FP Markets Review

Quick Verdict

Overall Score	8.9 / 10
Regulation	ASIC, FSCA, FSA Seychelles, FSC Mauritius and CMA Kenya
Best For	Active forex and CFD traders, scalpers, algorithmic traders and multi-platform users
Min. Deposit	$0 for MT4, MT5, cTrader and TradingView accounts
Spreads From	0.0 pips on Raw accounts; 1.0 pip on Standard accounts
Max Leverage	Up to 1:500 internationally; generally 1:30 for Australian retail clients
Platforms	MT4, MT5, cTrader, TradingView, Iress and FP Markets mobile app
Deposit Methods	Bank transfer, cards, e-wallets and regional payment methods
Withdrawal Speed	Usually processed by FP Markets within one business day; provider transit times vary
Verdict	A competitively priced multi-asset broker with excellent platform choice, provided traders understand which legal entity holds their account

FP Markets is an established forex and CFD broker founded in Sydney in 2005. Its strongest features are Raw account pricing, no broker-set minimum deposit on its main trading accounts, an extensive platform range and more than 10,000 instruments across forex, shares, indices, commodities, metals, cryptocurrencies, ETFs and bonds.

The group has credible regulatory coverage, led by ASIC in Australia and supported by regional licences in South Africa, Seychelles, Mauritius and Kenya. Protections remain entity-specific: international traders may receive higher leverage, but they do not necessarily receive the same safeguards available to Australian retail clients.

FP Markets Review: Our Take

FP Markets is best suited to active traders who value low trading costs and platform flexibility. Raw accounts offer variable spreads from 0.0 pips with a $3 commission per side per standard forex lot, while Standard accounts use a simpler spread-only pricing structure.

The removal of a broker-set minimum deposit for MT4, MT5, cTrader and TradingView accounts makes FP Markets more accessible. Traders must still deposit enough to cover the margin required for their intended position, and individual payment methods can impose their own minimum transaction amounts.

Platform choice is a major strength. FP Markets supports MetaTrader 4, MetaTrader 5, cTrader and TradingView, while eligible Australian clients can use Iress. The proprietary FP Markets mobile app adds convenient account management, market monitoring, charting and trade execution on iOS and Android.

The main tradeoff is the group’s multi-entity structure. Australian retail clients receive ASIC leverage limits and negative balance protection, while international accounts may offer leverage as high as 1:500 under regulatory frameworks with fewer statutory protections. FP Markets also has a regulatory history that includes a 2014 ASIC enforceable undertaking and a 2024 FCA warning concerning unauthorised UK activity.

Overall, FP Markets earns 8.9 out of 10. Its pricing, platforms and product range are excellent, but traders should confirm their contracting entity and applicable protections before depositing.

What Is FP Markets?

FP Markets is a privately owned forex and CFD broker established in Australia in 2005. Its Australian company, First Prudential Markets Pty Ltd, has held Australian Financial Services Licence 286354 since 2005.

The broker operates primarily as an over-the-counter CFD provider. Its Iress offering gives eligible clients access to exchange pricing and direct-market-access-style functionality for share CFDs. Clients normally trade derivatives rather than acquiring ownership of the underlying shares, currencies, commodities or cryptocurrencies.

FP Markets offers two principal forex and CFD pricing models:

• Standard accounts incorporate the broker’s charge into the spread.
• Raw accounts provide lower underlying spreads and charge a separate commission on forex trades.

The group operates through companies in Australia, South Africa, Seychelles, Mauritius, Kenya and Saint Lucia. FP Markets Ltd in Saint Lucia is a registered company rather than a locally licensed investment dealer. The group’s operating history should therefore not be confused with the age or regulatory status of every individual entity.

Is FP Markets Regulated? Safety & Licences

Regulatory Licences

Regulator	Jurisdiction	Licence Number	Verified
Australian Securities and Investments Commission (ASIC)	Australia	AFSL 286354	Yes
Financial Sector Conduct Authority (FSCA)	South Africa	FSP 50926	Yes
Financial Services Authority (FSA)	Seychelles	SD130	Yes
Financial Services Commission (FSC)	Mauritius	GB21026264	Yes
Capital Markets Authority (CMA)	Kenya	193	Yes

First Prudential Markets Pty Ltd is the Australian entity. ASIC rules require retail client money to be held separately from company funds and impose negative balance protection, standardised margin close-out rules and CFD leverage limits ranging from 1:30 to 1:2. Australia does not have a government-backed investor compensation fund equivalent to the UK FSCS.

