FP Markets
IG
FP Markets vs IG
A detailed side-by-side comparison based on our hands-on testing across 8 scoring categories.
FP Markets and IG are both popular choices for forex and CFD traders, but they cater to different needs and experience levels. FP Markets, founded in 2005 and headquartered in Sydney, Australia, is regulated by ASIC, CySEC and offers spreads starting from 0.0 pips with a minimum deposit of $100. IG, established in 1974 in London, UK, holds licenses from FCA, ASIC, MAS, BaFin with spreads from 0.6 pips and a $250 minimum deposit. In our hands-on testing across 8 scoring categories, IG scored 9.2/10 overall compared to FP Markets's 8.2/10, making it the stronger pick for most traders. That said, FP Markets holds its own with overall value, so your ideal broker depends on what you prioritize in a trading partner.
Key Differences at a Glance
- 📊
IG scores 9.2/10 overall vs 8.2/10 for FP Markets — a 1.0-point difference.
- 💵
FP Markets requires just $100 to start, while IG needs $250 — FP Markets is 3x more accessible.
- 📈
IG offers 17,000+ instruments vs 10,000+ at FP Markets — a notable difference in market coverage.
- 🖥️
FP Markets runs on MT4, MT5, cTrader, IRESS, while IG uses IG Platform, MT4, ProRealTime, L2 Dealer — different ecosystems for different trading styles.
- ⚡
The biggest gap is in Education: IG scores 9.0 vs 7.0 for FP Markets — a 2.0-point difference.
Our Verdict
FP Markets
Score: 8.2/10 · Wins 0 categories- You prefer a low minimum deposit ($100)
- You prefer FP Markets's trading environment overall
IG
Score: 9.2/10 · Wins 6 categories- You're a beginner who values learning resources
- You need advanced trading platforms and tools
- Top-tier regulation and fund safety are your priority
- Responsive customer support matters to you
IG takes the lead with an overall score of 9.2/10 compared to 8.2/10, winning in 6 out of 8 scoring categories. IG stands out for better trading platforms and stronger regulation, while FP Markets remains a solid alternative.
Detailed Verdict
After testing both brokers with real accounts, IG comes out ahead with a 9.2/10 overall rating, winning 6 out of 8 categories. Its strongest area is Regulation & Trust where it scores 10.0/10. IG holds Tier 1 regulation, meaning your funds benefit from top-level investor protection including segregated accounts and compensation schemes. FP Markets is not without merit — it scores 8.2/10 overall and excels in Trading Costs (8.5/10). For a complete breakdown, read our full IG review and FP Markets review — both include account opening walkthroughs, platform screenshots, and withdrawal test results.
Score Breakdown
IG wins by 1.0 points
IG wins by 1.5 points
IG wins by 2.0 points
IG wins by 0.5 points
IG wins by 2.0 points
IG wins by 1.5 points
Full Feature Comparison
| Feature | ||
|---|---|---|
| Overall Score | 8.2/10 | 9.2/10 ✓ |
| Min Deposit Lower is better | $100 ✓ | $250 |
| Max Leverage | 1:500 | 1:200 |
| Spreads From | 0.0 pips | 0.6 pips |
| Platforms | MT4, MT5, cTrader, IRESS | IG Platform, MT4, ProRealTime, L2 Dealer |
| Regulation | ASIC, CySEC | FCA, ASIC, MAS, BaFin |
| Founded Older track record highlighted | 2005 | 1974 ✓ |
| Markets | 10,000+ | 17,000+ ✓ |
Fees & Costs
When it comes to trading costs, FP Markets has the edge with a score of 8.5/10 versus 8.5/10 for IG. FP Markets offers spreads starting from 0.0 pips, while IG starts from 0.6 pips. The minimum deposit at FP Markets is $100, compared to $250 at IG. Both brokers operate primarily on a spread-based pricing model, though actual costs vary by account type and instrument. For high-volume traders, even small spread differences add up significantly over time, making this an important category to weigh carefully.
