IC Markets vs FxPro 2023

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

FxPro is not publicly traded and does not operate a bank. FxPro is authorised by two Tier-1 regulator (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). FxPro is authorised by the following tier-1 regulators: Financial Conduct Authority (FCA) and the European Union via MiFID.

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.

FxPro competes among the top MetaTrader brokers, featuring multiple account options and various execution methods. It provides its own proprietary FxPro Edge app – though it isn’t yet available for mobile – alongside access to the BnkPro app (which isn’t yet available in all regions).

To open a forex trading account with IC Markets, you'll need to make an initial minimum deposit of $200.

IC Markets requires a minimum deposit of $100 before you can open an account and start trading forex.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Both IC Markets and FxPro offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw)

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that IC Markets offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 100 international regulatory agencies to help you choose the most well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Both IC Markets and FxPro hold 2 global Tier-1 licenses. FxPro holds 1 global Tier-2 licenses, while IC Markets holds 0.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that FxPro (90) earned a higher Trust Score than IC Markets (84).

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

Here’s what trading platforms are available at IC Markets:

• Proprietary Platform - No
• Web Platform - Yes
• cTrader - Yes
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - Yes
• TradingView - No

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Here’s what trading platforms are available at FxPro:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - Yes
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - No
• TradingView - No

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The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Both IC Markets and FxPro offer MetaTrader 4 (MT4). Forex traders also appreciate the ability to engage in social copy trading. IC Markets and FxPro both offer copy trading.

FxPro provides traders 70 currency pairs (e.g., EUR/USD) compared to IC Markets's 61 available pairs. If you are interested in trading CFDs, IC Markets offers traders access to 3583 CFDs, while FxPro offers access to 2249 CFDs; so IC Markets offers 1334 more CFDs than FxPro.

We found in our testing that IC Markets offers a more diverse selection of investment options than FxPro, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Cryptocurrency (Physical).