IC Markets vs FxPro: Australia Trader Comparison 2026

For Australia traders, IC Markets offers lower overall trading costs, especially on its Raw Spread account with spreads from 0.0 pips and a $7 commission per lot (AUD 10.50). FxPro's Standard account has spreads from 0.6 pips with no commission, while its cTrader Raw account offers from 0.2 pips with a $4.5 commission per lot (AUD 6.75). For high-volume traders, IC Markets is more cost-effective, particularly on major forex pairs and indices like the ASX 200. Always consider your trading style: scalpers benefit from IC Markets, while swing traders may prefer FxPro's fixed spreads on some instruments.

Both brokers offer MT4 and MT5, which are popular among Australia traders for their custom indicators and automated trading. IC Markets also provides cTrader, a platform with advanced charting and order flow analysis. FxPro stands out by offering all three platforms plus its own FxPro Edge app. For Australia traders needing VPS hosting for EA trading, IC Markets offers a free VPS for high-volume accounts. FxPro does not provide free VPS but has a reliable mobile app for on-the-go trading. Choose IC Markets for algorithmic trading and FxPro for multi-platform flexibility.

IC Markets is known for its ultra-fast execution with an average speed of 40ms, ideal for scalpers and EA traders. It uses Equinix NY4 servers in New York and LD4 in London for low latency. FxPro offers execution speeds around 60ms, which is still competitive. For Australia traders trading volatile sessions like the Sydney open, IC Markets provides a slight advantage due to its lower latency and no requotes policy.

Both IC Markets and FxPro are regulated by ASIC, providing Australia traders with strong investor protection. IC Markets holds an Australian Financial Services Licence (AFSL) and segregates client funds in trust accounts. FxPro also holds an AFSL and is a member of the Financial Ombudsman Service (FOS) for dispute resolution. While both are ASIC-regulated, IC Markets is a pure Australian broker with local offices in Sydney, whereas FxPro is headquartered in the UK with an Australian subsidiary. For Australia traders, this means both offer the same level of regulatory safety, but IC Markets may have a slight edge in local support.

Australia traders can fund their accounts using BPAY, POLi, and Bank Transfer at both IC Markets and FxPro. IC Markets also accepts credit/debit cards (Visa, Mastercard), PayPal, Neteller, and Skrill. FxPro supports all these methods plus UnionPay. Deposits via BPAY and POLi are processed instantly, while bank transfers may take 1-2 business days. Withdrawals are free at IC Markets for most methods, with processing times of 1-2 days. FxPro charges a small fee for bank transfers but offers free withdrawals via e-wallets. Both brokers process withdrawals within 24 hours on business days. For Australia traders, BPAY and POLi are the most convenient options due to their speed and low fees.

Both IC Markets and FxPro offer Islamic (swap-free) accounts for Australia Muslim traders. IC Markets provides swap-free status upon request via customer support, applicable to all account types. FxPro offers Islamic accounts automatically on its Standard and Raw accounts, with no overnight interest charged on positions. However, FxPro may charge a small admin fee for long-term positions on certain instruments. IC Markets does not charge any extra fees for swap-free accounts. Both brokers comply with Sharia law, making them suitable for Muslim traders in Australia.

IC Markets offers 24/7 customer support via live chat, email, and phone, with a dedicated Australia team available during AEST hours. FxPro also provides 24/5 support with live chat and phone, but its Australian office hours are limited. Both brokers have extensive FAQ sections and account management for VIP clients. For Australia traders needing after-hours support, IC Markets has an edge due to its round-the-clock service.