IC Markets vs FP Markets
Two Australian ECN heavyweights go head to head. IC Markets is the world's most popular raw-spread broker; FP Markets holds the highest Trustpilot rating in the industry. We deposited real funds into both and tested spreads, slippage, and withdrawals over 30 days.
This is as close as broker comparisons get. IC Markets edges ahead on raw spread tightness (0.02 vs 0.05 pip average on EUR/USD) and execution speed (40ms vs 48ms), making it the better pick for pure scalpers. FP Markets counters with a lower commission ($3/lot vs $3.50), a higher Trustpilot rating (4.7 vs 4.6), and over 10,000 tradable instruments including share CFDs via Iress. Both are ASIC-regulated Australian ECN brokers with cTrader. Our verdict: a genuine tie — your choice depends on whether you prioritise execution speed or instrument diversity.
Head-to-Head Comparison
| Feature | IC Markets | FP Markets |
|---|---|---|
| Score | 4.7/5 | 4.6/5 |
| Min Deposit | $200 | $100 |
| Spreads | 0.0 pips (Raw) | 0.0 pips (Raw) |
| Regulation | ASIC, CySEC, FSA | ASIC, CySEC, FSA |
| Founded | 2007 | 2005 |
| HQ | Australia | Australia |
| Platforms | MT4, MT5, cTrader | MT4, MT5, cTrader, Iress |
| Trustpilot | 4.6★ (41,000 reviews) | 4.7★ (7,400 reviews) |
| Islamic Account | Yes | Yes |
Spreads & Fees
Both brokers offer 0.0 pip raw spreads, but the averages differ. IC Markets averaged 0.02 pips on EUR/USD during London sessions in our testing, while FP Markets came in at 0.05 pips — still exceptional, but IC Markets has the edge. On the commission side, FP Markets charges $3 per lot per side versus IC Markets' $3.50, which means FP Markets is cheaper per round turn by $1. For high-volume scalpers executing dozens of lots daily, FP Markets' lower commission can offset the marginally wider average spread. Neither broker charges deposit or withdrawal fees.
Regulation & Safety
Both brokers hold ASIC and CySEC licences, placing them firmly in Tier-1 regulatory territory. IC Markets also has an FSA (Seychelles) entity for international clients, as does FP Markets. Client funds are segregated at both brokers and held with major Australian banks. There is no meaningful regulatory advantage either way — both meet the highest standards for fund safety and transparency.
Platforms & Tools
Platform choice is where these brokers diverge. Both offer MT4, MT5, and cTrader, giving traders full flexibility across desktop and mobile. However, FP Markets adds Iress — a professional-grade platform for trading share CFDs across ASX, NYSE, and LSE with DMA pricing. IC Markets focuses on execution quality within its three platforms, boasting 40ms average execution. If you trade only forex and want the fastest fills, IC Markets wins. If you want forex plus direct share CFD access, FP Markets' Iress platform is a genuine differentiator.
You are a scalper or high-frequency trader who needs the absolute tightest raw spreads and fastest execution. IC Markets' 0.02 pip average and 40ms execution are industry-leading.
Open IC Markets Account →You want a multi-asset broker with 10,000+ instruments including share CFDs via Iress, lower commissions at $3/lot, and the highest Trustpilot rating in the industry at 4.7 stars.
Open FP Markets Account →Can't Decide?
Both are excellent choices
IC Markets (4.7/5) and FP Markets (4.6/5) are both top-tier brokers. Choose based on your priorities.
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.