FP Markets vs IC Markets

FP Markets is the better all-round choice for most traders in 2026, while IC Markets is particularly strong for dedicated forex scalpers, algorithmic traders and traders already committed to the cTrader ecosystem.

FP Markets has three practical advantages: its MetaTrader Raw account charges US$3 per lot per side compared with US$3.50 at IC Markets, it advertises more than 10,000 financial instruments compared with more than 2,250 at IC, and its Raw and Standard accounts have a clearly stated US$100 minimum deposit. IC Markets counters with extremely competitive forex spreads, a mature low-latency trading environment and an especially strong setup for Expert Advisors, scalping and automated trading.

For traders mainly interested in forex, the result is much closer than the headline commission suggests. For traders who want forex plus a much broader selection of shares, indices, commodities and other CFDs, FP Markets gets the overall win.

Important naming note: IC Markets is now transitioning its consumer brand to IC. The company officially described the change in 2026 as an evolution from IC Markets to IC, and the main website migrated from icmarkets.com to ic.com on 11 July 2026. The legacy IC Markets name remains highly relevant because traders still search for and recognise the broker by that name.

FP Markets vs IC Markets at a glance

Account conditions depend on the legal entity, jurisdiction, instrument and platform. The global leverage and pricing shown above should not be assumed to apply to every client.

Is FP Markets or IC Markets cheaper?

FP Markets charges US$3 per standard lot per side, equivalent to US$6 round turn, on its Raw account. IC Markets charges US$3.50 per standard lot per side, or US$7 round turn, on its MetaTrader Raw Spread account. Both advertise Raw spreads from 0.0 pips.

The comparison changes slightly on cTrader. IC charges US$3 per US$100,000 traded per side on its cTrader Raw Spread account, while FP Markets lists US$3 per lot per side for its Raw offering. For a standard US$100,000 forex position, the headline commission is therefore effectively comparable.

IC Markets has the advantage on commission-free accounts. Its Standard MetaTrader account currently starts from 0.8 pips, while the FP Markets Standard account starts from 1.0 pip.

What do real all-in forex costs look like?

Minimum spreads are not the same as average trading costs. A broker can advertise a 0.0-pip minimum while spending relatively little trading time at that price.

A July 2026 third-party Raw/ECN spread audit compared spreads plus standard MT4/MT5 commissions and reported the following all-in costs:

In that dataset, FP Markets was cheaper on three of the five pairs, IC Markets was cheaper on AUD/USD, and USD/CAD was equal. The differences were generally small, which is why declaring either broker universally cheaper based only on its commission is misleading.

Verdict on fees: FP Markets gets a narrow win for Raw MetaTrader pricing. IC Markets remains extremely competitive and can be cheaper on particular instruments or platforms.

Which broker is better for scalping and algorithmic trading?

IC Markets explicitly built its Raw Spread account around day traders, scalpers and Expert Advisors. The broker states that its MetaTrader Raw servers are located in the Equinix NY4 data centre in New York and that Raw pricing can be aggregated from up to 25 institutional-grade pricing sources. IC also states that its average EUR/USD Raw spread is 0.1 pips.

IC's cTrader infrastructure is another advantage for systematic traders. The cTrader environment includes depth of market, volume-weighted average price information, advanced order types and cTrader Algo functionality for automated strategies.

FP Markets is not weak here. Its Raw account supports Expert Advisors, cTrader, MT4, MT5 and TradingView, with spreads from 0.0 pips and VPS availability. FP Markets also describes its pricing as ECN pricing.

The difference is focus. FP Markets supports algorithmic trading well; IC Markets has built more of its product identity around it.

Does FP Markets or IC Markets have faster execution?

FP Markets currently advertises average execution below 8 milliseconds, based on internal company analysis covering a stated reporting period from March 2025 to March 2026. IC states that its average execution speed is below 40 milliseconds once an order has been received.

An 8 ms versus 40 ms comparison looks decisive until the methodology is examined. Different brokers can measure execution from different points in the order lifecycle, on different servers, instruments and market conditions.

For most retail traders, spread quality, slippage, rejected orders, liquidity at the requested size and consistency during volatile periods matter more than an isolated headline latency number.

Neither broker should therefore win solely because one marketing page publishes a smaller millisecond figure.

Which has better trading platforms: FP Markets or IC Markets?

Both brokers support:

• MetaTrader 4
• MetaTrader 5
• cTrader
• TradingView
• Desktop, web and mobile trading
• Expert Advisors and automated strategies

FP Markets also provides proprietary web and mobile trading options, social trading, Signal Start, Myfxbook integrations and MAM/PAMM functionality.

IC supports MetaTrader, cTrader and TradingView alongside a broader advertised social trading stack that includes IC Social, cTrader Copy, ZuluTrade, MyfxBook AutoTrade and Signal Start.

