IG vs FP 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 IG vs FP Markets.
Can I trust IG?
IG has a trust score of 99, giving it a "Highly 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 FP Markets?
FP Markets has a trust score of 82, giving it a "Trusted" trust label.
Is IG a good broker?
We consider IG to be the best overall broker in the industry, due to its excellent pricing, oustanding educational materials, comprehensive research, vast range of markets, and its powerful trading platform suite. IG also continues to acquire more regulatory licenses, bolstering its status as a trustworthy broker..
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.
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. IG is ASIC Authorised (Australia), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland), FCA Authorised (U.K.) and CFTC Registered (USA), while FP Markets is ASIC Authorised (Australia)., neither have IIROC Authorised (Canada), SFC Authorised (Hong Kong) and CBI Authorised (Ireland)
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, IG is FSCA Authorised (South Africa) and DFSA / Central Bank Authorised (UAE), while FP Markets is CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), NSE Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia) and SEC Authorised (Thailand). When comparing tier-3 licenses IG is BMA Authorised (Bermuda), while FP Markets is none., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).
Which broker offers more trading platforms?
Both IG and FP Markets offer a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade
Does IG offer MetaTrader? Does FP Markets offer MetaTrader?
For MetaTrader IG provides MetaTrader 4 (MT4), while FP Markets provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.
How do IG and FP Markets differ in terms of minimum deposit? What about average spreads and funding options?
IG requires a minimum deposit of £250.00, while FP Markets requires a minimum deposit of $100 AUD. From our testing we found IG offers spreads of 0.828 (September 2021), while FP Markets offers spreads of 1.2 (August 2022). IG supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for popular funding options, where FP Markets supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).
Which brokers offers more tradeable asset classes, IG or FP Markets?
IG offers a more diverse selection of investment options than FP Markets allowing you to trade Forex Trading, Trading - Forex or CFDs, Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, IG has 19537, compared to 9790 from FP Markets.
Can I trade cryptocurrency with IG or FP 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 IG nor FP Markets allow you to trade physical cryptocurrencies.
Who offers more research tools, IG or FP Markets?
Both IG and FP Markets offer a complete suite of research, providing traders with these tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading., neither have Trading Central (Recognia)