FP Markets
Regulated in your country FP Markets is allowed by ASIC to onboard clients residing in Australia.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
IC Markets
Regulated in your country IC Markets is allowed by ASIC to onboard clients residing in Australia.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Best for
What we compare A comparison of the kinds of traders FP Markets and IC Markets are best suited to, based on what each one actually offers in Australia.FP Markets and IC Markets are equally good for professional traders, scalpers and swing traders.
| Overall score | FP Markets 83 -1 | IC Markets 84 |
|---|---|---|
| Day trading i | ||
| Long-term investing i | ||
| Professional traders i | ||
| High-volume traders i | ||
| Scalpers i | ||
| Swing traders i | ||
| News traders i | ||
| Algo traders i | ||
| Stock traders i | ||
| Crypto traders i | ||
| Futures traders i | ||
| Options traders i |
Regulation
What we compare A comparison between the financial authorities that supervise FP Markets and the ones that supervise IC Markets.FP Markets and IC Markets are both regulated in Australia, by ASIC.
| Section score | FP Markets 100 | IC Markets 100 |
|---|---|---|
| Tier-1 regulators | ||
| ESMA (European Union) i | ||
| FCA (United Kingdom) i | ||
| ASIC (Australia) i | ||
| CFTC (United States) i | ||
| NFA (United States) i | ||
| SEC (United States) i | ||
| CIRO (Canada) i | ||
| MAS (Singapore) i | ||
| SFC (Hong Kong) i | ||
| JFSA (Japan) i | ||
| FINMA (Switzerland) i | ||
| Tier-2 regulators | ||
| FMA (New Zealand) i | ||
| CBR (Russia) i | ||
| FSCA (South Africa) i | ||
| DFSA (Dubai) i | ||
| CSRC (China) i | ||
| ISA (Israel) i | ||
| LFSA (Malaysia) i | ||
| JSC (Jordan) i | ||
| CMA (Kenya) i | ||
| Tier-3 regulators | ||
| FSA (Seychelles) i | ||
| MMA (Maldives) i | ||
| SCB (Bahamas) i | ||
| FSC (Mauritius) i | ||
| VFSC (Vanuatu) i | ||
| FSC (Belize) i | ||
| CIMA (Cayman Islands) i | ||
| SV FSA (Saint Vincent and the Grenadines) i | ||
| FSRC (St. Kitts & Nevis) i | ||
| BMA (Bermuda) i | ||
| BVI FSC (British Virgin Islands) i | ||
| EDR (External Dispute Resolution) i | ||
Safety
What we compare A comparison of the tools and services that FP Markets and IC Markets have in place to protect your money in Australia.FP Markets and IC Markets both offer segregated client funds and two-factor authentication.
| Section score | FP Markets 66 | IC Markets 65 -1 |
|---|---|---|
| Company info | ||
| Is it publicly traded i | ||
| Is it a bank i | ||
| Year founded i | 2005 | 2007 |
| Parent company i | First Prudential Markets Pty Ltd | International Capital Markets Pty Ltd |
| CEO i | Craig Allison | Andrew Budzinski |
| Money safety | ||
| Segregated client funds i | ||
| Two-factor authentication i | ||
| Investor compensation scheme i | ||
| Additional money insurance i | ||
| Partner bank i | N/A | Eurobank |
| Brand power | ||
| Number of customers worldwide i | ||
| Annual revenue i | ||
| Monthly website search traffic i | 563.6K monthly visits | 2.2M monthly visits |
Costs
What we compare A comparison of what it costs to trade with FP Markets and with IC Markets in Australia, both on each trade and on holding the account.FP Markets and IC Markets are equally good for costs, since FP Markets charges lower forex commissions, at US$6 per lot (against IC Markets' US$7), and has tighter S&P 500 CFD spreads, at 0.25 points (against IC Markets' 0.49 points). On the other hand, IC Markets is cheaper on EUR/USD, at US$8 per lot (against FP Markets' US$10.4), and has tighter gold CFD spreads, at 0.08 points (against FP Markets' 0.24 points). Neither FP Markets nor IC Markets charges account maintenance fees or deposit fees.
