FP Markets Broker Review

Written by Emmanuel Ifeanyi

Emmanuel Ifeanyi

Emmanuel Ifeanyi Ekwomadu is a financial content writer specialised in Forex, Stock and Crypto trading. He is the person behind most of the brokers reviews that you will find on BestBrokers.com

, | Updated: June 12, 2025

FP Markets is an online financial services provider bent on ensuring seamless trading in multiple financial instruments across different asset classes. The broker provides traders with a range of intuitive trading platforms available on desktop and mobile devices.

In the current review, we will look closely into the essential aspects of FP Markets you should consider when deciding whether to trade with this broker. FP Markets has been reviewed by 8,601 Trustpilot users, giving the broker an Excellent score of 4.9/5 as of mid-June 2025. As many as 94% of all clients gave the broker a score of 5 stars, and only 2% of reviewers rated it with 1 star.

Key Pros and Cons

To start with, here are the key pros and cons of trading with FP Markets.

Company Information

FP Markets is an online CFD broker launched in 2005, with its headquarters in Australia. The broker provides traders with seamless access to multiple financial assets like forex, equities, indices, commodities, futures, and cryptocurrencies, tradable through several intuitive platforms. Its clients benefit from competitive trading conditions, including low spreads, fast order execution, no strategy restrictions, raw pricing, and more.

The broker has offices in various countries, including Australia (Sydney), Cyprus (Limassol), and Saint Vincent and the Grenadines (Kingstown). The FP Markets Group comprises the following entities with their respective registered offices:

1. First Prudential Markets PTY Ltd, regulated by the Australian Securities and Investments Commission, with registered offices at Level 5, Exchange House 10 Bridge Street, Sydney NSW 2000, Australia
2. First Prudential Markets Ltd, regulated by the Cyprus Securities and Exchange Commission, with an office address at Griva Digeni, 109, Aigeo Court, 2nd floor, 3101, Limassol, Cyprus.
3. First Prudential Markets LLC, registered in Saint Vincent and the Grenadines, with offices located at 1st floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines.

With over 40 industry awards for exceptional customer service and order execution, FP Markets is undoubtedly one of the top online brokers operating at the moment.

While FP Markets serves a global clientele, it does not accept registration applications from residents of countries like the US, Japan, or New Zealand, where its services violate local laws and regulations.

Why Trade with FP Markets?

Now, let us provide a short list of the key features of FP Markets we like.

Regulation

FP Markets is a reputable online financial services provider, regulated in different jurisdictions.

In Australia, where its headquarters are located, the broker is regulated by the Australian Securities and Investments Commission (ASIC), a top-tier financial regulator.

The operations of FP Markets also comply with EU regulations, as the broker carries a license from the Cyprus Securities and Exchange Commission (CySEC).

FP Markets’ services other regions across Africa, Asia, and Latin America under a corporate entity registered in St. Vincent & the Grenadines.

A breakdown of the company’s licenses is presented below.

As an established brokerage firm regulated by ASIC and CySEC, FP Markets operates in strict compliance with online trading regulations. It adheres to the minimum capital requirements of its regulators to ensure timely payouts to clients, while implementing rigorous internal procedures for staff hiring, financial reporting, external audit schedules, and risk management.

FP Markets is committed to ensuring that retail client funds are kept separate from the company’s capital and are held in accounts at reputable banks. As a result, regardless of the circumstances, client funds will not be used to cover the broker’s operating expenses. If FP Markets becomes insolvent, client funds will remain intact.

Overall, we can say that the regulation of FP Markets’ activities is robust and the company is not questionable.

KYC Procedure for Account Creation and Depositing

It takes an estimated time of three minutes to open a live trading account with FP Markets. However, you will be required to upload various KYC documents for account verification, which can take a day or more.

