As a trader, you must strive to get maximum profit from each position。To achieve this, one of the most popular trading strategies is day trading, where positions are opened and closed on the same day.。Day trading provides traders with the opportunity to avoid the risks associated with longer positions, allowing them to obtain trading results in a shorter period of time。However, there are certain important factors that must be considered for successful execution of day trades。

One of the key factors is the right forex broker。Choosing the right forex broker can greatly help traders achieve their trading goals more efficiently and quickly。

FP Markets and IC Markets are two popular options for day trading。Both brokers offer excellent trading conditions that can help traders achieve their trading objectives, but this article will explore the two brokers in more depth and compare their main differences so you can decide which one is more suitable for your day trading needs。

Introduction to FP Markets

FP Markets is a highly respected established CFD and Forex broker that has been operating in the industry since 2005.。With headquarters in Australia, Cyprus and South Africa, the broker has a strong presence in the market.。Over the years, FP Markets has built a strong reputation for providing quality trading services to over 4 million traders worldwide.。

One of the key factors that differentiate FP Markets from other brokers is its compliance。The broker is regulated by ASIC (license number 286354), CySEC (license number 371 / 18) and FSCA (South Africa) (license number 50926) to ensure that the broker strictly adheres to industry standards and provides a safe and reliable trading environment for clients.。

FP Markets offers a wide range of trading products, including more than 10,000 CFDs with original spreads from 0.Start at 0: 00。The broker obtains raw pricing directly from top liquidity providers, giving clients access to large liquidity pools of regulated financial institutions.。The broker offers a diverse portfolio of liquidity and highly competitive pricing, making it an attractive option for traders of all levels。

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Overnight positions do not cause overnight / rollover fees to reduce your earnings, so you don't have to worry about。FP Markets offers the most competitive swap rates in the industry by introducing swap points in the form of real-time swap rate listings on the MT4 and MT5 platforms, as follows.

ACWI: Long Position -5.00, Short Positions -2.50。ADAUSD: Long Position -20..00, Short Positions -20.00。AGG: Long Position -5.00, Short Positions -2.50。

Introduction to IC Markets

IC Markets is an established broker that has provided Forex and CFD trading services to more than 4 million clients since 2007.。The broker has headquarters in several countries around the world, including Australia, Cyprus, Bahamas, China, Hong Kong, India, Indonesia, Russian Federation, Spain, Thailand, Turkey, United Arab Emirates and United Kingdom。With a global presence, IC Markets can serve traders around the world。

IC Markets is a licensed and regulated broker whose compliance is evident from the licenses it holds。The broker is subject to ASIC ACN 123 289 109, CySEC 362 / 18, SCB SIA-F214 and Financial Commission 25..11.2021 Regulation。These regulators ensure that brokers adhere to strict industry standards and provide a safe and transparent trading environment。

For algorithmic traders or scalpers, IC Markets is an excellent choice because it offers low transaction costs, high leverage, low latency connections and excellent liquidity。The broker also offers three copy trading services that facilitate social trading, while beginners benefit from a high-quality educational platform and 24 / 7 customer support.。

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IC Markets is a company in International Capital Markets Pty Ltd..Online Forex Brokerage Company operated under。Brokers under Australian jurisdiction offer trading services in IC Markets-AU, based in Australia and licensed by ASIC。

Non-Australian traders, on the other hand, are registered under the Seychelles-based IC Markets SEY and are regulated by the SFSA.。This dual operation is ASIC's new rule, which prohibits its regulated brokers from offering trading services outside Australia.。

IC Markets, known as ECN Broker, offers clients optional trading platforms such as MetaTrader 4, MetaTrader 5 and cTrader。The broker follows market trends and includes cryptocurrencies as one of its products, enriching its already wide selection of trading assets, including currencies, indices, metals, energy, software, stocks and bonds.。

IC Markets has a medium minimum deposit of $200 compared to other ASIC regulated brokers。Market analysis materials are also regularly published on the official website of IC Markets, demonstrating its ability to provide traders with specialized market expert content。

For payment methods, IC Markets allows financing and withdrawals via wire transfers, credit cards, PayPal, Skrill, Neteller, FasaPay, UnionPay, and BitPay's Bitcoin。It also supports multiple base currencies, including the US dollar, Australian dollar, euro, British pound, Singapore dollar, New Zealand dollar, Japanese yen, Swiss franc, Hong Kong dollar and Canadian dollar.。

Since IC Markets' trading technology is equipped with highly centralized servers and extremely low latency (especially on cTrader), the broker is widely known for its ability to host high-frequency trading and order brushing capabilities。

In summary, IC Markets is a well-regulated broker with flexible base currencies and payment methods, welcoming traders from outside the country.。By the end of 2019, IC Markets had 18 foreign language websites available, including English, Korean, Indonesian, French, Spanish, Italian, Malay, German and Chinese.。

6 Aspects of Choosing an Intraday Trading Broker

FP Markets and IC Markets are both reputable brokers that offer good trading conditions for day trading。However, when choosing between the two, certain factors need to be considered。

Point difference

One of the factors to consider when choosing a day trading broker is the spread conditions offered。Simply put, the spread is the difference between the bid and ask prices of a currency pair, which is an important consideration for day traders because it can have a significant impact on transaction costs and profits。

