IC Markets vs FxPro: Philippines Trader Guide 2026
Which broker is better for Philippines traders in 2026? Expert analysis across 12 categories.
Quick Verdict — Philippines Traders
For Philippines traders looking to enter the global forex market, choosing between IC Markets and FxPro is a critical decision. Both brokers are well-established, but they cater to different trading styles and priorities. IC Markets, with a score of 4.8/5, is renowned for its ultra-low spreads, high execution speeds, and extensive platform support—ideal for active retail traders in the Philippines who trade frequently. FxPro, scoring 4.1/5, emphasizes regulatory safety with multiple tier-1 licenses and a user-friendly interface, making it suitable for traders who prioritize security over cost. The Philippines trading environment is characterized by a growing interest in forex, with local traders often using Bank Transfer, Skrill, Neteller, or USDT for deposits. Both brokers accept these methods, ensuring convenient access. This comparison will help you decide which broker aligns with your trading goals, whether you seek low costs or robust regulation.
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 |
When comparing trading costs for Philippines traders, IC Markets has a clear edge. Its Raw Spread account offers spreads from 0.0 pips with a $3.50 commission per lot, while the Standard account has spreads from 1.0 pips with no commission. For a typical Philippines trader trading 10 lots of EUR/USD per month, IC Markets costs around $35 in commissions, significantly lower than FxPro's Zero account, which has spreads from 0.6 pips with a $6 commission per lot. FxPro's Standard account has spreads from 1.2 pips with no commission, making it more expensive for high-volume traders. The cost difference is especially impactful for scalpers and day traders in the Philippines who rely on tight spreads to maximize profits.
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 - Philippines Traders
| Entity / Asset | IC Markets | FxPro |
|---|---|---|
| Philippines (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 | ✓ | ✓ |
IC Markets offers a broader range of platforms tailored to Philippines traders, including MetaTrader 4, MetaTrader 5, cTrader, and WebTrader. This variety supports different trading styles, from automated trading with Expert Advisors to manual trading with advanced charting. FxPro provides MetaTrader 4, MetaTrader 5, and its proprietary FxPro Edge platform, which is user-friendly but less customizable. For Philippines traders who value flexibility and speed, IC Markets' cTrader is a standout for its advanced order types and depth of market. Both brokers offer mobile apps for trading on the go, but IC Markets' platform selection is more comprehensive for serious retail traders.
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 |
Execution quality is a major differentiator for active traders. IC Markets uses Equinix NY4 data centers and offers raw spreads with execution speeds under 40 milliseconds, ideal for scalping and high-frequency trading. FxPro executes trades through its own liquidity pool, with speeds around 50-100 milliseconds. Both brokers offer No Dealing Desk (NDD) execution, but IC Markets' lower latency and tighter spreads provide a clear advantage for Philippines traders who prioritize speed and minimal slippage.
Regulation & Safety for Philippines Traders
| Safety Factor | IC Markets | FxPro |
|---|---|---|
| Primary regulator | ASIC | FCA |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
Regulation is a key consideration for Philippines traders. FxPro is regulated by top-tier authorities including the UK's FCA, Cyprus' CySEC, and South Africa's FSCA, providing a high level of client fund protection through segregation and compensation schemes. IC Markets is regulated by ASIC in Australia and CySEC, but lacks FCA oversight. While both brokers are not directly regulated by the Philippines' Securities and Exchange Commission, FxPro's multiple licenses offer an extra layer of security. For Philippines traders who prioritize regulatory safety, FxPro's stricter oversight may be more reassuring, especially for larger account balances.
Deposits & Withdrawals for Philippines
| 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 |
Both IC Markets and FxPro support the payment methods most commonly used by Philippines traders: Bank Transfer, Skrill, Neteller, and USDT. IC Markets processes Skrill and Neteller deposits instantly and charges no fees, while bank transfers take 1-3 business days and may incur intermediary fees. USDT deposits are available via third-party processors, with processing times of 1-24 hours. FxPro offers similar options, with minimum deposits of $100 for Skrill and Neteller, and $500 for bank transfers. Withdrawals are typically processed within 24 hours for e-wallets and 2-5 days for bank transfers. IC Markets has a slight edge with lower minimum deposits ($200) and faster USDT processing. Philippines traders should note that bank transfers may be subject to local bank fees.
Islamic Accounts - Swap-Free for Philippines 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 |
For Muslim traders in the Philippines, both IC Markets and FxPro offer Islamic (swap-free) accounts that comply with Sharia law. These accounts do not charge or pay swap fees on positions held overnight, making them suitable for long-term traders. IC Markets provides Islamic accounts on all account types, while FxPro offers them on request. Traders must declare their Muslim faith during registration. Both brokers process Islamic accounts without additional fees, but IC Markets' lower spreads make it more cost-effective for active Islamic traders. It's important to note that some brokers may limit trading strategies on Islamic accounts, so review terms carefully.
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 |
Customer support is crucial for Philippines traders, especially when dealing with time zone differences. IC Markets offers 24/7 live chat, email, and phone support in English, with response times under 5 minutes for live chat. FxPro also provides 24/5 support via live chat, phone, and email, with slightly longer response times. IC Markets' 24/7 availability is an advantage for Philippines traders who trade during non-standard hours. Both brokers have comprehensive FAQ sections, but IC Markets' support is more responsive and multilingual.
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? - Philippines Guide
Choose IC Markets if you...
- Are a high-volume scalper or day trader needing ultra-low spreads and fast execution.
- Prefer a wide range of platforms, including cTrader and MetaTrader 5.
- Want to trade with lower costs, especially on major forex pairs like EUR/USD.
- Value 24/7 customer support and instant e-wallet deposits.
Choose FxPro if you...
- Prioritize regulatory safety with multiple tier-1 licenses like FCA and CySEC.
- Are a beginner trader looking for a user-friendly platform and educational resources.
- Prefer a broker with a longer track record and strong reputation in Europe.
- Trade less frequently and value security over cost efficiency.
FAQ - IC Markets vs FxPro in Philippines
Final Verdict - Philippines 2026
For Philippines traders, IC Markets is the better choice overall, with a higher score of 4.8/5 compared to FxPro's 4.1/5. Its lower spreads, faster execution, and broader platform support make it ideal for active retail traders who want to maximize profitability. The ability to deposit via Bank Transfer, Skrill, Neteller, and USDT ensures convenient access for local traders. While FxPro offers stronger regulatory oversight from the FCA and CySEC, which may appeal to risk-averse traders, IC Markets' cost advantages and 24/7 support are more compelling for most Filipino traders. Ultimately, IC Markets is recommended for those focused on trading performance, while FxPro is suitable for those prioritizing regulatory safety. Both brokers are compatible with the Philippines' local financial regulator requirements.