Written by ForexBrokers.com
In this head to head comparison of IG vs FP 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.
IG, established in 1974, stands out as a reliable online broker, achieving the highest Trust Score of 99 on ForexBrokers.com. As a publicly traded company and a bank, IG demonstrates strong stability and credibility in the financial market. It also boasts eight highly trusted Tier-1 licenses and two trusted Tier-2 licenses. This comprehensive regulatory framework underscores IG's position as a highly secure option for traders.
FP Markets, founded in 2005, is not publicly traded nor a bank, yet it retains a commendable Trust Score of 89, categorized as trusted by ForexBrokers.com. The broker holds two Tier-1 and one Tier-2 licenses, ensuring a reliable level of trust and security for its clients. While it may not match IG's extensive regulatory credentials, FP Markets remains a respected choice for traders seeking dependable service.
| Feature |
IG
|
FP Markets
|
|---|---|---|
| Year Founded | 1974 | 2005 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 2 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the commissions and fees of online brokers IG and FP Markets, both companies shine in providing competitive trading conditions, yet they cater to slightly different needs. IG, rated 5 stars, is ranked #8 by ForexBrokers.com for its Commissions and Fees category. Known for its scaled execution across various products and multiple execution methods, IG stands out with its Forex Direct accounts' pricing. For instance, in July 2023, the spreads on its Forex Direct account averaged 0.62 pips, with an all-in cost reaching 0.82 after a per trade commission equivalent of 0.2 pips. The CFD account's average spread was also competitive, marking 0.69 pips during its main trading sessions.
FP Markets, also rated 5 stars, holds a slightly higher ranking at #6 for its commissions and fees. The broker is praised for its cost-effective MetaTrader and cTrader offerings, excelling particularly in the commission-based ECN account where spreads average 0.1 pips, resulting in an all-in cost of 0.8 pips after considering the commission. This aligns with its recognition in the 2024 Annual Awards. However, its Iress ViewPoint account, requiring significant deposit thresholds, may be less appealing for those not trading with high-balance accounts. FP Markets’ blend of spread-only and commission-based options provides flexibility for different trading styles.
Ultimately, both IG and FP Markets offer varied structures catering to distinct trading strategies and preferences. IG’s robust Forex Direct and CFD offerings present viable options, particularly for active traders who qualify for rebates or engage in high-volume trading. Meanwhile, FP Markets stands out as a cost leader for its ECN account, delivering efficient pricing. Each broker suits different trader profiles, whether it be IG’s scale and execution or FP Markets’ lean pricing models.
| Feature |
IG
|
FP Markets
|
|---|---|---|
| Minimum Deposit | £250.00 | $100 AUD |
| Average Spread EUR/USD - Standard | 0.98 | 1.2 |
| All-in Cost EUR/USD - Active | 0.82 | 0.7 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing IG to FP Markets in terms of available investment options, IG clearly stands out with a wider array of choices. With 19,537 tradeable symbols, including 97 forex pairs, IG provides investors with extensive opportunities to diversify their portfolios. Additionally, IG enables clients to purchase exchange-traded securities on both U.S. and international exchanges, allowing them to invest directly in companies like Apple and Vodafone. Furthermore, IG also offers the flexibility to buy both actual cryptocurrencies and cryptocurrency derivatives, although it does not support copy trading.
FP Markets, on the other hand, offers a comprehensive selection of 10,000 tradeable symbols, including 71 forex pairs. Though it doesn't support the purchase of exchange-traded securities on the U.S. or international markets, FP Markets compensates for this by providing copy trading options and the ability to trade cryptocurrency derivatives. Rated 4.5 stars for its range of investments, FP Markets ranks #18 out of 63 brokers according to ForexBrokers.com, while IG holds a higher position at #4, with a perfect 5-star rating for its diverse investment range.
| Feature |
IG
|
FP Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 10000 |
| Forex Pairs (Total) | 97 | 71 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | 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 choosing between the trading platforms offered by IG and FP Markets, several factors come into play. Both brokers provide a free virtual demo account, making it easy for users to practice trading without financial risk. They each have developed proprietary platforms and support popular third-party options like MetaTrader 4, with FP Markets also offering MetaTrader 5. Users preferring Windows-based desktop applications or web-based platforms will find options available from both brokers. However, FP Markets offers copy trading capabilities which IG does not, potentially appealing to traders interested in following and mimicking expert strategies.
