Written by ForexBrokers.com
In this head to head comparison of FP Markets vs iFOREX, 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 iFOREX are two online brokers that differ significantly in their regulatory standings and trust scores. Established in 2005, FP Markets is not a publicly traded company nor a bank, but it holds 2 highly trusted Tier-1 licenses and 1 trusted Tier-2 license. With a Trust Score of 89 out of 99 from ForexBrokers.com, FP Markets is considered a trusted option in the financial world.
On the other hand, iFOREX was founded earlier, in 1996, but like FP Markets, it is neither publicly traded nor a bank. iFOREX holds 1 Tier-1 license and lacks any Tier-2 licenses, which positions it differently in terms of regulatory assurance. With a Trust Score of 75, iFOREX falls into the average risk category. While both brokers offer viable services, FP Markets edges out in trustworthiness according to ForexBrokers.com ratings.
| Feature |
FP Markets
|
iFOREX
|
|---|---|---|
| Year Founded | 2005 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
Looking at commissions and fees, FP Markets comes out ahead of iFOREX. FP Markets is rated 5 out of 5 stars and ranks #6 of 63 brokers in the Commissions and Fees category at ForexBrokers.com, while iFOREX is rated 3 out of 5 stars and ranks #62 of 63. This gap reflects FP Markets’ lower, clearly published trading costs versus limited pricing details from iFOREX.
FP Markets keeps costs tight on its commission-based Raw ECN (MetaTrader and cTrader) accounts. As of October 2023, Raw ECN spreads on EUR/USD averaged 0.1 pips—about 0.8 pips all-in after commission—with cTrader’s Raw charging a flat $6 per round-turn standard lot for forex. Its spread-only Standard account is pricier, averaging 1.1 pips on EUR/USD. In Australia, the Iress suite offers DMA share CFDs with full depth of book; however, the ViewPoint tiers have higher minimums (AUD 1,000/25,000/50,000) and potential platform/data fees unless you qualify for Premier or generate at least AUD 150 in monthly commissions. The Iress Investor plan waives monthly fees but lacks streaming quotes and has simpler charting. FP Markets also earned Best in Class for Commissions and Fees in the 2024 Annual Awards.
By contrast, iFOREX does not publish average spread data, which makes it harder to estimate total trading costs before you fund an account. That limited visibility aligns with its 3-star rating and #62 ranking for Commissions and Fees. Cost-focused traders may find FP Markets’ ECN pricing and transparent fee structure easier to compare and potentially more wallet-friendly.
| Feature |
FP Markets
|
iFOREX
|
|---|---|---|
| Minimum Deposit | $100 AUD | $100 |
| Average spread (EUR/USD) - Standard account | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FP Markets and iFOREX both let you trade forex as CFDs, and each supports cryptocurrency CFDs (neither offers actual, delivered crypto). Neither broker provides access to exchange-traded U.S. or international shares. The big difference is breadth: FP Markets lists about 10,000 tradeable symbols, while iFOREX offers around 750. That said, iFOREX edges ahead on currency choice with 88 forex pairs versus 71 at FP Markets—useful if you focus mainly on forex.
FP Markets also supports copy trading, whereas iFOREX does not. For range of investments, ForexBrokers.com rates FP Markets at 4.5/5 stars (ranked #19 of 63) and iFOREX at 3.5/5 stars (ranked #42 of 63). In short, pick FP Markets if you want a wider overall selection and copy trading options; consider iFOREX if your priority is a larger list of forex pairs.
| Feature |
FP Markets
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 750 |
| Forex Pairs (Total) | 71 | 88 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| Copy Trading | Yes | No |
| 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.
Comparing FP Markets vs iFOREX on trading platforms and tools: FP Markets offers a free demo account for paper trading, while iFOREX does not. Both brokers have their own in-house platforms and provide web-based trading, but only FP Markets also delivers a Windows desktop download. If you want third-party platforms, FP Markets supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5); iFOREX does not support either.
For extra tools, FP Markets includes copy trading, whereas iFOREX does not. Both let you place trades directly from charts. In independent reviews of Trading Platforms and Tools, each broker earns 4 out of 5 stars, but FP Markets ranks higher overall (#23 of 63) than iFOREX (#55 of 63) on ForexBrokers.com.
| Feature |
FP Markets
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 57 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FP Markets and iFOREX both offer mobile trading apps for iPhone and Android. FP Markets stands out for active traders: it supports price alerts, lets you draw trendlines on charts, and automatically saves your chart drawings. Its charting is powered by MetaTrader’s default studies, giving you a familiar toolkit. iFOREX, by contrast, does not offer price alerts, trendline drawing, or auto-saving of drawings, and its app does not list built-in technical studies. Neither broker syncs watchlists between the app and the web platform.
