IC Markets vs FxPro - Fees Review included
Which broker is better IC Markets or FxPro? Our expert assessment conducted according to TU’s own methodology showed that IC Markets is one of the top brokers in the financial market with the TU Overall Score of 8.62 out of 10. FxPro is one of the top brokers in the financial market with the TU Overall Score of 8.74 out of 10. Find out more about TU Overall Score.
Feature | IC Markets | FxPro |
---|---|---|
Overall |
4.7 |
4.6 |
5 |
5 |
|
4.9 |
3.9 |
|
4.6 |
4.6 |
|
Investment Instruments |
4.9 |
4.9 |
Platforms and Charting Tools |
4.4 |
4.2 |
Deposit and Withdrawal |
4.6 |
4.5 |
Research |
4.3 |
4.7 |
Education |
4.4 |
4.6 |
Support |
4.6 |
4.5 |
Bonuses |
2.5 |
2.5 |
|
|
IC Markets vs FxPro: Pros and Cons
IC Markets Trading Company was founded in 2007 in Sydney, Australia. The broker is licensed under the Australian Financial Services License (AFSL) and the Australian Securities and Investment Commission (ASIC). The broker is also a member of the Australian Financial Complaint Authority (AFCA), the governing body that sets the industry standard for the resolution of disputes between consumers and financial service providers, and regularly undertakes audits.
The FxPro broker was registered in July 2006 in Cyprus. The company’s activities are licensed by financial regulators: CySEC (Cyprus), Bahamas SCB, FCA (UK), and South African FSCA. FxPro is successfully operating in more than 170 countries for retail and institutional clients. The broker has received more than 85 awards, including “Best Forex Trading Platform” and “Best Trading Platform”. FxPro has become known for providing the best trading tools. With FxPro broker, traders can trade more than 70 currency pairs, futures and stocks (Twitter, Apple, Google). The company has stock indices, metals and energy resources at its disposal. FxPro sets high safety standards with the client's funds being kept in large international banks. They are insured and separated from the broker's equity.
IC Markets | FxPro | |
---|---|---|
Overall Pros | World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | Regulated in EU and Great Britain |
Advanced ECN trading | Big choice of ECN/STP accounts | |
Order execution speed 40 mc | insurance of client funds | |
Free VPS | Strong research and education | |
Trading servers in New York and London | PAMM and Copy-trading for investors | |
Strong regulation | Personal offers for VIP-clients | |
2000+ trading assets, 60+ currency pairs | ||
EURUSD Average spread 01 pip | ||
Overall Cons | No forex bonuses | High spreads and fees |
World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | No forex bonuses |
IC Markets vs FxPro: Safety and Regulation
Regulated By: | IC Markets | FxPro |
---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
AFCA (Australia) |
No |
Other Regulators |
Yes |
FSCA (South Africa), SCB (Bahamas) |
IC Markets vs FxPro: Trading Conditions
Trading Conditions | IC Markets | FxPro |
---|---|---|
Minimum Deposit |
$200 |
$100 |
Trading Platforms |
MT4, MT5, cTrader |
MT4, MT5, MultiTerminal |
Max Leverage (Futures) |
1-500 |
1:500 SCB regulation 1:30 (FCA, CySec regulation) |
Supported Markets |
Forex, futures, CFDs on indices, commodities, metals, stocks and bonds |
Forex, CFDs on indices cryptocurrencies, stocks, energy commodities |
Trading assets |
2000+ |
3000+ |
Trading Accounts |
cTrader, Raw Spread, Standard |
FxPro MT4 Instant (with fixed spreads), FxPro MT4 Instant (with floating spreads), FxPro MT4 Market, FxPro MT5, FxPro cTrader, VIP-account |
Base Account Currencies |
USD, AUD, GBP, CHF, JPY, NZD, SGD, CAD, HKD, BTC |
USD, EUR, PLN, GBP, AUD, CHF, JPY, ZAR |
IC Markets vs FxPro: Fees
Forex Trading Fees
Fee | IC Markets | FxPro |
---|---|---|
Standard Account EURUSD Average Spread |
0.62 pips |
2.4 pip |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$3 per lot |
Not offered |
ECN Account EUR Average Spread |
0.02 pip |
Not offered |
CFD Trading Fees
Fee | IC Markets | FxPro |
---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
Fee | IC Markets | FxPro |
---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
No |
$5 per month after 6 monthes without trades |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
IC Markets vs FxPro: Trading Assets
Asset Name | IC Markets | FxPro |
---|---|---|
Overall |
2000+ trading assets |
3000+ trading assets |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes (CFD) |
No |
Bonds |
Yes (CFD) |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes (CFD) |
No |
Binary Options |
No |
No |
IC Markets or FxPro: Investment Programs
Asset Name | IC Markets | FxPro |
---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
Yes |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: FxPro or IC Markets
IC Markets | FxPro | |
---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
Yes |
No |
Appropriate platform |
IC Markets terminal |
FxPro |
Others |
No |
No |
|
|
IC Markets vs FxPro: Deposit and Withdrawal Methods
Deposit and Withdrawal Method | IC Markets | FxPro |
---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes (Only Bahamas and South Africa regulated entities) |
Crypto |
No |
No |
IC Markets vs FxPro: Research
Research Type | IC Markets | FxPro |
---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
IC Markets vs FxPro: Education
Education Type | IC Markets | FxPro |
---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
No |
FxPro vs IC Markets: Support
Support Features | IC Markets | FxPro |
---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
IC Markets vs FxPro: Forex Bonuses and Promo
Promo | IC Markets | FxPro |
---|---|---|
Forex Bonus |
Not offered |
Not offered |
Affiliate Program |
% of trading commissions |
Up to $1.100 per client you introduce to FxPro |
Other Promos |
||
|
|
Top 5 Reviews on FxPro
-
Comment
To become a successful forex trader, you must know the four trading sessions and best time to trade in the most busy session. Forex trading sessions are times when the forex market is open and closed in different regions. You have to learn about these sessions to know when each opens and closes before you open a position. Out of the four sessions, new york and London is the ones with the highest trading volume and the best sessions to trade in if you want to trade in a busy market. I use the FXxPro Global Stock Exchanges session times to know what session is open and to monitor when two sessions overlap especially the New York and London overlap which is the best time to trade as it is known to have the heaviest volume of trading and is best for trading opportunities. Personally, this is one of the simple but helpful tools for day traders on FxPro.
