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Head to head
FP Markets or IC Markets? Fees, regulation, platform and product range compared side by side — with a verdict drawn from the data.
Risk warning: CFDs and leveraged products are complex instruments and come with a high risk of losing money rapidly. Investments can fall in value. Past performance is not an indicator of future results.
Twenty years of ASIC-regulated plumbing behind the widest platform choice in the CFD market.
One of the cheapest routes to raw institutional FX pricing - as long as you check which entity you are signing with.
Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.
Four decision axes, each derived from the recorded data.
Overall IC Markets takes it, 4.2 against 4.0 out of 5. The two pricing models cannot be converted like for like; the fee rows in the table carry the detail. IC Markets scores 70 against 68 out of 100 on the group index. Your account's protection depends on its legal entity. FP Markets covers more ground with 10 of 14 asset classes against 9. On platform and app IC Markets is ahead, 4.1 against 3.8 out of 5. Which one is right depends on which of these axes matters for your trading profile.
Up to four brokers at once — every row a decision point.
Data as of: 30 Aug 2026
| Criterion | ||
|---|---|---|
| Overall score | 4.0 | 4.2 — Better |
| Group index | 68 of 100 | 70 of 100 |
| Best for | DMA equity and futures CFD tradersTraders who want platform choiceActive forex tradersTradingView and cTrader usersCopy and social traders | Algorithmic and EA tradersScalping and high-frequency FXcTrader usersHigh-volume tradersCopy trading |
| Regulation | ASICCySECFSCACMAFSASaint Lucia registration | ASICCySECFSCAFSASCBCMA |
| Top-tier licences | 1 | 1 |
| Investor protection | €20,000 | €20,000 |
| Listed group | No | No |
| Banking licence | No | No |
| Segregated client accounts | Yes | Yes |
| Negative balance protection | Yes | Yes |
| Audited financials | No | Yes |
| Disclosed regulatory actions | 1 | 1 |
| Founded | 2005 | 2007 |
| Headquarters | Sydney, AU | Sydney, AU |
| Fees | 4.4 | 4.7 — Better |
| Safety & regulation | 3.8 | 3.9 — Better |
| Trading platform | 3.9 | 4.5 — Better |
| Product range | 3.7 | 3.7 |
| Mobile app | 3.7 — Better | 3.6 |
| Research | 3.6 | 3.6 |
| Customer support | 4.2 | 4.5 — Better |
| Deposit & withdrawal | 4.5 — Better | 4.4 |
| Account opening | 4.6 — Better | 4.3 |
| Education | 3.7 — Better | 3.3 |
| Reference order EUR 5,000 | US$0.02/share (CFD) | 0.1 % (CFD) |
| Minimum deposit | A$100 — Better | €200 |
| Stocks (per order) | US$0.02/share (CFD) | 0.1 % (CFD) |
| US stocks | US$0.02/share (CFD) | US$0.02/share (CFD) |
| ETFs | in the spread (CFD) | Not offered |
| Options | Not offered | Not offered |
| Futures | US$15 | in the spread |
| Crypto | in the spread | in the spread |
| Bonds (order) | in the spread | in the spread |
| Funds (order) | n/a | n/a |
| EUR/USD spread | 0.1 pips — Better | 0.8 pips |
| Index CFD spread | 0.4 points | n/a |
| FX conversion | n/a | n/a |
| Inactivity fee | n/a | €10 · after 6 months |
| Custody fee | None | None |
| Withdrawal fee | n/a | free |
| Deposit fee | Free on MetaTrader accounts for domestic bank transfer, cards, PayPal, Skrill, Neteller, BPay and POLi. International bank transfer costs AUD 12.50 on either platform. On the Iress platform card deposits cost 1.6% in AUD or 3.18% in any other currency, Neteller and Skrill 4.0%, and PayPal 2.0%. | free |
| Overnight financing | n/a | n/a |
| Other fees |
|
|
| Asset classes (of 14) | 10 — Better | 9 |
| Exchanges | 7 | n/a |
| Stocks | Yes | Yes |
| ETFs | Yes | No |
| Options | No | No |
| Futures | Yes | Yes |
| Forex | Yes | Yes |
| CFDs | Yes | Yes |
| Crypto | Yes | Yes |
| Bonds | Yes | Yes |
| Funds | No | No |
| Commodities | Yes | Yes |
| Indices | Yes | Yes |
| Warrants | No | No |
| Spread betting | No | No |
| Social trading | Yes | Yes |
| Platforms | MetaTrader 4MetaTrader 5cTraderTradingViewIress Trader / ViewPointIress InvestorWebTraderMobile trading appMAM / PAMM | MetaTrader 4MetaTrader 5cTraderTradingViewIC Markets appFIX API |
| Demo account | Yes | Yes |
| Fractional shares | No | No |
| Maximum leverage | 1:500 | 1:30 · Pro 1:500 |
| Account opening | Fully online in roughly 10–15 minutes; most applications approved the same day | Digital application, usually approved within one business day |
| Account types | Standard (MT4/MT5)Raw (MT4/MT5)Iress (retail)Iress (wholesale / professional)Islamic (swap-free) | Raw Spread (MT4/MT5)cTrader RawStandardRaw ProRaw Pro+Swap-free |
| Payment methods | Bank transferSEPACredit cardDebit cardPayPalSkrillNeteller | Bank transferSEPACredit cardDebit cardPayPalSkrillNetellerApple PayGoogle PayCrypto |
| Account currencies | AUDUSDEURGBPSGDCADCHFHKDJPYZAR+2 | EURUSDGBP |
| Deposit time | Cards and e-wallets instant; domestic bank transfer same or next business day; international wire 1–3 business days | Instant to 12 hours on cards and e-wallets, 1-3 business days by bank transfer |
| Withdrawal time | Typically 1 business day to process; bank and card withdrawals arrive in 1–3 business days | Same day to 1 business day on e-wallets and crypto, 2-5 business days by bank wire |
| Free withdrawals | n/a | n/a |
| Languages | EnglishGermanFrenchItalianSpanishPortuguesePolishCzechGreekDutch+6 | EnglishGermanSpanishFrenchItalianPortugueseChineseVietnameseThaiArabic |
| Channels | PhoneEmailLive chat | PhoneEmailLive chat |
| Availability | 24/7 multilingual support, with dedicated account managers on the Iress and higher-tier accounts | 24/7 |
Editorial assessment based on the recorded data.
FP Markets
Twenty years of ASIC-regulated plumbing behind the widest platform choice in the CFD market.
Pros
Cons
Best for
IC Markets
One of the cheapest routes to raw institutional FX pricing - as long as you check which entity you are signing with.
Pros
Cons
Best for
Open an account with either
A demo account costs nothing and answers the platform question in ten minutes.
Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.
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