FP Markets Vs IG

Category: Broker Guides | Author: Trading Brokers | Date: June 27, 2023

When it comes to choosing the right broker for your trading journey, it’s essential to evaluate the options available and find the one that aligns with your specific needs and preferences. In this article, we will compare two renowned brokers, FP Markets and IG, to help you make an informed decision. Both brokers have established themselves as leaders in the industry, offering a range of features and services to traders worldwide. By examining their key aspects, including minimum deposit requirements, spreads, currency pairs, CFD offerings, markets, and regulation, we will delve into the strengths and differences of FP Markets and IG to empower you choose the one that best suits your trading goals and aspirations.

Overview of FP Markets

FP Markets

FP Markets

FP Markets is a reputable broker known for its comprehensive range of trading instruments and advanced trading platforms. With over 15 years of industry experience, FP Markets offers traders access to various financial markets, including Forex, commodities, indices, cryptocurrencies, and stocks. Their diverse product offering allows traders to diversify their portfolios and seize opportunities across different asset classes.

Key features of FP Markets include their competitive spreads, transparent pricing, and extensive selection of currency pairs. They provide traders with access to 71 currency pairs, including major, minor, and exotic pairs, enabling them to trade popular pairs like EUR/USD, GBP/USD, and USD/JPY, as well as more niche currency pairs. Additionally, FP Markets offers a wide range of CFDs, with over 10,000 available instruments, providing traders with ample opportunities to capitalize on market movements.

Pros of FP Markets

  • Wide range of account types to suit different trading needs.
  • Extensive selection of trading assets, including a diverse range of currency pairs.
  • Competitive spreads and low trading costs.
  • Advanced trading platforms, including MetaTrader 4 and MetaTrader 5.
  • Strong regulatory oversight by ASIC, providing a secure trading environment.

Cons of FP Markets

  • Limited educational resources and research tools compared to some other brokers.
  • No dedicated mobile trading app, although mobile trading is still accessible through the web platform.
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 IG

IG

IG

IG is a globally recognized broker with a strong reputation in the industry. They have been serving traders for over 45 years, offering a comprehensive suite of trading services. One of IG’s standout features is their extensive market coverage, providing traders access to a vast array of financial instruments, including Forex, commodities, indices, cryptocurrencies, and stocks. Traders can enjoy a selection of 63 forex pairs, 21 commodities, 25 indices, 63 crypto assets, and a diverse range of over 1,600 stocks. With IG, traders can tap into opportunities across various markets, ensuring a well-rounded trading experience.

IG is known for its user-friendly and feature-rich trading platforms, including their proprietary platform and the popular MetaTrader 4 (MT4). These platforms offer advanced charting tools, customizable indicators, and a seamless trading experience. The broker also provides educational resources and market analysis tools to help traders make informed decisions.

Pros of IG

  • Wide selection of trading instruments, including forex, commodities, indices, and cryptocurrencies.
  • User-friendly trading platform with a range of advanced features and tools.
  • Competitive spreads and low trading costs.
  • Access to a wealth of educational resources, including webinars, tutorials, and market analysis.
  • Strong regulatory oversight from reputable authorities like the FCA.

Cons of IG

  • Limited customization options on the trading platform compared to some other brokers.
  • Inactivity fee charged for accounts with no trading activity for a prolonged period.
IG Logo

IG have an impressive selection of 18,000+ instruments including Forex, Stocks, Cryptos and Commodities. You can trade via easy to use platforms for desktop and mobile apps, with low trading costs and the peace of mind that you are using one of the most well-known brokers in the industry.

71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Comparison Between FP Markets and IG

When comparing FP Markets and IG, several key factors come into play to help you make an informed decision.

Minimum Deposit

FP Markets, with its minimum deposit of $100 AUD, offers a more accessible entry point compared to IG’s requirement of £250.00. This lower minimum deposit makes FP Markets an attractive option for traders operating on a limited budget or seeking to start with a smaller investment. By providing a lower financial barrier, FP Markets caters to a wider range of traders, enabling them to enter the market and participate in trading activities with greater ease and flexibility.

Spreads

IG offers slightly tighter spreads of 0.86, as per our testing, compared to FP Markets’ spreads of 1.21. Tighter spreads can potentially reduce trading costs, especially for frequent traders or those focusing on scalping strategies. However, it’s worth noting that the difference in spreads may vary depending on market conditions and the specific trading instruments.

Currency Pairs

IG provides traders with access to 100 currency pairs, including major, minor, and exotic pairs, while FP Markets offers 71 available pairs. The broader range of currency pairs offered by IG gives traders more options and flexibility to trade different currency combinations based on their trading strategies and preferences.

CFDs

IG offers a wider selection of CFDs with 19,537 available instruments compared to FP Markets’ 10,000 available CFDs. This extensive range of CFDs by IG covers various asset classes, including forex, commodities, indices, and more, allowing traders to diversify their portfolios and take advantage of multiple market opportunities.

Regulation

IG is regulated by the Financial Conduct Authority (FCA) in the UK, which is a respected regulatory body known for its strict oversight of financial services. On the other hand, FP Markets is regulated by the Australian Securities and Investments Commission (ASIC), providing a solid regulatory framework. Both regulators aim to ensure fair trading practices and protect the interests of traders.

Trading Platforms and Education

Both FP Markets and IG offer popular trading platforms, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5), providing traders with reliable and feature-rich trading environments. Additionally, both brokers provide educational resources such as webinars, tutorials, and trading guides to support traders in enhancing their knowledge and skills.

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 investment. Additionally, FP Markets provides a solid range of 71 currency pairs, suitable for traders who focus on forex trading. While the number of available currency pairs is slightly lower compared to IG, FP Markets still offers a diverse selection to cater to various trading strategies and preferences. Furthermore, FP Markets provides access to 10,000 CFDs, allowing traders to diversify their portfolios across different asset classes.

On the other hand, IG might be a better option for you if you value a broader range of currency pairs and a larger selection of CFDs. With 100 currency pairs and 19,537 CFDs, IG offers more opportunities for traders to explore different markets and asset classes. Moreover, IG is regulated by the Financial Conduct Authority (FCA) in the UK, which is known for its strict regulatory standards. This regulatory oversight provides an added layer of security and transparency for traders. Both FP Markets and IG offer popular trading platforms, such as MetaTrader 4 and MetaTrader 5, ensuring a reliable trading experience. Additionally, both brokers provide educational resources and comprehensive customer support options to assist traders in their journey.

Conclusion

In conclusion, both FP Markets and IG are reputable brokers with their own strengths and features. FP Markets offers a lower minimum deposit and a solid selection of currency pairs and CFDs, making it suitable for traders looking for accessibility and diverse trading options. On the other hand, IG provides a wider range of currency pairs, a larger selection of CFDs, and the regulatory oversight of the Financial Conduct Authority (FCA) in the UK. Consider your individual trading requirements and preferences to determine which broker aligns better with your needs.


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