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How it compares

FP Markets review

Where FP Markets wins and loses against the rest of the field, spec by spec.

Last checked

FP Markets loses more of these comparisons than it wins, and it is worth seeing which, because a broker that is behind on cost and ahead on protection may still be the right pick for you. Regulated by ASIC (AFSL 286354); CySEC (371/18); FSCA (FSP 50926); Seychelles FSA (SD130); Mauritius FSC (GB21026264); CMA Kenya, offering MetaTrader 4, MetaTrader 5, cTrader, TradingView, IRESS.

Our rating

7.9/10

One rating, identical across our sites - only the way it is shown changes. It averages six assessments: regulation, trading costs, platforms, markets, support and education.

What it costs to trade

8.9/10
Spread from
0.0 pips
EUR/USD spread
Approx. 0.1 pips, Raw
GBP/USD spread
Approx. 0.3 pips, Raw
Commission
US$3 per side / US$6 round turn, Raw
All-in cost, EUR/USD
Approx. 0.7 pips
Spread type
Variable
Overnight swap
Both: overnight swaps apply; Islamic accounts available
Currency conversion
Conversion at FP Markets' prevailing exchange rate

Cost comparisons only hold when the account types are the same, so this compares like with like.

A quoted spread from 0.0 pips is a raw-spread figure, which almost always means a separate commission per lot. Compare the two together - a "zero spread" account with a high commission can cost more than a wider spread with none.

Quoted spreads are best-case figures on the most liquid pair, in normal conditions. What you actually pay widens around news and at the session open.

FP Markets lists a minimum deposit of $100. Treat it as the cost of opening an account, not the cost of trading one - position sizing on a small balance is what tends to cause damage.

Markets and execution

8.4/10
Markets
Forex, Shares, Indices, Commodities, Metals, ETFs, Bonds, Cryptocurrencies
Currency pairs
70+
Total instruments
10,000+
Crypto CFDs
Yes
Maximum leverage
1:30
Execution model
ECN pricing / no dealing desk
Execution speed
Under 8ms
Order types
Market, limit, stop, stop-limit, stop-loss, take-profit, trailing stop
Servers
Equinix NY4, New York

Leverage is capped at 1:30, which is the retail limit under tier-one regulation. It is a protection rather than a restriction: it caps how quickly a position can move against your balance.

FP Markets covers forex, shares, indices, commodities, metals, etfs, bonds, cryptocurrencies. A wider range matters less than depth in the instruments you actually trade.

Funding options: visa, mastercard, bank transfer, skrill, neteller, paypal, cryptocurrency, broker-to-broker transfer and regional methods. Check withdrawal routes as well as deposit ones - they are often not the same, and the difference only becomes apparent when you try to take money out.

Platforms and tools

9.1/10
Platforms
MetaTrader 4, MetaTrader 5, cTrader, TradingView, IRESS
Own platform
No
Mobile app
Third-party
Browser trading
Yes
Automated trading
Yes; EAs, automated trading and VPS supported
Copy trading
Yes, FP Markets Copy Trading
Indicators
100+ via TradingView; 30+ MT4; 38+ MT5
Third-party tools
TradingView, Autochartist, Trading Central, VPS, IRESS
API access
Yes, FIX API/institutional connectivity

MetaTrader 4 remains the most widely supported platform for expert advisors. If you rely on an existing EA, this is usually the deciding factor.

MetaTrader 5 handles more asset classes and order types than MT4, but expert advisors are not compatible between the two - an MT4 EA will not run on it.

cTrader shows depth of market and level II pricing, and is usually paired with raw-spread accounts rather than fixed-spread ones.

TradingView integration lets you trade from charts you may already use, removing the need to run a second platform for analysis.

