prime account types

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Risk warning: CFDs and leveraged forex products are complex instruments and carry a high risk of losing money rapidly due to leverage. Consider whether you understand how these products work and whether you can afford to take the high risk of losing your capital. Check the entity, terms and protections that apply in your jurisdiction before trading.