Introduction
Founded in 2005 and headquartered in Sydney, Australia, FP Markets is a multi-asset Forex and CFD broker operating a straight through-processing/ECN style pricing model on its MT4/MT5, cTrader and TradingView stacks, with DMA (direct market access) available for share CFDs via IRESS in certain regions. Its pitch is familiar but compelling: tight spreads, high leverage (entity dependent), multiple platforms, and rapid execution suitable for scalpers and algorithmic traders.
In this FP Markets review, you’ll learn how the broker is regulated, what account types and fees look like, which platforms and markets you can trade, how funding and withdrawals work, what real users say, and most importantly whether FP Markets is legit or a scam based on verifiable facts.
Table of Contents
Regulation & Safety
FP Markets is a brand used by several entities:
- First Prudential Markets Pty Ltd (Australia) – ASIC AFSL 286354.
- FP Markets LLC (St. Vincent & the Grenadines) – registration (local LLC, no prudential oversight).
- FP Markets Ltd (Mauritius) – FSC Investment Dealer GB21026264.
- First Prudential Markets Ltd (Seychelles) – FSA Securities Dealer SD130.
- FP Markets (Pty) Ltd (South Africa) – FSCA FSP 50926.
- First Prudential Markets Ltd (Cyprus) – CySEC CIF 371/18.
Is FP Markets safe?
Having multiple, well-known regulators (ASIC, CySEC, FSCA, FSA-SC, FSC-MU) is a positive, as client-asset segregation and conduct rules apply. However, protections differ by entity: for example, leverage caps are tighter under ASIC/CySEC than offshore, and investor compensation schemes are jurisdiction specific. The broker explicitly does not accept U.S. residents. Overall, FP Markets is well regulated compared with many CFD brokers, but your protections depend on which entity onboards you.
Account Types & Trading Conditions
FP Markets keeps account choices simple for MT4/MT5/cTrader/TradingView:
- Standard
- Min deposit: $100
- Spreads: from 1.0 pip (no commission)
- Max leverage: up to 1:500 (varies by entity)
- Instruments: FX, Metals, Indices, Commodities, Digital Currencies
- EAs/algos: Allowed
- Raw
- Min deposit: $100
- Spreads: from 0.0 pips
- Commission: $3 per side per lot ($6 round-turn) on MT4/5/cTrader
- Max leverage: up to 1:500 (varies by entity)
- Instruments: adds Stocks/Bonds in some regions TradingView also supported on Raw
- EAs/algos: Allowed
Islamic (Swap-Free) option: Available on request, with an administration fee instead of swaps.
Typical spreads: Independent testers and comparison sites put EUR/USD on the Raw account around 0.1 pip (plus commission) and about 0.8 pip on Standard (all-in, no commission). That’s competitive in 2025.
Account Comparison (Key Specs)
| Feature | Standard | Raw |
|---|---|---|
| Minimum deposit | $100 | $100 |
| Spreads (EUR/USD) | From 1.0 pip | From 0.0 pip (typical ~0.1) |
| Commission | $0 | $3 per side per lot |
| Max leverage* | Up to 1:500 | Up to 1:500 |
| Execution | ECN-pricing | ECN-pricing |
| Platforms | MT4/MT5/cTrader | MT4/MT5/cTrader/TradingView |
| Swap-free option | Yes | Yes |
*Leverage depends on regulator (e.g., 1:30 under EU/AU retail rules).
Trading Platforms
MetaTrader 4 & 5 (MT4/MT5): Full EA support, one click trading, copy trading connections (Myfxbook AutoTrade, Signal Start), plus WebTrader access for browser-based trading.
cTrader: Depth of Market (DoM), advanced order types, algorithmic capabilities, and mobile/desktop/web apps. Good fit for scalpers and strategy developers.
TradingView connectivity: Available (particularly with Raw). Traders can chart and place orders via the familiar TradingView interface.
IRESS (DMA, Australia centric): For share CFDs and DMA pricing (full market depth). Typically used by active equity traders platform fees may apply depending on data tiers.
Mobile Trading: FP Markets offers native iOS/Android apps alongside the mobile versions of MT4/5 and cTrader.
Markets & Instruments
FP Markets advertises 10,000+ instruments across: Forex (70+ pairs), Indices, Commodities, Metals, Shares/ETFs, Bonds, and Cryptocurrencies (availability depends on platform/entity). Examples include EUR/USD, XAU/USD (Gold), US500, AAPL, and BTC/USD.
Spreads, Commissions & Fees
- Raw account: Spreads from 0.0 typical EUR/USD ≈ 0.1 pip + $6 round-turn commission per standard lot.
- Standard account: Commission free spreads start around 1.0 pip (EUR/USD often ~0.8 pip in independent tests).
- Swap/Overnight Financing: Applies to most positions Islamic accounts replace swaps with an admin fee.
- Non-trading fees: FP Markets generally does not charge deposit fees withdrawal fees may apply depending on method/currency. No inactivity fee is commonly reported, though always check current T&Cs.
How pricing stacks up: Third party comparisons in 2025 consistently place FP Markets among low cost ECN style brokers for FX on Raw accounts.
