Written by ForexBrokers.com
In this head to head comparison of FP Markets vs IronFX, 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, established in 2005, and IronFX, which started in 2010, are both online brokers that cater to traders looking for reliable platforms. Neither FP Markets nor IronFX is publicly traded or operates as a bank. FP Markets holds two highly trusted Tier-1 licenses and one trusted Tier-2 license, resulting in a Trust Score of 89 from ForexBrokers.com. This places FP Markets in the trusted category.
In comparison, IronFX has a slightly lower Trust Score of 83, as it holds three highly trusted Tier-1 licenses but lacks Tier-2 licenses. While both brokers enjoy a strong reputation, FP Markets holds a slight edge in trustworthiness with its higher score and additional licensing. Traders evaluating these brokers will find that FP Markets is slightly more trusted, although IronFX also presents a reliable option in the online trading arena.
| Feature |
FP Markets
|
IronFX
|
|---|---|---|
| Year Founded | 2005 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When it comes to commissions and fees, FP Markets stands out with its highly competitive pricing, particularly for its commission-based ECN account. The broker's Raw ECN account features attractively low spreads, averaging 0.1 pips as of October 2023, translating to 0.8 pips when including commissions. Its Standard account offers higher spreads, averaging 1.1 pips for the EUR/USD pair. FP Markets has also been recognized for its excellence, earning a "Best in Class" honor for Commissions and Fees in 2024 and ranking 6th out of 63 brokers according to ForexBrokers.com, with a 5-star rating for this category.
FP Markets offers flexibility with its trading platforms, including MetaTrader and cTrader, both supporting spread-only or commission-based accounts. For traders in Australia, the Iress platform presents diverse options with distinct minimum deposit requirements, focusing mainly on active traders with high-balance accounts. While FP Markets excels in offering competitive fees, its premium Iress ViewPoint account may not be the most budget-friendly choice, whereas the Iress Investor account offers a more cost-effective alternative with some compromises in features.
In contrast, IronFX has room for improvement in its pricing structure, as its typical spreads are higher than the industry average. The Standard variable spread account, for example, lists a 1.8 pips spread. Their zero fixed-spread account starts from zero with a commission of $18 per lot, though the spreads widen to 3 pips overnight. IronFX holds a 4-star rating and is ranked 47th in the Commissions and Fees category by ForexBrokers.com. This comparison clearly highlights FP Markets' advantage in offering cost-effective trading solutions, particularly for traders who prioritize low fees and spreads.
| Feature |
FP Markets
|
IronFX
|
|---|---|---|
| Minimum Deposit | $100 AUD | $50 |
| Average Spread EUR/USD - Standard | 1.2 | 1.2 |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| 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 IronFX both support forex trading (CFD or spot), offer copy trading, and let you trade crypto via derivatives, but neither broker lets you buy actual cryptocurrencies or real exchange-traded shares on U.S. or international markets (so you can’t purchase companies like Apple or Vodafone directly). When it comes to overall market access, FP Markets lists about 10,000 tradeable symbols, far more than IronFX’s 340. That said, IronFX edges ahead in forex pair count with 83 pairs versus FP Markets’ 71, which may appeal to currency-focused traders.
For range of investments, FP Markets earns 4.5 out of 5 stars and ranks #19 out of 63 brokers at ForexBrokers.com, while IronFX scores 3.5 stars and ranks #52. In short, FP Markets is the better pick if you want a much wider selection of markets, whereas IronFX can suit traders who mainly want a bigger list of forex pairs without needing a large catalog of other instruments.
| Feature |
FP Markets
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 340 |
| Forex Pairs (Total) | 71 | 83 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| 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.
FP Markets and IronFX both make it easy to get started with a free demo account for paper trading and offer web and Windows desktop platforms, copy trading, and the ability to place trades directly from charts. FP Markets stands out by providing its own in-house platform and supporting both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while IronFX supports MT4 but not MT5 and does not have a proprietary platform. For charting, FP Markets lists 17 drawing tools compared with 15 at IronFX, and both brokers offer watch lists with seven data columns. Neither broker supports DupliTrade or ZuluTrade.
