Fxpro Vs IC Markets
Fxpro Vs IC Markets Review and comparison by top forex brokers experts, When it comes to selecting a forex broker, two names often rise to the top: FxPro and IC Markets. Both are reputable, globally recognized, and offer advanced trading platforms, competitive spreads, and an extensive range of instruments. However, choosing between them depends on your trading goals, style, and personal preferences.
In this in-depth comparison by top forex brokers, we break down the key differences between FxPro and IC Markets across multiple categories including regulation, platforms, fees, account types, execution models, customer service, and more.
1. Company Background & Regulation
FxPro Overview
Founded in 2006, FxPro is a multi-asset broker headquartered in London. It is well known for offering forex, commodities, indices, shares, and futures to retail and institutional clients. With over 2 million trading accounts opened globally, FxPro operates under multiple top-tier regulatory bodies.
FxPro Regulations:
FCA (UK)
CySEC (Cyprus)
FSCA (South Africa)
SCB (Bahamas)
IC Markets Overview
Established in 2007 in Sydney, Australia, IC Markets has grown rapidly to become one of the largest ECN forex brokers in the world in terms of trading volume. It’s a go-to choice for scalpers, day traders, and automated traders due to its ultra-tight spreads and lightning-fast execution.
IC Markets Regulations:
ASIC (Australia)
CySEC (Cyprus)
FSA (Seychelles)
Verdict:
Both brokers are well-regulated, though FxPro has a slightly broader regulatory reach. However, IC Markets’ ASIC regulation is particularly appealing to clients in Australia.
2. Trading Platforms Comparison
Both FxPro and IC Markets offer access to industry-standard platforms.
| Broker | MT4 | MT5 | cTrader | WebTrader | Mobile Apps |
|---|---|---|---|---|---|
| FxPro | ✅ | ✅ | ✅ | ✅ | ✅ |
| IC Markets | ✅ | ✅ | ✅ | ✅ | ✅ |
FxPro is one of the few brokers offering all three major platforms: MetaTrader 4, MetaTrader 5, and cTrader, catering to different types of traders.
IC Markets, similarly, provides access to all three platforms, with a particular focus on low-latency execution for algorithmic trading.
Verdict:
It’s a tie. Both brokers support MT4, MT5, and cTrader, offering a versatile trading environment for all types of traders.
3. Trading Instruments
| Asset Class | FxPro | IC Markets |
|---|---|---|
| Forex | ✅ | ✅ |
| Indices | ✅ | ✅ |
| Commodities | ✅ | ✅ |
| Shares | ✅ | ✅ |
| Cryptocurrencies | ✅ | ✅ |
| Futures | ✅ | ✅ |
| Bonds | ❌ | ✅ |
FxPro offers over 250+ financial instruments, while IC Markets goes even further, offering over 2300+ instrumentsincluding bonds and a broader range of stocks and cryptocurrencies.
Verdict:
IC Markets wins in terms of instrument diversity, especially for traders interested in bonds and a wider selection of assets.
4. Account Types Comparison
FxPro Account Types:
FxPro MT4 Account: Fixed or floating spreads
FxPro MT5 Account: Market execution
FxPro cTrader Account: Raw spreads + commission
FxPro Demo Account: Free trial trading
FxPro Islamic Account: Swap-free
IC Markets Account Types:
Standard Account: No commission, wider spreads
Raw Spread Account (MT4/MT5): Tight spreads + commission
cTrader Raw Account: Raw spreads + lower commission
Islamic Account: Swap-free
Demo Account: Unlimited trial
Verdict:
FxPro provides slightly more flexibility in execution models and spread types, while IC Markets focuses heavily on raw spreads for advanced traders.
5. Spreads and Commissions
| Broker | Average EUR/USD Spread | Commission per Lot (cTrader/ECN) |
|---|---|---|
| FxPro | 1.4 pips (Standard) | $4.50 (cTrader) |
| IC Markets | 0.1 – 0.3 pips (Raw) | $3.50 (cTrader) |
IC Markets is renowned for having some of the lowest spreads in the industry, especially in the Raw Spread Account, making it a preferred choice for high-frequency traders.
