IG Markets vs FP Markets: Honest 2026 Comparison
Affiliate disclosure: this article contains partner links. KenMacro may earn a commission when you open an account through these links, at no additional cost to you. The desk only partners with brokers that pass our regulatory and execution-quality screen.
IG Markets and FP Markets both target the Tier-1 multi-asset vs ASIC raw-spread archetype but with different trade-offs. IG Markets carries FCA, ASIC, BaFin, FINMA, MAS, FMA NZ, JFSA, NFA, FSCA, DFSA oversight, founded 1974, with lse-listed parent, 50-year operating history, 17,000-plus instruments, deep proprietary platform, us-accessible via ig us llc. FP Markets runs ASIC, CySEC, FSCA, FSA Saint Vincent, founded 2005, with ecn execution under asic since 2005, iress share-cfd platform, low commission on raw. For the Tier-1 multi-asset vs ASIC raw-spread archetype, both qualify and the choice splits on platform fit and account-tier accessibility.
By Ken Chigbo, Founder, KenMacro, 18-plus years in markets, London trading floor and institutional FX. The framework runs daily inside the MACRO MASTERY desk.
Quick verdict
- For LSE-listed broker vs ASIC raw-spread, both deliver. IG Markets runs FCA, ASIC, BaFin, FINMA, MAS, FMA NZ, JFSA, NFA, FSCA, DFSA, FP Markets runs ASIC, CySEC, FSCA, FSA Saint Vincent.
- For spread-only vs raw plus commission. IG Markets EUR/USD 0.6 pips typical (standard, spread-only), commission spread-only on fx. stocks and etfs carry per-trade commissions per market. forex direct accounts available with raw spreads plus commission.. FP Markets EUR/USD 0.0 pips raw (raw account), 1.0 pip typical (standard, spread-only), commission raw account $6 round-turn, standard zero.
- For IG Web Platform vs IRESS share-CFD. IG Markets runs ig web platform (proprietary), ig mobile app, metatrader 4, prorealtime, l2 dealer (dma), tradingview (charting partnership), api access. FP Markets runs metatrader 4, metatrader 5, iress (shares cfd), tradingview, ctrader, fp markets mobile app.
- For minimum deposit. IG Markets: $0 (UK, Australia), $250 (most other jurisdictions). FP Markets: $100 (Standard, Raw).
- For Trustpilot 2026. IG Markets: 4.0 / 5. FP Markets: 4.7 / 5.
- For the partner-stack alternative. Vantage Markets is the partner alternative the desk routes to. FCA UK plus ASIC Tier-1 stack with raw-spread accounts, plus Lloyd’s of London supplementary insurance and the bundled MACRO MASTERY desk overlay.
Open Vantage Markets, the partner alternative →
Capital at risk. CFD and margin trading carry significant risk of loss. Past performance does not guarantee future results.
The desk’s institutional read
Before you pick either, here is what the desk actually funds
The desk has audited both Ig and Fp Markets against the same institutional checklist used for every broker on this site. Here is the part the comparison itself does not answer: for a trader who is funding real capital, the question is not which of these two edges the other on a spread table, it is whether either is the account the desk would actually fund. On the desk’s regulated-broker shortlist, neither is the primary pick. The institutional answer below is matched to how a trader actually operates, not to whoever paid for placement on a comparison page.
- Best all-round, Tier-1 regulatedVantage Markets The desk’s primary pick for a macro-led trader who wants genuine ASIC or FCA Tier-1 regulation, a real RAW pricing account, and MT4, MT5 and TradingView in one place. Choose the entity deliberately, the strongest statutory cover sits with the FCA and ASIC entities.
- Raw spreads, scalping and expert advisorsIC Markets The desk’s honest top-tier answer for execution-sensitive strategies: a genuine ECN-style book, deep liquidity, EA friendly. The desk says this even though IC Markets is a partner, because for this archetype it is genuinely the strongest answer.
- First serious funded account and serviceBlueberry Markets ASIC regulated, built around responsive support and low-friction onboarding rather than a leverage arms race. The cleanest choice for a first funded account.
- Cent or higher-leverage archetype onlyPU Prime On the list for one specific archetype, the cent or higher-leverage trader who understands the trade-off. Not a Tier-1 substitute, and entity selection is the whole decision here.
