FP Markets Review 2026

Overview

About FP Markets

First Prudential Markets, trading as FP Markets, was established in 2005 in Sydney, Australia. With nearly two decades of continuous operation, the broker has grown into one of the more established ECN/STP providers available to retail traders globally. The company is headquartered in Sydney and operates under strict Australian regulatory oversight, which has shaped its reputation for transparency and fund security.

FP Markets serves clients across more than 80 countries, offering access to over 10,000 tradeable instruments spanning forex, indices, commodities, equities, ETFs, and bonds. This breadth of market access places it firmly in the multi-asset category, distinguishing it from brokers that focus exclusively on forex.

The broker has built a strong following among cost-conscious retail and professional traders for several reasons:

• Institutional-grade spreads on its Raw account, with EUR/USD averaging 0.04 pips
• Direct market access through genuine ECN pricing with no dealing desk intervention
• Multiple platform options including MT4, MT5, cTrader, and the professional IRESS platform
• Leverage up to 1:500 for clients under certain regulatory conditions
• Deep liquidity sourced from Tier-1 banks and non-bank market makers

For MENA-region traders who prioritize tight spreads and execution quality over marketing incentives, FP Markets offers a credible and well-regulated environment. The broker's longevity in a competitive industry is itself a testament to the consistency of its service model.

Pros & Cons

Regulation & Safety

Regulatory Framework and Client Protections

FP Markets operates under dual regulation, holding licenses from two of the world's most respected financial regulators. This multi-jurisdictional oversight provides traders with a meaningful layer of legal and financial protection.

ASIC — Australian Securities and Investments Commission

FP Markets' primary license is held through First Prudential Markets Pty Ltd, regulated by ASIC under Australian Financial Services Licence number 286354. ASIC is widely regarded as one of the world's most rigorous financial regulators. Key client protections under ASIC oversight include:

• Segregated client funds held in top-tier Australian banks, entirely separate from the company's own operating capital
• Mandatory negative balance protection ensuring clients cannot lose more than their deposited funds
• Regular financial audits and reporting obligations to the regulator
• Strict capital adequacy requirements the broker must maintain at all times

CySEC — Cyprus Securities and Exchange Commission

FP Markets' European entity, FP Markets LLC, holds a CySEC license (number 371/18). CySEC regulation extends the broker's reach to European clients and adds an additional layer of credibility. Under CySEC, clients benefit from:

• Access to the Investor Compensation Fund (ICF), which covers eligible clients up to €20,000 in the event of broker insolvency
• Full compliance with MiFID II directives, including best execution policies
• Segregated funds held in EU-based financial institutions

For MENA traders, accounts are typically opened under the ASIC entity, providing the robust Australian regulatory framework. While there is no government-backed compensation scheme under ASIC equivalent to the ICF, the strict segregation of client funds and ASIC's enforcement record provide substantial practical protection.

Account Types

Account Types at FP Markets

FP Markets offers a focused range of trading accounts designed to serve different trader profiles, from beginners seeking simplicity to active traders demanding the tightest possible costs.

Standard Account

The Standard account is FP Markets' entry-level forex and CFD offering. It operates on an ECN model where the broker's commission is built into the spread rather than charged separately.

• Minimum deposit: $100
• Spreads: From 1.0 pip on EUR/USD (all-in, no additional commission)
• Commission: None — costs are embedded in the spread
• Best suited for: Newer traders, lower-volume traders, and those who prefer a straightforward cost structure without per-trade commissions
• Platforms: MT4, MT5

Raw Account

The Raw account is FP Markets' flagship offering for serious traders and is where the broker's competitive edge is most visible. This account passes raw interbank pricing directly to the client.

• Minimum deposit: $100
• Spreads: From 0.0 pips on EUR/USD (averaging 0.04 pips)
• Commission: AUD $3.50 per side (approximately USD $3.00 per side) per standard lot
• Round-turn commission: Approximately $6.00 total per standard lot traded
• Best suited for: Active traders, scalpers, algorithmic traders, and high-volume traders where the lower spread more than offsets the commission
• Platforms: MT4, MT5, cTrader

IRESS Account (Professional)

For traders seeking direct access to exchange-listed equities and a professional trading environment, FP Markets offers accounts on the IRESS platform. This is geared toward traders interested in Australian and international share trading with Level 2 market depth data.

• Minimum deposit: $1,000 (or AUD equivalent)
• Best suited for: Experienced equity traders and professionals requiring direct market access

FP Markets does not currently offer a dedicated Islamic swap-free account, which is an important consideration for Muslim traders in the MENA region.

Trading Platforms

Trading Platforms at FP Markets

FP Markets stands out in the retail broker space by offering four distinct trading platforms, catering to a wider range of trader preferences and strategies than most competitors.

MetaTrader 4 (MT4)

MT4 remains the most widely used retail forex platform globally and FP Markets' implementation is fully featured. Traders get access to 30 built-in technical indicators, nine timeframes, and robust support for Expert Advisors (EAs) and automated trading scripts. The platform's stability and familiarity make it the default choice for most retail traders. MT4 is available as a desktop client for Windows and Mac, a web-based terminal, and mobile apps for iOS and Android.

