PU Prime vs IC Markets

IC Markets is the better broker for most active forex and CFD traders. It offers easier access to raw pricing, more trading platforms, a larger overall instrument range and particularly strong support for scalpers, algorithmic traders and traders who use cTrader or TradingView.

PU Prime is still a serious alternative. Its main advantages are its Cent account, a wider choice of account structures and a high-volume ECN account with a published commission of just $1 per side per lot. For traders prepared to deposit $10,000, that ECN pricing can be more attractive than IC Markets' standard Raw Spread commission.

The key point is that there is no single winner on every metric. IC Markets wins the overall comparison, while PU Prime becomes more compelling for specific account requirements.

Trading conditions and regulatory protections vary by legal entity, country, platform and financial instrument.

PU Prime vs IC Markets at a glance

PU Prime currently lists Standard, Prime, ECN and Cent accounts. Its Standard account starts from $50, Prime from $1,000, ECN from $10,000 and Cent from $20. PU Prime lists spreads from 1.3 pips on Standard and Cent accounts and from 0.0 pips on Prime and ECN accounts.

IC's current global account page lists a $0 minimum deposit for its regular Raw Spread, cTrader Raw Spread and Standard accounts. The MetaTrader Raw Spread account starts from 0.0 pips with a $3.50 commission per side per lot, while the Standard account starts from 0.8 pips without commission.

Which has lower trading costs: PU Prime or IC Markets?

The normal IC MetaTrader Raw Spread account and PU Prime Prime account have almost identical commission structures. Both publish spreads from 0.0 pips and a $3.50 commission per side per standard lot, equivalent to $7 round turn. The major difference is the capital requirement: PU Prime requires $1,000 for the Prime account, while IC's current global account page lists no formal minimum deposit for its regular Raw Spread account.

PU Prime states that the average EUR/USD spread on its Prime account is 0.0 pips and charges $7 per standard lot round turn. IC states that its Raw Spread account averages approximately 0.1 pips on EUR/USD, also with a $7 MetaTrader round-turn commission.

That produces an interesting result if the brokers' published averages are taken at face value.

For one standard lot of EUR/USD, where one pip is approximately $10:

• PU Prime Prime: 0.0 pip published average spread + $7 commission = roughly $7 published round-turn trading cost
• IC MetaTrader Raw Spread: 0.1 pip published average spread + $7 commission = roughly $8 published round-turn trading cost

This is an illustrative calculation, not a guaranteed live cost. Spreads vary, and actual trading cost also depends on slippage, swaps, execution price and the time of day.

So PU Prime can actually look marginally cheaper on published EUR/USD pricing. IC Markets wins the accessibility argument, not necessarily every single cost comparison.

PU Prime ECN is more interesting for larger accounts

PU Prime's ECN account changes the calculation. It requires a $10,000 minimum deposit but publishes spreads from 0.0 pips and a commission of just $1 per side per lot, or $2 round turn.

For sufficiently active traders, the difference between a $2 and $7 round-turn commission becomes material.

At 100 standard lots per month, ignoring spreads and other costs:

• $7 round-turn commission = $700
• $2 round-turn commission = $200
• Difference = $500 per month

At 500 lots, the commission difference becomes $2,500.

That does not automatically make PU Prime ECN superior because execution and realised spreads still matter, but it gives high-volume traders a legitimate reason to test the account rather than choosing IC Markets automatically.

Which has better trading platforms?

IC supports MetaTrader 4, MetaTrader 5, cTrader and TradingView. Its cTrader ecosystem also includes cTrader Algo and cTrader Copy. TradingView accounts are connected through the broker's cTrader infrastructure.

PU Prime supports MetaTrader 4, MetaTrader 5, PU Web Trader and its proprietary PU Prime App.

That makes the choice straightforward.

Choose IC Markets if you specifically want:

• cTrader
• TradingView-connected execution
• cTrader Algo
• a wider selection of third-party trading environments
• MetaTrader for Expert Advisors alongside alternative platforms

Choose PU Prime if you are already comfortable with MT4 or MT5 and value having the broker's own mobile and web interfaces.

