FP Markets vs IronFX 2023

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, FP Markets offers better pricing overall for traders.

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. IronFX holds 3 global Tier-1 licenses, while FP Markets holds 2. FP Markets holds 1 global Tier-2 licenses, while IronFX holds 0. In our analysis of 23 international regulators across 50 brokers, FP Markets (87) earned a higher Trust Score than IronFX (84).

To compare the trading platforms of both FP Markets and IronFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, FP Markets offers a better experience. With research, FP Markets offers superior market research. Finally, we found FP Markets to provide better mobile trading apps.

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both FP Markets and IronFX offer MetaTrader 4 (MT4).FP Markets and IronFX both offer copy trading.

IronFX provides traders 83 currency pairs (e.g., EUR/USD) compared to FP Markets's 71 available pairs. Forex pairs aside, FP Markets offers traders access to 10000 CFDs while IronFX has 340 available CFDs, a difference of 9660.

FP Markets is not publicly traded and does not operate a bank. FP Markets is authorised by two Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). FP Markets is authorised by the following Tier-1 regulators: Australian Securities & Exchange Commission (ASIC) and the European Union via MiFID.

IronFX is not publicly traded and does not operate a bank. IronFX is authorised by three tier-1 regulators (high trust), zero tier-2 regulators (average trust), zero tier-3 regulators (low trust), and one tier-4 regulator. IronFX is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), European Union Authorized (MiFID), and the Financial Conduct Authority (FCA).

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.

IronFX has come a long way to rebuild its brand, acquiring multiple regulatory licenses to improve its Trust Score, and creating balanced educational material. That said, pricing is an area where Iron FX has room to further improve as spreads appeared higher than the industry average.