Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers 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.
Interactive Brokers and FP Markets are two well-known online brokers, each with its own strengths in the finance world. Founded in 1977, Interactive Brokers stands out with a high Trust Score of 99 from ForexBrokers.com, signifying a highly trusted status. It's a publicly traded company, backed by 9 Tier-1 licenses and 2 Tier-2 licenses, marking its strong regulatory standing. Although it is not a bank, its extensive regulation and public trading status contribute to its reliability in the eyes of investors.
FP Markets, on the other hand, was established in 2005 and holds a Trust Score of 89, which places it in the trusted category. While it is not publicly traded and holds fewer licenses—2 Tier-1 and 1 Tier-2—compared to Interactive Brokers, it remains a trusted choice due to its solid regulatory framework. Both brokers share the similarity of not being banks, yet they maintain trust within their realms through different paths, providing investors with dependable online trading platforms.
| Feature |
Interactive Brokers
|
FP Markets
|
|---|---|---|
| Year Founded | 1977 | 2005 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 2 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Interactive Brokers and FP Markets both stand out for their competitive commissions and fees in the forex trading arena, each earning a top rating of five stars. Interactive Brokers is particularly notable for its pricing strategy, offering forex traders competitive rates without marking up spreads. Commissions for forex trades start at 0.00002 (0.2 basis points) of the U.S. dollar trade value, with a minimum charge of $2 per order. This can be reduced to as low as 0.08 basis points for highly active traders. This approach, along with the ability to handle large orders efficiently, has secured Interactive Brokers the #2 rank out of 62 brokers in the Commissions and Fees category, according to ForexBrokers.com.
FP Markets also offers attractive pricing options, especially with their commission-based Raw ECN account. The Raw ECN account features spreads averaging 0.1 pips, or 0.8 pips all-in after commission, which is popular among traders seeking low-cost transactions. Contrastingly, their Standard account has higher spreads at an average of 1.1 pips. FP Markets has been acknowledged for its competitive pricing strategies and was awarded Best in Class for Commissions and Fees in 2024. With these offerings, FP Markets ranks #6 on ForexBrokers.com for Commissions and Fees, underscoring its standing as a globally cost-effective choice.
In summary, both Interactive Brokers and FP Markets provide traders with strong options for competitive trading fees. Their highly rated commission structures make them appealing choices for different kinds of forex traders, from those making smaller transactions to active traders handling significant volumes. Whether you prioritize lower spreads or flexible pricing models, each broker has its unique strengths, earning both high rankings and five-star ratings in this crucial category.
| Feature |
Interactive Brokers
|
FP Markets
|
|---|---|---|
| Minimum Deposit | $0 | $100 AUD |
| Average Spread EUR/USD - Standard | 0.59 | 1.2 |
| All-in Cost EUR/USD - Active | 0.59 | 0.7 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Interactive Brokers and FP Markets are two prominent players in the online brokerage world, each offering a variety of investment opportunities. Interactive Brokers provides a vast selection of 8,500 tradeable symbols, compared to FP Markets' 10,000, along with 90 forex pairs versus FP Markets' 71 pairs. Both brokers allow for forex trading as a CFD or spot contract. However, a key difference lies in their offerings on exchange-traded securities; Interactive Brokers allows purchasing shares from both U.S. and international exchanges like Apple and Vodafone, something FP Markets does not offer. Additionally, Interactive Brokers supports buying actual cryptocurrencies directly, whereas FP Markets specializes in cryptocurrency derivatives only.
In terms of investment services, FP Markets stands out with its copy trading feature, an option Interactive Brokers does not provide. This uniqueness might cater to traders interested in mirroring successful strategies. Despite these differences, Interactive Brokers leads with a five-star rating in the range of investments, closely followed by FP Markets at 4.5 stars. Notably, Interactive Brokers is ranked first by ForexBrokers.com in the Range of Investments category, while FP Markets holds the 18th position, underscoring Interactive Brokers' extensive and varied investment offerings.
| Feature |
Interactive Brokers
|
FP Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 10000 |
| Forex Pairs (Total) | 90 | 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) | Yes | 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.
When comparing Interactive Brokers and FP Markets for their trading platforms and tools, both brokers offer a comprehensive suite of features including simulated trading accounts and proprietary platforms. They cater to desktop users with Windows-based platforms and extend accessibility through web-based options. However, FP Markets takes a lead for traders interested in copy trading, as it supports this feature while Interactive Brokers does not. Furthermore, FP Markets supports popular third-party platforms like MetaTrader 4 and MetaTrader 5, offering additional flexibility and tools that Interactive Brokers lacks.
