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.

Headquarters
AustraliaUnited Kingdom
Regulators
ASIC, CMA, CySEC, FSCAFCA
Tier 1 Regulator(s)?
Owned by Public Company?
Year Established
20051974
Execution Type(s)
ECN/STPMarket Maker
Minimum Deposit
$100300€
Negative Balance Protection
Trading Platform(s)
MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-basedMetaTrader 4, Proprietary platform
Average Trading Cost EUR/USD
1.2 pips0.9 pips
Average Trading Cost GBP/USD
1.4 pips1.4 pip
Average Trading Cost WTI Crude Oil
$0.02$0.03
Average Trading Cost Gold
$0.16$0.30
Retail Loss Rate
70.70%Undisclosed
Minimum Raw Spreads
0.0 pipsNot applicable
Minimum Standard Spreads
1.0 pips0.8 pips
Minimum Commission for Forex
$6.00 per Round LotCommission-free
Islamic Account
Signals
US Persons Accepted?
Managed Accounts
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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
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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
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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 pips0.9 pips
Average Trading Cost GBP/USD
1.4 pips1.4 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 pipsNot applicable
Minimum Standard Spreads
1.0 pips0.8 pips
Minimum Commission for Forex
$6.00 per Round LotCommission-free
Deposit Fee
Withdrawal Fee
Inactivity Fee
No$12 per month after 24 months
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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 AfricaAustralia, Bermuda, Switzerland, Cyprus, Germany, Japan, New Zealand, Singapore, United States
Name of the Regulator
ASIC, CMA, CySEC, FSCAFCA
Regulatory License Number
286354, 103, 371/18, 50926195355, 378/19, 10148759, confirmed, but no regulaary license number, F001780, 41393, 1489, unconfirmed, 220440, 18923, 0509630, 54814
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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 selectionLimited 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 selectionLimited deposit and withdrawal methods
Competitive trading costs with a volume-based cash rebate programHigher 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.

You might also be interested in reviewing the below broker comparisons:

FAQs

Is FP Markets regulated in the USA?

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FP Markets is unregulated in the USA.

Is FP Markets regulated in the UK?

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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?

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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?

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FP Markets has an ECN pricing model and works with numerous liquidity providers via the ECN.

Is FP Markets good for beginners?

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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?

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The secure back office of FP Markets handles all financial transactions in a fast and efficient manner.