Open FxPro

Home/vs IC Markets

Compare · AU · August 2026

FxPro vs IC Markets for Australia

Two active-trader brands. Different licence stories for AU residents.

Open FxPro vs Pepperstone

75%+ of retail investor accounts lose money trading CFDs.

Headline difference

IC Markets is a major Australian-origin CFD brand with ASIC licensing on its Australian entity path (confirm your agreement). FxPro is not AFSL-licensed and not ASIC-regulated; AU clients are commonly reported via FxPro UK Limited (FCA FRN 509956). AFCA does not apply on that FxPro path. August 2026.

IC Markets is often shortlisted for raw pricing and MetaTrader volume. FxPro differentiates with native cTrader alongside MT4/MT5. Measure spreads live. Check entity screens on both.

Licence column

If AFSL protections and AFCA access dominate your decision, the ASIC entity path at IC Markets (when that is the entity you actually sign) wins that column. Do not assume every IC Markets brand site globally is the Australian AFSL entity. Read the agreement.

FxPro's column is different by design. We refuse to invent an AFSL for FxPro. We refuse to invent AFCA coverage. Full legal notes: legal Australia.

Platform and cost column

Both brands compete for active traders. IC Markets is heavily associated with MetaTrader raw accounts. FxPro's native cTrader option matters if that UI is part of your edge. Cost is not a screenshot of one EURUSD quote at lunch. Measure round-turn on your symbols during your hours. See spreads and platforms.

Funding convenience can favour a local AFSL desk depending on rails shown to you. FxPro lists AUD as an account currency on the Gen-Info GM PDF; still verify live. Deposits: deposits.

When FxPro still wins a shortlist spot

Choose FxPro when its platform mix and verified account terms fit your workflow and you accept the FCA route. Choose IC Markets (ASIC entity) when local licence and AFCA access dominate. Neither guarantees profit. 75%+ retail CFD accounts lose money.

Also compare FxPro vs Pepperstone. Scalping notes: scalping. Review: FxPro review.

Open FxProvs Pepperstone

Operational comparison checklist

  1. Entity name on each agreement.
  2. Whether AFCA applies (FxPro FCA path: no).
  3. Platforms you actually need (cTrader vs MT-only habits).
  4. Live round-turn on your symbols.
  5. Deposit and withdrawal rails shown to your login.
  6. Wallet currency options, including AUD on FxPro where listed.

Print the list. Fill it with screenshots. Decide once. Switching brokers every drawdown is expensive tuition.

Scalping and index angle

If short holds dominate, compare fill behaviour and Raw+ style costs on both brands during your hours. See scalping. If ASX-related index CFDs dominate, confirm contract specs and financing on each side rather than assuming cash equity rules. Stock CFDs.

Partner CTA for FxPro only: Open FxPro. We do not host IC Markets affiliate links on this desk.

What "Australian broker" marketing hides

Brand origin stories do not equal the entity on your PDF. IC Markets has strong Australian roots and ASIC licensing on its Australian entity path. Confirm that is the entity you sign. FxPro's brand is international; AU clients are commonly reported on FxPro UK Limited (FCA FRN 509956). AFCA does not apply on that FxPro path. Saying both brands are "Aussie friendly" without those distinctions is marketing fog.

If you need AFCA, stop debating cTrader aesthetics and pick an AFSL path. If you need FxPro's stack, verify entity and proceed. Legal: legal Australia. Review: review.

Cost measurement protocol

Pick three symbols you actually trade. Record ten round-turns on each brand during the same session windows. Include commission. Include swap if you hold overnight. Ignore one-off "from 0.0" banners. Then decide with a spreadsheet, not a vibe.

AUD Wallet and funding friction still matter for total cost of ownership. FxPro lists AUD as an account currency on the Gen-Info GM PDF; verify live. Deposits: deposits. Partner: Open FxPro.

Withdrawal and funding friction

When costs look similar, funding friction decides. Screenshot both cashiers. Rehearse a micro deposit and micro withdrawal on the broker you choose. FxPro Wallet flow notes live on deposits and withdrawal. AUD is listed as an FxPro account currency on the Gen-Info GM PDF; verify live. Do not invent local bank brand ETAs.

Risk: 75%+ of retail investor accounts lose money trading CFDs. Partner: Open FxPro. Open path: open account. August 2026.

August 2026 line

FxPro: no AFSL, not ASIC-regulated, commonly reported FxPro UK Limited (FCA FRN 509956), AFCA does not apply. AUD wallets: verify live. Partner: Open FxPro.

Related guides