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FBS vs IC Markets: Comparison and Analysis

Written by Filippo Ucchino Fact-Checked by Luca Puddu Publication Date Last Updated
Our verdict · CFD/FX trading

IC Markets has a clear advantage over FBS for CFD trading, thanks to a lower EUR/USD cost (7.80 USD per lot against 11.00 USD), MetaTrader 4, cTrader, TradingView, ETFs among its markets, high-frequency trading strategies and API access. FBS, on the other hand, has faster execution (10 ms against 66 ms). FBS is regulated by CySEC and ASIC, with an offshore company regulated by the FSC (Belize), while IC Markets is regulated by CySEC and ASIC, with an offshore company regulated by the FSA (Seychelles). Both brokers allow scalping, hedging, expert advisors and VPS, and both offer a demo account. FBS asks for 112.00 USD at its European company, 35.00 USD at its Australian company and 5.00 USD at its offshore company, while IC Markets asks for 224.00 USD at its European company, 200.00 USD at its Australian company and no minimum deposit at its offshore company. FBS offers crypto CFDs at its Australian and offshore companies, while IC Markets offers them at all its companies.

FBS

CFDCFD FBS offers CFD trading: leveraged contracts that follow the price of an asset without owning it. Switch the comparison to CFD/FX to rate it on that. FXFX FBS offers forex trading: currency pairs such as EUR/USD, traded with leverage. Forex is rated together with CFDs, on the CFD/FX side.
FBS review ›
75CFD/FXOverall score FBS scores 75/100 for CFD/FX trading. The overall score is calculated from the data in this comparison across 12 areas.
Open Account

66.43% of retail investor accounts lose money when trading CFDs with this provider.

Best overall

IC Markets

CFDCFD IC Markets offers CFD trading: leveraged contracts that follow the price of an asset without owning it. Switch the comparison to CFD/FX to rate it on that. FXFX IC Markets offers forex trading: currency pairs such as EUR/USD, traded with leverage. Forex is rated together with CFDs, on the CFD/FX side.
IC Markets review ›
87CFD/FXOverall score IC Markets scores 87/100 for CFD/FX trading. The overall score is calculated from the data in this comparison across 12 areas.
Open Account

72.52% of retail investor accounts lose money when trading CFDs with this provider.

Best for

What we compare A comparison of the kinds of traders FBS and IC Markets are best suited to, based on what each one actually offers in .
1 / 12

IC Markets is better than FBS for professional traders, swing traders and crypto traders. Scalpers, news traders and algo traders can choose either IC Markets or FBS.

Best for
Overall score FBS 75 -12 IC Markets 87 Best
Day trading i
Long-term investing i
Professional traders i
High-volume traders i
Scalpers i
Swing traders i
News traders i
Algo traders i
Stock traders i
Crypto traders i
Futures traders i
Options traders i

Regulation

What we compare A comparison between the financial authorities that supervise FBS and the ones that supervise IC Markets.
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FBS and IC Markets are both regulated by top-tier authorities, including CySEC and ASIC (Australia).

Regulation
Section score FBS 100 IC Markets 100
Tier-1 regulators
ESMA (European Union) i CySEC (Cyprus) CySEC (Cyprus)
FCA (United Kingdom) i
ASIC (Australia) i
CFTC (United States) i
NFA (United States) i
SEC (United States) i
CIRO (Canada) i
MAS (Singapore) i
SFC (Hong Kong) i
JFSA (Japan) i
FINMA (Switzerland) i
Tier-2 regulators
FMA (New Zealand) i
CBR (Russia) i
FSCA (South Africa) i
DFSA (Dubai) i
CSRC (China) i
ISA (Israel) i
LFSA (Malaysia) i
JSC (Jordan) i
CMA (Kenya) i
Tier-3 regulators
FSA (Seychelles) i
MMA (Maldives) i
SCB (Bahamas) i
FSC (Mauritius) i
VFSC (Vanuatu) i
FSC (Belize) i
CIMA (Cayman Islands) i
SV FSA (Saint Vincent and the Grenadines) i
FSRC (St. Kitts & Nevis) i
BMA (Bermuda) i
BVI FSC (British Virgin Islands) i
EDR (External Dispute Resolution) i

Safety

What we compare A comparison of the tools and services that FBS and IC Markets have in place to protect your money in .
3 / 12

FBS and IC Markets both offer segregated client funds and an investor compensation scheme.

