Alison Heyerdahl
Edited by
Author
Alison Heyerdahl
Edited by
Alison Heyerdahl
Head of Content

Alison Heyerdahl is the Head of Content at FxScouts and a financial writer with extensive experience in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast to help traders make informed, safe decisions.

Learn more about Alison Heyerdahl
Author
Author
Chris Cammack
Partner Manager and Financial Writer

Chris Cammack is the Partner Manager and a financial writer at FxScouts. Chris builds and maintains our relationships with our partners to provide our users with the best Forex trading experience.

Learn more about Chris Cammack

FxPro vs. IC Markets

In the fast-paced world of forex trading, choosing the right broker is crucial. IC Markets and FxPro are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.

Select broker to compare

Brokers Comparison
Our Score
4.39
/ 5
4.46
/ 5
Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Assets Available
Education & Research
Customer Service
Beginner Friendly
Analysis Research
Min. Deposit
USD 100
USD 200

Regulations

Regulation
Cyprus Securities and Exchange CommissionDubai Financial Services AuthorityFinancial Conduct AuthorityFinancial Sector Conduct Authority
Securities Commission of the Bahamas
Capital Markets AuthorityCyprus Securities and Exchange CommissionSecurities Commission of the BahamasThe Seychelles Financial Services Authority
Trading Desk Type
Market Maker NDD
ECN/DMA
Trading Instruments
Cryptocurrencies, Energies, Stock CFDs, Forex, Futures, Indices, Metals
Bonds, Commodities, Cryptocurrencies, Stock CFDs, Forex, Futures, Indices

Conditions

Forex Pairs
70
64
Crypto Pairs
30
18
Pros
  • Well regulated
  • Great platform choice
  • Tight spreads
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Great platform choice
Cons
  • Limited education
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Great platform choice
% Lose with this broker
75%
70.81%
Leverage
30:1
30:1
Spread
0.40 pips
0.10 pips
Hedging
Yes
Yes
Scalping
Yes
Yes
Account Types
FxPro cTrader, FxPro MT4, FxPro MT5, Islamic, ProEdge
RAW - cTrader, RAW - MetaTrader, Standard - MetaTrader
Islamic Account
Yes
Yes
Trading Platforms
cTrader, MT4, MT5, FxProEdge
cTrader, MT4, MT5, TradingView
Funding Methods
Bank Transfer, Mastercard, Neteller, Paypal, Skrill, Unionpay, Visa
Bank Transfer, Mastercard, Neteller, Paypal, Skrill, Visa
Trading Commissions
9 USD / lot
7 USD / lot - Raw Spread Account
Fusion Markets Fusion Markets
FxPro
IC Markets
Trust Rating
4.5
4.5
Trading Conditions
4.5
4
Trading Platforms
5
5
Deposit & Withdrawal
5
4
Assets Available
3.5
4.5
Education & Research
3.5
5
Customer Service
4.5
4.5
Beginner Friendly
4
3
Analysis Research
3
5
Overall Rating
4.39
/ 5
4.46
/ 5

How Do IC Markets and FxPro Compare?

The radar chart above illustrates the comparison between IC Markets and FxPro across several key metrics, with the highest possible score being 100 in each category.

Helping You Choose the Right Broker

At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated IC Markets and FxPro, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.

Trust and Regulation

Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses.  We also consider numerous factors when deciding which tier a regulator belongs to. Regulators that we rank as the world’s top regulators, gets a tier 1 rank, while regulators who only scores a tier 5-rank, provide virtually no regulatory oversight. The more top-tier authorities regulating a broker, the higher its trust rating. Read more about regulation and our tier system here.

In our comparison:

  • IC Markets holds two Tier 1 and one Tier 2 licences.
  • FxPro holds one Tier 1 and no Tier 2 licences.

Based on these findings, FxPro earned a higher trust rating than IC Markets.

Is FxPro financially regulated?

Yes FxPro was founded in 2006 and is regulated by CySEC, DFSA, FCA, FSCA and SCB.

Is IC Markets financially regulated?

Yes IC Markets was founded in 2007 and is regulated by CMA, CySEC, SCB and FSA-Seychelles.

Trading Costs Comparison

When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.

We found that IC Markets has overall lower trading costs than FxPro.

Top Overall Rating Bokers

Trading Platforms Offered

Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.

