Written by ForexBrokers.com
In this head to head comparison of IC Markets vs FxPro, 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.
Founded in 2007, IC Markets is a well-established online broker known for being regulated with two Tier-1 licenses, marking it as a highly trusted entity in the trading world. As a non-bank entity that isn't publicly traded, IC Markets has a Trust Score of 84, making it a reliable choice in the Forex market. It does not hold any Tier-2 licenses, but its strong Tier-1 regulatory standing assures users of a dependable trading environment.
FxPro, on the other hand, was founded a year earlier in 2006 and offers additional assurance with its status as a bank. Not only is it regulated with two Tier-1 licenses, but it also holds one Tier-2 license, providing extra trustworthiness for its clients. Although not publicly traded, FxPro boasts a Trust Score of 93, reflecting a higher level of trust. These factors contribute to its reputation as an attractive option for traders seeking security in the banking sector.
| Feature |
IC Markets
|
FxPro
|
|---|---|---|
| Year Founded | 2007 | 2006 |
| Publicly Traded (Listed) | No | No |
| Bank | No | Yes |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 2 |
When comparing IC Markets and FxPro, IC Markets stands out with its competitive trading costs. It offers three types of accounts: the commission-free Standard account, and the commission-based Raw Spread and cTrader Raw Spread accounts. On the cTrader Raw Spread account, commissions are $3.00 per side for every 100,000 units traded, making the effective spread for EUR/USD 0.62 pips. The MetaTrader-linked Raw Spread account charges slightly more at $3.5 per side, resulting in a total cost of 0.72 pips for EUR/USD. IC Markets’ effective pricing, especially in its commission-based accounts, earned it a 5-star rating and a commendable #5 ranking for Commissions & Fees among 63 brokers.
FxPro, on the other hand, implements a pricing strategy that is slightly above the industry average, with less favorable trading costs compared to its peers. It offers variable spreads on its MT4 and MT5 platforms, with EUR/USD average spreads being notably higher than IC Markets'. FxPro's most competitive offering is on its cTrader platform, with the effective spread for EUR/USD being about 1.27 pips. While FxPro has a solid Active Trader program offering discounts up to 30%, the net benefit still lags behind leaders in the industry. Consequently, FxPro receives a 4-star rating and ranks #32 in the Commissions & Fees category among brokers.
Overall, while both brokers offer comprehensive trading platforms, IC Markets clearly excels in providing lower trading costs, making it a more attractive option for traders seeking value in commissions and fees. FxPro, despite offering competitive features on its cTrader platform, does not quite match the cost-effectiveness presented by IC Markets, especially for those focused on keeping trading expenses down.
| Feature |
IC Markets
|
FxPro
|
|---|---|---|
| Minimum Deposit | $200 | $100 |
| Average Spread EUR/USD - Standard | 0.62 | 1.51 |
| All-in Cost EUR/USD - Active | 0.62 | 1.27 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IC Markets and FxPro both provide forex trading options in the form of CFDs or spot contracts, making them similar in this aspect. However, IC Markets offers a more extensive selection of tradeable symbols, with 3,583 available compared to FxPro's 2,249. When it comes to forex pairs specifically, FxPro edges ahead with 70 pairs versus 61 at IC Markets. While neither platform offers exchange-traded securities on U.S. exchanges, both allow trading on international exchanges, such as shares in Vodafone from the London Stock Exchange.
For those interested in copy trading, both IC Markets and FxPro have suitable options. However, neither platform offers the purchase of actual cryptocurrencies, limiting investments to cryptocurrency derivatives. According to ratings, IC Markets holds a slight advantage with 4.5 stars for their range of investments, while FxPro holds a 4-star rating. In rankings, IC Markets is positioned at #25, slightly ahead of FxPro, which is ranked #28 out of 63 brokers according to ForexBrokers.com.
| Feature |
IC Markets
|
FxPro
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 2249 |
| Forex Pairs (Total) | 61 | 70 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| 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.
Both IC Markets and FxPro cater to traders looking for advanced trading platforms and tools. IC Markets and FxPro each offer free virtual demo accounts, allowing traders to practice without risk. While IC Markets does not have its own proprietary platform, FxPro does, bolstering its portfolio of user-friendly options. Both brokers support popular Windows-based desktop platforms and offer web-based alternatives for versatile trading experiences. They provide ample opportunities for copy trading and support for MetaTrader 4 and MetaTrader 5, with IC Markets also offering ZuluTrade—a feature FxPro does not include.