To start the account application process, simply go to the broker’s website and scroll to the top-right corner; click on the “Open Live” button, and then follow these steps:

1. Personal Contact Details: Fill in your name, email address, gender, preferred account type, country of residence, and telephone number. Alternatively, you can sign up with your Facebook or Google account logins.
2. Further Information: Fill in your date of birth, passport number or national ID number, and address. The broker requires secific financial information such as annual income, size of wealth, expected deposit amount in the next 12 months, etc.
3. Choose a Password: You are required to choose a strong password to ensure the security of your trading account. A strong password should contain various characters, including letters, numbers, and symbols.
4. Choose Your Trading Platform: FP Markets offers various advanced trading platforms, such as MT4, MT5, and IRESS.
5. Eligibility Assessment: This is a suitability test, where you will be asked to provide information about your trading knowledge and experience.
6. Check the Relevant Box: By checking the relevant box, you declare that you have read and agree with all the legal documentation of FP Markets, including Terms and Conditions, Order Execution Policy, Privacy Policy, and Risk Disclosure Notice.
7. Upload Other KYC Documents for Verification: You are required to upload some ID documents, such as a passport, national ID card, or driver’s license, as well as proof of residency (a utility bill or bank account statement), to complete your account verification process.

After completing the entire account opening process, including uploading the relevant KYC documents, you must wait for the broker to approve your account. This review is done within one business day. Once your trading account with FP Markets is approved, you must fund it using one of the payment methods provided by the broker. Once your account is funded, you can start trading immediately. The minimum deposit required to start trading at FP Markets is $50.

Account Types

FP Markets offers various account options to allow traders to choose the one that best suits their individual objectives and capital. The available account types include the following:

• Forex Account Types (MT4/MT5/cTrader)
• IRESS Accounts
• Islamic Account
• Demo Account

Islamic Account

FP Markets offers a swap-free Islamic account best suited to Muslim clients, looking to trade in compliance with the Sharia law. There are no swaps or interest rates on overnight positions. The account holder incurs administrative fees on overnight positions, deducted from their available balance.

The swap-free account option is available on both the Raw and Standard accounts for the MT4 and MT5 but interest-free trading is impossible via IRESS accounts for the time being. The essential features of Islamic accounts at FP Markets include:

• Zero interest/swap charges on selected pairs
• Access to stable, secure, and intuitive leading trading platforms with no requotes or hidden charges
• Fast order execution under 40 milliseconds
• Free and unlimited access to the MetaTrader 4 and MetaTrader 5 platforms, including their browser-based, iOS, and Android versions
• Compatible with a variety of trading strategies, including scalping, swing, and day trading

Demo Account

FP Markets offers a demo account intended for free practice. Before opening a live account, novice traders can use the demo to test the broker’s platform and the available trading instruments. More experienced traders can utilize this type of account to safely test their strategies before applying them in the real-world trading environment.

Trading Fees and Other Costs

Every online broker charges trading fees. It is important to pay attention to these charges so they do not drastically reduce your profits. That is why it is safer to choose brokerage firms with lower trading fees. As with any other CFD and forex broker, when trading with FP Markets, you should be aware of two main types of fees:

• Trading Fees – spreads, commissions, and overnight financing rates
• Non-Trading Fees – account management, deposit, withdrawal, and inactivity fees

Below is a breakdown of the trading fees charged by FP Markets:

Spreads

Spreads are the difference between the bid price and the ask price. The bid price is the price at which you can sell the base currency, and the ask price is the price at which you can buy the base currency.

FP Markets offers tight spreads and fast order execution. The broker sources its liquidity from top international financial institutions, which enables it to offer forex spreads as low as 0.0 pips on Raw accounts and 1.0 pip on Standard accounts.

Let us take a look at the average spreads on both account types:

FP Markets adds a nominal markup of around 1 pip to the average spreads on Standard accounts to cover its trading costs.

Let us now compare the forex spreads on the two account types by using an example, where we have a position equal to 1 lot in EUR/USD (a price movement of 1 pip equals $10). We assume that the position is opened and closed at the same price. By using the average spreads, the trading costs for the two accounts will be:

1. Standard Account
   • Spread – 1.2 pips
   • TOTAL COST – 1.2 x $10 = $12 per side or $24 roundturn
2. Raw Spread Account
   • Spread – 0.1 pips
   • Spread Cost – 0.1 x $10 = $1 per side
   • Commission – $3 per side
   • TOTAL COST – ($1 x 2) + ($3 x 2) = $8

As it turns out, it is cheaper to trade with a Raw account than with a Standard one.