Both apps hold a 4 out of 5 star rating, yet their standings differ: out of 63 brokers, ForexBrokers.com ranks FP Markets at #18 and iFOREX at #56. If you want price alerts and stronger charting features on mobile, FP Markets is the better fit. If you only need basic trading on iPhone or Android without advanced chart tools, iFOREX can do the job.
| Feature |
FP Markets
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | No |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
FP Markets and iFOREX both deliver daily market commentary, an economic calendar, Trading Central insights, and sentiment tools that show the ratio of long vs. short positions. FP Markets goes further with forex news from top-tier sources such as Bloomberg, Reuters, or Dow Jones, and it offers Autochartist for pattern recognition and technical analysis. iFOREX does not provide top-tier news or Autochartist. FP Markets does not include TipRanks or Acuity Trading; iFOREX’s access to TipRanks or Acuity Trading is not specified.
In ForexBrokers.com’s Research ratings, FP Markets scores 4 out of 5 stars and ranks 25th out of 63 brokers, while iFOREX scores 3.5 out of 5 stars and ranks 49th. If you want richer third‑party research and real-time institutional news, FP Markets is the stronger pick; if you mainly need the essentials—commentary, Trading Central analysis, sentiment data, and an economic calendar—iFOREX covers those needs.
| Feature |
FP Markets
|
iFOREX
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | |
| Acuity Trading | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
FP Markets vs. iFOREX for beginner education: both brokers give new traders plenty of learning materials, including at least 10 beginner-focused videos that explain core trading concepts. FP Markets stands out by running client webinars about once a month, letting you learn live and ask questions. It also provides 10+ advanced videos for when you’re ready to go beyond the basics, while iFOREX does not offer monthly educational webinars and lacks a deeper advanced video track.
In independent testing of forex and CFD education, FP Markets earned 4 out of 5 stars and ranked #23 out of 63 brokers; iFOREX scored 3.5 out of 5 stars and ranked #53. Bottom line: if you want a beginner-friendly path that can grow with you—complete with recurring webinars and advanced lessons—FP Markets is the stronger choice. If you only need basic video lessons, iFOREX can still get you started.
| Feature |
FP Markets
|
iFOREX
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
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 iFOREX. FP Markets finished with an overall rank of #19, while iFOREX finished with an overall rank of #52.
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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iFOREX
|
|---|---|---|
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| Trust Score | 89 | 75 |
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In this FP Markets vs iFOREX comparison, neither broker lets you buy and hold actual (delivered) cryptocurrency, but both offer cryptocurrency CFDs for traders seeking price exposure without owning the underlying asset.
In this FP Markets vs iFOREX deposits and withdrawals comparison, FP Markets supports PayPal, Skrill, and bank wire transfers but not ACH/SEPA, while iFOREX also lacks ACH/SEPA and its support for PayPal, Skrill, Visa/Mastercard, and bank wires 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 | iFOREX | |
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| Trust Score | 89 | 75 | |
| Winner | check_circle | ||
| Review | FP Markets Review |
| Broker Screenshots | FP Markets | iFOREX | |
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| Regulation | FP Markets | iFOREX | |
|---|---|---|---|
| Trust Score | 89 | 75 | |
| Year Founded | 2005 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | iFOREX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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 | Yes | |
| 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 | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 750 | |
| Forex Pairs (Total) | 71 | 88 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| Copy Trading | Yes | No | |
| 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 | iFOREX | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | FP Markets | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $100 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | No | No |
| Trading Platforms | FP Markets | iFOREX | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No |
| Trading Tools | FP Markets | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Price Alerts | Yes | No | |
| Charting - Indicators / Studies (Total) | 30 | 57 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | FP Markets | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | No | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | No |
| Research | FP Markets | iFOREX | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central | Yes | Yes | |
| TipRanks | No | ||
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | iFOREX | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | FP Markets | iFOREX | |
|---|---|---|---|
| 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 |
| Overall | FP Markets | iFOREX | |
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| Trust Score | 89 | 75 | |
| Winner | check_circle | ||
| Review | FP Markets Review |
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