IC Markets vs FP Markets for Saudi Arabia Traders (2026)

When it comes to trading costs, IC Markets has a slight edge for Saudi Arabia traders, especially for high-volume forex trading. IC Markets offers raw spreads from 0.0 pips on major pairs like EUR/USD with a commission of $3.5 per lot per side. FP Markets also offers raw spreads from 0.0 pips but charges a commission of $3 per lot per side on its Raw account, making it slightly cheaper per lot. However, IC Markets' standard account has no commission but spreads start from 0.6 pips, while FP Markets' standard account has spreads from 0.7 pips. For Saudi traders executing large volumes, IC Markets' raw account is more cost-effective, while FP Markets' raw account is better for smaller traders. Both brokers also offer competitive swap rates and no deposit fees.

Both IC Markets and FP Markets provide the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are widely used by Saudi Arabia traders for their advanced charting tools and automated trading capabilities. IC Markets also offers cTrader, a platform favored for its intuitive interface and advanced order management. FP Markets additionally provides the IRESS platform, which is popular among professional traders for its direct market access and depth of market data. For Saudi traders who prefer mobile trading, both brokers offer fully functional mobile apps. The choice depends on your preference: IC Markets is better for cTrader users, while FP Markets suits those needing IRESS.

IC Markets is renowned for its ultra-fast execution, with an average speed of 40ms, making it ideal for scalpers and algorithmic traders. FP Markets also offers excellent execution, averaging 50ms, which is still very competitive. Both brokers use Equinix NY4 and LD4 data centers for low-latency trading. For Saudi traders, the difference is marginal, but IC Markets has a slight edge for those executing high-frequency strategies. Both brokers offer no requotes and deep liquidity from top-tier banks.

IC Markets is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority (FSA) of Seychelles. FP Markets is regulated by ASIC, CySEC, and the Financial Sector Conduct Authority (FSCA) of South Africa. Neither broker is directly regulated by the local financial regulator in Saudi Arabia, which is the Capital Market Authority (CMA). However, both brokers accept Saudi clients and operate under international regulations that provide a high level of investor protection, including negative balance protection for retail clients. Saudi traders should be aware that they will not benefit from local dispute resolution mechanisms, but both brokers have strong reputations for client fund security. It is advisable to choose the entity regulated by ASIC or CySEC for higher protection.

Saudi Arabia traders can deposit and withdraw funds at both IC Markets and FP Markets using Bank Transfer, Skrill, Neteller, and USDT. Bank transfers are free but can take 1-3 business days for processing. Skrill and Neteller deposits are instant with fees typically under 1%, making them ideal for quick funding. USDT deposits are also supported, offering a low-cost and fast option for traders who prefer cryptocurrencies. Both brokers process withdrawals within 24 hours for e-wallets and 1-3 days for bank transfers. Minimum deposits are $200 for IC Markets and $100 for FP Markets, making FP Markets more accessible for beginners. Both brokers support USD accounts, which is convenient for Saudi traders as they avoid conversion fees. For large deposits, Bank Transfer is the most reliable, while Skrill and Neteller are best for small, frequent deposits.

Both IC Markets and FP Markets offer Islamic (swap-free) accounts for Saudi Arabia Muslim traders, ensuring compliance with Sharia law by eliminating interest charges on overnight positions. IC Markets provides Islamic accounts on all account types, including standard and raw, with no additional fees. FP Markets also offers Islamic accounts on its standard and raw accounts, but traders must request the conversion via support. Neither broker charges extra for maintaining an Islamic account, though FP Markets may apply a small administrative fee after a certain number of days. For Saudi traders seeking a fully compliant and cost-effective Islamic account, IC Markets is slightly more transparent, while FP Markets offers comparable conditions. Both brokers allow Muslim traders to trade without worrying about riba (interest).

IC Markets offers 24/7 customer support via live chat, email, and phone, with Arabic language support available. FP Markets also provides 24/7 support through live chat, email, and phone, but Arabic support is limited to business hours. Both brokers have extensive FAQ sections and educational resources. For Saudi traders who prefer Arabic assistance, IC Markets has a slight advantage with round-the-clock Arabic support. Response times are generally fast for both, with live chat queries answered within minutes.