Trading Academy
Forex Glossary
Trading Guides
News
Blog
When evaluating FP Markets vs IC Markets, the differences in raw trading costs can be surprisingly significant: FP Markets' Raw Spread accounts deliver all-in costs of approximately 0.8 pips on EUR/USD, while IC Markets' cTrader Raw account goes as low as 0.62 pips, making the choice between these two brokers a genuinely important decision for cost-conscious traders. Both are Australian-regulated powerhouses with strong reputations, but they cater to slightly different trading profiles, and understanding those differences is key to choosing wisely in 2026.
Key Takeaways
| Category | FP Markets | IC Markets |
|---|---|---|
| Raw Commission (per round lot) | $6.00 | $7.00 |
| Minimum Deposit | $100 | $200 |
| Platforms | MT4, MT5, cTrader, IRESS, TradingView | MT4, MT5, cTrader, TradingView |
| Regulation | ASIC, CySEC, FSCA | ASIC, CySEC, Seychelles FSA |
| Currency Pairs | 71 pairs | 61 pairs |
| Best For | ECN traders, scalpers, equity traders | Algorithmic traders, EAs, scalpers |
| Overall Verdict | It's a tie, with each broker excelling for different trader profiles | |
- Which broker has lower commissions? FP Markets charges $6.00 per round lot on Raw accounts, compared to IC Markets' $7.00, giving FP Markets a slight edge on headline commission costs.
- Which is safer? Both brokers hold ASIC and CySEC licenses. You can read more about FP Markets' safety and regulatory standing for a detailed breakdown.
- Which offers more platforms? FP Markets includes IRESS for equities trading, giving it a broader platform range than IC Markets.
- Which is better for algorithmic trading? IC Markets is widely recognized as the stronger choice for EA-driven and low-latency algo strategies.
- Which has the lower minimum deposit? FP Markets starts at $100, while IC Markets requires a $200 minimum deposit.
FP Markets vs IC Markets: Broker Background and Reputation
When comparing FP Markets vs IC Markets, it helps to understand where each broker comes from and what they have built their reputation on.
FP Markets was established in 2005, making it one of the more experienced retail brokers in the Australian market. It operates under licenses from ASIC, CySEC, and FSCA, and it has built a reputation for offering a wide range of tradable instruments alongside a strong technology stack. You can explore the full FP Markets review for 2026 to see a detailed breakdown of everything it offers.
IC Markets launched in 2007 and quickly carved out a niche as the go-to broker for professional and algorithmic traders. It is regulated by ASIC, CySEC, and the Seychelles FSA, and is widely known for its True ECN model and extremely low-latency execution. The full IC Markets review for 2026 covers its infrastructure and offerings in detail.
Both brokers operate with segregated client funds and have maintained strong reputations in the industry for well over a decade, which makes the FP Markets vs IC Markets decision less about safety and more about fit.
FP Markets vs IC Markets: Fee and Spread Comparison
Trading costs are often the deciding factor when choosing between these two brokers, and the differences are worth examining closely.
On Raw/ECN accounts, FP Markets charges $6.00 per round lot in commission. IC Markets charges $7.00 per round lot, giving FP Markets a $1.00 edge on headline commission. However, commission is only one part of the cost equation.
When you factor in spreads on top of commission, the picture shifts. IC Markets' cTrader Raw account delivers EUR/USD spreads as low as 0.0 pips, with all-in costs as competitive as 0.62 pips, while FP Markets' Raw accounts come in around 0.8 pips all-in on the same pair. For high-frequency traders, that difference compounds meaningfully over thousands of trades.
For traders who do not want to pay per-trade commissions, the Standard account comparison is equally important. IC Markets' 0.8 pip average on EUR/USD is noticeably tighter than FP Markets' 1.1 pip average, which is meaningful for discretionary traders who prefer spread-only pricing.
On the currency pair selection side, FP Markets offers 71 currency pairs, which is 16% more variety than IC Markets' 61 pairs. Traders focused on exotic or minor pairs will find more options at FP Markets.
FP Markets vs IC Markets: Platform and Tools Comparison
Platform availability is one area where FP Markets genuinely pulls ahead in the FP Markets vs IC Markets matchup.
FP Markets supports MT4, MT5, cTrader, IRESS, and TradingView. The inclusion of IRESS is particularly notable, as it gives Australian clients access to direct market access (DMA) for equities, something IC Markets does not offer. For traders who want to operate across both forex and share markets on a single broker account, this is a meaningful advantage.
