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.
Regulation
FP Markets (founded 2005) and IC Markets (founded 2007) are online brokers that are private companies—neither is publicly traded—and neither is a bank. Both hold two Tier-1 licenses, the highest trust category per ForexBrokers.com. FP Markets also holds one Tier-2 license, while IC Markets holds none at the Tier-2 level.
ForexBrokers.com rates FP Markets with a Trust Score of 90 (highly trusted) and IC Markets at 83 (trusted). The scale defines 90–99 as highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and below 59 not trusted. Based on these ratings and licenses, FP Markets edges ahead on overall regulatory standing.
| Feature | ||
|---|---|---|
| Year Founded info | 2005 | 2007 |
| Publicly Traded (Listed) info | No | No |
| Bank info | No | No |
| Tier-1 Licenses info | 2 | 2 |
| Tier-2 Licenses info | 1 | 0 |
| Tier-3 Licenses info | 0 | 0 |
| Tier-4 Licenses info | 2 | 3 |
Fees
If you’re choosing based on commissions and fees, both FP Markets and IC Markets are standout low-cost brokers that earned Best in Class honors in 2024. IC Markets has the edge with a 5-star rating and a #5/63 ranking for Commissions & Fees, while FP Markets earns 4.5 stars and ranks #11/63. Both support MetaTrader and cTrader with tight spreads and low commissions; the best value depends on the account type you use.
FP Markets: The commission-based Raw ECN account averaged about 0.1 pips on EUR/USD (October 2023), coming to roughly 0.8 pips all-in after its flat $6 per round turn per standard lot. The Standard account is spread-only and pricier, averaging around 1.1 pips on EUR/USD. FP Markets also offers cTrader with either the spread-only Standard setup or the same $6 RT commission on the Raw account. For share CFDs, the Iress suite delivers DMA pricing with full depth of book, but ViewPoint tiers may add platform/data fees unless you qualify for Premier or generate at least AUD 150 in monthly commissions; the Iress Investor option waives monthly fees but has pared-back features.
IC Markets: The cTrader Raw account charges $3.00 per side ($6.00 RT), while the MetaTrader Raw Spread account is $3.50 per side ($7.00 RT). IC lists an average EUR/USD spread as low as 0.02 pips; all-in costs are around 0.62 pips on cTrader Raw and 0.72 on MetaTrader Raw. Its commission-free Standard account averages about 0.62 pips and suits traders who prefer spread-only pricing. IC Markets also offers volume discounts for trading over 100 standard lots per month, and pricing can vary slightly across its European, Australian, and Seychelles entities.
Range of investments
FP Markets and IC Markets both let you trade forex as either CFDs or spot, and both support copy trading. FP Markets lists about 10,000 tradeable symbols and 71 forex pairs, giving it a wider overall selection than IC Markets, which offers 3,583 symbols and 61 forex pairs. For crypto, both brokers provide cryptocurrency CFDs but do not offer direct, delivered crypto. If you want to buy exchange-traded shares, neither broker provides access to U.S.-listed stocks; however, IC Markets does offer exchange-traded shares on certain international markets, while FP Markets does not.
Both brokers earn 4.5 stars for Range of Investments. In ForexBrokers.com’s rankings, FP Markets places #16 out of 63 for this category, while IC Markets ranks #22. Choose FP Markets if a larger symbol count and more forex pairs matter most. Pick IC Markets if you want the added ability to buy international exchange-traded shares alongside CFD trading.
Trading platforms and tools
FP Markets and IC Markets both check the key boxes for trading platforms and tools. Each broker offers a free demo account for practice, Windows desktop and web-based platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5), copy trading, and the ability to place trades directly from charts. One clear difference: FP Markets provides its own proprietary platform in addition to MetaTrader, while IC Markets sticks to third‑party platforms without an in‑house option. Details on the number of built-in technical indicators and watch list columns are not specified for either broker.
When it comes to quality scores, both FP Markets and IC Markets earn 4 out of 5 stars for Trading Platforms and Tools. In ForexBrokers.com’s rankings of 63 brokers, IC Markets places higher at #17, while FP Markets comes in at #22. If you want access to a proprietary platform alongside MT4 and MT5, FP Markets may appeal; if you’re comfortable staying within the MetaTrader ecosystem and want a slightly higher-ranked option, IC Markets is a strong alternative.
Forex trading apps
FP Markets and IC Markets both offer mobile trading apps for iPhone and Android, and each includes stock or forex price alerts. Charting tools are comparable: you can draw trendlines in both apps, and your drawings auto-save. For indicators, FP Markets uses the standard MetaTrader selection of studies, while the IC Markets mobile app lists 30 technical studies. One downside for both: watchlist symbol syncing between the mobile app and your online account is not available.
In terms of recognition, both brokers earn 4 out of 5 stars for Mobile Trading Apps. According to ForexBrokers.com, FP Markets ranks #20 out of 63 brokers in this category, while IC Markets ranks #22. In short, FP Markets edges ahead slightly in the rankings, and IC Markets makes its indicator count clear at 30; otherwise, their mobile features are very similar.