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IC Markets or FP Markets?

  • #21
  • Feb 17, 2020 2:40am Feb 17, 2020 2:40am
Quoting catmes
I traded with icmarkets, they are ok. In general icmarket and fpmarkets are also brokers under asic license

Yes both are under ASIC and have similar EU, offshore licenses. Nothing much differentiating the brokers on this aspect.

However, in Trading conditions and Support i think FP Markets have a slight edge over IC.
  • #22
  • Mar 2, 2020 6:00am Mar 2, 2020 6:00am
Thanks for all your help guys, i opened a account with FP Markets a couple of weeks ago.

And yes, based on my initial deposit they did provide me with a free VPS.

So far so good, will keep you guys updated on how it goes.
  • #23
  • Mar 5, 2020 3:35pm Mar 5, 2020 3:35pm
Quoting FlavioEstev
Thanks for all your help guys, i opened a account with FP Markets a couple of weeks ago. And yes, based on my initial deposit they did provide me with a free VPS. So far so good, will keep you guys updated on how it goes.
Is their 0.0 pip spread real? Also where does one have to pay for missing spreads? Higher commission, transaction fees, swaps?
500:1 max seems good but what is stop-out and till what max lot size this 500:1 holds and within what stop-out (and margin call, but stop-out is what interests me).
I like that they have many withdrawal options... So please report how it is going.. Also, do they offer neg. balance protection? I think they do not, similar that IC doesn't, right?
Can you afford to take that chance?
  • #24
  • Mar 6, 2020 2:15am Mar 6, 2020 2:15am
Quoting auricforecas
{quote} Is their 0.0 pip spread real? Also where does one have to pay for missing spreads? Higher commission, transaction fees, swaps? 500:1 max seems good but what is stop-out and till what max lot size this 500:1 holds and within what stop-out (and margin call, but stop-out is what interests me). I like that they have many withdrawal options... So please report how it is going.. Also, do they offer neg. balance protection? I think they do not, similar that IC doesn't, right?

Yes, their Spreads are definitely real. FP Markets Raw spread account have some of the lowest spreads that i've seen. Check screenshot of current EU spread from my live account with them.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 135 KB


And yes you pay a commission of $3 per lot. But it is not higher, in fact lower compared to competing brokers with similar spreads (If you go through a IB you even get a discount on that). Stop out level is at 50%.

As far as i am aware, they do not have any restrictions on the lot size even if you have leverage of 500:1. I can confirm this for the Forex and Metals as i have entered some heavy lots, for other products you can verify with their live chat though.
  • #25
  • Mar 6, 2020 10:09am Mar 6, 2020 10:09am
Quoting Jlrobert
{quote} Yes, their Spreads are definitely real. FP Markets Raw spread account have some of the lowest spreads that i've seen. Check screenshot of current EU spread from my live account with them. {image} And yes you pay a commission of $3 per lot. But it is not higher, in fact lower compared to competing brokers with similar spreads (If you go through a IB you even get a discount on that). Stop out level is at 50%. As far as i am aware, they do not have any restrictions on the lot size even if you have leverage of 500:1. I can confirm this for the...
Really? Nice. So what you are saying is 500:1 can be entered for Metals (Gold or XAU/USD in particular) also? What about Energy, WTI or XTI/USD for example)?
So what is the actual spread for EURUSD, GOLD, WTI (with all the transactions from deposit to withdrawal, only added commission in between?). All can be entered at 500:1 max position? Well 50% stop-out is rather high for WTI, GOLD at 500:1 max bit it comes down to spread, commission costs... So please let us know from actual trades how does it cost... I have seen some good brokers before offering much but then I found it costs me more than I expected... But from what you described, seems interesting, from what I heard/red so far
Can you afford to take that chance?
  • #26
  • Mar 6, 2020 3:01pm Mar 6, 2020 3:01pm
First of all, I'm not a representative or IB of Fp Markets or IC markets — the studies that you'll see are completely unbiased.

My friends and I did them to find the best brokers in terms of different aspects of trading styles using myfxbook, so the data is from real trading accounts.

there are some miscalculations on myfxbook regarding commission, swap, etc that we corrected them in our calculations.

I have to say that FP Markets is one of the best brokers in the industry right now for different reasons, however, IC market is one of the best ones as well.

here's a post where we did a study to find the best brokers for scalping:
https://offbeatforex.com/best-forex-...-for-scalping/

if you are looking for a good broker for your EA or even scalping in 1 min and need a fast execution broker, here's a study on the execution speed of some of the best brokers as well as a method that you can use to that yourself:

by the way, FP Market along with Pepperstones are the best ones in this category.

https://offbeatforex.com/best-forex-...ecution-speed/

If you are a news trader, here's a study that shows which brokers have the highest and lowest slippage on some important news events
https://offbeatforex.com/forex-broke...-trading-news/

If you are a position trader or even swing trader who keep your position open for days, weeks, or even months and look for the best swap rates, this might help you:
https://offbeatforex.com/best-forex-...-term-trading/

There are other studies for gold trading, swap free, and etc that you can find there. I don't want to stuff this post with links more than this, so if you're looking for anything else you might find them on the site.

