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.
IC Markets and FxPro are both well-established online brokers, with IC Markets being founded in 2007 and FxPro in 2006. Neither broker is publicly traded or operates as a bank, maintaining their focus strictly on delivering trading services. In terms of regulatory oversight, both brokers hold two Tier-1 licenses, which are regarded as highly trusted. Additionally, FxPro holds one Tier-2 license, enhancing its regulatory credentials further.
When it comes to trust scores, ForexBrokers.com rates IC Markets with a Trust Score of 84, categorizing it as trusted. Meanwhile, FxPro scores a 90, distinguishing it as highly trusted according to the same source. These ratings indicate that both brokers are considered fairly reliable, with FxPro having a slight edge in trustworthiness.
| Feature |
IC Markets
|
FxPro
|
|---|---|---|
| Year Founded | 2007 | 2006 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| 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 offer extensive options for trading platforms and tools that cater to different trader preferences and levels. Both brokers provide free virtual demo accounts, making them accessible for beginners looking to practice trading strategies without financial risk. However, FxPro boasts a unique advantage with its own proprietary platform, providing a tailored trading experience, whereas IC Markets offers popular third-party platforms like MetaTrader 4 and 5. The desktop and web-based platforms provided by both brokers ensure flexibility, allowing traders to choose their preferred method of access whether they are at home or on the go.
When it comes to charting tools, IC Markets offers fewer drawing options compared to FxPro, with 15 and 25 tools respectively. This can be critical for traders who rely heavily on technical analysis. Moreover, IC Markets stands out with the feature to trade directly from stock charts and supports ZuluTrade for those interested in copy trading, which FxPro does not. Despite these differences, both brokers receive a commendable four-star rating for their trading platforms and tools, with IC Markets ranked slightly higher by ForexBrokers.com. With IC Markets offering more columns for watch lists and consistently high rankings, it might be slightly more appealing for those who demand detailed customization and extensive tools.
| 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 evaluating the market research support from IC Markets and FxPro, both brokers offer valuable resources to their users. They provide daily market commentary and access to top-tier forex news from sources like Bloomberg and Reuters, essential for keeping traders informed. Furthermore, they both supply tools from Trading Central, assisting traders with in-depth technical analytics. A sentiment-based trading tool, showing a ratio of long or short positions across currency pairs, is also available from both brokers, catering to those interested in gauging market sentiment. Additionally, each platform furnishes an economic calendar to keep traders updated on global news events, a critical feature for making informed trading decisions.
However, IC Markets has an edge in offering technical analysis or research tools from Autochartist, which is not available with FxPro. Neither broker provides market research services from TipRanks or Acuity Trading, possibly leaving room for improvement in that area. Both brokers received a 4-star rating for research, indicating strong performance, though there’s a slight competitive edge for IC Markets, ranked 23rd against FxPro's 27th position out of 62 brokers in the research category, according to ForexBrokers.com. This slight difference might influence those prioritizing thorough market research tools when choosing a trading platform.
| 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.
When it comes to educational resources for beginners, both IC Markets and FxPro provide more than enough content to start learning about forex or CFDs, offering at least 10 pieces such as articles and videos. Additionally, IC Markets stands out by hosting monthly online educational webinars for their clients, whereas FxPro does not offer this feature. Both brokers maintain a searchable archive of recorded webinars, which is useful for those who prefer learning at their own pace.
In addition to covering beginner topics, IC Markets provides a comprehensive selection of advanced educational videos, catering to experienced traders looking to deepen their knowledge. FxPro, on the other hand, offers beginner-level videos but does not extend the same depth for advanced traders. Both brokers offer dictionaries with over 50 investing terms, aiding traders in understanding complex jargon. Despite their differences, both IC Markets and FxPro share a similar education rating of four stars, with IC Markets slightly edging out FxPro in ranking by ForexBrokers.com.
| 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 | 90 |
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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 | 90 | |
| 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 | 90 | |
| Year Founded | 2007 | 2006 | |
| 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 | 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 | 90 | |
| Winner | check_circle | ||
| Review | IC Markets Review | FxPro Review |
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