FP Markets Overall rating

	Rating	Weight
User Rating	4.5 (42 reviews)	3
Popularity	4.5	3
Regulation	5.0	2
Pricing rating	4.8	1
Features	Not rated	1
Customer Support	Not rated	1

We tested FP Markets using real-money live accounts. Our reviews are unique in that they do not have any bias for or against any broker and are driven purely on the underlying data we compile from live account testing, regulatory data, and opinions from customers. We list all brokers and do not charge a fee for it. We offer additional visibility for a fee, but our review content cannot be influenced. Read our About Us page to read our editorial guidelines and how we make money.

Trustworthiness & Regulation

FP Markets, founded in 2005, has established itself as a reputable broker in the forex industry. It is regulated by several prominent regulatory bodies including the CY CySEC, Australia AU ASIC, Mauritius MU FSC, South Africa ZA FSCA, and Seychelles SC FSA. User reviews are predominantly positive, with a rating of 4.4 out of 5 based on 39 reviews, 35 of which are from verified real trading accounts.

It ranks highly in user ratings, being 19th out of 1102 forex brokers and 8th based on expert ratings. With a popularity rating of 4.5 out of 5 and over 700,000 organic monthly visits, FP Markets demonstrates strong user engagement and trustworthiness. However, it’s essential to note that even highly regulated and successful financial firms can encounter challenges.

Company	Licenses & Regulations	Segregated Client Money	Deposit Compensation Scheme	Negative Balance Protection	Rebates	Max. Leverage Retail Clients
First Prudential Markets PTY Ltd	Australia - AU ASIC				Professional Clients Only	30 : 1
First Prudential Markets Ltd	Cyprus - CY CYSEC		up to €20,000			30 : 1
FP Markets Ltd	Mauritius - MU FSC					500 : 1
FP Markets (Pty) Ltd	South Africa - ZA FSCA					500 : 1
First Prudential Markets Limited	Seychelles - SC FSA					500 : 1
FP Markets LLC Saint Vincent and the Grenadines						500 : 1

Deposit Insurance

FP Markets offers deposit insurance and investor compensation scheme under the Cyprus CY CySEC regulation. This compensation protects investors if the broker fails.

However, this insurance is not available in other jurisdictions like Australia, Mauritius, South Africa, Seychelles, and Saint Vincent & Grenadines. Segregated client funds are maintained across all regulatory frameworks, ensuring that client funds are kept separate from the company's operating capital, which adds a layer of security for investors.

Spreads and Costs

FP Markets offers competitive spreads and costs, particularly in the forex asset class. Compared to industry-leading brokers, FP Markets' average forex spreads are competitive, while its average spreads for crypto, indices, and commodities are generally in line with the market.

Combined Spread/Commission Costs by Asset Class Compared to Market Leading Brokers

Crypto averages comprise (BTCUSD, ETHUSD), forex averages comprise (EURUSD, USDJPY, GBPJPY, EURGBP, AUDNZD, CADCHF), indices averages comprise (US30, AUS200), and commodities average comprises (XAUUSD, XAGUSD) and that data is sampled every 10 seconds for 24 hours to calculate the average. Forex is stated in pips, and the others are stated in base currency. All spreads including both spread and commission calculated in.

Our data comes from our sophisticated spread analyzer tool, which collects live account information and syncs with our performance analytics system. To compare all brokers and instruments with the latest live data, visit our spread analyzer tool. A spread is the difference between the bid (sell) and ask (buy) price of an asset and can vary widely between brokers and account types.

Some brokers charge higher spreads but no commission, while others charge both, making it crucial to assess the total cost, which includes both spread and commission. Our values reflect this all-in cost. Note that some brokers may set low costs on popular pairs like EURUSD but higher rates on other instruments.

Many brokers also advertise "as low as" spreads that may not reflect the true average or include commissions. Comparing true all-in cost averages across various instruments and asset classes is vital for accurate assessment.

Combined Spread/Commission Costs Per Instrument Compared to Market Leading Brokers

Swap Rates/Financing Fees

Swap rates, also known as financing fees, are the costs or earnings associated with holding a trading position overnight. Positive swap rates pay out to the trader, while negative swap rates are costs.

When comparing FP Markets' average swap rates to industry-leading brokers, FP Markets has competitive rates. The average swap rate for FP Markets is moderate, indicating that their costs are reasonable but not the lowest available.

Does FP Markets Offer Islamic/Swap-free Accounts?

Islamic trading accounts, also known as swap-free accounts, are designed to comply with Sharia law, which prohibits the accrual of interest. FP Markets offers Islamic accounts to traders who follow Islamic principles.

These accounts do not incur or earn swap or rollover interest on overnight positions. Instead, FP Markets charges an administration fee on specific trades. To qualify for an Islamic account, traders must provide proof of their faith, and the account is available on the MT4, MT5, and Iress platforms.