I hope this will help you
  • #27
  • Mar 6, 2020 9:21pm Mar 6, 2020 9:21pm
Always thought IC Markets were pretty good so not sure if the reviews are valid. I do know that with everything there seems to be good and bad reviews and sometimes it is the client complaining without valid reason or an off day from their support staff. It is really difficult to judge by reviews alone and I am also looking to open more accounts now as I need different types of accounts and leverage. I would advise you to always read the small print and look for what any broker may allow and prohibit. Some will not guarantee to honour take profit or stop loss and depending on regulation and brokers also may risk negative balance. Have an email and phone discussion with their staff as well. I wish I could help more with FP but no expeirence with them. I myself am looking for a new broker for intensive high frequency scalping and a broker with high leverage as well as other needs. I need to do some research into best brokers myself and will try to help out in a few months what my experience is.
  • #28
  • Mar 8, 2020 6:21am Mar 8, 2020 6:21am
ICmarkets are brokers that I know they offer very low spreads. lower spreads are more beneficial to scalping traders.
  • #29
  • Mar 12, 2020 1:11am Mar 12, 2020 1:11am
Quoting catmes
ICmarkets are brokers that I know they offer very low spreads. lower spreads are more beneficial to scalping traders.
I use to trade with IC at the beginning they were good but after a while their execution was slower and spreads not that great, which is why i moved to FP Markets.

Check Myfxbook spreads and it will show you that FP Markets spreads are lower compared to IC.
  • #30
  • Mar 16, 2020 4:31pm Mar 16, 2020 4:31pm
So FP markets offer 500:1 and neg. balance protection? What is their stop-out (not margin call)? 50%?
Also what is the SPREAD cost equivalent or in other words, where do they get the money when spread is 0.0?
Commission, transaction, deposit/withdrawal or other fees?
Also would love to see how their offered VPS looks like, some screenshot would be nice or something, tnx
BTW, irrelevant, but FP reminds me of FAP too much Maybe intentionally? ))
Can you afford to take that chance?
  • #31
  • Edited 7:26am Mar 24, 2020 7:00am | Edited 7:26am
Yes, FP Markets does offer 500:1 leverage through their Australian entity. However, their EU entity offers a max of 30:1 due to EU regulations.

Their stop out is 50%.

Their Raw account has some of the lowest spreads like 0.0 pips. This account has a commission of 3$ per lot (still cheaper than most other similar brokers though).
  • #32
  • Mar 24, 2020 7:37am Mar 24, 2020 7:37am
IC Live Account,

Seeing an 80pip fixed spread on Gold.

This was at 20 for most of the day.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 27 KB
  • #33
  • Mar 25, 2020 8:27am Mar 25, 2020 8:27am
Quoting FlavioEstev
Does anyone have experience with IC Markets or FP Markets? I'm looking for my new broker after a few months break from trading (family reasons). Too many contradictions online, I need traders with real live experience with them.
Neither OP, they are bother bucketshops.

Read my thread if you want to find a reputable broker.
https://www.forexfactory.com/showthread.php?t=987254
  • #34
  • Apr 3, 2020 4:06pm Apr 3, 2020 4:06pm
I just checked on FP Markets, its website look 99% similar to IC markets.

Are they literally the same company?
  • #35
  • Apr 4, 2020 1:13am Apr 4, 2020 1:13am
I have been trading at ICMarkets, I find they offer lower spread than many other brokers. however, they gave me syneylles license while they also got Asic license.
  • #36
  • Apr 4, 2020 2:21am Apr 4, 2020 2:21am
Quoting catmes
I have been trading at ICMarkets, I find they offer lower spread than many other brokers. however, they gave me syneylles license while they also got Asic license.
Were you able to trade yesterday the 3rd of April around 8pm UK time? I am using IC market and I couldn't open any trade yesterday on anything, for example US30 or us Oil

It says trade is disabled
  • #37
  • Apr 6, 2020 4:55am Apr 6, 2020 4:55am
Quoting luckyvictor
I just checked on FP Markets, its website look 99% similar to IC markets. Are they literally the same company?
Judging by website look only or due to AU origin or something else even? Some companies use similar templates, even for platforms or even "white label" solutions. But you got me interested if they are really connected (much) and want to cover different segments 8under same roof maybe). Also it would give me some more assurance since I already know IC...
Can you afford to take that chance?
  • #38
  • Apr 6, 2020 7:25am Apr 6, 2020 7:25am
Quoting auricforecas
{quote} Judging by website look only or due to AU origin or something else even? Some companies use similar templates, even for platforms or even "white label" solutions. But you got me interested if they are really connected (much) and want to cover different segments 8under same roof maybe). Also it would give me some more assurance since I already know IC...
Did you have trade disabled issue on Friday with IC markets?
  • #39
  • Apr 6, 2020 7:41am Apr 6, 2020 7:41am
Quoting luckyvictor
{quote} Did you have trade disabled issue on Friday with IC markets?
Don't know, did't trade on Friday with IC.
Can you afford to take that chance?
  • #40
  • Apr 6, 2020 10:17am Apr 6, 2020 10:17am
Quoting auricforecas
{quote} Judging by website look only or due to AU origin or something else even? Some companies use similar templates, even for platforms or even "white label" solutions. But you got me interested if they are really connected (much) and want to cover different segments 8under same roof maybe). Also it would give me some more assurance since I already know IC...
I don't think they are connected though. From what i can see FP Markets was established in 2005 and IC only a couple of years later in 2007?

The only association i can see is they both (along with other brokers) are a part of Australian CFD & FX association https://www.cfdfxassociation.com.au/
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