FP Markets vs IC Markets - 2026 Broker Comparison

FP Markets

Regulatory Framework and Client Protections

FP Markets operates under dual regulation, holding licenses from two of the world's most respected financial regulators. This multi-jurisdictional oversight provides traders with a meaningful layer of legal and financial protection.

ASIC — Australian Securities and Investments Commission

FP Markets' primary license is held through First Prudential Markets Pty Ltd, regulated by ASIC under Australian Financial Services Licence number 286354. ASIC is widely regarded as one of the world's most rigorous financial regulators. Key client protections under ASIC oversight include:

• Segregated client funds held in top-tier Australian banks, entirely separate from the company's own operating capital
• Mandatory negative balance protection ensuring clients cannot lose more than their deposited funds
• Regular financial audits and reporting obligations to the regulator
• Strict capital adequacy requirements the broker must maintain at all times

CySEC — Cyprus Securities and Exchange Commission

FP Markets' European entity, FP Markets LLC, holds a CySEC license (number 371/18). CySEC regulation extends the broker's reach to European clients and adds an additional layer of credibility. Under CySEC, clients benefit from:

• Access to the Investor Compensation Fund (ICF), which covers eligible clients up to €20,000 in the event of broker insolvency
• Full compliance with MiFID II directives, including best execution policies
• Segregated funds held in EU-based financial institutions

For MENA traders, accounts are typically opened under the ASIC entity, providing the robust Australian regulatory framework. While there is no government-backed compensation scheme under ASIC equivalent to the ICF, the strict segregation of client funds and ASIC's enforcement record provide substantial practical protection.

IC Markets

IC Markets Regulation and Client Protection

IC Markets operates under three separate regulatory licences, which means the protections available to you depend on which entity your account is held with. Understanding these distinctions is essential before depositing funds.

• ASIC (Australia) — IC Markets Pty Ltd: The Australian Securities and Investments Commission is one of the most rigorous regulators in the world. ASIC-regulated accounts benefit from strict capital adequacy requirements, mandatory segregation of client funds in top-tier Australian banks, and regular independent audits. Retail leverage is capped at 1:30 for major forex pairs under ASIC rules. While there is no formal government compensation scheme for retail FX clients in Australia, the segregation requirements mean client funds are protected from the broker's insolvency.
• CySEC (Cyprus) — IC Markets (EU) Ltd: The Cyprus Securities and Exchange Commission provides access to the EU regulatory framework. CySEC clients benefit from the Investor Compensation Fund (ICF), which covers eligible retail clients up to €20,000 in the event of broker default. Leverage is capped at 1:30 under ESMA guidelines. This entity also falls under MiFID II directives, requiring best execution policies and enhanced client reporting.
• FSA (Seychelles) — Raw Trading Ltd: The Financial Services Authority of Seychelles is an offshore regulator that permits IC Markets to offer leverage up to 1:500 and serve clients from regions not covered by ASIC or CySEC. MENA traders are typically onboarded under this entity. While the FSA provides a licence framework and requires segregated client funds, it does not offer a government-backed compensation scheme.

Across all entities, IC Markets maintains a segregated funds policy, holding client money separately from operational funds in reputable financial institutions. The broker also holds professional indemnity insurance as an additional layer of protection.

FP Markets

Account Types at FP Markets

FP Markets offers a focused range of trading accounts designed to serve different trader profiles, from beginners seeking simplicity to active traders demanding the tightest possible costs.

Standard Account

The Standard account is FP Markets' entry-level forex and CFD offering. It operates on an ECN model where the broker's commission is built into the spread rather than charged separately.

• Minimum deposit: $100
• Spreads: From 1.0 pip on EUR/USD (all-in, no additional commission)
• Commission: None — costs are embedded in the spread
• Best suited for: Newer traders, lower-volume traders, and those who prefer a straightforward cost structure without per-trade commissions
• Platforms: MT4, MT5

Raw Account

The Raw account is FP Markets' flagship offering for serious traders and is where the broker's competitive edge is most visible. This account passes raw interbank pricing directly to the client.

• Minimum deposit: $100
• Spreads: From 0.0 pips on EUR/USD (averaging 0.04 pips)
• Commission: AUD $3.50 per side (approximately USD $3.00 per side) per standard lot
• Round-turn commission: Approximately $6.00 total per standard lot traded
• Best suited for: Active traders, scalpers, algorithmic traders, and high-volume traders where the lower spread more than offsets the commission
• Platforms: MT4, MT5, cTrader

IRESS Account (Professional)

For traders seeking direct access to exchange-listed equities and a professional trading environment, FP Markets offers accounts on the IRESS platform. This is geared toward traders interested in Australian and international share trading with Level 2 market depth data.

