FP Markets Review 2026: Fees, Regulation & Trading Conditions

FP Markets is a forex and CFD broker founded in 2005, offering Standard and Raw pricing alongside a range of third-party trading platforms. Its account terms, available leverage and protections depend on the contracting entity and the client’s location.

Best For: Active traders who value a choice of platforms and either spread-inclusive or raw-spread pricing.

Key Strength: The combination of MT4, MT5, cTrader and TradingView with a Raw account option gives platform flexibility to traders who want to compare execution tools and pricing structures.

Main Limitation: The maximum leverage and client safeguards are not uniform worldwide; the entity serving the client matters.

Verdict: FP Markets may suit platform-focused traders who understand the difference between spread-only and commission-based costs. Check the contracting entity and its terms before opening an account, particularly if leverage or compensation protection is important.

How We Rate Brokers: View our review methodology.

FP Markets operates through separate legal entities, so the regulator and protections that apply depend on where the client is booked. The global website should not be treated as evidence that a client will contract with a particular regional entity. EEA clients should distinguish the separate fpmarkets.eu route from the global site.

Regulatory Licences

First Prudential Markets Pty Ltd — ASIC, licence/reference 286354 (Australian clients using the ASIC entity).

First Prudential Markets Ltd — CySEC, licence/reference 371/18 (EEA/EU clients using fpmarkets.eu).

FP Markets (Pty) Ltd — FSCA, licence/reference 50926 (South African clients / clients routed to the South African entity).

Client Protection Measures

FP Markets says client funds are held separately from company funds in trust accounts. This is a broker-stated safeguard, not a guarantee against loss or insolvency. Negative balance protection is standard for UK and EU residents under the applicable retail framework; in other jurisdictions it can depend on the entity’s terms and account type.

Qualifying retail clients of the CySEC-regulated EU entity may have Investor Compensation Fund cover of up to €20,000. That qualification does not establish equivalent cover for clients of other FP Markets entities. Verify the contracting entity and the protections set out in its client agreement before funding an account.

Spreads and Commissions

FP Markets offers a Standard account with commission-free forex and metals trading, where the charge is incorporated into a wider spread, and a Raw account with tighter spreads and a separate commission. Raw forex and metals commission is US$3 per side per lot. The standard account’s starting spread is about 1 pip; actual spreads are floating and can differ from starting or average figures.

Published average spreads include 1.28 pips for EUR/USD and 1.51 pips for GBP/USD. The quoted average for gold (XAU/USD) is 0.24 points and for the S&P 500 CFD it is 0.25 points. These figures use different instruments and units and do not guarantee the spread available when an order is placed. Share-CFD commissions vary by market; on IRESS they can start from 0.11%. Indices, commodities and cryptocurrencies are typically commission-free, with costs incorporated into the spread.

Other Trading and Non-Trading Charges

Positions held beyond the daily rollover may incur overnight swap charges, which can be a debit or credit depending on the instrument and position. Wednesday rollover is tripled. Swap-free Islamic accounts are available on Standard and Raw accounts, but administration fees apply; selected currency pairs have no administration fee for the first five nights.

FP Markets charges no deposit, withdrawal, inactivity or currency-conversion fee. These fee statements do not remove possible charges imposed by a payment provider or bank.

Standard and Raw are the main forex and CFD account models. Standard pricing incorporates the charge into the spread, while Raw pricing uses tighter spreads with a separate commission. Both have a $100 minimum deposit for MT4 and MT5 accounts. IRESS accounts, designed for share CFDs and DMA trading, have a separate $1,000 minimum. Account availability and terms may vary by entity.

FP Markets requires new clients to complete identity and address verification under its KYC and anti-money-laundering process before activating a live account. Identity evidence may be a passport, national identity card or driving licence; address evidence may be a utility bill or bank statement issued within the previous six months.

How to Open an Account with FP Markets

Choose the account and platform appropriate to your trading, complete the application and provide the requested verification documents. Before depositing, confirm which FP Markets entity will hold the account, the account’s base currency and the terms that apply in your jurisdiction.

FP Markets advertises leverage up to 1:500 on eligible forex offerings, but this is not a universal limit. Retail clients in the UK and EU are capped at 30:1 on major forex pairs, with lower limits applying to some other products. International retail leverage can reach 1:500 depending on the governing entity. Eligible professional clients may access up to 1:500 on major forex pairs, subject to qualification and the relevant entity’s terms.

Margin requirements also vary by instrument and jurisdiction. The account information gives a 100% margin-call level and a 50% stop-out level; clients should confirm that these levels apply to their own account. Negative balance protection is not described as universal outside the UK and EU, so it should not be assumed across all entities or account types.

Leverage magnifies both gains and losses. A high maximum does not mean that a client should use it in full; check the applicable margin and close-out terms before placing trades.

Platforms and Trading Features

MT4 and MT5 are available alongside cTrader and TradingView. IRESS provides a separate platform suite focused on share CFDs. FP Markets also offers a mobile app and social copy-trading functionality. MT4 and MT5 support Expert Advisors, while cTrader offers Open API connectivity for custom applications.

