FP Markets vs IG.com Compared 2024

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Written by
Ryan Hardy sitting before his forex trading desk
Fact Checked by
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FP Markets and IG are online forex brokers that offer their trading services to traders and investors. FP Markets is a regulated and trusted forex broker. It is regulated by multiple regulatory authorities including ASIC, CySEC,  FSA, FSCA, SVG. Similarly, IG is also a regulated broker which is regulated by ASIC, FCA, JFSA, SFC (Hongkong), FSCA, MAS, FMA, GmbH, FINMA. Both the brokers have their own strengths and weaknesses.  

In this article, we will review and compare the brokerage services offered by FP Markets and IG. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.

FP Markets vs IG.com: In a Nutshell

FP Markets

Established in 2005, FP Markets is an Australian-based forex and CFD broker that offers online trading services worldwide. It is a global brand regulated by multiple authorities, including ASIC, CySEC, SVG, FSA, and FSCA. The broker provides traders access to more than 10,000 trading instruments on its four platforms: MT4, MT5, IREAA, and cTrader. It also provides access to tools like Autochartist, Trading Central, free VPS, social trading, and more. FP Markets is a low-cost forex broker with spreads as low as 0.0 pips. To learn more, you can read our review about FP Markets.

FP Markets Overview

FP Markets Overview
  • Founded In: 2005
  • Founder: Matthew Murphy
  • Headquarters: Sydney, Australia
  • Minimum Deposit: 100 AUD or equivalent.
  • Maximum Leverage: 500:1
  • Regulations: ASIC, CySEC, FSCA, FSA
  • Trading platform: MT4, MT5 and Ctrader 
  • Account Types: Islamic, Account Funding, Fund withdraw
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, Dragonpay, FasaPay, Klarna, Neteller, Ngan Luong, PayPal, PayTrust88, PerfectMoney, Poli, Rapid Transfer, Skrill, SticPay, Transfer from Existing Broker, UnionPay
  • US Clients: Not Accepted

IG.com

Founded in 1974 as IG Index by British Financier Stuart Wheeler, IG is a well-known forex and CFD broker. It offers over 100 forex currency pairs, CFDs, commodities, stocks, indexes, gold, silver, oil, bitcoin, and other cryptocurrencies for your personal investment and trading options

IG Markets Overview

IG Markets Overview
  • Founded In: 1974
  • Minimum Deposit: $250
  • Maximum Leverage: 200:1
  • Regulations: ASIC, FCA, FSA, NFA , AMF, FMA, MAS, DFSA
  • Trading platform: MT4, WebTrader, MobileTrader (MobileApp), ProRealTime
  • Account Types: Standard account, DMA Account
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, PayPal
  • US Traders:  Accepted 

FP Markets vs : IG Features

FP Markets:

  • Trading Instruments: 10000+ trading instruments including  Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, 
  • Maximum leverage: up to 1:500 
  •  Minimum Deposit: 100 AUS or equivalent. 
  • Account Types: Offers 2 account types: Standard, Raw
  • Fees: starting from 1.0 pips for a standard account, $3.5 commission on Raw account per side
  • PAMM/ MAM:  Yes, 
  • Zulutrade: Yes 
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

IG

  • Trading Instruments: 17,000+ trading instruments including forex, indices, cryptocurrencies, shares, commodities, bonds, options, etc
  • Maximum leverage: 30:1 to 200:1 ( dependent on Jurisdiction and Tradable assets) 
  • Minimum Deposit: No Minimum Deposit. However, the Minimum requires $250 if traders use credit/debit cards or PayPal 
  • Account Types:  Ig Offers couple of account types including Standard Accounts, Limited Risk Accounts, Spread Betting Accounts, Options Trading Accounts, Turbo24 Accounts, Share Dealing Accounts, Professional Accounts, etc
  • PAMM/ MAM:  Available 
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

FP Markets vs IG: Pros and Cons

FP Markets

Pros
  • Regulated by ASIC, CySEC, FSCA, SVGFSA, AFS, FSP 
  • The Maximum leverage is 1:500
  • Offers popular trading platforms like MT4, MT5, cTrader, WebTrader, IRESS
  • Hedging, Scalping, EA/Robot, and Copy trading are allowed 
  • Easy, Fast and Digital account opening
  • Offers passive investment programs like MAM, PAMM Accounts
  • Faster order execution (40ms) 
  • FP Markets offers consistently tighter spreads from 0.0 pips
Cons
  • No FCA regulation. 
  • The Minimum deposit is $100, which might be high for a beginner
  • High Stock CFD fees 
  • US traders are not accepted 
  • Only two types of accounts ( Standard, Raw) 

