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Broker Comparison

IC Markets vs TMGM

Side-by-side comparison of IC Markets and TMGM on every dimension professional traders care about — from fees and leverage to regulators, scalping rules, and EA support. Updated May 2026.

Reviewed & ranked byTradingEdge IC License — Investment Consultant (Thai SEC) Strategic Partner of Top-Tier Brokers
Published April 1, 2026·Last updated May 3, 2026·See our review methodology
winner
IC
IC Markets
4.7 · Sydney, Australia

IC Markets is the world’s top ECN broker with 24+ Tier-1 liquidity providers. Founded in 2007 in Sydney, ECN execution makes it the favourite of every algo trader and high-volume scalper.

$8.5/lotSpread 0p1:500
TM
TMGM
4.0 · Sydney, Australia

TMGM (TradeMax Global Markets) is an Australian broker founded in 2013 in Sydney, focused on multi-asset trading: Forex, Stocks, Crypto, Indices. Famous for ECN execution and 12,000+ stock CFDs.

$9.4/lotSpread 0p1:500
Verdict

IC Markets wins 5/13 categories — the better all-round choice.

IC Markets: 5 · TMGM: 2 · tied: 6
FieldIC MarketsTMGM
Rebate per lot$8.50 / lot$9.40 / lot
Spread from0 pips0 pips
Execution speed35 ms45 ms
Max leverage1:5001:500
Min deposit$200$100
User rating4.7 / 5 (3,987)4.0 / 5 (1,245)
Trust score9.12 / 108.05 / 10
Execution typeECN / DMA AggregationECN / DMA
Liquidity providers25+17+
RegulatorsASIC (AU) #335692 · CySEC (CY) #362/18 · FSA (SC) #SD018ASIC (AU) #436416 · FMA (NZ) #FSP345553 · VFSC (VU) #40356
PlatformsMT4 · MT5 · cTrader · TradingView (Beta) · IC MobileMT4 · MT5 · IRESS · TMGM Mobile
Payout frequencyรายวันทุก 2 วัน
Withdrawal time1 - 24 ชม.1-4 ชม.
Swap-free / Islamic
Scalping allowed
EA / algo allowed
Negative balance protection
Strengths of IC Markets
  • Ultra-low spread (Raw 0.0 pips)
  • Sub-40ms execution — best for scalping
  • ASIC + CySEC + FSA regulation
  • cTrader + MT4 + MT5 all supported
  • Commission $7/lot for the Raw account
  • No Islamic account by default
Strengths of TMGM
  • 12,000+ stock CFDs — biggest selection
  • ECN execution under 35ms
  • ASIC + FMA regulation
  • IRESS Pro included
  • No deposit bonus
  • Spread wider than IC Markets / Pepperstone

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