Deposit & Withdrawal Methods
Deposits: Bank wire, cards, and e-wallets (e.g Neteller, Skrill), plus cryptocurrency rails in many regions. FP Markets advertises 10 base currencies and instant funding on many methods via the Client Portal. Minimum deposit: typically $100.
Withdrawals: Requested in the Secure Client Portal to bank/card/e-wallets (method availability varies by country). Processing times depend on method and compliance checks some methods are same-day after approval, while bank wires can take days. Fees vary by method and currency.
Note on FP Markets withdrawal problems: As with most brokers, isolated complaints exist online about delays or documentary checks often KYC related or method-availability issues. These aren’t systemic, but you should match your funding/withdrawal method to your region and keep your account fully verified.
Customer Support
FP Markets offers multilingual support via live chat, email, phone, and call back, with 24/7 coverage promoted group wide (many independent tests still describe practical availability as 24/5 during trading days). Response times are generally fast, though depth/quality can vary by agent.
Security & Fund Protection
- KYC/AML: Standard identity and address verification before funding/withdrawing.
- Data Security: SSL-secured client portal and platform logins (industry standard).
- Segregated Client Accounts: Client funds are held separately from company operating funds (as required by top tier regulators).
- Negative Balance Protection (NBP): Jurisdiction dependent. Sources indicate NBP is provided to EU/Cyprus retail clients it may not be available under ASIC or certain offshore entities. Always confirm with your onboarding entity.
User Experience & Online Reputation
- Trustpilot: ~4.9/5 TrustScore from 9,000+ reviews in 2025, with praise for customer service and fast withdrawals a minority cite friction during verification/withdrawals common to regulated brokers.
- ForexPeaceArmy (FPA): Mixed forum threads: plenty of positive trading feedback alongside occasional disputes (some resolved). FPA is useful for due diligence but contains unverified anecdotes alongside verified cases.
- Independent reviewers: FXStreet, ForexBrokers.com and others rate FP Markets well for low costs and platform choice, noting IRESS is powerful but more suitable for active equity traders and may carry additional data/platform costs.
Pros & Cons
- Broad regulatory coverage (ASIC, CySEC, FSCA, FSA-SC, FSC-MU).
- Low-cost Raw pricing: ~0.1-pip EUR/USD + $6/lot round-turn.
- $100 minimum deposit wide funding options, many base currencies.
- Rich platform stack: MT4/MT5, cTrader, TradingView, WebTrader, plus proprietary app.
- Copy trading hookups (Myfxbook AutoTrade, Signal Start) and MAM/PAMM.
- 24/7 multilingual support promoted fast chat/phone in tests.
- Protections vary by entity (e.g., NBP not universal leverage caps differ).
- IRESS access/market data may add fees best for experienced share-CFD traders.
- U.S. clients not accepted.
- Some reports of withdrawal/verification friction (case-by-case).
- Crypto/stock availability varies by region/platform.
- NBP clarity requires checking your specific entity before funding.
FAQs
1) What is the FP Markets minimum deposit?
$100 (or equivalent) for both Standard and Raw accounts.
2) Which platforms does FP Markets support?
MT4, MT5, cTrader, TradingView (plus WebTrader and a proprietary mobile app). IRESS is available for DMA share-CFDs in certain regions.
3) Is FP Markets legit or scam?
FP Markets is multi-regulated (ASIC, CySEC, FSCA, FSA-SC, FSC-MU) with transparent pricing and strong user ratings it is legit, not a scam. Protections vary by entity, so pick the regulator that matches your needs.
4) How fast are deposits and withdrawals?
Many card/e-wallet deposits are instant withdrawals depend on method and KYC status (from same day to a few business days). Fees depend on method/currency.
5) Does FP Markets offer negative balance protection?
Yes for EU/Cyprus retail clients not universal under other entities (e.g., ASIC). Confirm with your onboarding entity before funding.
6) Are there FP Markets withdrawal problems?
Mainly isolated, KYC-related or method availability issues reported online ensure your account is fully verified and you use a supported method in your region.
Final Verdict
Is FP Markets legit or scam? Based on licensing under ASIC (286354), CySEC (371/18), FSCA (50926), FSA Seychelles (SD130), and FSC Mauritius (GB21026264), long operating history (since 2005), and consistently competitive pricing, FP Markets is a legitimate, well regulated broker not a scam. That said, your protections and leverage limits differ by entity, and NBP is not universal, so choose your onboarding jurisdiction carefully.
Who is FP Markets best for?
- Beginners seeking a low minimum deposit and simple Standard pricing.
- Intermediate/advanced traders who want Raw spreads (~0.1-pip EUR/USD + commission) for scalping, EAs, and high-frequency strategies.
- Share-CFD/DMA traders (especially in Australia) who can leverage IRESS for direct market access.
Bottom line for this FP Markets broker review: If you value tight spreads, platform choice (MT4/MT5, cTrader, TradingView), and fast execution, FP Markets deserves a spot on your shortlist of the best forex broker trading platforms in 2025 particularly on the Raw account. Ensure you understand your local entity’s rules (NBP, leverage, product availability) and confirm fees and funding methods before you start.