• Minimum deposit: $1,000 (or AUD equivalent)
• Best suited for: Experienced equity traders and professionals requiring direct market access

FP Markets does not currently offer a dedicated Islamic swap-free account, which is an important consideration for Muslim traders in the MENA region.

IC Markets

IC Markets Account Types

IC Markets offers two primary account structures, each available on different platforms. The choice between them significantly affects your total trading cost, so selecting the right account type is important depending on your trading style and volume.

Standard Account

The Standard Account is a commission-free account with spreads built into the bid/ask price. It is available on both MT4 and MT5.

• Minimum deposit: $200
• Commission: None
• Spreads: From approximately 0.8 pips on EUR/USD (markup applied over raw pricing)
• Best suited for: Beginner to intermediate traders, lower-volume traders, and those who prefer simplified cost structures without per-trade commissions

Raw Spread Account (MT4 and MT5)

The Raw Spread Account provides direct access to interbank pricing with a fixed commission charge per trade.

• Minimum deposit: $200
• Commission: $3.50 per side ($7.00 per round turn per standard lot)
• Spreads: From 0.0 pips on EUR/USD, averaging 0.02 pips
• Best suited for: Active traders, scalpers, and high-volume traders where tight raw spreads outweigh the commission cost

Raw Spread Account (cTrader)

Functionally similar to the MT4/MT5 Raw account but offered on the cTrader platform with a slightly different commission structure.

• Minimum deposit: $200
• Commission: $3.00 per round turn ($1.50 per side per standard lot)
• Spreads: From 0.0 pips on EUR/USD
• Best suited for: Algorithmic traders and those who prefer cTrader's native tools and lower per-lot commissions

IC Markets does not currently offer a swap-free Islamic account. All accounts support hedging, scalping, and expert advisor trading without restrictions.

FP Markets

Trading Platforms at FP Markets

FP Markets stands out in the retail broker space by offering four distinct trading platforms, catering to a wider range of trader preferences and strategies than most competitors.

MetaTrader 4 (MT4)

MT4 remains the most widely used retail forex platform globally and FP Markets' implementation is fully featured. Traders get access to 30 built-in technical indicators, nine timeframes, and robust support for Expert Advisors (EAs) and automated trading scripts. The platform's stability and familiarity make it the default choice for most retail traders. MT4 is available as a desktop client for Windows and Mac, a web-based terminal, and mobile apps for iOS and Android.

MetaTrader 5 (MT5)

MT5 is the next-generation platform offering 21 timeframes (versus MT4's nine), 38 built-in indicators, an integrated economic calendar, and an improved order management system including six pending order types. MT5 on FP Markets also provides access to a broader range of instruments including shares and commodities. It supports MQL5 for automated strategy development and is available on desktop, web, and mobile.

cTrader

cTrader is available exclusively on the Raw account and is favored by algorithmic and professional traders for its transparent ECN execution environment. Key features include:

• Full Level II pricing and market depth display
• cBots for automated trading using C#-based strategy development
• One-click trading and advanced order types including stop-limit orders
• Highly intuitive charting with 26 timeframes
• Available on desktop, web (cTrader Web), and mobile (iOS and Android)

IRESS

IRESS is a professional-grade platform used extensively by institutional traders and brokers across Australia. It offers direct market access, real-time Level II market depth for equities, and sophisticated order management tools. It is the platform of choice for traders focused on share CFDs and exchange-listed products rather than pure forex trading.

IC Markets

IC Markets Trading Platforms

IC Markets supports three industry-standard platforms, giving traders flexibility to choose the environment that best fits their strategy. All platforms connect to the same liquidity pool and receive the same pricing.

MetaTrader 4 (MT4)

MT4 remains the most widely used forex platform globally, and IC Markets offers one of the best-configured MT4 environments available.

• Expert Advisors (EAs): Fully supported with no strategy restrictions
• VPS hosting: IC Markets offers complimentary virtual private server access for clients meeting volume thresholds, ensuring 24/7 EA uptime
• One-click trading, 30 technical indicators, and nine timeframes built in
• Available as desktop (Windows/Mac via Wine), web trader, and mobile apps for iOS and Android

MetaTrader 5 (MT5)

MT5 is the upgraded successor to MT4, offering additional asset classes and more advanced analytical tools.