-
Comment
You can transfer from your Fxpro wallet to your trading wallet 24/7. I happen to be busy during the weekdays and only trade during the weekends, now i want to transfer funds between my FxPro Wallet and trading accounts during the weekend to trade. The first time i tried i had few open positions and it stalled but after closing the positions it was successful. So transferring funds between fxpro wallet and trading accounts during weekends is possible if the specific trading account you are transferring from does not have any open positions. You will not be able to move money from an open trade you had over the weekend to your wallet until the market reopens on Sunday at 22:00 UK time.
-
Comment
When you encounter any challenge with your trade, the best option is to contact the customer service agent if you don't have any senior trader you can get help from at the moment. At least the Fxpro customer service is fast, responsive, and made up of experts. Issues with verifications, deposit and withdrawals are best handled by the support team, especially those that have to do with delay in funding accounts. You can use the FAQ option to solve some recurring issues as you can find answers given to traders who had similar challenges earlier. In one of the occasions connecting to the customer support was not going through so i decided to check the FAQ section. My challenge has to do with transferring from my wallet to my trading account. I solved this with the answer from the FAQ section.
-
Comment
Great broker FxPro. It has decent trading tools and a wide range of assets. This is good because the opportunity to invest in multiple financial markets simultaneously is an advantage for any trader. FxPro has a fairly professional customer support service, helping to resolve various issues. I've traded here on two platforms, and they both work quickly.
-
Comment
You can entrust FxPro with your money. As far as I know, the company has established itself as a decent broker and it would be surprising when they engage in manipulation here. I have been trading with FxPro for many years and during all this time I haven’t noticed any manipulations or bucket shop methods.
Top 5 Reviews on IC Markets
-
Comment
I decided to use the services of IC Markets not long ago. Now I think that not all negative reviews are justified. This is a good broker and I have already withdrawn profits several times, everything went without problems. IC Markets’ rates differ from those of other brokers. But you can adapt to this problem.
-
Comment
I initially paid $3000 to start with and an account manager demonstrated a growth of $500 in quick time. A specialist then came in and tried to get me to invest $25000 to which I bluntly denied and they tried with $20K, then $10K and even $5K to all of which I refused! They have now kept me hanging and I asked for a refund to which they are asking for more money from me and I don't know what more to do! Also as of yesterday, the site itself is DOWN!! I cannot log in anymore and the email contact i had from there, when i sent the email to check it came back saying that domain does not exist anymore!! I am at loss of words and my hard earned money unfortunately i was able to recover my money back with the help of Olivia teams get in touch with them oliviatrader 44 at gmail com WhatApp +1 (423) 248 - 2140
-
Comment
I was looking for a reliable broker and noticed the long existence and good reputation of ICMarkets. Moreover, my friend, who has been trading for a long time, recommended contacting them. After several years, I have become a more experienced trader and I am satisfied with the work of the broker.
-
Comment
I have been trading with IC Markets for some time now and I can draw some conclusions. The platform works stably, which indicates a serious approach to its work. Spreads are quite optimal, although for cryptocurrencies they are higher than average as compared to those of its competitors. Slippages occur, there is nothing you can do about it. But there are no problems with requotes at all. In general, I think it’s possible to rate IC Markets “good”.
-
Comment
There are many advantages to IC Markets broker. First, of course, is the presence of a license from a reputable regulator. Accounts can be opened for citizens of many countries. Second, the platform works very well. Order execution speed is high, and you can actively trade manually or with the help of an advisor. I am quite satisfied with IC Markets as a broker.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.