FP Markets Review

FP Markets Review

Few brands can genuinely claim to be a truly global Forex and CFD broker with decades of experience, consistently recognized for their exceptional products and customer service, adherence to the highest regulatory standards, competitive trading conditions, and comprehensive tools catering to both seasoned professionals and beginners in financial trading. FP Markets is undoubtedly one of these standout brands.

Established in Australia in 2005, FP Markets has spent nearly two decades expanding its presence across highly regulated markets like the European Union, as well as thriving in competitive emerging markets across Africa and Asia. This sustained growth and success are no accident. FP Markets has set itself apart from even its largest competitors by offering clients a diverse range of advanced trading platforms, flexible payment methods, and extensive educational resources. Additionally, its remarkably low trading costs, reflected in tight spreads and competitive commissions, make it a compelling choice for traders. The broker further enhances accessibility by providing multilingual websites and customer support in languages such as English, Italian, Arabic, German, Chinese, Czech, Greek, Spanish, Portuguese, French, Korean, Polish, Indonesian, Vietnamese, and Thai.

FP Markets’ excellence is underscored by over 60 industry awards, including repeated recognition for Most Satisfied Clients, Best Value Broker, Best Trade Execution, Best Customer Service, and Best Educational Materials.

While FP Markets offers an accessible entry point for beginners to build knowledge and experience, it truly shines in its ability to cater to professional and high-volume forex traders. The broker provides access to over 10,000 global market products and imposes no trading restrictions on strategies like scalping, making it ideal for implementing diverse trading approaches, including the use of Expert Advisor bots. Furthermore, FP Markets prioritizes client security by offering safeguards such as negative balance protection and segregated bank accounts for all clients, regardless of regulatory requirements in their jurisdiction. This commitment to excellence and client protection solidifies FP Markets’ position as a trusted partner in the world of online trading.

FP Markets Licenses and client protection

The FP Markets brand is operated by a group of companies whose licenses enable the broker to serve traders from nearly every corner of the globe, with only a few exceptions. These exceptions include jurisdictions with unique regulatory frameworks, such as the United States, as well as regions listed on the FATF and EU/UN sanctions lists.

As previously mentioned, FP Markets began its journey to success in Australia. In this jurisdiction, the brand is managed by First Prudential Markets Pty Ltd, a company licensed by the Australian Securities and Investments Commission (ASIC). Australia is renowned for its stringent regulatory standards and rigorous oversight of financial service providers. To ensure financial stability, ASIC mandates that companies maintain a minimum capital of AUD 1,000,000. Additional requirements include keeping client funds in segregated accounts and adhering to strict internal procedures, such as risk management, staff training, accounting practices, and regular audits.

Licensed brokers in Australia are also subject to restrictions on the maximum leverage they can offer retail traders. Several years ago, ASIC aligned these restrictions with those in the European Union, capping leverage at 1:30 for major currency pairs, 1:20 for non-major pairs, gold, and major indices, 1:10 for other commodities and non-major indices, and 1:2 for cryptocurrencies. These limitations are designed to protect traders from the heightened risk of significant losses that can result from rapid market fluctuations or poor trading decisions when using high leverage.

In 2018, FP Markets expanded its operations into one of the most competitive and highly regulated financial markets in the world—the European Union. Like many leading forex and CFD brokers, FP Markets established a European presence through a licensed entity in Cyprus. The company, First Prudential Markets Ltd, operates under the oversight of the Cyprus Securities and Exchange Commission (CySEC), ensuring compliance with the strict regulatory framework governing financial services within the EU.

Following Brexit, First Prudential Markets Ltd opted into the United Kingdom’s Temporary Permission Regime (TPR), a regulatory measure that allowed EEA-based firms to continue servicing their existing UK clients for a limited period. However, under this arrangement, the broker was restricted from onboarding new customers in the UK. This framework was part of the broader regulatory adjustments necessitated by the UK’s departure from the European Union.

The company’s European operations are governed by the regulatory framework set by the European Securities and Markets Authority (ESMA) and implemented through the Markets in Financial Instruments Directive (MiFID). These regulations impose stringent operational requirements on forex and CFD brokers to ensure financial stability, consumer protection, and market transparency.

For retail traders, many of the core regulatory protections mirror those established in Australia. Brokers operating in the European Union are required to maintain a minimum capital reserve of EUR 730,000 to ensure financial stability and resilience against market fluctuations. Retail clients are provided with negative balance protection, preventing them from losing more than their initial investment due to market volatility. Additionally, client funds must be held in segregated bank accounts, ensuring they are protected from misuse and cannot be accessed for the broker’s operational expenses. EU brokers must also adhere to strict transparency and reporting obligations, requiring them to submit regular transaction reports to regulatory authorities to prevent market abuse and enhance investor protection.

Despite these similarities, there are notable differences between EU and Australian regulations, particularly in investor protection mechanisms. One of the most significant distinctions is the mandatory participation of European brokers in Investor Compensation Funds. These funds are designed to provide financial security in the event of a broker’s insolvency, offering eligible retail clients compensation of up to EUR 20,000. This safeguard provides an additional layer of protection that is not required under Australian regulations. Furthermore, EU-based retail traders have the right to escalate disputes to the Financial Ombudsman, an independent body that helps resolve conflicts between brokers and clients.