Interactive Brokers excels with an impressive array of charting tools, offering 85 drawing tools compared to FP Markets’ 17, paired with a substantial 659 watchlist fields versus FP Markets’ 7. Its platform is highly acclaimed, receiving a 5-star rating for trading platforms and tools and ranking third out of 62 brokers according to ForexBrokers.com. In comparison, FP Markets earns a solid 4-star rating and stands at the 23rd spot in the same category rankings. This highlights Interactive Brokers’ superior overall suite of platform functionalities for traders seeking a rich, detailed trading experience.
| Feature |
Interactive Brokers
|
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) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 30 |
| Charting - Drawing Tools (Total) | 85 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Interactive Brokers and FP Markets offer comprehensive iPhone and Android apps, allowing traders to stay connected and manage their accounts on the go. Both platforms provide stock and forex price alerts and allow you to draw trendlines and view multiple time frames on their charts. However, Interactive Brokers' app enhances user experience with the syncing of watchlist symbols between mobile and online accounts, a feature not found in FP Markets' app. Additionally, Interactive Brokers offers an impressive 97 technical studies for charting, providing detailed analysis tools directly within the app, whereas FP Markets relies on the default options of the MetaTrader app. While neither app offers auto-saving for drawings, FP Markets has integrated this convenience.
In terms of creating watchlists with real-time quotes, both apps deliver this essential feature, ensuring you have immediate access to the latest market data. When it comes to ratings, Interactive Brokers outshines FP Markets with a five-star rating for its mobile trading app, compared to FP Markets' four stars. Furthermore, Interactive Brokers is highly ranked at number four out of 62 brokers on ForexBrokers.com, showcasing its excellence in mobile trading. FP Markets, while still solid, is ranked at number 18, indicating room for growth in meeting traders' mobile needs.
| Feature |
Interactive Brokers
|
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 | 97 | MetaTrader (Default) |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Interactive Brokers and FP Markets both provide daily market commentary and access to forex news from reputable sources such as Bloomberg, Reuters, and Dow Jones. While both brokers integrate Trading Central's technical analysis tools and offer sentiment-based trading tools, FP Markets additionally features technical tools from Autochartist, setting it apart in this area. However, Interactive Brokers surpasses FP Markets by providing research tools from Acuity Trading and market insights via TipRanks, enhancing their research offerings.
Both brokers include comprehensive economic calendars that keep traders informed on global events. Interactive Brokers garners a perfect 5-star rating for research and holds the impressive rank of third among 62 brokers according to ForexBrokers.com. In contrast, FP Markets earns a commendable 4-star rating but ranks 25th. With its extensive array of research tools and higher rankings, Interactive Brokers presents a stronger option for those seeking comprehensive market analysis.
| Feature |
Interactive Brokers
|
FP Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | 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.
Interactive Brokers and FP Markets both provide a wealth of educational resources aimed at helping new investors navigate the world of trading. Both platforms offer more than ten educational pieces focused on forex or CFDs, which include articles, videos, and archived webinars. Additionally, they each host monthly online educational webinars to further support ongoing learning, with searchable archives available for review at any time. For beginners, Interactive Brokers and FP Markets deliver a solid selection of videos covering trading basics, which makes them accessible to those just starting out.
While both brokers offer resources for more advanced traders, such as at least ten advanced educational videos and comprehensive investor dictionaries with over fifty terms defined, there are differences in how they're rated. Interactive Brokers has earned a 5-star rating for education and is ranked third among 62 brokers by ForexBrokers.com. On the other hand, FP Markets holds a 4-star rating and lands in the 23rd position. This distinction highlights Interactive Brokers as a standout choice for those prioritizing educational content in their trading journey, although both brokers present strong offerings.
| Feature |
Interactive Brokers
|
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 Interactive Brokers is better than FP Markets. Interactive Brokers finished with an overall rank of #2, while FP Markets finished with an overall rank of #19.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
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FP Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 89 |
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Interactive Brokers provides the option to purchase actual delivered cryptocurrency and trade cryptocurrency derivatives, whereas FP Markets only offers trading in cryptocurrency derivatives without the option to buy the actual underlying cryptocurrency.
Interactive Brokers supports ACH and SEPA transfers, as well as bank wire transactions for depositing and withdrawing funds, while FP Markets offers PayPal, Skrill, Visa or Mastercard, and bank wire options for account fund management.
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 | Interactive Brokers | FP Markets | |
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| Trust Score | 99 | 89 | |
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| Review | Interactive Brokers Review | FP Markets Review |
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| Regulation | Interactive Brokers | FP Markets | |
|---|---|---|---|
| Trust Score | 99 | 89 | |
| Year Founded | 1977 | 2005 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 2 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | FP Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | 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) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | FP Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | FP Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 10000 | |
| Forex Pairs (Total) | 90 | 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) | Yes | 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 | Interactive Brokers | FP Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.59 | 0.7 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | FP Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 AUD | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Interactive Brokers | FP Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | FP Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 7 | |
| Charting - Indicators / Studies (Total) | 155 | 30 | |
| Charting - Drawing Tools (Total) | 85 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | 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 | 97 | MetaTrader (Default) | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | FP Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers Review | FP Markets Review |
| Overall | Interactive Brokers | FP Markets | |
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| Trust Score | 99 | 89 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | FP Markets Review |
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