IC Markets vs FP Markets

Quick Answer

Best for	Winner	Why
Raw-account commission	FP Markets	About $6 per lot round turn against $7

A “winner” here means the better published figure on that one line. It is not a recommendation: the right broker depends on where you live and how you trade.

Comparison Table

	IC Markets	FP Markets
Operating since	ASIC licence since 2009	2005
Company for international clients	Raw Trading Ltd, licensed by the FSA in Seychelles (SD018)	FP Markets Ltd, registered in Saint Lucia (a registration, not a licence)
Regulators in the group	ASIC, CySEC, FSA Seychelles, SCB Bahamas, CMA Kenya	ASIC, CySEC, FSCA, FSA Seychelles, CMA Kenya; Saint Lucia registration
Minimum deposit	None at the global company; $200 at the Australian company	None stated
Commission-free spreads	Standard from 0.8 pips	Standard from 1.0 pip (EUR/USD average 1.2)
Raw-spread account	Raw Spread from 0.0 pips (EUR/USD average 0.1) plus $3.50 per side	Raw from 0.0 pips (EUR/USD average 0.1) plus US$3 per side
Maximum leverage	1:5000 on forex at the global company (tiered by position size); 1:30 in Australia and the EU	1:500
Platforms	MT4, MT5, cTrader, TradingView	MT4, MT5, cTrader, TradingView
Copy trading	IC Social, cTrader Copy, ZuluTrade and Signal Start	Social Trading on MT4 and MT5; cTrader Copy
Inactivity fee	Not listed	None
Withdrawal fee	None from IC Markets	None on bank wires from FP Markets
Swap-free	Swap-free accounts with a flat holding fee	Islamic accounts with admin fees after a grace period
Bonus	100% first-deposit bonus up to $1,000, then 50% (global company)	None; Refer a Friend only

Figures come from each broker’s official site, checked on 11 October 2026. Spreads move through the day, and conditions vary by country and by the company that holds your account.

Regulation and Safety

IC Markets’ group holds ASIC and CySEC licences plus offshore licences in Seychelles, the Bahamas and Kenya. International clients are served by its Seychelles company, where IC says client money is insured up to US$1,000,000. CySEC fined its EU company €250,000 in 2024, which the company has taken to judicial review.

FP Markets’ group is regulated by ASIC in Australia and CySEC in Cyprus, and its site also names the FSCA in South Africa and the FSA in Seychelles. Many international clients, however, are placed with FP Markets Ltd, which is registered in Saint Lucia and is not a member of an investor compensation fund.

Both groups hold top-tier licences, but those protect only the clients of the licensed companies. What matters is which company your country places you with, so check your client agreement before you deposit.

Trading Costs

On commission-free accounts, IC Markets lists: Standard from 0.8 pips. FP Markets lists: Standard from 1.0 pip (EUR/USD average 1.2). “From” figures are minimums, so expect wider live spreads, especially around news.

Both offer a raw-spread account. IC Markets: Raw Spread from 0.0 pips (EUR/USD average 0.1) plus $3.50 per side. FP Markets: Raw from 0.0 pips (EUR/USD average 0.1) plus US$3 per side. For frequent traders, a raw account usually costs less per trade than a spread-only one.

IC Markets lists no inactivity fee. FP Markets lists no inactivity fee. Withdrawal fees: IC Markets: none from IC Markets; FP Markets: none on bank wires from FP Markets.

Platforms and Copy Trading

IC Markets offers MT4, MT5, cTrader and TradingView. FP Markets offers MT4, MT5, cTrader and TradingView.

IC Markets’s copy trading: IC Social, cTrader Copy, ZuluTrade and Signal Start. FP Markets’s copy trading: Social Trading on MT4 and MT5; cTrader Copy. Copying another trader doesn’t remove risk: you can lose money as fast as trading yourself.

Leverage

IC Markets’s maximum leverage: 1:5000 on forex at the global company (tiered by position size); 1:30 in Australia and the EU. FP Markets’s: 1:500.

A higher maximum is not an advantage in itself. Leverage multiplies losses as fast as gains, so beginners should use far less than either broker allows.

Which One Should You Choose?

Go with IC Markets if:

• You trade often and want raw spreads
• You want cTrader or TradingView
• You want a group with ASIC and CySEC licences

Go with FP Markets if:

• You trade often and want raw spreads with a low commission
• You want cTrader or TradingView
• You want a group with ASIC and CySEC licences

Whichever you choose, test a small withdrawal early, verify your account before you need your money, and risk only what you can afford to lose.

FAQ

Which has the lower minimum deposit, IC Markets or FP Markets? They are level: IC Markets: none at the global company; $200 at the Australian company; FP Markets: none stated.

How are IC Markets and FP Markets regulated? IC Markets’s international clients deal with Raw Trading Ltd, licensed by the FSA in Seychelles (SD018). FP Markets’s deal with FP Markets Ltd, registered in Saint Lucia (a registration, not a licence). Group regulators: IC Markets: ASIC, CySEC, FSA Seychelles, SCB Bahamas, CMA Kenya; FP Markets: ASIC, CySEC, FSCA, FSA Seychelles, CMA Kenya; Saint Lucia registration.

Which is cheaper to trade with? It depends on the account. Commission-free: IC Markets: Standard from 0.8 pips; FP Markets: Standard from 1.0 pip (EUR/USD average 1.2). Raw accounts: IC Markets: Raw Spread from 0.0 pips (EUR/USD average 0.1) plus $3.50 per side; FP Markets: Raw from 0.0 pips (EUR/USD average 0.1) plus US$3 per side.

Does either charge an inactivity fee? IC Markets: not listed. FP Markets: none.

Do both offer copy trading? IC Markets: IC Social, cTrader Copy, ZuluTrade and Signal Start. FP Markets: Social Trading on MT4 and MT5; cTrader Copy.

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