Regulation and safety

9.4/10
Regulated by
ASIC (AFSL 286354); CySEC (371/18); FSCA (FSP 50926); Seychelles FSA (SD130); Mauritius FSC (GB21026264); CMA Kenya
Regulator tier
Tier 1
Register entry
ASIC Professional Registers, AFSL 286354
Client money segregated
Yes
Held at
Major regulated banking institutions
Negative balance protection
Yes, retail clients
Compensation scheme
ICF up to €20,000 for eligible CySEC clients; no statutory investor compensation scheme under ASIC/Seychelles entities
Audited by
Independent external auditors
Not available to
Afghanistan, Cuba, Iraq, Iran, Liberia, Libya, Myanmar, Palestine, Russia, Somalia, Syria, Sudan, Yemen, United States, and FATF/EU/UN-sanctioned jurisdictions

This is the comparison where brokers separate most sharply, and it is rarely close.

FP Markets holds tier-one authorisations from ASIC and CySEC. That matters more than any headline spread: it determines your leverage cap, whether losses can exceed your deposit, and what happens to your money if the firm fails.

It also operates an offshore entity (FSC and FSA). Which one you are onboarded to depends on where you live, and the two carry very different protections - worth confirming before you deposit.

ASIC caps retail leverage at 1:30, requires negative balance protection, and obliges the broker to hold client money in a separate trust account.

CySEC licences passport across the EU and follow the 1:30 retail leverage cap, with the Investor Compensation Fund covering eligible claims.

The FSCA licenses derivative providers in South Africa without a fixed retail leverage cap, so headline leverage is often higher than an FCA or ASIC entity may offer.

Check the licence yourself: ASIC Connect, the CySEC register of investment firms, the FSCA list of regulated entities, the Seychelles FSA list of regulated entities, the Mauritius FSC register of licensees.

Accounts

Minimum deposit
$100
Account types
Standard, Raw, IRESS, Islamic, Professional/Wholesale, Demo
Account currencies
AUD, USD, EUR, GBP, SGD, CAD, CHF, JPY, NZD, HKD
Islamic account
Yes
Demo account
Yes
Professional account
Yes
Minimum trade size
0.01 lots
Time to open
Typically a few minutes

Deposits and withdrawals

Deposit methods
Visa, Mastercard, bank transfer, Skrill, Neteller, PayPal, cryptocurrency, broker-to-broker transfer and regional methods
Withdrawal methods
Visa/Mastercard, bank transfer, Skrill, Neteller, PayPal, crypto and applicable original funding methods
Deposit time
Instant for cards and most e-wallets; crypto up to 1 hour; bank transfers typically 1-3 business days
Withdrawal time
Typically processed within 1 business day; bank transfers may require an additional 1-3 business days
Minimum withdrawal
No general minimum
Local payment methods
BPAY; PayID; POLi and various region-specific local banking/payment methods

Support and education

6.5/10
Support hours
24/7
Contact channels
Live chat, email, phone
Languages
Multilingual
Telephone
+61 2 8252 6800
Email
support@fpmarkets.com.au
Live chat response
Average 21 seconds
Education
Extensive: FP Markets Academy, courses, ebooks, webinars, videos, tutorials and trading guides
Research
Extensive: market analysis, Trading Central, Autochartist, technical/fundamental analysis and trading tools

The company behind the brand

Legal entity
First Prudential Markets Pty Ltd
Company number
ABN 16 112 600 281
Headquarters
Sydney, Australia
Founded
2005
Publicly listed
No
Parent company
Independent
Employees
200+
Also trades as
FP Markets; First Prudential Markets

Questions people ask about FP Markets

How many instruments can I trade at FP Markets?

FP Markets lists 10,000+, across forex, shares, indices, commodities, metals, etfs, bonds, cryptocurrencies. A long instrument list is worth little if the ones you actually trade are not on it, so the count matters less than the coverage.

Is FP Markets a market maker or does it pass orders through?

FP Markets runs a ECN pricing / no dealing desk model, which means it takes the other side of your trade. That is not dishonest in itself, and it does mean its book and your position point in opposite directions.