Leverage restrictions in the European Union align closely with those imposed by Australian regulators. ESMA’s rules limit the maximum leverage available to retail traders to 1:30 for major currency pairs, with lower leverage caps applied to other asset classes. However, under MiFID, traders who meet specific criteria can apply for Professional Trader status, which grants access to higher leverage. To qualify as a professional client, a trader must demonstrate significant experience in financial trading and meet strict capital and transaction volume requirements. While professional classification allows for greater flexibility, it also comes with reduced regulatory protections, meaning traders must carefully assess whether they meet the necessary criteria before opting for this status.

Overall, FP Markets’ presence in the European Union through its CySEC-regulated entity underscores its commitment to operating under robust financial regulations while offering a secure trading environment for retail and professional clients alike.

In recent years, FP Markets has strategically expanded its presence in Africa, targeting the region’s rapidly growing financial markets. As part of its commitment to regulatory compliance and client protection, the broker has secured licenses from both the Financial Sector Conduct Authority (FSCA) in South Africa and the Capital Markets Authority (CMA) in Kenya. It operates within these jurisdictions through its subsidiaries FP Markets (Pty) Ltd and FP Markets Limited, reinforcing its credibility in the region.

South Africa and Kenya are not only emerging investment destinations but also serve as key financial hubs for broader sections of the continent. The broker’s regulatory approvals in these jurisdictions enhance its legitimacy and provide traders with a level of security and confidence. However, it is important to recognize that financial regulations in these markets are less stringent compared to those in more tightly regulated environments such as the European Union and Australia. Unlike ESMA or ASIC, the FSCA and CMA do not impose strict caps on leverage, prohibit promotional bonuses, or require brokers to provide client fund protection measures such as negative balance protection or participation in investor compensation schemes.

Despite the looser regulatory framework, the reputation of a broker like FP Markets plays a crucial role in ensuring fair and transparent trading conditions. The company’s global standing and long-term strategy of maintaining trust and credibility mean that it still upholds high standards of service, execution quality, and customer support, even in jurisdictions with fewer regulatory restrictions. For traders in Africa, the presence of an internationally recognized broker with local licensing provides an opportunity to access global markets under more flexible trading conditions while benefiting from a broker that adheres to industry best practices.

The high reputation of this broker is also a primary source of reassurance for clients outside the above jurisdictions, where FP Markets operates without significant regulatory oversight. FP Markets’ global operations are managed by several companies based in offshore jurisdictions –  FP Markets LLC, incorporated in St. Vincent and the Grenadines (SVG), First Prudential Markets Limited, registered in the Seychelles, and FP Markets Ltd, based in Mauritius. 

Clients of the broker’s global branch contract with the company based in SVG. In this jurisdiction there are no regulations in place for forex and CFD brokers. The only measure taken by local financial authorities is to require companies engaged in such activities to be licensed by the jurisdictions in which they offer financial services. This has drastically reduced the number of fake brokers that were based in SVG, but still does not provide regulatory protections for clients from jurisdictions that do not have strong local regulations.

It is a common industry practice for major brokerage brands to establish offshore subsidiaries, enabling them to serve traders in multiple jurisdictions under a single legal entity. Many regions around the world either lack a well-defined regulatory framework for forex and CFD trading or impose restrictions that can make market access more challenging for brokers. By operating through offshore entities, brokers can extend their services to clients in these areas while maintaining operational efficiency. Additionally, offshore subsidiaries allow brokers to offer trading conditions that might not be permitted under stricter regulations in countries such as Australia, the European Union, the United Kingdom, or the United States. One key advantage is the ability to offer higher leverage, which can be appealing to traders willing to take on greater risk in pursuit of potentially higher returns. In tightly regulated jurisdictions, leverage for retail clients is typically capped at levels such as 1:30 or 1:50, whereas offshore brokers often provide leverage as high as 1:500 or even higher.

Despite the more flexible regulatory environment, established brands like FP Markets maintain high operational and ethical standards across all their divisions, including their offshore entities. Unlike some brokers that might take advantage of weaker regulations, FP Markets ensures that fundamental protections for clients remain in place regardless of jurisdiction. This includes key safety measures such as segregated client funds, which ensure that traders’ deposits are kept separate from the company’s operational funds, reducing the risk of misuse. The broker also voluntarily provides negative balance protection for its offshore clients, ensuring that traders cannot lose more money than they have deposited, even in extreme market conditions. While offshore registration allows brokers to bypass certain regulatory requirements, FP Markets adheres to best practices to maintain trust and transparency across its global operations.

Another common advantage of offshore registration is the ability to offer promotional incentives such as deposit bonuses, cashback rewards, loyalty programs, and trading competitions—practices that are often restricted or outright banned in highly regulated jurisdictions. Many financial regulators, including the Australian Securities and Investments Commission (ASIC), the European Securities and Markets Authority (ESMA), and the UK’s Financial Conduct Authority (FCA), prohibit brokers from using bonuses as a marketing tool due to concerns that they may encourage excessive risk-taking. However, some offshore brokers freely use these incentives to attract and retain traders. Despite having the opportunity to implement such promotional strategies, FP Markets has opted not to offer deposit bonuses, prize contests, or loyalty rewards. Instead, the broker focuses on maintaining competitive trading conditions, ensuring a transparent and secure trading environment, and delivering high-quality customer support and trading tools.