FP Markets (Pty) Ltd is an authorised South African financial services provider under FSP number 50926. First Prudential Markets Limited is listed by the Seychelles FSA and operates under securities dealer licence SD130. FP Markets Limited appears in the Kenyan CMA register under licence 193.

International FP Markets companies state that client money is held in segregated accounts and that negative balance protection is available. However, statutory compensation coverage does not extend across the group. Offshore and regional accounts should not be treated as if they carry the same protections as an Australian retail account.

Two regulatory events deserve attention:

• In 2014, ASIC accepted an enforceable undertaking addressing concerns about FP Markets’ processes for detecting and escalating potentially manipulative client trading.
• In October 2024, the UK Financial Conduct Authority warned that FP Markets was not authorised to provide or promote financial services in the UK. FP Markets lists the UK among its restricted jurisdictions.

These events do not negate the group’s valid licences, but they prevent FP Markets from receiving a top-tier safety score.

FP Markets Account Types

Account	Min. Deposit	Spreads	Commission	Platforms	Islamic Available
Standard	$0	From 1.0 pip	None on forex	MT4, MT5, cTrader	Yes
Raw	$0	From 0.0 pips	$3 per side per standard forex lot	MT4, MT5, cTrader, TradingView	Yes
Iress Retail	AU$1,000 minimum balance	Market-based	Share-trading commission schedule	Iress	No
Iress Wholesale/Professional	AU$1,000 minimum balance	Market-based	Volume-dependent	Iress	No

FP Markets does not impose a minimum deposit on its main MT4, MT5, cTrader and TradingView accounts. This does not mean a trader can open positions without funding the account: the deposit must still be sufficient to satisfy the margin requirement, while payment providers may set their own transaction minimums.

The Standard account is suitable for traders who prefer to see their forex trading cost incorporated into the spread. The Raw account is generally more attractive to scalpers, day traders and automated-strategy users who benefit from tighter underlying spreads.

Demo accounts are available for testing platforms with virtual funds. They reproduce quoted market conditions but cannot fully simulate live liquidity, slippage or the psychological impact of risking real money.

Swap-free Standard and Raw accounts are available to eligible Muslim clients. Instead of conventional overnight interest, FP Markets may apply instrument-specific administration charges. Grace periods and charges vary by instrument, and proof of faith may be requested.

Professional and wholesale classification can provide higher leverage but may reduce regulatory protections. Eligibility depends on the client’s jurisdiction, assets, income or trading experience and should not be treated as a routine account upgrade.

FP Markets Spreads, Fees & Commissions

FP Markets’ Raw account is its most competitive pricing option. Forex spreads can start at 0.0 pips, with a $3 commission per side, equivalent to $6 for a complete one-lot opening and closing transaction. Equivalent commission rates apply in supported account currencies.

Standard accounts charge no separate forex commission but start at 1.0 pip. Indices, commodities and cryptocurrency CFDs are generally priced through their spreads, while share CFDs can carry exchange-specific commissions.

Spreads Comparison

Instrument	FP Markets Spread	Industry Average	Verdict
EUR/USD – Raw	From 0.0 pips plus $6 round-turn commission	0.0–0.3 pips plus $6–$7 commission	Highly competitive
EUR/USD – Standard	From 1.0 pip, no commission	Approximately 1.0–1.4 pips	Competitive
Major forex pairs – Raw	From 0.0 pips plus commission	From 0.0–0.4 pips plus commission	Above average
Gold	Variable spread; account charges may apply	Variable spread or commission pricing	Competitive, but check live pricing
Major indices	Variable and generally spread-only	Approximately 0.4–1.5 index points	Competitive on liquid markets

These are minimum variable spreads rather than guaranteed averages. Pricing can widen around news announcements, market openings and periods of low liquidity.

Positions held past the daily rollover time may incur or receive swap adjustments. Share and index financing depends on the relevant benchmark rate, position direction and broker markup.

Non-trading charges vary by contracting entity. Australian accounts do not carry a general inactivity fee, while the Saint Lucia client agreement provides for a $10 monthly inactivity charge after 90 continuous days without trading, funding, withdrawals, open positions or platform login. The agreement presented during registration determines the applicable terms.

FP Markets generally does not charge deposit or withdrawal processing fees, although banks, card providers, payment processors and e-wallets can impose their own charges. Currency conversion may also add a cost when the payment and account currencies differ.

