FP Markets vs IC Markets: Which Broker Is Better In 2026?
IC Markets and FP Markets are two of the strongest global active-trader brokers in the GradTraders broker bank. IC Markets wins the complete comparison at 9.2/10 because it combines Raw pricing, cTrader, TradingView and direct GradTraders trading and withdrawal evidence. FP Markets earns 9.0/10 and remains the stronger specialist alternative when Iress, exchange-style share-market tools or a different global account structure are genuine requirements.
By
Matthew Jackson
, GradTraders
Live trading on YouTube
Updated 24 July 2026
Disclosure & Risk Notice: This article is for educational and informational purposes only and should not be considered financial advice, investment advice, tax advice or a personal recommendation. Trading CFDs, spread betting, forex, crypto CFDs and other leveraged products involves significant risk and may not be suitable for all traders. You may lose some or all of your capital. Some GradTraders articles may contain affiliate links or references to partner offers. If you sign up, purchase or open an account through certain links, GradTraders may earn a commission at no additional cost to you.
Partner disclosure: GradTraders has commercial relationships with IC Markets and FP Markets. If you open an eligible account through the tracked links below, GradTraders may earn commission at no additional cost to you. This does not change the independent 9.2/10 and 9.0/10 ratings or the comparison verdict. Open an IC Markets account or open an FP Markets account.
Quick Verdict: IC Markets Wins Overall, FP Markets Wins The Iress Use Case
IC Markets wins this comparison by 9.2/10 to 9.0/10. The deciding evidence is its Raw pricing structure, cTrader and TradingView workflow, strong fit for short-term index and forex trading, and my completed personal withdrawals.
FP Markets remains a high-quality specialist alternative. It supports MT4, MT5, cTrader and TradingView on relevant routes, while Iress gives eligible traders a distinctive exchange-pricing, market-depth and portfolio-management option.
The result is not a draw because the 24-broker master bank places IC Markets two tenths ahead. FP Markets can still be the better broker for a specific trader, but it needs a clear reason—usually Iress, a particular Raw route, specialist share-market access or an entity whose conditions are preferred.
Wins through direct-use evidence, Raw pricing, cTrader, TradingView and completed withdrawals.
Wins when Iress, exchange pricing, market depth or a broader share-market workflow is genuinely required.
Both offer raw-style accounts, but the IC rating is supported by real GradTraders trading experience.
Neither broker should be chosen from the global brand name alone; the legal company and protection framework matter.
FP Markets vs IC Markets At A Glance
| Category | IC Markets Global | FP Markets | Winner |
|---|---|---|---|
| GradTraders rating | 9.2/10 · Active-Trader Broker Benchmark | 9.0/10 · Flexible Global Active-Trader Route | IC Markets Overall |
| Review evidence | Direct trading, platform and multiple-withdrawal evidence. | Research-led analysis using official account, platform and entity material. | IC Markets |
| Core platforms | MT4, MT5, cTrader and TradingView. | MT4, MT5, cTrader and TradingView on supported regional routes. | Very Close |
| Specialist platform | No equivalent Iress route in the completed research. | Iress ViewPoint adds exchange pricing, depth and portfolio tools. | FP Markets |
| Raw pricing | Raw Spread MetaTrader and cTrader Raw account structures. | Raw MT4 and MT5 pricing, plus separate cTrader and Iress structures where available. | IC Markets Narrowly |
| Withdrawal confidence | Multiple completed personal withdrawals. | No equivalent direct GradTraders withdrawal evidence. | IC Markets |
| Share-market depth | Share CFDs through supported platforms and markets. | Iress creates a more specialist share and exchange-data proposition on eligible routes. | FP Markets |
| Best for | Experienced forex, index, CFD, cTrader and TradingView users. | Experienced traders who specifically require Iress or a different Raw/global route. | Different Traders |
How The 9.2 And 9.0 Ratings Should Be Read
The overall ratings come directly from the authoritative GradTraders 24-broker master bank. IC Markets is ranked above FP Markets, so the comparison must preserve that order while still explaining the categories FP Markets can win.
