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 and IC Markets stand out in the online trading world with their solid regulatory credentials and trust ratings. Founded in 2005, FP Markets has established itself with two top-level Tier-1 licenses and a Tier-2 license, leading to a notable trust score of 89. Although it isn't publicly traded or a bank, its licensing and trust score put it in the "trusted" category, making it a reliable choice for traders.
Meanwhile, IC Markets, founded in 2007, holds two Tier-1 licenses, reflecting its strong regulatory standing. With a ForexBrokers.com trust score of 84, it remains a trusted platform, although slightly behind FP Markets in terms of score. Like its competitor, IC Markets is not publicly traded nor operates as a bank, but it maintains confidence among traders through its regulatory compliance. Both brokers offer a trusted environment, but FP Markets holds a slight edge in trust score and licensing diversity.
| 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 stands out with competitive pricing through its MetaTrader and cTrader platforms, making it one of the most cost-effective brokers globally for its commission-based ECN accounts. This efficiency earns FP Markets a prestigious 5-star rating for commissions and fees, along with the Best in Class award for 2024. The Raw ECN account offers attractive spreads averaging 0.1 pips, with a total cost of 0.8 pips after commission. However, its Iress platform caters to high-balance accounts, with noteworthy costs for the ViewPoint account unless certain conditions are met. The Iress Investor Account offers a more economical choice but comes with limitations, like the lack of streaming data.
IC Markets, renowned for low-cost trading, also attains a 5-star rating and Best in Class status for commissions and fees in 2024. With minimal effective spreads and a low deposit requirement, IC Markets matches the affordability found in top-tier forex brokers like IG and CMC Markets. The broker offers three main account types: commission-free Standard, commission-based Raw Spread, and cTrader Raw Spread accounts. The slight difference between cTrader and MetaTrader platforms centers on commissions; the cTrader account features a slightly lower fee at $6.00 per round turn compared to $7.00 on MetaTrader.
Between these two brokers, IC Markets ranks slightly higher at #5 compared to FP Markets at #6 in the Commissions and Fees category by ForexBrokers.com. Each broker provides competitive pricing models tailored to different types of traders, with IC Markets offering additional discounts for those trading over 100 standard lots per month. Both brokers cater to diverse trading needs, ensuring highly attractive conditions for their clients.
| Feature |
FP Markets
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $100 AUD | $200 |
| Average spread (EUR/USD) - Standard account | 1.2 | 0.62 |
| All-in Cost EUR/USD - Active | 0.7 | 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 support forex trading as CFDs/spot and each offers copy trading. FP Markets lists about 10,000 tradeable symbols and 71 forex pairs, while IC Markets offers roughly 3,583 symbols and 61 forex pairs. Both let you trade cryptocurrency via CFDs (not the actual coins). Neither broker lets you buy U.S.-listed shares for direct ownership.
If you want the widest selection of instruments and forex pairs, FP Markets has the edge. If you want access to exchange-traded international shares (non-U.S.), IC Markets is the only one of the two that provides it. Both earn a 4.5-star Range of Investments rating from ForexBrokers.com; FP Markets ranks #19 out of 63 brokers, and IC Markets ranks #26.
| Feature |
FP Markets
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 3583 |
| Forex Pairs (Total) | 71 | 61 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | Yes |
| 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 check the key boxes for trading platforms and tools. Each broker offers a free demo account for simulated trading, Windows desktop and web-based platforms, copy trading, and the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5). You can place trades directly from charts with either broker. A notable difference: FP Markets also provides a proprietary, in-house platform option, while IC Markets focuses on third-party platforms. Both include helpful chart indicators and watchlist features to support analysis.
In terms of recognition, both brokers earn 4 out of 5 stars for Trading Platforms and Tools. However, ForexBrokers.com ranks IC Markets higher at #16 of 63, compared with FP Markets at #23. If you value having a broker-built platform in addition to MT4/MT5, FP Markets may suit you; if a higher category ranking is your priority, IC Markets has a slight edge.
| 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 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Comparing FP Markets and IC Markets for mobile trading, both brokers offer iPhone and Android apps with price alerts, trendline drawing, and auto-saved chart annotations. Neither app syncs watchlists between mobile and the web platform, which could matter if you switch devices often.
For charting, FP Markets uses the MetaTrader app’s default set of indicators, while IC Markets lists 30 technical studies in its mobile app. Both earn 4 out of 5 stars for mobile trading apps, but FP Markets ranks a bit higher at #18 versus IC Markets at #22 out of 63 brokers on ForexBrokers.com. If you want a MetaTrader-centric experience, FP Markets fits well; if a defined set of 30 indicators appeals to you, IC Markets is a solid pick—either way, the core mobile features are closely matched.
| Feature |
FP Markets
|
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.
Both FP Markets and IC Markets provide a comprehensive suite of market research tools aimed at enhancing your trading experience. Each broker offers daily market commentary and delivers forex news from premier sources like Bloomberg and Reuters. They also both integrate advanced technical analysis features including Autochartist tools and Trading Central analytics, equipping traders with valuable insights. In addition, the sentiment-based trading tools available at both brokers reveal the ratio of long and short positions, providing vital market sentiment data. Furthermore, FP Markets and IC Markets offer economic calendars to ensure traders are aware of significant global events that could impact market dynamics.
Despite these similarities, there are slight differences in their research rankings and ratings. While both brokers receive a strong four-star rating for their research offerings, IC Markets is slightly better positioned, ranking 23rd compared to FP Markets at 25th out of 63 brokers by ForexBrokers.com. However, neither broker offers market research from TipRanks or tools from Acuity Trading, like Signal Centre. These factors may influence a trader's choice depending on their specific research needs and the importance they place on broker rankings.
| Feature |
FP Markets
|
IC Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
FP Markets and IC Markets both deliver beginner-friendly forex and CFD education. Each broker offers well over ten pieces of learning content and runs live client webinars at least monthly. If you’re new to trading, you’ll find dedicated beginner video lessons at both brands—more than ten at each—plus a similar volume of advanced videos for when you’re ready to go deeper.
In independent reviews, both received 4 out of 5 stars for Education from ForexBrokers.com. IC Markets ranks #16 out of 63 brokers in the Education category, while FP Markets ranks #23. That slight ranking edge gives IC Markets a small advantage on overall educational breadth, but beginners can confidently start with either broker thanks to their sizable video libraries and steady schedule of webinars.
| 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 #20.
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 9,000 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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|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 84 |
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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 | 89 | 84 | |
| 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 | 89 | 84 | |
| 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 (SFC 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 SCA 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 | 3583 | |
| Forex Pairs (Total) | 71 | 61 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | Yes | |
| 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 | 1.2 | 0.62 | |
| All-in Cost EUR/USD - Active | 0.7 | 0.62 | |
| Inactivity Fee | No | No | |
| 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 | 30 | |
| 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 | Yes | |
| Trading Central | Yes | Yes | |
| TipRanks | No | No | |
| 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 | 89 | 84 | |
| Winner | check_circle | ||
| Review | FP Markets Review | IC Markets Review |
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