FP Markets Review

Overview

FP Markets is a strong choice for active forex and CFD traders who want low Raw account pricing, MetaTrader 4, MetaTrader 5, cTrader or TradingView. Its main weaknesses are relatively limited research and education compared with leading brokers, plus the fact that client protection depends heavily on which FP Markets legal entity holds your account.

Our verdict is positive for experienced forex traders, scalpers and algorithmic traders. FP Markets is considerably less compelling for UK residents because the UK Financial Conduct Authority has an active warning stating that FP Markets and www.fpmarkets.com are not authorised by the FCA.

FP Markets has operated since 2005. Standard and Raw MT4/MT5 accounts currently require a minimum deposit of $100 or equivalent. Raw pricing starts from 0.0 pips with a $3 commission per side per standard lot on USD accounts, while Standard pricing starts from 1.0 pip without a separate forex commission.

FP Markets review: key facts

FP Markets' main selling point is the combination of Raw pricing and platform choice. The important qualification is that FP Markets is a brand operated through several legal entities. Check the company named in the account agreement before depositing money.

Is FP Markets safe and legitimate?

FP Markets is an established broker group with regulated operating entities, but protection is not the same for every client.

First Prudential Markets Pty Ltd holds Australian Financial Services Licence 286354 in Australia. First Prudential Markets Ltd holds CySEC licence 371/18 in Cyprus, and CySEC lists the company in its regulated investment-firm register. FP Markets also identifies regulated entities in South Africa and Seychelles.

An account with a regulated Australian or EU company does not provide the same legal or financial protections as an account opened through an offshore or international entity. The entity, regulator, client protections and permitted leverage can all vary.

Before funding an account, check the exact company named in the client agreement. Then verify that company and its licence with the relevant regulator.

FP Markets' 2026 CySEC settlement

On 4 February 2026, CySEC announced a €100,000 settlement with First Prudential Markets Ltd concerning a possible violation of CFD product-intervention restrictions.

The investigation covered compliance between March 2022 and August 2025. First Prudential Markets Ltd paid the €100,000 settlement.

The settlement did not remove the company's CySEC licence. CySEC's current register continues to list First Prudential Markets Ltd under licence 371/18. It is still a relevant point for retail CFD traders because it concerns the rules governing those products.

Is FP Markets regulated by the FCA?

No. FP Markets is not authorised by the UK Financial Conduct Authority.

The FCA published a warning on 11 October 2024 naming FP Markets and www.fpmarkets.com. According to the FCA, the firm may be providing or promoting financial services in the UK without permission. The FCA also warns that customers dealing with the named firm would not have Financial Ombudsman Service or Financial Services Compensation Scheme protection.

UK residents should therefore look for a broker authorised by the FCA rather than opening an account with FP Markets.

FP Markets fees: how much does trading actually cost?

FP Markets is competitively priced, particularly on its Raw account. The useful comparison is the total trading cost, not the headline “0.0 pips” marketing claim.

FP Markets offers two main pricing structures for MetaTrader forex accounts.

What does one lot of EUR/USD cost at FP Markets?

An indicative round-turn cost for one standard lot of EUR/USD on the Raw account is approximately $7.00 to $7.70, based on the published figures in this review.

Recent 2026 pricing observations put average EUR/USD Raw spreads at approximately 0.10 to 0.17 pips. A standard EUR/USD lot has an approximate pip value of $10, so the spread represents about $1.00 to $1.70.

The Raw commission adds $3 per side, or $6 for a complete round turn: For the Standard account, recent published EUR/USD averages of around 1.2 to 1.27 pips imply a cost of approximately $12.00 to $12.70 per standard lot round turn, with no separate forex commission.

These are illustrations based on published average spreads, not guaranteed costs. FP Markets uses variable spreads, so the actual charge changes with liquidity, market conditions, the instrument and the time of day.

The calculation explains why the Raw account is more suitable for traders who place substantial volume. Compare the spread and commission together rather than choosing an account based only on a "zero commission" or "0.0 pips" claim.