Safety
Section score FBS 78 IC Markets 78
Company info
Is it publicly traded i
Is it a bank i
Year founded i 2009 2007
Parent company i FBS Markets Inc International Capital Markets Pty Ltd
CEO i Christos Kakourides Andrew Budzinski
Money safety
Segregated client funds i
Two-factor authentication i
Investor compensation scheme i
Additional money insurance i
Partner bank i N/A Eurobank
Brand power
Number of customers worldwide i 27,000,000
Annual revenue i
Monthly website search traffic i 2.2M monthly visits

Costs

What we compare A comparison of what it costs to trade with FBS and with IC Markets in , both on each trade and on holding the account.
4 / 12

IC Markets is better than FBS for costs, given that IC Markets is cheaper on EUR/USD, at 7.8 USD per lot (against FBS's 11 USD), has tighter S&P 500 CFD spreads, at 0.36 points (against FBS's 0.57 points), and has tighter gold CFD spreads, at 0.08 points (against FBS's 0.36 points). Neither FBS nor IC Markets charges account maintenance fees or deposit fees.

Costs
Section score FBS 49 -16 IC Markets 65 Best
Broker fees
Deposit fees i
Withdrawal fees i
Overnight fees i
Inactivity fees i
Currency conversion fees i
Discounts on volume i
Real time market data fee i
Dividend withholding i
Account opening fees i
Account maintenance fee i
Portfolio management fee i
Fees on CFDs
Forex commission per lot i FreeAbout this value. This is the forex commission per lot at Tradestone Limited (CySEC). At FBS's other companies: Free (other accepted countries), USD 6 (Australia). USD 7
EUR/USD average standard spread i
1.1 pips
0.8 pips
EUR/USD average raw spread i
0.06 pips
EUR/USD average fixed spread i
EUR/USD total cost per lot i USD 11 USD 7.8
S&P 500 fees (CFD) i 0.57 points 0.36 points
Gold fees (CFD) i 0.36 points 0.08 points
Bitcoin fees (CFD) i USD 6.46
US stocks fees (CFD) i USD 14 USD 0.02
Fees on stocks
Stock fee type i Percentage, Spread Commission, Percentage
US stocks fees (real) i
ETF fees (real) i
Management costs i
Connection costs i
Fees on futures
Futures fees per contract i Free
Platform fees i
Fees on options
Options fees per contract i
Event fees i
Fees on savings plans
IRA opening fee i
IRA maintenance fee i
401k opening fee i
401k maintenance fee i

Available markets

What we compare A comparison of the markets and products you can trade with FBS and with IC Markets in , and of how many instruments each one gives access to.
5 / 12

IC Markets is better than FBS for available markets, because IC Markets offers CFDs on crypto and ETFs, which FBS does not, and gives access to 2,850 tradable symbols (against FBS's 550). Both FBS and IC Markets offer CFDs on commodities, forex, indices and stocks.

Available markets
Section score FBS 65 -10 IC Markets 75 Best
Total tradable symbols i 550 2,850
Currency pairs i
Indices i
Commodities i
Stocks i
ETF i
Cryptocurrencies i
Bonds i
Interest rates i
Portfolios i
CFDs i Commodities, Forex, Indices, Stocks Commodities, Crypto, ETF, Forex, Indices, Stocks
Futures i
Options i
Assets you can own i

Platform

What we compare A comparison of the trading platforms that FBS and IC Markets make available to their clients in .
6 / 12

IC Markets is better than FBS for platforms, because IC Markets offers cTrader, MetaTrader 4 and social trading, which FBS does not. Both FBS and IC Markets offer MetaTrader 5 and one-click trading.

Platform
Section score FBS 57 -32 IC Markets 89 Best
Proprietary platform i
MetaTrader 4 i
MetaTrader 5 i
cTrader i
Social trading platform i
Copy trading platform i
ZuluTrade i
TradingView i
Duplitrade i
Mirror Trader i
NinjaTrader i
AutoChartist i
Real time pricing i
5 digit pricing i
One-click trading i

Mobile

What we compare A comparison of the mobile apps of FBS and IC Markets in , and of what each one lets you do from your phone.
7 / 12

There is little between FBS and IC Markets on mobile trading, as both offer a proprietary mobile app and the MetaTrader 5 app. IC Markets goes a step further, as it offers the cTrader app and the MetaTrader 4 app.

