FBS vs IC Markets: Which Broker is Best for New Zealand Traders in 2026?

For New Zealand traders, trading costs are a critical factor. FBS offers spreads from 0.7 pips on its ECN account and charges a commission of $6 per lot. IC Markets, on the other hand, provides spreads from 0.0 pips on its Raw Spread account with a commission of $3.50 per lot per side. For a typical New Zealand trader executing 10 lots per month, IC Markets saves approximately $25 in spreads compared to FBS. Additionally, IC Markets has no hidden fees, while FBS may charge inactivity fees after 180 days. Overall, IC Markets is more cost-effective for active Kiwi traders.

Both brokers offer MetaTrader 4 and MetaTrader 5, which are popular among New Zealand traders for their advanced charting and automated trading capabilities. IC Markets also provides cTrader, a platform known for its intuitive interface and depth of market, ideal for scalpers. FBS offers its proprietary FBS Trader app, which is mobile-friendly but less feature-rich. For New Zealand traders who value speed and customization, IC Markets’ cTrader is a standout, while FBS’s simplicity may suit beginners.

IC Markets is known for its ultra-fast execution speeds of under 40ms on MetaTrader 4, ideal for scalping and high-frequency trading. FBS execution speeds average around 100ms, which may cause slippage during volatile markets. For New Zealand traders trading major pairs like NZD/USD, IC Markets’ execution quality is superior.

Regulation is key for New Zealand traders. IC Markets is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), offering strong investor protection. FBS is regulated by CySEC and the International Financial Services Commission (IFSC) of Belize, which provides less stringent oversight. While both brokers accept New Zealand clients, IC Markets’ ASIC regulation gives it an edge in terms of fund security and transparency. New Zealand traders should note that neither broker is directly regulated by the local financial regulator, but IC Markets’ higher-tier regulation offers added confidence.

New Zealand traders can deposit and withdraw using Bank Transfer, Skrill, Neteller, and USDT TRC20 at both brokers. FBS supports additional methods like Bitcoin and Perfect Money, while IC Markets focuses on the most common options. Deposits are free and processed instantly for e-wallets, while bank transfers may take 1-3 business days. Withdrawals are also free at both brokers, but IC Markets processes them within 24 hours, whereas FBS may take up to 48 hours. For New Zealand traders using USDT TRC20, both brokers offer low fees, but IC Markets has a minimum deposit of $200, while FBS allows as low as $5.

Both FBS and IC Markets offer Islamic (swap-free) accounts for New Zealand Muslim traders. FBS provides Islamic accounts on all account types without additional fees, while IC Markets offers them on Standard and Raw Spread accounts after a request via customer support. FBS’s Islamic accounts are automatically applied, making it more convenient. However, IC Markets’ swap-free accounts are compliant with Sharia law and do not charge overnight interest. New Zealand traders should verify conditions, as some brokers may charge a fee after a holding period.

IC Markets offers 24/7 live chat, email, and phone support in multiple languages, including English. FBS provides similar support but has longer response times during peak hours. For New Zealand traders, IC Markets’ faster response and dedicated account managers for high-volume traders give it an advantage.