For algorithmic traders, scalpers and platform-heavy technical traders, IC Markets has the stronger stack.

Which broker is better for scalping and Expert Advisors?

The reason is not simply that IC advertises 0.0-pip spreads. PU Prime does too. The advantage is the combination of raw pricing, low entry requirements, MetaTrader, cTrader, TradingView and infrastructure explicitly designed around high-frequency and automated trading.

IC describes its MetaTrader Raw Spread account as suitable for EAs and scalpers and states that its MetaTrader servers are located in the Equinix NY4 data centre in New York. IC also says the account aggregates pricing from up to 25 institutional-grade sources.

PU Prime supports Expert Advisors across its main account types, so it is entirely viable for automated strategies.

There is not enough directly comparable independent execution data to claim that one broker will always produce better fills. A strategy sensitive to a few tenths of a pip should be judged on realised spread, slippage and fill quality during the hours that strategy actually trades, not a broker's minimum-spread headline.

Which broker offers more account choice?

PU Prime offers four main account types:

• Cent: $20 minimum, cent-denominated balance and no commission
• Standard: $50 minimum, spreads from 1.3 pips and no forex commission
• Prime: $1,000 minimum, spreads from 0.0 pips and $3.50 commission per side per lot
• ECN: $10,000 minimum, spreads from 0.0 pips and $1 commission per side per lot

The Cent account is particularly distinctive. A cent-denominated account lets a trader operate with much smaller nominal monetary exposure while still using familiar MetaTrader position sizing.

IC's mainstream choice is simpler: Standard or Raw Spread, with a separate cTrader Raw Spread structure. Its current global account page also shows newer Raw Pro and Raw Pro+ tiers, although those are presented as newer or early-access account offerings and should be checked for availability before funding an account.

PU Prime therefore wins for account segmentation, while IC wins for getting into competitive raw pricing without a large funding threshold.

Which offers more markets to trade?

IC's global site advertises more than 2,850 tradable instruments covering forex CFDs, commodities, stocks, indices, bonds, cryptocurrency CFDs and futures CFDs.

PU Prime's account comparison currently lists more than 1,000 instruments, with markets including forex, metals, indices, commodities, shares, ETFs, bonds and synthetic indices. PU Prime has also expanded its stock and ETF CFD range during 2026.

Raw instrument count should not decide the comparison by itself.

A trader who only trades EUR/USD and XAU/USD gains nothing from having another 1,500 stock CFDs available. On the other hand, the larger IC catalogue matters to multi-asset traders, while PU Prime may be preferable if a specific product such as one of its synthetic indices is the reason for opening the account.

PU Prime vs IC Markets regulation and safety

PU Prime currently lists regulated entities overseen by:

• Australian Securities and Investments Commission, ASIC
• Financial Services Authority of Seychelles, FSA
• Financial Services Commission of Mauritius, FSC
• Financial Sector Conduct Authority of South Africa, FSCA
• Capital Market Authority of the UAE, CMA

PU Prime officially launched its Australian operation through PU Prime Trading Pty Ltd in September 2026. The Australian entity holds AFSL 410681 and is the CFD product issuer for Australian clients onboarded through the Australian business.

IC also operates through different legal entities. International Capital Markets Pty Ltd is regulated by ASIC in Australia under AFSL 335692. IC Markets (EU) Ltd is authorised by the Cyprus Securities and Exchange Commission under licence 362/18. IC's global entity, Raw Trading Ltd, operates under the Seychelles FSA with securities dealer licence SD018.

This distinction matters because leverage limits, investor protections, complaints procedures and available products can change depending on the entity.

For an eligible European Economic Area trader, IC Markets EU's CySEC-regulated structure is a meaningful advantage because PU Prime's current regulation page does not list a CySEC-authorised investment firm among its regulatory licences.