IC Markets earns the 9.2/10 benchmark position because strong active-trader conditions are supported by direct GradTraders use. FP Markets earns 9.0/10 because the Raw, cTrader, TradingView and Iress proposition is genuinely competitive, but the review remains research-led and the account route can be more complex.
| Evidence Area | IC Markets | FP Markets | Category View |
|---|---|---|---|
| Direct Account Evidence | Live trading, cTrader and TradingView use, platform observations and completed withdrawals. | Research-led; no equivalent live GradTraders account record. | IC Markets |
| Mainstream Platform Coverage | MT4, MT5, cTrader and TradingView. | MT4, MT5, cTrader and TradingView on supported regional routes. | Very Close |
| Specialist Platform Depth | Focused active-trader stack without Iress. | Iress adds exchange pricing, depth and portfolio functionality. | FP Markets |
| Raw Account Confidence | Raw Spread MetaTrader and cTrader Raw routes supported by direct use. | Competitive Raw MT4/MT5 structure with published 0.0-pip pricing. | IC Markets Narrowly |
| Entity Simplicity | The reviewed route is clearly identified as Raw Trading Ltd in Seychelles. | Several group entities and regional routes require closer product-level checking. | IC Markets Narrowly |
| Share-Market Specialisation | Conventional CFD route. | Iress provides the stronger specialist proposition. | FP Markets |
| Overall GradTraders Rating | 9.2/10 | 9.0/10 | IC Markets by 0.2 |
Read The Individual Reviews
The standalone reviews contain the complete account, entity, platform, pricing, withdrawal and suitability evidence behind the scores.
IC Markets Review 2026
Read the first-hand review covering the Standard, Raw Spread and cTrader Raw accounts, TradingView integration, leverage, entity trade-offs and completed withdrawals.
FP Markets Review 2026
Read the research-led review covering Raw pricing, MT4, MT5, cTrader, TradingView, Iress, legal entities and specialist active-trader suitability.
Platform Comparison: Tested Active Stack vs Iress Specialisation
Both brokers support the mainstream platforms active traders ask about. The practical distinction is direct confidence on the IC side and specialist Iress depth on the FP Markets side.
IC Markets Platforms
- MetaTrader 4 and MetaTrader 5.
- cTrader Raw account with Level II pricing.
- TradingView connection through the compatible cTrader route.
- Strong fit for short-term forex and index workflows.
- Platform confidence supported by my own account use.
- No Iress-equivalent specialist share suite.
Winner when: the trader wants a proven cTrader and TradingView active-trading route.
FP Markets Platforms
- MetaTrader 4 and MetaTrader 5.
- cTrader on supported regional routes.
- TradingView on supported regional routes.
- Iress ViewPoint for advanced market data and depth.
- Portfolio and exchange-style share functionality.
- Availability and charges require entity-level checking.
Winner when: Iress or specialist share-market tools are central to the account decision.
Platform verdict: FP Markets wins platform breadth through Iress. IC Markets wins practical active-trader confidence because its cTrader and TradingView route is directly tested by GradTraders.
Raw Pricing And Trading Costs
IC Markets Global offers Standard MetaTrader, Raw Spread MetaTrader and cTrader Raw account structures. Its current Raw Spread material advertises average EUR/USD spreads of 0.1 pips and MetaTrader commission of US$3.50 per standard lot per side.
FP Markets advertises Standard and Raw MT4/MT5 accounts. Its current general account material lists Raw spreads from 0.0 pips and commission of US$3 per lot per side, subject to entity and regional availability.
The lower published commission does not automatically make FP Markets cheaper. The result depends on the observed spread, instrument, financing, conversion, slippage, platform and execution environment. IC Markets wins narrowly because its pricing proposition is supported by direct GradTraders trading evidence.
Iress: FP Markets’ Main Advantage
Iress is the strongest reason to choose FP Markets over IC Markets. FP Markets describes Iress ViewPoint as an active-trader platform with real-time streaming, exchange pricing, market depth, watchlists and portfolio functionality.
This route is most relevant to share-focused or multi-market traders who need more than a normal forex and CFD platform. It may be unnecessary for a trader whose entire workflow is index CFDs, forex, cTrader or TradingView.