Mobile
Section score FBS 93 IC Markets 93
Proprietary app i
Social trading app i
Copy trading app i
MetaTrader 4 app i
MetaTrader 5 app i
cTrader app i
Mobile trading signals i
Mobile alerts i
Mobile charting tools i
Mobile drawing tools i
Mobile watchlist i
Smartwatch app i

Trading features

What we compare A comparison of the trading tools and strategies that FBS and IC Markets allow on their platforms in .
8 / 12

IC Markets is better than FBS for trading features, as IC Markets offers trailing stops and API access, which FBS does not, and allows for high-frequency trading. FBS and IC Markets both offer negative balance protection and tier-1 liquidity providers.

Trading features
Section score FBS 69 -24 IC Markets 93 Best
Trade execution
Broker type i NDD NDD
Average execution time i 10 ms 66 ms
Slippage occurrence i
Requotes occurrence i 0%
Tier-1 liquidity providers i
PFOF i
Leverage
Major FX pairs leverage i 30:1About this value. This is the major fx pairs leverage at Tradestone Limited (CySEC). At FBS's other companies: 3000:1 (other accepted countries), 30:1 (Australia). 30:1About this value. This is the major fx pairs leverage at IC Markets (EU) Ltd (CySEC). At IC Markets' other companies: 30:1 (Australia), 5000:1 (other accepted countries).
Minor/Exotic FX pairs leverage i 20:1About this value. This is the minor/exotic fx pairs leverage at Tradestone Limited (CySEC). At FBS's other companies: 3000:1 (other accepted countries), 20:1 (Australia). 20:1About this value. This is the minor/exotic fx pairs leverage at IC Markets (EU) Ltd (CySEC). At IC Markets' other companies: 20:1 (Australia), 5000:1 (other accepted countries).
Major indices leverage i 20:1About this value. This is the major indices leverage at Tradestone Limited (CySEC). At FBS's other companies: 500:1 (other accepted countries), 20:1 (Australia). 20:1About this value. This is the major indices leverage at IC Markets (EU) Ltd (CySEC). At IC Markets' other companies: 20:1 (Australia), 200:1 (other accepted countries).
Minor indices leverage i 10:1About this value. This is the minor indices leverage at Tradestone Limited (CySEC). At FBS's other companies: 200:1 (other accepted countries), 10:1 (Australia). 10:1About this value. This is the minor indices leverage at IC Markets (EU) Ltd (CySEC). At IC Markets' other companies: 10:1 (Australia), 200:1 (other accepted countries).
Gold leverage i 20:1About this value. This is the gold leverage at Tradestone Limited (CySEC). At FBS's other companies: 500:1 (other accepted countries), 20:1 (Australia). 20:1About this value. This is the gold leverage at IC Markets (EU) Ltd (CySEC). At IC Markets' other companies: 20:1 (Australia), 2000:1 (other accepted countries).
Commodities leverage i 10:1About this value. This is the commodities leverage at Tradestone Limited (CySEC). At FBS's other companies: 500:1 (other accepted countries), 10:1 (Australia). 10:1About this value. This is the commodities leverage at IC Markets (EU) Ltd (CySEC). At IC Markets' other companies: 10:1 (Australia), 1000:1 (other accepted countries).
Equities leverage i 5:1About this value. This is the equities leverage at Tradestone Limited (CySEC). At FBS's other companies: 100:1 (other accepted countries), 5:1 (Australia). 5:1About this value. This is the equities leverage at IC Markets (EU) Ltd (CySEC). At IC Markets' other companies: 5:1 (Australia), 20:1 (other accepted countries).
Cryptocurrency leverage i 2:1About this value. This is the cryptocurrency leverage at Tradestone Limited (CySEC). At FBS's other companies: 500:1 (other accepted countries), 2:1 (Australia). 2:1About this value. This is the cryptocurrency leverage at IC Markets (EU) Ltd (CySEC). At IC Markets' other companies: 2:1 (Australia), 500:1 (other accepted countries).
Risk management
Stop losses i
Take profits i
Limit orders i
Trailing stop i
Margin call i
OCO orders i
Guaranteed stop loss i
Negative balance protection i
Minimum trade size (FX) i 0.01 lots 0.01 lots
Minimum trade size (stocks) i USD 0 USD 0
Fractional stocks i
Trading compliance
Scalping strategies allowed i
Hedging strategies allowed i
Automated trading strategy allowed i
EAs use allowed i
HFT strategy allowed i
VPS use allowed i
API use allowed i
Price scraping allowed i
FIFO rule applies i

Account types

What we compare A comparison of the kinds of account you can open at FBS and at IC Markets in , and of who each one is meant for.
9 / 12

IC Markets is better than FBS for account types, as IC Markets offers a professional traders account, a corporate account and a managed account, which FBS does not. Both FBS and IC Markets offer a demo account and a standard account.

