MetaTrader 4 and 5
The two MetaQuotes platforms, with an add-on toolbox of advanced indicators and trade management tools.
- Expert Advisors
- Advanced trading tools add-on
- Virtual private server (VPS) option
- One-click trading
FP Markets review
Australian ECN-style broker founded in 2005, known for raw spreads, fast execution and a broad choice of platforms including cTrader and TradingView.
9.4/10#3 in our ranking
Analysis of public sources- ASIC
- CySEC
- FSCA
- FSA Seychelles
- Since 2005
Our verdict on FP Markets
In short
FP Markets is an Australian broker founded in 2005 and regulated by ASIC and CySEC. Its Raw account combines spreads from 0.0 pip with a low commission, and it supports four major platforms: MetaTrader 4, MetaTrader 5, cTrader and TradingView. It is one of the most cost-effective choices in our comparison for active traders.
Who is it for?
Ideal for active and algorithmic traders who want low trading costs, fast execution and the freedom to choose between MetaTrader, cTrader and TradingView.
Who it suits less
Less suited to traders looking for a proprietary beginner-friendly app or for vanilla options, and to investors who want to buy real stocks outside the Iress platform available in some regions.
FP Markets overview
FP Markets (First Prudential Markets) was founded in Sydney in 2005. The group holds an Australian Financial Services Licence issued by ASIC and serves European clients through an entity authorized by CySEC. It also operates entities regulated by the FSCA in South Africa and the Financial Services Authority of Seychelles for international clients.
The broker built its reputation on ECN-style pricing. The Raw account offers spreads from 0.0 pip with a commission of about $3 per side per lot, while the Standard account has no commission and spreads from 1.0 pip. Both accounts give access to more than 70 currency pairs and CFDs on indices, commodities, stocks, bonds and cryptocurrencies, depending on the entity.
In our comparison, FP Markets ranks third with a rating of 9.4 out of 10. Its platform choice and pricing earn top marks; its educational material is solid but less extensive than that of AvaTrade.
Pros and cons
Pros
- Raw spreads from 0.0 pip with a low commission
- Four platforms: MT4, MT5, cTrader and TradingView
- Regulated by ASIC and CySEC
- No inactivity fee
- More than 70 currency pairs
Cons
- International clients are served by an offshore entity with fewer protections
- No proprietary platform for beginners
- Educational material less extensive than the market leaders
- Stock CFD range varies by entity
Fees and commissions
FP Markets offers two pricing models. The Standard account has no commission, with spreads from 1.0 pip on EUR/USD. The Raw account starts at 0.0 pip with a commission of about $3 per side per standard lot, or $6 per round turn, which places it among the cheapest brokers in our comparison for active traders. FP Markets charges no inactivity fee, and most deposit methods are free.
| Fee type | Details |
|---|---|
| Spread EUR/USD | From 1.0 pip (Standard), from 0.0 pip + commission (Raw) |
| Spread GBP/USD | From 1.1 pips (Standard) |
| Commission | None on Standard; about $3 per side per lot on Raw ($6 round turn) |
| Overnight financing (swap) | Charged on positions held overnight |
| Deposit fees | Free for most methods |
| Withdrawal fees | Free for most methods; international bank wire fees may apply |
| Inactivity fee | None |
Trading platforms
FP Markets supports the four platforms most used by active traders. MetaTrader 4 and 5 come with an extended toolbox of indicators and trading tools, cTrader offers depth of market and an intuitive interface for manual and algorithmic trading, and TradingView lets you trade from its charts. Copy trading is available through FP Markets Social Trading and third-party services.
cTrader
A modern platform focused on transparent pricing and depth of market.
- Level II market depth
- cTrader Automate (C#)
- Advanced order types
- Detailed trade statistics
TradingView
Direct trading from TradingView charts.
- Trade from the chart
- Pine Script indicators
- Alerts
- Community ideas
Available instruments
- 70Forex pairs
- 600Stocks
- 15Commodities
- 20Indices
- 10Cryptocurrencies
- 5Bonds
Approximate figures published by the broker. The exact list may vary by account type and by the entity that holds your account.
Deposits and withdrawals
- Minimum deposit
- $100 or equivalent (AUD 100)
- Payment methods
- Processing times
- Instant deposits by card and e-wallet. Withdrawals processed within 1 business day.
- Fees
- No deposit fees for most methods. International bank wire withdrawals may incur bank charges.
Customer service
- Languages
- Opening hours
- 24 hours a day, 7 days a week
- Contact channels
Safety and regulation
FP Markets is supervised by ASIC in Australia and CySEC in the European Union, two respected regulators that require segregated client funds and negative balance protection for retail clients. EU clients of the CySEC entity are covered by the Investor Compensation Fund up to EUR 20,000. Clients outside Australia and Europe are usually onboarded by the entity regulated in Seychelles, which allows higher leverage but offers fewer statutory protections.
- Main regulators
- ASIC (Australia), CySEC (EU)
- Other group licences
- Investor protection
- ICF up to EUR 20,000 for EU clients; varies by entity
- Segregated client funds
- Yes
- Parent company
- First Prudential Markets group (private), Sydney
- Year founded
- 2005
Frequently asked questions
Yes. FP Markets is regulated by ASIC in Australia and CySEC in the EU, as well as the FSCA in South Africa and the FSA in Seychelles for international clients.
Yes. FP Markets supports MetaTrader 4, MetaTrader 5, cTrader and TradingView, one of the widest platform choices in our comparison.
Spreads start from 0.0 pip, plus a commission of about $3 per side per standard lot ($6 per round turn).
FP Markets alternatives
Brokers in the same category (Forex) with similar ratings, ranked by rating.
Ready to open an account with FP Markets?
Overall rating: 9.4/10
Trading CFDs involves a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Brokers.Forex has no affiliate partnership with FP Markets: this link earns no commission.