IC Markets vs FP Markets 2026 — Australian Broker Showdown

Two ASIC-regulated Australian brokers go head-to-head. Both offer tight spreads and professional trading conditions. The difference? IC Markets with our commission discount (up to 21% off) delivers the lowest all-in cost.

Quick Verdict — IC Markets vs FP Markets

IC Markets and FP Markets are both premium Australian brokers with ASIC regulation and competitive pricing. They are more similar than different — both offer ECN-style raw spreads, MT4/MT5, and professional trading infrastructure. The choice comes down to specific strengths: IC Markets leads on forex/commodity costs and platform choice (cTrader + TradingView), while FP Markets leads on stock CFD selection with their IRESS platform.

The decisive factor is cost. FP Markets charges $6.00/lot on their Raw account. IC Markets charges $7.00/lot standard — but with our IB discount, that drops to $5.50/lot. That makes IC Markets through TradersFXPartner the cheaper option among major Australian brokers.

For forex and commodity traders, IC Markets with our discount is the better value. For stock CFD traders who need a wide equity selection, FP Markets may suit specific needs.

Cost Comparison

Both brokers deliver excellent raw spread execution. The cost advantage with IC Markets + our discount is $0.50/lot compared to FP Markets. For an active trader doing 200 lots/month, that translates to $100/month or $1,200/year in savings.

Platform & Execution

IC Markets offers MT4, MT5, cTrader, and TradingView. FP Markets offers MT4, MT5, and their proprietary IRESS platform. For forex traders, IC Markets' cTrader offers superior charting, Level II pricing, and cAlgo for algorithmic development. TradingView integration adds another popular option.

FP Markets' IRESS platform is specifically designed for stock and equity CFD trading, offering DMA (Direct Market Access) pricing for Australian and international shares. If you primarily trade stock CFDs with DMA pricing, FP Markets' IRESS platform is purpose-built for this.

Both brokers operate ECN/STP execution models with deep liquidity pools. IC Markets processes $20+ billion daily and uses Equinix NY4/LD5 servers. FP Markets also offers institutional-grade execution with competitive latency. For forex execution quality, both are among the best in the industry.

Regulation — Both ASIC & CySEC

Both brokers share the same core regulatory framework: ASIC for Australian/global clients and CySEC for EU clients. IC Markets serves EU clients through IC Trading (ictrading.com). Client funds are held in segregated accounts with major banks, and both offer negative balance protection. IC Markets additionally holds an FSA (Seychelles) license for international clients.

IC Markets was founded in 2007 and FP Markets in 2005. Both have long track records with clean regulatory histories. Our 10+ year IB partnership with IC Markets confirms their reliability — 761 clients, $2.5 billion in volume, with no fund security issues. See our IC Markets review for the full assessment.

Our Recommendation

Choose IC Markets with TradersFXPartner if: you primarily trade forex, commodities, or indices and want the lowest possible commission ($5.50/lot). IC Markets also wins if you prefer cTrader or TradingView, or want a $100 cash bonus on signup.

Choose FP Markets if: you primarily trade stock CFDs and need DMA pricing through the IRESS platform, or you need access to 10,000+ instruments across global equity markets.

For forex and commodity traders — which describes the vast majority of CFD traders — IC Markets with our commission discount is the clearly superior choice. Lower costs, more platform options, and a proven account structure that has served 761 clients well.

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IC Markets vs FP Markets — FAQ