| Section score | FP Markets 62 -2 | IC Markets 64 |
|---|---|---|
| Broker fees | ||
| Deposit fees i | ||
| Withdrawal fees i | ||
| Overnight fees i | ||
| Inactivity fees i | ||
| Currency conversion fees i | ||
| Discounts on volume i | ||
| Real time market data fee i | ||
| Dividend withholding i | ||
| Account opening fees i | ||
| Account maintenance fee i | ||
| Portfolio management fee i | ||
| Fees on CFDs | ||
| Forex commission per lot i | US$6 | US$7 |
| EUR/USD average standard spread i | ||
| EUR/USD average raw spread i | ||
| EUR/USD average fixed spread i | ||
| EUR/USD total cost per lot i | US$10.4 | US$8 |
| S&P 500 fees (CFD) i | 0.25 points | 0.492 points |
| Gold fees (CFD) i | 0.24 points | 0.08 points |
| Bitcoin fees (CFD) i | US$23.6 | US$12.01 |
| US stocks fees (CFD) i | US$0.02 | US$0.02 |
| Fees on stocks | ||
| Stock fee type i | Commission, Percentage | Commission, Percentage |
| US stocks fees (real) i | ||
| ETF fees (real) i | ||
| Management costs i | ||
| Connection costs i | ||
| Fees on futures | ||
| Futures fees per contract i | ||
| Platform fees i | ||
| Fees on options | ||
| Options fees per contract i | ||
| Event fees i | ||
| Fees on savings plans | ||
| IRA opening fee i | ||
| IRA maintenance fee i | ||
| 401k opening fee i | ||
| 401k maintenance fee i | ||
Available markets
What we compare A comparison of the markets and products you can trade with FP Markets and with IC Markets in Australia, and of how many instruments each one gives access to.FP Markets and IC Markets are close on available markets. Both FP Markets and IC Markets offer CFDs on commodities, crypto, ETFs, forex, indices and stocks. FP Markets goes a step further, as it gives access to 10,000 tradable symbols (against IC Markets' 2,250).
| Section score | FP Markets 75 | IC Markets 75 |
|---|---|---|
| Total tradable symbols i | 10,000 | 2,250 |
| Currency pairs i | ||
| Indices i | ||
| Commodities i | ||
| Stocks i | ||
| ETF i | ||
| Cryptocurrencies i | ||
| Bonds i | ||
| Interest rates i | ||
| Portfolios i | ||
| CFDs i | Commodities, Crypto, ETF, Forex, Indices, Stocks | Commodities, Crypto, ETF, Forex, Indices, Stocks |
| Futures i | ||
| Options i | ||
| Assets you can own i |
Platform
What we compare A comparison of the trading platforms that FP Markets and IC Markets make available to their clients in Australia.IC Markets is better than FP Markets for platforms, given that IC Markets offers copy trading and Mirror Trader, which FP Markets does not. FP Markets and IC Markets both offer cTrader and MetaTrader 5.
| Section score | FP Markets 83 -6 | IC Markets 89 Best |
|---|---|---|
| Proprietary platform i | ||
| MetaTrader 4 i | ||
| MetaTrader 5 i | ||
| cTrader i | ||
| Social trading platform i | ||
| Copy trading platform i | ||
| ZuluTrade i | ||
| TradingView i | ||
| Duplitrade i | ||
| Mirror Trader i | ||
| NinjaTrader i | ||
| AutoChartist i | ||
| Real time pricing i | ||
| 5 digit pricing i | ||
| One-click trading i |
Mobile
What we compare A comparison of the mobile apps of FP Markets and IC Markets in Australia, and of what each one lets you do from your phone.FP Markets and IC Markets are equally good for mobile trading, as both offer a proprietary mobile app and the cTrader app.
| Section score | FP Markets 86 | IC Markets 86 |
|---|---|---|
| Proprietary app i | ||
| Social trading app i | ||
| Copy trading app i | ||
| MetaTrader 4 app i | ||
| MetaTrader 5 app i | ||
| cTrader app i | ||
| Mobile trading signals i | ||
| Mobile alerts i | ||
| Mobile charting tools i | ||
| Mobile drawing tools i | ||
| Mobile watchlist i | ||
| Smartwatch app i |
Trading features
What we compare A comparison of the trading tools and strategies that FP Markets and IC Markets allow on their platforms in Australia.IC Markets is better than FP Markets for trading features, since IC Markets executes orders faster, within 40 ms (against FP Markets' 48 ms), and allows for high-frequency trading. FP Markets and IC Markets both offer negative balance protection and trailing stops.
| Section score | FP Markets 83 -4 | IC Markets 87 Best |
|---|---|---|
| Trade execution | ||
| Broker type i | Hybrid | Hybrid |
| Average execution time i | 48 ms | 40 ms |
| Slippage occurrence i | ||
| Requotes occurrence i | 0% | 0% |
| Tier-1 liquidity providers i | ||
| PFOF i | ||
| Leverage | ||
| Major FX pairs leverage i | 30:1 | 30:1 |
| Minor/Exotic FX pairs leverage i | 20:1 | 20:1 |
| Major indices leverage i | 20:1 | 20:1 |
| Minor indices leverage i | 10:1 | 10:1 |
| Gold leverage i | 20:1 | 20:1 |
| Commodities leverage i | 10:1 | 10:1 |
| Equities leverage i | 5:1 | 5:1 |
| Cryptocurrency leverage i | 2:1 | 2:1 |
| Risk management | ||
| Stop losses i | ||
| Take profits i | ||
| Limit orders i | ||
| Trailing stop i | ||
| Margin call i | ||
| OCO orders i | ||
| Guaranteed stop loss i | ||
| Negative balance protection i | ||
| Minimum trade size (FX) i | 0.01 lots | 0.01 lots |
| Minimum trade size (stocks) i | US$1 | US$0 |
| Fractional stocks i | ||
| Trading compliance | ||
| Scalping strategies allowed i | ||
| Hedging strategies allowed i | ||
| Automated trading strategy allowed i | ||
| EAs use allowed i | ||
| HFT strategy allowed i | ||
| VPS use allowed i | ||
| API use allowed i | ||
| Price scraping allowed i | ||
| FIFO rule applies i | ||
Account types
What we compare A comparison of the kinds of account you can open at FP Markets and at IC Markets in Australia, and of who each one is meant for.FP Markets and IC Markets are equally good for account types, as both offer a demo account and a professional traders account.
