IC Markets vs FxPro for Malaysia Traders (2026)
Which broker is better for Malaysia traders in 2026? Expert analysis across 12 categories.
Quick Verdict — Malaysia Traders
Malaysia traders looking for a reliable forex broker often compare IC Markets and FxPro, two globally recognized brands. IC Markets, founded in 2007 and regulated by ASIC and CySEC, is known for its ultra-low spreads and high-speed execution, making it a favorite among retail and high-volume traders in Malaysia. FxPro, established in 2006 and regulated by the FCA, CySEC, and FSCA, offers a more conservative trading environment with a strong reputation for safety. Both brokers support local payment methods popular in Malaysia, including Bank Transfer, Skrill, Neteller, and USDT, and provide Islamic accounts for Muslim traders. However, when it comes to cost, platform variety, and deposit flexibility, IC Markets generally outperforms FxPro for the average Malaysia retail trader. This comparison will help you decide which broker suits your trading style and local needs in 2026.
Overall Scores Comparison
Trading Costs - Spreads & Commissions
| Instrument | IC Markets | FxPro | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | FxPro |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | FxPro |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | FxPro |
| Standard acc spread | from 1.0 pips | from 0.8 pips | FxPro |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $200 | $100 | FxPro |
For Malaysia traders, trading costs are a critical factor. IC Markets offers a Raw Spread account with spreads from 0.0 pips and a commission of $3.50 per lot per side, resulting in total costs of around $7 per round turn on EUR/USD. FxPro’s Standard account has spreads from 0.6 pips with no commission, making its cost about $6 per lot on EUR/USD, but IC Markets becomes cheaper for scalpers and high-volume traders. FxPro’s Raw account has spreads from 0.0 pips but a higher commission of $4.50 per lot. Overall, IC Markets is more cost-effective for active Malaysia traders, especially those trading multiple lots daily.
Account Types Comparison
| Account Type | IC Markets | FxPro |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✓ | ✗ |
| Zero spread account | ✓ | ✓ |
| Copy trading | ✗ | ✗ |
| Min deposit | $200 | $100 |
Leverage Comparison - Malaysia Traders
| Entity / Asset | IC Markets | FxPro |
|---|---|---|
| Malaysia (offshore) | Up to 1:5000 | Up to 1:500 |
| Forex major pairs | 1:5000 | 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 |
Trading Instruments - Assets Available
| Asset Class | IC Markets | FxPro | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ | IC Markets |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | IC Markets |
| Crypto CFDs | 30+ | 20+ | IC Markets |
| Stocks / Share CFDs | ✗ | 1,700+ | FxPro |
| ETFs | ✗ | ✗ | Tie |
Platforms Comparison
| Platform | IC Markets | FxPro |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✓ |
| MetaTrader 5 (MT5) | ✓ | ✓ |
| cTrader | ✓ | ✓ |
| TradingView | ✗ | ✗ |
| Expert Advisors (EAs) | ✓ | ✓ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
Both brokers offer MetaTrader 4 and MetaTrader 5, the most popular platforms among Malaysia traders. IC Markets also provides cTrader, which is favored for its advanced charting and order management, especially by scalpers. FxPro offers its proprietary FxPro Edge platform and cTrader as well. For Malaysia traders who value customization and speed, IC Markets’ cTrader integration is a strong advantage. FxPro’s platforms are solid but less flexible. Mobile trading apps from both brokers are well-rated on Malaysian app stores, but IC Markets’ mobile cTrader app is more feature-rich.
Execution Quality - Speed & Slippage
| Factor | IC Markets | FxPro | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | FxPro |
| Avg execution speed | ~30ms | ~40ms | IC Markets |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✓ | Tie |
IC Markets is known for its superior execution speed, averaging under 40ms on its Raw Spread accounts, thanks to its Equinix NY4 data center and low-latency infrastructure. FxPro’s execution is also reliable, with speeds around 50-60ms, but not as fast as IC Markets. For Malaysia traders who scalp or use automated strategies, IC Markets’ faster execution reduces slippage and improves trade outcomes. Both brokers use No Dealing Desk (NDD) execution, but IC Markets’ technology edge is clear.
