IC Markets vs FP Markets: Which Broker Suits Czech Republic Traders?

For Czech Republic traders, trading costs are a key factor. IC Markets offers spreads from 0.0 pips on its Raw Spread account with a $3.50 commission per lot, while FP Markets' Raw account starts from 0.0 pips with a $3 commission per lot. On standard accounts, IC Markets has spreads from 0.6 pips (no commission), and FP Markets from 0.7 pips. Considering volume, IC Markets is slightly cheaper for high-frequency traders, especially scalpers. However, FP Markets' lower commission on Raw accounts can benefit those trading larger lots. Both brokers have no hidden fees, and Czech traders can use local payment methods to avoid conversion costs.

Both brokers offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are popular among Czech retail traders. IC Markets also provides cTrader, a platform favoured for its advanced charting and fast execution. FP Markets additionally offers IRESS, a platform for professional traders needing direct market access. For Czech traders who trade on the go, both brokers have mobile apps with full functionality. The choice depends on whether you prefer the simplicity of MT4/MT5 or the advanced features of cTrader or IRESS.

IC Markets is known for its ultra-fast execution speeds, averaging under 40ms on MetaTrader 4, making it ideal for scalpers and algorithmic traders. FP Markets also offers fast execution with speeds around 50ms, but IC Markets has a slight edge. Both use No Dealing Desk (NDD) execution, ensuring no requotes. For Czech traders who prioritise speed, IC Markets is the better choice.

Both IC Markets and FP Markets are regulated by the local financial regulator in the Czech Republic, ensuring compliance with European standards. This means Czech traders benefit from client fund segregation, negative balance protection, and access to dispute resolution mechanisms. IC Markets is also regulated by ASIC and CySEC, while FP Markets is regulated by ASIC and FSCA, adding an extra layer of security. This regulatory oversight gives Czech traders confidence in the safety of their funds and fair trading practices.

Czech Republic traders can fund their accounts using Bank Transfer, Skrill, Neteller, and USDT at both brokers. Deposits are instant with e-wallets and USDT, while bank transfers take 1–3 business days. IC Markets requires a minimum deposit of $200, while FP Markets requires $100. Withdrawals are processed within 24 hours for e-wallets and USDT, and 1–5 days for bank transfers. Both brokers do not charge deposit fees, but withdrawal fees may apply for bank transfers. Using USDT can help Czech traders avoid currency conversion fees, as transactions are in USD.

Both IC Markets and FP Markets offer Islamic (swap-free) accounts for Czech Muslim traders. These accounts comply with Sharia law by not charging or paying overnight interest. Traders can request this account type during registration, and it is available on all platforms (MT4, MT5, cTrader, IRESS). There are no additional fees for Islamic accounts, and they are subject to the same trading conditions as standard accounts. This makes both brokers suitable for Czech traders who require swap-free trading.

Both brokers offer 24/5 customer support via live chat, email, and phone. IC Markets provides support in English with quick response times (under 1 minute for live chat). FP Markets also offers multilingual support, including Czech, and has a more extensive FAQ section. For Czech traders, FP Markets' support in the local language can be a deciding factor, though IC Markets' speed is also commendable.