IG.com

Pros
  • Regulated by multiple top tire regulators like  NFA,  FCA, ASIC, FSA, AMF, FMA, MAS, DFSA 
  • Allows scalping, EA/ Robot Trading, News Trading
  • Offers web trading, mobile trading and ECN Trading 
  • IG's acquisition of tastytrade for $1 billion brought options trading and listed-derivatives (such as futures) trading to clients in the United States
  • 16,000 trading instruments, investments in IPOs and exchange-traded funds;
  • Quality choice of trading platforms, including MT4, WebTrader, MobileTrader (MobileApp), ProRealTime
  • Relatively good spreads, from 0.6-1 pips depending on the type of instrument;
  •  Offers passive investment programme ( MAM, PAMM accounts)
Cons
  • Relatively high Minimum deposit ( Min Deposit $250) 
  • Conservative leverage in some areas  ( The max leverage is 1:200)
  • IG charges $/£12/€14 per month after 24 months of inactivity 
  • Limited product range on MT4
  • High Stock CFD fees 

FP Markets vs IG.com: Side-by-Side Comparison

FP Markets
IG.com
Product
Product
FP Markets
IG.com
Founded In
Founded In
2005
1974
Founded By
Founded By
Matthew Murphie
Stuart Wheeler
Headquarters
Headquarters
Sydney , Australia
London, UK
Regulations
Regulations
ASIC, CySEC, FSCA, FSA
ASIC, FCA, JFSA, SFC (Hongkong), FSCA, MAS, FMA, GmbH, FINMA
Min Deposit
Min Deposit
$ 100 AUD or equivalent
None
Max Leverage
Max Leverage
500:1
1:200
Tradable Assets
Tradable Assets
Forex,Shares,Metals,Commodities,Indice,Digital Currencies,Bonds,ETFs
Forex, indices, Cryptocurrencies, Shares, Commodities
Fees
Fees
Spread starting from 1 pips or commission $3
Spread starting from 0.1 pips
Platforms and Tools
Platforms and Tools
MT4, MT5, cTrader, WebTrader, TradingView
MT4, WebTrader, MobileTrader (MobileApp), ProRealTime
US Traders
US Traders
Not Allowed
Allowed

FP Markets Vs IG.com: Our Scores and Ratings

We rated both brokers, FP Markets and IG.com, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

FP Markets :

9.2
Total Score
Regulation and Security (40%)9.2
Fees and Commissions (20%)9
Trading (15%)9
Trading tools (10%)9.5
Customer Support (10%)9.5
Trading Education (5%)9.6

IG.com

9
Total Score
Regulation and Security (40%)10
Fees and Commissions (20%)9
Trading (15%)8
Trading tools (10%)8
Customer Support (10%)8
Trading Education (5%)8

Final Verdict :

Both FP Markets and IG.com offer similar trading services globally and are regulated forex brokers. The minimum lot size for both is as low as 0.1. However, there are some differences between them.

For example, FP Markets is regulated by 5 regulatory authorities, including ASIC, CySEC,  FSA, FSCA, SVG, while IG.com is regulated by 9 regulatory authorities, including ASIC, FCA, JFSA, SFC (Hongkong), FSCA, MAS, FMA, GmbH, FINMA. The trading cost for FP Markets is 1 pips Standard , 0.0 pips RAW or commission $3, whereas IG.com’s trading cost is 0.6 points on key FX pairs, 0.8 points on major indices, and 0.1 points on commodities.

FP Markets cannot accept US clients as it is not regulated in the USA, while IG.com, being a US-regulated forex broker, can accept clients from both the US and around the world.

Our score for IG.com is 9, and for FP Markets, it is 8.6 (according to our expert ratings, brokers that achieve a score of 8.00 or higher are considered safe and trustworthy).

Therefore, FP Markets is most suited and trusted for non-US traders. However,  if you are a US trader seeking a trusted and regulated forex broker, IG.com is a perfect choice.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

Fact Checked by
Ryan Hardy is a Content Writer, Researcher, and Fact Checker at Brokersway. Specializing in forex trading, he focuses on ensuring accuracy in information related to broker regulations, scams, and safety measures. With a commitment to transparency, Ryan plays a vital role in providing traders with reliable insights into the world  of forex brokers
Edited by

Richard Walz, a seasoned content writer and broker’s research specialist, is your go-to authority for decoding online forex brokers and trading platforms. As an editor, he ensures precision and clarity, offering traders valuable insights on Brokersway, a trusted resource for informed decision-making in the dynamic world of currency trading. Richard's role as an editor ensures that the information presented is not only accurate but also presented in a manner that resonates with traders seeking clarity in making better decision.

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