FP Markets vs IG Markets 2026

FP Markets is an ECN broker with raw spreads plus commission; IG builds costs into a wider spread with no separate forex commission. Our 30-day recording captured quotes at three fixed windows daily. FP Markets Raw averaged 0.12 pips on EUR/USD versus IG’s 0.86 pips — and FP posted the single fastest average execution we’ve recorded, 29ms.

On a 1-lot EUR/USD round trip, FP’s all-in cost is roughly A$8.10 versus about A$15 at IG. For active forex traders, FP is far cheaper. IG’s pricing is built around indices and shares, not rock-bottom forex spreads.

Both offer real shares, but differently. FP’s IRESS platform gives true DMA to 10,000+ ASX and global shares — powerful for active share traders, but it carries a monthly platform fee (around A$55) unless you hit volume thresholds. IG offers zero-commission US and UK shares with no platform or custody fee — simpler and cheaper for buy-and-hold investors. Which wins depends on whether you trade shares actively (FP IRESS) or hold them (IG).

For forex, FP is far cheaper and faster. For accessible share investing and indices, IG is better value. Verify current spreads, commission and IRESS platform fees directly with each broker before opening an account.

FP offers MT4, MT5, cTrader, TradingView and the IRESS platform — the latter giving Australian traders genuine DMA to 10,000+ ASX and global shares. Add free VPS, and FP is one of the most complete platform line-ups for cost-sensitive forex traders who also want real share DMA. IG offers neither MT5 nor cTrader.

IG counters with its own platform, ProRealTime charting, the L2 Dealer DMA platform, MT4, TradingView and API across 18,000+ markets, plus zero-commission US and UK share investing with no platform fee. For buy-and-hold investors and multi-asset traders who want the widest range without a separate platform fee, IG’s suite is broader and cheaper to access.

Both brokers are ASIC-regulated — the baseline we insist on for any broker listed on KolaTrading. Both keep client funds segregated and provide negative balance protection for Australian retail clients. The ASIC protection is identical at both.

For an Australian retail trader, both deliver identical ASIC protections — verify both AFSLs on the ASIC Connect register at any time. IG has the broader footprint (six tier-1 licences), a FTSE 100 listing and a 50-year history; FP Markets holds five licences and has built a strong reputation since 2005, especially for its IRESS share access. Both are safe; IG has more pedigree on paper.

We processed real AUD bank withdrawals at both brokers in March 2026 — FP funds arrived in one business day, IG in one to two, neither with a fee. Both support AUD accounts and BPAY. The practical edge goes to IG for its A$0 minimum versus FP’s A$100, making IG marginally easier to start small.