• 21 timeframes versus MT4's nine, plus 38 built-in technical indicators
• Supports stocks and futures alongside forex and CFDs
• Improved strategy tester with multi-currency and multi-asset backtesting
• Available on desktop, web, iOS, and Android

cTrader

cTrader is preferred by professional and algorithmic traders for its transparency and advanced order management.

• Level II pricing: Full depth of market (DOM) visible at all times
• cAlgo: Built-in algorithmic trading environment using C# programming language
• Detachable charts and advanced chart trading directly from the price action
• Superior order types including stop limit and trailing stop
• Available as desktop, web, iOS, and Android with seamless account synchronisation

All three platforms support one-click trading, real-time news feeds, and full integration with IC Markets' copy trading services.

FP Markets

Spreads, Commissions, and Trading Costs

FP Markets' trading costs are among the most competitive available from a regulated retail broker, particularly on the Raw account where ECN pricing provides near-institutional spreads.

Raw Account Spreads (average during liquid market hours)

• EUR/USD: 0.04 pips average (from 0.0 pips)
• GBP/USD: 0.37 pips average
• USD/JPY: 0.10 pips average
• AUD/USD: 0.10 pips average
• USD/CAD: 0.23 pips average
• EUR/GBP: 0.65 pips average

On the Raw account, a commission of approximately $3.00 USD per side per standard lot applies, bringing the effective all-in cost on EUR/USD to roughly 0.64 pips (spread plus commission combined) — highly competitive against industry peers.

Standard Account Spreads (commission-free)

• EUR/USD: From 1.0 pip
• GBP/USD: From 1.4 pips
• USD/JPY: From 1.1 pips

Overnight Swap Rates

Swap rates at FP Markets are applied at the standard triple-rate on Wednesdays for positions held through rollover. Rates vary by instrument and direction. For traders holding positions overnight, these costs can accumulate on longer-term trades and should be reviewed within the platform before trading. There is no swap-free (Islamic) account option to waive these charges.

Cost Comparison

Compared to the industry average Raw account all-in cost of 0.8–1.0 pips on EUR/USD, FP Markets' 0.64 pip effective cost positions it firmly in the low-cost tier. For a trader executing 10 standard lots per day, the saving versus a mid-tier broker can amount to several hundred dollars monthly.

IC Markets

Account Types and Spreads

Full Fee Breakdown

FP Markets

Deposits, Withdrawals, and Funding Options

FP Markets supports a broad range of deposit and withdrawal methods, with several options relevant to traders based in the MENA region. All transactions are processed through the broker's secure client portal.

Available Deposit Methods

• Visa and Mastercard: Instant processing for deposits; widely accessible across UAE, Saudi Arabia, and Kuwait
• Bank wire transfer: Accepted from most GCC banks; processing takes 1–3 business days depending on the sending bank
• Skrill: Instant deposit; popular e-wallet option available in the MENA region
• Neteller: Instant deposit; another widely supported e-wallet
• Fasapay: Instant processing; primarily serves Southeast Asian clients but accessible regionally
• Cryptocurrency: Bitcoin and other cryptocurrencies accepted via third-party payment processor; processing times vary

Minimum Deposit

The minimum deposit to open a Standard or Raw account is $100 USD (or equivalent in other accepted currencies). The IRESS platform requires a minimum of $1,000 AUD or equivalent.

Withdrawal Process

Withdrawals must be submitted through the client portal and are typically processed within 1–2 business days from FP Markets' side. The method of withdrawal must generally match the deposit method used, in line with standard anti-money-laundering requirements.

• Card withdrawals: 3–5 business days to appear in account after processing
• E-wallet withdrawals (Skrill, Neteller): Usually within 24 hours of processing
• Bank wire: 3–5 business days depending on receiving bank

Fees

FP Markets does not charge internal fees on most deposit or withdrawal methods. However, third-party fees from payment processors, banks, or currency conversion may apply. Traders should confirm current fee schedules in the client portal before initiating transactions.

Account Currencies

FP Markets supports multiple base currencies including USD, EUR, GBP, AUD, SGD, CHF, JPY, NZD, HKD, and CAD. USD accounts are most common among MENA-region traders.

IC Markets

Deposits and Withdrawals for MENA Traders

IC Markets supports a wide range of funding methods, most of which are accessible to traders in the UAE, Saudi Arabia, Kuwait, and across the broader MENA region. Accounts are denominated in multiple base currencies, reducing conversion costs for traders holding USD or EUR.

