IG Markets versus FP Markets

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	FCA
Tier 1 Regulator(s)?
Owned by Public Company?
Year Established	2005	1974
Execution Type(s)	ECN/STP	Market Maker
Minimum Deposit	$100	300€
Negative Balance Protection
Trading Platform(s)	MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-based	MetaTrader 4, Proprietary platform
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	70.70%	Undisclosed
Minimum Raw Spreads	0.0 pips	Not applicable
Minimum Standard Spreads	1.0 pips	0.8 pips
Minimum Commission for Forex	$6.00 per Round Lot	Commission-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 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	0.8 pips
Minimum Commission for Forex	$6.00 per Round Lot	Commission-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 Africa	Australia, Bermuda, Switzerland, Cyprus, Germany, Japan, New Zealand, Singapore, United States
Name of the Regulator	ASIC, CMA, CySEC, FSCA	FCA
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
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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 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.

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

• FP Markets vs FxPro
• FP Markets vs Exness
• FP Markets vs XTB
• IG Markets vs ActivTrades
• IG Markets vs Nadex
• IG Markets vs ETXcapital

Read full IG Markets Review

Read full FP Markets Review