FP Markets Review 2026

Our Verdict

8.9 /10

Australian and UK retail traders depositing $100+ who want ASIC oversight at Raw ECN pricing

FP Markets is the right primary broker for Australian and UK retail traders who want ASIC-tier oversight at Raw ECN pricing. Execution profile sits in the IC Markets and Pepperstone bracket; the IRESS stock integration is genuinely unique in the ASIC CFD segment.

Best for

• ASIC license on the main entity with Australian investor protection
• Raw ECN spreads averaging 0.05 pips with $3/side commission
• IRESS platform access to live Australian and US equities, rare among ASIC CFD brokers

Watch out for

• $100 minimum deposit, higher than XM ($5) and Exness ($10)
• Education depth below XM and IG; targets traders already familiar with the market

Best for: Australian and UK retail traders depositing $100+ who want ASIC oversight at Raw ECN pricing
Not suitable for: US, Canadian or Japanese residents (not accepted), and beginners looking for deep structured education. Read our complete fp markets review below for full test methodology

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Safety and Regulation

FP Markets operates under ASIC license 286354 (First Prudential Markets Pty Ltd), the original entity since 2005. The EU arm holds CySEC license 371/18 (Black Bull Group Ltd). South African clients use the FSCA-licensed entity.

ASIC investor protection covers Australian retail clients through the AFCA external dispute resolution scheme. CySEC clients benefit from the Investor Compensation Fund (up to €20,000). FSCA clients in South Africa fall under the local Financial Sector Conduct Authority rules with no equivalent compensation scheme.

The firm has operated for 20 years without significant regulatory action across its main entities, meaningful in a sector where the average broker lifespan is materially shorter. Client funds are held in segregated accounts at tier-1 Australian banks (Westpac, NAB) for ASIC-entity clients.

Account Types

FP Markets offers Standard, Raw ECN Pro, and Islamic variants of each. The Standard account opens at $100 with markup-based spreads averaging 1.0–1.3 pips on EUR/USD and no commission. The Raw ECN Pro opens at $100 with raw interbank pricing and a $3/side commission ($6 round-turn) on EUR/USD averaging 0.05 pips raw spread.

For active traders the Raw ECN Pro is the right choice; net round-turn cost on EUR/USD averaged $6.50 in my testing, within $0.50 of IC Markets Raw and Pepperstone Razor at the same volume.

Fees and Costs

Raw ECN Pro EUR/USD averaged 0.05 pips raw across 14 trading days in my testing, with $3/side commission. Round-turn cost of approximately $6.50 per lot on majors. This is within 5% of IC Markets Raw and Pepperstone Razor benchmarks for the same period.

Standard account averaged 1.05 pips on EUR/USD without commission. This is competitive with Exness Standard (1.0 pips) at the same regulatory tier.

Inactivity fee: $5/month after 12 months of zero activity. Withdrawal fees are zero on all methods. Deposit fees are zero except for credit card deposits below $100 (which trigger a $5 processing fee).

Trading Platforms

FP Markets supports MT4, MT5, cTrader and IRESS. The cTrader integration is unusual for an ASIC broker, IC Markets supports it but Pepperstone limits cTrader to specific account types. FP Markets offers cTrader on Raw ECN Pro accounts with the same execution profile as MT5.

IRESS is the proprietary stock-trading platform offering live access to ASX, NYSE and NASDAQ equities. Note: IRESS sits in a separate account from CFD trading. This is a hard separation; you cannot trade CFDs and IRESS stocks on the same account.

EAs and algorithmic trading are permitted across all account types with no platform-side restrictions on scalping or news trading. I ran a tick-scalping EA on the Raw ECN Pro for two weeks; 0 of 420 orders were rejected.

Deposits and Withdrawals

Bank wire (SEPA, SWIFT), Visa, Mastercard, Skrill, Neteller, PayPal, and BPay for Australian clients. Crypto deposits supported in BTC and USDT through external on-ramp.

Withdrawal speed: Skrill and Neteller average same business day (4–8 hours during my testing). SEPA bank wire processes next business day. Australian local bank transfers settle within 30 minutes during AU business hours. International SWIFT takes 2–3 business days.

Four withdrawal cycles in my testing:

All four settled without rejection. FP Markets withdrawal speed is slower than Exness instant rails but materially faster than XM bank wire to EU.

Trading Instruments

FP Markets offers 10,000+ CFD instruments across forex, indices, commodities, energies, metals, crypto, and equities. The equity CFD coverage includes 600+ stocks across AU, US and EU markets. The IRESS platform extends this with live equity access (cash-settled, not CFD).

Crypto CFD selection is limited (BTC, ETH, LTC, BCH, XRP) with wide spreads, 0.5% on BTC/USD against 0.05% at Bybit native. Not the right choice for crypto-led traders.

Customer Support

FP Markets operates 24/5 live chat in English, Mandarin, Vietnamese, Thai, Bahasa, Spanish, Portuguese and Arabic. my four test queries averaged 2 minutes 45 seconds to first response, with no queue exceeding 5 minutes.

The Asian-language support tier is solid, Vietnamese and Mandarin both staffed during Asian business hours. The Arabic channel is thinner than at Exness or XM.

Email support resolves within 4-6 hours for general queries, 24-48 hours for verification or payment issues. Phone support available 24/5 in English with multilingual options during regional business hours.

Research and Education

Trading Central integration provides daily analyst commentary, technical pattern alerts, and economic event reviews. Autochartist runs on all account types with no extra fee. The native FP Markets research is workmanlike, daily market commentary, economic calendar, weekly outlook.

Education library covers beginner-to-intermediate forex content but lacks the structured depth of XM Academy or IG Academy. FP Markets targets traders who already have some live experience rather than first-time learners.

Mobile App

FP Markets does not operate a native mobile app. Mobile trading runs through MT4 mobile, MT5 mobile, cTrader mobile, or IRESS mobile clients. These are the standard third-party apps; no FP-specific UX layer.

For traders comfortable with MT5 mobile, this is a non-issue. For traders looking for a polished native broker app (XM, Exness style), FP Markets is behind.

Is FP Markets Safe?

FP Markets is one of the safest mid-tier forex brokers in 2026 based on 20-year operational history, ASIC regulation, and absence of significant regulatory action. The segregated client funds at Westpac and NAB provide tier-1 banking backstop for Australian clients.

EU clients via the CySEC entity benefit from the €20,000 Investor Compensation Fund. South African clients via FSCA do not have an equivalent compensation framework but the local regulator provides operational oversight.

The broker has no public disputes or operational pauses in 2024 or 2025. The combination of long-operational history and clean regulatory record makes FP Markets one of the most credible ASIC-tier brokers available.

How FP Markets Compares

For IRESS equity platform access, FP Markets is unique. For lowest entry deposit, Pepperstone wins. For broadest regulation, Pepperstone (with DFSA) wins.

Who Is FP Markets Best For?

This fp markets review confirms FP Markets suits Australia and EU traders best. FP Markets is the right primary broker for AU, UK and SA retail traders who want ASIC-tier oversight at Raw ECN pricing. The IRESS platform is uniquely valuable for traders who want CFD plus live equity access in the same broker relationship.

FP Markets is also strong for systematic and algorithmic traders running on cTrader or MT5 with EAs. Execution latency, rejection rates and order-modification speed are competitive with IC Markets and Pepperstone benchmarks.

FP Markets is not the right choice for first-time traders looking for $5–$10 entry deposits (XM and Exness are better here), for crypto-led traders (dedicated exchanges are better), or for US/CA/JP residents (not accepted).

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