Other Fees

In addition to spreads, commissions, and swap rates, FP Markets charges various other fees. These include:

FP Markets does not charge inactivity fees or account maintenance fees, which is beneficial for traders who may not be active at all times. Withdrawal fees are also reasonable, particularly for Australian bank withdrawals which are free.

Comparison to other Brokers

When compared to other industry-leading brokers like IC Markets, Exness, HFM, RoboForex, FBS, and Vantage Markets, FP Markets stands out for its regulatory coverage and user reviews. While it offers competitive spreads, especially in forex, its swap rates are moderate.

FP Markets also benefits from high popularity and significant web traffic. However, it does not offer an investor compensation scheme in several jurisdictions, and it is not publicly traded. Nonetheless, its long-standing presence since 2005 and high user ratings make it a reliable choice among its peers.

Trading Platforms - Mobile, Desktop, Automated

FP Markets provides a robust range of trading platforms including cTrader, MetaTrader 4, MetaTrader 5, and TradingView. These platforms are compatible with desktop, mobile, and web devices, ensuring flexibility for traders. Automated trading is supported across all platforms, utilizing various programming languages. cTrader uses C# (C-Sharp), which is known for its efficiency and power.

MetaTrader 4 and 5 use MQL4 and MQL5 respectively, offering strong community support and extensive resources. TradingView uses Pine Script, which is relatively easy to learn and is integrated directly into its web-based platform. Each platform offers advanced charting capabilities, allowing traders to perform technical analysis with a range of indicators and drawing tools.

What Can you Trade?

FP Markets offers a diverse range of tradable instruments across various asset classes. Traders can access over 70 forex pairs, 6+ cryptocurrencies, more than 10,000 stock CFDs, 19 stock index CFDs, 7+ commodities, and 3 bond CFDs. While ETFs and futures CFDs are not available, the extensive offering in other categories provides ample opportunities for diversification.

FP Markets focuses on CFD trading, which involves trading on the price movements of assets without owning the underlying asset. This allows for leverage, which can magnify both gains and losses. It's important for traders to understand the risks and benefits of trading CFDs compared to owning actual assets. For a detailed list of available instruments, visit FP Markets' official website.

Available Leverage

FP Markets offers varying leverage depending on the regulatory jurisdiction and the type of instrument. Under the Cyprus CY CySEC and Australia ASIC regulations, the maximum leverage for retail clients is 30:1. In Mauritius, South Africa, and Seychelles, FP Markets offers higher leverage up to 500:1 for certain instruments.

Leverage allows traders to control larger positions with a smaller amount of capital, but it also increases the potential risk and reward. It's crucial for traders to use leverage wisely and understand the implications of high leverage on their trading strategy.

Prohibited Countries

FP Markets cannot accept clients from certain countries due to regulatory restrictions. These countries include Afghanistan, Cuba, Islamic Republic of Iran, Iraq, Liberia, Libya, Myanmar, Palestine, Russian Federation, Somalia, Syrian Arab Republic, Sudan, Yemen, United States and to jurisdictions on the FATF and EU/UN sanctions lists. Traders from these countries should seek brokers that are licensed to operate within their jurisdictions.

FP Markets Account types

	Standard	Raw
Commission	-	USD $3.00 Per Side Per Lot
Maximum leverage	500:1
Mobile Platform	cTrader Mobile, MT4 Mobile, MT5 Mobile
Trading platform	cTrader, MT4, MT5, WebTrader
Spread Type	Variable Spread
Minimum Deposit	100
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	Standard
Maximum leverage	500:1
Typical Spread	1.19
Trading platform	cTraderMT4MT5WebTrader
Mobile platform	cTrader MobileMT4 MobileMT5 Mobile
Spread type	Variable Spread
Minimum deposit	100
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	Raw
Commission	USD $3.00 Per Side Per Lot
Maximum leverage	500:1
Typical Spread	0.09
Trading platform	cTraderMT4MT5WebTrader
Mobile platform	cTrader MobileMT4 MobileMT5 Mobile
Spread type	Variable Spread
Minimum deposit	100
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

FP Markets Web traffic

Our web traffic data is sourced from SimilarWeb and sums the traffic data of all websites associated with a broker. Organic visits are visits the broker didn't pay for, based on the available data. This data updates once monthly and can be based on data purchased from internet service providers, traffic metrics sourced by a third party such as Google Analytics that the company chooses to share with SimilarWeb, etc.

FP Markets Profile

24 hour support

Segregated Accounts

Islamic Accounts

Accepts Canadian clients

Accepts Japanese Clients

Non expiring demo

Trading API

Cent accounts

Negative balance protection

Social trading

Regulatory deposit insurance

Trailing stops

Bonuses

Interest on margin

Fixed spread

Variable spread