Written by ForexBrokers.com
In this head to head comparison of IG vs FP 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.
IG, established in 1974, stands out as a reliable online broker, achieving the highest Trust Score of 99 on ForexBrokers.com. As a publicly traded company and a bank, IG demonstrates strong stability and credibility in the financial market. It also boasts eight highly trusted Tier-1 licenses and two trusted Tier-2 licenses. This comprehensive regulatory framework underscores IG's position as a highly secure option for traders.
FP Markets, founded in 2005, is not publicly traded nor a bank, yet it retains a commendable Trust Score of 89, categorized as trusted by ForexBrokers.com. The broker holds two Tier-1 and one Tier-2 licenses, ensuring a reliable level of trust and security for its clients. While it may not match IG's extensive regulatory credentials, FP Markets remains a respected choice for traders seeking dependable service.
| Feature |
IG
|
FP Markets
|
|---|---|---|
| Year Founded | 1974 | 2005 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 2 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the commissions and fees of IG and FP Markets, both brokers earn top marks, with a 5-star rating each. However, they cater to different trading needs. IG, ranked #8 by ForexBrokers.com, excels with its Forex Direct accounts, offering active trader pricing and effective spreads averaging around 0.82 pips in July 2023. The broker's ability to execute large orders and its variety of active-trader rebate programs are particularly appealing for high-volume traders. For example, rebates can cut all-in costs by up to 20%, making the spreads as low as 0.60 pips. Additionally, the DMA account requires a £1,000 minimum deposit, offering competitive spreads by allowing access to advanced pricing tiers based on trading volume.
FP Markets, ranked slightly higher at #6, is well-regarded for its commission-based Raw ECN account, which features ultra-competitive spreads averaging 0.1 pips, making it a leader in cost-effectiveness. This results in an all-in cost of 0.8 pips. While its standard account is more expensive with spreads averaging 1.1 pips, traders can benefit from the versatility of its MetaTrader and cTrader platforms. Moreover, FP Markets' Iress platform offers various account types, such as Standard and Platinum, to suit different trader profiles, though costs can add up without sufficient trade volume or a high account balance. Still, it's among the best choices for traders focused on commissions and fees.
In summary, while both IG and FP Markets deliver competitive pricing, IG shines for its well-rounded offerings suited for high-volume and active traders. Meanwhile, FP Markets stands out for its exceptional value in its Raw ECN account and its diverse trading platform options, making it a choice pick for traders globally who prioritize low costs and flexibility in their trading strategies.
| Feature |
IG
|
FP Markets
|
|---|---|---|
| Minimum Deposit | £250.00 | $100 AUD |
| Average Spread EUR/USD - Standard | 0.98 | 1.2 |
| All-in Cost EUR/USD - Active | 0.82 | 0.7 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the investment offerings of IG and FP Markets, both platforms provide a comprehensive selection, yet IG tends to stand out with a broader range. IG offers a staggering 19,537 tradeable symbols, significantly surpassing FP Markets' 10,000. For those interested in forex trading, IG provides 97 pairs versus FP Markets' 71. Moreover, IG distinguishes itself by allowing clients to trade exchange-traded securities on both U.S. and international exchanges, such as Apple and Vodafone shares, a feature not available with FP Markets. However, FP Markets does offer copy trading, which might appeal to those looking to follow successful strategies from other traders.
Both brokers offer forex trading as CFDs and cryptocurrency derivatives, albeit they do not provide the option to buy actual cryptocurrencies. In terms of range of investments, IG has a slight edge, boasting a 5-star rating and a #4 rank out of 62 brokers by ForexBrokers.com. FP Markets is also highly rated with 4.5 stars and holds the #18 position. While both brokers offer diverse options for various investment styles, the choice between IG and FP Markets may depend on your specific trading needs and preferences.
| Feature |
IG
|
FP Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 10000 |
| Forex Pairs (Total) | 97 | 71 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | 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.
IG and FP Markets both offer excellent trading platforms and tools, appealing to many online traders. Both brokers provide free virtual demo accounts that allow users to practice trading without financial risk. Traders will find proprietary platforms developed in-house alongside support for MetaTrader 4 (MT4) on both broker sites, while only FP Markets offers MetaTrader 5 (MT5). Each broker also supports trading from a stock chart and provides Windows and web-based platforms, accommodating different user preferences and devices. However, FP Markets distinguishes itself by including copy trading, a feature missing from IG’s offerings.
