Written by ForexBrokers.com
In this head to head comparison of FP Markets vs IronFX, 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, established in 2005, and IronFX, which started in 2010, are both online brokers that cater to traders looking for reliable platforms. Neither FP Markets nor IronFX is publicly traded or operates as a bank. FP Markets holds two highly trusted Tier-1 licenses and one trusted Tier-2 license, resulting in a Trust Score of 89 from ForexBrokers.com. This places FP Markets in the trusted category.
In comparison, IronFX has a slightly lower Trust Score of 83, as it holds three highly trusted Tier-1 licenses but lacks Tier-2 licenses. While both brokers enjoy a strong reputation, FP Markets holds a slight edge in trustworthiness with its higher score and additional licensing. Traders evaluating these brokers will find that FP Markets is slightly more trusted, although IronFX also presents a reliable option in the online trading arena.
| Feature |
FP Markets
|
IronFX
|
|---|---|---|
| Year Founded | 2005 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
FP Markets stands out as a top choice for traders seeking low commissions and fees, earning a 5-star rating and ranking 6th out of 62 brokers according to ForexBrokers.com. This broker provides highly competitive pricing with its MetaTrader and cTrader platforms, particularly through its commission-based Raw ECN account. Traders can enjoy spreads averaging as low as 0.1 pips. If using the cTrader platform, the flat rate commission for forex trading is $6 per round-turn standard lot. Conversely, the Standard account offers wider spreads, averaging 1.1 pips for EUR/USD pair, which makes it a less economical option. For those trading share CFDs, FP Markets’ Iress platform offers Direct Market Access, although this service is tailored for high-balance accounts and comes with additional fees unless specific trading criteria are met.
IronFX, receiving a 4-star rating and ranking 47th for commissions and fees, has some room for improvement. Its Standard variable spread account lists a typical spread of 1.8 pips, but the spreads can vary across different account types, lacking a specified date range for accuracy. The zero fixed-spread account attracts a fixed commission of $18 per lot, which could deter cost-conscious traders. Additionally, spreads in this account can widen to 3 pips overnight, adding to potential costs for traders who hold positions for longer periods.
| Feature |
FP Markets
|
IronFX
|
|---|---|---|
| Minimum Deposit | $100 AUD | $50 |
| Average Spread EUR/USD - Standard | 1.2 | 1.2 |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FP Markets and IronFX both offer forex trading as CFDs or spot contracts, catering to investors interested in currency markets. However, FP Markets stands out with an impressive selection of over 10,000 tradeable symbols, compared to IronFX's offering of 340 symbols. When focusing on forex pairs, IronFX holds a slight edge with 83 available pairs, while FP Markets provides 71. Neither platform offers direct trading of exchange-traded securities on U.S. or international exchanges, such as buying shares in companies like Apple or Vodafone.
Despite the absence of direct cryptocurrency purchasing options, both FP Markets and IronFX allow trading in cryptocurrency derivatives. Each platform supports copy trading, providing tools for users to replicate successful trading strategies. In terms of range and variety, FP Markets receives a higher rating with 4.5 stars, ranking 18th out of 62 brokers analyzed by ForexBrokers.com. IronFX, on the other hand, garners 3.5 stars and ranks 51st, indicating a narrower investment offering compared to FP Markets.
| Feature |
FP Markets
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 340 |
| Forex Pairs (Total) | 71 | 83 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| 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.
When comparing FP Markets and IronFX in terms of trading platforms and tools, both brokers provide a broad range of options. They each offer simulated trading with free virtual demo accounts, as well as Windows-based desktop download and web-based trading platforms for ease of access. FP Markets sets itself apart by offering a proprietary platform developed in-house, while IronFX focuses on partnering with third-party software. Both brokers support copy trading and the popular MetaTrader 4 (MT4) platform; however, FP Markets additionally provides the MetaTrader 5 (MT5) platform for traders seeking more advanced capabilities.
FP Markets and IronFX differ in their charting and analysis tools. FP Markets offers 17 drawing tools for enhanced charting techniques, slightly edging out IronFX, which provides 15. Both brokers facilitate trading directly from stock charts, providing a seamless trading experience. Their watch lists are equally comprehensive, with both offering seven columns. In terms of ratings, FP Markets is awarded 4 stars for its trading platforms and tools, ranking 23rd out of 62 brokers according to ForexBrokers.com. Conversely, IronFX is rated 3.5 stars and is ranked 60th, indicating FP Markets may appeal more to traders looking for versatile and highly-rated trading tools.
| Feature |
FP Markets
|
IronFX
|
|---|---|---|
| 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 | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| 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 IronFX offer mobile trading apps for iPhone and Android devices, ensuring accessibility for traders on the go. Users can set up stock and forex price alerts and can create watchlists with real-time quotes on both platforms. However, neither broker supports syncing watchlists directly between the mobile app and the online account, which might be a consideration for traders looking for seamless integration.
