FP Markets is an Australian CFD and forex broker founded in Sydney in 2005. It is known for low-cost Raw pricing and a broad choice of MetaTrader and cTrader platforms. The group is regulated in several places, including by ASIC in Australia and CySEC in Cyprus. Most clients outside Australia, the EU, South Africa and Kenya, however, are served through offshore group companies. Our verdict: FP Markets is a strong choice for cost-conscious traders who use MT4, MT5 or cTrader. Before you fund an account, check which legal entity you are signing up with, because that decides how much protection you get.
FP Markets at a glance
| Item | Details (as of November 2026) |
|---|---|
| Founded | 2005, Sydney, Australia |
| Top-tier regulation | ASIC (AFSL 286354), CySEC (CIF 371/18) |
| Other regulation | FSCA South Africa (FSP 50926), CMA Kenya (licence 193) |
| Offshore entities | Seychelles FSA (First Prudential Markets Limited); FP Markets Ltd, a company registered in Saint Lucia |
| Account types | Standard (also called Classic in some regions) and Raw |
| Spreads | From 1.0 pips (Standard), from 0.0 pips (Raw) |
| Raw commission | US$3.50 per lot per side (international); US$3 per lot per side (EU) |
| Max leverage | Up to 1:500 (international); 1:30 (EU retail) |
| Platforms | MT4, MT5, cTrader, WebTrader; TradingView listed on some regional sites |
| Instruments | 800+ CFDs across seven asset classes, including 70+ forex pairs (EU site) |
Regulation and safety
FP Markets is a multi-entity group, and the entity you join makes a real difference. The top-tier licences are the following:
- ASIC (Australia): First Prudential Markets Pty Ltd holds AFS Licence No. 286354. ASIC’s own Report 828, published in January 2026, lists this entity among the CFD issuers covered by its sector-wide review. In December 2014, ASIC accepted an enforceable undertaking from the company over its processes for detecting potentially manipulative client trading. The company had to have an independent expert review its compliance controls.
- CySEC (Cyprus): First Prudential Markets Ltd holds CIF licence 371/18, granted on 19 November 2018 according to the CySEC register. It operates fpmarkets.eu and serves EEA clients. ESMA rules apply, including a 1:30 leverage cap for retail clients on major FX pairs. The EU site says 74.51% of retail investor accounts lose money when trading CFDs with this provider.
The group also holds licences from the FSCA in South Africa (FP Markets (Pty) Ltd, FSP 50926) and the Capital Markets Authority in Kenya (FP Markets Limited, a non-dealing online forex broker, licence 193).
Clients outside these regions should pay close attention. First Prudential Markets Limited is listed on the Seychelles FSA register under the trade name FP Markets. FP Markets’ own documents give its licence number as SD130. The Seychelles FSA is an offshore regulator. In addition, the current client agreement linked from fpmarkets.com (January 2026) names FP Markets Ltd, registered in Saint Lucia (no. 2025-00853), as the contracting company. That document does not name a regulator or licence for the Saint Lucia entity. In practice, many international clients get offshore-level protection rather than ASIC or CySEC protection. The agreement does commit to holding client money in segregated accounts. Read the agreement shown at sign-up, and ask support which entity holds your account.
Fees and spreads
FP Markets offers two main pricing models. Figures are as of November 2026 and may change:
| Account | Spreads | Commission | Leverage |
|---|---|---|---|
| Standard / Classic | From 1.0 pips | None | Up to 1:500 (intl.); 1:30 (EU retail) |
| Raw | From 0.0 pips | US$3.50 per lot per side (intl.); US$3 per lot per side (EU) | Up to 1:500 (intl.); 1:30 (EU retail) |
On a round-turn trade of one standard lot, the Raw account therefore costs about US$7 in commission on international accounts, or US$6 in the EU, plus the raw spread. Overnight positions are charged swap. The Saint Lucia client agreement also includes a monthly inactivity fee of US$10 (or equivalent) once an account has had no trading, deposits, withdrawals or logins for 90 days. FP Markets does not charge deposit fees, but your bank or payment provider may.
