FP Markets Review 2026
Australian CFD and forex broker founded in 2005. ASIC-regulated, spreads from 0.0 pips on the Raw account, and five platforms including MT4, MT5, cTrader, TradingView and Iress.
FP Markets Overview
The Australian ECN broker with the widest platform line-up
FP Markets has operated from Sydney since 2005 under First Prudential Markets Pty Ltd, regulated by ASIC (AFSL 286354), CySEC (335/17), and FSCA. It offers ECN execution on forex, DMA on CFDs, raw spreads from 0.0 pips, and five platforms: MT4, MT5, cTrader, TradingView, and Iress.
What sets FP Markets apart is the combination of Australian regulation, two decades of operation, and the deepest platform line-up in the local market. The Iress platform alone carries 10,000+ shares and 70+ forex pairs for Australian clients.
Deep DiveThe Australian ECN Broker With the Platform SpreadFP Markets is one of the longest-running Australian CFD and forex brokers, operating since 2005 from Sydney. It built its reputation on ECN pricing and MetaTrader support, then widened the moat with cTrader, TradingView, and the institutional Iress platform for local share traders.
The pricing story is the core of the pitch. The Raw account runs spreads from 0.0 pips with a flat $3 per lot per side commission, and live testing showed GBP/USD near 0.8 pips and Gold at 0.08 pips. That puts FP Markets in the same cost bracket as the sharpest ECN operators in Australia.
Platform choice is where FP Markets separates from the pack. Five platforms from one account: MetaTrader 4, MetaTrader 5, cTrader, TradingView, and Iress. Most brokers offer one or two. Iress, in particular, gives Australian clients institutional-grade access to 10,000+ global shares that few retail brokers can match.
The trade-offs are real. Standard account spreads trail the best ECN rivals, Iress is Australia-only and carries data fees, and MetaTrader caps out around 130 symbols. For active traders who want raw pricing and platform freedom, FP Markets is one of the strongest Australian options.
How to Get Started
Open Account
Apply online with ID verification. Choose between Standard, Raw, Islamic, or PAMM/MAM account types.
Fund Account
Minimum deposit of $100. Fund via bank transfer, card, Skrill, Neteller, POLi, or PayPal.
Start Trading
Pick your platform: MT4, MT5, cTrader, TradingView, or Iress. Raw account for scalpers, Standard for simpler cost.
Key Strengths
What sets FP Markets apart from the competition
Raw ECN Pricing
Spreads from 0.0 pips on the Raw account at $3 per lot per side. Observed GBP/USD near 0.8 pips and Gold at 0.08 pips in live conditions.
Five Trading Platforms
MetaTrader 4, MetaTrader 5, cTrader, TradingView, and Iress. Few brokers give you this much platform choice from one account.
ASIC-Regulated Since 2005
Holds ASIC AFSL 286354 in Australia, CySEC license 335/17 in Europe, and FSCA authorisation in South Africa. Australian retail clients get negative balance protection.
10,000+ Instruments on Iress
The Iress platform carries 10,000+ shares, 70+ forex pairs, indices, metals, and crypto CFDs. MT4 and MT5 offer around 130 symbols.
ECN and DMA Execution
Forex routes through ECN liquidity, CFDs through direct market access. Orders go to the market without a dealer in between.
Copy Trading and Research
Built-in copy trading on MT4 and MT5, plus Autochartist pattern alerts and Trading Central analysis in the client portal.
Deep DiveRaw Pricing, Platform Depth & Two Decades of Australian RegulationThe FP Markets proposition rests on three facts: ECN spreads from 0.0 pips, five platforms including an institutional Iress terminal, and continuous ASIC regulation since 2005. Each one is checkable, and each one holds up.
The Raw account pricing is genuinely sharp. At $3 per lot per side with spreads from 0.0 pips, a round turn on EUR/USD lands in the same range as the cheapest ECN brokers globally. For scalpers and day traders, the difference between 0.8 pips and 1.9 pips on a few dozen lots a day is real money.