Here is how the average spreads for major forex pairs traded via Standard accounts at FP Markets compare to those offered by other brokerages.

When it comes to average spreads, trading with a Standard account at FP Markets appears to be rather costly compared to the broker’s closest competitors.

Commissions

For Raw accounts, FP Markets charges a commission of $3 per 1 standard lot, per side, and $6 in both directions (upon opening and closing a position).

This means that:

• When trading 1 standard lot (100,000 base currency units), you will pay a $3 commission to open the position and another $3.00 to close it.
• When trading 1 mini lot (10,000 base currency units), you will pay a $0.60 commission to open and close the position, or $0.30 each way.
• When trading 1 micro lot (1,000 base currency units), you will pay a $0.06 commission to open and close the position.

A $6 commission per standard lot is quite fair since many other leading brokerages charge higher commissions. For example, IC Markets charges $7 per standard lot. However, some competitors like Fusion Markets offer considerably lower roundturn commissions of $4.50.

Financing Charges

The swap charges in forex (also known as rollover or interest rates) are the net interest return that a trader accumulates on a currency position held overnight. This charge is incurred when a person borrows one currency to buy another in forex trading.

To calculate your expenses, you should subtract the interest rate of the base currency from the interest rate of the quote currency. Then, divide that amount by 365 times the base exchange rate. Alternatively, you can use a forex rollover calculator to determine the cost of your overnight positions. Simply select the instrument you are trading, your account currency, and the size of your trade.

Below are FP Markets’ swap rates on some major currency pairs.

Deposit Fees

The broker does not charge any fees for depositing – for more details, see Deposit Methods.

Withdrawal fees

FP Markets does not charge for withdrawal processing, but you may be charged by the payment services provider involved in the transfer (an intermediary bank, receiving bank, or your credit card provider). International bank transfer withdrawals incur internal fees of A$10 – for more details, see Withdrawal Methods

Inactivity fees

FP Markets does not impose an inactivity fee for longer period of account dormancy. This is not a common practice as many large brokerages do penalize their customers for inactivity. FP Markets deserves the top mark in this regard.

Overall on Fees

FP Markets offers competitive trading commissions and spreads on Raw accounts, but Standard accounts have relatively high spreads. There are no non-trading costs (apart from the fees on international bank transfers), which is a huge plus.

We cannot give FP Markets the top mark on fees because its spreads are higher than those of other big names in the industry. Its trading commission is neither the lowest nor the highest out there but it is still fair.

Desktop Trading Platforms

At FP Markets, all trading activities are carried out using the following trading platforms: MetaTrader 4, MetaTrader 5, and IRESS.

MetaTrader 4

The broker provides traders with the MT4 platform. This advanced trading software was launched in 2005 and is considered superior by forex and CFD traders alike. The MT4 platform is designed for trading multiple financial assets. Some of its essential features include:

1. Pre-Installed Indicators: MT4 is replete with various indicators. The platform provides access to 60+ technical indicators relating to trends, oscillators, and volume. Traders can identify trends with the help of indicators like Bollinger Bands and moving averages.
2. Fully Customizable Charts: The platform allows traders to customize charts according to their trading strategies or market volatility. You can customize the layout to suit your trading setup and use trading signals to notify you of specific market conditions.
3. Profiles and Chart Templates: MetaTrader 4 recognizes that traders rely on varied strategies for different financial markets. To account for this, it allows traders to create separate profiles and easily switch between them. This is particularly useful for those who trade different asset classes or employ multiple trading strategies.
4. One-Click Trading: This feature enables traders to capitalize on trading opportunities. Time is a critical factor in the financial markets, and the ability to trade directly off charts with a single click is valuable. Placing orders, locking in profits, and setting stop losses can be achieved without any compromise.
5. Automated Trading: Algorithmic trading (also known as automated trading) is one of the major features of the MetaTrader 4 platform. It allows you to develop, test, and apply Expert Advisors (EAs) and trading scripts. FP Markets’ tight raw spreads and zero trading restrictions help provide the ideal environment for automated trading. Traders can also access AutoTrade, a state-of-the-art copy trading system.
6. Access to MetaTrader Marketplace and MQL4 Community: The MT4 trading platform is available as a desktop application for Windows and Mac computers, a WebTrader that runs directly in modern web browsers without requiring installation, and a mobile app designed for devices running on Android and iOS.

