FP Markets review

Risk warning: CFDs are complex leveraged products. Leverage can magnify losses as well as gains, and you may lose money rapidly.

FP Markets may suit active forex and CFD traders choosing between Standard’s spread-only pricing and Raw’s lower starting spread plus commission. Its platform range includes MT4, MT5, cTrader and TradingView, subject to account availability. Raw’s starting spread alone does not establish a lower total cost: the commission, trade size and spread at execution all count. The other key limitation is product structure: listed share and crypto markets are CFDs, not direct holdings. The entity serving a client also determines applicable leverage and protections; the regulatory section explains the distinctions.

How we reviewed it: This review assesses the available account, fee, regulatory, platform, market and funding details, distinguishing stated terms from measured outcomes. See our review methodology.

FP Markets operates through separate group entities, and the contracting company determines which protections apply. First Prudential Markets Pty Ltd is listed under ASIC authorisation 286354 for Australian clients; First Prudential Markets Ltd holds CySEC licence 371/18 for eligible EEA clients; and FP Markets (Pty) Ltd is listed under FSCA licence 50926. These authorisations do not remove trading risk.

Regulation and Client Protections

Segregation is not an insolvency guarantee, while negative balance protection does not prevent losses from market movements; both depend on the applicable terms and client status. Cyprus ICF compensation covers qualifying claims, not trading losses. South African clients should establish whether FP Markets (Pty) Ltd is their CFD provider or an intermediary referring them to another group entity.

Standard quotes spreads from 1.0 pip with no FX commission; Raw quotes floating spreads from 0.0 pips and charges $3 per side per standard lot for forex and metals. These are starting spreads, not a promise of the spread available when a trade is placed. To compare the models, include the spread at execution and the Raw commission for the trade size, as well as any overnight financing if you hold positions.

Spreads, Commissions and Total Trading Costs

Outside forex and metals, the cost structure changes by product: stock CFD commissions depend on the market, with the stated Iress starting rate at 0.11%, while crypto, index and commodity CFDs are typically commission-free, with costs built into the spread.

Other Trading and Non-Trading Fees

Rollover financing is a separate, variable holding cost: depending on the position, it may be charged or credited. FP Markets lists no broker deposit, withdrawal, inactivity or currency-conversion fee, though external bank or provider charges may still apply.

Standard suits traders who prefer to avoid a separate forex commission; its quoted spread starts at 1.0 pip, and the minimum deposit is $100. Raw also requires $100 and may suit traders willing to pay $3 per side per standard lot on forex and metals in exchange for a lower starting spread. Neither is automatically cheaper: the actual spread and trade size determine the comparison. Standard lists MT4, MT5 and cTrader, while Raw also lists TradingView. IRESS accounts, with a $1,000 minimum, are described for share CFDs and DMA trading.

The platform choice affects where analysis and execution take place. MT4 and MT5 support desktop-based automated strategies, while cTrader offers cBots; TradingView can chart and generate alerts, but an external system is needed to turn those alerts into live trades. Because availability differs by account, select the account and platform together rather than assuming the full lineup is available on every account.

Desktop, Web and Trading Platforms

FP Markets also lists a proprietary mobile app and social copy-trading platform.

These markets provide price exposure through leveraged forex and derivatives, not direct holdings of the underlying assets. A CFD tracks a market price but does not convey ownership: stock CFDs confer no shares or voting rights, ETF CFDs no fund units, crypto CFDs no coins, and bond derivatives no bonds or coupon payments. UK retail clients cannot trade the listed crypto derivatives, and available products and leverage depend on market, jurisdiction and account. Some positions may also incur overnight financing.

For market preparation, FP Markets lists research, trading ideas, an economic calendar, sentiment, Market Buzz and technical analysis; the Academy adds video courses, platform guides, a glossary and multilingual live webinars. Its social trading service and supported third-party options allow copy trading, with provider performance information and allocation settings available to followers. Signal providers may set performance fees from 0% to 50%; subscribers have no registration or maintenance fee under the stated terms. VPS hosting is also listed, with free eligibility tied to monthly volume: 10 standard lots on Standard or 20 lots on Raw. Rapid price changes or limited liquidity can produce better or worse execution than requested, so a stop order may not fill at its requested price.

Deposits and withdrawals are listed through bank transfer, cards, e-wallets and crypto. The method options have different processing estimates, and the stated card, bank-transfer and some e-wallet timings are specific to Australia rather than guaranteed arrival times for every client.

Account Opening and Identity Verification

Live-account activation requires KYC and anti-money-laundering checks. FP Markets lists proof of identity, such as a passport, national ID card or driver's licence, and proof of address, such as a utility bill or bank statement issued within the previous six months. An applicant’s residence and registration route determine the entity serving the account.

Deposit and Withdrawal Methods

Customer Support

Support is listed as available 24/7 through chat, email, phone, callback service and a help centre. Listed support languages include Arabic, Dutch, French, German, Greek, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Mandarin Chinese, Polish, Portuguese, Russian, Spanish, Thai and Vietnamese.

The practical choice for an active forex trader is between Standard’s no-FX-commission structure and Raw’s lower starting spread with a per-side commission; the cheaper option depends on the actual trade. The account and platform lineup matters too, since TradingView is listed for Raw but not Standard. For investors, the more decisive distinction is that the listed stock, ETF and crypto products are CFDs rather than direct holdings.

FP Markets vs Alternatives

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• Lower commission

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For a trader who needs TradingView, the Raw account is the listed route; for one prioritising no separate FX commission, Standard is the alternative. That platform-pricing trade-off is more specific than choosing on the spread alone.