IC Markets supports MT4, MT5, cTrader, and TradingView. While the platform lineup is slightly narrower, the quality of execution on all four platforms is consistently strong, with IC Markets particularly respected for its low-latency cTrader environment favored by algorithmic traders and scalpers.
- MT4/MT5: Both brokers support these fully, with access to expert advisors (EAs) and automated trading.
- cTrader: Available at both brokers, popular with ECN traders for its transparent depth-of-market pricing.
- TradingView: Supported by both brokers for charting and direct trade execution.
- IRESS: Exclusive to FP Markets, relevant for Australian share market traders.
This infographic highlights five key differences between FP Markets and IC Markets. Use it for a quick, side-by-side comparison.
Safety and Regulation: FP Markets vs IC Markets
Regulatory safety is a non-negotiable consideration when selecting a broker, and both perform well in this category when you compare FP Markets vs IC Markets.
FP Markets is regulated by ASIC (Australia), CySEC (Cyprus), and FSCA (South Africa). It holds client funds in segregated accounts and offers investor compensation fund (ICF) protection for EU-regulated accounts under CySEC. FP Markets' multi-regulatory structure across top-tier jurisdictions gives it a strong overall safety profile.
IC Markets is regulated by ASIC, CySEC, and the Seychelles FSA. The Seychelles FSA is a less stringent regulatory body compared to ASIC or CySEC, which is worth noting for traders opening accounts under the offshore entity. However, most traders from supported regions can access the ASIC or CySEC-regulated entities, which carry the strongest protections.
"FP Markets is regulated by ASIC and CySEC with segregated client funds and investor protection where applicable, giving traders in most jurisdictions a high level of confidence in fund security."
In terms of independent trust scoring, FP Markets holds a Trust Score of 90/100, compared to IC Markets' score of 83/100, reflecting FP Markets' broader multi-jurisdictional regulatory footprint.
FP Markets vs IC Markets: Account Types and Minimum Deposits
Understanding the account structures at each broker is essential before deciding which one suits your needs in the FP Markets vs IC Markets comparison.
FP Markets account types:
- Standard Account: Spread-only pricing, suitable for beginners and low-frequency traders.
- Raw Account: $6.00 commission per round lot with tight raw spreads from ECN liquidity providers.
- IRESS Account: Designed for Australian share market traders using direct market access.
- Minimum deposit: $100 for forex and CFD accounts.
IC Markets account types:
- Standard Account: Spread-based pricing with no commission, average EUR/USD spread around 0.8 pips.
- Raw Spread Account (MT4/MT5): $7.00 commission per round lot with raw spreads starting from 0.0 pips.
- Raw Spread Account (cTrader): $6.00 commission per round lot, widely regarded as the best account for algo and scalping strategies.
- Minimum deposit: $200 for all account types.
One notable detail in the FP Markets vs IC Markets account comparison: IC Markets actually matches FP Markets' $6.00 commission rate on its cTrader Raw account, narrowing the commission advantage FP Markets holds on MT4/MT5 Raw accounts.
Pros and Cons: FP Markets vs IC Markets
A clear summary of the strengths and weaknesses helps when making a final decision in the FP Markets vs IC Markets evaluation.
| FP Markets | IC Markets |
|---|---|
Pros:
| Pros:
|
Cons:
| Cons:
|
FP Markets vs IC Markets: Customer Support and Overall Experience
For active traders, the quality of customer support can directly affect trading outcomes. In the FP Markets vs IC Markets comparison, both brokers maintain responsive support teams, but FP Markets has a notable edge in response speed.
FP Markets maintains an average customer support response time of less than 60 seconds during peak hours, which is exceptional by industry standards. This matters most when technical issues arise mid-session and quick resolution is essential.
IC Markets also provides multi-channel support including live chat, email, and phone, and its large client base of over 180,000 active traders across more than 200 countries reflects the capacity and infrastructure it has built to handle high-volume support demands.
Both brokers offer educational resources and research tools for traders at different experience levels. FP Markets tends to offer slightly more research content for beginners, while IC Markets leans more heavily toward resources suited to professional and algorithmic traders.
Who Should Choose FP Markets vs IC Markets?
The decision between FP Markets vs IC Markets ultimately comes down to your trading style, experience level, and what you prioritize most.