Account types
Section score FBS 26 -53 IC Markets 79 Best
Demo account i
Unlimited demo account i
Standard account i
Micro account i
Cent account i
Nano account i
Raw spread account i
ECN account i
Swap-free account i
Islamic account i
Professional traders account i
Fixed spread account i
Spread betting account i
Copy trading account i
Corporate account i
Managed account i
Stock investing account i
Margin investing account i
Savings account i
Retirement account i

Account opening

What we compare A comparison of what it takes to open and fund an account with FBS and with IC Markets in .
10 / 12

IC Markets is better than FBS for account opening, given that IC Markets offers 10 account base currencies (against FBS's 2), and supports 3 e-wallets (against FBS's 2). However, the minimum deposit is lower at FBS, at 112 USD (against IC Markets' 224 USD).

Account opening
Section score FBS 70 -15 IC Markets 85 Best
Minimum deposit i USD 112About this value. This is the minimum deposit at Tradestone Limited (CySEC). At FBS's other companies: USD 5 (other accepted countries), USD 35 (Australia). USD 224About this value. This is the minimum deposit at IC Markets (EU) Ltd (CySEC). At IC Markets' other companies: USD 200 (Australia), USD 0 (other accepted countries).
Minimum withdrawal i USD 0 USD 0
Wire transfers i
Credit cards i
Debit cards i
eWallets i Neteller, Skrill PayPal, Neteller, Skrill
Local payment methods i
Account base currencies i EUR, USDAbout this value. This is the account base currencies at Tradestone Limited (CySEC). It is different at FBS's companies in Australia. AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USDAbout this value. This is the account base currencies at IC Markets (EU) Ltd (CySEC). It is different at IC Markets' companies in Australia.
Deposit waiting time i Instant Instant
Withdrawal waiting time i up to 1 business days up to 1 business days
Bonus program i

Customer care

What we compare A comparison of the customer support of FBS and IC Markets in , in how it can be reached and how fast it answers.
11 / 12

IC Markets is better than FBS for customer care, as IC Markets offers customer support in 17 languages (against FBS's 7), and has a website in 17 languages (against FBS's 15). Both FBS and IC Markets offer a dedicated account manager and phone support.

Customer care
Section score FBS 82 -5 IC Markets 87 Best
Number of languages supported i 15 17
Website languages i Arabic, German, English, French, Indonesian, Italian, Korean, Malay, Portuguese, Spanish, Thai, Turkish, Urdu, Vietnamese, Chinese Arabic, Bulgarian, Czech, German, English, French, Croatian, Indonesian, Italian, Korean, Malay, Portuguese, Russian, Spanish, Thai, Vietnamese, Chinese
Website available in English i
Customer support languages i Arabic, English, Indonesian, Malay, Spanish, Thai, Turkish Arabic, Bulgarian, Czech, German, English, French, Croatian, Indonesian, Italian, Korean, Malay, Portuguese, Russian, Spanish, Thai, Vietnamese, Chinese
Customer support in English i
Call back request i
Email support i
Phone support i
Live chat i
Priority customer support i
Dedicated account manager i
Cash sweep i
Stock lending i
Distributes proceeds i
Tax withholding agent i
Tax assistance i

Learning

What we compare A comparison of the educational material that FBS and IC Markets provide to their clients in .
12 / 12

IC Markets is better than FBS for learning, because IC Markets offers professional reports and traders' sentiment, which FBS does not. Both FBS and IC Markets offer education for advanced traders and webinars.

Learning
Section score FBS 83 -17 IC Markets 100 Best
Education
Education center i
Education for beginners i
Education for advanced traders i
Webinars i
Tutorials i
Glossary i
Research
Economic calendar i
Traders' sentiment i
Daily market commentary i
Daily trading ideas i
News via social media i
Professional reports i
Watchlist i
FBS
Open Account 66.43% of retail investor accounts lose money when trading CFDs with this provider.
IC Markets
Open Account 72.52% of retail investor accounts lose money when trading CFDs with this provider.
Our verdict

FBS vs IC Markets: which one should you choose?

FBS

CFD/FX Choose FBS if you want an online CFD broker with fast order execution.

Open Account 66.43% of retail investor accounts lose money when trading CFDs with this provider.
IC Markets

CFD/FX Choose IC Markets if you want a forex broker with low trading costs, cTrader and TradingView.

Open Account 72.52% of retail investor accounts lose money when trading CFDs with this provider.

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