Given the importance of spreads in day trading, it is crucial to find a broker that offers low spreads。Lower spreads can help day traders reduce transaction costs and thus increase profits。Notably, IC Markets stands out in this regard as it offers lower spreads than its peers.。For example, the average EUR / USD spread for the IC Markets standard account is about 0.62 points, while FP Markets is about 1.2 points。

Commission

Trading commission refers to the fee incurred by a trader each time a position is opened or closed. It is an important consideration because it can greatly affect the profitability of an intra-day trader。Therefore, it is important to find brokers that charge lower trading commissions to maximize profits。

Each broker has its own policies when setting trading commission fees, which vary depending on factors such as the type of trading account, the type of trading market and even the specific financial instrument being traded。To make an informed decision when choosing a broker, a comprehensive understanding of these policies is essential。

In terms of trading commissions, both FP Markets and IC Markets offer commission-free cost structures, but these structures can still be expensive, with a minimum markup of 1 point or $10 per standard lot。In addition, the two brokers offer commission-based alternatives, in which FP Markets outperforms IC Markets。

Although the lowest point difference between the two brokers is 0..0 points, but FP Markets charges 6 per hand.$00 commission compared to 7 for IC Markets.00 美元。Note that both brokers apply swap rates and third-party payment processor fees for leveraged overnight positions and forward all corporate actions to clients。

Minimum deposit

For day traders, it is very important to pay attention to the minimum deposit requirement, which will greatly affect their ability to start trading with small funds and effectively use market opportunities。Day traders usually operate in a short period of time and they need the flexibility to adjust their funds according to their trading needs。

In view of this, FP Markets is the first choice for small money traders because it offers a lower minimum deposit of $100, and traders do not need to invest a lot of money in advance to start trading effectively.。Instead, IC Markets requires a minimum deposit of $200, which may limit the use of traders with less capital.。

Leverage

Leverage is an important tool that allows traders to control larger positions with less money, thereby amplifying potential profits。It is expressed in the form of a ratio, such as 1: 10, 1: 50, 1: 100, 1: 500, etc.。The first number in the ratio represents the amount that can be traded using the initial funds, and the second number represents the amount of leverage provided by the broker。

Two brokers, FP Markets and IC Markets, stand out in this regard as they offer high leverage ratios of up to 1: 500, giving traders great buying and selling power.。With this high leverage, day traders with small capital have the potential to make larger profits。

Trading platform

In trading activities, trading platforms play a very important role in the success of traders。Reliable and efficient trading platform helps traders easily analyze the market, place orders accurately and monitor open positions。Therefore, it is essential for forex brokers to provide well-designed and user-friendly trading platforms to their clients。

FP Markets and IC Markets, two well-known multi-asset brokers based in Australia, recognise the importance of a strong trading platform。They offer customers an upgraded version of the popular MT4 / MT5 platforms, which are widely used by traders worldwide。

In addition to the MT4 / MT5 platform, FP Markets also has a proprietary trading platform, IRESS, which provides traders with advanced trading tools and features。IC Markets offers the ECN trading platform cTrader, which is lightning fast and offers a variety of advanced trading tools.。

The two brokers also offer MAM / PAMM accounts that support retail account management, as well as VPS hosting services for automated traders.。All these features make FP Markets and IC Markets an attractive option for traders looking for a powerful, user-friendly trading platform。

Trading instruments

Day traders need to consider the diversity of trading tools when choosing the best broker, because the more trading tools a broker offers, the more opportunities they have to discover and take advantage of profitable trades。

FP Markets offers trading in 60 currency pairs, 5 cryptocurrency pairs and 10 commodities。MT4 / MT5 traders can use 54 stock CFDs and 15 index CFDs, while clients using IRESS accounts can trade more than 10,000 stocks.。

On the other hand, IC Markets offers 61 currency pairs, 10 cryptocurrency pairs, 22 commodities and 4 futures contracts.。Stock traders in IC Markets have access to more than 730 instruments and 25 index CFDs。In addition, IC Markets offers 11 bond CFDs。

FP Markets offers customers more shares, while IC Markets offers an overall more balanced portfolio of trading instruments for all traders, regardless of their location.。

FP Markets vs IC Markets

	FP Markets	IC Markets
Spread	1.2 points	0.62 points
Commission	6 per round.00 美元	7 per round.00 美元
Minimum deposit	100 USD	200美元
Leverage	1 : 500	1 : 500
Trading platform	MT4, MT5, IRESS	MT4, MT5, cTrader
Trading instruments	60 currency pairs, 5 cryptocurrency pairs, 10 commodities	61 currency pairs, 10 cryptocurrency pairs, 22 commodities, 4 futures

Based on the above details, we can infer that FP Markets and IC Markets have the unique advantage of meeting the needs of day traders.。From the overall assessment, both brokers can prove to be suitable choices for traders aiming to implement day trading strategies。

It is clear that FP Markets outperforms IC Markets in two key areas: minimum deposit requirements and lower commissions.。The minimum deposit requirement for FP Markets starts at $100, which is a suitable option for traders with limited funds。In addition, the $6 per lot commission is also more competitive than IC Markets。These features are of great benefit to day traders who want to minimize transaction costs and optimize trading results.。

On the other hand, IC Markets has the advantage of smaller spreads and more trading varieties。With 61 currency pairs, 10 cryptocurrency pairs, 22 commodities and more than 730 equity CFDs, IC Markets offers a comprehensive portfolio of trading assets that allows traders to find profitable entry and exit points in a variety of markets.。In addition, smaller spreads in IC Markets help traders reduce transaction costs and maximize profit margins。