FP Markets vs IG: A Comprehensive Comparison for United Kingdom Traders (2026)

When comparing trading costs for United Kingdom traders, FP Markets offers a clear advantage. Its Raw account provides spreads from 0.0 pips with a small commission, making it highly cost-effective for high-volume traders. IG’s standard account has spreads starting from 0.6 pips on EUR/USD, with no commission, but costs can add up for frequent traders. For UK traders using GBP, FP Markets’ lower spreads mean reduced costs on currency pairs involving the pound. Additionally, FP Markets has no hidden fees for deposits or withdrawals, while IG charges for certain payment methods like credit cards. Overall, FP Markets is more budget-friendly for active UK traders.

UK traders have distinct platform needs, and both brokers deliver. FP Markets supports MetaTrader 4, MetaTrader 5, and cTrader, offering flexibility for algorithmic and manual traders. IG provides its proprietary platform, IG Trading, which is user-friendly and integrates advanced charting tools like ProRealTime. For UK traders who prefer third-party platforms for expert advisors (EAs) or custom indicators, FP Markets is the better choice. IG’s platform is ideal for those who want a seamless, all-in-one experience with integrated news and analysis. Both brokers offer mobile apps, but FP Markets’ multi-platform support gives it an edge for tech-savvy UK traders.

Execution quality is crucial for UK traders, and both brokers perform well. FP Markets uses a No Dealing Desk (NDD) model with straight-through processing (STP) and ECN execution, offering fast order fills and low slippage. IG also uses STP execution but with a dealing desk for certain instruments, which can introduce requotes. For scalpers and high-frequency traders, FP Markets’ execution is superior, while IG is reliable for standard trading.

Both FP Markets and IG are regulated by the Financial Conduct Authority (FCA) in the United Kingdom, ensuring strict oversight and client protection. For UK traders, this means eligibility for the Financial Services Compensation Scheme (FSCS) up to £85,000 per person, as well as negative balance protection. IG, being headquartered in London, has a longer track record of FCA compliance. FP Markets, while Australian-based, maintains a separate FCA-regulated entity for UK clients, ensuring same protections. UK traders can trade with confidence knowing both brokers adhere to UK regulatory standards, including segregation of client funds.

United Kingdom traders benefit from convenient deposit and withdrawal options at both brokers. FP Markets and IG accept Bank Transfer, PayPal, Skrill, and Faster Payments, making it easy to fund accounts in GBP. Faster Payments are particularly popular among UK traders as they are instant and free. FP Markets also supports Neteller and UnionPay, while IG adds debit/credit cards and Apple Pay. Withdrawals are processed efficiently, with FP Markets typically completing them within 1-2 business days and IG within 1-3 days. Both brokers do not charge fees for deposits via these methods, though IG may apply a small fee for credit card withdrawals. Overall, UK traders have ample, low-cost payment options at both brokers.

For Muslim traders in the United Kingdom, both FP Markets and IG offer Islamic (swap-free) accounts that comply with Sharia law. These accounts do not charge or pay overnight interest on positions held beyond one day. FP Markets provides Islamic accounts on request for all account types, with no additional fees. IG offers swap-free accounts automatically for eligible clients, but traders must confirm eligibility during account opening. UK Muslim traders can trade forex and CFDs without concern for interest payments at either broker, though FP Markets’ more straightforward application process may be preferable.

UK traders can access customer support from both brokers via phone, email, and live chat. IG offers 24/5 support with a UK-based team, providing quick responses in English. FP Markets also provides 24/5 support but with a global team, which may lead to slightly longer wait times during UK peak hours. IG’s local presence gives it an edge for phone support, while FP Markets excels in live chat responsiveness. Both brokers have comprehensive FAQ sections on their websites.