IC Markets vs FP Markets: The Ultimate 2026 Comparison
IC Markets and FP Markets are two of the most popular ASIC-regulated, raw-spread brokers, and traders constantly compare them. IC Markets leads on liquidity, leverage and review volume; FP Markets counters with a lower commission, a lower entry and a huge instrument range. Here is the 2026 breakdown.
IC Markets
FP Markets
IC Markets vs FP Markets: 2026 at a glance
| Feature | IC Markets | FP Markets |
|---|---|---|
| Founded / HQ | 2007 / Sydney | 2005 / Sydney |
| Regulation | ASIC, CySEC, FSA Seychelles, SCB Bahamas, CMA Kenya | ASIC, CySEC, FSCA, FSA Seychelles, FSC Mauritius |
| Min deposit | $200 | $100 |
| EUR/USD spread | ~1.0 (Standard) / from 0.0, avg 0.1 (Raw) | ~1.0 (Standard) / ~0.0-0.2 (Raw) |
| Commission (raw) | $7 RT (MT4/5) / ~$6 (cTrader) | $6 round turn |
| Max leverage | Up to 1:5000 (Seychelles); 1:30 ASIC/CySEC | Up to 1:500; 1:30 ASIC/CySEC |
| Platforms | MT4, MT5, cTrader, TradingView | MT4, MT5, cTrader, TradingView, IRESS |
| Instruments | 2,250+ | 10,000+ (incl. IRESS DMA shares) |
| Copy trading | IC Social + ZuluTrade/Myfxbook/cTrader | Social hub (cTrader Copy, PAMM, Myfxbook) |
| Trustpilot | 4.8/5 (~54,000) | ~4.8/5 (~10,000) |
| Best for | Liquidity & highest leverage | Lowest commission & instrument range |
IC Markets: deep liquidity and highest leverage
IC Markets is built for active traders. Its Raw Spread accounts deliver EUR/USD from 0.0 pips (averaging ~0.1 pip) aggregated from up to 25 liquidity providers, for a $7 round-turn commission on MT4/MT5 or about $6 on cTrader. It offers MT4, MT5, cTrader and TradingView across 2,250+ instruments and holds a category-leading Trustpilot record.
International clients are covered by the Seychelles FSA, with leverage up to 1:5000, while ASIC/CySEC retail is capped at 1:30. Note the 2026 rebrand to IC and the domain move to ic.com, so confirm the official site before depositing.
Pros
- True-ECN raw spreads averaging ~0.1 pip EUR/USD
- Highest offshore leverage (up to 1:5000)
- Category-leading 4.8/5 Trustpilot (54,000+ reviews)
- MT4, MT5, cTrader and TradingView
Cons
- Higher $200 minimum deposit
- MT4/MT5 Raw commission ($7) higher than FP ($6)
- No FCA/Tier-1 licence for the international entity
- 2026 rebrand/domain move can cause confusion
Best for: Scalpers and algo traders who want the deepest liquidity and the highest offshore leverage.
Visit IC Markets →FP Markets: lower commission and huge range
FP Markets pairs a low-cost Raw account (EUR/USD from 0.0 to 0.2 pips at a $6 round-turn commission) with one of the widest product ranges in the industry: over 10,000 instruments, including direct-market-access share trading via IRESS. It runs MT4, MT5, cTrader and TradingView under ASIC, CySEC and FSCA regulation, from a low $100 minimum.
Leverage reaches up to 1:500 on offshore entities and 1:30 under ASIC/CySEC. Its social hub covers cTrader Copy, PAMM and Myfxbook. Some users report friction with the withdrawal process, and the Saint Vincent entity is unregulated.
Pros
- Lower Raw commission of $6 round turn
- Massive 10,000+ instrument range
- IRESS DMA share trading plus MT4/MT5/cTrader/TradingView
- Low $100 entry and strong 4.8/5 Trustpilot
Cons
- Lower max leverage (1:500 vs IC 1:5000 offshore)
- Standard-account spreads are unremarkable
- Some withdrawal-process complaints in reviews
- Saint Vincent entity is unregulated
Best for: Cost-conscious active traders and DMA share traders who want a huge instrument range.
Visit FP Markets →Head-to-head: the key differences
Two elite ASIC raw-spread brokers. These points decide it.
Cost
FP Markets Raw commission ($6 round turn) undercuts IC Markets MT4/MT5 Raw ($7); IC matches it only on cTrader (~$6). Both start EUR/USD from 0.0 pips. On headline cost, FP has a slight edge.
Instrument range
FP Markets offers 10,000+ instruments including IRESS DMA share trading, versus 2,250+ at IC Markets. FP is far broader; IC concentrates on deep FX/CFD liquidity.
Leverage
IC Markets offers up to 1:5000 on its Seychelles entity versus FP Markets 1:500. High-leverage offshore traders favour IC; both cap ASIC/CySEC retail at 1:30.
Platforms & reputation
Both offer MT4, MT5, cTrader and TradingView; FP adds IRESS DMA. Both hold a 4.8 Trustpilot, but IC Markets has a far larger proven review base (54,000 vs ~10,000).
Final verdict
Choose IC Markets for the deepest liquidity, the highest offshore leverage and the largest proven Trustpilot record. Choose FP Markets for a lower $6 commission, a lower $100 entry and a vastly bigger instrument range including DMA shares.
Both are excellent ASIC-regulated ECN brokers; both cap retail leverage at 1:30 under their top-tier entities.
Frequently asked questions
Is IC Markets or FP Markets cheaper?
FP Markets: a $100 minimum plus a $6 round-turn Raw commission, versus $200 and $7 at IC Markets (IC matches $6 on cTrader).
Which has tighter spreads?
Both offer raw spreads from 0.0 pips. IC Markets Raw averages around 0.1 pip EUR/USD from up to 25 liquidity providers; FP Markets Raw is comparable.
Which has more instruments?
FP Markets, with 10,000+ including IRESS DMA shares, versus 2,250+ at IC Markets.
Which offers higher leverage?
IC Markets offers up to 1:5000 on its Seychelles entity versus FP Markets 1:500. Both cap ASIC/CySEC retail clients at 1:30.
What platforms do they support?
Both offer MT4, MT5, cTrader and TradingView. FP Markets additionally offers the IRESS platform for DMA share trading.