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Head to head

FP Markets vs Interactive Brokers

FP Markets is licensed by ASIC in Australia, CySEC in the European Union and CMA in Kenya, and also has an offshore registration. Interactive Brokers is licensed by CFTC / NFA in the United States; CIRO in Canada; FCA in the United Kingdom; Central Bank of Ireland in the European Union; ASIC in Australia; MAS in Singapore and DFSA in Dubai (DIFC), UAE. The licence that applies to you depends on where you live, so check which company you would contract with before comparing anything else.

Minimum deposits start at $100 at FP Markets and $0 at Interactive Brokers. Only FP Markets offers negative balance protection. Both offer segregated client money.

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

FP Markets profileInteractive Brokers 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
Interactive BrokersStrictly regulatedRead the profile
Comparing
FP MarketsRaw account · Australia
Interactive BrokersUnited States

Overview

Founded
2005
Not yet checked
Headquarters
Sydney, Australia
Greenwich, Connecticut, United States
Official websites
  • fpmarkets.com
  • fpmarkets.eu
  • fpmarkets.co.ke
  • interactivebrokers.com
  • interactivebrokers.co.uk
  • interactivebrokers.ie
  • interactivebrokers.com.au
  • interactivebrokers.ca
  • interactivebrokers.com.sg
  • ibkr.com
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
First Prudential Markets Pty Ltd
Interactive Brokers LLC
Regulator
ASIC
Australia
CFTC / NFA
United States
Regulation level
Strictly regulated
Strictly regulated
Licence number
AFSL 286354
Check the register
NFA ID 0258600 (futures commission merchant)
Check the register
Clients this company serves
Australian residents
US residents; also clears and carries many accounts opened through the UK company
All licences held
  • ASIC (Australia)
  • CySEC (European Union)
  • CMA (Kenya)
  • FSA Seychelles (Seychelles)
  • CFTC / NFA (United States)
  • CIRO (Canada)
  • FCA (United Kingdom)
  • Central Bank of Ireland (European Union)
  • ASIC (Australia)
  • MAS (Singapore)
  • DFSA (Dubai (DIFC), UAE)
Segregated client money
Yes
Yes
Negative balance protection
Yes
No
Compensation scheme
ICF up to €20,000 (Cyprus company); none for the Australian, Seychelles or Saint Lucia companies
SIPC (US, securities only); FSCS in limited circumstances (UK); Irish Investor Compensation Scheme (Ireland); CIPF (Canada)

Costs

Your monthly cost
$79$7.9 per lot × 10 lots
No accounts listed
Cost per lot (EUR/USD)
$7.9
No accounts listed
Spread from
0.0 pips
No accounts listed
Typical EUR/USD spread
0.2 pips
No accounts listed
Commission per lot (round turn)
$6
No accounts listed
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
Not yet checked

Leverage and margin

Maximum retail leverage
1:30 on major pairs (Australia, EU); up to 1:500 at the international companies
1:30 on major pairs for CFDs (UK, EU, Australia)
Retail leverage by asset class
  • Major currency pairs (Australia: 1:30
  • Currency pairs (international companies): up to 1:500
  • Major currency pair CFDs: 1:30
  • Non-major currency pair: 1:20
  • Share CFDs: 1:5
Margin call level
Not yet checked
Not yet checked
Stop-out level
Not yet checked
Not yet checked

Account

Minimum deposit (this account)
$100
No accounts listed
Base currencies
Not yet checked
No accounts listed
Execution
Raw spread plus US$3 commission per lot each way (MT4, MT5, cTrader, TradingView)
No accounts listed

Platforms and features

Platforms
  • MetaTrader 4
  • MetaTrader 5
  • cTrader
  • TradingView
  • WebTrader
  • Trader Workstation (TWS)
  • IBKR Desktop
  • Client Portal
  • IBKR Mobile
  • IBKR APIs
Markets
70+ currency pairs, metals, indices, commodities, share CFDs and crypto CFDs
Spot forex, plus forex, index, metal and share CFDs (CFDs not offered to US or Canadian residents)
Demo account
Yes
Yes
Copy trading
Not yet checked
Not yet checked
Expert advisors (automated trading)
Yes
Not yet checked
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
Withdrawal fee
Not yet checked
Not yet checked
Inactivity fee
Not yet checked
None

Support

Customer support
Not yet checked
Phone, chat and secure message support, by region

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
  • Licensed in the US, Canada, UK, Ireland, Australia and Singapore, all strict regulators
  • Spot forex priced at the quoted interbank spread plus a published commission (0.20 basis points of trade value at the first tier)
  • No account minimum and no inactivity fee
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.
  • Spot forex commission has a minimum of USD 2.00 per order, so very small trades cost more in percentage terms.
  • UK accounts are cleared and carried by Interactive Brokers LLC in the US for most products; IBKR says products are only covered by the UK FSCS in limited circumstances.
  • Margin accounts can go negative; IBKR's own disclosures say losses may exceed your original investment
  • IBKR also names companies in Hong Kong, Japan and India; we did not confirm those licences on 2026-10-20 and this profile does not cover them.

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.
  • Interactive Brokers: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 58.9% of retail investor accounts lose money when trading CFDs with IBKR. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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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