When it comes to charting tools, IG offers a wider array of drawing tools with 20 options compared to FP Markets' 17. Although both brokers facilitate direct trading from charts, their watch list capabilities differ, with FP Markets offering more customization through seven columns compared to IG's five. IG earns a higher rating of five stars for its trading platforms and tools, and it's ranked second among 62 brokers by ForexBrokers.com, while FP Markets receives four stars and is positioned at number 23. This highlights IG's stronger reputation in the trading platform category, although both brokers are solid choices depending on specific trading needs.
| Feature |
IG
|
FP Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 30 |
| Charting - Drawing Tools (Total) | 20 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IG and FP Markets both offer comprehensive mobile trading apps available for iPhone and Android users, making them accessible to a wide range of traders. Both platforms provide useful features like stock and forex price alerts, the ability to draw trendlines, and multiple time frame viewing options. However, IG stands out with its watchlist symbol syncing feature, allowing changes made on the mobile app to sync seamlessly with your online account, a convenience not offered by FP Markets. When it comes to technical studies, IG includes 33 options within its app, whereas FP Markets utilizes the default settings provided by MetaTrader.
For those who value user reviews and rankings, IG's mobile app is rated at an impressive five stars, securing the top spot out of 62 brokers in the ForexBrokers.com Mobile Trading Apps category. FP Markets, while still a strong contender with a four-star rating, is ranked 18th in the same list. Both apps also support the creation of watchlists with real-time quotes and auto-save any chart drawings, ensuring an efficient and streamlined trading experience. Whether you're a beginner or a seasoned trader, these mobile apps can cater to your needs, though IG may offer additional convenience and resources for those seeking the highest-rated experience.
| Feature |
IG
|
FP Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | MetaTrader (Default) |
| 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 IG and FP Markets for market research offerings, both brokers provide daily market commentary and deliver forex news from leading sources like Bloomberg, Reuters, and Dow Jones. They also supply users with technical analysis tools from Autochartist, and both feature sentiment-based trading tools that indicate the ratio of long or short positions across various instruments. Additionally, each broker provides an economic calendar detailing global news events; however, IG takes it a step further by offering tools and insights from TipRanks and Acuity Trading, which FP Markets does not.
FP Markets does stand out by incorporating Trading Central tools such as Technical Analytics, a feature missing from IG's offerings. Though FP Markets provides robust features, IG's comprehensive range of tools and resources earns it a higher nod in research quality, rated at five stars compared to FP Markets' four stars. This distinction is echoed in rankings by ForexBrokers.com, where IG shines at second place among 62 brokers, while FP Markets holds the 25th position. This suggests that IG's market research capabilities are more highly regarded among traders.
| Feature |
IG
|
FP Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
IG and FP Markets both provide extensive educational resources for beginners interested in forex or CFDs trading. Both brokers offer a wide array of educational pieces, including articles, videos, and archived webinars focusing on forex and CFDs. Beginner traders will also find a variety of insightful videos tailored to introduce them to trading topics. If you prefer interactive learning, both IG and FP Markets host monthly webinars, and they also provide access to searchable archives of past webinars for those who wish to learn at their own pace.
Beyond beginner-focused content, IG and FP Markets ensure more advanced traders can expand their knowledge with specialized videos. An investor dictionary with over 50 terms is available at both brokers, helping users get to grips with trading terminology. When it comes to overall educational quality, IG stands out with a perfect five-star rating and holds the top spot in the education category among 62 brokers, while FP Markets still offers high-quality resources, boasting a four-star rating and ranking 23rd in the same category.
| Feature |
IG
|
FP 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 IG is better than FP Markets. IG finished with an overall rank of #1, while FP Markets finished with an overall rank of #19.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
|
FP Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 89 |
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Both IG and FP Markets provide the option to trade cryptocurrency derivatives but do not offer the ability to purchase actual delivered cryptocurrencies directly.
IG offers multiple fund transfer options, including ACH, SEPA, PayPal, Visa, Mastercard, and bank wires, while FP Markets provides flexibility with PayPal, Skrill, Visa, Mastercard, and bank wires, but lacks ACH and SEPA transfer capabilities.
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 | IG | FP Markets | |
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| Trust Score | 99 | 89 | |
| Winner | check_circle | ||
| Review | IG Review | FP Markets Review |
| Broker Screenshots | IG | FP Markets | |
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| Regulation | IG | FP Markets | |
|---|---|---|---|
| Trust Score | 99 | 89 | |
| Year Founded | 1974 | 2005 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 2 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IG | FP Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | FP Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | FP Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 10000 | |
| Forex Pairs (Total) | 97 | 71 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | 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 | IG | FP Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.7 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | FP Markets | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $100 AUD | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | IG | FP Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | FP Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 7 | |
| Charting - Indicators / Studies (Total) | 33 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | FP Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 33 | MetaTrader (Default) | |
| 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 | IG | FP Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | FP 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 | IG | FP 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 | IG Review | FP Markets Review |
| Overall | IG | FP Markets | |
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| Trust Score | 99 | 89 | |
| Winner | check_circle | ||
| Review | IG Review | FP Markets Review |
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