When it comes to technical features, FP Markets uses the default MetaTrader mobile app, while IronFX offers 30 technical studies for its charting tools. Both apps allow users to draw trendlines, view multiple time frames for charts, and auto-save any drawings. While IronFX is a solid choice, FP Markets receives a higher mobile trading app rating with 4 stars compared to IronFX's 3.5 stars. This difference is reflected in their rankings by ForexBrokers.com, where FP Markets is ranked #18, significantly ahead of IronFX at #61 out of 62 brokers.
| Feature |
FP Markets
|
IronFX
|
|---|---|---|
| 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.
When it comes to market research, both FP Markets and IronFX provide daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters, ensuring traders stay informed with reliable updates. However, FP Markets edges slightly ahead by offering more comprehensive tools. Traders at FP Markets can benefit from technical analysis tools provided by Autochartist and Trading Central, along with a sentiment-based tool that shows the ratio of long or short positions across currency pairs. In contrast, IronFX supports technical tools from Trading Central but lacks the offerings of Autochartist and sentiment-based trading instruments.
Both brokers offer economic calendars to help traders keep track of global news events. Despite these similarities, the subtle differences in their research tools contribute to distinctive experiences for users. With a research rating of four out of five stars for both brokers, FP Markets ranks slightly higher at #25, whereas IronFX sits at #28 according to ForexBrokers.com. These rankings indicate that while both platforms are valuable resources for traders, FP Markets provides a slightly more enhanced research environment.
| Feature |
FP Markets
|
IronFX
|
|---|---|---|
| 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 | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners at FP Markets and IronFX, both online brokers provide a rich collection of educational materials, including articles, videos, and archived webinars focusing on forex and CFDs. FP Markets elevates its educational offerings by hosting monthly live webinars, an option not available with IronFX. Both brokers offer a searchable archive of past webinars, allowing learners to revisit valuable sessions at their convenience.
For those just starting out, FP Markets provides a spectrum of at least 10 beginner-friendly videos, mirrored by IronFX. However, FP Markets also caters to advanced users with specialized educational videos, an aspect where IronFX falls short. Both brokers include an investor dictionary with over 50 definitions, aiding in the understanding of trading terms. Overall, FP Markets achieves a higher educational ranking, placing #23 out of 62 brokers, while IronFX is positioned at #44. Both are awarded 4 out of 5 stars for their educational resources, yet FP Markets seems to offer a more comprehensive learning path for those diving into trading.
| Feature |
FP Markets
|
IronFX
|
|---|---|---|
| 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 FP Markets is better than IronFX. FP Markets finished with an overall rank of #19, while IronFX finished with an overall rank of #48.
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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IronFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 83 |
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Both FP Markets and IronFX do not offer the option to buy actual (delivered) cryptocurrency, but they do provide the ability to purchase cryptocurrency derivatives.
While both FP Markets and IronFX provide options for depositing or withdrawing account funds using Skrill, Visa/Mastercard, and bank wires, FP Markets also supports PayPal transfers, unlike IronFX, but neither broker offers ACH or SEPA transfer methods.
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 | IronFX | |
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| Trust Score | 89 | 83 | |
| Winner | check_circle | ||
| Review | FP Markets Review |
| Broker Screenshots | FP Markets | IronFX | |
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| Regulation | FP Markets | IronFX | |
|---|---|---|---|
| Trust Score | 89 | 83 | |
| Year Founded | 2005 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | IronFX | |
|---|---|---|---|
| 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 | 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) | FP Markets | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 340 | |
| Forex Pairs (Total) | 71 | 83 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| 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 | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | IronFX | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | No | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| 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 | No | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | IronFX | |
|---|---|---|---|
| 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 | FP Markets | IronFX | |
|---|---|---|---|
| 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 |
| Overall | FP Markets | IronFX | |
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| Trust Score | 89 | 83 | |
| Winner | check_circle | ||
| Review | FP Markets Review |
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