FP Markets Trading software

FP Markets stands out for its extensive selection of advanced trading platforms, offering traders a high level of customization, flexibility, and efficiency in managing their market investments. The broker provides access to both industry-leading platforms that have stood the test of time and innovative solutions designed to enhance functionality for professional traders. Ensuring seamless accessibility across all devices, FP Markets allows clients to execute trades from desktops, mobile devices, and tablets while maintaining the highest security standards to protect personal and financial data.

However, the availability of certain trading platforms may differ depending on a trader’s location, as regulatory requirements vary between jurisdictions such as the European Union, Australia, and other regions where FP Markets operates. Despite these variations, there are core software solutions that remain accessible to all FP Markets clients, regardless of their country of residence.

Most FP Markets clients have at their disposal the most advanced and established trading platforms in the industry – MetaTrader 4 (MT4), MetaTrader 5 (MT5) and cTrader. The broker also gives you the option to link your trading accounts to the platform with TradingView‘s social networking features. For Australian clients, there is one more trading software option, IRESS, which is linked to a separate trading account type. Let’s take a detailed look at what these platforms are and which one will be best for your trading needs.

MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader are among the most widely used trading platforms in the forex and CFD industry, each offering unique features tailored to different types of traders. MT4, developed by MetaQuotes Software and released in 2005, has long been the industry standard, particularly for forex trading. MT5, introduced in 2010 as its successor, was designed to accommodate a wider range of financial markets, including stocks and commodities, while cTrader, developed by Spotware Systems, has positioned itself as a strong alternative with a more modern interface and a focus on direct market access.

One of the primary differences between the platforms lies in their architecture and trading capabilities. MT4 is a relatively simple yet highly effective platform that supports forex and CFD trading with a straightforward interface, making it ideal for retail traders. It is particularly known for its robust automated trading system through Expert Advisors (EAs), which are programmed using the MQL4 language. While highly customizable, MT4 lacks some of the more advanced features seen in its successor. MT5, on the other hand, supports a broader range of financial instruments, including futures and stocks, and features a more sophisticated back-testing environment, additional timeframes, and an integrated economic calendar. Its automated trading system is built on MQL5, which allows for more complex and powerful programming, but it is not backward-compatible with MQL4, meaning that EAs and custom indicators developed for MT4 cannot be used on MT5 without modifications.

cTrader differentiates itself by offering a more modern and intuitive user interface with enhanced charting tools, Level II market depth, and a more transparent order execution model, making it a favorite among ECN traders. Unlike the MetaTrader platforms, cTrader uses C# for automated trading, which many programmers find to be a more versatile and widely-used language. It also includes features like cloud-based trading, allowing traders to access their settings and automated strategies from any device without the need for synchronization.

In terms of accessibility, all three platforms are available in desktop, web, and mobile versions, but there are key differences in functionality between these variations. The desktop versions offer the full range of tools, including the ability to run automated trading strategies continuously without interruption. This is particularly important for traders who rely on EAs, as running them on a personal computer requires the system to be constantly online or alternatively hosted on a Virtual Private Server (VPS) for uninterrupted performance. The web versions of MT4, MT5, and cTrader provide access to core trading features through a browser without requiring software installation, making them convenient for traders who need flexibility. However, web-based versions generally lack support for automated trading, making them less useful for those relying on algorithmic strategies.

The mobile applications for MT4, MT5, and cTrader enable traders to manage their accounts, execute trades, and analyze market conditions from anywhere. However, mobile apps have limitations in terms of automation, as they do not support running EAs or custom scripts, which remain exclusive to the desktop versions. Despite this, mobile trading apps are highly functional, with intuitive interfaces and key charting and order execution features.

One of the most intriguing aspects of the trading platform debate is why MT4 remains the preferred choice for many traders, despite being technologically outdated compared to MT5 and cTrader. The primary reason is its massive existing user base and the extensive marketplace of custom indicators, scripts, and EAs developed over nearly two decades. Many traders have invested significant time and money into building or purchasing MT4-based trading tools, making the transition to MT5 costly and inconvenient due to the lack of backward compatibility between MQL4 and MQL5. Additionally, some traders find MT4’s simpler structure more efficient for forex trading, as MT5’s additional features—such as stock trading functions, the new order system, and a different hedging model—are unnecessary for those who strictly trade forex. Brokers also play a role in MT4’s continued dominance, as many still prefer offering MT4 due to its widespread adoption and lower infrastructure costs compared to MT5 or cTrader.

cTrader has gained popularity among professional traders, particularly those who favor ECN accounts, as it offers superior execution speed, direct market access, and greater transparency in pricing. However, its adoption has been slower than the MetaTrader platforms due to a smaller user base and fewer brokers offering it as an option. While cTrader excels in terms of user experience and technology, its automated trading capabilities, though powerful, have not yet reached the same level of market penetration as MT4’s EAs.

MT4 remains the dominant platform due to its simplicity, extensive community support, and established automated trading infrastructure. MT5, while technologically superior, has struggled to fully replace MT4 due to compatibility issues and a perceived complexity that some forex traders find unnecessary. cTrader provides a more modern and transparent trading experience with strong automated trading support through C#, but its adoption remains limited to a smaller but growing group of traders. The choice between these platforms ultimately depends on the trader’s priorities, whether it be access to a vast EA ecosystem, advanced multi-asset trading capabilities, or a modern and transparent trading environment.

