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 | 4.8★ (10,207 reviews) | 4.8★ (54,898 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 →Cost-Per-Lot Reality Check
Beyond headline spread numbers, here's what each broker actually costs you on EUR/USD using their best ECN/raw account. The difference compounds with trading volume — at 100 standard lots per month, even a $1 commission gap means $1,200 per year.
| Trading Volume | FP Markets cost | IC Markets cost |
|---|---|---|
| Min deposit to open | $100 | $200 |
| EUR/USD raw spread | 0.0 pips (Raw) | 0.0 pips (Raw) |
| 10 lots/month (active retail) | $60-70 | $60-70 |
| 100 lots/month (serious trader) | $600-700 | $600-700 |
| 500 lots/month (prop firm pace) | $3,000-3,500 | $3,000-3,500 |
Ranges assume $6-7 round-turn commission ($3-3.50 per side) on raw ECN accounts during peak liquidity hours. Total trading cost = (spread × pip value) + commission. On EUR/USD 1 standard lot at 0.0 pip spread, total cost ≈ commission only. FP Markets wins this matchup overall — see "Quick Verdict" above for why.
Common Questions About FP Markets vs IC Markets
Which is better, FP Markets or IC Markets?
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.
When should I choose FP Markets?
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.
When should I choose IC Markets?
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.
How do spreads and commissions compare between FP Markets and IC Markets?
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.
How does regulation compare between FP Markets and IC Markets?
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.
What platforms do FP Markets and IC Markets support?
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.
Between FP Markets and IC Markets, the better choice for most traders in 2026 is FP Markets. It scored 4.6/5 in our testing versus IC Markets's 4.7/5, offers a $100 minimum deposit, and holds ASIC, CySEC, FSA regulation. FP Markets is the broker we'd open as the primary account in this matchup; IC Markets remains a valid secondary option if its specific edge (e.g. lower minimum deposit, specific platform integration, or geographic licensing) matters more to your particular setup. See the "Choose FP Markets if" and "Choose IC Markets if" blocks above for the specific trader profile each broker fits.
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: July 2026.
CFDs are complex instruments. 74-89% of retail accounts lose money. Data accurate July 2026.