FBS vs IC Markets: A Detailed Comparison for Paraguay Traders (2025)
Which broker is better for Paraguay traders in 2026? Expert analysis across 12 categories.
Paraguay traders seeking a reliable forex broker face a choice between FBS (score 3.7/5) and IC Markets (score 4.8/5). As the Paraguayan forex market grows, local traders need a broker that offers low costs, fast execution, and convenient payment methods like Bank Transfer, Skrill, Neteller, and USDT TRC20. FBS, established in 2009, is known for its user-friendly platform and low minimum deposit, making it accessible for beginners. However, IC Markets, founded in 2007, dominates with institutional-grade spreads, MetaTrader 4/5 and cTrader support, and a stellar reputation among active traders. This 2025 comparison focuses on what matters most to Paraguay retail traders: trading costs, deposit/withdrawal convenience, regulatory safety, and platform features. Whether you trade from Asunción or Ciudad del Este, understanding these differences will help you choose the broker that aligns with your trading style and local needs.
| 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 Paraguay 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, while FBS charges spreads from 0.7 pips on its ECN account with no commission. On a standard account, FBS spreads average 1.2 pips for EUR/USD, compared to IC Markets' 0.6 pips. For a Paraguay trader executing 10 lots per month, IC Markets saves approximately $120 in spread costs. Swap rates also favor IC Markets, with lower overnight fees. The cost difference is significant for active traders, making IC Markets the more economical choice despite the commission.
| 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 |
|---|---|---|
| Paraguay (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 and MetaTrader 5, which are widely used by Paraguay traders. IC Markets also provides cTrader, a platform favored for its advanced charting and one-click trading. FBS has its own FBS Trader app, which is beginner-friendly but lacks the depth of cTrader. For Paraguay traders who value mobile trading, both platforms have robust apps. However, IC Markets' cTrader offers superior order execution and custom indicators, ideal for scalpers and day traders. FBS's platform is simpler but sufficient for long-term investors.
| 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 |
Execution quality is a differentiator. IC Markets offers ultra-low latency execution with servers in New York, London, and Tokyo, ensuring minimal slippage for Paraguay traders. FBS execution is reliable but slower, with average latency of 10-20ms. IC Markets uses No Dealing Desk (NDD) execution with direct market access, while FBS uses a hybrid model. For Paraguay traders who scalp or trade high-frequency strategies, IC Markets' execution speed is superior. FBS is adequate for swing traders and position traders.
| 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 | ✓ | ✓ |
Regulation is crucial for Paraguay traders. FBS is regulated by CySEC (Cyprus) and IFSC (Belize), while IC Markets is regulated by ASIC (Australia), CySEC, and FSA (Seychelles). Neither broker is directly overseen by Paraguay's local financial regulator, but both adhere to international standards like client fund segregation and negative balance protection. IC Markets' ASIC regulation is considered stricter, offering higher investor protection. Paraguay traders should note that funds held with these brokers are not covered by local deposit insurance, so choosing a well-regulated broker like IC Markets adds an extra layer of security.
| 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 |
Paraguay traders can fund their accounts using Bank Transfer, Skrill, Neteller, and USDT TRC20 with both brokers. FBS accepts a minimum deposit of $5 via USDT TRC20, making it highly accessible. IC Markets requires a $200 minimum deposit, which may be a hurdle for beginners. Withdrawals are processed within 1-2 business days for e-wallets and 3-5 days for bank transfers. USDT TRC20 deposits are instant and fee-free for both brokers. FBS offers more local payment options like AstroPay, while IC Markets supports PayPal. For Paraguay traders, USDT TRC20 is the fastest and most cost-effective method, especially given the country's growing crypto adoption.
| 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 FBS and IC Markets offer Islamic (swap-free) accounts for Paraguay Muslim traders. These accounts comply with Sharia law by not charging or paying interest on overnight positions. FBS provides them upon request via customer support, while IC Markets offers them automatically for standard and raw spread accounts. No additional fees are applied. For Paraguay traders who require swap-free trading, both brokers are suitable, but IC Markets' automatic provision is more convenient. It's important to note that Islamic accounts may have restrictions on certain instruments or holding periods.
| 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 |
Customer support for Paraguay traders is available 24/7 from both brokers. FBS offers support in Spanish, including phone and live chat, which is beneficial for local traders. IC Markets also provides 24/7 multilingual support via live chat, email, and phone, with Spanish-speaking agents available. Response times are similar, averaging under 1 minute for live chat. IC Markets' support is slightly more professional, with detailed knowledge base articles, while FBS focuses on quick, friendly service. Both are adequate for Paraguay traders.
| 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 trader with a small capital (minimum deposit $5).
- Prefer Spanish-language support and a simple platform.
- Want to use USDT TRC20 for low-cost deposits.
- Trade less frequently and don't need ultra-low spreads.
Choose IC Markets if you...
- Are an active or professional trader requiring tight spreads.
- Need advanced platforms like cTrader and MetaTrader 5.
- Value high execution speed and regulatory oversight (ASIC).
- Have a larger deposit ($200+) and prefer PayPal or bank transfers.
For Paraguay traders in 2025, IC Markets is the superior choice overall, with a 4.8/5 score, lower spreads, and better execution. It is ideal for active traders who can meet the $200 minimum deposit and want institutional-grade tools. FBS, with a 3.7/5 score, is a solid alternative for beginners or those with smaller capital, offering low entry barriers and USDT TRC20 deposits. Both brokers support Paraguay payment methods like Bank Transfer, Skrill, Neteller, and USDT TRC20, but IC Markets' stricter regulation (ASIC) and faster execution give it an edge. Consider your trading frequency, budget, and platform needs. Ultimately, IC Markets is recommended for most Paraguay retail traders seeking cost efficiency and reliability.