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Head to head

FP Markets vs IFC Markets

FP Markets is licensed by ASIC in Australia, CySEC in the European Union and CMA in Kenya, and also has an offshore registration. IFC Markets is licensed by Labuan FSA in Labuan, Malaysia, 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); IFC Markets costs about $18 (Classic Standard (fixed spread) account: 1.8 pips, no commission). On these typical figures FP Markets is $10.1 cheaper per lot, or $101 a month at 10 lots. Swap and other fees are extra.

Minimum deposits start at $100 at FP Markets and $15 at IFC Markets (the Classic Standard (fixed spread) account needs $1,000). Both offer negative balance protection. Only FP Markets offers segregated client money.

Facts last checked: FP Markets on 20 October 2026, IFC Markets on 20 October 2026.

FP Markets profileIFC Markets profile
Broker 1
Broker 2
Broker 3

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
FP MarketsStrictly regulatedRead the profile
IFC MarketsOffshore registration onlyRead the profile
Comparing
FP MarketsRaw account · Australia
IFC MarketsClassic Standard (fixed spread) account · British Virgin Islands

Overview

Founded
2005
2006
Headquarters
Sydney, Australia
Not yet checked
Official websites
  • fpmarkets.com
  • fpmarkets.eu
  • fpmarkets.co.ke
  • ifcmarkets.com
  • ifcmarkets.co.in
  • ifcmarkets.ae
  • ifcmarkets.hk
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
First Prudential Markets Pty Ltd
IFCMARKETS. CORP.
Regulator
ASIC
Australia
BVI FSC
British Virgin Islands
Regulation level
Strictly regulated
Offshore registration only
Licence number
AFSL 286354
Check the register
SIBA/L/14/1073
Check the register
Clients this company serves
Australian residents
International clients (not residents of the US, Russia or the BVI)
All licences held
  • ASIC (Australia)
  • CySEC (European Union)
  • CMA (Kenya)
  • FSA Seychelles (Seychelles)
  • BVI FSC (British Virgin Islands)
  • Labuan FSA (Labuan, Malaysia)
Segregated client money
Yes
No
Negative balance protection
Yes
Yes
Compensation scheme
ICF up to €20,000 (Cyprus company); none for the Australian, Seychelles or Saint Lucia companies
None

Costs

Your monthly cost
$79$7.9 per lot × 10 lots
$180$18 per lot × 10 lots
Cost per lot (EUR/USD)
$7.9
$18
Spread from
0.0 pips
1.8 pips
Typical EUR/USD spread
0.2 pips
1.8 pips
Commission per lot (round turn)
$6
None
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
Swap-free account
Yes
Yes

Leverage and margin

Maximum retail leverage
1:30 on major pairs (Australia, EU); up to 1:500 at the international companies
1:400 on Micro and Nano accounts; 1:200 on Standard accounts
Retail leverage by asset class
  • Major currency pairs (Australia: 1:30
  • Currency pairs (international companies): up to 1:500
  • All instruments, Standard accounts: Up to 1:200
  • All instruments, Micro and Nano accounts: Up to 1:400
Margin call level
Not yet checked
Not yet checked
Stop-out level
Not yet checked
10%

Account

Minimum deposit (this account)
$100
$1,000
Base currencies
Not yet checked
USD, EUR, JPY
Execution
Raw spread plus US$3 commission per lot each way (MT4, MT5, cTrader, TradingView)
Instant execution, fixed spread, no commission (MT4 and NetTradeX)

Platforms and features

Platforms
  • MetaTrader 4
  • MetaTrader 5
  • cTrader
  • TradingView
  • WebTrader
  • NetTradeX
  • MetaTrader 4
  • MetaTrader 5
  • Web terminal
  • Mobile apps
Markets
70+ currency pairs, metals, indices, commodities, share CFDs and crypto CFDs
650+ CFDs on forex, metals, indices, stocks, commodities, ETFs and cryptocurrencies, plus self-built synthetic instruments
Demo account
Yes
Yes
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
  • Bank transfer
  • Bank card
  • Cryptocurrency
  • Open Banking
  • Local bank (Africa)
  • Mobile money
  • WebMoney
Withdrawal fee
Not yet checked
Bank wire at your bank's fee; card, crypto and e-wallet withdrawals carry fees that vary by method (for example 3% for Open Banking)
Inactivity fee
Not yet checked
Up to $10 a month after 12 months without trading, only while the balance is positive

Support

Customer support
Not yet checked
24/7 online support

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
  • Fixed 1.8-pip EUR/USD spread on Classic accounts, so costs are known in advance
  • Micro and Nano accounts from $15
  • Choice of NetTradeX, MT4 and MT5, with hedging or netting on MT5 and NetTradeX
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.
  • Licensed only in the BVI (offshore) and Labuan; no FCA, ASIC, CySEC or similar licence
  • Stop-out level of only 10%, so positions are closed late and losses can run far
  • Monthly inactivity fee of up to $10 after 12 months without trading
  • Standard accounts need a $1,000 first deposit

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.
  • IFC Markets: Your capital is at risk. Leveraged products may not be suitable for everyone.

Open this comparison in the full tool to share a link with your own accounts and companies chosen.

Other head-to-head pages

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.

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