FP Markets Review 2025

Trust

FP Markets Regulators

In our reviews, we examine the regulatory status of each entity operated by a broker. This allows us to compare the different levels of client protection. We rank regulators using a three-tier system, where Tier-1 licensing reflects the highest level of regulation.

Here are my findings on the various entities of FP Markets:

• First Prudential Markets PTY Ltd is licensed and regulated by the Australian Securities and Investments Commission (ASIC). ASIC ranks as a Tier-1 regulator in our system.
• First Prudential Markets Ltd is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). CySEC ranks as a Tier-1 regulator in our system.
• FP Markets (Pty) Ltd is licensed and regulated by the South Africa Financial Sector Conduct Authority (FSCA). FSCA ranks as a Tier-2 regulator in our system.
• FP Markets Ltd is licensed and regulated by the Mauritius Financial Services Commission (FSC). FSC ranks as a Tier-1 regulator in our system.
• FP Markets Limited is licensed by the Capital Markets Authority of Kenya (CMA). The Kenya CMA ranks as a Tier-2 regulator in our system.
• First Prudential Markets Limited is authorized and regulated by the Financial Services Authority (FSA) in Seychelles with License Number SD130. The Seychelles FSA ranks as a Tier-3 regulator in our system.
• FP Markets LLC is registered with the St. Vincent & the Grenadines Financial Services Authority (FSA). We rate FP Markets LLC as unregulated.

Understanding the Regulatory Protections of Your Account

Brokers operate multiple entities to serve clients globally, yet regulatory protections vary by jurisdiction. Some regulators enforce strict financial standards, while others are more lenient. Traders should understand the protection offered by the entity where they intend to open an account.

• Segregation of client funds. Keeping client funds in segregated bank accounts from the ones used for the broker’s corporate capital negates the risk of accounting errors. All FP Markets entities ensure this.
• Negative balance protection. This safety mechanism removes the risk of trading losses exceeding the account balance. In other words, the losses you incur from trading are capped at the amount you have put in your trading account. This is especially important in volatile markets. All FP Markets entities provide negative balance protection.
• Compensation scheme. A compensation scheme protects retail traders against the broker’s liabilities in the unlikely event that the company becomes insolvent. Only clients of FP Markets’ EU entity benefit from a compensation scheme.
• Maximum leverage. Capping the maximum leverage restricts the extent of market exposure to retail traders. The higher the leverage, the higher the potential profits and potential losses. The highest leverage of 1:500 is available at the offshore entities of FP Markets.

Stability and Transparency

In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on the broker’s operating history, size, and overall transparency.

FP Markets was founded in 2005, making it a well-established CFD broker. According to its LinkedIn page, the company is headquartered in Sydney, Australia, and has 201-500 employees.

In my evaluation, FP Markets showed a positive level of transparency in its regulatory status, which is covered on the Regulation page.

The website breaks down spreads and commissions clearly on the Forex Spreads page. Traders can find the Terms and Conditions on the Legal Documents page.

Is FP Markets Safe to Trade With?

To conclude, my findings indicate that FP Markets can be regarded as having a solid level of trust and stability due to the following factors:

• Regulated by multiple top-tier regulators
• 20 years of operating history
• All entities segregate client funds
• All entities offer negative balance protection
• Overall transparent broker

Fees

FP Markets Trading Fees

FP Markets Spreads

I tested the spreads at FP Markets during the London open and just after the New York open on 27 January 2025. At these times, the market is typically highly liquid with the tightest spreads.

In addition to spreads, FP Markets charges commissions on share CFDs traded via MT5 on both Standard and Raw accounts.

FP Markets Swap Fees

In the table below, you can see the Swap Long (the cost/credit of holding a buy position overnight) and the Swap Short (the cost/credit of maintaining a sell position overnight) for one full-sized contract.

A full-sized contract is 100,000 units of the base currency (the first currency quoted in the pair). I recorded the data on 27 January 2025.

The values listed below are for one full contract (100,000 units) of the base currency.

My tests showed that swap fees at FP Markets are average for the industry.

FP Markets Non-Trading Fees

FP Markets does not charge any fees for deposits, withdrawals, or account inactivity.

Are FP Markets Fees Competitive?