TradingView is a powerful, web-based trading platform that has gained immense popularity among traders due to its advanced charting capabilities, social trading features, and accessibility across multiple asset classes. Unlike traditional trading platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, which are primarily focused on trade execution and automation, TradingView is designed as a comprehensive market analysis tool with a strong emphasis on visual representation, collaboration, and technical analysis.

One of TradingView’s standout features is its extensive range of charting tools. It provides a wide variety of chart types, timeframes, and over 100 built-in technical indicators, along with thousands of user-created indicators available in the platform’s script library. This makes it highly customizable for traders who rely on technical analysis. The platform is particularly known for its Pine Script programming language, which allows traders to create custom indicators and automated trading strategies. While not as complex as MetaTrader’s MQL4 or MQL5 or cTrader’s C#, Pine Script is highly efficient for developing and testing indicators and simple trading algorithms.

Another major advantage of TradingView is its cloud-based infrastructure, which enables users to access their charts and settings from any device with an internet connection without the need to install software. This contrasts with MetaTrader and cTrader, which require dedicated software installations for full functionality. Additionally, TradingView’s alert system is highly advanced, allowing users to set custom alerts based on price, indicators, and even custom scripts, with notifications sent via email, SMS, or push notifications.

Social trading is another key feature that sets TradingView apart. It has a built-in community where traders can share ideas, post analysis, and discuss market conditions in real-time. This collaborative approach allows traders to learn from each other, follow experienced analysts, and integrate shared strategies into their own trading plans. This is particularly valuable for beginners looking for guidance and insights from seasoned traders.

For forex brokers, offering standard trading platforms such as MT4, MT5, and cTrader while also allowing clients to link their accounts to the TradingView ecosystem provides significant advantages. First, it enhances the broker’s appeal to a wider audience. While many traders prefer MetaTrader and cTrader for their automated trading capabilities, there is a growing number of traders who rely on TradingView for its superior technical analysis tools. By offering connectivity with TradingView, brokers can cater to traders who prefer sophisticated charting tools without requiring them to switch platforms.

Secondly, brokers that integrate with TradingView enable traders to execute trades directly from the TradingView interface. This seamless integration means that traders can use TradingView’s analysis tools while maintaining full trading functionality with their broker’s infrastructure. This can lead to improved trading efficiency, as traders no longer need to switch between platforms for analysis and execution.

Another key benefit is accessibility. Because TradingView is entirely web-based, it allows traders to access their accounts from any device without needing to install additional software. This is particularly beneficial for traders who frequently switch between desktop and mobile devices. While MT4, MT5, and cTrader also have web and mobile versions, their functionality is often limited compared to their desktop counterparts. TradingView’s cloud-based approach ensures a consistent user experience across all devices.

Additionally, TradingView integration can improve risk management and trade execution. With access to real-time market sentiment, heatmaps, and volume analysis, traders can make more informed decisions. The combination of high-quality charting tools and direct execution through a broker allows traders to refine their strategies with greater precision.

While TradingView lacks some of the algorithmic trading capabilities of MT4, MT5, and cTrader, it still allows for basic scripting and automation via Pine Script. For traders who do not require complex automated trading but prioritize advanced charting and analysis, TradingView offers an optimal solution. Meanwhile, traders who rely on Expert Advisors (EAs) or cBots for automated strategies can still use MetaTrader or cTrader while leveraging TradingView for research and market insights.

Customers of the ASIC-regulated company enjoy exclusive access to additional trading software that is not offered by the other FP Markets divisions – IRESS.

This is a sophisticated multi-asset trading system widely used by forex and CFD brokers in Australia, particularly for trading equities, derivatives, and other financial instruments. It is developed by IRESS Limited, an Australian financial technology company, and is primarily known for its institutional-grade trading tools, direct market access (DMA), and advanced order management system. Unlike MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, which are largely retail-focused forex and CFD platforms, IRESS is designed for professional traders, institutional investors, and active stock market participants who require real-time market data, advanced analytics, and access to a wide range of asset classes.

One of the most significant differences between IRESS and platforms like MetaTrader and cTrader is the type of execution model used. MetaTrader and cTrader are primarily designed for forex and CFD trading using market-maker or ECN/STP execution models, where orders are either routed through a dealing desk or matched through a liquidity provider. In contrast, IRESS provides direct market access (DMA), meaning that traders place their orders directly into the market order book of major exchanges, ensuring full price transparency and real-time execution.

Another key difference is the range of financial instruments supported. While MT4, MT5, and cTrader are predominantly focused on forex, commodities, indices, and CFDs, IRESS offers a broader range of tradeable assets, including shares, exchange-traded funds (ETFs), futures, options, warrants, and bonds. This makes it a preferred platform for traders who are heavily involved in equity trading and derivatives markets in addition to forex.

When it comes to charting and analysis tools, MetaTrader and cTrader are better suited for forex traders who rely on technical indicators, algorithmic trading, and custom scripting. Both platforms allow traders to develop Expert Advisors (EAs) in MetaTrader and cBots in cTrader using MQL4, MQL5, and C# programming languages. However, IRESS is built more for professional traders who rely on real-time market depth, integrated news feeds, and institutional-level trading tools. It provides advanced analytics, fundamental data, and professional-grade trading screens that allow traders to make informed decisions based on corporate earnings reports, order book depth, and macroeconomic news.