Platform depth is the differentiator. MT4 and MT5 cover the MetaTrader crowd, cTrader brings depth of market, TradingView adds modern charting, and Iress opens 10,000+ shares to Australian clients. No other Australian broker runs this line-up from a single account.
Regulation is the quiet strength. ASIC AFSL 286354 has been in place since the early days, and the CySEC and FSCA licenses extend the reach. Australian retail clients get negative balance protection under the ASIC product intervention. Twenty years of continuous operation through market cycles is the track record that matters.
Fees & Spreads
Raw spreads from 0.0 pips on the Raw account, commission-free Standard
Raw vs Standard Account Pricing
FP Markets runs two main pricing models. Here is how they compare.
Active traders should take the Raw account and pay the commission. Occasional traders may prefer the simpler Standard model.
Deep DiveRaw Spreads From 0.0 Pips, But Read the Account TermsFP Markets pricing is excellent on the Raw account and merely average on Standard. The headline spread only tells half the story, so the account choice matters more than the broker choice.
On the Raw account, a round turn costs the spread plus $6 per lot total commission ($3 per side). In live conditions that produced GBP/USD around 0.8 pips and Gold at 0.08 pips. For an active day trader running multiple lots a day, that is among the cheapest execution available from an ASIC-regulated broker.
The Standard account flips the model: no commission, spreads from 1.0 pips, and observed GBP/USD around 1.9 pips. For a trader doing a handful of trades a month, the difference is negligible. For a scalper, it is the difference between profit and loss. The Raw account is the honest recommendation for anyone trading regularly.
The extras are modest: deposits are free on most methods, there is no inactivity fee on active accounts, and the main line item to watch is Iress data fees, which scale up on smaller balances. Compared with rivals, the total cost picture is competitive, provided you pick the right account.
Safety & Regulation
ASIC regulation since 2005 with negative balance protection for Australian clients See our rating methodology →
FSCA
South AfricaSegregated Client Funds
Client money held separately from company operating funds
ASIC AFSL 286354
Continuous Australian regulation since 2005
Negative Balance Protection
Mandatory for Australian retail CFD clients
Two Decades Operating
Founded 2005, through the GFC and COVID volatility
Deep DiveTier-1 Australian Regulation With a Multi-Entity StructureFP Markets safety rests on a solid ASIC foundation with a layered global structure. The Australian entity is the one that matters for local clients, and it has been regulated continuously since the early years of the company.
The Australian arm, First Prudential Markets Pty Ltd, holds ASIC AFSL 286354 with client funds held in segregated accounts. Australian retail clients get negative balance protection as part of the ASIC product intervention on CFDs, meaning your loss is capped at your deposit. That is a genuine safety feature, not a marketing line.
The European arm holds CySEC license 335/17 with ESMA-standard protections including EU negative balance protection and leverage caps. South African clients fall under FSCA authorisation. This layered structure gives FP Markets reach across regions, with the strongest protections concentrated in Australia and Europe.
The caveat is the offshore entities. Like many brokers, FP Markets operates international arms under lighter regulators, and clients routed through those entities get weaker protection. The straightforward advice: open with the Australian entity if you are local, and check which entity you are actually trading under before depositing.
Trading Platforms
Five platforms from one account: MT4, MT5, cTrader, TradingView and Iress
MetaTrader 4
4.5The ECN workhorse. Raw spreads, one-click execution, copy trading, VPS support, and the Trader's Toolbox plugin. Still the default choice for most FP Markets clients.
- ECN pricing
- Copy trading
- VPS support
- Trader's Toolbox
MetaTrader 5
4.5The newer MetaTrader with extra timeframes, more order types, and a better strategy tester. Hedge and net positions in the same account.
- Advanced charting
- More timeframes
- Hedging and netting
- Better tester
cTrader
4.0Fast execution and depth of market for active traders. Note: FP Markets does not offer cTrader Copy here, its own copy tool runs on MT4 and MT5 instead.
- Depth of market
- Fast execution
- Clean interface
- Automation via cAlgo
TradingView
4.0TradingView integration added to the platform line-up. Chart with TradingView tools and execute through your FP Markets account.