I rate the fees at FP Markets as competitive overall for the following reasons:

• Better than average spreads in most instruments
• No account-related fees
• No inactivity fee or deposit/withdrawal fees
• Average swap fees

Platform and Tools

MetaTrader 4 Desktop

FP Markets offers the MetaTrader 4 for desktops, which includes advanced functions such as automated trading.

MetaTrader 4 is available in 39 languages, from Arabic to Vietnamese. The platform provides popular features, including the following:

• Alerts: This feature updates traders when an instrument reaches a specific price level.
• Watchlists: Traders can create a list of their favorite instruments and follow live quotes in a market watch panel.
• One-Click Trading: This feature allows traders to execute orders with a single click and no secondary confirmation. This feature enables traders to operate faster and is especially useful for short-term traders.
• Trading from the Chart: MT4 also allows users the convenience of trading directly from the chart.

MetaTrader also delivers when it comes to the range of available order types. The platform offers these order types:

• Market Order: Traders use market orders to buy or sell an instrument at the best current price.
• Limit Order: Traders use limit orders to buy or sell an instrument at a specified price or better.
• Stop Loss Order: Traders use stop-loss orders to buy or sell an instrument when its price reaches a specified level.
• Trailing Stop Order: Traders use trailing stop-loss orders as a stop-loss order at a defined percentage or dollar amount away from an instrument’s current market price. This order type allows traders to secure profits when they are in a winning trade while not having to exit the position.

MT4 charting features are robust and include:

• 30 Technical Indicators: These include classic trend indicators, volume indicators, and oscillators.
• 23 Analytical Objects: These include lines, channels, Gann, and Fibonacci tools.
• 9 Time Frames: Traders can choose from nine time frames, from one minute to one month.
• 3 Chart Types: Traders can use Bar Charts, Japanese Candlestick Charts, and Line Charts.

MetaTrader is also popular due to its automated trading features, allowing users to develop, test, and apply Expert Advisors (EAs). EAs are programs that monitor and trade markets using algorithms. While being the most feature-rich and popular trading platform, MetaTrader 4 does not have a slick interface and requires some time and effort to learn.

MetaTrader 4 WebTrader

The MetaTrader 4 Web Platform (WebTrader) is a stripped-down version of the desktop platform. It allows users to trade directly from any browser and operating system without any additional software.

Popular features include:

• One-click trading
• Trading from the chart
• Watchlists with real-time quotes
• Trade history
• Advanced charting with 30 indicators for technical analysis.

MetaTrader 4 Mobile App

FP Markets offers the MetaTrader 4 app for mobile trading, which is available for Android and iOS. The app offers popular features such as alerts, 1-click trading, and trading from the chart.

The MT4 app also provides standard order types, including pending and stop orders. However, trailing stop-loss orders are only available from the desktop.

To change the language of the MT4 app, you must change the language for your entire phone.

As with the desktop and web platforms, the interface is not highly intuitive, but the MT4 app offers an above-average range of features.

MetaTrader 4: My Key Takeaways

As one of the most popular trading platforms in the world and the only one offered by many forex brokers, I have spent a lot of time testing MT4. The platform’s look and feel are a bit dated, and I feel there is room for improvement in design and usability.

Still, MT4 is a highly versatile platform that outperforms many competitors. It offers advanced charting, a comprehensive range of order types, and popular features such as one-click trading, trading directly from charts, and customizable alerts.

Its desktop platform stands out with advanced features, including the ability to run and backtest automated strategies, making it a powerful tool for skilled traders. However, its steep learning curve means it is better suited for experienced traders rather than beginners.

TradingView

FP Markets clients can also trade directly from the feature-rich TradingView platform (either via the TradingView.com website or its desktop version).

Key elements include cutting-edge, highly customizable charts with over 100 indicators and 50 drawing tools, as well as a community of millions of like-minded traders and investors. I found that the active TradingView community is very helpful for users to draw inspiration from thanks to features like the ideas stream.

The range of available order types is above average. Market orders, limit orders, stop-loss orders, and trailing stop-loss orders are available. Traders also have the option to apply time-in-force conditions such as Good-Til-Canceled (GTC). The platform also features powerful tools like screeners for both shares and forex pairs, heatmaps, cloud-based trading alerts, and news feeds with stories from Reuters and Dow Jones.

