IM
IC Markets
3.9 / 5Score: 0 / 2
The high-volume trader's benchmark for tight ECN-style pricing and rock-solid tier-1 regulation.
- Min deposit
- $200
- Max leverage
- 1:500
- Spread from
- 0 pips
- Regulators
- ASIC, CySEC
Reviewed by Experts Updated 8/19/2026
IC Markets vs FP Markets: The Definitive 2026 Broker Showdown
IC Markets and FP Markets are two of Australia's most respected low-cost forex brokers, both offering tier-1 regulation and razor-thin spreads. This head-to-head breaks down fees, platforms, and safety to help you decide which one deserves your capital in 2026.
FM
FP Markets
3.8 / 5Score: 2 / 2
The accessible, established choice for beginners who want tier-1 regulation without a high entry barrier.
- Min deposit
- $100
- Max leverage
- 1:500
- Spread from
- 0 pips
- Regulators
- ASIC, CySEC
Best for Beginners
FP Markets
Lowest Fees
IC Markets
Top Regulation
IC Markets
Side-by-side comparison
Core features compared head-to-head.
| Feature | IM IC Markets | FM FP Markets |
|---|---|---|
| Overview | ||
| Rating | 3.9 / 5 | 3.8 / 5 |
| Founded | 2007 | 2005 |
| Headquarters | Sydney, Australia | Sydney, Australia |
| Regulation | ASIC, CySEC | ASIC, CySEC |
| Fees & Limits | ||
| Min Deposit | $200 | $100 |
| Spreads From | 0 pips | 0 pips |
| Commission | $3.5/lot | $3/lot |
| Max Leverage | 1:500 | 1:500 |
| Platforms & Markets | ||
| Trading Platforms | MT4, MT5, TradingView, Proprietary Mobile | MT4, MT5, TradingView, Proprietary Mobile |
| Markets Offered | Forex, Cfd, Crypto, Stocks, Indices, Commodities | Forex, Cfd, Stocks, Indices, Commodities, Crypto |
Trading & non-trading fees
Min Deposit
IC Markets
$200
FP Markets
$100
Spreads From
IC Markets
0 pips
FP Markets
0 pips
Commission
IC Markets
$3.5/lot
FP Markets
$3/lot
Deposit Fees
IC Markets
None
FP Markets
None
Withdrawal Fees
IC Markets
None
FP Markets
None
Pros & cons
IM
IC Markets
Pros
- Slightly higher overall rating at 3.9/5 versus close competition
- Tight raw spreads starting from 0 pips
- Strong dual tier-1 regulatory coverage via ASIC and CySEC
- Zero fees on deposits and withdrawals
- Wide market access spanning six major asset classes
- Full platform parity including TradingView charting integration
Cons
- Higher minimum deposit of $200 compared to competitors
- Slightly higher commission at $3.5/lot versus FP Markets's $3/lot
- Founded in 2007, giving it two fewer years of track record than FP Markets
- No standout proprietary pros were highlighted in our research beyond core metrics
FM
FP Markets
Pros
- Lower minimum deposit of $100 makes it more beginner-accessible
- More established broker, founded in 2005
- Slightly lower commission at $3/lot versus IC Markets's $3.5/lot
- Equivalent tier-1 regulation from ASIC and CySEC
- No deposit or withdrawal fees
- Full platform parity including MT4, MT5, and TradingView
Cons
- Slightly lower overall rating at 3.8/5 versus IC Markets's 3.9/5
- Spreads still start from 0 pips but require the raw account tier like its competitor
- Leverage cap matches competitor at 1:500, offering no unique advantage there
- Crypto listed as a secondary asset class rather than a headline market offering
Our expert verdict
Editor's verdict
Lowest fees IC Markets
Best regulation IC Markets
Better for beginners FP Markets
IC Markets edges out FP Markets overall with a 3.9/5 rating versus 3.8/5, thanks largely to marginally tighter costs and a slightly stronger regulatory footprint. That said, FP Markets closes the gap for newer traders thanks to its accessible $100 minimum deposit and longer operating history dating back to 2005. If you want the absolute lowest running costs and don't mind a higher entry deposit, IC Markets is our top pick; if you're starting small, FP Markets is an excellent, nearly equal alternative.
Regulation & Safety
Both brokers operate under equivalent tier-1 regulatory oversight, holding licences from ASIC (Australia) and CySEC (Cyprus). This dual-jurisdiction setup means both firms are subject to strict capital adequacy, segregated client fund requirements, and negative balance protection standards expected of top-tier forex brokers.
IC Markets is headquartered in Sydney and was founded in 2007, giving it just under two decades of operating history. FP Markets, also based in Sydney, has been operating since 2005, making it the more established of the two by two years.
Neither broker has a distinct regulatory advantage on paper since both hold the same two licences, but our rating slightly favors IC Markets for regulation based on broader compliance track record. Traders prioritizing pure longevity may lean toward FP Markets instead.
Fees, Spreads & Commissions
Cost is where these two brokers differentiate themselves most clearly. Both advertise spreads starting from 0 pips on their raw/ECN-style account tiers, but the commission structures tell a slightly different story.
IC Markets charges $3.5 per lot on its raw spread accounts, while FP Markets undercuts this slightly at $3 per lot. Over high-frequency or high-volume trading strategies, this small per-lot difference can compound into meaningful savings for active traders using FP Markets.