Trading Platforms
IG scores 9.5/10 for platforms compared to 8.5/10 for FP Markets. FP Markets provides MT4, MT5, cTrader, IRESS, while IG offers IG Platform, MT4, ProRealTime, L2 Dealer. The choice of platform affects your charting, order execution speed, and available technical indicators. Traders who rely on MetaTrader's algorithmic trading capabilities should check which MT4/MT5 features each broker supports, including custom indicators and expert advisors.
Regulation & Safety
Regulation is crucial for fund safety. FP Markets is regulated by ASIC, CySEC (Tier 1), while IG holds licenses from FCA, ASIC, MAS, BaFin (Tier 1). FP Markets scores 8.5/10 and IG scores 10/10 in this category. Tier 1 regulators like FCA, ASIC, and CySEC offer the strongest investor protection, including segregated client funds and compensation schemes. Always verify your broker's specific license for your jurisdiction before opening an account.
Education & Research
For learning resources, IG leads with 9/10 compared to 7/10. Quality education materials can shorten your learning curve significantly. Look for brokers offering structured courses, live webinars, and practice demo accounts. FP Markets and IG both provide demo accounts for risk-free practice, but the depth of educational content varies. Beginners should prioritize this category when choosing between the two.
Customer Support
FP Markets offers 24/7 Live Chat, Email, Phone and scores 8/10, while IG provides 24/5 Live Chat, Email, Phone with a score of 8.5/10. Reliable support becomes critical during market volatility or when you encounter account issues. Look for brokers with 24/5 or 24/7 availability, multiple contact channels, and support in your preferred language.
Deposit & Withdrawal
FP Markets scores 8/10 for deposits and withdrawals, while IG scores 8/10. FP Markets accepts Bank Transfer, Credit Card, PayPal, Skrill, Neteller, and IG supports Bank Transfer, Credit Card, PayPal. Processing times, fees, and available currencies vary. FP Markets requires a minimum deposit of $100 versus $250 for IG. Always check withdrawal conditions and any potential fees before funding your account.
Which Broker Is Right for You?
Choose FP Markets if you...
- You prefer a low minimum deposit ($100)
- You prefer FP Markets's trading environment overall
Choose IG if you...
- You're a beginner who values learning resources
- You need advanced trading platforms and tools
- Top-tier regulation and fund safety are your priority
- Responsive customer support matters to you
🗳️ Which Broker Do You Prefer?
Cast your vote — see what other traders think
Frequently Asked Questions
Is FP Markets better than IG?
IG scores higher overall (9.2/10 vs 8.2/10), winning 6 of 8 categories. However, FP Markets remains competitive. The best choice depends on what matters most to your trading style.
Which has lower fees, FP Markets or IG?
FP Markets scores higher for trading costs. FP Markets offers spreads from 0.0 pips with a $100 minimum deposit, while IG starts from 0.6 pips with $250 minimum. Actual trading costs depend on your instrument, volume, and account type.
Is FP Markets safe to trade with?
FP Markets is regulated by ASIC, CySEC and scores 8.5/10 for regulation. IG is regulated by FCA, ASIC, MAS, BaFin with a score of 10/10. Both hold recognized licenses, but verify the specific entity covering your region.
Which has better trading platforms, FP Markets or IG?
IG scores 9.5/10 for platforms. FP Markets offers MT4, MT5, cTrader, IRESS, while IG provides IG Platform, MT4, ProRealTime, L2 Dealer. Your ideal platform depends on whether you prefer proprietary tools, MetaTrader, or third-party solutions.
What's the minimum deposit for FP Markets vs IG?
FP Markets requires a minimum deposit of $100, while IG requires $250. FP Markets has the lower entry barrier, making it more accessible for beginners or those testing with smaller amounts.
Ready to Start Trading?
Open a free account with either broker and start trading today.