Quick Verdict — Singapore Traders
Best Overall
IC Markets
Higher overall score & more features
Best Spreads
FxPro
Lower trading costs for scalpers
Islamic Accounts
Both Available
Swap-free for Singapore Muslims
Best for Beginners
IC Markets
Better education & support
1:5000 vs 1:500
Max leverage
Head-to-head comparison
Singapore traders looking for a reliable forex broker often compare IC Markets vs FxPro. Both are globally recognised, but they cater to slightly different needs. IC Markets, with a 4.8/5 rating, is known for ultra-tight spreads, fast execution, and a wide range of deposit methods including USDT. FxPro, rated 4.1/5, offers a more regulated environment with licences from the FCA and CySEC, appealing to traders who prioritise security. In Singapore, where traders value low costs and fast deposits, IC Markets often takes the lead. However, FxPro’s user-friendly platforms and strong customer support make it a solid alternative. This comparison covers spreads, regulation, deposits, and more to help you choose the best broker for your trading style in 2026.
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Overall Scores Comparison
IC Markets
ASIC · CySEC · FSA
3.6
CompareBroker score
Winner
VS
FxPro
FCA · CySEC · FSCA
3.1
CompareBroker score
Trading Costs
Spreads, commissions
Platforms
MT4, MT5, cTrader, TV
Regulation
Safety, oversight
Customer Support
24/5, chat, phone
Education
Webinars, guides
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Trading Costs - Spreads & Commissions
| Instrument | IC Markets | FxPro | Winner |
|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | FxPro |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | FxPro |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | FxPro |
| Standard acc spread | from 1.0 pips | from 0.8 pips | FxPro |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $200 | $100 | FxPro |
For Singapore traders, trading costs are a key factor. IC Markets offers spreads from 0.0 pips on its Raw Spread account with a $3.5 commission per lot. FxPro’s spreads start from 0.6 pips on its cTrader platform with a $4.5 commission. Over 100 trades per month, IC Markets can save you up to $200 in costs. Volume traders will find IC Markets more economical, while occasional traders may not notice the difference.
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Account Types Comparison
| Account Type | IC Markets | FxPro |
|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✓ | ✗ |
| Zero spread account | ✓ | ✓ |
| Copy trading | ✗ | ✗ |
| Min deposit | $200 | $100 |
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Leverage Comparison - Singapore Traders
| Entity / Asset | IC Markets | FxPro |
|---|
| Singapore (offshore) | Up to 1:5000 | Up to 1:500 |
| Forex major pairs | 1:5000 | 1:500 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
Leverage Warning for Singapore Traders
Traders in Singapore typically open accounts under offshore entities with up to 1:500 leverage. High leverage significantly increases risk.
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Trading Instruments - Assets Available
| Asset Class | IC Markets | FxPro | Winner |
|---|
| Forex pairs | 90+ | 65+ | IC Markets |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | IC Markets |
| Crypto CFDs | 30+ | 20+ | IC Markets |
| Stocks / Share CFDs | ✗ | 1,700+ | FxPro |
| ETFs | ✗ | ✗ | Tie |
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Execution Quality - Speed & Slippage
| Factor | IC Markets | FxPro | Winner |
|---|
| Execution model | ECN/STP | True ECN | FxPro |
| Avg execution speed | ~30ms | ~40ms | IC Markets |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✓ | Tie |
IC Markets uses Equinix NY4 servers for ultra-low latency execution, ideal for scalpers and high-frequency traders. FxPro offers No Dealing Desk (NDD) execution with no re-quotes, but its average execution speed is slightly slower. For Singapore traders who require fast order fills, IC Markets has the edge.
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Regulation & Safety for Singapore Traders
| Safety Factor | IC Markets | FxPro |
|---|
| Primary regulator | ASIC | FCA |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
IC Markets Global is not
FCA-authorised — the FCA has issued a public warning about this entity, and its clients do not have FOS or FSCS protection; verify the specific entity and licence before depositing. Neither is directly under
MAS, but both comply with international standards. , FSCS for
FxPro’s UK clients).
Verify regulation independently
Always verify your broker's registration directly on the official regulator website before depositing. Regulation details for Singapore traders may differ by entity.