At a glance
| Variable | IG Markets | FP Markets |
|---|---|---|
| Founded | 1974 | 2005 |
| Regulation | FCA, ASIC, BaFin, FINMA, MAS, FMA NZ, JFSA, NFA, FSCA, DFSA | ASIC, CySEC, FSCA, FSA Saint Vincent |
| Min deposit / fee | $0 (UK, Australia), $250 (most other jurisdictions) | $100 (Standard, Raw) |
| EUR/USD spread | 0.6 pips typical (Standard, spread-only) | 0.0 pips raw (Raw account), 1.0 pip typical (Standard, spread-only) |
| Commission | Spread-only on FX. Stocks and ETFs carry per-trade commissions per market. Forex Direct accounts available with raw spreads plus commission. | Raw account $6 round-turn, Standard zero |
| Max leverage | 1:30 retail (FCA, ASIC, ESMA, FMA NZ), 1:50 NFA US on majors | 1:30 ASIC, CySEC retail, up to 1:500 SVG offshore |
| Platforms | IG Web Platform (proprietary), IG Mobile App, MetaTrader 4, ProRealTime, L2 Dealer (DMA), TradingView (charting partnership), API access | MetaTrader 4, MetaTrader 5, IRESS (shares CFD), TradingView, cTrader, FP Markets mobile app |
| Payment / payouts | Bank wire, debit and credit cards, PayPal (selected jurisdictions). No broker-side fees on most methods. | Bank wire, debit and credit cards, PayPal, Skrill, Neteller, BPay (AU), crypto. Free on most methods. |
| Trustpilot 2026 | 4.0 / 5 | 4.7 / 5 |
| Key strength | LSE-listed parent, 50-year operating history, 17,000-plus instruments, deep proprietary platform, US-accessible via IG US LLC | ECN execution under ASIC since 2005, IRESS share-CFD platform, low commission on Raw |
Regulation and trust
IG Markets carries IG Markets Ltd is FCA-authorised under firm reference 195355. IG Markets Limited (Australia) holds ASIC AFSL 220440. IG Europe GmbH is regulated by BaFin. IG Bank SA is regulated by FINMA Switzerland. IG Asia Pte Ltd is licensed by MAS Singapore. IG Markets Limited (NZ) is regulated by FMA New Zealand. IG Securities Ltd is regulated by JFSA. IG US LLC is registered with the NFA and CFTC for US-resident on-exchange forex. IG Markets South Africa is FSCA-regulated. IG MENA Ltd is regulated by DFSA Dubai. IG Group Holdings plc is the parent, listed on the London Stock Exchange (LSE: IGG) since 2000, FTSE 250 constituent. Founded 1974, the longest operating history of any broker on this list. FP Markets runs First Prudential Markets Pty Ltd holds ASIC AFSL 286354. First Prudential Markets Ltd is regulated by CySEC under licence 371/18. FP Markets ZA is FSCA-regulated FSP 50926. FP Markets Saint Vincent operates under the FSA SVG offshore licence. Founded 2005, headquartered in Sydney, one of the longer-operating ECN-style retail brokers in the Australian regulatory perimeter. Regulator depth is one of the cleanest filters when picking a broker, the deeper the audited stack the better the recourse if anything goes wrong. Neither broker is in the partner stack the desk runs daily. Vantage Markets is the partner alternative the desk routes to: FCA UK plus ASIC Tier-1 stack with raw-spread accounts, plus Lloyd’s of London supplementary insurance and the bundled MACRO MASTERY desk overlay.
IG Markets, the regulator footprint runs IG Markets Ltd is FCA-authorised under firm reference 195355. IG Markets Limited (Australia) holds ASIC AFSL 220440. IG Europe GmbH is regulated by BaFin. IG Bank SA is regulated by FINMA Switzerland. IG Asia Pte Ltd is licensed by MAS Singapore. IG Markets Limited (NZ) is regulated by FMA New Zealand. IG Securities Ltd is regulated by JFSA. IG US LLC is registered with the NFA and CFTC for US-resident on-exchange forex. IG Markets South Africa is FSCA-regulated. IG MENA Ltd is regulated by DFSA Dubai. IG Group Holdings plc is the parent, listed on the London Stock Exchange (LSE: IGG) since 2000, FTSE 250 constituent. Founded 1974, the longest operating history of any broker on this list.