Iress can also involve minimum-balance, platform, data or brokerage conditions depending on the account and route. The platform advantage is therefore real but conditional.
Entity, Regulation And Client Protection
The IC Markets route reviewed by GradTraders is Raw Trading Ltd, regulated by the Seychelles Financial Services Authority under Securities Dealer licence SD018. It is regulated, but it is not equivalent to a UK FCA retail account.
FP Markets operates through several regulated and registered entities. Official group material identifies routes connected with Australia, Cyprus, South Africa and Seychelles, while regional sites and product access can differ.
Neither brand name should be treated as a single universal account. The trader must identify the contracting company, regulator, complaint route, client-money rules, leverage and negative-balance treatment before opening.
IC Markets wins this comparison narrowly on clarity because the direct-use account and its limitations are explicitly identified. FP Markets may provide a stronger protection route through a particular regulated entity, but that cannot be assumed without confirming eligibility.
Protection verdict: neither broker should be marketed as a simple UK-protection choice. Traders wanting a clearer FCA spread-betting route should compare Pepperstone, IG or CMC Markets.
My Direct Experience: Why IC Markets Wins
I use IC Markets Global for short-term CFD and index trading. My main focus is the Japan 225, especially around the Sunday futures open and Monday morning session. The spread, cTrader execution environment and TradingView workflow have suited that approach.
I have also completed multiple withdrawals. The first withdrawal sequence was confusing because deposited funds had to return through the original payment route before profits could move through another eligible method. Once understood, later withdrawals were straightforward.
I have not traded a live FP Markets account, so its 9.0/10 rating remains research-led. That does not diminish the platform or pricing proposition, but it means FP Markets does not have the same evidence behind the final comparison verdict.
This direct-use gap is why IC Markets wins by 0.2 rather than sharing a draw.
Which Broker Is Better For Forex And Index Traders?
IC Markets is the stronger GradTraders choice for forex and index traders who want Raw pricing, cTrader, TradingView and a broker tested through live use. Its account structures are clearly designed around high-volume, scalping, automated and short-term workflows.
FP Markets remains competitive and can be cheaper on a particular market or account. It becomes more compelling when the trader wants an alternative entity, a different Raw structure or additional platform flexibility.
For a trader whose requirements are limited to forex, indices, MetaTrader, cTrader and TradingView, Iress adds little. IC Markets therefore retains the clearer result.
Which Broker Is Better For Share-Market Specialists?
FP Markets wins the specialist share-market category because the Iress route offers exchange pricing, market depth and portfolio functionality that IC Markets does not match directly in this comparison.
The win is conditional. Traders should check instrument ownership or CFD status, market-data subscriptions, brokerage, platform costs, minimum balances, exchange access and the contracting entity.
Investors seeking an ISA, SIPP or conventional long-term portfolio account should compare dedicated investing brokers instead. Iress depth does not automatically turn FP Markets into the best tax-wrapper or passive-investing platform.
Which Broker Should You Choose?
For The 9.2/10 Benchmark
- You want the higher master-bank score.
- You value direct GradTraders account evidence.
- You want Raw pricing, cTrader or TradingView.
- You trade forex, indices or short-term CFDs.
- You understand the Seychelles entity trade-offs.
- Iress is not required.
For Specialist Flexibility
- You specifically require Iress.
- You need exchange pricing or deeper share tools.
- You want another competitive Raw account route.
- You have verified cTrader or TradingView availability.
- You understand the exact contracting entity.
- You accept research-led rather than direct-use evidence.
Research Further
- You are a complete beginner.
- You need an FCA spread-betting account.
- You want an ISA, SIPP or simple investing app.
- You have not compared total trading costs.
- You do not understand leverage or CFDs.
- You have not identified the legal entity.
