Auto = Automatically transferred to MT4/MT5 by brokers system
IC Markets vs FP Markets: Which Forex Broker is the Best ? – Are you looking for a reliable forex broker to trade with? If yes, then you might have come across IC Markets and FP Markets. These two brokers are among the most popular forex brokers globally. But, which one is better for you ? we will compare IC Markets vs FP Markets based on their features, trading conditions, fees, and more to help you make an informed decision.
|Max. Leverage||1 : 500||1:500|
|Min. Trade Size||0.01||0.01|
|Trading Platform||Meta Trader 4, Meta Trader 5, cTrader and IC Social||MT4, MT5, cTrader and Social Trading|
|Markets offered||Forex, Indices, Stocks, Commodities, Cryptocurrencies||Forex, Indices, Stocks, Commodities, Cryptocurrencies, Currency index|
IC Markets Vs FP markets : Regulation and Security
Regulation and safety are important factors to consider when choosing a forex broker. Many traders use regulatory information to determine their choice of broker.
IC Markets is regulated by the Australian Securities and Investments Commission ( ASIC ), the Seychelles Financial Services Authority (FSA) , the Cyprus Securities and Exchange Commission ( CySEC ) and The Securities Commission of The Bahamas ( SCB ).
On the other hand, FP Markets is also regulated by several tier one regulators. FP Markets is regulated by the Australian Securities and Investments Commission (ASIC), the Financial Sector Conduct Authority ( FSCA ), the Financial Services Authority (FSA) of Saint Vincent & Grenadines and the Cyprus Securities and Exchange Commission ( CySEC ).
Both brokers have separate client funds, meaning client funds are held in separate bank accounts from the broker’s operating funds. In addition, both brokers use SSL encryption to protect clients’ personal and financial information.
|FSA of Saint Vincent & Grenadines|
IC Markets Vs FP markets : Trading Conditions
The trading conditions offered by a forex broker can significantly impact a trader’s profitability. When comparing IC Markets vs FP Markets, here are the trading conditions to consider:
- Trading Account Types : IC Markets account types are standard, Raw Spreads and cTrader, while FP Markets account types are Standard and Raw spread
- Spreads : IC Markets offers raw spreads starting from 0.0 pips on major currency pairs, while FP Markets offers spreads starting from 0.0 pips on its Raw Account and from 1.0 pips on its Standard Account.
- Leverage : Both brokers offer high leverage of up to 1:500.
- Trading Platforms : IC Markets offers the popular MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader platforms, while FP Markets offers MT4, MT5, and the IRESS platform.
- Trading Instruments : Both brokers offer a wide range of trading instruments, including forex, stocks, indices, commodities, and cryptocurrencies.
IC Markets Vs FP markets : Fees and Commissions
Fees and commissions can eat into a trader’s profits, so it’s essential to compare the costs of trading with IC Markets vs FP Markets. Here’s what you need to know:
- IC Markets charges a commission of $7 per standard lot on its Raw Spread account, while FP Markets charges a commission of $6 per standard lot on its Raw Account.
- IC Markets does not charge any deposit or withdrawal fees, while FP Markets does not charge any withdrawal fees either. Both brokers offer swap-free Islamic accounts.
IC Markets Vs FP markets : Funding Options
IC Markets and FP Markets are both well-known and respected brokers in the financial industry. They both offer a wide range of trading instruments, competitive spreads, and reliable platforms. However, when it comes to deposit and withdrawal options, they have some differences that traders need to consider.
|Deposit method||Crypto, BPAY, Credit/debit cards, FasaPay, Neteller, PayPal, Skrill, UnionPay and Wire transfer||Credit/debit cards, Local bank transfer, Dragonpay, FasaPay, Perfect Money, Neteller, Skrill, Wire transfer, XPay and Crypto currencies ( ETH, USDT etc )|
|Withdrawal method||Crypto, BPAY, Credit/debit cards, FasaPay, Neteller, PayPal, Skrill, UnionPay and Wire transfer||Credit/debit cards, Local bank transfer, Dragonpay, FasaPay, Perfect Money, Neteller, Skrill, Wire transfer, XPay and Crypto currencies ( ETH, USDT etc )|
In case of any issues, traders need to be able to reach their broker’s customer support promptly. IC Markets and FP Markets offer 24/7 customer support via live chat, email, and phone.
In conclusion, IC Markets and FP Markets are excellent forex brokers, and the choice between the two will depend on your preferences and trading needs. IC Markets is cheaper, offers tighter spreads, and has a wider range of educational resources. On the other hand, FP Markets has a wider range of trading instruments and offers a wider range of funding options. Between the two, both ic markets and fp markets both offer social trading which is useful for beginner traders or trading signal providers.
We hope this article helped you comparing IC Markets vs FP Markets and make an informed decision about which broker to choose. Remember to consider factors such as regulations, trading terms, fees and customer support before making a final decision.
IC Markets vs FP Markets: FAQs
- Which broker is cheaper: IC Markets vs FP Markets?
Ans: When it comes to costs, IC Markets is slightly cheaper than FP Markets, with lower commissions and no deposit or withdrawal fees.
- Which broker offers tighter spreads: IC Markets vs FP Markets?
Ans: IC Markets offers tighter spreads than FP Markets, starting from 0.0 pips on major currency pairs.
- Which broker has a better trading platform: IC Markets vs FP Markets?
Ans: Both brokers offer popular and reliable trading platforms, including MetaTrader 4 and 5. However, IC Markets also offers cTrader, which is a favorite among professional traders.
- Does IC Markets offer negative balance protection?
Ans: Yes, IC Markets offers negative balance protection, which means that traders cannot lose more than their account balance.
- Does FP Markets offer social trading?
Ans: Yes, FP Markets offers social trading through its partnership with Myfxbook.
- Which broker has better education and research tools?
Ans: Both brokers offer a range of education and research tools, including webinars, trading calculators, and market analysis. However, IC Markets has a more extensive range of educational resources, including video tutorials, trading courses, and eBooks.