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FP Markets vs IC Markets
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Updated:
Compare FP Markets vs IC Markets Side by Side
Selecting between FP Markets vs IC Markets and wondering which broker os the best for your requirements? We compiled a thorough comparison review between FP Markets Review and IC Markets Review, comparing safety and licenses, trading conditions with fees, trading platforms, instruments, deposit & withdrawal conditions, and all the essential details side by side.
Summary
| Feature | FP Markets | IC Markets |
|---|---|---|
| Website | //www.fpmarkets.com | //www.icmarkets.com |
| Founded year | 2005 | 2007 |
| Headquarter | Australia | Australia |
| Licenses | Australia, Cyprus, South Africa, St. Vincent and the Grenadines | Australia, Cyprus, Seychelles |
| Minimum Deposit | USD$ 100 | 200 US$ |
| Trading Platforms | IRESS, MT4, MT5, cTrader | cTrader, MT4, MT5 |
| Eurusd avg Spread | 0.7 pips | 1 pip |
Licenses
| Feature | FP Markets | IC Markets |
|---|---|---|
| Licenses Countries Info (short) |
|
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FP Markers and IC Markets both boast quite a stringent regulatory framework holding licenses from reputable financial watchdogs from both the EU and Australia. As well as additionally maintaining offshore-based entities for global reach.
Broker Types
| Feature | FP Markets | IC Markets |
|---|---|---|
| Broker types |
|
|
FP Markets functions as a broker employing a hybrid execution model, utilizing both ECN and DMA to guarantee narrower spreads and a more cost-effective trading experience during liquid market conditions. On the other hand, IC Markets operates exclusively as an ECN broker.
Trading Conditions
| Feature | FP Markets | IC Markets |
|---|---|---|
| Trading Conditions |
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When it comes to trading conditions, both FP Markets and IC Markets offer similar opportunities. They support various trading strategies, including scalping and hedging, and furnish traders with a broad suite of tools. This setup guarantees a streamlined trading journey marked by narrow spreads and minimal costs.
Fees & Commissions
| Fees & Commissions | FP Markets | IC Markets |
|---|---|---|
| Inactivity Feemonth | $0 | 0 $ |
| Deposit fee | $0 | 0 $ |
| Withdrawal fee | $0 | 0 $ |
| Rollover fee eurusd buy 1 lot | -5.91 | -0.62 |
| Rollover fee eurusd sell 1 lot | 3.92 | 0.41 |
| Avg Eurusd standard acc | 0.7 pips | 1 pips |
| Gold | 16 cents | 1 |
| Brent oil | 3 pips | 5 pip |
| Bitcoin | 62 | 42.036 |
As you can see from the table above, both FP Markets vs IC Markets have similar fee structures, featuring low spreads. Neither broker imposes non-trading commissions, such as those for deposits/withdrawals or inactivity. While trading commissions aren’t charged by either broker for their standard accounts, with fees being built into the spreads, there are still nominal commissions applied to specific account types.
Account Types
| Feature | FP Markets | IC Markets |
|---|---|---|
| Account types |
|
|
Account offerings for both brokers are similar offering a Standard Account option, along with several other account types tailored to distinct trading styles. This includes a swap-free or Islamic account for traders following Sharia principles. Furthermore, each broker has a Micro Account in its portfolio, which tends to attract beginners because of its lower prerequisites and diminished risks.
Markets & Instruments
| Markets & Instruments | FP Markets | IC Markets |
|---|---|---|
| Forex | 70 | 60 |
| Indices | ✔️ | 23 |
| Commodities | ✔️ | 19 |
| Cryptocurrencies | 5 | 10 |
| Shares | 10,000 | 120+ |
| Bonds | ✔️ | 9+ |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | ❌ | ❌ |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | 4 |
| Etfs | ✔️ | ❌ |
IC Markets and FP Markets offer a comparable array of trading instruments. The primary distinction lies in FP Markets offering Futures, while IC Markets features ETFs. Although the total number of instruments is limited for each broker, FP Markets appears to have a more extensive selection of CFD Shares.
Trading Platforms
| Feature | FP Markets | IC Markets |
|---|---|---|
| Platforms |
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We found an almost identical range of trading platforms offering the industry-standard MT4 and its more sophisticated version MT5, as well as a comprehensive technical trading solution suitable for advanced traders cTrader platform. At the same time, FP Markets provides IRESS, a proprietary platform suitable for global Futures and Equities trading.
Deposit & Withdrawal Methods
| Feature | FP Markets | IC Markets |
|---|---|---|
| Payment methods |
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Both FP Markets and IC Markets provide similar deposit options, including Debit/Credit Cards, Bank Transfers, and a range of e-wallets such as PayPal, Neteller, etc. Unique to FP Markets, they also facilitate Bitcoin transfers.
Others
| Feature | FP Markets | IC Markets |
|---|---|---|
| Others |
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FP Markets and IC Markets both deliver top-notch customer service with 24/7 access via email, phone, and live chat, all while upholding a professional standard. Both brokers emphasize the importance of trader education, catering to all proficiency levels by offering a broad spectrum of educational resources, including guides, video tutorials, webinars, and market research tools.
Conclusion on IC Markets vs FP Markets
Concluding FP Markets vs IC Markets Review, we can see that both brokers maintain a strong reputation and prioritize client protection, delivering comprehensive trading solutions on a global scale. The cost structures of both entities are closely matched, featuring low spreads along with analogous trading conditions, account types, and platforms. While the array of trading instruments is almost on par for both, FP Markets stands out with a more extensive offering of Shares CFDs. Here is our final recommendation:
- FP Markets – 🥇Best Broker for Pattern Trading with lowest spreads and hybrid execution model
- IC Markets – 🥇Best cTrader Broker offering a good range of trading instruments while providing exceptional trading conditions and safety
