Written by ForexBrokers.com
In this head to head comparison of FP Markets vs IC Markets, 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 and IC Markets stand out in the online trading world with their solid regulatory credentials and trust ratings. Founded in 2005, FP Markets has established itself with two top-level Tier-1 licenses and a Tier-2 license, leading to a notable trust score of 89. Although it isn't publicly traded or a bank, its licensing and trust score put it in the "trusted" category, making it a reliable choice for traders.
Meanwhile, IC Markets, founded in 2007, holds two Tier-1 licenses, reflecting its strong regulatory standing. With a ForexBrokers.com trust score of 84, it remains a trusted platform, although slightly behind FP Markets in terms of score. Like its competitor, IC Markets is not publicly traded nor operates as a bank, but it maintains confidence among traders through its regulatory compliance. Both brokers offer a trusted environment, but FP Markets holds a slight edge in trust score and licensing diversity.
| Feature |
FP Markets
|
IC Markets
|
|---|---|---|
| Year Founded | 2005 | 2007 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
FP Markets and IC Markets are two well-regarded online brokers known for their competitive trading costs, especially for commission-based accounts. FP Markets ranks #6 among 62 brokers and is recognized as Best in Class for Commissions and Fees in 2024, earning a 5-star rating. It offers a choice between a Standard account with higher spreads and a cost-effective Raw ECN account averaging 0.1 pips (0.8 pips all-in). Additional options include a commission-based cTrader account at $6 per standard lot round turn. Australian Iress ViewPoint accounts cater to high-balance accounts with various deposit tiers, but associated costs may be prohibitive for some traders.
IC Markets, rating 5 stars and ranking #5, also excels in Commissions and Fees with a variety of account types, including the commission-free Standard account and the commission-based Raw Spread and cTrader Raw Spread accounts. It offers highly competitive spreads, such as an average 0.02 pips on the EUR/USD for the cTrader account, bringing the total all-in to a competitive 0.62 pips. The MetaTrader Raw Spread account, slightly higher in cost at 0.72 pips all-in, remains attractive for traders valuing low trading costs and ease of use. Active traders enjoy discounts for trading over 100 standard lots per month.
Both brokers, rated 5 stars for their fees and commissions, provide substantial value for traders seeking cost-effective services. While FP Markets offers diversity through accounts tailored to different levels of trading activity and balance, IC Markets impresses with its competitive spread offerings and flexible platform choices. Their ranking positions highlight their leading roles in the industry, providing traders with peers in low-cost trading environments.
| Feature |
FP Markets
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $100 AUD | $200 |
| Average Spread EUR/USD - Standard | 1.2 | 0.62 |
| All-in Cost EUR/USD - Active | 0.7 | 0.62 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| 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 FP Markets and IC Markets in terms of the variety of investments they offer, both providers allow forex trading through CFDs or spot contracts. FP Markets stands out with its impressive array of 10,000 tradeable symbols, including 71 forex pairs, which surpasses the 3,583 symbols and 61 forex pairs available at IC Markets. While neither broker provides direct access to U.S. exchange-traded securities like shares of Apple, IC Markets does offer exchange-traded securities on international exchanges, such as Vodafone on the London Stock Exchange, a feature absent from FP Markets. Both platforms also support copy trading, presenting another opportunity for investors to diversify their strategies.
In the realm of cryptocurrency, FP Markets and IC Markets both enable trading in cryptocurrency derivatives, but neither offers direct purchases of actual cryptocurrencies. For their range of investment options, both brokers receive a rating of 4.5 stars. However, FP Markets holds a higher rank, coming in at #18 in the Range of Investments category according to ForexBrokers.com, compared to IC Markets’ position at #25. This ranking suggests a slight edge for FP Markets in terms of the breadth and potential variety of its investment products.
| Feature |
FP Markets
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 3583 |
| Forex Pairs (Total) | 71 | 61 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | 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.
FP Markets and IC Markets both offer a comprehensive suite of trading platforms and tools, catering to traders who seek flexibility and choice. Both brokers provide free virtual demo accounts, allowing users to simulate trades without financial risk. While IC Markets does not offer a proprietary platform, FP Markets does, enriching their trading solutions with a unique in-house option. Both companies support popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5) on desktop and web-based versions. Moreover, copy trading is available with both brokers, though IC Markets extends its reach with support for ZuluTrade. Both brokers provide the ability to trade directly from stock charts, but if chart drawing tools are important, FP Markets offers a slight edge with 17 available tools compared to IC Markets' 15.
Regarding watch list customization, both FP Markets and IC Markets enable users to create lists with up to seven columns. According to ForexBrokers.com ratings, both brokers receive a solid 4-star rating for their trading platforms and tools, underscoring their commitment to providing quality services. However, in rankings, IC Markets emerges slightly ahead at #17 out of 62 brokers, compared to FP Markets, which ranks #23. This slight advantage might make IC Markets a preferable option for traders who rely heavily on third-party integrations like ZuluTrade, while FP Markets stands out for those valuing a broker-exclusive platform experience.
| Feature |
FP Markets
|
IC Markets
|
|---|---|---|
| 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 | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| 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.
