FBS vs IC Markets 2026: Which ASIC-Regulated Broker is Best for Australia Traders?

When comparing trading costs for Australia traders, IC Markets clearly outperforms FBS. IC Markets offers Raw Spread accounts with spreads from 0.0 pips and a commission of $3.50 per lot per side, making it ideal for scalpers and high-volume traders. FBS spreads start at 0.2 pips on its Zero Spread account, but with higher commissions. For standard accounts, IC Markets spreads average 0.6 pips with no commission, while FBS standard spreads are around 1.0 pip. Over 100 trades per month, IC Markets can save Australian traders hundreds of dollars in spreads, especially when trading major pairs like AUD/USD.

Both brokers offer MetaTrader 4 and 5, but IC Markets provides additional platforms like cTrader and WebTrader, which are popular among Australian traders for their advanced charting and order management. FBS focuses on MT4/MT5 with a proprietary app for mobile trading. IC Markets' cTrader is particularly favored for its depth of market and one-click trading, essential for fast-moving markets. For Australia traders who need reliable execution during volatile sessions, IC Markets' platform suite offers more flexibility.

IC Markets is renowned for its execution speed, with average order execution under 40 milliseconds using Equinix NY4 servers. This is critical for Australian traders during high-volatility sessions like ASX openings. FBS execution is reliable but slower, averaging around 100 milliseconds. For scalpers and algorithmic traders, IC Markets' low-latency infrastructure provides a clear edge.

Both FBS and IC Markets are regulated by ASIC, ensuring Australia traders benefit from strict oversight, client fund segregation, and negative balance protection. IC Markets has a stronger reputation for compliance, with no major regulatory issues in Australia. FBS, while ASIC-licensed, has faced some international scrutiny, though its Australian operations remain compliant. For Australia traders, choosing an ASIC-regulated broker means access to the Financial Ombudsman Service (FOS) for dispute resolution, adding an extra layer of protection.

Australia traders can fund their accounts at both FBS and IC Markets using BPAY, POLi, Bank Transfer, and Credit Card (Visa/Mastercard). Deposits are processed instantly with BPAY and POLi, and typically free of fees for AUD accounts. IC Markets also supports PayPal, while FBS offers additional e-wallets like Skrill and Neteller. Withdrawals are efficient: IC Markets processes within 1 business day for bank transfers, while FBS may take 2-3 days. Both brokers do not charge internal fees, but third-party bank charges may apply. For high-volume traders, IC Markets' faster withdrawal times are a notable advantage.

Both FBS and IC Markets offer Islamic (swap-free) accounts for Muslim traders in Australia. IC Markets provides swap-free accounts on all account types, including Raw Spread and Standard, without any time limit. FBS offers Islamic accounts on select account types, but may apply a fee after a certain period. For Australian Muslim traders seeking long-term compliance, IC Markets is the more flexible option, while FBS is suitable for shorter-term trading needs.

IC Markets offers 24/7 customer support via live chat, email, and phone, with a dedicated team for Australian traders during Sydney hours. FBS provides 24/5 support with live chat and email, but phone support is limited. Both brokers have extensive FAQ sections, but IC Markets' response times are faster, averaging under 2 minutes for live chat queries.