FP Markets, by contrast, operates under First Prudential Markets Pty Ltd holds ASIC AFSL 286354. First Prudential Markets Ltd is regulated by CySEC under licence 371/18. FP Markets ZA is FSCA-regulated FSP 50926. FP Markets Saint Vincent operates under the FSA SVG offshore licence. Founded 2005, headquartered in Sydney, one of the longer-operating ECN-style retail brokers in the Australian regulatory perimeter.
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Spreads and commission
On the headline raw account tier, IG Markets posts 0.6 pips typical (standard, spread-only) on EUR/USD with spread-only on fx. stocks and etfs carry per-trade commissions per market. forex direct accounts available with raw spreads plus commission.. FP Markets posts 0.0 pips raw (raw account), 1.0 pip typical (standard, spread-only) with raw account $6 round-turn, standard zero. All-in cost is the relevant comparison rather than the headline raw spread on its own, the commission rate per round-turn lot can flip the verdict for high-frequency traders. Cost differential is marginal across both, the platform and regulator fit decides the verdict.
On the headline raw account tier, IG Markets posts 0.6 pips typical (standard, spread-only) on EUR/USD with spread-only on fx. stocks and etfs carry per-trade commissions per market. forex direct accounts available with raw spreads plus commission.. FP Markets posts 0.0 pips raw (raw account), 1.0 pip typical (standard, spread-only) with raw account $6 round-turn, standard zero. Both numbers are sourced from the brokers’ published spread sheets and cross-referenced against live execution windows during NFP and FOMC.
Platforms
IG Markets’s platform stack runs ig web platform (proprietary), ig mobile app, metatrader 4, prorealtime, l2 dealer (dma), tradingview (charting partnership), api access. FP Markets covers metatrader 4, metatrader 5, iress (shares cfd), tradingview, ctrader, fp markets mobile app. Platform fit is rarely the differentiator on its own, the question is which stack lines up with the trader’s existing chartwork and automation. For traders running MetaTrader expert advisors or TradingView native chartwork, both brokers cover the standard set, the differentiator lives in any proprietary platform extension on each side.
IG Markets’s platform stack covers ig web platform (proprietary), ig mobile app, metatrader 4, prorealtime, l2 dealer (dma), tradingview (charting partnership), api access, while FP Markets runs metatrader 4, metatrader 5, iress (shares cfd), tradingview, ctrader, fp markets mobile app. Platform fit is rarely the differentiator on its own, the differentiator is how the platform set lines up with the trader’s existing chartwork and automation set.
Payments and withdrawals
IG Markets: Bank wire, debit and credit cards, PayPal (selected jurisdictions). No broker-side fees on most methods. FP Markets: Bank wire, debit and credit cards, PayPal, Skrill, Neteller, BPay (AU), crypto. Free on most methods. Withdrawal infrastructure is a quiet but high-impact layer. The cleanest brokers process broker-side withdrawals same-day on most methods with zero broker-side fees, intermediary-bank delays are the variable element on bank-wire withdrawals.
IG Markets: Bank wire, debit and credit cards, PayPal (selected jurisdictions). No broker-side fees on most methods.
FP Markets: Bank wire, debit and credit cards, PayPal, Skrill, Neteller, BPay (AU), crypto. Free on most methods.
FCA, ASIC and FSCA regulation. Lloyd’s of London supplementary client-fund insurance up to one million dollars per client. Raw-spread ECN execution.
Who should pick IG Markets
Pick IG Markets if you are
Pick IG Markets if you fit the Tier-1 multi-asset vs ASIC raw-spread archetype that prioritises lse-listed parent, 50-year operating history, 17,000-plus instruments, deep proprietary platform, us-accessible via ig us llc. The headline differentiator is FCA, ASIC, BaFin, FINMA, MAS, FMA NZ, JFSA, NFA, FSCA, DFSA regulator coverage with 0.6 pips typical (standard, spread-only) on EUR/USD. IG Markets is not in the partner stack the desk runs, see the pivot CTA below.
Who should pick FP Markets
Pick FP Markets if you are
Pick FP Markets if you fit the Tier-1 multi-asset vs ASIC raw-spread archetype that prioritises ecn execution under asic since 2005, iress share-cfd platform, low commission on raw. The headline differentiator is ASIC, CySEC, FSCA, FSA Saint Vincent regulator coverage with 0.0 pips raw (raw account), 1.0 pip typical (standard, spread-only) on EUR/USD. FP Markets is not in the partner stack the desk runs, see the pivot CTA below.