The TradingView platform has the rare combination of being powerful in its functionality and intuitive with a well-designed interface, making it suitable for both beginners and experienced traders.

cTrader

cTrader is a platform with an intuitive interface that can cater to day traders, scalpers, and advanced/algorithmic traders. It is designed to replicate an institutional trading environment, with features like Level 2 DoM (Depth of Market). The depth of market feature shows incoming liquidity from liquidity providers.

cTrader offers one-click trading and trading from the chart. Another popular feature is price alerts. Market sentiment data indicates the percentage of client accounts that are long (buyers) or short (sellers). The information is collected from all available cTrader servers across multiple brokers.

Various order types are available, including market, limit, stop loss, stop limit, and trailing stop. Time-in-force conditions such as Good ‘Til Cancel (GTC) are available for pending orders.

With 26 time frames, 4 chart types, 76 indicators, and more than 10 drawing tools, charting via the cTrader desktop platform is robust. Additionally, a news feed and economic calendar are built into the platform.

cTrader supports automated trading and strategy backtesting through cBots—automated trading robots that execute strategies, similar to Expert Advisors (EAs) in MetaTrader. Overall, cTrader offers many of MetaTrader’s advanced features within a more modern, well-designed, and user-friendly interface.

FP Markets Order Execution Model

FP Markets executes client orders (or will instruct third parties to execute client orders) on the client’s behalf. FP Markets may take the opposite position in transactions with clients.

Tradable Instruments

FP Markets is above average in all major asset classes. The offering is especially strong in the areas of fx pairs and commodities. Note, however, that the majority of CFDs on shares are available via the Iress platform.

What are CFDs?

A Contract for Difference (CFD) is an agreement specifying that the buyer must pay the seller the difference between an asset’s current value and its value at the time the contract was initiated. Like futures and other derivative financial instruments, CFDs allow traders to speculate on price movements without owning the underlying asset.

What Can You Trade with FP Markets?

To better illustrate the range of instruments available at FP Markets, the following tables show samples from various asset classes:

FP Markets Instruments: My Key Takeaways

The range of tradable instruments at FP Markets is excellent. In addition to an above-average range of currency pairs, indices, commodities, and shares, I noted the availability of CFDs on bonds and ETFs, which are less commonly available. Forex traders have access to everything from major pairs like EUR/USD to exotic pairs like USD/ZMW (Zambian Kwacha).

Customer Support

FP Markets Customer Support Test

I tested FP Markets customer service with dozens of queries, ranging from platforms to fees and account-related issues.

Live chat support was consistently reliable, and I could always reach an operator within a minute or two. My email inquiries were also responded to quickly, within one business day. When using phone support, I experienced some long wait times.

I noted that agents were generally well-informed and polite. Support is available in 18 languages

Deposit and Withdrawal

FP Markets Deposit Methods

The range of deposit methods and speed of processing is better than average for the industry.

FP Markets Withdrawal Methods

Likewise for withdrawals, the range of methods, speed of processing, and absence of fees are better than the industry average. FP Markets earned a perfect score in this category. FP Markets does not apply any fees for deposits/withdrawals, however, in some case,s the payment providers may apply fees.

Account Types and Terms

FP Markets Account Opening Process

To open a CFD account with the Australian entity of FP Markets, prospective clients must complete an application covering the following parts:

• Contact and Personal Details: Name, email address, country of residence, date of birth, phone number, physical address, nationality, passport or driver’s license number.
• Employment Details: Employment status and occupation.
• Account Details: Trading platform, account type, and base currency.
• Level of Trading Experience: Volume of trading of forex and other markets in the past 3 years.
• Test of Market Knowledge: A series of questions relating to CFD trading.

Professional Accounts

Professional accounts at the Australian entity of FP Markets offer the following benefits:

• Maximum leverage of 1:500
• Personal account manager
• VIP program including rebates

To be eligible, traders must meet one of the two criteria options for either wealth OR experience:

Wealth

Experience

FP Markets Account Types and Their Benefits

MetaTrader Account Types

Standard and Raw MT4/MT5 accounts cater to beginners and advanced traders with low trading costs, a wide range of base currencies, and demo accounts.

Iress Account Types

The retail and professional Iress accounts cater to experienced traders with a professional-grade platform, DMA access, and a wider range of CFDs on shares available.