MetaTrader 5 (MT5)

MT5 is the next-generation platform offering 21 timeframes (versus MT4's nine), 38 built-in indicators, an integrated economic calendar, and an improved order management system including six pending order types. MT5 on FP Markets also provides access to a broader range of instruments including shares and commodities. It supports MQL5 for automated strategy development and is available on desktop, web, and mobile.

cTrader

cTrader is available exclusively on the Raw account and is favored by algorithmic and professional traders for its transparent ECN execution environment. Key features include:

• Full Level II pricing and market depth display
• cBots for automated trading using C#-based strategy development
• One-click trading and advanced order types including stop-limit orders
• Highly intuitive charting with 26 timeframes
• Available on desktop, web (cTrader Web), and mobile (iOS and Android)

IRESS

IRESS is a professional-grade platform used extensively by institutional traders and brokers across Australia. It offers direct market access, real-time Level II market depth for equities, and sophisticated order management tools. It is the platform of choice for traders focused on share CFDs and exchange-listed products rather than pure forex trading.

Not sure which platform to use? Read our guide: MT4 vs MT5 vs cTrader - Full Comparison

Spreads & Fees

Spreads, Commissions, and Trading Costs

FP Markets' trading costs are among the most competitive available from a regulated retail broker, particularly on the Raw account where ECN pricing provides near-institutional spreads.

Raw Account Spreads (average during liquid market hours)

• EUR/USD: 0.04 pips average (from 0.0 pips)
• GBP/USD: 0.37 pips average
• USD/JPY: 0.10 pips average
• AUD/USD: 0.10 pips average
• USD/CAD: 0.23 pips average
• EUR/GBP: 0.65 pips average

On the Raw account, a commission of approximately $3.00 USD per side per standard lot applies, bringing the effective all-in cost on EUR/USD to roughly 0.64 pips (spread plus commission combined) — highly competitive against industry peers.

Standard Account Spreads (commission-free)

• EUR/USD: From 1.0 pip
• GBP/USD: From 1.4 pips
• USD/JPY: From 1.1 pips

Overnight Swap Rates

Swap rates at FP Markets are applied at the standard triple-rate on Wednesdays for positions held through rollover. Rates vary by instrument and direction. For traders holding positions overnight, these costs can accumulate on longer-term trades and should be reviewed within the platform before trading. There is no swap-free (Islamic) account option to waive these charges.

Cost Comparison

Compared to the industry average Raw account all-in cost of 0.8–1.0 pips on EUR/USD, FP Markets' 0.64 pip effective cost positions it firmly in the low-cost tier. For a trader executing 10 standard lots per day, the saving versus a mid-tier broker can amount to several hundred dollars monthly.

See how FP Markets spreads compare to other brokers: Live Spread Comparison Table  ·  Forex Spreads and Fees Explained

Deposits & Withdrawals

Deposits, Withdrawals, and Funding Options

FP Markets supports a broad range of deposit and withdrawal methods, with several options relevant to traders based in the MENA region. All transactions are processed through the broker's secure client portal.

Available Deposit Methods

• Visa and Mastercard: Instant processing for deposits; widely accessible across UAE, Saudi Arabia, and Kuwait
• Bank wire transfer: Accepted from most GCC banks; processing takes 1–3 business days depending on the sending bank
• Skrill: Instant deposit; popular e-wallet option available in the MENA region
• Neteller: Instant deposit; another widely supported e-wallet
• Fasapay: Instant processing; primarily serves Southeast Asian clients but accessible regionally
• Cryptocurrency: Bitcoin and other cryptocurrencies accepted via third-party payment processor; processing times vary

Minimum Deposit

The minimum deposit to open a Standard or Raw account is $100 USD (or equivalent in other accepted currencies). The IRESS platform requires a minimum of $1,000 AUD or equivalent.

Withdrawal Process

Withdrawals must be submitted through the client portal and are typically processed within 1–2 business days from FP Markets' side. The method of withdrawal must generally match the deposit method used, in line with standard anti-money-laundering requirements.

• Card withdrawals: 3–5 business days to appear in account after processing
• E-wallet withdrawals (Skrill, Neteller): Usually within 24 hours of processing
• Bank wire: 3–5 business days depending on receiving bank

Fees

FP Markets does not charge internal fees on most deposit or withdrawal methods. However, third-party fees from payment processors, banks, or currency conversion may apply. Traders should confirm current fee schedules in the client portal before initiating transactions.

Account Currencies

FP Markets supports multiple base currencies including USD, EUR, GBP, AUD, SGD, CHF, JPY, NZD, HKD, and CAD. USD accounts are most common among MENA-region traders.

Customer Support

Customer Support at FP Markets

FP Markets provides customer support through multiple channels, though the quality and availability of service in the MENA region carries some important caveats for Arabic-speaking traders to be aware of.

Support Channels

• Live chat: Available directly on the FP Markets website and within the client portal; generally the fastest channel for routine account and technical queries
• Email: Support inquiries can be submitted to the broker's support team; response times are typically within a few hours during business hours
• Phone: FP Markets offers telephone support with international dial-in numbers; primary support lines are based in Australia (Sydney time zone)
• Online ticketing system: Available within the client portal for account-specific matters requiring documentation

Operating Hours

FP Markets support operates during standard Australian business hours, which are Monday to Friday, 08:00–18:00 AEST. In UAE time (GST), this equates to approximately 02:00–12:00 GST, meaning afternoon and evening support in the Gulf is limited to automated resources or email. Traders in the MENA region requiring support outside these hours should use the email channel and expect responses the following business day.

Languages

Support is primarily delivered in English. Arabic-language support is not consistently available directly from the core support team, which is a notable gap for traders in Saudi Arabia, the UAE, and Kuwait who prefer communication in their native language. Some regional introducing brokers and partners operating in Arabic may be able to bridge this gap.

Overall Assessment

For straightforward technical and account queries during business hours, FP Markets' support performs adequately. Live chat response times are generally under five minutes during peak hours. However, the lack of dedicated Arabic-language support and the time-zone mismatch with the Gulf region are real limitations that MENA-based traders should factor into their broker selection decision.