FP Markets Trading Platforms

Platform Comparison

Platform	Desktop	Web	Mobile	EAs/Bots	Notes
MetaTrader 4	Yes	Yes	Yes	Yes	Established forex ecosystem, MQL4 EAs and strategy testing
MetaTrader 5	Yes	Yes	Yes	Yes	Broader market coverage, additional orders and MQL5 automation
cTrader	Yes	Yes	Yes	Yes	Modern interface, depth of market and C#-based cBots
TradingView	Yes	Yes	Yes	Limited	Advanced charting, community indicators and trading from charts
Iress	Yes	Yes	Yes	Limited	Share-focused functionality; eligibility and data fees apply
FP Markets mobile app	No	No	Yes	No	Mobile trading, account management, funding and market monitoring

MT4 remains a practical choice for forex traders who already use Expert Advisors or custom MQL4 indicators. MT5 is the stronger general-purpose MetaTrader option, with a broader instrument set, additional order types and more capable strategy-testing tools.

cTrader provides a cleaner interface, depth-of-market displays and C#-based automation. It is a good alternative for active traders who want raw pricing without relying on the MetaTrader ecosystem.

TradingView is integrated with FP Markets’ Raw offering. Clients can connect their brokerage account, analyse markets with TradingView’s charts and indicators, and place or manage trades directly from the chart. TradingView is available through desktop, web and mobile interfaces, although its automation workflow is not equivalent to running an MT4 or MT5 Expert Advisor.

The FP Markets mobile app is available for iOS and Android. It supports real-time market monitoring, trade execution, portfolio management, technical analysis, favourites, funding controls and stop-loss or take-profit settings. Its simpler mobile interface is convenient for routine account access, while desktop platforms remain better suited to intensive charting and automated systems.

FP Markets also supports social and copy-trading tools. Copying another trader does not remove execution, leverage or strategy risk.

FP Markets Assets & Markets

Asset Coverage

Asset Class	Number of Instruments	Examples
Forex	70+ pairs	EUR/USD, GBP/USD, USD/JPY, AUD/USD
Share CFDs	Thousands on the broadest offering	Apple, Microsoft, Nvidia, Amazon and international shares
Indices	Major global selection	S&P 500, Nasdaq 100, FTSE 100, DAX 40
Metals	Broad selection	Gold, silver, platinum, palladium
Commodities	Broad selection	Brent oil, WTI oil, natural gas, corn, sugar
Cryptocurrency CFDs	Available by jurisdiction	Bitcoin, Ethereum, XRP, Litecoin
ETF CFDs	Broad selection	Equity, bond, commodity and sector ETFs
Bond CFDs	Selected markets	US 10-year Treasury note, UK long gilt

FP Markets offers more than 10,000 CFDs across its broadest product range. The headline count is driven mainly by its international share selection, and not every instrument is available on every platform or through every group company.

MT5, cTrader, TradingView and Iress generally provide broader multi-asset coverage than MT4. Cryptocurrency CFDs are restricted or unavailable in some regulated jurisdictions.

FP Markets does not accept US or UK residents. The global site also excludes residents of the European Economic Area and several sanctioned or high-risk jurisdictions. Australian operations separately restrict residents of Japan and New Zealand.

FP Markets Leverage

Leverage depends on the client’s legal entity, regulatory classification and chosen instrument. The maximum of 1:500 applies to eligible international or professional accounts, not to ordinary retail clients in every jurisdiction.

Leverage Table

Trader Type	Max Leverage (Forex)	Max Leverage (Crypto)	Max Leverage (Indices)
Australian retail	1:30	1:2	1:20 on major indices
International retail	Up to 1:500	Instrument-specific	Instrument-specific
Eligible professional/wholesale	Up to 1:500	Instrument-specific	Instrument-specific

ASIC’s retail limits provide a meaningful risk control. Professional and international accounts permit larger exposures but also make it easier to exhaust the margin committed to a position.

FP Markets can reduce leverage or raise margin requirements during volatile market conditions. The contract specification displayed in the trading platform is the final reference for a particular instrument and account.

FP Markets Deposits & Withdrawals

FP Markets supports bank transfers, Visa and Mastercard, selected e-wallets and regional payment methods. Australian clients may also have access to PayPal, Apple Pay, Google Pay, BPay and PayID. Availability depends on the client’s country and legal entity.

