Written by ForexBrokers.com
In this head to head comparison of FP Markets vs IC Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FP Markets (founded 2005) and IC Markets (founded 2007) are online brokers that are private companies—neither is publicly traded—and neither is a bank. Both hold two Tier-1 licenses, the highest trust category per ForexBrokers.com. FP Markets also holds one Tier-2 license, while IC Markets holds none at the Tier-2 level.
ForexBrokers.com rates FP Markets with a Trust Score of 90 (highly trusted) and IC Markets at 83 (trusted). The scale defines 90–99 as highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and below 59 not trusted. Based on these ratings and licenses, FP Markets edges ahead on overall regulatory standing.
| Feature |
FP Markets
|
IC Markets
|
|---|---|---|
| Year Founded | 2005 | 2007 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 3 |
FP Markets and IC Markets are both strong choices for low trading costs, but IC Markets has a slight edge overall for commissions and fees. FP Markets offers very competitive pricing on its MetaTrader and cTrader accounts, especially its Raw ECN option, which keeps trading costs low with tight spreads and commission-based pricing. Its Standard account is simpler but usually more expensive because of wider spreads. FP Markets is rated 4.5/5 stars and ranks #11 out of 36 brokers for commissions and fees.
IC Markets is even more competitive for cost-conscious traders, with low spreads and commission-based accounts that are among the cheapest in the forex market. It offers a commission-free Standard account as well as Raw Spread accounts on MetaTrader and cTrader, with the cTrader version carrying slightly lower commission costs. For active traders, IC Markets also offers volume-based discounts. IC Markets is rated 5/5 stars and ranks #5 out of 36 brokers for commissions and fees.
In simple terms, FP Markets is a low-cost broker with excellent pricing, especially for traders who want a commission-based setup, while IC Markets is the better pick if your main goal is to keep trading fees as low as possible. Both brokers are highly competitive, but IC Markets comes out ahead on overall value in the commissions and fees category.
| Feature |
FP Markets
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $100 AUD | $200 |
| Average spread (EUR/USD) - Standard account | 1.3 | 0.62 |
| All-in Cost EUR/USD - Active | 0.9 | 0.62 |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FP Markets and IC Markets both give traders access to forex as CFDs, copy trading, and cryptocurrency CFDs, but neither broker lets clients buy real, delivered crypto or exchange traded shares on U.S. or international stock exchanges. For everyday traders, that means both platforms focus more on trading markets through CFDs than on owning the underlying assets directly.
When it comes to range of investments, FP Markets has the edge. It offers 10,000 tradeable symbols and 71 forex pairs, compared with IC Markets’ 7,435 symbols and 61 forex pairs. Both brokers are rated 4.5 out of 5 stars for range of investments, but FP Markets is ranked higher by ForexBrokers.com at #17 out of 36, while IC Markets sits at #22.
| Feature |
FP Markets
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IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 7435 |
| Forex Pairs (Total) | 71 | 61 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
FP Markets and IC Markets both give traders a wide choice of platform options, including free demo accounts, web-based trading, Windows desktop downloads, MetaTrader 4, MetaTrader 5, copy trading, and the ability to place trades directly from charts. This means either broker will suit traders who want familiar tools and flexible access across devices.
The main difference is that FP Markets also offers a proprietary platform built in-house, while IC Markets does not. Even so, both brokers are rated 4 out of 5 stars for trading platforms and tools, although IC Markets places higher in ForexBrokers.com’s ranking at #17 out of 36 brokers, compared with FP Markets at #22. In simple terms, both are strong choices, but IC Markets has a slight edge in third-party rankings, while FP Markets stands out for having its own platform.
| Feature |
FP Markets
|
IC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 30 | 32 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FP Markets and IC Markets both give traders a strong mobile trading setup, with iPhone and Android apps available on each platform. Both also include price alerts, trendline drawing, and auto-saving for chart drawings, which makes it easier to track markets and manage trades on the go. In addition, neither broker offers watchlist symbol syncing between the mobile app and online account, so watchlists do not carry over automatically.
When it comes to charting, IC Markets has an edge in its mobile app by offering 30 technical studies, while FP Markets uses the default MetaTrader chart tools. Even so, both brokers are rated 4 out of 5 stars for mobile trading apps. In ForexBrokers.com’s ranking out of 36 brokers, FP Markets places slightly higher at #20, compared with IC Markets at #22.
| Feature |
FP Markets
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IC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
FP Markets and IC Markets both give traders a well-rounded set of market research tools. Each broker offers daily market commentary, news from top sources such as Bloomberg, Reuters, and Dow Jones, a sentiment tool for checking long and short positioning, and an economic calendar for tracking upcoming global events. Both also provide Trading Central, and each earns a 4-star Research rating from ForexBrokers.com, showing that their research offerings are strong for most everyday traders.
The main differences come down to a few extra tools. FP Markets includes Autochartist, while IC Markets does not. IC Markets, however, offers TipRanks research, which FP Markets does not. In ForexBrokers.com’s Research ranking, IC Markets places slightly higher at #21 out of 36 brokers, compared with FP Markets at #22, so IC Markets has a narrow edge overall, even though both brokers are closely matched for market research.
| Feature |
FP Markets
|
IC Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | Yes |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners looking for trading education, both FP Markets and IC Markets offer a solid range of learning materials. Each broker provides forex and CFD education, holds online educational webinars at least once a month, and has at least 10 beginner videos as well as 10 advanced videos. In plain terms, both platforms give new traders plenty of chances to learn the basics and keep building their skills over time.
When comparing them side by side, IC Markets has the edge in overall education recognition. Both brokers are rated 4 out of 5 stars for Education, but IC Markets is ranked higher by ForexBrokers.com, coming in at #16 out of 36 brokers, compared with FP Markets at #22. So while both are good options for beginner-friendly learning, IC Markets is the slightly stronger pick if education is a top priority.
| Feature |
FP Markets
|
IC Markets
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that FP Markets is better than IC Markets. FP Markets finished with an overall rank of #19, while IC Markets finished with an overall rank of #21.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 10,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
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IC Markets
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| Trust Score | 90 | 83 |
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Comparing online brokers FP Markets vs IC Markets: neither allows buying actual delivered cryptocurrencies, but both provide cryptocurrency CFD trading.
FP Markets vs IC Markets: both brokers do not offer ACH or SEPA transfers, both support PayPal, Skrill, and bank wire for deposits and withdrawals, and Visa/Mastercard availability is not specified.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | FP Markets | IC Markets | |
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| Trust Score | 90 | 83 | |
| Winner | check_circle | ||
| Review | FP Markets Review | IC Markets Review |
| Broker Screenshots | FP Markets | IC Markets | |
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| Regulation | FP Markets | IC Markets | |
|---|---|---|---|
| Trust Score | 90 | 83 | |
| Year Founded | 2005 | 2007 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 3 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | IC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | No | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FP Markets | IC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | FP Markets | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 7435 | |
| Forex Pairs (Total) | 71 | 61 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | FP Markets | IC Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.3 | 0.62 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.62 | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | FP Markets | IC Markets | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $200 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | FP Markets | IC Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | Yes |
| Trading Tools | FP Markets | IC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 32 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | IC Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | FP Markets | IC Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | Yes | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | IC Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | FP Markets | IC Markets | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | FP Markets Review | IC Markets Review |
| Overall | FP Markets | IC Markets | |
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| Trust Score | 90 | 83 | |
| Winner | check_circle | ||
| Review | FP Markets Review | IC Markets Review |
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