IC Markets vs FP Markets
Two Australian raw-spread brokers with ASIC and CySEC licences and near-identical account structures. Both pass through raw spreads with a commission of around $3 to $3.50 per side and offer MetaTrader and cTrader. FP Markets adds IRESS for share trading; IC Markets adds TradingView.
| IC Markets | FP Markets | |
|---|---|---|
| Editorial score | 9.5 / 10 | 7.9 / 10 |
| Regulation | ASIC, CySEC, Seychelles FSA, Bahamas SCB, Kenya CMA | ASIC, CySEC, FSCA, Seychelles FSA, Mauritius FSC, CMA Kenya |
| Minimum deposit | $200 | $100 |
| Spread from | 0.0 pips | 0.0 pips |
| Maximum leverage | 1:30 retail under ASIC/CySEC; higher under international entities | 1:30 retail |
| Platforms | MetaTrader 4, MetaTrader 5, cTrader, TradingView | MetaTrader 4, MetaTrader 5, cTrader, TradingView, IRESS |
| Markets | Forex, Commodities, Shares, Indices, Bonds, Cryptocurrencies, Futures | Forex, Shares, Indices, Commodities, Metals, ETFs, Bonds, Cryptocurrencies |
| Demo account | Yes | Yes |
| Founded | 2007 | 2005 |
| Headquarters | Mahé, Seychelles | Sydney, Australia |
The practical difference is execution and liquidity, which is why traders often demo both at their own hours before choosing.
Verdict. A close call; test both raw accounts at your trading hours and let the average spread and fills decide.
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Figures are each provider's published terms at the last check and can change. Trading and prop-firm evaluations carry a high risk of losing money. We may earn a commission through links. Affiliate disclosure.