FBS vs IC Markets: Monaco Trader Comparison 2025
Which broker is better for Monaco traders in 2026? Expert analysis across 12 categories.
Monaco traders looking for a reliable forex broker in 2025 often compare FBS and IC Markets. FBS holds a score of 3.7/5, while IC Markets leads with 4.8/5. Both brokers accept Monaco residents and support local payment methods like Bank Transfer, Skrill, Neteller, and USDT TRC20. However, they differ significantly in trading costs, regulation, and platform features. Monaco traders typically trade in USD and require fast execution, low spreads, and reliable customer support. IC Markets is known for its institutional-grade infrastructure, while FBS offers a more beginner-friendly experience with flexible account types. This comparison will help you decide which broker suits your trading style and local needs in Monaco.
| Instrument | FBS | IC Markets | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | IC Markets |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | IC Markets |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | IC Markets |
| Standard acc spread | from 1.0 pips | from 0.8 pips | IC Markets |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $1 | $200 | FBS |
| Inactivity fee | ✓ | ✓ | Tie |
For Monaco traders, trading costs are a key factor. IC Markets offers spreads from 0.0 pips on its Raw Spread account with a $3.5 commission per lot per side. FBS has wider spreads, starting from 0.7 pips on its ECN account with a $6 commission. Over 100 trades per month, IC Markets can save you $250+ in spread costs. Monaco traders trading larger volumes will benefit more from IC Markets' lower costs.
| Account Type | FBS | IC Markets |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✗ | ✓ |
| Zero spread account | ✗ | ✓ |
| Copy trading | ✗ | ✗ |
| VPS trading | ✗ | ✓ |
| Min deposit | $1 | $200 |
| Neg. balance protection | ✓ | ✓ |
| Entity / Asset | FBS | IC Markets |
|---|---|---|
| Monaco (offshore) | Up to 1:3000 | Up to 1:500 |
| Forex major pairs | 1:3000 | 1:500 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
| Margin call level | 80% | 80% |
| Stop out level | 50% | 50% |
| Asset Class | FBS | IC Markets | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ | FBS |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | FBS |
| Crypto CFDs | 30+ | 20+ | FBS |
| Stocks / Share CFDs | ✗ | ✗ | IC Markets |
| ETFs | ✗ | ✗ | Tie |
| Options | ✗ | ✗ | Tie |
| Futures | ✗ | ✗ | Tie |
| Platform | FBS | IC Markets |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✓ |
| MetaTrader 5 (MT5) | ✓ | ✓ |
| cTrader | ✗ | ✓ |
| TradingView | ✗ | ✗ |
| Expert Advisors (EAs) | ✓ | ✓ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
| Fixed spreads | ✓ | ✗ |
| Variable spreads | ✓ | ✓ |
Both brokers offer MetaTrader 4, MetaTrader 5, and cTrader. IC Markets also provides WebTrader and mobile apps. Monaco traders value reliability and speed; IC Markets' servers are located in London and New York for low latency. FBS platforms are user-friendly but may have slightly slower execution. For scalping and algorithmic trading, IC Markets is preferred.
| Factor | FBS | IC Markets | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | IC Markets |
| Avg execution speed | ~30ms | ~40ms | FBS |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Dealing desk | ✗ | ✗ | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| News trading | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✓ | Tie |
IC Markets offers ultra-fast execution with an average speed of 40ms, ideal for Monaco scalpers and day traders. FBS execution is slower, averaging 100ms, which can affect slippage during volatile markets. IC Markets uses Equinix data centers for low latency, while FBS relies on standard servers.
| Safety Factor | FBS | IC Markets |
|---|---|---|
| Primary regulator | IFSC | ASIC |
| Reg number | #IFSC/60/230/TS/19 | #335692 |
| Verify registration | Verify ↗ | Verify ↗ |
| Top-tier regulated | ✗ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
IC Markets is regulated by ASIC (Australia) and CySEC (Cyprus), offering strong client fund segregation and negative balance protection. FBS is regulated by IFSC (Belize) and CySEC, which provides less robust oversight. Monaco traders should note that neither broker is regulated by the local financial regulator, but IC Markets' ASIC regulation adds a layer of security. FBS has a history of minor regulatory issues.
| Payment Method | FBS | IC Markets |
|---|---|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| USDT / Crypto | ✓ | ✓ |
| Deposit fee | None | None |
| Withdrawal time | 15-20 minutes for most methods; up to 48 hours for bank transfer | E-wallets instant-24hrs; Cards 3-5 business days (up to 10); Int'l bank wire up to 14 days |
| Min withdrawal | $50 | $50 |
Monaco traders can deposit and withdraw using Bank Transfer, Skrill, Neteller, and USDT TRC20 at both brokers. IC Markets has no deposit fees and processes withdrawals within 24 hours for e-wallets. FBS may charge fees for certain methods and takes 1-3 business days. USDT TRC20 is particularly fast and low-cost for crypto-savvy Monaco traders. Minimum deposits are $5 for FBS and $200 for IC Markets.
| Islamic Account Feature | FBS | IC Markets |
|---|---|---|
| Swap-free available | ✓ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| Gold swap-free | ✓ | ✓ |
| Crypto swap-free | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Both brokers offer Islamic (swap-free) accounts for Monaco Muslim traders. FBS provides them on all account types without restrictions. IC Markets offers Islamic accounts on Standard and Raw Spread accounts, but not on cTrader. No additional fees are charged, but IC Markets may require a request for activation. Monaco traders can trade interest-free with either broker.
| Support Feature | FBS | IC Markets | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✗ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| 24/5 support | ✓ | ✓ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | FBS |
IC Markets offers 24/7 multilingual support via live chat, email, and phone. FBS provides 24/5 support with slower response times. Monaco traders may prefer IC Markets for faster issue resolution, especially during European trading hours. FBS support is adequate but less responsive.
| Mobile Feature | FBS | IC Markets | Winner |
|---|---|---|---|
| iOS App Store rating | 4.5★ | 4.3★ | FBS |
| Google Play rating | 4.3★ | 4.2★ | FBS |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| Mobile deposit/withdrawal | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✗ | Tie |
| Dark mode | ✓ | ✓ | Tie |
| Resource | FBS | IC Markets | Winner |
|---|---|---|---|
| Video tutorials | 100+ videos | 50+ videos | FBS |
| Webinars (live) | Weekly | ✗ | FBS |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | FBS |
| Beginner resources | Excellent | Basic | FBS |
Choose FBS if you...
- Are a beginner Monaco trader with a small deposit (from $5)
- Prefer a wide range of account types, including Islamic accounts on all plans
- Want to trade with lower minimum trade sizes
- Need a broker with a simpler platform interface
Choose IC Markets if you...
- Are an active Monaco trader seeking ultra-low spreads and fast execution
- Trade high volumes or use scalping/EA strategies
- Value strong regulation (ASIC) and client fund security
- Prefer multiple platform options like cTrader and MetaTrader
For Monaco traders, IC Markets is the clear winner with a 4.8/5 rating, lower spreads, and faster execution. It suits active traders and those who prioritize cost efficiency and regulation. FBS, with a 3.7/5 rating, is better for beginners or those needing Islamic accounts on all plans. Both support local payments like Bank Transfer, Skrill, Neteller, and USDT TRC20. Consider your trading volume and experience when choosing. IC Markets is our top recommendation for most Monaco traders in 2025.