Traders at IG Markets get one of the most competitive MT4 trading environments with an upgraded MT4 trading platform with 18 add-ons and the Autochartist plugin. IG Markets also offers its proprietary web-based trading platform, ProRealTime, L2 Dealer, and API trading for advanced algorithmic solutions.
FP Markets provides an excellent MT4/MT5 trading environment due to its twelve plugin upgrades and Autochartist. It also deploys its high-quality Iress trading platform and an in-house social trading service alongside Myfxbook Autotrade. Asset managers get the MAM/PAMM module.
Both brokers offer research and education for beginner traders with quality trading tools and services.
We have conducted an in-depth review of IG Markets and FP Markets to determine which one presents the better overall choice and which traders will benefit the most at either broker.
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- IG Markets versus FP Markets - Verdict
 |  | |
Headquarters | Australia | United Kingdom |
Regulators | ASIC, CMA, CySEC, FSCA | ASIC, BaFin, CySEC, DFSA, FCA, FINMA, FMA, FSCA, JFSA, MAS |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2005 | 1974 |
Execution Type(s) | ECN/STP | Market Maker |
Minimum Deposit | $100 | €0 |
Negative Balance Protection | ||
Trading Platform(s) | MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-based | Other, MetaTrader 4, Proprietary platform, Trading View+ |
Average Trading Cost EUR/USD | 1.2 pips | 0.9 pips |
Average Trading Cost GBP/USD | 1.4 pips | 1.4 pip |
Average Trading Cost WTI Crude Oil | $0.02 | $0.03 |
Average Trading Cost Gold | $0.16 | $0.30 |
Retail Loss Rate | 72.44% | 70.00% |
Minimum Raw Spreads | 0.0 pips | Not applicable |
Minimum Standard Spreads | 1.0 pips | 0.6 pips |
Minimum Commission for Forex | $6.00 per Round Lot | Commission-free |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Visit Website | Visit Website 71% of retail spread bet and CFD accounts lose money |
Features and Platforms
| | |
MT4 | ||
MT5 | ||
MT4/MT5 Add-Ons | ||
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
Social/Copy Trading | ||
DOM? | ||
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | ||
OCO Orders | ||
Interest on Margin | ||
| Visit Website | Visit Website 71% of retail spread bet and CFD accounts lose money |
Noteworthy:
IG Markets serves advanced and institutional traders best. FP Markets remains a better choice for retail and social traders while offering a high-quality, competitive institutional-grade products and services portfolio.
Available Markets
| | |
Currency Pairs | ||
Cryptocurrencies | ||
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks (non-CFDs) | ||
Bonds | ||
ETFs | ||
Options | ||
Futures | ||
Synthetics | ||
| Visit Website | Visit Website 71% of retail spread bet and CFD accounts lose money |
Both brokers maintain a well-balanced asset selection, but IG Markets has a notable lead. It offers a higher quantity of trading instruments per sector plus thematic portfolios. FP Markets has a smaller asset selection unless clients get the geographically restricted Iress platform, but sufficient assets for beginners and those with focused strategies.
Typical Spreads and Fees
| | |
Average Trading Cost EUR/USD | 1.2 pips | 0.9 pips |
Average Trading Cost GBP/USD | 1.4 pips | 1.4 pip |
Average Trading Cost WTI Crude Oil | $0.02 | $0.03 |
Average Trading Cost Gold | $0.16 | $0.30 |
Average Trading Cost Bitcoin | $21.08 | $90 |
Minimum Raw Spreads | 0.0 pips | Not applicable |
Minimum Standard Spreads | 1.0 pips | 0.6 pips |
Minimum Commission for Forex | $6.00 per Round Lot | Commission-free |
Deposit Fee | ||
Withdrawal Fee | ||
Inactivity Fee | No | |
| Visit Website | Visit Website 71% of retail spread bet and CFD accounts lose money |
Trading costs are almost identical, but IG Markets has a volume-based rebate program. The commission-free Forex cost structure at IG Markets and the commission-based alternative at FP Markets have the same minimum costs, placing both brokers at the top of low-cost pricing environments.
Security and Trust
| | |
Country of the Regulator | Australia, Cyprus, Kenya, South Africa | United Arab Emirates, Australia, Bermuda, The Bahamas, Switzerland, Cyprus, Germany, Japan, New Zealand, Singapore, United Kingdom, United States, South Africa |
Name of the Regulator | ASIC, CMA, CySEC, FSCA | ASIC, BaFin, CySEC, DFSA, FCA, FINMA, FMA, FSCA, JFSA, MAS |
Regulatory License Number | 286354, 103, 371/18, 50926 | 195355, 378/19, 10148759, confirmed, but no regulaary license number, F001780, 41393, 1489, unconfirmed, 220440, 18923, 0509630, 54814 |
Regulatory Tier | N/A | 1, 1, 1, 1, 2, 2, 1, 1, 1, 1, 4 |
| Visit Website | Visit Website 71% of retail spread bet and CFD accounts lose money |
Both brokers segregate client deposits from corporate funds and provide negative balance protection. IG Markets is a publicly listed company and a FTSE250 constituent, while FP Markets caters to most traders from its unregulated but duly registered St. Vincent and the Grenadines subsidiary. Both remain equally secure, trustworthy, and reliable multi-asset brokers, but FP Markets has an overall edge.
FP Markets vs IG Markets – Verdict
FP Markets
Pros | Cons |
|---|---|
| Choice of trading platforms and auxiliary trading tools | Availability of Iress geographically restricted |
| Very competitive cost structure and excellent asset selection | Limited commodities and metals selection |
| Low minimum deposit requirement and leverage of up to 1:500 | |
| Well-regulated and trustworthy |
IG Markets
Pros | Cons |
|---|---|
| Excellent choice of trading platforms and superior asset selection | Limited deposit and withdrawal methods |
| Competitive trading costs with a volume-based cash rebate program | Higher minimum deposit requirement, but within a reasonable demand |
| Outstanding trading environment for algorithmic trading, including API support | |
| Comprehensive educational tools for beginner traders |
Professional and institutional clients may benefit from the wealth of the IG Markets offering, but FP Markets caters better to millennial and GenZ traders. It provides institutional-grade core services, including low trading costs, fast order execution, deep liquidity, and high leverage. FP Markets also caters well to beginners and social trading strategies.
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FAQs
Is FP Markets regulated in the USA?
FP Markets is unregulated in the USA.
Is FP Markets regulated in the UK?
FP Markets is unregulated in the UK but caters to UK-based clients either from its Cyprus or St. Vincent and the Grenadines subsidiaries.
Is IG good for trading?
IG is good for trading as it provides a cutting-edge and industry-leading trading environment. It features deep liquidity, low trading costs, and full support for advanced algorithmic trading solutions.
Is FP Markets a true ECN broker?
FP Markets has an ECN pricing model and works with numerous liquidity providers via the ECN.
Is FP Markets good for beginners?
FP Markets is an excellent choice for beginners. It offers quality education, research, social trading, and managed portfolios.
How do I withdraw money from FP Markets?
The secure back office of FP Markets handles all financial transactions in a fast and efficient manner.