FP Markets vs IC Markets
The two ASIC-regulated Australian ECN brokers most compared by serious traders. Both founded mid-2000s, both 0.0 pip raw spreads, both with cTrader. Differentiation comes down to commission rates, Trustpilot reputation, and whether you need Iress for DMA share CFD access.
FP Markets wins on cost and instrument breadth. $3/lot commission (vs IC Markets $3.50), 10,000+ instruments via Iress (vs IC Markets ~200), highest Trustpilot rating in retail forex (4.7★ from 7,400+ vs IC Markets 4.5★), $100 min vs $200 at IC Markets. IC Markets wins on raw execution speed and pure cTrader liquidity — 40ms average fills vs FP Markets 45ms, and the deepest cTrader liquidity pool. For algo traders or scalpers running 100+ trades/day, IC Markets' execution edge matters. For everyone else, FP Markets' cost and instrument advantages compound faster.
Head-to-Head Comparison
| Feature | FP Markets | IC Markets |
|---|---|---|
| Score | 4.6/5 | 4.7/5 |
| Min Deposit | $100 | $200 |
| Spreads | 0.0 pips (Raw) | 0.0 pips (Raw) |
| Regulation | ASIC, CySEC, FSA | ASIC, CySEC, FSA |
| Founded | 2005 | 2007 |
| HQ | Australia | Australia |
| Platforms | MT4, MT5, cTrader, Iress | MT4, MT5, cTrader |
| Trustpilot | 4.7★ (7,400 reviews) | 4.6★ (41,000 reviews) |
| Islamic Account | Yes | Yes |
Spreads & Fees
Both hit 0.0 pips on EUR/USD during peak hours. Commission: FP Markets Raw ECN $3/lot/side ($6 round-turn); IC Markets Raw $3.50/lot/side ($7 round-turn). On 50 standard lots/month, FP Markets saves $50. On 200 lots/month, $200. Over a year of active trading, $600-2,400 — non-trivial. Both offer near-identical spreads on gold, indices, major crypto CFDs.
Regulation & Safety
Both hold ASIC and CySEC. FP Markets ASIC-regulated since 2005 (20+ years); IC Markets since 2007 (18 years). Both segregate client funds + negative balance protection. For 'regulatory depth' as trust signal, equivalent. FP Markets edges ahead on Trustpilot density — 7,400+ reviews at 4.7★ vs IC Markets 41,000+ at 4.5★. IC Markets has more reviews; FP Markets has higher rating density.
Platforms & Tools
Both offer MT4, MT5, cTrader. FP Markets adds Iress (DMA share CFDs across ASX/NYSE/NASDAQ/LSE, 10,000+ instruments) and TradingView. IC Markets adds nothing else. If you want share CFDs alongside forex on one account, FP Markets is the only option. IC Markets' cTrader liquidity pool is deeper (flagship since 2010), slightly faster cTrader-specific fills, but on standard MT4/MT5 trading the difference is negligible.
You want the lowest per-lot commission of any ASIC ECN broker ($6 vs $7 round-turn), DMA share CFDs via Iress across 10,000+ instruments, the highest Trustpilot rating density in retail forex (4.7★), or lower minimum deposit ($100 vs $200). FP Markets quietly wins on cost and instrument breadth — $50-200/month saving for active traders.
Open FP Markets Account →You prioritize the deepest cTrader liquidity pool, run high-frequency strategies needing sub-50ms execution (40ms vs 45ms average), or want the most-reviewed Australian ECN broker on Trustpilot (41K+ reviews). IC Markets is the default for scalpers, prop firm challenge runners, and HFT-curious traders.
Open IC Markets Account →Can't Decide?
We recommend FP Markets
FP Markets scored 4.6/5 in our testing. $100 minimum deposit, ASIC, CySEC, FSA regulated.
Open FP Markets Account →We opened live accounts with both brokers, deposited real funds, and tested spreads, execution, and withdrawals over 30 days. Scores are based on our transparent methodology. Last updated: April 2026.
CFDs are complex instruments. 74-89% of retail accounts lose money. Data accurate April 2026.