Charting tools are comprehensive with both brokers, though FxPro offers a more extensive range of drawing tools with 25 compared to IC Markets' 15. Both brokers allow trading directly from stock charts and maintain organized watchlists, with IC Markets providing a slight edge with seven fields compared to FxPro's six. Both brokers are rated four stars for their trading platforms and tools, with IC Markets ranking slightly higher at #16 while FxPro follows closely at #17 according to ForexBrokers.com. These ratings highlight the similar yet distinct strengths of each broker, ensuring traders have reliable resources at their disposal.
| Feature |
IC Markets
|
FxPro
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 53 |
| Charting - Drawing Tools (Total) | 15 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both IC Markets and FxPro offer convenient platforms for iPhone and Android users. Each app caters to traders with essential features such as price alerts and the ability to draw trendlines on forex or stock charts. However, a key difference is in the syncing of watchlist symbols. FxPro provides seamless syncing between its mobile app and online accounts, ensuring your watchlists are updated across devices, whereas IC Markets does not offer this feature.
In terms of charting capabilities, FxPro significantly shines by offering 65 technical studies on its app, compared to IC Markets' 30 studies. Both platforms support viewing multiple time frames and auto-saving chart drawings. For those focused on app ratings, FxPro edges out with a 4.5-star rating and ranks 15th out of 63 brokers according to ForexBrokers.com, surpassing IC Markets which holds a 4-star rating and ranks 22nd. Overall, FxPro might appeal more to traders seeking advanced charting options and streamlined cross-device experience.
| Feature |
IC Markets
|
FxPro
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 65 |
| 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.
IC Markets and FxPro both excel in offering daily market commentary and provide forex news from top-tier sources like Bloomberg and Reuters. While both brokers incorporate tools from Trading Central and sentiment-based features to gauge long or short positions, they differ when it comes to specialized technical tools. IC Markets offers analysis tools from Autochartist, giving users extra capabilities for technical analysis, whereas FxPro does not. Both brokers equip traders with an economic calendar to track global news events, ensuring traders are well-informed on market-moving events.
Despite their similarities, IC Markets edges slightly ahead with tools from Autochartist and ranks higher with a 23rd place for research among 63 brokers, compared to FxPro’s 26th position. Both brokers achieve a commendable 4-star rating for research availability. However, neither IC Markets nor FxPro offers research tools from TipRanks or Acuity Trading, leaving that area untapped. Overall, both brokers provide solid resources to assist both novice and experienced traders in making informed decisions.
| Feature |
IC Markets
|
FxPro
|
|---|---|---|
| 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 | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When exploring educational resources for beginners in the forex and CFDs trading landscape, both IC Markets and FxPro offer comprehensive materials that cater to novice traders. Both brokers provide a variety of educational content, including articles, videos, and archived webinars focused on forex and CFDs education. IC Markets stands out by offering live monthly webinars, allowing participants to engage in interactive learning sessions. While both platforms have searchable archives of past webinars, IC Markets ensures fresh, live content on a monthly basis.
In terms of video content for beginners, both brokers deliver more than 10 instructional videos, making them valuable resources for new traders. However, IC Markets edges ahead with its offering of advanced educational videos, which are missing from FxPro’s lineup. Both platforms provide investor dictionaries packed with over 50 investing terms. Despite both being rated 4 stars for their educational services, IC Markets is ranked slightly higher (#16) compared to FxPro (#18) by ForexBrokers.com among 63 brokers—a small indicator of its edge in educational depth and delivery.
| Feature |
IC Markets
|
FxPro
|
|---|---|---|
| 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 IC Markets is better than FxPro. IC Markets finished with an overall rank of #20, while FxPro finished with an overall rank of #21.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
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FxPro
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 93 |
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Both IC Markets and FxPro do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
IC Markets and FxPro both provide a variety of deposit and withdrawal options, including PayPal, Skrill, Visa, Mastercard, and bank wires, but only FxPro offers the additional convenience of ACH or SEPA transfers.
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 | IC Markets | FxPro | |
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| Trust Score | 84 | 93 | |
| Winner | check_circle | ||
| Review | IC Markets Review | FxPro Review |
| Broker Screenshots | IC Markets | FxPro | |
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| Regulation | IC Markets | FxPro | |
|---|---|---|---|
| Trust Score | 84 | 93 | |
| Year Founded | 2007 | 2006 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 2 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | FxPro | |
|---|---|---|---|
| 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) | 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) | IC Markets | FxPro | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IC Markets | FxPro | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 2249 | |
| Forex Pairs (Total) | 61 | 70 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| 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 | IC Markets | FxPro | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 1.51 | |
| All-in Cost EUR/USD - Active | 0.62 | 1.27 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | FxPro | |
|---|---|---|---|
| Minimum Deposit | $200 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | IC Markets | FxPro | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | FxPro | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 6 | |
| Charting - Indicators / Studies (Total) | 30 | 53 | |
| Charting - Drawing Tools (Total) | 15 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | FxPro | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 65 | |
| 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 | IC Markets | FxPro | |
|---|---|---|---|
| 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 | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | FxPro | |
|---|---|---|---|
| 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 | IC Markets | FxPro | |
|---|---|---|---|
| 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 | IC Markets Review | FxPro Review |
| Overall | IC Markets | FxPro | |
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| Trust Score | 84 | 93 | |
| Winner | check_circle | ||
| Review | IC Markets Review | FxPro Review |
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