For an Australian client, both groups now have ASIC-regulated operations.

For a client opening through an offshore entity, comparing the offshore legal entities directly is more useful than saying one entire global brand is simply "safer."

Regulation reduces some forms of counterparty and conduct risk. It does not make leveraged CFD trading risk-free.

What about leverage?

PU Prime's international accounts offer adjustable account leverage from 1:100 up to 1:1000, with 1:500 listed as the default for several account types. Product-specific limits apply, and PU Prime can dynamically reduce leverage around certain volatile market periods.

IC's current global account comparison lists leverage as high as 1:5000 on some MetaTrader account types and up to 1:1000 for its cTrader account. IC also states that leverage is dynamic and can change.

Those maximums do not apply universally. ASIC, CySEC and other regulated entities can impose substantially different retail leverage limits.

For most traders, leverage should be treated as a risk-management parameter rather than a reason to choose a broker.

PU Prime copy trading vs IC Markets copy trading

PU Copy Trading is integrated into the PU Prime mobile app. Users can act as signal providers or copiers and can control copied position sizing through fixed lots, fixed multiples or margin-based modes.

IC offers its own IC Social ecosystem while also supporting cTrader Copy and other trading integrations through its broader platform stack.

PU Prime makes sense if the priority is an integrated mobile copy-trading workflow. IC makes more sense if platform choice and third-party ecosystem depth matter more.

Who should choose PU Prime?

PU Prime is particularly attractive if:

• You specifically want a Cent trading account
• You prefer PU Prime's proprietary app or copy-trading interface
• You can fund the $10,000 ECN account and trading commission is a major cost driver
• You want access to PU Prime-specific products such as synthetic indices
• The PU Prime entity available in your jurisdiction provides the regulatory setup you require

The strongest PU Prime case is not "it is better for everyone." It is that PU Prime gives traders more ways to optimise the account structure around their capital and trading style.

Who should choose IC Markets?

IC Markets is the better fit if:

• You scalp forex or trade intraday
• You use Expert Advisors or automated strategies
• You want raw spreads without a $1,000 account requirement
• You want cTrader
• You want TradingView-connected trading
• You trade across a large number of instruments
• You are eligible for IC Markets EU and specifically want a CySEC-regulated account
• You want a simpler Standard-versus-Raw account decision

For the typical experienced trader comparing these two brokers, those advantages are more consequential than PU Prime's larger number of account types.

Is PU Prime better than IC Markets?

PU Prime wins specific use cases. Its Cent account is useful for smaller-scale trading, and its $10,000 ECN account offers an unusually low published $1-per-side commission.

If those features solve your particular problem, PU Prime can be the better account. Otherwise, IC Markets is the more convincing default.

Does IC Markets still exist, or is it now called IC?

The global IC Markets brand transitioned toward the shorter "IC" branding and moved its main global website from icmarkets.com to ic.com in July 2026. The company stated that the products, accounts and services continued through the transition.

The IC Markets name has not disappeared everywhere. For example, the CySEC-regulated European company continues to operate as IC Markets (EU) Ltd.

This is why current searches can contain both "IC", "IC Markets" and "IC Markets Global" references to related entities within the same wider brand.

Final verdict: PU Prime or IC Markets?

IC Markets wins the PU Prime vs IC Markets comparison for most traders.

Its biggest advantage is not one spectacular feature. It is the combination of raw pricing, low barriers to accessing that pricing, MetaTrader, cTrader, TradingView, automation support and a larger overall market range.

Pick IC Markets for active trading, scalping, EAs and platform flexibility.

Pick PU Prime if you specifically want a Cent account or can justify its $10,000 ECN account, where the published $1-per-side commission can materially reduce costs at high trading volumes.

Before funding either broker, verify the legal entity your account will be opened with and compare the live specification for the instruments you actually trade. For execution-sensitive strategies, the useful comparison is not "0.0 pips versus 0.0 pips." It is the total realised cost after spread, commission, slippage and financing.