While MetaTrader and cTrader are designed with automated trading in mind, IRESS is primarily a manual trading platform. MT4 and MT5 allow for full automation through Expert Advisors (EAs), while cTrader supports cBots, enabling traders to create, test, and execute algorithmic strategies. In contrast, IRESS does not support algorithmic trading natively, and traders looking for automation typically rely on third-party API integrations or external software solutions.

User interface and customization is another area of difference. IRESS features a highly customizable, professional-grade interface that is more in line with institutional trading desks, offering multiple workspace layouts, advanced order types, and professional trade management tools. In contrast, MetaTrader and cTrader are designed with a more retail-friendly approach, featuring simplified interfaces with built-in technical indicators, one-click trading, and an intuitive layout for forex and CFD traders.

IRESS is particularly advantageous for traders who require direct access to stock exchanges, allowing them to trade ASX (Australian Securities Exchange), NASDAQ, NYSE, LSE, and other global markets. MetaTrader and cTrader, on the other hand, are designed for forex and CFD trading, where execution happens over-the-counter (OTC) rather than through centralized exchanges. IRESS allows for level II market depth, which provides a full view of bid and ask orders, while MetaTrader platforms typically rely on liquidity providers to aggregate pricing from multiple sources.

IRESS is available as a desktop application, web-based platform, and mobile app, providing flexibility for traders who need to access their accounts from different devices. While MetaTrader 4, MetaTrader 5, and cTrader also have desktop, web, and mobile versions, their mobile trading capabilities are more streamlined for forex traders who need quick execution and chart monitoring. IRESS’s mobile platform is geared toward professional traders, providing access to live pricing, corporate actions, and advanced order types, but it may lack some of the lightweight execution speed that mobile forex traders expect from MetaTrader and cTrader apps.

Unlike MetaTrader and cTrader, which are generally offered as free platforms by brokers, IRESS is a premium trading platform that often requires a monthly subscription fee, particularly for access to live data feeds, professional charting tools, and premium market research. FP Markets clients using IRESS traders are required to pay a monthly fee of 75 USD. However, this fee can be waived if a certain threshold of trades is executed or commissions generated. Specifically, the fee is waived if more than 15 trades are executed or if commissions totaling at least 150 USD are generated within a single calendar month.

IRESS is best suited for professional traders, institutional investors, and active stock and futures traders who need direct market access (DMA), full market depth, and access to stocks, bonds, and other exchange-traded securities. It is also beneficial for portfolio managers and hedge fund traders who require advanced research tools, risk management systems, and multi-asset trading capabilities.

On the other hand, MetaTrader 4, MetaTrader 5, and cTrader remain the preferred choices for forex and CFD traders, particularly those who use algorithmic trading, scalping strategies, or high-frequency trading (HFT). These platforms are retail-friendly, widely supported by brokers, and come with a large community of traders, developers, and third-party tools.

One of the standout features available to all traders is the FP Markets proprietary mobile application, designed for both Android and iOS devices. This app offers a comprehensive trading experience, allowing users to manage their accounts effortlessly from a smartphone or tablet without the need for a desktop setup. The mobile application enables traders to deposit and withdraw funds using multiple payment methods, monitor market news and economic events through an integrated trading calendar, and access a wide range of technical indicators and interactive charts for market analysis.

Most importantly, the FP Markets mobile app ensures that traders never miss an opportunity, as they can open and close positions on the go with just a few taps. The app also includes a customizable favorites list, allowing users to track and access their preferred instruments quickly. With real-time market updates and intuitive navigation, the FP Markets mobile app delivers a streamlined trading experience that caters to both beginner and experienced traders, ensuring that they remain connected to the markets at all times.

FP Markets trading conditions

FP Markets has largely standardized its trading conditions across different jurisdictions, ensuring that retail traders experience consistent pricing and execution. However, some variations exist due to regulatory requirements, platform availability, and specific operational factors. Despite these differences, the broker strives to offer competitive conditions that align with industry best practices.

One of the advantages of trading with FP Markets is the ability to open a Demo Account quickly and effortlessly. After the initial registration, traders can create multiple demo accounts with different configurations, including various trading platforms, base currencies, and leverage settings. This flexibility allows traders to thoroughly test the broker’s features, familiarize themselves with its trading environment, and determine the optimal setup for their strategy before committing real funds. These demo accounts serve as a valuable tool not only for beginners who need to gain confidence and refine their skills but also for experienced traders who wish to evaluate FP Markets’ offerings, execution speed, and overall trading conditions before making a financial commitment.

To open a Live Trading Account, traders must complete a detailed registration process, which includes a questionnaire designed to assess their financial situation, trading experience, investment goals, and overall suitability for forex and CFD trading. This compliance measure ensures that traders understand the risks involved and that the broker meets its regulatory obligations. FP Markets reserves the right to decline applications if an applicant’s responses do not meet the required criteria, reinforcing its commitment to responsible trading and adherence to global financial standards.

FP Markets offers its clients a straightforward choice between two main account types: Standard and Raw. The Standard Account operates on a commission-free pricing model, where traders pay only the spread, which represents the difference between the bid and ask price. FP Markets advertises spreads starting from 1 pip, and at the time of this review, the typical spread for the widely traded EUR/USD currency pair was 1.1 pips. This type of account is often preferred by traders who value simplicity, as they do not need to calculate additional commission costs when planning their trades.

