FP Markets Vs IC Markets

Category: Broker Guides | Author: Trading Brokers | Date: April 28, 2024

In the world of online trading, choosing the right forex broker can significantly impact your trading experience and potential success. In this article, we will delve into a detailed comparison between two renowned brokers: FP Markets and IC Markets. Both brokers have established a strong presence in the industry and offer a range of trading services and features. By exploring their key aspects, advantages, and drawbacks, you can make an informed decision on which broker aligns better with your trading goals and preferences. So, let’s dive in and explore the similarities and differences between FP Markets and IC Markets to determine which one may be the ideal choice for you.

Overview of FP Markets

FP Markets

FP Markets

FP Markets is a highly reputable and globally recognized forex and CFD broker, known for its extensive range of financial instruments and advanced trading technology. With FP Markets, traders can access over 10,000 financial instruments, including 60+ currency pairs, indices, commodities, cryptocurrencies, and shares from global markets. The broker offers competitive spreads and fast execution, thanks to its deep liquidity pool and strong relationships with top-tier liquidity providers. Traders have the flexibility to choose from different account types, including Standard, Raw Spread, and Islamic accounts, allowing them to align their trading strategy with their specific needs. FP Markets also provides traders with a choice of industry-leading trading platforms, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), and the Iress platform, each offering advanced features, customizable interfaces, and comprehensive charting tools.

Pros of FP Markets

  • Wide range of financial instruments for diverse trading opportunities.
  • Multiple trading platforms, including MT4, MT5, and the Iress platform.
  • Competitive spreads and fast execution speeds.
  • Different account types to cater to various trading styles.
  • Strong reputation and regulated by reputable authorities.

Cons of FP Markets

  • Limited educational resources compared to some other brokers.
  • Inactivity fee for dormant accounts.
FP Markets Logo

FP Markets is an established and regulated broker that offers 10,000+ trading products across multiple global markets. They have award winning platforms with transparent pricing, fast execution speeds and competitive trading costs.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Overview of IC Markets

IC Markets

IC Markets

IC Markets is a highly regarded forex and CFD broker renowned for its transparency, competitive pricing, and advanced trading infrastructure. The broker provides access to a wide range of financial instruments, including 60+ currency pairs, indices, commodities, and cryptocurrencies. IC Markets has gained a reputation for its tight spreads and deep liquidity, thanks to its relationships with multiple liquidity providers, including major banks and financial institutions. Traders can choose from various account types, including Raw Spread accounts and Islamic accounts, designed to meet the needs of different trading styles. IC Markets offers traders the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, known for their extensive charting capabilities, advanced order types, and expert advisor compatibility.

Pros of IC Markets

  • Wide range of tradable instruments, including forex, indices, commodities, and cryptocurrencies.
  • Advanced trading platforms with powerful features and customizable options.
  • Competitive pricing and low spreads.
  • Different account types, including Raw Spread and Islamic accounts.
  • Strong global presence and reputable regulation.

Cons of IC Markets

  • Limited availability of non-forex instruments.
  • Inactivity fee for dormant accounts.
IC Markets Logo

IC Markets is the world’s largest true ECN trading broker offering over 2,000 trading instruments across multiple markets on the most popular trading platforms. They are a multi-regulated broker with deep liquidity pools that can provide you with rapid trade execution speeds, low spreads, low commission fees, various funding options and 24/7 support.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Comparison Between FP Markets and IC Markets

FP Markets and IC Markets are both forex brokers that offer a range of features. Here are some factors to consider when comparing the two:

Minimum Deposit

FP Markets requires a minimum deposit of $100 AUD, which is relatively lower compared to IC Markets’ minimum deposit requirement of $20012 AUD. This lower minimum deposit with FP Markets may be more accessible for traders with limited initial capital.


In our testing, we found that FP Markets offers spreads of 1.2, while IC Markets provides spreads of 0.6. Lower spreads can be beneficial for traders as it reduces their trading costs and improves their potential profitability. Therefore, IC Markets may have a slight edge in terms of tighter spreads.

Currency Pairs

FP Markets offers a wider selection of currency pairs, providing traders access to 71 currency pairs such as EUR/USD, compared to IC Markets’ offering of 61 currency pairs. Having a broader range of currency pairs can be advantageous for traders seeking diversified trading opportunities.


FP Markets boasts an extensive offering of 10,000 CFDs, while IC Markets provides access to 3583 CFDs. This demonstrates that FP Markets has a more diverse range of CFD instruments available, potentially offering traders more choices for diversification and trading strategies.


FP Markets provides a broader range of markets compared to IC Markets. FP Markets covers Forex with over 70 currency pairs, commodities with 18 options, indices with 11 choices, crypto assets with 60 offerings, and an impressive selection of over 10,000 stocks. In contrast, IC Markets offers 63 Forex pairs, 21 commodities, 25 indices, 63 crypto assets, and around 1,600 stocks. The wider range of markets offered by FP Markets may be appealing to traders seeking more diversified investment opportunities.


Both FP Markets and IC Markets are regulated by the Australian Securities and Investments Commission (ASIC), ensuring that they operate in compliance with industry standards and providing a certain level of security and protection for traders.

Which is Better For You?

FP Markets might be a better option for you if you are looking for a broker with a lower minimum deposit requirement. With a minimum deposit of $100 AUD, FP Markets offers a more accessible entry point for traders who want to start with a smaller initial investment. Additionally, FP Markets provides a wide range of currency pairs, with 71 available pairs, allowing traders to access various opportunities in the forex market. Furthermore, if you are interested in trading a diverse range of markets, FP Markets offers an extensive selection of options, including commodities, indices, crypto assets, and a large number of stocks. With over 10,000 CFDs available, traders can enjoy a diverse trading experience across different asset classes.

On the other hand, IC Markets might be a better option for you if you prioritize tight spreads. Our testing has shown that IC Markets offers spreads as low as 0.6, which can be beneficial for traders who engage in frequent trading activities and aim to maximize their potential profits. Additionally, while IC Markets offers a slightly smaller number of currency pairs compared to FP Markets, with 61 available pairs, it still provides a diverse range of options for forex trading. Moreover, IC Markets also offers a solid selection of commodities, indices, crypto assets, and stocks, allowing traders to access multiple markets within a regulated environment.


In conclusion, both FP Markets and IC Markets are regulated brokers offering a range of features for traders. FP Markets stands out with a lower minimum deposit requirement, a broader selection of currency pairs and markets, and an extensive offering of CFDs. IC Markets, on the other hand, may have a slight edge with tighter spreads. Ultimately, the choice between the two will depend on individual trading preferences, desired markets, and specific trading strategies. Traders should carefully evaluate their needs and consider these factors to make the best decision for their trading journey.

Relevant Articles