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 | 1 | 1 |
FP Markets stands out among global online brokers for its competitive pricing, primarily through its MetaTrader and cTrader platforms, making it a popular choice for traders worldwide. With a 5-star rating and a commendable ranking of 6th out of 63 in the Commissions and Fees category, FP Markets has demonstrated significant cost efficiency, especially for its ECN account offerings. Their Raw ECN account, featuring average spreads of 0.1 pips, translates to 0.8 pips all-in after commissions. Active traders may benefit from the DMA pricing model of FP Markets' Iress ViewPoint accounts, although these accounts are generally more suitable for those with substantial trading balances.
Comparatively, IronFX presents a less competitive pricing structure. With a 4-star rating and a ranking of 46th in the same category by ForexBrokers.com, IronFX tends to have spreads above the industry average. For instance, their Standard account lists a typical spread of 1.8 pips. Although IronFX offers a zero fixed-spread account option, it comes with a high commission of $18 per lot and spreads widen to 3 pips overnight, which could diminish savings for traders.
In conclusion, while both FP Markets and IronFX offer various account types catering to different trading needs, FP Markets excels in providing cost-effective options with its ECN accounts and is recognized for its class-leading commissions and fees structure. Meanwhile, IronFX could benefit from further refining its pricing to enhance competitiveness in the market.
| 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.
When comparing the range of investments available at FP Markets and IronFX, both platforms provide forex trading as CFDs or spot contracts. FP Markets impresses with a wider selection of over 10,000 tradable symbols, which includes 71 forex pairs. In contrast, IronFX offers a more modest range with 340 tradable symbols, yet it provides a slightly higher number of forex pairs at 83. Neither broker offers exchange traded securities on U.S. or international exchanges, limiting their options to CFDs and derivatives. For those interested in cryptocurrency, both platforms allow trading via derivatives, but not actual cryptocurrency purchases.
FP Markets stands out with copy trading features and earns a rating of 4.5 stars for its broad range of investments, securing the #18 spot out of 63 brokers according to ForexBrokers.com. While IronFX also supports copy trading, it receives a lower investment range rating of 3.5 stars, ranking #51 in the same category. This analysis highlights FP Markets as a more versatile option for traders looking for a diverse array of investment choices, particularly with its expansive list of tradable symbols.
| 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.
When comparing the trading platforms and tools offered by FP Markets and IronFX, both brokers provide free virtual demo accounts, allowing traders to practice without financial risk. FP Markets sets itself apart by offering a proprietary trading platform in addition to the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5), whereas IronFX only supports MT4 and lacks an in-house platform. Both brokers have options for Windows-based desktop trading and web-based platforms, making it convenient for traders who prefer different access points. Copy trading is available from both, but neither supports DupliTrade or ZuluTrade.
In terms of charting, FP Markets offers 17 drawing tools while IronFX provides 15, allowing traders to customize their technical analysis. Both support trading directly from stock charts and offer seven columns for watch lists. When it comes to platform ratings, FP Markets receives a higher rating of 4 stars, indicating stronger market appeal compared to IronFX's 3.5 stars. On the ForexBrokers.com ranking for trading platforms and tools, FP Markets is positioned at a more favorable #23 out of 63 brokers, while IronFX ranks much lower at #61, reflecting the comprehensive functionality and trader satisfaction associated with FP Markets.
| 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.
When comparing the mobile trading apps of FP Markets and IronFX, both offer apps compatible with iPhone and Android devices, ensuring accessibility for users on the most popular platforms. For traders who rely on timely information, both brokers provide stock or forex price alerts directly within their apps. However, neither broker offers watchlist symbol syncing, so you'll have to update your lists manually both on the mobile app and the main online account. FP Markets supports MetaTrader's default number of technical studies, while IronFX offers 30 technical studies for charting, giving IronFX a slight edge in this area.
Both FP Markets and IronFX enable users to draw trendlines on stock or forex charts and view multiple time frames such as daily, weekly, or intraday, which is ideal for analyzing market trends. Additionally, any chart drawings you make will auto-save in both apps, so you won't lose your customizations unexpectedly. Each app also supports creating a watchlist with real-time quotes, helping you keep track of the instruments you're most interested in. In terms of user ratings, FP Markets scores slightly higher with 4 stars, compared to IronFX's 3.5 stars. FP Markets is ranked #18 by ForexBrokers.com among 63 brokers for mobile trading apps, showcasing its higher standing relative to IronFX, which is positioned at #62.
| 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.
When comparing FP Markets and IronFX for their market research offerings, both brokers provide daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. This ensures traders stay informed with timely and accurate information. While both brokers offer tools from Trading Central, FP Markets goes a step further by also providing Autochartist tools, enhancing the technical analysis options available to their clients. However, neither broker includes research tools from Acuity Trading or market insights from TipRanks.
Additionally, FP Markets offers a sentiment-based trading tool that gives insights into long or short positions across various instruments, a feature not available with IronFX. Both brokers include an economic calendar to track global economic news. With these features in mind, FP Markets is ranked 25th and IronFX 28th among 63 brokers by ForexBrokers.com, both receiving a solid 4-star rating for research. FP Markets' inclusion of Autochartist and sentiment tools may appeal to traders seeking a more diversified set of analysis options.
| 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 | No |
| Signal Centre (Acuity Trading) | No | 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
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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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| 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 | 1 | 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) | No | No | |
| 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) | 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 | 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 | 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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