The Raw Account, as its name suggests, provides traders with raw interbank spreads, which can be as low as 0.0 pips under optimal market conditions. However, instead of earning revenue through wider spreads, FP Markets charges a fixed commission of $3 per lot per side. This means that when the spread is at its lowest, a trader might pay as little as $6 per lot traded, compared to over $10 on a Standard Account, where the broker’s fee is embedded within the spread. The cost advantage of a Raw Account is particularly evident for traders who execute frequent trades or engage in high-volume trading strategies, such as scalping or algorithmic trading.

The decision between a Standard and Raw account depends largely on a trader’s trading style, strategy, and market conditions. Traders who prefer a straightforward cost structure, such as beginners or those trading infrequently, may find the Standard Account more appealing, as it simplifies cost calculations and eliminates commission fees. On the other hand, professional traders, scalpers, and high-frequency traders often gravitate toward Raw Accounts due to their narrower spreads, lower trading costs, and faster execution speeds. In volatile market conditions, where spreads can fluctuate, traders may find that a Raw Account provides a more stable and predictable cost structure. Ultimately, selecting the right account type comes down to balancing trading frequency, execution preferences, and cost-efficiency based on an individual trader’s needs.

To open a trading account with FP Markets in the European Union, a minimum deposit of 50 EUR/GBP/USD is required, while for clients in other regions, the minimum deposit is 100 AUD or the equivalent in other currencies. While this amount is not the lowest in the industry, it remains an accessible entry point even for retail traders with limited capital. Considering the high level of service, strong regulatory protections, and the variety of trading tools available, FP Markets’ minimum deposit requirement is reasonable and justified by the quality of trading conditions provided.

Clients trading under FP Markets’ European entity have access to a broad selection of instruments, including over 70 forex pairs, more than 650 equity CFDs, 9 major and 6 minor global indices, over 200 ETF CFDs, a variety of commodities and metals CFDs, and crypto CFDs. This extensive range allows traders to diversify their portfolios across different asset classes.

For traders under FP Markets’ Australian entity and other international jurisdictions, the selection of forex pairs is slightly more limited, but there is a broader choice of shares and indices. This regional variation reflects the different regulatory frameworks and market conditions in which FP Markets operates.

One notable difference between FP Markets’ offerings in various jurisdictions is the availability of Islamic (swap-free) accounts. While these accounts, which comply with Sharia law by replacing interest-based swaps with alternative fees, are available for traders in Australia and other global regions, they are not offered under FP Markets’ European Union entity. This is likely due to regulatory constraints specific to CySEC and ESMA rules within the EU.

Despite minor differences in available instruments and features across regions, FP Markets maintains a strong global presence, providing traders with a solid selection of assets and competitive trading conditions, ensuring accessibility while maintaining regulatory compliance.

In Australia, traders have one additional option designed to trade shares on the Australian Stock Exchange (ASX), New York Stock Exchange (NYSE), London Stock Exchange (LSE) and NASDAQ via the trading platform IRESS. The minimum balance required for an IRESS account is 1,000 USD. In addition to the fee for using the platform, there is a brokerage rate which is dependent on whether you are a retailer or have professional status. It amounts to 6 USD and 0.06% thereafter and 0.05% without a minimum for a Professional/Wholescale Account.

Retail traders in the European Union and Australia are subject to strict leverage limits, with a maximum of 1:30 for major currency pairs and even lower leverage for other asset classes, including minor forex pairs, indices, commodities, and equities. These restrictions are in place to reduce risk exposure and prevent retail traders from accumulating excessive losses due to high volatility. However, in other international markets, FP Markets provides access to a significantly higher maximum leverage of 1:500, allowing traders to maximize their potential gains on successful trades. While this can increase profit potential, it also comes with a proportionately higher risk of loss. To help mitigate this, FP Markets ensures that negative balance protection applies to all clients, even those trading under offshore jurisdictions where such protections are not legally mandated.

Regulatory bodies in the EU and Australia do allow brokers to offer higher leverage, but only to Professional Clients, who must meet strict eligibility criteria. In the European Union, traders must satisfy at least two of the following conditions: they must have executed a minimum of 10 significant trades (at least 1 lot) per quarter over the last year, possess a financial instrument portfolio (including cash deposits) of at least €500,000, or have at least one year of experience in a professional position within the financial sector.

In Australia, professional status can be obtained through financial wealth criteria or trading experience. Traders must either demonstrate net assets of over AUD 2.5 million or an annual gross income exceeding AUD 250,000 over the past two years. Alternatively, professional status can be granted based on a significant trading volume over the past five years or by proving assets of at least AUD 500,000 and relevant financial sector experience.

For traders who meet these professional requirements, FP Markets grants access to leverage levels comparable to its offshore brokerage clients. Professional traders can trade forex pairs and certain commodities at up to 1:500, major indices at 1:200, and minor indices and certain commodities at 1:50 to 1:100. When trading stocks, leverage is capped at 1:20, while cryptocurrency trading remains more restricted. In the EU, even professional traders must adhere to the same 1:2 leverage cap for cryptocurrencies as retail traders, in line with ESMA regulations. However, in Australia, professional traders benefit from a slightly higher 1:5 leverage limit for cryptocurrency trading.

These differences highlight how leverage regulations vary significantly across jurisdictions, with FP Markets offering the most flexible conditions to professional traders and clients operating under offshore entities. While high leverage can be attractive, traders should carefully consider their risk tolerance and trading strategy before opting for increased exposure.