Regarding charting tools, IG provides 20 drawing tools, while FP Markets offers 17, allowing in-depth technical analysis. Both brokers support trading directly from stock charts, enhancing user experience. For watchlists, FP Markets users can customize up to 7 columns compared to IG's 5. With a top rating of 5 stars, IG excels in Trading Platforms and Tools, ranking second among 63 brokers, while FP Markets has a slightly lower rating of 4 stars, securing the 23rd spot. Ultimately, IG stands out for its comprehensive offerings and superior ratings, while FP Markets presents a strong alternative, particularly for those prioritizing MT5 and copy trading features.
| Feature |
IG
|
FP Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 30 |
| Charting - Drawing Tools (Total) | 20 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When evaluating the mobile trading apps of IG and FP Markets, both platforms offer apps compatible with iPhone and Android devices, providing a seamless trading experience. Each app allows users to set stock or forex price alerts and includes the functionality to draw trendlines and view multiple time frames on charts. However, IG users enjoy additional perks such as automatic syncing of watchlists with their online accounts, a feature that FP Markets does not offer. IG’s app also boasts 33 technical studies for charting, whereas FP Markets relies on the default settings of the MetaTrader platform, potentially limiting advanced users looking for more customization.
Both apps allow traders to create watchlists with real-time quotes, and any drawings made on charts are automatically saved. While IG and FP Markets serve up a strong set of features for mobile traders, IG receives a higher user rating with five stars, in contrast to FP Markets’ four stars. This is reflected in ForexBrokers.com rankings, where IG is celebrated as the top broker out of 63 contenders for mobile trading, while FP Markets ranks 18th. For those prioritizing mobile trading efficiency and comprehensive charting tools, IG's app stands out as a superior option.
| Feature |
IG
|
FP Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | MetaTrader (Default) |
| 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.
When comparing online brokers IG and FP Markets for their market research offerings, both platforms provide commendable features, including daily market commentary, forex news from top-tier sources like Bloomberg and Reuters, and a sentiment-based trading tool to gauge market positions. They also offer technical analysis tools from Autochartist, ensuring traders have comprehensive resources at their disposal. However, FP Markets edges ahead in some areas by integrating Trading Central's analytical tools, which are not part of IG's offerings. Meanwhile, IG distinguishes itself with exclusive access to TipRanks and Acuity Trading tools, which are absent in FP Markets.
Both brokers include an economic calendar to keep traders informed of global financial events, facilitating strategic decision-making. Despite these similarities, IG shines with a 5-star rating for research from ForexBrokers.com and holds an impressive second-place ranking out of 63 brokers in this category. In contrast, FP Markets receives a 4-star rating, placing it 25th. This distinction highlights IG as a premier choice for traders prioritizing an extensive array of research tools and insights.
| Feature |
IG
|
FP Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
IG and FP Markets both offer comprehensive educational resources for those new to forex and CFDs trading. Both platforms provide a rich selection of at least 10 educational materials, including articles and videos. They also host monthly online webinars and maintain accessible archives for users to explore previously recorded sessions at their own pace. Beginners and advanced traders alike can benefit from the more than 10 video tutorials that each platform offers, ensuring a well-rounded learning experience. Additionally, both brokers have an investor dictionary, giving clear definitions for over 50 investing terms, which is instrumental in helping novices understand complex concepts.
When comparing IG and FP Markets' educational offerings, both brokers ensure quality resources. However, IG stands out with a higher educational rating of 5 stars compared to FP Markets' 4 stars. Furthermore, IG holds the top spot as the number one ranked broker out of 63, according to ForexBrokers.com, while FP Markets ranks as number 23. This highlights IG's commitment to providing superior educational support to its users, making it an exceptional choice for beginner traders eager to enhance their trading knowledge and skills.
| Feature |
IG
|
FP 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 IG is better than FP Markets. IG finished with an overall rank of #1, while FP Markets finished with an overall rank of #19.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
|
FP Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 89 |
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IG provides options for buying actual delivered cryptocurrency and cryptocurrency derivatives, whereas FP Markets only offers the ability to invest in cryptocurrency derivatives, not the actual cryptocurrency.
IG offers multiple fund transfer options, including ACH, SEPA, PayPal, Visa, Mastercard, and bank wires, while FP Markets provides flexibility with PayPal, Skrill, Visa, Mastercard, and bank wires, but lacks ACH and SEPA transfer capabilities.
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 | IG | FP Markets | |
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| Trust Score | 99 | 89 | |
| Winner | check_circle | ||
| Review | IG Review | FP Markets Review |
| Broker Screenshots | IG | FP Markets | |
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| Regulation | IG | FP Markets | |
|---|---|---|---|
| Trust Score | 99 | 89 | |
| Year Founded | 1974 | 2005 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 2 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IG | FP Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | FP Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | FP Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 10000 | |
| Forex Pairs (Total) | 97 | 71 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | IG | FP Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.7 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | FP Markets | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $100 AUD | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | IG | FP Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | FP Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 7 | |
| Charting - Indicators / Studies (Total) | 33 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | FP Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 33 | MetaTrader (Default) | |
| 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 | IG | FP Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | FP 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 | IG | FP 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 | IG Review | FP Markets Review |
| Overall | IG | FP Markets | |
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| Trust Score | 99 | 89 | |
| Winner | check_circle | ||
| Review | IG Review | FP Markets Review |
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