- TradingView charts
- Direct execution
- Community ideas
- Desktop and web
Iress
4.0Institutional-grade share trading for Australian clients only. Direct market access to 10,000+ global shares and 70+ forex pairs. Data fees apply on smaller balances.
- 10,000+ shares
- DMA execution
- Australia only
- Institutional depth
Deep DiveFive Platforms, One Account, Zero Lock-InFP Markets runs the widest platform line-up of any Australian CFD broker. Instead of pushing a proprietary terminal, it lets you pick the tool that fits, from the MetaTrader workhorses to the institutional Iress suite.
MetaTrader 4 remains the default for most clients, and FP Markets equips it properly: ECN pricing, one-click execution, VPS support, copy trading, and the Trader's Toolbox plugin. MetaTrader 5 adds newer charting, more timeframes, and a stronger strategy tester for those who have migrated.
cTrader brings depth of market and fast execution for traders who want a modern alternative to MetaTrader, though copy trading there is not supported. TradingView integration, added more recently, lets chart-first traders execute directly from TradingView charts.
Iress is the headline act for Australian clients: institutional-grade direct market access to 10,000+ global shares, 70+ forex pairs, indices, metals, and crypto CFDs. The catch is that it is Australia-only and data fees accumulate on smaller balances. Active share traders will find it worth the cost; occasional traders should stick with MetaTrader.
Account Types
Standard, Raw, Islamic, or PAMM/MAM accounts with a $100 minimum
Raw
ECN Pricing- SpreadFrom 0.0 pips
- Commission$3 per lot per side
- Min Deposit$100
- LeverageUp to 1:500
- ExecutionECN
- Best ForScalpers and day traders
The flagship account. Direct market pricing with spreads from 0.0 pips and a flat $3 per lot per side commission. Built for traders who care about the exact cost of a round turn.
Standard
Commission-Free- SpreadFrom 1.0 pips
- Commission$0
- Min Deposit$100
- LeverageUp to 1:500
- ExecutionECN
- Best ForCost-simple traders
No commission, wider spreads. Observed GBP/USD around 1.9 pips versus 0.8 pips on Raw. Fine for occasional traders, expensive for scalpers.
Islamic
Swap-Free- SpreadStandard account terms
- SwapNone
- Min Deposit$100
- LeverageUp to 1:500
- ShariaCompliant
- Best ForMuslim traders
Swap-free account for traders who follow Sharia law. No overnight interest on open positions, with the same spreads as the Standard account.
PAMM/MAM
Multi-Account- StructureMaster and client accounts
- AllocationProportional
- Min DepositManager-dependent
- LeverageUp to 1:500
- PlatformMT4
- Best ForMoney managers
Multi-account management for money managers running client funds. Trade one master account and allocations flow to client accounts proportionally.
Australian retail clients receive negative balance protection and a 1:30 leverage cap under ASIC rules. International clients can access up to 1:500.
FP Markets Pros & Cons
Balanced evaluation based on our research
- Pro: ASIC-regulated Australian broker founded in Sydney in 2005
- Pro: Raw account with spreads from 0.0 pips at $3 per lot per side
- Pro: Five platforms: MT4, MT5, cTrader, TradingView and Iress
- Pro: 10,000+ shares and 70+ forex pairs via Iress for Australian clients
- Pro: ECN execution on forex and DMA on CFDs
- Pro: Negative balance protection for Australian retail clients
- Pro: Copy trading plus Autochartist and Trading Central research
- Con: Standard account spreads trail the sharpest ECN rivals
- Con: Iress platform is Australia-only and data fees add up
- Con: MT4 and MT5 cap out around 130 symbols
- Con: Offshore entities muddy the safety story for international clients
- Con: No cTrader copy trading despite offering the platform
- Con: No proprietary trading platform of its own
FP Markets FAQ
Is FP Markets safe and regulated?
Yes. FP Markets holds ASIC AFSL 286354 in Australia (First Prudential Markets Pty Ltd), CySEC license 335/17 in Cyprus, and FSCA authorisation in South Africa. Client funds are held separately from company money, and Australian retail clients receive negative balance protection under ASIC's product intervention rules.
What is the minimum deposit for FP Markets?