FP Markets offers Social Trading, also known as Copy Trading, exclusively to clients outside the European Union and Australia. This service allows traders to automatically replicate the strategies and trades of more experienced or successful investors, effectively leveraging the expertise of professional traders. By integrating social networking elements into trading, this approach fosters a collaborative environment, enabling traders to share insights, strategies, and market analysis.

For novice traders, social trading serves as an educational tool, allowing them to observe real-market strategies in action and gain practical experience without having to develop their own trading systems from scratch. It significantly lowers the barrier to entry into forex and CFD trading, providing an easier path to market participation. Even for more experienced traders, social trading can be a valuable tool for strategy diversification, enabling them to test different trading styles without actively managing multiple accounts.

A major advantage of copy trading is its time-saving aspect. Unlike traditional trading, which requires extensive market research, strategy development, and real-time trade monitoring, copy trading allows individuals to delegate trade execution to experienced professionals. This can be particularly beneficial for those with limited time or those who prefer a more hands-off approach.

Social trading also provides an opportunity for successful traders to monetize their expertise by becoming signal providers. These traders can earn commissions from followers who copy their trades, creating an additional revenue stream. This incentivizes top traders to refine their strategies and maintain consistent performance, as their success directly impacts their following and earnings.

However, like all trading methods, social trading carries risks. While it allows users to benefit from experienced traders’ insights, past performance does not guarantee future success. Even highly skilled traders may face losses due to unpredictable market conditions, and copying their trades does not eliminate the risk of drawdowns. Traders relying on copy trading should carefully evaluate provider track records, assess their risk management strategies, and diversify their copied trades rather than depending on a single strategy.

Additionally, copy trading platforms do not absolve traders of responsibility. Followers must remain actively engaged, regularly reviewing the performance of the traders they follow, adjusting risk settings, and being prepared to intervene if necessary. Blindly following another trader without understanding their risk tolerance, leverage usage, or market approach can lead to significant losses.

Despite its risks, FP Markets’ Social Trading feature offers a powerful and flexible tool for both beginner and experienced traders. It provides an alternative way to trade forex and CFDs, enhances community engagement, and expands earning opportunities for top traders. However, users must approach it strategically and with awareness, ensuring they manage risk effectively and remain informed about the traders they choose to follow.

No bonuses, but some perks

Many forex brokers, including some of the largest brands in the industry, take advantage of the fact that bonuses and promotions are not restricted in many regions across Africa, Asia, and other parts of the world. These brokers often use Welcome Bonuses, Deposit Bonuses, Loyalty Programs, Prize Draws, and Trading Competitions with substantial prize pools to attract and retain clients. While these incentives can be appealing, they often come with complex terms and conditions that may restrict a trader’s ability to withdraw funds or profits. Less reputable brokers, in particular, have been known to impose restrictive conditions on bonuses, making it difficult for traders to access their own funds.

In contrast, FP Markets adopts a more professional and transparent approach and does not offer bonuses or promotions, even in jurisdictions where they are allowed. Instead of relying on promotional incentives, the broker focuses on providing long-term value to its clients by offering highly competitive trading conditions, advanced technology, and professional services. However, FP Markets does provide certain exclusive benefits to traders outside of the European Union and Australia, which can be equally valuable for those engaged in active trading.

One such benefit is complimentary access to a Virtual Private Server (VPS) for traders who meet certain trading volume requirements. VPS hosting is an essential tool for algorithmic and high-frequency traders who rely on Expert Advisors (EAs) and automated trading scripts on platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. A VPS ensures uninterrupted trade execution, reducing latency and eliminating risks associated with power outages, internet disruptions, or hardware failures. Since automated trading strategies require a stable and fast connection to the trading servers, VPS hosting can improve execution speed and enhance overall trading performance.

By offering free VPS hosting, FP Markets provides active traders with a critical tool that enables them to execute trades seamlessly and without downtime, without needing to invest in third-party hosting solutions. This benefit not only enhances trading efficiency but also protects traders from potential financial losses due to connectivity failures or other technical interruptions.

To qualify for free VPS hosting, traders must meet certain monthly trading volume requirements. For MetaTrader 4 and MetaTrader 5, a trader needs to execute over 10 lots per month on a Standard trading account or over 20 lots on a Raw account to be eligible for a free VPS. For cTrader VPS, the requirement is 20 lots per month on a Standard account or 40 lots on a Raw account. Additionally, new customers can also receive free VPS access by making an initial deposit of at least $1,000 USD.

While FP Markets does not engage in marketing promotions such as bonuses and trading contests, it differentiates itself by providing institutional-grade trading conditions, access to a professional-grade VPS, and a secure trading environment. These features cater to serious traders who prioritize long-term profitability, stability, and efficiency over short-term promotional incentives.

FP Markets Deposit and Withdrawal methods

FP Markets stands out among its competitors when it comes to the extensive variety of payment methods available for both depositing funds and making withdrawals. The broker ensures that clients from different regions have access to multiple convenient payment options, tailored to their location. Whether a trader is in the European Union, Australia, or other parts of the world, FP Markets aims to provide the most accessible and efficient transaction methods.