There is one useful distinction for TradingView users: IC currently requires a cTrader Raw account to trade through TradingView.

Platform verdict: tie for conventional MT4, MT5, cTrader and TradingView traders. IC gets a slight edge for copy trading and automation.

Which broker offers more markets?

FP Markets currently advertises 10,000+ financial instruments across forex, shares, metals, commodities, indices, digital currencies, ETFs and bonds. Its forex offering includes more than 70 currency pairs.

IC currently advertises 2,250+ tradable instruments on its global offering. Its current range includes forex, shares, commodities, indices, bonds, cryptocurrencies and futures CFDs.

The raw instrument count matters most if you trade equities and less common CFDs. A forex trader using ten major currency pairs gains very little from having another 7,000 share CFDs available.

For a genuinely multi-asset trader, though, this category is not close.

Market range verdict: FP Markets wins.

Is FP Markets safer than IC Markets?

FP Markets operates through multiple entities. Its current regulatory information includes First Prudential Markets Pty Ltd under ASIC with AFS Licence 286354, First Prudential Markets Ltd under CySEC licence 371/18, FP Markets (Pty) Ltd under South Africa's FSCA with FSP 50926, and regulated operations in jurisdictions including Seychelles and Kenya.

IC also operates through different legal entities. International Capital Markets Pty Ltd holds Australian Financial Services Licence 335692, IC Markets (EU) Ltd is regulated by CySEC under licence 362/18, and the global IC / IC Markets Global business is a trading name of Raw Trading Ltd, regulated by the Seychelles Financial Services Authority under licence SD018.

This distinction is critical. Opening an account with an offshore entity does not give you every client protection associated with the broker's Australian or European licence. Available leverage, negative balance treatment, complaints processes and other protections can differ between entities.

FP Markets therefore wins on breadth of regulatory coverage, but traders should verify the exact contracting entity presented during registration rather than judging either broker from a list of group licences.

FP Markets vs IC Markets minimum deposit

FP Markets states that both its Standard and Raw forex accounts require US$100 or equivalent.

IC's current Help Centre says a trading account can be opened without a minimum deposit requirement, and its account comparison lists a US$0 minimum. A separate current IC forex page says that a US$200 deposit gives full access to all markets.

The sensible interpretation is that IC does not currently enforce US$200 as a universal account-opening minimum, although US$200 remains practical funding guidance on parts of its website.

That distinction matters because many older IC Markets comparisons still present "$200 minimum deposit" as an unconditional specification.

Which broker offers higher leverage?

FP Markets currently lists maximum leverage of 1:500 on its Standard and Raw global forex accounts.

IC currently advertises flexible leverage ranging as high as 1:5000 on eligible global accounts, although maximum leverage varies by platform, product, position size and jurisdiction. IC also states that leverage can change dynamically.

Regulated regional entities can impose far lower limits. For example, IC Markets (EU) Ltd states that retail clients are limited to leverage of up to 1:30, while eligible professional clients can access higher leverage.

For experienced traders specifically seeking high leverage, IC wins. For everyone else, leverage should be treated as a risk parameter rather than a broker-quality score.

Who should choose FP Markets?

FP Markets makes the most sense for traders who value a lower Raw MetaTrader commission, a much larger CFD instrument range, a straightforward US$100 deposit requirement and access to MT4, MT5, cTrader and TradingView under one broad multi-asset proposition.

FP Markets is also the better fit if you regularly move between forex, equity CFDs, indices, commodities and other markets rather than specialising almost exclusively in currencies.

Who should choose IC Markets?

IC's Raw Spread infrastructure, published 0.1-pip average EUR/USD spread, NY4 hosting, cTrader environment and broad social trading integrations make it especially attractive to active forex traders.

IC is also more compelling if you specifically want very high leverage through an eligible global entity, although the additional leverage materially increases risk.

FP Markets vs IC Markets: final verdict

FP Markets combines a US$3-per-side Raw MetaTrader commission, 10,000+ instruments, a US$100 minimum deposit and a broad multi-jurisdiction regulatory footprint. That package makes FP Markets the more versatile choice for the average active trader.

IC Markets is the better specialist choice for forex scalpers, Expert Advisor users and algorithmic traders. Its Raw environment remains highly competitive, its published EUR/USD average spread is exceptionally low, and its execution and platform ecosystem has been designed heavily around active and automated forex trading.

The cleanest decision is therefore:

FP Markets for the better all-round broker. IC Markets for the more specialised forex and algorithmic trading setup.

Before opening either account, check which FP Markets or IC legal entity will actually hold the account in your country. Pricing, leverage, available instruments and regulatory protections vary by jurisdiction.

CFDs and leveraged derivatives carry substantial risk and are not suitable for every investor. Higher leverage magnifies losses as well as gains.