  • IC Markets supports cTrader, MT4, MT5 and TradingView
  • FxPro supports cTrader, MT4, MT5 and FxProEdge

Copy Trading Availability

Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both FxPro and IC Markets offer copy trading.

Range of Trading Instruments

A broader range of CFD instruments provides more trading opportunities. FxPro offers a greater variety of instruments compared to IC Markets:

  • FxPro: 70 Forex pairs.
  • IC Markets: 64 Forex pairs.

Cryptocurrency Trading

For those interested in trading cryptocurrencies, FxPro offers 30 cryptocurrencies, while IC Markets offers 18 cryptocurrencies. Therefore, FxPro is the better choice for cryptocurrency trading.

Deposit and Withdrawal Processes

Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that IC Markets charges a withdrawal fee and FxPro does not. Overall, FxPro has better deposit and withdrawal processes than IC Markets. 

Educational Support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

IC Markets has better educational support than FxPro. Both FxPro and IC Markets offer educational support for more experienced traders.

Market Analysis Materials

Access to frequent and high-quality market research and analysis is crucial.

We found that IC Markets offers better research analysis than FxPro and that both FxPro and IC Markets offer frequent webinars.

Overall Verdict

  • IC Markets:

    An excellent all-round broker with a very high trust rating, IC Markets was founded in 2007 in Australia and holds licences from some of the strictest regulators in the world. IC Markets is well-known for its low trading costs, choice of trading platforms, and wide range of trading tools.

    IC Markets offers a lower-cost trading environment than almost any other broker, with average spreads of 0.10 pips (EUR/USD) on its Raw Spread Account in exchange for a low commission of 6 USD (round turn) per lot.IC Markets is one of the few Forex brokers to support all four major trading platforms, including MetaTrader4, MetaTrader5, TradingView, and cTrader; and offers numerous trading tools for each, including VPS services, Trading Central, and various copy trading services.

    Beginner traders will benefit from IC Markets’ exceptional customer support, which is available 24/7 to help with any account or technical queries. While its education section is more comprehensive than most other brokers’, it offers a fairly limited selection of market analysis materials.

  • FxPro:

    FxPro is a well-regulated broker with a wide range of accounts, reasonable minimum deposits, and an excellent selection of trading platforms. Filipino traders should be aware that they will be onboarded through FxPro’s Bahamas-based entity, meaning traders have few legal rights in the event of a dispute with the company. 

    Other issues we found with FxPro are that its trading costs are generally much higher than other brokers and its education and market analysis are limited. But we were impressed with how easy-to-use FxPro’s mobile trading app was and the quality of customer support we received. Support is available in a range of languages, 24 hours a day, seven days a week.

Overall Ratings

  • IC Markets: 4.46
  • FxPro: 4.39

For more detailed reviews, please read our comprehensive assessments of IC Markets and FxPro.

Fusion Markets
AvaTrade
ASIC, VFSC
Regulators
ASIC, FSCA
500:1
Leverage
30:1
MT4, MT5
Platforms
MT4, MT5
0 pips
Min. Spread
0.9 pips
AUD 0
Min. Deposit
USD 100
Exness
XM
FSCA, FSA-Seychelles
Regulators
CySEC, ASIC
Unlimited:1
Leverage
30:1
MT4, MT5
Platforms
MT4, MT5
0.1 pips
Min. Spread
0.6 pips
USD 3
Min. Deposit
USD 5
Pepperstone
XM
FCA, ASIC
Regulators
CySEC, ASIC
30:1
Leverage
30:1
MT4, MT5
Platforms
MT4, MT5
0 pips
Min. Spread
0.6 pips
USD 0
Min. Deposit
USD 5
IC Markets
FxPro
CySEC, FSA-Seychelles
Regulators
FCA, CySEC
30:1
Leverage
30:1
MT4, MT5
Platforms
MT4, MT5
0.1 pips
Min. Spread
0.4 pips
USD 200
Min. Deposit
USD 100
NAGA
Fibo Group
CySEC, FSA-Seychelles
Regulators
CySEC, BaFin
1000:1
Leverage
1000:1
MT4, MT5
Platforms
MT4, MT5
0.7 pips
Min. Spread
0.2 pips
USD 10
Min. Deposit
USD 0
AvaTrade
Pepperstone
ASIC, FSCA
Regulators
FCA, ASIC
30:1
Leverage
30:1
MT4, MT5
Platforms
MT4, MT5
0.9 pips
Min. Spread
0 pips
USD 100
Min. Deposit
USD 0
XM
HFM
CySEC, ASIC
Regulators
CySEC, FCA
30:1
Leverage
2000:1
MT4, MT5
Platforms
MT4, MT5
0.6 pips
Min. Spread
0.0 pips
USD 5
Min. Deposit
USD 0
HFM
IC Markets
CySEC, FCA
Regulators
CySEC, FSA-Seychelles
2000:1
Leverage
30:1
MT4, MT5
Platforms
MT4, MT5
0.0 pips
Min. Spread
0.1 pips
USD 0
Min. Deposit
USD 200
FBS
Pepperstone
CySEC, ASIC
Regulators
FCA, ASIC
3000:1
Leverage
30:1
MT4, MT5
Platforms
MT4, MT5
0.7 pips
Min. Spread
0 pips
USD 5
Min. Deposit
USD 0
Tickmill
Pepperstone
CySEC, FCA
Regulators
FCA, ASIC
30:1
Leverage
30:1
MT4, MT5
Platforms
MT4, MT5
0.0 pips
Min. Spread
0 pips
USD 100
Min. Deposit
USD 0
Unbiased Expertise