Accounts and products
The two-account structure is simple. The Standard account puts all costs into the spread and suits occasional traders. The Raw account is designed for scalpers, high-volume traders and algorithmic strategies. On the EU site, the Raw account also includes share CFDs, while the Standard account covers forex, metals, indices, commodities and crypto CFDs. Both accounts allow expert advisors and VPS hosting, and the minimum trade size is 0.01 lot. Demo accounts are available, and you can open up to 10 live or demo accounts under one client profile. FP Markets has a dedicated Islamic trading accounts section on its main site, but we could not open that page to confirm the current terms.
Platforms and tools
Platform choice is one of FP Markets’ strengths. You can trade on MetaTrader 4, MetaTrader 5, cTrader and a browser-based WebTrader, on desktop, tablet and mobile. The Kenyan site also lists TradingView, a mobile trading app and social trading. Wikipedia reports that the broker announced its TradingView partnership in 2024. Not every platform is available through every entity, so check the platform list on your regional site.
Deposits and withdrawals
The help centre says there is no platform-wide minimum deposit, although individual payment methods may have their own limits. Listed funding options include international credit and debit cards, bank wire, Skrill, Neteller and cryptocurrency, plus regional methods such as UnionPay and Alipay. FP Markets says it does not charge deposit fees. The client agreement says withdrawal fees may apply as shown on the website. Available methods vary by country, and the client portal shows which ones you can use.
Who FP Markets suits, and who should avoid it
- Good fit: cost-focused forex traders, scalpers and EA users who want raw spreads; traders who want MT4, MT5 and cTrader under one broker; Australian and EU residents, who are served by top-tier regulated entities.
- Think twice: international traders who expect ASIC- or CySEC-level protection, because they are usually onboarded through offshore group companies; beginners who may be tempted by 1:500 leverage. Leveraged CFDs carry a high risk of fast losses, and losses can exceed what you expect if you over-leverage.
Final verdict
FP Markets has about two decades of history, has been licensed by ASIC since 2005 and has a CySEC licence since 2018. Its Raw pricing and platform range compare well with other low-cost brokers. Its main weakness is that the strong regulatory headline does not cover every client. If you are outside Australia, the EU, South Africa or Kenya, you will probably deal with a Seychelles- or Saint Lucia-based entity, with weaker oversight and no top-tier compensation scheme. If you accept that and keep leverage modest, FP Markets is a capable, low-cost broker for active traders.
FAQ
Is FP Markets regulated?
Yes. FP Markets entities hold licences from ASIC in Australia (AFSL 286354), CySEC in Cyprus (CIF 371/18), the FSCA in South Africa and the CMA in Kenya. The group also has an offshore Seychelles FSA licence and a Saint Lucia company used for international clients, so your protection depends on which entity opens your account.
What is the minimum deposit at FP Markets?
FP Markets’ help centre says the platform does not set a minimum deposit, but individual payment methods can have their own minimum limits. Check the deposit screen in the client portal for your region.
How much commission does the FP Markets Raw account charge?
As of November 2026, the international help centre lists US$3.50 per lot per side on the Raw account, with spreads from 0.0 pips. The CySEC-regulated EU site lists US$3 per lot per side.
What leverage does FP Markets offer?
International accounts are listed with leverage of up to 1:500. EU retail clients of the CySEC entity are capped at 1:30. High leverage increases losses as well as gains.
Which platforms can I use with FP Markets?
FP Markets offers MetaTrader 4, MetaTrader 5, cTrader and WebTrader. Some regional sites also list TradingView, a mobile app and social trading. Availability depends on the entity and the account type.
Facts checked on 8 November 2026 against the official website and regulator registers. Fees and conditions change; confirm on the official site before opening an account.