Demo Account

FP Markets’ clients can access free demo accounts via MT4, MT5, TradingView, and cTrader platforms. Demo accounts are especially important for beginners as they allow them to practice their strategies and get comfortable with the trading platform without risking real money. The demo account features live quotes and simulates live market conditions in assets like forex and CFDs on commodities, indices, and stocks. Once users are up to speed on a demo, they can easily switch to a live account.

Islamic Account

By request, FP Markets offers a swap-free account that adheres to the principles of Sharia law.

What is CFD Leverage?

One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage. Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account.

The ASIC maximum leverage for retail clients is 1:30. This means that with an account of $1,000, you can control up to $30,000 worth of positions in the market. Leverage is often described as a ‘double-edged sword’ as it can hurt you as much as it helps you. Traders should remember that it can amplify both their profits and their losses.

Available leverage differs according to the asset class, with the most leverage available for CFDs on forex and the least for CFDs on crypto.

FP Markets Restricted Countries

FP Markets accepts clients from most countries in the world, with the exceptions of Afghanistan, Cuba, Iraq, the Islamic Republic of Iran, Liberia, Libya, Myanmar, Palestine, the Russian Federation, Somalia, the Syrian Arab Republic, Sudan, Yemen, and the United States.

Research

FP Markets’ in-house analysts provide high-quality coverage of major market events like central bank meetings and major economic releases. These reports are a good source of ideas and help traders better understand market-moving news releases.

I appreciate that the analysis covers a wide range of markets, including cryptocurrencies. Traders Hub also features reports on technical themes, citing chart patterns and key support and resistance levels.

For live account holders, FP Markets offers award-winning content from Trading Central, which combines automated investment analytics and analyst research. Key features of Trading Central include:

• Analyst Views: This section covers trading ideas, technical updates, support/resistance levels, and ideas across forex, stocks, commodities, and indices.
• Featured Ideas: This lists opportunities and provides direction for your trades.
• Technical Insights: After choosing your preferred technical indicators, candle patterns, or oscillators, Trading Central scans the markets to find opportunities that match your criteria.

FP Markets also offers free trading signals from the third-party provider Autochartist. This tool automatically detects chart patterns and key price levels, helping traders anticipate potential market trends.

Traders can easily stay on top of upcoming economic releases via the economic calendar on the FP Markets website.

FP Markets Research: My Key Takeaways

FP Markets provides a decent combination of insightful fundamental and technical coverage from in-house analysts along with practical trading ideas from third-party Autochartist and Trading Central.

Education

The courses within the FP Markets Academy cover key concepts and terminology like pips, margin, swaps, and spreads. Traders can learn about the various order types and chart types. An introduction to classic technical indicators like MACD and RSI is also provided.

Lessons are practical and easy to digest. I liked that the material is available in both written and video formats.

The MetaTrader platforms are not very intuitive, so the MT4/MT5 tutorials are a great resource to draw from, especially for beginners. This video series covers everything from the basics, like how to download and log in to the platform, to more advanced topics, like VPS installation and activating EAs (expert advisors) for automated trading.

There are a few points to highlight where FP Markets could improve. The overall design and user experience of the education section feels a bit dated. The FP Markets’ podcast series has not been updated since 2022. At the time of this review, there was only one webinar scheduled and it was in Spanish. Also, I signed up via email for educational ebooks but never received them.

The Bottom Line

In the hyper-competitive world of CFD brokerage, FP Markets has emerged as a formidable player, carving out a niche for itself over two decades. The Australian broker has successfully positioned itself as a go-to platform for seasoned traders seeking premium trading conditions and resources.

FP Markets delivers low spreads, ultra-fast order execution from an NY4 server facility, advanced trading platforms, and minimal fees – without sacrificing customer support and high-quality research materials. The range of tradable instruments is also first-class.

My test results place FP Markets firmly in the above-average category, showing strength across multiple categories. This well-rounded performance underscores the broker’s commitment to meeting the diverse needs of beginners and experienced traders.

Nevertheless, FP Markets could improve in some areas. A proprietary web platform would add to its unique value proposition. I felt that the website was due for a design upgrade. The trust score was pulled lower due to having multiple offshore entities. Third-party account insurance for all clients would be a welcome addition, especially for those holding accounts at the offshore entity.

Overall, with its solid foundation, I rate FP Markets as well-positioned to continue its trajectory as a leading force in the world of CFD brokerage.

FAQ