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Deposits & Withdrawals for Singapore
| Payment Method | IC Markets | FxPro |
|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| USDT / Crypto | ✓ | ✗ |
| Withdrawal time | E-wallets instant-24hrs; Cards 3-5 business days (up to 10); Int'l bank wire up to 14 days | 1 business day |
Singapore traders can deposit using Bank Transfer, Skrill, Neteller, and USDT with both brokers. IC Markets processes Skrill and Neteller deposits instantly with no fees, and USDT deposits are also instant. FxPro supports these methods but may charge a small fee for Skrill/Neteller withdrawals. Bank transfers at IC Markets take 1-2 days, while FxPro takes 2-5 days. Withdrawals are free at IC Markets, but FxPro charges $10 for bank wire. USDT deposits are especially popular in Singapore for speed and low cost.
☪️
Islamic Accounts - Swap-Free for Singapore Muslims
| Islamic Account Feature | IC Markets | FxPro |
|---|
| Swap-free available | ✓ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Both brokers offer swap-free Islamic accounts for Singapore Muslim traders. IC Markets provides them automatically on all account types without extra fees. FxPro requires a request and may apply a small charge if positions are held beyond 10 days. IC Markets’ policy is more straightforward, making it the preferred choice for long-term Muslim traders in Singapore.
Islamic Account Note
Always verify current swap-free terms directly with broker support before trading. Admin fees or holding period restrictions may apply.
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Customer Support Comparison
| Support Feature | IC Markets | FxPro | Winner |
|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | IC Markets |
IC Markets offers 24/7 live chat and email support with fast responses, while FxPro provides phone support during market hours and 24/5 live chat. For Singapore traders in the GMT+8 time zone, IC Markets’ 24/7 support is more convenient. Both offer multilingual support including English and Chinese.
| Mobile Feature | IC Markets | FxPro | Winner |
|---|
| iOS App Store rating | 4.5 stars | 4.3 stars | IC Markets |
| Google Play rating | 4.3 stars | 4.2 stars | IC Markets |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✗ | Tie |
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Education & Research Tools
| Resource | IC Markets | FxPro | Winner |
|---|
| Video tutorials | 100+ videos | 50+ videos | Tie |
| Webinars (live) | ✗ | Monthly | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | IC Markets |
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Real User Reviews - Trustpilot
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Pros & Cons of Each Broker
IC Markets
Pros
+Top-tier regulated
+Islamic swap-free account
Cons
-No TradingView
-$200 min deposit
-No 24/7 support
FxPro
Pros
+Top-tier regulated
+Islamic swap-free account
Cons
-No TradingView
-No 24/7 support
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Who Should Use Which Broker? - Singapore Guide
Choose IC Markets if you...
- Want ultra-tight spreads from 0.0 pips
- Trade high volumes and need fast execution
- Prefer instant deposits via Skrill, Neteller, or USDT
- Use automated trading systems or scalping strategies
Choose FxPro if you...
- Value FCA regulation for extra security
- Are a beginner looking for a simple platform
- Prefer phone support and a more traditional broker
- Trade occasionally and don’t need the lowest spreads
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FAQ - IC Markets vs FxPro in Singapore
Is IC Markets or FxPro better for Singapore?
+Can Singapore traders use both brokers legally?
+Which broker has lower spreads for Singapore traders?
+How do Singapore traders deposit at IC Markets and FxPro?
+Do both brokers offer Islamic accounts for Singapore?
+Final Verdict - Singapore 2026
IC Markets wins overall
For Singapore traders in 2026, IC Markets is the stronger choice overall, scoring 4.8/5 vs FxPro’s 4.1/5. Its lower spreads, faster execution, and flexible deposits (including USDT) align perfectly with local trading habits. FxPro remains a solid option for those who prioritise FCA regulation and a simpler trading experience. If you trade actively or use EAs, IC Markets is the better pick. For beginners or safety-focused traders, FxPro is still a reliable broker. Consider your trading volume and deposit preferences when deciding.
Risk Disclaimer: CFDs and forex trading involve significant risk of loss. Between 74-89% of retail investor accounts lose money when trading CFDs. All data verified as of October 2026.