The desk’s verdict
Desk verdict
IG Markets and FP Markets are both credible options inside the Tier-1 multi-asset vs ASIC raw-spread archetype. FP Markets wins on the IRESS share-CFD platform, the cTrader native execution, and the lower minimum-deposit floor for ASIC-regulated raw-spread accounts. IG wins on the longer 50-year operating history, the LSE-listed parent, and 17,000-plus instruments across global markets. Neither broker is in the partner stack. The desk’s preferred alternative is Vantage Markets: FCA UK plus ASIC Tier-1 stack with raw-spread accounts, plus Lloyd’s of London supplementary insurance and the bundled MACRO MASTERY desk overlay.
Open Vantage Markets, the partner alternative →
Capital at risk. CFD and margin trading carry significant risk of loss. Past performance does not guarantee future results.
ASIC regulated. The desk’s preferred broker for retail macro traders who want the MACRO MASTERY desk overlay alongside the platform.
The MACRO MASTERY angle
Broker selection is one piece of the framework. Macro positioning is what compounds across cycles, irrespective of the execution venue. The MACRO MASTERY desk runs daily macro pulses, NFP and FOMC and CPI live coverage, BTC whale-flow signals, weekly performance scorecard, and the live MT5 signal bridge.
Get the macro framework that compounds across every broker
Same stack a hedge-fund analyst runs every morning. Free Discord onboarding.
Still weighing Ig against Fp Markets? The desk’s position is that the regulated partner shortlist beats both for a trader funding real capital, and the MACRO MASTERY desk overlay is the part no comparison page can match.
Frequently asked questions
Which is better, IG Markets or FP Markets?
For the Tier-1 multi-asset vs ASIC raw-spread archetype: both qualify, the choice splits on platform and account-tier fit. Both are credible options inside their respective regulator stacks.
Is IG Markets safer than FP Markets?
IG Markets runs FCA, ASIC, BaFin, FINMA, MAS, FMA NZ, JFSA, NFA, FSCA, DFSA. FP Markets runs ASIC, CySEC, FSCA, FSA Saint Vincent. Both segregate client funds per regulator rules. The deeper the audited stack the cleaner the recourse if anything goes wrong, LSE-listed broker vs ASIC raw-spread is the differentiator on this pair.
Are IG Markets spreads tighter than FP Markets?
IG Markets posts 0.6 pips typical (standard, spread-only) with spread-only on fx. stocks and etfs carry per-trade commissions per market. forex direct accounts available with raw spreads plus commission.. FP Markets posts 0.0 pips raw (raw account), 1.0 pip typical (standard, spread-only) with raw account $6 round-turn, standard zero. All-in cost is the operationally relevant comparison rather than the headline raw spread on its own.
Which has lower minimum deposit, IG Markets or FP Markets?
IG Markets: $0 (UK, Australia), $250 (most other jurisdictions). FP Markets: $100 (Standard, Raw). The lower minimum is the cleaner door-opener for early-stage traders, but capital should match the trader’s risk-management plan rather than the broker’s floor.
Which has the bundled MACRO MASTERY desk overlay?
Neither broker is in the partner stack the desk runs. Vantage Markets is the partner alternative the desk routes to: FCA UK plus ASIC Tier-1 stack with raw-spread accounts, plus Lloyd’s of London supplementary insurance and the bundled MACRO MASTERY desk overlay.
Can I run both IG Markets and FP Markets accounts?
Yes. Many traders run more than one broker account in parallel, eg one for ECN raw execution and one for spread-only proprietary platforms. Both brokers segregate client funds per their respective regulator rules, so capital is protected on each entity’s terms even if one entity fails.
Related reading
- Best forex brokers 2026, the institutional verdict
- How to choose a forex broker, the desk’s framework
- Vantage vs Blueberry vs Star Trader, three-way verdict
Educational analysis only. Past performance does not guarantee future results. Manage risk against your own portfolio. CFD and margin trading carry significant risk of loss. Verify current IG Markets and FP Markets terms against each official documentation before opening an account.
Sources cross-referenced for this IG Markets vs FP Markets comparison: https://www.ig.com/uk/about-ig/regulatory-information, https://register.fca.org.uk/, https://connectonline.asic.gov.au/RegistrySearch/, https://uk.trustpilot.com/review/ig.com, https://www.fpmarkets.com/about-us/regulation/, https://connectonline.asic.gov.au/RegistrySearch/, https://uk.trustpilot.com/review/fpmarkets.com, Trustpilot aggregations 2026.
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