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FP Markets vs IC Markets 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between FP Markets and IC Markets? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, FP Markets ranks more highly than IC Markets.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% 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.
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Overall RatingFP MarketsIC MarketsFOREX.com
Overall Rating8.3 / 108 / 108.7 / 10
Account TypeFP MarketsIC MarketsFOREX.com
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountYesYesYes
Copy TradingFP MarketsIC MarketsFOREX.com
Social Trading / Copy TradingYesYesNo
DupliTradeNoNoNo
ZuluTradeNoYesNo
CryptocurrencyFP MarketsIC MarketsFOREX.com
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)FP MarketsIC MarketsFOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)FP MarketsIC MarketsFOREX.com
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsFP MarketsIC MarketsFOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoNoNo
Social Trading / Copy TradingYesYesNo
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsYesYesYes
ETFNoYesYes
U.S. Stocks (CFD)YesYesYes
Trading PlatformsFP MarketsIC MarketsFOREX.com
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)YesYesYes
Regulatory LicensesFP MarketsIC MarketsFOREX.com
Tier-1 Licenses114
ASIC Authorised (Australia)YesYesNo
IIROC Authorised (Canada)NoNoYes
FCA Authorised (U.K.)NoNoYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)NoNoYes
Tier-2 Licenses212
Tier-3 Licenses011
Research, EducationFP MarketsIC MarketsFOREX.com
Trading Central (Recognia)NoYesYes
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryYesYesYes
AutochartistYesYesNo
Investor Dictionary (Glossary)YesYesYes
Videos - Beginner Trading VideosYesNoYes
Client Webinars (Archived)YesYesNo
Trading CostsFP MarketsIC MarketsFOREX.com
Minimum Initial Deposit$100 AUD$200$100
Average Spread EUR/USD - Standard1.2 (August 2022)0.62 (August 2021)1.0 (July 2022)
All-in Cost EUR/USD - Active0.7 (August 2022)0.62 (August 2021)1.0 (July 2022)
Active Trader or VIP DiscountsYesYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)YesYesYes
Trading ToolsFP MarketsIC MarketsFOREX.com
Watchlists - Total Fields7720
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)3030203
Mobile Charting - Indicators / StudiesMetaTrader (Default)3088
Trust FactorsFP MarketsIC MarketsFOREX.com
Year Founded200520071999
Publicly Traded (Listed)NoNoYes
BankNoNoNo
Authorised in European UnionYesNoYes
Trust Score868699
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FP Markets vs IC Markets Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare FP Markets vs IC Markets.

Can I trust FP Markets?

FP Markets has a trust score of 86, giving it a "Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.

Can I trust IC Markets?

IC Markets has a trust score of 86, giving it a "Trusted" trust label.

Is FP Markets a good broker?

FP Markets features excellent pricing, thanks to its highly competitive spreads for forex and CFD trading on MT4. That being said, FP Markets' pricing is not as low on its IRESS platform, which is optimized for share dealing. FP Markets fares well across most key categories, though its research and education have room to improve.

Is IC Markets a good broker?

IC Markets' combination of low spreads and commissions, as well as its supportive execution policies that accomodate algorithmic traders make it our pick for the best MetaTrader broker. In addition, IC Markets recently bolstered its range of markets, sending the total available to over 3,000. It's worth noting, however, that its reserach and educational offerings still have lots of room to improve.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. both FP Markets and IC Markets are ASIC Authorised (Australia)., neither have IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland), FCA Authorised (U.K.) and CFTC Registered (USA)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, FP Markets is CySEC Authorised (Cyprus) and FSCA Authorised (South Africa), while IC Markets is CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses FP Markets is none, while IC Markets is SCB Authorised (Bahamas)., neither have IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms FP Markets supports a Proprietary Platform and Desktop Platform (Windows), whereas IC Markets supports a Desktop Platform (Windows), cTrader and ZuluTrade., neither have DupliTrade

Does FP Markets offer MetaTrader? Does IC Markets offer MetaTrader?

Both FP Markets and IC Markets offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.

How do FP Markets and IC Markets differ in terms of minimum deposit? What about average spreads and funding options?

FP Markets requires a minimum deposit of $100 AUD, while IC Markets requires a minimum deposit of $200. From our testing we found FP Markets offers spreads of 1.2 (August 2022), while IC Markets offers spreads of 0.62 (August 2021). Both FP Markets and IC Markets offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for deposits.

Which brokers offers more tradeable asset classes, FP Markets or IC Markets?

FP Markets offers a more diverse selection of investment options than IC Markets allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, FP Markets has 9956, compared to 3583 from IC Markets.

Can I trade cryptocurrency with FP Markets or IC Markets?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither FP Markets nor IC Markets allow you to trade physical cryptocurrencies.

Who offers more research tools, FP Markets or IC Markets?

In terms of research and research tools FP Markets gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. In comparison IC Markets has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.

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