FxPro, on the other hand, provides fixed spreads on some accounts, which may benefit beginner or long-term traders looking for predictability.
Verdict:
For cost-conscious traders, IC Markets offers more competitive spreads and lower commissions.
6. Deposit & Withdrawal Methods
| Feature | FxPro | IC Markets |
|---|---|---|
| Minimum Deposit | $100 | $200 |
| Deposit Fees | No | No |
| Withdrawal Fees | No | No |
| Payment Methods | Bank Wire, Card, eWallets | Bank Wire, Card, eWallets |
| Withdrawal Processing Time | Within 1 business day | Same day or next business day |
Both brokers offer multiple funding methods without any extra charges on deposits or withdrawals.
Verdict:
Both brokers offer free and fast deposit/withdrawal options, though FxPro has a slightly lower minimum deposit requirement.
7. Order Execution
FxPro offers both instant and market execution, depending on account type and platform. It also provides Negative Balance Protection.
IC Markets is known for true ECN execution, with average order execution speed around 40 milliseconds. The broker routes orders directly to liquidity providers with minimal slippage.
Verdict:
IC Markets takes the lead for professional-grade execution and low latency.
8. Fxpro Vs IC Markets Customer Support
| Broker | Support Channels | Languages Supported | Availability |
|---|---|---|---|
| FxPro | Live Chat, Email, Phone | 20+ languages | 24/5 |
| IC Markets | Live Chat, Email, Phone | 15+ languages | 24/7 |
IC Markets offers 24/7 customer support — an edge over FxPro’s 24/5 availability. However, both brokers are responsive and helpful across channels.
Verdict:
IC Markets wins with 24/7 support for global clients.
9. Educational Resources
Both FxPro and IC Markets offer comprehensive learning material.
FxPro includes:
Forex tutorials
Webinars
Video guides
Market news & analysis
IC Markets offers:
Beginner & advanced trading courses
Market research
Trading tools and calculators
Verdict:
Tie. Both brokers invest in trader education and offer helpful resources.
10. Top Highlights Comparison Table
| Feature | FxPro | IC Markets |
|---|---|---|
| Regulation | FCA, CySEC, FSCA, SCB | ASIC, CySEC, FSA |
| Platforms | MT4, MT5, cTrader | MT4, MT5, cTrader |
| Spread Type | Fixed & Floating | Raw & Floating |
| Average Spread (EUR/USD) | 1.4 pips | 0.1–0.3 pips |
| Commission | $4.50 per lot (cTrader) | $3.50 per lot (cTrader) |
| Execution Speed | Fast | Ultra-fast (~40 ms) |
| Account Types | Multiple (MT4, MT5, cTrader) | Raw, Standard, Islamic |
| Minimum Deposit | $100 | $200 |
| Demo & Islamic Accounts | ✅ | ✅ |
| Customer Support | 24/5 | 24/7 |
Final Verdict: FxPro vs IC Markets — Which Broker is Better?
Both FxPro and IC Markets are excellent brokers, but they cater to slightly different trader profiles:
Choose FxPro if you prefer a variety of account types, flexible spread options, and strong regulation including FCA and FSCA.
Choose IC Markets if you are a scalper or algorithmic trader who values raw spreads, low latency, and fast ECN execution.
Ultimately, your trading style, preferred platform, and risk tolerance will determine the better fit.
Fxpro Vs IC Markets Conclusion
Whether you’re a beginner or a professional, the choice between FxPro and IC Markets comes down to your priorities. FxPro offers a balanced blend of regulation, platform flexibility, and account variety. IC Markets excels in cost-effectiveness and execution speed, making it a solid choice for advanced strategies.
Before making your decision, consider opening demo accounts with both brokers to test the platforms, spreads, and overall experience firsthand