Deposit Methods

Method	Min. Deposit/Withdrawal	Fee	Processing Time
Bank transfer	Provider limits apply	Usually no broker fee	Commonly 1–3 business days
Visa/Mastercard	Provider limits apply	Usually no broker fee	Typically instant or within minutes after approval
E-wallets	Provider limits apply	Third-party charges may apply	Typically instant or within minutes
Apple Pay/Google Pay	Country-specific	Usually no broker fee	Typically instant
BPay/PayID	Australian clients only	Usually no broker fee	Typically within one business day
Local payment methods	Country-specific	Varies	Instant to several business days

Withdrawal Methods

Method	Min. Deposit/Withdrawal	Fee	Processing Time
Bank transfer	Provider limits apply	No standard FP Markets fee; bank charges may apply	Usually 1–3 business days after broker processing
Visa/Mastercard	Provider limits apply	Provider charges may apply	Usually 1–3 business days after broker processing
E-wallets	Provider limits apply	Third-party charges may apply	Often instant after broker processing
Local payment methods	Country-specific	Varies	Usually one to several business days

FP Markets states that withdrawal requests are normally processed within one business day. This is separate from the time taken by the receiving bank, card network or payment provider.

Deposited funds must generally be returned to their original source before profits can be sent through another approved method. Payments must be in the account holder’s name, and third-party deposits or withdrawals are not accepted.

Identity checks, payment-method verification and source-of-funds reviews can extend processing times, particularly for a first withdrawal or unusually large transaction.

FP Markets Customer Support

Channel	Available	Hours	Response Time
Live chat	Yes	24/7	Usually prompt; varies by demand
Email	Yes	Continuous submission	Varies
Phone	Yes	Regional hours vary	Varies
Callback	Yes	By request	Varies
Help centre	Yes	24/7 self-service	Immediate

FP Markets provides multilingual assistance through live chat, email, telephone and callback requests. The searchable help centre covers account opening, funding, withdrawals, platforms and common trading questions.

The breadth of contact options is a strength. Clients should use the contact details associated with their legal entity, especially when handling payments, formal complaints or account-classification questions.

FP Markets Education & Research

FP Markets Academy provides structured trading courses, platform tutorials, written guides, webinars, podcasts and a trading glossary. The material is useful for beginners learning market terminology and for existing traders moving to a new platform.

Research resources include technical and fundamental commentary, market analysis, an economic calendar and trading calculators. Depending on the account and jurisdiction, clients may also receive tools such as Autochartist, Trading Central, Traders Toolbox or virtual private server access.

The package is stronger than the basic content library offered by many execution-focused brokers. Market commentary, signals and automated analysis remain general information rather than personalised investment advice or a guarantee of successful trades.

FP Markets Pros and Cons

PROS	CONS
No broker-set minimum deposit on MT4, MT5, cTrader and TradingView accounts	Client protections vary significantly between legal entities
Raw spreads from 0.0 pips with a competitive $6 round-turn forex commission	No FCA-authorised UK entity; UK residents are restricted
MT4, MT5, cTrader and TradingView support	International leverage up to 1:500 carries substantial risk
Proprietary FP Markets mobile app for iOS and Android	Inactivity terms differ between entities
More than 10,000 instruments on the broadest offering	No statutory investor compensation scheme for most international accounts
Scalping, EAs and automated trading supported	Swap-free accounts can incur administration charges
Segregated client accounts and negative balance protection	Iress has higher funding requirements and potential platform or data costs
Islamic Standard and Raw accounts available	No ownership of underlying assets when trading CFDs
Multilingual 24/7 support	Availability of products and payment methods varies by jurisdiction

Is FP Markets Legit? Our Verdict

FP Markets is a legitimate broker with an operating history dating to 2005 and several identifiable regulated companies. Its ASIC, FSCA, FSA, FSC and CMA licences distinguish it from anonymous or wholly unregulated offshore brokers.

Its record is not spotless. The FCA’s 2024 warning means UK consumers should not use the international website, while the 2014 ASIC undertaking remains part of the broker’s compliance history.

Australian retail clients receive the strongest combination of leverage limits, negative balance protection, segregated client money and external dispute resolution. International clients gain access to competitive conditions and potentially higher leverage but may have fewer statutory protections and no investor compensation scheme.

Our verdict remains positive: FP Markets is a high-quality trading broker with particularly strong pricing and platform choice. Clients should nevertheless confirm the legal entity named in the application and client agreement before funding their account.