In independent testing by ForexBrokers.com, FP Markets earned 4 stars and ranked #23 out of 63 brokers for Trading Platforms and Tools, while IronFX scored 3.5 stars and ranked #62. In short, FP Markets is a stronger pick if you want MT5 and an in-house platform alongside MT4, whereas IronFX may suit traders focused on MT4. Both brokers let you practice risk-free with a virtual demo before funding an account.
| Feature |
FP Markets
|
IronFX
|
|---|---|---|
| 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 | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| 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.
FP Markets and IronFX both check the basics for mobile traders: each offers iPhone and Android apps, real-time watchlists, and price alerts. A key limitation for both is watchlist syncing—lists you build on mobile won’t mirror changes in your web or desktop platform.
For charting, FP Markets uses MetaTrader’s default toolkit, while IronFX lists 30 technical studies. Both apps let you draw trendlines, switch among multiple time frames, and auto-save chart drawings. In independent testing by ForexBrokers.com, FP Markets earned 4 stars and ranked #18 out of 63 for Mobile Trading Apps, while IronFX received 3.5 stars and ranked #63.
| Feature |
FP Markets
|
IronFX
|
|---|---|---|
| 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.
FP Markets and IronFX both deliver daily market commentary and premium forex news from major outlets, plus Trading Central tools and a global economic calendar. That means each broker covers the essentials for market research, from timely updates to technical insights.
The key differences appear in extra tools. FP Markets adds Autochartist for pattern scanning and a sentiment tool that shows the ratio of long and short positions—features IronFX does not provide. FP Markets does not offer TipRanks or Acuity Trading; for IronFX, availability of those services is not confirmed. Both are rated 4 stars for research by ForexBrokers.com, with FP Markets ranked #25 out of 63 brokers and IronFX at #29. If you want added automation and sentiment data, FP Markets has the edge; for core news and analysis, both perform well.
| Feature |
FP Markets
|
IronFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, FP Markets and IronFX both provide over ten educational materials such as articles, videos, and archived webinars focusing on forex and CFDs. FP Markets stands out by offering monthly online webinars that engage clients, while IronFX does not provide this service. Both brokers feature a searchable archive of past webinars and offer more than ten beginner educational videos, which are excellent for newcomers to the trading sector.
For those seeking advanced knowledge, FP Markets provides over ten specialized videos for experienced traders, whereas IronFX lacks in this area. Both brokers include an investor dictionary with definitions of more than 50 investing terms. Despite both earning a 4-star rating for education, FP Markets ranks higher at #23 compared to IronFX's #44 according to ForexBrokers.com. This indicates FP Markets may offer a slightly more comprehensive educational experience for new traders looking to broaden their understanding of the market.
| Feature |
FP Markets
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| 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 IronFX. FP Markets finished with an overall rank of #19, while IronFX finished with an overall rank of #48.
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
|
IronFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 83 |
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Both FP Markets and IronFX do not offer the option to buy actual (delivered) cryptocurrency, but they do provide the ability to purchase cryptocurrency derivatives.
While both FP Markets and IronFX provide options for depositing or withdrawing account funds using Skrill, Visa/Mastercard, and bank wires, FP Markets also supports PayPal transfers, unlike IronFX, but neither broker offers ACH or SEPA transfer methods.
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 | IronFX | |
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| Trust Score | 89 | 83 | |
| Winner | check_circle | ||
| Review | FP Markets Review |
| Broker Screenshots | FP Markets | IronFX | |
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| Broker Gallery (click to expand) |
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| Regulation | FP Markets | IronFX | |
|---|---|---|---|
| Trust Score | 89 | 83 | |
| Year Founded | 2005 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | IronFX | |
|---|---|---|---|
| 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 | 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 | IronFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| 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) |
| Investments | FP Markets | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 340 | |
| Forex Pairs (Total) | 71 | 83 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| 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 | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | IronFX | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | No | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | ||
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FP Markets | IronFX | |
|---|---|---|---|
| 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 |
| Overall | FP Markets | IronFX | |
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| Trust Score | 89 | 83 | |
| Winner | check_circle | ||
| Review | FP Markets Review |
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