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 | 1 | 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 | 1.2 | 0.62 |
| All-in Cost EUR/USD - Active | 0.7 | 0.62 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FP Markets and IC Markets both cater to forex traders offering CFDs or spot contracts. However, FP Markets stands out with a significant advantage by providing around 10,000 tradeable symbols compared to IC Markets' 3,583. While both brokers offer an extensive range of forex pairs, FP Markets leads with 71 pairs versus IC Markets’ 61. Neither broker provides clients the option to purchase exchange-traded U.S. securities, but it is worth noting that IC Markets allows investments in international exchange-traded securities, unlike FP Markets.
Both brokers enable copy trading and offer cryptocurrency derivatives as investment options; however, they do not facilitate the purchase of actual cryptocurrencies. Despite these similarities and slight differences, both FP Markets and IC Markets are highly rated for their range of investments, each earning a rating of 4.5 stars. According to ForexBrokers.com, FP Markets holds the 18th position, while IC Markets ranks at 25th in the Range of Investments category out of 63 brokers evaluated.
| Feature |
FP Markets
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 3583 |
| Forex Pairs (Total) | 71 | 61 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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.
When comparing the trading platforms and tools of FP Markets and IC Markets, both brokers provide a wealth of features designed to cater to traders at all levels. FP Markets stands out with its proprietary platform developed in-house, alongside offering popular platforms like MetaTrader 4 and MetaTrader 5, accessible via Windows and web-based platforms. Additionally, traders can benefit from a free virtual demo account for simulated trading and engage in copy trading. With 17 drawing tools available for charting, FP Markets presents a comprehensive trading experience, matched by a user-friendly capability to trade directly from stock charts.
IC Markets, on the other hand, while not having a proprietary trading platform, excels by supporting widely-used platforms MetaTrader 4 and MetaTrader 5, both available for desktop and web use. This broker also offers a free virtual demo account, facilitating practice trading. IC Markets distinguishes itself by integrating ZuluTrade for copy trading enthusiasts. Similar to FP Markets, IC Markets provides the convenience of trading from stock charts and includes 15 drawing tools for detailed chart analysis. Both brokers offer 7 columns for watch lists. Despite similar features and both receiving a 4-star rating for their trading tools, IC Markets edges slightly ahead in industry rankings, taking the #16 spot compared to FP Markets' #23.
| Feature |
FP Markets
|
IC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 17 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of FP Markets and IC Markets, both offer robust functionality across iPhone and Android devices. Traders will find useful features like stock or forex price alerts and the ability to draw trendlines on charts in both apps. Each mobile platform supports viewing different time frames—be it daily, weekly, or intraday—while also automatically saving chart drawings. However, neither provides watchlist symbol syncing, meaning changes in your watchlist won't sync between the mobile app and the online account. While FP Markets offers charting through MetaTrader, IC Markets offers up to 30 technical studies, which might be appealing for those who value in-depth technical analysis.
Both FP Markets and IC Markets allow users to create watchlists with real-time quotes, meeting a key need for active traders. User ratings reflect solid performance, with each broker receiving a 4-star rating for their mobile trading apps. Ranked by ForexBrokers.com, FP Markets comes in at #18, slightly ahead of IC Markets, which is positioned at #22 out of 63 brokers. This ranking might suggest a marginal edge for FP Markets in terms of mobile app offerings, though both brokers deliver a competitive and comprehensive trading experience on the go.
| Feature |
FP Markets
|
IC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | 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 | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing FP Markets and IC Markets in terms of educational resources for beginners, both online brokers offer comprehensive learning opportunities. Each provides over 10 educational materials, including articles, videos, and archived webinars, focusing primarily on forex or CFDs. Beginners can also benefit from monthly online webinars, which are archived for later viewing, making it easy to expand their trading knowledge at their own pace. Both brokers go beyond beginner content, offering at least 10 advanced videos to cater to more experienced traders. Additionally, their investor dictionaries boast definitions of over 50 investing terms, ensuring traders have a solid foundation of essential concepts.
Despite both FP Markets and IC Markets being rated 4 stars for education, IC Markets holds a slight edge in industry rankings. According to ForexBrokers.com, IC Markets is ranked at #16, while FP Markets is positioned at #23 out of 63 brokers. This difference suggests IC Markets may offer slightly superior educational offerings or user satisfaction in this area. However, both options provide a rich portfolio of educational resources, making them strong choices for traders at any level of expertise.
| Feature |
FP Markets
|
IC Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | 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
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 84 |
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Both FP Markets and IC Markets do not offer the ability to buy actual delivered cryptocurrency, but they both provide the option to trade cryptocurrency derivatives.
Both FP Markets and IC Markets provide several deposit and withdrawal options, including PayPal, Skrill, Visa, Mastercard, and bank wires, but neither supports ACH or SEPA transfers.
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 | 1 | 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) | No | No | |
| 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) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FP Markets | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 3583 | |
| Forex Pairs (Total) | 71 | 61 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | 1.2 | 0.62 | |
| All-in Cost EUR/USD - Active | 0.7 | 0.62 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | Yes | |
| 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 | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | FP Markets | IC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | FP Markets | IC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 17 | 15 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FP Markets | IC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | IC Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FP Markets | IC Markets | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| 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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