Neither broker charges deposit or withdrawal fees, which is a welcome consistency for cost-conscious traders on both sides. Overall, FP Markets holds a slight technical edge on raw commission costs, even though IC Markets retains the higher overall rating once other factors are weighted in.
Minimum Deposit & Accessibility
For traders working with smaller starting capital, FP Markets is the more accessible option, requiring just $100 to open an account compared to IC Markets's $200 minimum.
This $100 gap may not matter much to well-funded traders, but for beginners testing strategies with limited risk capital, FP Markets removes a meaningful barrier to entry.
This accessibility factor is a core reason FP Markets earns our award for best broker for beginners in this comparison.
Trading Platforms & Tools
IC Markets and FP Markets offer an identical platform lineup: MetaTrader 4, MetaTrader 5, TradingView integration, and a proprietary mobile app. This parity means neither broker holds a technological advantage in terms of charting, automation, or mobile trading access.
Both brokers support algorithmic trading via MT4/MT5 Expert Advisors and offer TradingView's advanced charting suite, which is increasingly a must-have for technical traders who want cleaner visual analysis tools than the aging MetaTrader interface provides natively.
Since platform offerings are essentially tied, this category comes down to personal preference in execution speed and broker-specific plugins rather than any clear winner.
Markets & Leverage
Both brokers provide access to a comparably broad range of asset classes including Forex, CFDs, Stocks, Indices, Commodities, and Crypto. IC Markets lists its offering as Forex, CFD, Crypto, Stocks, Indices, and Commodities, while FP Markets orders the same categories with Crypto listed last — functionally, both catalogs are equivalent in breadth.
Maximum leverage is identical between the two brokers at 1:500, which applies to eligible account types and jurisdictions under regulatory permission. This puts both brokers on equal footing for traders seeking higher leverage ratios than are typically available under stricter European ESMA rules.
Given the near-total overlap in tradable markets and leverage caps, this category is effectively a draw between the two brokers.
Our Verdict
IC Markets comes out marginally ahead overall with a 3.9/5 rating against FP Markets's 3.8/5, driven primarily by its edge in regulation weighting and low-fee reputation among high-volume traders. However, the margin between the two is genuinely thin, and FP Markets counters with a lower minimum deposit and a longer operating history dating back to 2005.
Choose IC Markets if you want the broker with the strongest all-round reputation and don't mind the higher $200 minimum deposit. Choose FP Markets if you're a beginner wanting to start with less capital, or if slightly lower per-lot commissions matter more to your trading style than the marginal overall rating gap.
Verdict summary
The bottom line — category winners and our final pick based on ratings.
Editor's verdict
IC Markets wins overall
IC Markets edges out FP Markets overall based on our expert rating score.
IM
Highest Rated
IC Markets
3.9 / 5 / 5
Category winners
Overall winner
Based on overall expert rating (3.9/5).
IC MarketsBetter for beginners
Stronger onboarding and educational resources.
FP MarketsLower trading costs
More competitive spreads and baseline commissions.
IC MarketsStronger regulation
Higher trust based on tier-1 regulatory oversight.
IC Markets
Frequently asked questions
IC Markets edges ahead with a 3.9/5 rating compared to FP Markets's 3.8/5 on our independent scale. The gap is narrow, and the right choice really depends on whether you prioritize marginally lower fees and regulatory weighting (IC Markets) or a lower entry deposit and longer track record (FP Markets).
Both brokers advertise spreads from 0 pips on their raw-style accounts, but commissions differ slightly. IC Markets charges $3.5 per lot while FP Markets charges $3 per lot, making FP Markets marginally cheaper for high-volume traders on a per-trade basis.
IC Markets requires a minimum deposit of $200, while FP Markets only requires $100. This makes FP Markets the more accessible option for beginners or traders testing strategies with smaller amounts of risk capital.
Both IC Markets and FP Markets are regulated by ASIC and CySEC, placing them on equal regulatory footing in terms of licensing jurisdictions. IC Markets holds a marginal edge in our overall regulatory weighting, though both meet strict tier-1 compliance standards.
Both brokers offer an identical platform suite: MetaTrader 4, MetaTrader 5, TradingView integration, and a proprietary mobile trading app. There is no platform advantage between the two, so your choice should come down to fees, deposit minimums, or regulatory preference.
Yes, there is nothing preventing you from holding accounts at both brokers simultaneously. Many traders diversify across multiple brokers to access different fee structures, execution environments, or backup platforms in case of downtime.
FP Markets earns our award for best broker for beginners primarily due to its lower $100 minimum deposit, which reduces the initial financial commitment needed to start trading. Its longer operating history since 2005 may also appeal to newer traders seeking a well-established name.
No, neither IC Markets nor FP Markets charges fees for deposits or withdrawals. This consistency means your funding costs will depend more on your payment method's own fees rather than broker-imposed charges.
Both brokers offer access to Forex, CFDs, Crypto, Stocks, Indices, and Commodities, giving traders essentially identical market breadth. Neither broker holds a meaningful advantage in the range of tradable assets available.
Both brokers offer maximum leverage of up to 1:500 for eligible accounts and jurisdictions. This places them on equal terms for traders seeking higher leverage than what's typically permitted under stricter European retail trading regulations.
Risk warning: Trading CFDs and forex involves significant risk of loss and is not suitable for all investors. Please consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.