MTR Rating Breakdown

Category	Score	Notes
Regulation & Safety	8.3 / 10	Long ASIC history and multiple regional licences, offset by entity differences and regulatory history
Spreads & Fees	9.1 / 10	Competitive Raw pricing, reasonable Standard spreads and no broker-set minimum on main accounts
Platform Quality	9.4 / 10	Excellent choice across MetaTrader, cTrader, TradingView, Iress and the FP Markets app
Asset Coverage	9.2 / 10	Extensive share CFD catalogue and broad multi-asset coverage
Deposit & Withdrawal	8.6 / 10	Good regional method selection and one-business-day broker processing
Customer Support	8.8 / 10	Multilingual 24/7 support across several channels
Overall	8.9 / 10	Excellent pricing, platform choice and market coverage, balanced by entity-specific regulatory protections

FP Markets is best for cost-conscious forex and CFD traders who want raw pricing, automation, TradingView integration and multiple professional platforms. It is less suitable for investors seeking ownership of underlying assets, guaranteed stop-loss orders or identical regulatory protection in every country.

FP Markets Alternatives

Alternative	Best For	Min. Deposit	Regulation	Spreads From
Pepperstone	Platform choice and low entry funding	Low; varies by region	FCA, ASIC, BaFin, DFSA, CMA, SCB	0.0 pips on Razor
IC Markets	High-volume MetaTrader and cTrader trading	$200	ASIC and FSA Seychelles	0.0 pips on Raw
AvaTrade	Beginners, proprietary tools and FX options	$100	Central Bank of Ireland, ASIC, FSCA, FSA Japan, ADGM, BVI FSC and CMA Kenya	Approximately 0.9 pips on EUR/USD

Pepperstone is FP Markets’ closest all-round alternative. It offers a similarly broad selection of third-party platforms, proprietary web and mobile software, and raw spreads, but its overall CFD catalogue is smaller.

IC Markets is particularly competitive for forex automation and high-volume MetaTrader or cTrader trading. Its usual entry funding is higher, and international clients must still check which entity holds their account.

AvaTrade uses predominantly spread-based pricing and offers a more guided proprietary experience, including AvaTradeGO, AvaSocial and AvaOptions. It is less attractive to traders specifically seeking a raw-spread account but may be more approachable for beginners.

Frequently Asked Questions

Is FP Markets a scam?

FP Markets is an established broker with identifiable regulated companies in Australia, South Africa, Seychelles, Mauritius and Kenya. Traders should use the official website and check the legal company named in their client agreement.

Is FP Markets regulated?

Yes. Its principal licences include ASIC AFSL 286354, FSCA FSP 50926, FSA Seychelles SD130, FSC Mauritius GB21026264 and CMA Kenya licence 193.

What is the FP Markets minimum deposit?

FP Markets does not impose a minimum deposit on MT4, MT5, cTrader or TradingView accounts. Traders must still deposit enough to satisfy margin requirements, and payment providers may set transaction minimums. Iress accounts require an AU$1,000 minimum balance.

What spreads does FP Markets offer?

Raw account spreads start at 0.0 pips with a $3 commission per side per standard forex lot. Standard account spreads start at 1.0 pip without a separate forex commission.

Which platforms are available?

FP Markets supports MetaTrader 4, MetaTrader 5, cTrader, TradingView and its proprietary mobile app. Iress is available to eligible clients, particularly within the Australian offering.

Does FP Markets have a mobile app?

Yes. The FP Markets mobile app is available on iOS and Android and supports market monitoring, charting, trade execution, funding and account management.

Can US or UK residents open an account?

No. FP Markets lists the United States and United Kingdom among its restricted jurisdictions. The global operation also excludes residents of the European Economic Area and certain sanctioned or high-risk jurisdictions.

How long do FP Markets withdrawals take?

FP Markets normally processes withdrawal requests within one business day. E-wallet receipts may be nearly immediate after processing, while card and bank transfers commonly require another one to three business days.

What is the maximum leverage?

International accounts may receive leverage up to 1:500. Australian retail clients are normally limited to 1:30 on major forex pairs, with lower limits on other asset classes.

Is FP Markets suitable for beginners?

It can be. The absence of a broker-set minimum deposit, demo account, Standard pricing model, mobile app and educational academy make FP Markets accessible to beginners. New traders should use conservative position sizes and avoid treating 1:500 leverage as a target.

Is FP Markets suitable for prop traders?

FP Markets is a retail and professional CFD broker rather than a proprietary trading firm. Its Raw accounts, automation support, scalping policies and VPS access can suit systematic traders, but users should review all prohibited-practice and execution clauses before deploying a strategy.

Review Methodology

MyTradingReviews evaluates brokers using publicly available broker information, legal documents, official regulatory registers and enforcement notices, platform and fee disclosures, and credible independent sources. Scores reflect regulation, client protections, trading costs, platform quality, asset coverage, funding, withdrawals and customer support.