Available Deposit Methods

• Visa and Mastercard: Instant processing, no deposit fee charged by IC Markets. Card deposits are widely available to GCC traders and represent the most commonly used method in the region
• PayPal: Instant processing, no IC Markets fee. Availability depends on your country of residence
• Skrill: Instant deposit, no fee. A popular alternative for MENA traders where PayPal access is restricted
• Neteller: Instant deposit, no fee. Widely accepted across the GCC
• Bank Wire Transfer: Standard international bank transfer, typically 2–5 business days for processing. No fee from IC Markets, though your local bank may apply transfer charges
• Cryptocurrency: Deposits accepted in major cryptocurrencies including Bitcoin and Ethereum, processed within one confirmation. This is an increasingly popular option for traders seeking fast, borderless transfers

Withdrawals

IC Markets processes withdrawal requests within 24 hours on business days. Withdrawals are returned to the original deposit method where possible. Card withdrawals typically appear within 3–5 business days depending on the issuing bank. E-wallet withdrawals (Skrill, Neteller) are usually processed same day.

Account Base Currencies

Supported base currencies include USD, EUR, GBP, AUD, CAD, CHF, JPY, NZD, SGD, and HKD. MENA traders depositing in USD avoid any conversion loss. There is a minimum deposit of $200 across all account types.

FP Markets

Customer Support at FP Markets

FP Markets provides customer support through multiple channels, though the quality and availability of service in the MENA region carries some important caveats for Arabic-speaking traders to be aware of.

Support Channels

• Live chat: Available directly on the FP Markets website and within the client portal; generally the fastest channel for routine account and technical queries
• Email: Support inquiries can be submitted to the broker's support team; response times are typically within a few hours during business hours
• Phone: FP Markets offers telephone support with international dial-in numbers; primary support lines are based in Australia (Sydney time zone)
• Online ticketing system: Available within the client portal for account-specific matters requiring documentation

Operating Hours

FP Markets support operates during standard Australian business hours, which are Monday to Friday, 08:00–18:00 AEST. In UAE time (GST), this equates to approximately 02:00–12:00 GST, meaning afternoon and evening support in the Gulf is limited to automated resources or email. Traders in the MENA region requiring support outside these hours should use the email channel and expect responses the following business day.

Languages

Support is primarily delivered in English. Arabic-language support is not consistently available directly from the core support team, which is a notable gap for traders in Saudi Arabia, the UAE, and Kuwait who prefer communication in their native language. Some regional introducing brokers and partners operating in Arabic may be able to bridge this gap.

Overall Assessment

For straightforward technical and account queries during business hours, FP Markets' support performs adequately. Live chat response times are generally under five minutes during peak hours. However, the lack of dedicated Arabic-language support and the time-zone mismatch with the Gulf region are real limitations that MENA-based traders should factor into their broker selection decision.

IC Markets

IC Markets Customer Support

IC Markets provides multi-channel customer support available around the clock on business days. Support quality is generally considered above average for a broker of this size, with response times that remain competitive, though the firm does not match the premium white-glove service offered by some smaller boutique brokers.

Support Channels

• Live Chat: Available directly through the IC Markets website and client portal. This is the fastest channel, with typical first-response times of under two minutes during business hours. Live chat handles most account queries, deposit confirmations, and technical platform questions
• Email Support: Responses typically arrive within a few hours during business days. Suitable for complex account queries, compliance documentation, or detailed technical issues requiring investigation
• Phone Support: International phone lines available for clients who prefer voice communication. Numbers are listed on the IC Markets website by region

Support Hours

IC Markets operates 24-hour support from Monday through Friday, aligned with global forex market hours. Support is not available on weekends, which is a notable limitation for traders who encounter deposit or technical issues outside the trading week.

Language Support

The IC Markets website and client portal are available in multiple languages. Arabic language support is available through the website interface, though live support agents are primarily English-speaking. MENA traders communicating in English report satisfactory support experiences. Dedicated Arabic-speaking support is not consistently available as a guaranteed option, which is a point worth noting for traders who are not comfortable in English.

Support Quality Assessment

For account-opening, funding, and platform configuration queries, IC Markets support is responsive and knowledgeable. Complex regulatory or jurisdiction-specific queries may require escalation and longer response windows. The firm's extensive online help centre and FAQ documentation resolves a significant proportion of common queries without requiring agent contact.