Head to head
FP Markets vs IC Markets
FP Markets is licensed by ASIC in Australia, CySEC in the European Union and CMA in Kenya, and also has an offshore registration. IC Markets is licensed by ASIC in Australia, CySEC in the European Union and SCB in The Bahamas, and also has an offshore registration. The licence that applies to you depends on where you live, so check which company you would contract with before comparing anything else.
On its cheapest account per lot, FP Markets costs about $7.9 per standard lot on EUR/USD (Raw account: 0.2 pips plus $6 commission); IC Markets costs about $8 (Raw Spread (MetaTrader) account: 0.1 pips plus $7 commission). On these typical figures FP Markets is $0.1 cheaper per lot, or $1 a month at 10 lots. Swap and other fees are extra.
Minimum deposits start at $100 at FP Markets and $0 at IC Markets. Only FP Markets offers negative balance protection. Both offer segregated client money.
Facts last checked: FP Markets on 20 October 2026, IC Markets on 20 October 2026.
Monthly cost uses the account chosen in each slot: cost per lot × your lots. Swap and other fees are extra. The lowest monthly cost is highlighted only as a fact about cost, not as a recommendation.
Broker
Comparing
FP MarketsRaw account · Australia
IC MarketsRaw Spread (MetaTrader) account · Australia
Overview
Founded
2005
Not yet checked
Headquarters
Sydney, Australia
Sydney, Australia
Official websites
- fpmarkets.com
- fpmarkets.eu
- fpmarkets.co.ke
- icmarkets.com
- icmarkets.sc
- icmarkets.eu
- icmarkets.com.au
- icmarkets.bs
- ic.com
Facts last checked
20 October 2026
20 October 2026
Regulation and protection
Company you would contract with
First Prudential Markets Pty Ltd
International Capital Markets Pty Ltd
Regulation level
Strictly regulated
Strictly regulated
Clients this company serves
Australian residents
Australian residents
All licences held
- ASIC (Australia)
- CySEC (European Union)
- CMA (Kenya)
- FSA Seychelles (Seychelles)
- ASIC (Australia)
- CySEC (European Union)
- SCB (The Bahamas)
- FSA Seychelles (Seychelles)
ICF up to €20,000 (Cyprus company); none for the Australian, Seychelles or Saint Lucia companies
ICF up to €20,000 (IC Markets EU only); none for the Seychelles or Bahamas companies
Costs
Your monthly cost
$79$7.9 per lot × 10 lots
$80$8 per lot × 10 lots
Typical GBP/USD spread
0.5 pips
Not yet checked
Typical USD/JPY spread
0.6 pips
Not yet checked
Typical XAU/USD spread
10 cents
Not yet checked
Leverage and margin
1:30 on major pairs (Australia, EU); up to 1:500 at the international companies
1:30 (EU, Australia); up to 1:5000 at the Seychelles company
Retail leverage by asset class
- Major currency pairs (Australia: 1:30
- Currency pairs (international companies): up to 1:500
- Major currency pairs (EU and Australian retail): 1:30
- All account types (Seychelles company): Up to 1:5000
Stop-out level
Not yet checked
50%
Account
Minimum deposit (this account)
$100
$0
Raw spread plus US$3 commission per lot each way (MT4, MT5, cTrader, TradingView)
Raw spread plus $3.50 per lot per side
Platforms and features
Platforms
- MetaTrader 4
- MetaTrader 5
- cTrader
- TradingView
- WebTrader
- MetaTrader 4
- MetaTrader 5
- cTrader
- TradingView
- Web platform
Markets
70+ currency pairs, metals, indices, commodities, share CFDs and crypto CFDs
Forex, commodities, indices, metals, bonds, share CFDs and crypto CFDs (2,250 instruments on MetaTrader)
Copy trading
Not yet checked
Not yet checked
Expert advisors (automated trading)
Yes
Yes
News trading allowed
Not yet checked
Not yet checked
Guaranteed stops
Not yet checked
Not yet checked
Deposits and withdrawals
Deposit methods
- Bank wire
- Visa
- Mastercard
- Skrill
- Neteller
- Crypto
- Broker-to-broker transfer
- Credit card
- Debit card
- PayPal
- Neteller
- Skrill
- Bank transfer
- Cryptocurrency
- UnionPay
- Broker to broker transfer
Withdrawal fee
Not yet checked
Not yet checked
Inactivity fee
Not yet checked
Not yet checked
Support
Customer support
Not yet checked
24 hours a day, Monday to Sunday
Our notes
Strengths
- Licensed by ASIC and CySEC, with retail client money held separately from company funds
- Publishes average spreads per account (EUR/USD 1.29 pips Standard, 0.19 pips Raw)
- Wide platform choice, including cTrader and TradingView
- Australian and EU companies licensed by strict regulators (ASIC and CySEC)
- Published average EUR/USD spread of 0.1 pips on the Raw Spread account, with commission set out per currency
- Client money held in segregated accounts, according to each IC company
- Wide platform choice, including cTrader and TradingView
Watch out for
- The international website is operated by FP Markets Ltd, a Saint Lucia company (registration 2025-00853) that holds no financial licence; check which company your client agreement names.
- International clients may be placed with the Seychelles company (offshore tier), with leverage up to 1:500 and no compensation scheme
- Says FP Markets (Pty) Ltd is an FSCA-authorised financial services provider (FSP 50926); we could not confirm it on the FSCA register on 2026-10-20 because the register could not be reached.
- International clients join Raw Trading Ltd, regulated only in Seychelles (offshore), where leverage goes up to 1:5000
- The Seychelles company's risk warning says losses may exceed the amount you deposit
- The Standard account's typical spread is not published (it quotes "from 0.8 pips")
- Brand changing from IC Markets to IC, with several regional domains; check you are on one listed here
Choose at least one broker above to start comparing.
Risk warnings
The buttons to a broker’s website above the table are partner links: we may earn a commission if you open an account through them. That never changes the facts shown here. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Each broker’s own warning:
- FP Markets: Derivative products are highly leveraged, carry a high level of risk and may not be appropriate for all investors. The legal documents should be considered before entering into transactions with us.
- IC Markets: Risk Warning: Trading in securities involves significant risk. Prices may fluctuate and securities can become entirely valueless. You may incur losses that exceed your potential profits, and in some cases, losses may exceed the amount you have deposited. Securities, futures, options, and contracts for differences are complex financial instruments and are not suitable for all investors. Engaging in such transactions requires a sound understanding of the associated risks. Please read and ensure you fully understand our Risk Disclosure.
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Cost per lot is the typical EUR/USD spread in busy hours × $10, plus any round-turn commission, for one standard lot. “Not yet checked” means we have not confirmed that fact yet. This page compares facts; it does not rank the brokers or recommend either. Confirm costs and licences on each broker’s site and the regulator’s public register before opening an account: see how we review brokers and check a broker yourself.
Nothing on this page is financial advice. Read the full disclaimer.