Both FP Markets and IC Markets offer iPhone and Android apps, catering to traders on the go. Traders can receive stock and forex price alerts via both apps, ensuring they stay updated with the latest market movements. However, neither broker provides a feature to sync watchlists across devices. FP Markets users can work with MetaTrader's default technical studies, while IC Markets offers 30 different technical studies for charting. Both apps support drawing trendlines, viewing various time frames, and automatically saving drawings on stock or forex charts. Real-time watchlists are also supported in both mobile applications.
Despite offering similar features, FP Markets edges slightly ahead in terms of rankings; it holds the 18th spot compared to IC Markets' 22nd place in the Mobile Trading Apps category by ForexBrokers.com. Both apps receive a solid rating of 4 out of 5 stars for mobile trading, showcasing their reliability and functionality for traders looking to manage their investments from their smartphones.
| Feature |
FP Markets
|
IC Markets
|
|---|---|---|
| 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.
FP Markets and IC Markets both deliver comprehensive market research tools and resources, catering to traders of all levels. Both brokers provide daily market commentary and offer forex news from reputable sources like Bloomberg and Reuters. They excel in providing technical analysis and fundamental research tools from companies such as Autochartist and Trading Central, which help traders make informed decisions. Additionally, both brokers include a sentiment-based trading tool, allowing users to view long or short position ratios across various instruments.
While FP Markets and IC Markets do not offer market research from TipRanks or tools from Acuity Trading, they do provide an economic calendar detailing significant global events. Both brokers are highly rated in research, each earning 4 out of 5 stars. However, in terms of research rankings by ForexBrokers.com, IC Markets holds a slight edge at #22, compared to FP Markets' rank of #25 out of 62 brokers. Despite this difference, both brokers offer extensive resources to help traders navigate the markets effectively.
| Feature |
FP Markets
|
IC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| 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.
FP Markets and IC Markets both excel at providing educational resources tailored to beginners in the world of forex and CFDs. Each offers a comprehensive selection of over ten educational pieces, including articles, videos, and archived webinars that cover essential trading concepts. Both brokers conduct monthly online educational webinars, ensuring beginner traders have access to the latest insights and strategies. Additionally, these sessions are recorded and stored in a searchable archive, giving beginners the opportunity to revisit past topics at their leisure.
When it comes to videos, each broker provides a valuable library of at least ten beginner-focused tutorials, alongside another set for more advanced traders. Along with this, both FP Markets and IC Markets offer investor dictionaries containing definitions of over 50 investing terms, making complex jargon more accessible. Although both brokers are rated equally with four stars for their educational offerings, IC Markets has a slight edge in ranking, positioned at #16 compared to FP Markets at #23 by ForexBrokers.com, out of a total of 62 brokers evaluated in this category.
| Feature |
FP Markets
|
IC Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 FP Markets is better than IC Markets. FP Markets finished with an overall rank of #19, while IC Markets finished with an overall rank of #20.
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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IC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 84 |
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Both FP Markets and IC Markets do not offer the ability to buy actual delivered cryptocurrency, but they both provide the option to trade cryptocurrency derivatives.
Both FP Markets and IC Markets provide several deposit and withdrawal options, including PayPal, Skrill, Visa, Mastercard, and bank wires, but neither supports 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 | FP Markets | IC Markets | |
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| Trust Score | 89 | 84 | |
| Winner | check_circle | ||
| Review | FP Markets Review | IC Markets Review |
| Broker Screenshots | FP Markets | IC Markets | |
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| Regulation | FP Markets | IC Markets | |
|---|---|---|---|
| Trust Score | 89 | 84 | |
| Year Founded | 2005 | 2007 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 3 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | IC Markets | |
|---|---|---|---|
| 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 | No | |
| 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 | IC Markets | |
|---|---|---|---|
| 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 | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 3583 | |
| Forex Pairs (Total) | 71 | 61 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | 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 | FP Markets | IC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 0.62 | |
| All-in Cost EUR/USD - Active | 0.7 | 0.62 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | IC Markets | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $200 | |
| 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 | No |
| Trading Platforms | FP Markets | IC Markets | |
|---|---|---|---|
| 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 | Yes | |
| cTrader | Yes | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | FP Markets | IC Markets | |
|---|---|---|---|
| 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 | IC Markets | |
|---|---|---|---|
| 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 | IC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | IC Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FP Markets | IC Markets | |
|---|---|---|---|
| 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 | IC Markets Review |
| Overall | FP Markets | IC Markets | |
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| Trust Score | 89 | 84 | |
| Winner | check_circle | ||
| Review | FP Markets Review | IC Markets Review |
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