MetaTrader 5

MT5 is the enhanced version of its predecessor, MT4. It was launched in 2010 by MetaQuotes. It has all of the essential features of MT4, plus the following additional functionalities:

1. Multi-Asset Trading Platform: While MT4 is explicitly designed for forex trading, MT5 is a multi-asset platform that can accommodate trades across multiple asset classes, including exchange-traded instruments and futures. You can also manage multiple MT5 accounts simultaneously.
2. Algorithmic and Automated Trading: The MT5 platform excels in this area, boasting sophisticated automated trading capabilities. The platform takes algorithmic trading to another level as it enables users to create different trading robots and use them simultaneously. This is beneficial to those who wish to run different trading strategies across alternate asset classes to capitalize on all trading opportunities 24 hours a day.
3. Real-Time Market News & Analysis: The MT5 platform includes an in-built Economic Calendar which features real-time financial news.
4. Risk Management: The improved version features a plethora of risk management tools, including more pending order types. Combining multiple stop-order options with the advanced Depth of Market (DOM) feature enables traders to implement various risk management strategies.

IRESS

IRESS is an innovative trading platform with a fluid and intuitive design that supports multi-product execution and provides access to level 2 exchange data. The platform displays current prices streamed directly from the underlying exchange and has your orders placed into the exchange order book at the click of a button.

It supports all order types, including complex orders used for custom strategies. It has transparent pricing and market depth with access to over 10,000 products. There are customized real-time trade and news alerts available directly on the platform or via email or text message. This enables you to stay up to date with the latest market news and pricing. The IRESS trading platform is available as a desktop application for Windows and Mac computers, a WebTrader that runs directly in modern web browsers (Chrome, Safari, Firefox, and Edge), and a mobile app compatible with Android and iOS devices.

Copy Trading with FP Markets

FP Markets Copy Trading allows you to find, follow, and copy successful traders automatically. With this feature, there is no need to build a trading strategy or research the forex markets. Copy trading eliminates the complexities of trading CFDs and forex. You can choose to become a signal provider or a copier. At FP Markets, the feature is available via the MetaTrader suite of platforms.

The copy trading system ranks traders based on their profitability over a given period, allowing you to easily find and follow the most successful traders. There are multiple copy trading modes, with no restrictions on the number of signal providers you can copy. Users maintain control even when copying others as they can activate or deactivate copy trading with a single click.

Forex VPS

A VPS (Virtual Private Server) is an essential tool that allows you to run trading platforms on a virtual machine 24/7. FP Markets has partnered with Liquidity Connect (LiquidityConnect.com) to provide a free customized, low-latency solution for qualified traders who meet the minimum monthly trading volume requirements of 10+ lots on Standard accounts or 20 lots on Raw accounts.

The FP Markets Edition VPS seamlessly connects traders to the Equinix NY4 grid using the latest innovative technology. Interestingly, you can access your VPS anywhere via a Remote Desktop Connection (RDP) or a mobile platform. Thus, it lets you run trading platforms around the clock. This can save you from having to keep your computer switched on all the time to run an automated system.

Mobile Trading Platforms

All three trading platforms at FP Markets (MT4, MT5, and IRESS) have mobile versions, allowing customers to access the full functionalities of the desktop software on their handheld devices.

The mobile trading platforms have an intuitive interface that is easy to navigate. They bring all the functionalities of the desktop versions to the smaller screens of smartphones and tablets. Available for download on Google Play and the App Store, the mobile apps allow you to place orders and check your positions on the go, as long as you have internet access.

Trading Instruments

FP Markets provides traders with a good selection of financial instruments across different asset classes, including forex, equities, indices, commodities, futures, and cryptocurrencies. The broker’s product lineup is quite rich compared to rivals like OANDA and Fusion Markets.