Choose FP Markets if you:
- Are an Australian trader who also wants access to the share market via IRESS
- Prefer a lower minimum deposit to start ($100 vs $200)
- Want a broader selection of currency pairs, including exotic pairs
- Value a slightly higher regulatory trust score and multi-jurisdiction oversight
- Are a beginner who needs fast-access customer support
- Trade ECN-style with a preference for the MT4/MT5 Raw account structure
Choose IC Markets if you:
- Run expert advisors (EAs) or automated trading strategies
- Prioritize the absolute lowest all-in trading costs on major pairs
- Use cTrader as your primary platform
- Require low-latency execution for high-frequency or scalping strategies
- Prefer a broker with a massive global client base and deep liquidity
If you want to compare these two alongside other top-rated brokers, the full broker reviews directory for 2026 covers a wide range of options with the same level of detail.
For traders who are still undecided, reading the full FP Markets vs IC Markets algorithmic comparison on BrokerAnalysis is a useful next step, as it breaks down spreads, regulations, and platform details side by side with a structured scoring approach.
Conclusion
In the FP Markets vs IC Markets comparison, neither broker wins outright, and that is the honest verdict for 2026. Both are well-regulated, competitively priced, and built for serious traders who want institutional-quality conditions.
FP Markets holds the edge in regulatory trust scoring, platform variety (especially with IRESS), currency pair selection, and minimum deposit accessibility. IC Markets leads on raw all-in trading costs, low-latency execution, and suitability for algorithmic and EA-based strategies.
For most discretionary forex traders and those new to ECN environments, FP Markets represents a slightly more accessible and broadly capable option. For professional scalpers, algo traders, and those who measure every fraction of a pip, IC Markets remains the industry benchmark for execution quality.
Whichever broker you choose in the FP Markets vs IC Markets debate, both offer the tools, safety, and pricing structure needed to trade seriously in 2026.
Frequently Asked Questions
Is FP Markets or IC Markets better for beginners in 2026?
FP Markets is generally the better starting point for beginners due to its lower minimum deposit of $100 (vs IC Markets' $200), its fast customer support response times, and a slightly broader educational resource base. However, both brokers in the FP Markets vs IC Markets comparison offer user-friendly platforms including MT4 and TradingView that work well for new traders.
Which broker has lower spreads: FP Markets or IC Markets?
IC Markets has lower all-in spreads on its Raw accounts, particularly the cTrader Raw account which reaches as low as 0.62 pips on EUR/USD after commission. FP Markets' Raw accounts come in around 0.8 pips all-in on the same pair, making IC Markets the winner for absolute lowest trading costs in the FP Markets vs IC Markets comparison.
Is FP Markets safer than IC Markets?
Both brokers are regulated by ASIC and CySEC, which are two of the world's most respected financial regulators. FP Markets holds a Trust Score of 90/100 compared to IC Markets' 83/100, partly because FP Markets' offshore entity uses FSCA rather than the Seychelles FSA. For traders who open accounts under ASIC or CySEC entities, both brokers provide comparable levels of safety.
Which broker is better for algorithmic trading: FP Markets or IC Markets?
IC Markets is widely regarded as the superior choice for algorithmic trading and EA-based strategies due to its True ECN model, low-latency infrastructure, and cTrader environment that is specifically optimized for automated systems. While FP Markets also supports EAs on MT4 and MT5, IC Markets' reputation in the algo trading community gives it a clear advantage in this specific area of the FP Markets vs IC Markets debate.
Do FP Markets and IC Markets both support cTrader?
Yes, both FP Markets and IC Markets offer cTrader as a trading platform. IC Markets' cTrader Raw account charges $6.00 per round lot, which matches FP Markets' MT4/MT5 Raw account commission, making the cTrader experience at IC Markets particularly competitive. FP Markets goes further by also offering IRESS, which IC Markets does not provide.
What is the minimum deposit for FP Markets vs IC Markets?
FP Markets requires a minimum deposit of $100 to open a standard forex or CFD account, while IC Markets requires a minimum of $200. This $100 difference makes FP Markets the more accessible option for traders who want to start with a smaller initial capital commitment when comparing FP Markets vs IC Markets.
Which broker offers more currency pairs: FP Markets or IC Markets?
FP Markets offers 71 currency pairs, which is 16% more than IC Markets' 61 pairs. Traders with a focus on exotic or minor currency pairs will find a broader selection at FP Markets, making it the stronger option in this specific category of the FP Markets vs IC Markets comparison.