FP Markets Standard vs Raw account: which is better?

The FP Markets Raw account is the better fit for most active forex traders. The Standard account is easier to understand because the broker includes its charge in the spread.

Choose the Raw account if you scalp, day trade, run Expert Advisors or trade enough volume for dealing costs to matter. The separate commission can be worthwhile when the tighter spread reduces the overall cost.

Choose the Standard account if you trade less often and prefer not to calculate a separate commission for each trade.

Neither account guarantees better trading results. The difference is how the trading cost is charged.

Which trading platforms does FP Markets offer?

FP Markets has one of the stronger platform selections among forex-focused brokers, with MetaTrader 4, MetaTrader 5, cTrader and TradingView all available within its wider offering.

FP Markets also offers WebTrader, mobile access and Iress for relevant share-trading clients. Platform availability can vary by account type and jurisdiction.

The platform selection is particularly good for traders who already have an established workflow:

• MetaTrader 4: suitable for forex traders who rely on the large MT4 Expert Advisor and indicator ecosystem.
• MetaTrader 5: a more modern MetaTrader environment with additional timeframes, order functionality and multi-threaded strategy testing.
• cTrader: attractive to traders who prefer cTrader's interface, order management and algorithmic environment.
• TradingView: useful for traders who want TradingView charting and alerts while maintaining an FP Markets trading account.
• Iress: primarily relevant to traders seeking the broader share and Direct Market Access-oriented offering, particularly in Australia.

Platform choice is one of FP Markets' clearest advantages. Traders are not being forced into an obscure proprietary terminal simply to access competitive pricing.

How many markets can you trade with FP Markets?

FP Markets advertises more than 10,000 financial instruments, but traders should not assume all 10,000 are available through every platform.

The distinction matters.

FP Markets promotes 10,000+ instruments across its broader offering. However, ForexBrokers.com's 2026 review found that the very large instrument count is heavily associated with the Iress share-trading platform, while the MetaTrader offering contains a much smaller selection.

Depending on platform and jurisdiction, FP Markets provides access to markets including forex, share CFDs, indices, metals, commodities, bonds, ETFs and digital currencies.

For a forex trader, the headline 10,000+ number is therefore less important than whether FP Markets supports the currency pairs, indices, metals or other specific instruments actually being traded.

What is the FP Markets minimum deposit?

The current FP Markets minimum deposit for Standard and Raw MT4/MT5 accounts is $100 USD or equivalent.

FP Markets confirms the $100 requirement in its current trading FAQ. The broker supports multiple account funding currencies, including USD, EUR, GBP, AUD, CAD, CHF, JPY and others.

FP Markets states that it does not charge a fee for deposits. Bank, payment-provider or currency-conversion costs can still exist independently of a broker deposit fee.

Current 2026 source checks also report no inactivity fee on the core forex accounts, which is useful for traders who may leave an account dormant for extended periods.

Is FP Markets good for scalping and algorithmic trading?

Yes. FP Markets is particularly well suited to active, algorithmic and short-term forex traders.

The combination of Raw pricing, MetaTrader 4, MetaTrader 5 and cTrader makes FP Markets a natural fit for traders using Expert Advisors, cBots or other systematic strategies. FP Markets also offers VPS-related services and trading tools.

Independent 2026 broker analysis also awarded FP Markets strong marks for MetaTrader and algorithmic trading.

This is arguably a more defensible reason to choose FP Markets than its huge advertised instrument count. The broker's strongest proposition is concentrated around active forex and CFD execution, competitive Raw pricing and established third-party platforms.

Where does FP Markets fall short?

FP Markets' main weaknesses are not its forex pricing or platform selection.

The first weakness is regulatory complexity. “FP Markets is regulated” is technically true but incomplete. The group contains multiple legal entities, and the regulator, client protections and permitted leverage depend on the company that holds the account.