Let us now take a closer look at the product list.

Forex

FP Markets provides a good selection of 70 minor, major, and exotic currency pairs, available 24 hours a day, 5 days a week. Leverage goes up to 1:500 for professional and non-EU retail traders and 1:30 for EU retail traders, with spreads starting from 0 pips.

All major currency pairs include the US dollar (USD) either as the base or the quote currency. Examples include GBP/USD, EUR/USD, and USD/JPY. The broker works with some of the world’s largest liquidity providers to give clients access to greater liquidity and industry-leading spreads on its Raw accounts with ECN order execution. In addition, the transparent price feeds ensure fast and reliable order execution.

Stock CFDs

FP Markets offers over 10,000 Australian and international stock CFDs, alongside CFDs on indices from 4 continents. The broker allows clients to trade stock CFDs on the world’s most famous companies and equity index CFDs across global markets and benefit from price movements in any direction.

The stock CFDs at FP Markets come from a range of global markets, including London, Hong Kong, Paris, Frankfurt, Madrid, Amsterdam, and New York (NYSE & Nasdaq), and cover various sectors, including pharmaceuticals, aviation, tourism, and Big Tech.

Metals

FP Markets allows trading metals like gold and silver, against the USD and AUD at spot prices with 1:20 maximum leverage. You can start trading metals on FP Markets as soon as you create an account. The broker gives you exposure to the global precious metal markets via trading gold and silver CFDs.

Commodities

FP Markets is renowned for offering an optimal commodity trading experience as it allows traders to choose from various commodity products. When you choose to trade commodity CFDs with FP Markets, you get access to commodity prices worldwide with lightning-fast execution speeds, low slippage, deep liquidity, and tight spreads.

At FP Markets, you can trade CFDs on various hard and soft commodities, including crude oil, natural gas, heating oil, gasoline, wheat, rice, corn, soybeans, and coffee. You have access to leverage of up to 1:10 if you are a retail trader resident of the EU and 1:500 if you are a professional trader or a non-EU resident.

Indices

FP Markets provides exposure to global indices through contracts for difference (CFDs), such as NASDAQ 100, S&P 500, DOW 30, FTSE 100, DAX 30, and more. You can also trade index futures CFDs from across the world with margins starting from 1% only. You can access the AUS200 cash index, where each point of price fluctuation represents AU$1.

Cryptocurrencies

At this CFD broker, you can access the cryptocurrency market and trade the most popular cryptocurrencies. The crypto broker offers CFDs on major digital assets like Bitcoin, XRP (Ripple), Bitcoin Cash, Litecoin and Ethereum, tradable against the USD and AUD.

Futures Trading

FP Markets allows customers to trade CFDs on various futures contracts. These are derivative financial instruments that enable the contractual parties to buy or sell an asset at a predetermined future date and price. FP Markets offers futures for commodities, indices, and currencies.

Trade Execution

FP Markets operates using an STP/ECN execution model, which provides access to interbank pricing. Since the STP model involves no paperwork and requires little human intervention, errors are mostly eliminated, dramatically lowering operational costs and risk.

As a broker offering ECN pricing, FP Markets streams its prices directly from its liquidity providers. The broker tries to satisfy the demand for deep liquidity and ensure the highest levels of price transparency, coupled with ultra-fast execution and minimal slippage. By connecting to multiple liquidity providers, brokers like FP Markets can deliver ultra-low latency and minimal slippage. With the ECN model, orders are matched and executed at significantly better prices. This works extremely well for forex traders relying on strategies like scalping with Expert Advisors (EAs), as it further accelerates the execution speed.

For exchange-traded products, such as stocks, the broker offers DMA pricing and execution exclusively through its IRESS platform. The company provides live market prices, full market depth, and direct access to the exchange order book, ensuring 100% of client orders can be hedged in the underlying market. In addition, clients have access to leverage, short selling, and competitive commissions.

Deposits

FP Markets allows traders to deposit funds into their live accounts using any of the following payment methods: credit and debit cards, e-wallets like Neteller, Skrill, and PayPal, online banking, and bank transfers.

