IC Markets and FP Markets are Forex and CFD brokers that offer online trading services to traders and investors worldwide. Both brokers are regulated by top-tier regulatory authorities. IC Markets is regulated by two Tier-1, and one Tier-4 jurisdictions, including ASIC, CySEC, and FSA. On the other hand, the FP Markets is regulated by two Tier-1 jurisdictions, one Tier-2 jurisdiction, and one Tier-4 jurisdiction including ASIC, CySEC, SVGFSA, and FSCA. These two brokers offer almost similar services. However, each broker has its strengths and weaknesses.
In this article, we will compare and contrast IC Markets with FP Markets regarding trading platforms, regulations, tradable assets, fees, customer support, and overall trading experience score. We will also explore if IC Markets is better than FP Markets and vice versa. This comparison lets you understand which broker is better for your trading style and preferences
IC Markets vs FP Markets: In a Nutshell
IC Markets
Founded in 2007 by Andrew Budzinksi, IC Markets is an Australian-based forex and CFD broker offering trading services to institutional and retail traders worldwide. The broker offers 2250+ trading instruments including Forex, commodities, indices, bonds, stocks, futures, and cryptocurrencies. Over the years, the broker has improved in quality and services. It offers true ECN trading with low spreads, high leverage, and fast executions to a global clientele. IC Markets is a multi-asset trading platform of choice for high-volume traders, scalpers, and robots. To learn more, you can read our review on IC Markets where we have covered its features, pros, cons, ratings, and more.
ICMarkets Overview
- Founded In: 2007
- Founder: Andrew Budzinksi
- Headquarters: Australia
- Minimum Deposit: $200
- Maximum Leverage: Upto 1000:1 for FSA Jurisdiction, 30:1 for ASIC, CySEC clients.
- Regulations: ASIC, CySEC, and FSA
- Trading platform: MT4, MT5 and cTrader
- Trading Instruments: 2150+ Trading Instruments including Forex, Crypto, Stock, Commodity Indices, Bonds, Futures.
- Account Types: Standard, Standard, Raw (Metatrader, Ctrader)
- Fees: Spread starting from 0.8 Pips(Standard Accounts) or $3 to 3.5 Commission (Raw Accounts)
- Payment Options: bank/wire transfer, Paypal, credit card, Skrill, Neteller, UnionPay, Bpay, FasaPay and Poli.
- US Traders: Not Accepted
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.
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
IC Markets vs FP Markets: Features
IC Markets:
- Regulations: ASIC, CySEC, and FSA
- Trading Instruments: 2150+ including Forex, commodities, indices, bonds, stocks, futures, cryptocurrencies
- Minimum Deposit: $200 or Equivalent
- Maximum leverage: up to 1000:1 in FSA jurisdiction, in some countries, it offers 500:1 leverage, for ASIC, and CySEC entity the brokers offers up to 1:30 leverage.
- Account types: Standard Account and Raw Account (Metater, Ctrader)
- Fees: Spread starting from 0.8 pips for Standard Account or 3.00 to 3.50 per lot for Raw Account on a single Trip.
- PAMM/ MAM: Not Available
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
FP Markets
- Trading Instruments: 10000+ trading instruments including Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs,Â
- Maximum leverage:Â up to 1:500Â
- Â Minimum Deposit: 100 AUS or equivalent.Â
- Account Types:Â Offers 2 account types: Standard, Raw
- Fees:Â starting from 1.0 pips for a standard account, $3.5 commission on Raw account per side
- PAMM/ MAM:Â Yes,Â
- Zulutrade:Â YesÂ
- Scalping:Â AllowedÂ
- News Trading: Allowed
- EA/ Robot Trading: Allowed
IC Markets vs FP Markets: Pros and Cons
IC Markets
- Fully Regulated broker, ( One tire-1 , jurisdiction, one tire-2 jurisdiction)
- Super fast trade execution speed
- Straightforward registration process
- Low spread, starting from 0 pips.
- Easy and Fast Account Opening
- Free deposit and withdrawal
- Offers standard and raw spread account
- Trading EA is Allowed
- Ability to trade from a mobile device
- A demo Account is available
- Higher minimum deposit
- No investor protection for non-EU Clients
- Limited Product Selection
- No weekend Trading
- US Traders are not accepted
FP Markets
- 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
- 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)
IC Markets vs FP Markets: Side-by-Side Comparison
IC Markets Vs FP Markets: Our Scores and Ratings
We rated both brokers, IC Markets and FP Markets, 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.
IC Markets :
FP Markets:
Final Verdict :
IC Markets and FP Markets are regulated forex and CFD brokers in the industry. They offer similar trading services including forex and CFD trading. They both allow scalping, hedging, EA trading and Copy trading. Neither of these brokers accept US Clients. The minimum order size for both of them is 0.01.
However, there are a few areas where you may find some differences. For example, the minimum deposit for IC Markets is $200, whereas the minimum deposit for FP Markets is $100 AUD or equivalent. Additionally, the maximum leverage for the IC Market is generally 500:1 (in some countries IC Markets offers 1000:1 leverage). On the other hand, the maximum leverage for FP Markets is 500:1. IC Market offers passive investment programs or copy trading programs like MAM, and Zulutrade. In contrast, FP Markets also offer passive investment programs like MAM and PAMM.
Our score for IC Markets is 9.3, and for FP Markets, it is 9.2. So, if you are looking for trusted forex brokers with tight spreads and MAM account services, you may choose IC Markets. However, If you prefer a forex broker with a lower minimum deposit and similar trading services, you may select FP Markets.