For clients in the European Union, FP Markets supports major credit and debit cards, including Visa and MasterCard, as well as wire transfers and several popular e-wallet services such as PayPal, Neteller, Skrill, Sofort, and Giropay. The minimum deposit requirement for these clients is 50 EUR/GBP/USD, while the minimum withdrawal amount is 100 currency units for bank transfers and 5 EUR/GBP/USD for transactions made through credit cards and e-wallets. FP Markets does not impose deposit and withdrawal fees, except for withdrawals via Skrill and Neteller, which incur a 1% processing fee.

In Australia, the broker offers a similar range of payment methods but also includes local alternatives such as Bpay. Additionally, broker-to-broker transfers are available in multiple currencies, allowing seamless transactions between different financial institutions. FP Markets continues its policy of covering transaction fees for most payment methods, although some e-wallet services may still carry minor fees.

Outside of the European Union and Australia, FP Markets offers an even wider array of payment methods, adapting to regional banking preferences and alternative transaction solutions. Clients in Asia, South America, and Africa have access to local bank transfers in currencies such as INR, MYR, and VND, alongside other widely-used services, including SticPay, FasaPay, Rapyd, Perfect Money, Pagsmile, Dragonpay, Rapid Transfer, MyBux, Xpay, Apple Pay, Google Pay, and PlusDebit. These additional options ensure that traders worldwide can conveniently fund their accounts and withdraw profits without unnecessary complications.

A significant advantage for clients outside of regulated jurisdictions is the availability of cryptocurrency deposits and withdrawals through the offshore division of FP Markets. Crypto transactions are not accessible to clients in regions with strict financial regulations, such as the EU and Australia, but those trading through the offshore subsidiary can take advantage of this alternative funding method. The minimum withdrawal amounts and any potential fees vary depending on the specific cryptocurrency or payment provider used.

FP Markets Educational and research tools

FP Markets, like any top-tier forex brokerage, aims to serve as a comprehensive hub for all the resources and services traders need to make informed investment decisions, execute trades effectively, and manage risk with precision. The broker integrates a suite of analytical tools, educational materials, and real-time market insights to provide its clients with a competitive edge in financial trading.

At the core of FP Markets’ trading toolkit is an economic calendar, available within its trading platforms and mobile app, ensuring that traders stay informed about key financial events that may impact market movements. Complementing this is a multifunctional trading calculator, which allows traders to determine the value per pip in their base currency, calculate margin requirements, assess swap rates on open positions, and convert live exchange rates for precise trade management. Additionally, a profit calculator is available to help traders estimate potential gains or losses before executing their trades, allowing for a more structured and calculated approach to risk management.

FP Markets also maintains a “Traders Hub,” an invaluable resource that consolidates the latest forex market updates, press releases, company news, and expert insights. This hub provides daily technical and fundamental analysis, market commentary, and detailed reports, ensuring that traders can stay ahead of global economic trends without having to search through multiple external sources. By centralizing crucial financial information, FP Markets enables its clients to make well-informed trading decisions with ease.

For traders who are just beginning their journey in forex, FP Markets offers a structured educational experience, featuring award-winning training materials tailored to different levels of expertise. Its comprehensive video courses are divided into Beginner, Intermediate, and Advanced levels, allowing both novice and experienced traders to refine their knowledge and enhance their trading skills. These video tutorials cover everything from basic forex concepts to complex trading strategies, ensuring that traders of all backgrounds can find valuable insights to elevate their trading performance.

Beyond video courses, FP Markets enhances its educational offerings through live and on-demand Webinars, in-depth Podcasts, platform Video Tutorials, and downloadable eBooks. These resources help traders navigate FP Markets’ trading platforms, understand market mechanics, and refine their technical and fundamental analysis skills. By providing a diverse and accessible learning environment, FP Markets ensures that all clients—whether new to trading or seasoned professionals—have the tools they need to develop successful trading strategies and maximize their potential in the financial markets.

Notes from the author:

Reviewing a broker like FP Markets presents an interesting challenge because it operates with remarkable consistency and professionalism across all aspects of its service. Everything about this brand meets the high expectations one would have from a globally regulated, multi-award-winning broker. There are no obvious gaps, compromises, or oversights—every element of its offering is carefully structured to provide traders with a seamless and comprehensive trading experience.

From the moment you visit FP Markets' website, it becomes evident that everything is where it should be. The platform is well-organized, intuitive, and easy to navigate, ensuring that traders can access the information they need with just a click or two. Despite offering an extensive range of resources, the site never feels cluttered or overwhelming—instead, it maintains a clean, professional, and highly informative layout. The broker’s mobile app also provides a fully functional trading environment, enabling traders to manage accounts, deposit and withdraw funds, and execute trades effortlessly from their smartphones without relying on additional hardware.

FP Markets not only offers a very competitively priced trade, but is one of the most comprehensive sets of trading software we have seen at a single broker. The broker offers both the industry-standard MT4 and MT45, cTrader, and TradingView, and customers in Australia have IRESS as an option.

Another area where FP Markets stands head and shoulders above most brokers is in the sheer variety of deposit and withdrawal methods available. The broker supports a vast selection of payment options tailored to different regions, ensuring traders worldwide have access to convenient and efficient ways to fund and withdraw from their accounts. Furthermore, only a handful of the largest global brokers can rival FP Markets' commitment to providing extensive market insights and educational content. Its Traders Hub serves as an indispensable resource for traders, offering real-time market news, fundamental and technical analysis, daily reports, webinars, and in-depth educational materials—a testament to its dedication to empowering clients with knowledge and tools for informed trading decisions.