The FCA warning makes that particularly important for UK traders.

The second weakness is research and education. ForexBrokers.com's 2026 assessment found FP Markets' research and educational offering weaker than category leaders such as IG, although FP Markets has continued adding material and tools.

The third is that the 10,000+ instrument headline can be misleading if read without platform context. The full breadth of shares is not equivalent to having 10,000+ markets sitting inside the standard MT4 or MT5 account.

Finally, FP Markets is primarily compelling as a leveraged trading broker. Investors whose objective is simply to buy and hold unleveraged shares or ETFs may find a conventional stockbroker or investment platform better aligned with their needs.

FP Markets pros and cons

What we like about FP Markets

• Competitive Raw forex pricing with spreads advertised from 0.0 pips.
• $3 per side Raw commission on a USD-denominated standard lot.
• MT4, MT5, cTrader and TradingView support.
• $100 minimum deposit for the core Standard and Raw accounts.
• Strong fit for scalping, Expert Advisors and algorithmic strategies.
• Established operating history dating to 2005.
• Multiple regulated legal entities across several jurisdictions.

What to consider before opening an account

• Regulatory protection depends on the exact FP Markets entity holding the account.
• The FCA has an active warning naming FP Markets and fpmarkets.com for UK consumers.
• CySEC reached a €100,000 settlement with the Cyprus entity in February 2026 relating to possible breaches of CFD restrictions.
• Research and education are not as comprehensive as some category leaders.
• The 10,000+ instrument headline does not mean every platform provides access to that many markets.
• CFDs and leveraged forex trading carry a substantial risk of loss.

Who should use FP Markets?

FP Markets is best suited to an experienced forex or CFD trader who wants low dealing costs and access to MetaTrader, cTrader or TradingView.

Active traders, scalpers and algorithmic traders are the clearest audience. They can make better use of tighter Raw spreads and the broker's range of third-party platforms.

FP Markets is less suitable for investors who prioritise long-term unleveraged investing, extensive proprietary research or the highest level of local regulatory protection.

UK residents have an additional reason to consider another broker because of the FCA warning concerning FP Markets.

Is FP Markets good for beginners?

FP Markets can be used by beginners, but its main advantages are more useful to experienced traders.

A new trader can open a demo account, start with the Standard account and use familiar trading platforms. Raw pricing, algorithmic support and several professional trading platforms become more useful once trading activity becomes more advanced.

Beginners also need to understand the product risk. On the FP Markets EU entity, 74.56% of retail investor accounts lose money when trading CFDs with the provider, according to the current risk disclosure.

Is FP Markets available in the United States?

No. FP Markets states that it does not provide services to residents of the United States.

US traders need a broker authorised to offer the relevant products in the United States.

Does FP Markets support TradingView?

Yes. TradingView is part of the FP Markets platform offering. FP Markets also supports MetaTrader 4, MetaTrader 5 and cTrader. Confirm availability for the intended account type and jurisdiction before opening an account.

FP Markets review verdict

FP Markets is a good broker for active forex and CFD traders, particularly those looking for competitive Raw account pricing combined with MT4, MT5, cTrader or TradingView.

The Raw account is the standout. At $3 commission per side per standard lot and recent EUR/USD average spreads in roughly the 0.10 to 0.17 pip region, an indicative one-lot round-turn cost of approximately $7.00 to $7.70 is highly competitive.

The bigger decision is not whether FP Markets has enough platforms or whether its advertised spread starts at zero. It does.

The bigger decision is which FP Markets legal entity will hold your account and what protection that entity gives you.

For an eligible trader opening under an appropriate regulated entity, FP Markets is a strong option for active forex and CFD trading.

For a UK resident, we would look elsewhere because the FCA has explicitly warned that FP Markets is not authorised in the UK.

For everyone else, verify the legal entity, regulator, account conditions and current fee schedule before depositing.

CFDs are leveraged products and carry a high risk of rapid financial loss. This review is general information, not personalised investment advice.