Copy trading is available through FP Markets’ social-trading service and third-party options including Myfxbook AutoTrade. Followers can copy strategies, while providers may set performance fees from 0% to 50%; subscribers are described as having no registration or maintenance fee. Copying another trader does not remove the risk of loss.

Order Execution and Trading Restrictions

Scalping, hedging and news trading are permitted. The client agreement prohibits abusive trading, including exploiting pricing inaccuracies or latency. During fast-moving or low-liquidity conditions, spreads can widen and slippage can result in an order filling above or below its intended price; stop-loss orders may therefore execute at a worse price than requested.

When Is FP Markets’ Four-Widget Iress Essential Limit Restrictive?

FP Markets offers two Iress ViewPoint versions for eligible Australian share-CFD traders. The Essential version is limited to four widgets per workspace, while the full ViewPoint version gives access to a wider selection without that four-widget limit. Four widgets may be enough for a chart, quotes, a watchlist and order entry, but a trader who routinely follows multiple order books and charts could find the layout restrictive. FP Markets states that the full platform has a monthly cost of AU$75, with AU$25 for ASX live data. According to its Australian FAQ, those fees can be rebated after at least AU$200 of commission in the same calendar month; other exchange data charges may still apply. For an active Australian shares trader, the decision is whether the extra workspace and data are worth the net monthly platform cost, not simply which version offers more features.

Markets Available at FP Markets

• Forex

  Maximum Leverage1:500

  • Major
  • Minor/Cross
  • Exotic/Emerging-market (pairs)
• Indices

  Maximum Leverage1:200

  • Global equity indices
• Cryptocurrencies

  Maximum Leverage1:5

  • Bitcoin
  • Ethereum
  • Litecoin
  • Altcoins (instrument type not specified)
• Commodities

  Maximum Leverage1:500

  • Metals (precious)
  • Energy
  • Agriculture
• Stocks

  Maximum Leverage1:20

  • US
  • UK
  • Europe
  • Australia stocks (CFDs)
• ETPs

  Maximum Leverage1:5

  • Equity
  • Index
  • Sector ETFs (CFDs)
• Bonds

  Maximum Leverage1:100

  • Government bonds — US Treasuries
  • UK Gilts (CFDs)

FP Markets offers forex, global equity indices, commodities and cryptocurrency instruments, alongside CFDs on shares from several major markets. ETF and government-bond CFDs provide additional market exposure without direct ownership of the underlying assets.

Market Coverage and Accessibility

Available products include major, minor and exotic forex pairs; metals, energy and agricultural commodities; and share CFDs covering the US, UK, Europe and Australia. ETF CFDs include equity, index and sector products, while government-bond CFDs include US Treasuries and UK Gilts. Cryptocurrency instruments include Bitcoin, Ethereum, Litecoin and other altcoins; the instrument type is not specified. Product availability and leverage depend on the client’s jurisdiction and contracting entity.

Deposit and Withdrawal Conditions

FP Markets accepts card, e-wallet, bank-transfer and selected digital-asset payment methods. It charges no deposit or withdrawal fee, although a bank or payment provider may apply its own charges. Deposits by card, e-wallet or crypto may take up to one hour; bank-transfer deposits can take around 7–10 business days. Card withdrawals usually take 5–10 business days, while bank transfers generally take 3–5 business days. Processing times are estimates and depend on the method used.

Customer Support

Customer support operates 24/7 and is available by chat, email, phone, callback and help centre. Clients can email [email protected] or call 1 758 457 9804. Support is offered in multiple languages, including English and several European and Asian languages.

Broker Comparison Table

Key Competitive Differences

IC Markets is a possible alternative for traders seeking an account with no minimum deposit: it advertises Standard and Raw Spread accounts with no minimum, compared with FP Markets’ $100 minimum for Standard and Raw MT4/MT5 accounts. IC Markets also advertises higher maximum leverage on some international accounts, but the figures vary substantially by account and are not a like-for-like comparison with FP Markets’ jurisdiction-dependent limits.

Pepperstone may be relevant to UK-based clients comparing entry deposits: its general UK minimum is £10, while FP Markets’ Standard and Raw minimum is $100. Pepperstone distinguishes retail leverage from professional eligibility, so its headline professional limit should not be treated as a retail offer.

Standard-account starting spreads are about 1 pip at FP Markets, IC Markets and Pepperstone. Starting spreads do not establish comparable average trading costs or execution quality, and they should not be read as a ranking. Compare the account’s full commission, spread, jurisdiction and instrument terms before choosing.

Traders Who May Benefit

FP Markets may suit active traders who want to choose between spread-inclusive and Raw pricing, use MT4, MT5, cTrader or TradingView, or run platform-based automation. The broker permits scalping and hedging, which may matter to traders using those approaches, although execution conditions and the abusive-trading policy still apply.

Traders interested in share CFDs may value the separate IRESS offering, while social traders can use copy-trading features. Both groups should check the relevant account minimum and any market-specific commissions or provider fees.

Traders Who May Prefer Alternatives

Clients prioritising a lower initial deposit may prefer a broker whose applicable account has a lower minimum. Traders who need a particular leverage level or compensation protection should compare entities and client classifications first: FP Markets’ maximum leverage and safeguards differ across jurisdictions, and EU compensation cover applies only to qualifying retail clients of its CySEC-regulated entity.