| Section score | FP Markets 74 | IC Markets 74 |
|---|---|---|
| Demo account i | ||
| Unlimited demo account i | ||
| Standard account i | ||
| Micro account i | ||
| Cent account i | ||
| Nano account i | ||
| Raw spread account i | ||
| ECN account i | ||
| Swap-free account i | ||
| Islamic account i | ||
| Professional traders account i | ||
| Fixed spread account i | ||
| Spread betting account i | ||
| Copy trading account i | ||
| Corporate account i | ||
| Managed account i | ||
| Stock investing account i | ||
| Margin investing account i | ||
| Savings account i | ||
| Retirement account i |
Account opening
What we compare A comparison of what it takes to open and fund an account with FP Markets and with IC Markets in Australia.FP Markets is better than IC Markets for account opening, because FP Markets does not require a minimum deposit (against IC Markets' US$200), offers 11 account base currencies (against IC Markets' 10), and credits deposits faster, within 3 days (against IC Markets' 5 days). FP Markets and IC Markets both offer credit cards and debit cards.
| Section score | FP Markets 90 Best | IC Markets 85 -5 |
|---|---|---|
| Minimum deposit i | US$0 | US$200 |
| Minimum withdrawal i | US$0 | US$0 |
| Wire transfers i | ||
| Credit cards i | ||
| Debit cards i | ||
| eWallets i | PayPal, Neteller, Skrill | PayPal, Neteller, Skrill |
| Local payment methods i | ||
| Account base currencies i | AUD, CAD, SGD, USD, EUR, GBP, HKD, JPY, NZD, CHF, PLN | AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, CHF |
| Deposit waiting time i | up to 3 business days | up to 5 business days |
| Withdrawal waiting time i | up to 4 business days | up to 5 business days |
| Bonus program i |
Customer care
What we compare A comparison of the customer support of FP Markets and IC Markets in Australia, in how it can be reached and how fast it answers.IC Markets is better than FP Markets for customer care, because IC Markets offers customer support in 17 languages (against FP Markets' 12), has a website in 17 languages (against FP Markets' 10), and offers priority support, which FP Markets does not. FP Markets and IC Markets both offer a dedicated account manager and phone support.
| Section score | FP Markets 83 -9 | IC Markets 92 Best |
|---|---|---|
| Number of languages supported i | 12 | 17 |
| Website languages i | Arabic, German, English, French, Italian, Malay, Portuguese, Russian, Spanish, Vietnamese | Arabic, Bulgarian, Czech, German, English, French, Croatian, Indonesian, Italian, Korean, Malay, Portuguese, Russian, Spanish, Thai, Vietnamese, Chinese |
| Website available in English i | ||
| Customer support languages i | Arabic, German, English, French, Indonesian, Italian, Korean, Malay, Portuguese, Spanish, Thai, Chinese | Arabic, Bulgarian, Czech, German, English, French, Croatian, Indonesian, Italian, Korean, Malay, Portuguese, Russian, Spanish, Thai, Vietnamese, Chinese |
| Customer support in English i | ||
| Call back request i | ||
| Email support i | ||
| Phone support i | ||
| Live chat i | ||
| Priority customer support i | ||
| Dedicated account manager i | ||
| Cash sweep i | ||
| Stock lending i | ||
| Distributes proceeds i | ||
| Tax withholding agent i | ||
| Tax assistance i |
Learning
What we compare A comparison of the educational material that FP Markets and IC Markets provide to their clients in Australia.FP Markets and IC Markets are equally good for learning, as both offer education for advanced traders and webinars.
| Section score | FP Markets 100 | IC Markets 100 |
|---|---|---|
| Education | ||
| Education center i | ||
| Education for beginners i | ||
| Education for advanced traders i | ||
| Webinars i | ||
| Tutorials i | ||
| Glossary i | ||
| Research | ||
| Economic calendar i | ||
| Traders' sentiment i | ||
| Daily market commentary i | ||
| Daily trading ideas i | ||
| News via social media i | ||
| Professional reports i | ||
| Watchlist i | ||
FP Markets vs IC Markets: which one should you choose?
FP Markets
CFD/FX Choose FP Markets if you want an online CFD broker with no minimum deposit, a wide choice of markets and copy trading.
Open Account CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
IC Markets
CFD/FX Choose IC Markets if you want a CFD and forex broker for high-frequency trading strategies, with fast execution and low spreads.
Open Account CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.Other popular comparisons
Below are other head-to-head comparisons that include FP Markets or IC Markets, each scored with the same data and method as this page.