Independent, in-depth reviews and comparisons of all well-regulated Forex brokers, empowering you to make informed choices.

Educational Resources

Comprehensive guides for all levels, from the basics of Forex to advanced strategies tailored for your experience.

Transparent Information

A focus on facts, accuracy, and up-to-date data to give you the insights you need to succeed in your Forex journey.

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Best Brokers Uganda 2025

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Countries Regulated
Minimum Spread EUR/USD
Minimum Deposit
Trading cost/lot EURUSD
Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission.
Broker Score
Broker Website
Select and Compare
ASIC Regulated Forex BrokersVanuatu
0 pips
AUD 0
USD 4.50
4.41
/ 5
FSCA Regulated Forex BrokersThe Seychelles Financial Services AuthorityCapital Markets AuthorityBritish Virgin Islands Financial Services Commission
Financial Services CommissionJordan Securities Commission
0.10 pips
USD 3
USD 7
4.32
/ 5
FCA Regulated BrokersASIC Regulated Forex BrokersCySEC Regulated BrokersDubai Financial Services Authority
Bundesanstalt für FinanzdienstleistungsaufsichtSecurities Commission of the BahamasCapital Markets Authority
0 pips
USD 0
USD 10
4.61
/ 5
CySEC Regulated BrokersThe Seychelles Financial Services AuthoritySecurities Commission of the BahamasCapital Markets Authority
0.10 pips
USD 200
USD 8
4.46
/ 5
CySEC Regulated BrokersThe Seychelles Financial Services AuthorityFinancial Regulatory Services Authority
0.70 pips
USD 10
USD 17
4.14
/ 5
ASIC Regulated Forex BrokersFSCA Regulated Forex BrokersCySEC Regulated BrokersFinancial Services Agency
Central Bank of IrelandFinancial Regulatory Services AuthorityIsrael Securities Authority
0.90 pips
USD 100
USD 9
4.59
/ 5
CySEC Regulated BrokersASIC Regulated Forex BrokersDubai Financial Services AuthorityInternational Financial Services Commission
FSCA Regulated Forex Brokers
0.60 pips
USD 5
USD 6
4.45
/ 5
CySEC Regulated BrokersFCA Regulated BrokersFSCA Regulated Forex BrokersDubai Financial Services Authority
Financial Services CommissionThe Seychelles Financial Services AuthorityCapital Markets Authority
0 pips
USD 0
USD 10
4.53
/ 5
CySEC Regulated BrokersASIC Regulated Forex BrokersInternational Financial Services Commission
0.70 pips
USD 5
USD 7
4.33
/ 5
CySEC Regulated BrokersFCA Regulated BrokersFSCA Regulated Forex BrokersThe Seychelles Financial Services Authority
Dubai Financial Services Authority
0 pips
USD 100
USD 6
4.58
/ 5
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Let's Talk Forex with Alison & Chris


Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.

The FxScouts podcast helps beginner Forex traders get the best start to their trading careers.