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IC Markets vs FxPro 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between IC Markets and FxPro? Weโ€™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, IC Markets ranks more highly than FxPro.

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 RatingIC MarketsFxProXTB
Overall Rating8.2 / 108.1 / 109 / 10
Account TypeIC MarketsFxProXTB
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountYesYesYes
Copy TradingIC MarketsFxProXTB
Social Trading / Copy TradingYesYesYes
DupliTradeNoNoNo
ZuluTradeYesNoNo
CryptocurrencyIC MarketsFxProXTB
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)IC MarketsFxProXTB
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)IC MarketsFxProXTB
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsIC MarketsFxProXTB
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoYesNo
Social Trading / Copy TradingYesYesYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsYesYesYes
ETFYesNoNo
U.S. Stocks (CFD)YesYesYes
Trading PlatformsIC MarketsFxProXTB
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformNoYesYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)YesYesNo
Regulatory LicensesIC MarketsFxProXTB
Tier-1 Licenses111
ASIC Authorised (Australia)YesNoNo
IIROC Authorised (Canada)NoNoNo
FCA Authorised (U.K.)NoYesYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)NoNoNo
Tier-2 Licenses123
Tier-3 Licenses111
Research, EducationIC MarketsFxProXTB
Trading Central (Recognia)YesYesNo
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryYesYesYes
AutochartistYesNoNo
Investor Dictionary (Glossary)YesYesNo
Videos - Beginner Trading VideosNoYesYes
Client Webinars (Archived)YesYesYes
Trading CostsIC MarketsFxProXTB
Minimum Initial Deposit$200$100$0
Average Spread EUR/USD - Standard0.62 (August 2021)1.51 (August 2020)1.07 (Q3 2022)
All-in Cost EUR/USD - Active0.62 (August 2021)1.27 (August 2020)1.04 (Q3 2022)
Active Trader or VIP DiscountsYesYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)YesYesYes
Trading ToolsIC MarketsFxProXTB
Watchlists - Total Fields7198
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)307639
Mobile Charting - Indicators / Studies306539
Trust FactorsIC MarketsFxProXTB
Year Founded200720062002
Publicly Traded (Listed)NoNoYes
BankNoNoNo
Authorised in European UnionNoYesYes
Trust Score869095
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IC Markets vs FxPro 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 IC Markets vs FxPro.

Can I trust IC Markets?

IC 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 โ€“ in most cases โ€“ 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 โ€œDo Not Trustโ€ rating.

Can I trust FxPro?

FxPro has a trust score of 90, giving it a "Highly Trusted" trust label.

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.

Is FxPro a good broker?

FxPro is a trusted brand that provides numerous platforms, execution methods, and pricing options. FxPro caters well to algorithmic traders on its cTrader and MetaTrader platform offerings โ€“ despite having spreads and overall costs that trail industry leaders. FxPro has also steadily developed its FxPro Edge and BnkPro apps, as part of its proprietary platform suite.

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. IC Markets is ASIC Authorised (Australia), while FxPro is FCA Authorised (U.K.)., 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) 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, IC Markets is CySEC Authorised (Cyprus), while FxPro is CySEC Authorised (Cyprus) and FSCA Authorised (South Africa)., 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 both IC Markets and FxPro are 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 IC Markets supports a Desktop Platform (Windows), cTrader and ZuluTrade, whereas FxPro supports a Proprietary Platform, Desktop Platform (Windows) and cTrader., neither have DupliTrade

Does IC Markets offer MetaTrader? Does FxPro offer MetaTrader?

Both IC Markets and FxPro offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If youโ€™re new to MetaTrader 4 hereโ€™s our educational guide on how to use MT4.

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

IC Markets requires a minimum deposit of $200, while FxPro requires a minimum deposit of $100. From our testing we found IC Markets offers spreads of 0.62 (August 2021), while FxPro offers spreads of 1.51 (August 2020). Both IC Markets and FxPro 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, IC Markets or FxPro?

IC Markets offers a more diverse selection of investment options than FxPro allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, IC Markets has 3583, compared to 2249 from FxPro.

Can I trade cryptocurrency with IC Markets or FxPro?

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 โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither IC Markets nor FxPro allow you to trade physical cryptocurrencies.

Who offers more research tools, IC Markets or FxPro?

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

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