Regulation & Safety for Malaysia Traders
| Safety Factor | IC Markets | FxPro |
|---|---|---|
| Primary regulator | ASIC | FCA |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
IC Markets is regulated by ASIC (Australia) and CySEC (Cyprus), while FxPro is regulated by the FCA (UK), CySEC, and FSCA (South Africa). Neither broker is regulated by Malaysia’s local financial regulator (Bank Negara Malaysia or Securities Commission Malaysia). For Malaysia traders, this means no local investor protection, but both brokers offer negative balance protection and segregated accounts. FxPro’s FCA regulation provides a higher level of trust for risk-averse traders. IC Markets’ ASIC regulation is also strong but has faced recent changes. Malaysia traders should prioritize brokers with solid international regulation and good client reviews.
Deposits & Withdrawals for Malaysia
| Payment Method | IC Markets | FxPro |
|---|---|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| USDT / Crypto | ✓ | ✗ |
| Withdrawal time | E-wallets instant-24hrs; Cards 3-5 business days (up to 10); Int'l bank wire up to 14 days | 1 business day |
Malaysia traders can fund their accounts using Bank Transfer, Skrill, Neteller, and USDT at both IC Markets and FxPro. IC Markets also supports local bank transfers in MYR through third-party payment providers, making it easier to deposit without currency conversion fees. Minimum deposits are $200 for IC Markets and $100 for FxPro. Withdrawals are processed quickly: e-wallets (Skrill, Neteller) take 1-2 business days, while bank transfers take 3-5 days. USDT deposits are processed within minutes at both brokers. IC Markets has a slight edge due to its local MYR transfer option, which reduces costs for Malaysia traders. No deposit fees are charged by either broker, but bank intermediary fees may apply.
Islamic Accounts - Swap-Free for Malaysia Muslims
| Islamic Account Feature | IC Markets | FxPro |
|---|---|---|
| Swap-free available | ✓ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Both IC Markets and FxPro offer Islamic (swap-free) accounts for Malaysia Muslim traders, in compliance with Sharia law. IC Markets provides swap-free accounts on all account types (Standard, Raw, cTrader) without any additional fees or time limits. FxPro offers Islamic accounts on its Standard and Raw accounts but may charge a small administrative fee after holding positions for a certain period. For Malaysia traders who require long-term swap-free trading, IC Markets is more accommodating. Both brokers require a declaration of faith or a request to activate the Islamic account.
Customer Support Comparison
| Support Feature | IC Markets | FxPro | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | IC Markets |
IC Markets offers 24/7 customer support via live chat, email, and phone, with a dedicated team that responds quickly. FxPro provides 24/5 support during trading hours, with live chat and phone support in multiple languages. For Malaysia traders, IC Markets’ 24/7 availability is a major advantage, especially for overnight trading. Both brokers have English-speaking support, but IC Markets’ response times are generally faster.
Mobile App Comparison
| Mobile Feature | IC Markets | FxPro | Winner |
|---|---|---|---|
| iOS App Store rating | 4.5 stars | 4.3 stars | IC Markets |
| Google Play rating | 4.3 stars | 4.2 stars | IC Markets |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✗ | Tie |
Education & Research Tools
| Resource | IC Markets | FxPro | Winner |
|---|---|---|---|
| Video tutorials | 100+ videos | 50+ videos | Tie |
| Webinars (live) | ✗ | Monthly | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | IC Markets |
Real User Reviews - Trustpilot
Pros & Cons of Each Broker
IC Markets
FxPro
Who Should Use Which Broker? - Malaysia Guide
Choose IC Markets if you...
- Want the lowest spreads and commissions for high-volume trading
- Prefer cTrader for advanced charting and scalping
- Need 24/7 customer support and fast execution
- Want to deposit in MYR via local bank transfer or use USDT
Choose FxPro if you...
- Value FCA regulation and a longer track record
- Trade lower volumes and prefer no-commission accounts
- Want a simpler platform with fewer account types
- Are comfortable with higher spreads but lower minimum deposit
FAQ - IC Markets vs FxPro in Malaysia
Final Verdict - Malaysia 2026
For Malaysia retail traders in 2026, IC Markets is the stronger choice overall. Its lower spreads, faster execution, and support for local MYR bank transfers and USDT deposits make it more cost-effective and convenient. FxPro is a good alternative for risk-averse traders who prioritize regulatory safety (FCA) over cost. However, the lack of local financial regulator oversight means traders must rely on international protections. If you trade actively or use scalping strategies, IC Markets is clearly superior. Both brokers accept Bank Transfer, Skrill, Neteller, and USDT, but IC Markets’ local MYR deposit option gives it a practical edge for Malaysia traders. Ultimately, IC Markets offers better value for most retail traders in Malaysia.