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 in terms of commissions and fees, IC Markets emerges as a top choice for cost-conscious traders. It offers three main account types: a commission-free Standard account and two commission-based accounts — the Raw Spread (MT4 or MT5) and cTrader Raw Spread. The cTrader account charges $3.0 per side for every 100,000 units, leading to competitive EUR/USD trading costs of 0.62 pips, factoring in commission. The Standard account, averaging 0.62 pips without commission, provides an attractive option for those preferring spread-only pricing. IC Markets holds a five-star rating for commissions and fees and ranks 5th out of 62 brokers surveyed by ForexBrokers.com.
FxPro, on the other hand, presents a slightly less competitive pricing structure, obtaining a four-star rating and ranking 32nd in the same category. FxPro offers variable and fixed spreads through its MT4 platform and introduces two execution-based pricing options: instant execution with no slippage but possible requotes, and market execution allowing for slippage without requotes. For traders using its cTrader platform, FxPro provides its most competitive spreads — an average of 0.37 pips with an additional effective spread making the total around 1.27 pips on EUR/USD trades. The variable spread model features average EUR/USD spreads of 1.58 pips on market execution.
Active traders might consider the brokerage's loyalty discounts. IC Markets offers reduced fees for those trading over 100 standard lots monthly, giving more incentive for high-volume traders. FxPro has an Active Trader program with discounts up to 30%, though it remains somewhat overshadowed by its competitors' offerings. Ultimately, IC Markets stands out for its lower trading costs, more favorable spreads, and higher ranking in industry evaluations, making it more appealing for traders prioritizing cost efficiency.
| 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.
When comparing IC Markets and FxPro for their range of available investments, both brokers offer a comprehensive selection for forex trading, available as CFDs or spot contracts. IC Markets provides an impressive 3,583 tradeable symbols and 61 forex pairs, while FxPro offers a smaller but still substantial selection with 2,249 symbols and 70 forex pairs. Both brokers do not offer the ability to buy exchange-traded securities on U.S. exchanges, but they do allow trading on international exchanges, enabling clients to purchase shares like Vodafone on the London Stock Exchange. Both also provide options for trading cryptocurrency derivatives but do not offer actual cryptocurrency purchases.
In terms of ratings, IC Markets holds a slight advantage with a 4.5-star rating for the range of investments, whereas FxPro is rated at 4 stars. On the ForexBrokers.com ranking for range of investments among 62 brokers, IC Markets is placed at #25, while FxPro is a bit further down at #28. Both platforms facilitate copy trading, giving clients additional flexibility in managing their investment strategies. Overall, IC Markets stands out with a broader range of tradeable symbols, while FxPro offers a slightly greater variety of forex pairs.
| 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.
IC Markets and FxPro both shine as competitive online brokers, each offering an array of trading platforms and tools to enhance the trading experience. Traders with IC Markets can enjoy the flexibility of a Windows-based desktop platform, a web-based platform, and popular trading platforms like MetaTrader 4 and MetaTrader 5. Collaborations such as ZuluTrade open avenues for copy trading with ease. Although IC Markets doesn't have a proprietary platform, it compensates by offering a free virtual demo account that helps new and seasoned traders alike to practice without risk.
FxPro, on the other hand, boasts its own proprietary platform alongside the common MetaTrader options, providing a unique edge for users looking for tailor-made solutions. It supports both Windows-based and web-based trading, ensuring broad accessibility. FxPro also supports copy trading, making it easy to mimic successful strategies. While it doesn't partner with ZuluTrade, its array of 25 drawing tools for charting and a 6-column watchlist enrich the analytical experience. Both IC Markets and FxPro secure a strong four-star rating for their platforms and tools, ranked closely at #16 and #17 respectively by ForexBrokers.com, highlighting their commitment to superior trading environments.
| 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.
Both IC Markets and FxPro offer comprehensive mobile trading apps available on iPhone and Android devices, providing users with convenient access to stock and forex markets. They both support features like price alerts and real-time watchlists, making it easier to stay updated on market movements. However, a key difference lies in their ability to sync watchlist symbols between the mobile app and online accounts; FxPro supports this feature, while IC Markets does not. This means that users of FxPro can seamlessly transition between devices without losing their customized watchlists.
When it comes to charting capabilities, FxPro stands out, offering 65 technical studies compared to IC Markets' 30. Both brokers allow users to draw trendlines and view charts across multiple time frames, with auto-save functions for drawings in place. In terms of ratings, FxPro edges slightly ahead, receiving a 4.5-star rating for its mobile trading apps, compared to 4 stars for IC Markets. This is also reflected in their rankings by ForexBrokers.com, where FxPro is positioned at #15 out of 62 brokers, while IC Markets sits at #22. Overall, FxPro appears to offer a slightly more advanced mobile trading 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.
When comparing the market research offerings of IC Markets and FxPro, both brokers provide daily market commentary and forex news from respected sources like Bloomberg and Reuters. They each offer sentiment-based trading tools that display the ratio of long to short positions across various instruments and maintain comprehensive economic calendars. However, IC Markets further enhances its research tools with offerings from Autochartist and Trading Central, while FxPro lacks tools from Autochartist but does make use of Trading Central resources.
Neither broker provides market research from TipRanks or Acuity Trading. Both IC Markets and FxPro are evaluated as having solid research capabilities, each earning a 4-star rating. However, IC Markets edges out a slightly higher standing, ranking 23rd among 62 brokers on ForexBrokers.com in the Research category, whereas FxPro ranks 26th. This comparison highlights their strengths and differences, helping traders choose based on their specific research needs.
| 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.
For those new to the world of trading, understanding the educational resources offered by different online brokers can be crucial. IC Markets provides a promising array of learning materials for beginners. It not only includes a variety of educational pieces like articles and videos focused on forex and CFDs but also offers monthly live webinars for interactive learning. Moreover, users can access a searchable archive of past webinars to learn at their convenience. These features make it an attractive option for traders looking for comprehensive educational support.
FxPro, on the other hand, offers a solid selection of educational materials, including articles and videos tailored for beginners. While they also have a searchable archive of recorded webinars, they do not provide live monthly webinars, which might be a consideration for those who value real-time learning opportunities. Additionally, while both brokers have beginner-friendly video content, IC Markets extends its offerings to advanced-level videos, which can be beneficial for traders seeking to deepen their knowledge over time. Both brokers boast an investor dictionary with ample definitions, yet IC Markets slightly edges out FxPro in rankings and features offered, positioning it as a slightly more well-rounded choice for educational resources.
| 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 62 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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