Other Brokers Worth Comparing
| Broker | GradTraders Position | Why Compare It? |
|---|---|---|
| Pepperstone | 9.1/10 · Best UK Active-Trader Route | FCA regulation, spread betting, Razor pricing and five platforms. |
| Interactive Brokers | 8.9/10 · Serious Trader & Investor Route | Broader listed-market, futures, options and professional investment infrastructure. |
| IG | 8.8/10 · Established UK All-Rounder | A clearer FCA route, spread betting, investing and wider traditional UK ecosystem. |
| CMC Markets | 8.7/10 · UK Platform Leader | Next Generation and mature UK spread-betting access. |
Related GradTraders Reviews And Guides
| Guide | Why Read It? |
|---|---|
| Broker Comparison Table 2026 | See the authoritative IC Markets 9.2 and FP Markets 9.0 positions. |
| IC Markets vs Pepperstone | Compare IC Markets with the stronger UK-regulated active-trader route. |
| Pepperstone vs FP Markets | See FP Markets compared with the 9.1/10 UK active-trader leader. |
| Best Active-Trader Brokers | Place both brokers inside the wider active-trader shortlist. |
| Support, Funding & Reliability | Compare the direct withdrawal evidence behind the IC Markets advantage. |
| Regulation & Client Protection | Compare the account-entity risks shared by both global broker routes. |
Final Verdict: IC Markets Wins 9.2 To 9.0
IC Markets is the overall GradTraders winner and remains the Active-Trader Broker Benchmark. Its Raw pricing, cTrader and TradingView workflow, multiple completed withdrawals and direct fit for my index trading justify the 9.2/10 position.
FP Markets remains a serious 9.0/10 specialist alternative. It can be the better account when Iress, exchange-style share data, a different Raw route or another verified global entity is central to the decision.
The comparison should not be presented as a draw. FP Markets wins the Iress and specialist share-market use case, but IC Markets wins the complete active-trader decision by 0.2.
GradTraders verdict: choose IC Markets for the tested Raw, cTrader and TradingView benchmark. Choose FP Markets when a verified specialist platform or share-market requirement is more important than direct GradTraders account evidence.
FP Markets vs IC Markets FAQ
Is IC Markets better than FP Markets?
IC Markets ranks higher at 9.2/10 and wins the complete GradTraders comparison. Its advantage comes from Raw pricing, cTrader, TradingView and direct trading and withdrawal evidence.
Is FP Markets better than IC Markets for share traders?
FP Markets can be better for eligible traders who specifically require Iress, exchange pricing, market depth and specialist share-market tools. The account route, fees and entity must be verified.
Which broker has better platform choice?
FP Markets has the broader specialist platform range because it adds Iress. IC Markets has the stronger directly tested active-trader stack across MT4, MT5, cTrader and TradingView.
Which broker has lower spreads?
Both advertise raw-style pricing. IC Markets receives the stronger overall pricing position because its account costs are supported by direct GradTraders use, but the cheapest broker depends on the exact instrument and total cost.
Which broker is better for cTrader?
Both support cTrader on relevant routes. IC Markets has the stronger GradTraders evidence because Matthew Jackson uses its cTrader account directly.
Which broker is better for TradingView?
Both support TradingView through compatible account routes. IC Markets has the stronger directly tested workflow, while FP Markets may appeal where TradingView is combined with another FP platform or entity preference.
Are FP Markets and IC Markets suitable for beginners?
Both are more naturally suited to traders who understand CFDs, leverage, platforms and entity risk. Beginners should start with education and demo practice before using leveraged products.
Which broker would Matthew Jackson choose?
Matthew Jackson would choose IC Markets because he uses it directly and has completed multiple withdrawals. FP Markets remains the stronger alternative when Iress or another specialist requirement is essential.
Source note: This comparison combines the current GradTraders 24-broker bank, the individual IC Markets and FP Markets reviews, Matthew Jackson’s direct IC Markets account and withdrawal experience, and current official information covering Raw accounts, cTrader, TradingView, regulation and Iress.
Official IC Markets Global research: regulation · account overview · Raw Spread account · cTrader Raw · TradingView.
Official FP Markets research: account types · platform and market overview · cTrader · TradingView · Iress.
Useful GradTraders research: 24-Broker Comparison Table · Costs, Spreads, Execution & Leverage · Regulation & Protection.
Risk reminder: CFDs, leverage, margin, tax treatment, negative-balance exposure and investor protection vary by entity, product, country and classification. Confirm the exact legal route and current documents before funding an account.