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

IC Markets clearly leads on trading costs for New Zealand traders. Its Raw Spread account offers spreads from 0.0 pips with a $3.50 commission per lot, making it ideal for high-volume scalpers. FxPro’s standard spreads start at 0.6 pips on its cTrader platform and are higher on MT4/MT5. For a New Zealand trader executing 10 lots per month, IC Markets could save hundreds of dollars in spreads. Additionally, IC Markets’ low-cost structure benefits traders focusing on NZD/USD and AUD/NZD pairs, which are popular locally.

Both brokers support MetaTrader 4 and MetaTrader 5, the platforms most New Zealand traders prefer. IC Markets also offers cTrader, which is excellent for ECN-style trading with advanced charting. FxPro provides its proprietary FxPro Edge platform, plus cTrader, giving traders more choice. For New Zealanders trading during Asian hours, IC Markets’ faster execution on MT4/MT5 can be a decisive advantage, while FxPro’s platform diversity appeals to those who want to test different tools.

IC Markets uses Equinix NY4 data centers for ultra-low latency execution, ideal for New Zealand scalpers and high-frequency traders. FxPro offers No Dealing Desk (NDD) execution but with slightly higher latency. IC Markets’ average execution speed is under 40ms, while FxPro’s is around 60ms. For New Zealand traders relying on quick fills during volatile sessions, IC Markets provides a clear edge.

IC Markets is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), while FxPro is regulated by the Financial Conduct Authority (FCA) in the UK and CySEC. Both brokers comply with New Zealand's financial regulations and accept Kiwi clients. For New Zealand traders, FxPro’s FCA regulation offers slightly stronger investor protection under UK rules, but IC Markets’ ASIC oversight also provides robust safeguards. Neither broker is directly regulated by the local financial regulator in New Zealand, but both operate legally under international licenses.

New Zealand traders can fund their accounts at both brokers using Bank Transfer, Skrill, Neteller, and USDT. IC Markets processes Skrill and Neteller deposits instantly, with no fees for most methods. Bank transfers typically take 1-3 business days. FxPro also supports these methods, with similar processing times. USDT deposits are available at both, allowing crypto-savvy traders to fund quickly. Withdrawals at IC Markets are processed within 24 hours for e-wallets, while FxPro takes 1-2 business days. Both brokers do not charge deposit fees for these methods, making them cost-effective for New Zealand traders.

Both IC Markets and FxPro offer Islamic (swap-free) accounts for New Zealand Muslim traders. IC Markets provides swap-free accounts upon request, applicable to all account types, but they may charge a small administrative fee after a holding period. FxPro offers Islamic accounts automatically for eligible clients, with no swap fees on positions held overnight. FxPro’s process is slightly more straightforward, but IC Markets’ raw spreads can still be attractive for swap-free traders. Both brokers comply with Sharia law, ensuring interest-free trading.

IC Markets offers 24/7 customer support via live chat, email, and phone, which is beneficial for New Zealand traders in different time zones. FxPro provides similar support but with slightly slower response times during weekends. IC Markets’ support team is known for quick resolution of technical issues, while FxPro excels in multilingual support. For Kiwi traders, IC Markets’ round-the-clock availability is a key advantage.