The minimum deposit is $100 or the currency equivalent on both the Standard and Raw accounts. That is lower than comparable ECN brokers, several of which require $200 or more to open an account.
Is FP Markets good for Australian traders?
Yes. FP Markets is Australian-owned and Sydney-based, holds ASIC AFSL 286354, and offers the Iress platform that other brokers reserve for institutional clients. Australian traders get AUD funding, local support, and direct market access to 10,000+ global shares. It ranks among the best options in our guide to the best forex brokers in Australia.
What is the difference between the Standard and Raw accounts?
The Standard account is commission-free with floating spreads from 1.0 pips. The Raw account charges $3 per lot per side but opens spreads from 0.0 pips. In live conditions GBP/USD ran about 1.9 pips on Standard versus 0.8 pips on Raw. Active traders should take the Raw account and pay the commission.
What platforms does FP Markets offer?
Five: MetaTrader 4, MetaTrader 5, cTrader, TradingView, and Iress. Iress is exclusive to Australian clients and carries the deepest instrument range. MT4 and MT5 support copy trading, VPS, and the Trader's Toolbox plugin.
What leverage does FP Markets offer?
Up to 1:500 for international clients. Australian retail clients are capped at 1:30 under ASIC's product intervention order, which also brings negative balance protection. European clients face the ESMA cap of 1:30.
How much does FP Markets charge in fees?
Raw account: spreads from 0.0 pips plus $3 per lot per side. Standard account: spreads from 1.0 pips, no commission. Deposits are free on most methods. The main extra is Iress data fees, which can add up on smaller balances. No inactivity fee applies to active accounts.
Can I trade shares with FP Markets?
Yes. Australian clients get 10,000+ share CFDs on the Iress platform with direct market access. MetaTrader 4 and 5 are more limited at around 130 symbols, so share traders should factor in the Iress data fees.
Does FP Markets offer copy trading?
Yes. FP Markets has its own copy trading tool on MetaTrader 4 and MetaTrader 5, letting you follow other traders or be followed. Note that cTrader Copy is not supported, despite cTrader being one of the five platforms on offer.
Is FP Markets good for beginners?
Mixed. The Standard account keeps costs simple and the education section covers the basics, but FP Markets is built for active traders: ECN pricing, MetaTrader depth, and no hand-holding. Complete beginners are better served starting elsewhere, then moving to FP Markets once they trade regularly.
FP Markets Verdict
Best For
Not Ideal For
FP Markets is one of the most complete Australian CFD and forex brokers: raw ECN spreads from 0.0 pips, five platforms including the institutional Iress terminal, ASIC regulation since 2005, and negative balance protection for local clients. The Raw account is elite-level value for active traders. Standard account spreads trail rivals and Iress is Australia-only, but for traders who know what they want, FP Markets delivers.
Deep DiveFinal Assessment: Sharp ECN Pricing With a Platform for EveryoneFP Markets is one of the most complete Australian CFD and forex brokers: raw ECN pricing, five platforms, ASIC regulation, and a two-decade track record. It is not the cheapest on every metric and the platform depth comes with complexity, but for active traders it is hard to beat.
The verdict depends on the account and the trader. For the scalper or day trader who wants raw spreads and MetaTrader, the Raw account at 0.0 pips plus $3 per lot per side is elite-level pricing from an ASIC-regulated Australian broker. For the share trader, Iress opens 10,000+ instruments that most local rivals do not offer at all.
The weaknesses are specific, not structural. Standard account spreads trail the sharpest ECN rivals, Iress is Australia-only with data fees, and the offshore entities complicate the safety story for international clients. None of these affect the core Australian retail proposition.
The 4.1/5 rating reflects strong safety (4.5) and fees (4.4), solid platforms (4.0), and adequate research (3.8), balanced against average education and support. For Australian traders who know what they want and trade regularly, FP Markets delivers the raw pricing and platform choice to back it up.
Ready to trade raw spreads on MetaTrader?
$100 minimum deposit. ASIC and CySEC regulated. Spreads from 0.0 pips on the Raw account.
Open FP Markets Account →