The time required to process transactions varies, depending on the payment method you use.

Withdrawal Methods

FP Markets requires all clients to send their withdrawal requests from within the Secure Client Area.

The broker does not charge any additional fees for withdrawals (except for the A$10 fee imposed on international bank transfers), which we consider a definite advantage.

Withdrawals via debit or credit cards may take between 3 and 5 business days to clear, while international bank transfers may take up to 14 days, depending on your jurisdiction and the receiving bank. Withdrawals via e-wallets like PayPal, Skrill, or Neteller usually clear within 1 business day.

Customer Support Contacts

FP Markets works with a competent support team consisting of knowledgeable and responsive agents. The support team is available 24/7 and can be reached via any of the following contact channels:

1. Live Chat – This is the fastest and most convenient way to contact a representative of the brokerage. It can be accessed via the Live Chat button on the website and facilitates real-time responses.
2. Telephone Line – The broker’s support team can be contacted over the phone only during local business hours, depending on the office location:
   • Limassol – +357 25 056 926
   • Fax: +357 25 589 201
3. Email – The broker provides traders with several email contacts for various inquiries:
   • Account Opening: onboardingdesk@fpmarkets.eu
   • Customer Support: supportdesk@fpmarkets.eu
   • Funding & Withdrawals: backofficedesk@fpmarkets.eu
   • Compliance: compliancedesk@fpmarkets.eu
   • Complaints: complaints@fpmarkets.eu
   • Trading Activity related: riskdesk@fpmarkets.eu
4. FAQs – There is a comprehensive FAQ section on the broker’s website, providing answers to some of the clients’ most common questions.

Research and Educational Materials

The broker apparently understands that educational resources help customers make more informed trading decisions. As a result, FP Markets provides a good selection of research and learning materials on its website. Here are some of the available educational resources and market analysis tools you can anticipate to find here:

1. Autochartist: FP Markets enables traders to easily download the Autochartist MT4/MT5 plugin. This is an advanced technical analysis tool that enables users to identify trading opportunities in real-time. In addition, it provides real-time trade setups for beginner and experienced traders alike.

   Some of the key Autochartist features include trading signals delivered via email, mobile applications with push notifications within the client area, or on the MT4/MT5 platforms. The tool helps traders save time by continuously scanning the market for potential trading opportunities. It has quality visual indicators that help amateur traders interpret chart patterns.

2. Trading Glossary: This contains various trading terms, along with their detailed explanations.
3. Traders Hub: The Traders Hub is replete with diverse educational content. It features various technical and fundamental analyses from the broker’s team of industry experts.
4. Company News: This keeps traders up to date with the latest happenings in the financial markets.
5. Video Tutorials: There is a good selection of comprehensive video tutorials focused on all aspects of using the MetaTrader 4, MetaTrader 5, and IRESS platforms.

Security and Money Guarantees

It is important to ensure you trade only with a well-regulated brokerage firm. You should also consider the security and the money guarantees provided by your online broker.

FP Markets is authorized and regulated by the Australian Securities and Investment Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). This strict regulation means the broker must comply with stringent rules and regulations, which gives clients peace of mind, knowing they are using a trusted and reputable broker that operates with utmost integrity and transparency.

Client funds are held in segregated accounts at top-tier banks, separately from the company’s funds to ensure they cannot be used for any other purpose. The broker offers negative balance protection.

Conclusion

To wrap things up, the detailed review of FP Markets conducted by out expert team revealed that the broker is a good option for traders at all levels, including those looking to copy more seasoned traders. The broker is regulated by ASIC and CySEC and is also registered in Saint Vincent and the Grenadines, but does not provide licensing information for this jurisdiction. Some of the essential features of the broker include:

1. Deep interbank liquidity and competitive raw pricing
2. Exceptional ECN order execution with no dealing desk intervention and no requotes
3. No deposit fees and multiple account funding options
4. MetaTrader and IRESS platforms
5. A good range of useful trading tools
6. Several learning resources
7. Responsive 24/7 customer support
8. Multiple account types

Written by E. Ifeanyi