✓Verified✕Not on the register○Claimed, not verified / Cannot be verified◇Technology partner◆Authorised representative◐Limited scope
Register-Verified5/5 licences checked
Founded2005
HQSydney, Australia
AccountsStandard: spreads from 1.0 pips, zero commission. Raw: spreads from 0.0 pips, US$3 per lot per side ($6 round-turn). Both on MT4, MT5, cTrader. Max leverage 1:30.
Min Deposit
$100
Spread From
0.0 pips
Leverage
CySEC 1:30ASIC 1:30
Platforms
MT4MT5cTraderWebTrader
What these checks prove
SCB
First Prudential Markets (Global) Ltd appears on Securities Commission of The Bahamas's register. Matched on the company name, which is the only identifier this register publishes. Securities Commission of The Bahamas publishes no status field, so this confirms the firm appears on the register and not that its licence is currently in force. The Securities Commission of The Bahamas publishes its licensees as a monthly PDF list carrying neither licence numbers nor any status, so a SIA-F number quoted by a broker cannot be checked against it.
FSCA
FP Markets (Pty) Ltd holds a Financial Sector Conduct Authority authorisation for Category I derivative instruments, intermediary other only: an intermediary licence for derivatives, not a dealing licence.
CMA
FP Markets Limited appears on Capital Markets Authority's register (licence 193). Kenya's Capital Markets Authority publishes no status field, and its licence numbers are issued per licence class and reused once a firm is removed, so a number on its own identifies a class of authorisation rather than a company.
FSA
First Prudential Markets Limited appears on Financial Services Authority's register. The Seychelles FSA publishes neither licence numbers nor firm status. A firm that loses its licence is simply removed from the list, on no published schedule.
UAE CMA
FP Markets MENA Securities L.L.C S.O.C holds UAE Capital Market Authority licences for introduction and promotion: introducer/promoter only, not a trading licence.
FP Markets earns an EF Score of 8.7/10. Five verified regulatory licences, raw spreads from 0.0 pips, and a platform roster spanning MT4, MT5, and cTrader anchor the offering. Mobile trading is the weakest pillar, and swap-rate transparency has room to grow. If you value tight pricing and platform flexibility over a polished phone-first experience, FP Markets belongs on your shortlist.
Pros
✓Raw spreads from 0.0 pips on forex
✓Regulated across five verified jurisdictions
✓MT4, MT5, cTrader and WebTrader available
✓No deposit or withdrawal fees charged
✓Leverage up to 1:500 (Seychelles), 1:400 (Kenya)
Cons
✗Demo account limited to 30 days
✗No investor compensation under ASIC entity
✗Minimum deposit varies by entity
✗Iress accounts require $1,000 minimum balance
How we reviewed FP Markets: Spreads, fees, and leverage figures are pulled directly from the broker's published account-type pages. Licence numbers were checked against each regulator's own public register, with verification dates noted. Consumer sentiment data was collected from Trustpilot, Google Reviews, Myfxbook, TradingView, and ForexPeaceArmy. For the full methodology, see EngineForex's "How We Review Brokers" page. Read our full methodology →
Level 01 / 09▸ Overview
Overview
Captured October 2026, fpmarkets.co.za
FP Markets is a Sydney-headquartered forex and CFD broker operating through a group of regulated entities spanning multiple jurisdictions. It offers CFD products across seven asset classes with an emphasis on tight spreads, deep liquidity, and fast execution.
The group maintains offices in several locations. Its Cyprus entity (First Prudential Markets Ltd) is registered at 109 Georgiou Griva Digeni, Limassol. A Kenya office sits at Kose Heights, Hurlingham.
This multi-entity structure lets FP Markets serve clients under different regulatory frameworks depending on their region.
What matters more is whether the numbers and regulatory record support it, and the rest of this review puts those claims under scrutiny.
Who it is for: Traders looking for a multi-asset CFD broker with raw-spread pricing, multiple platform choices, and round-the-clock multilingual support.
FP Markets describes its guiding principle as "Transforming Trading," which it says is embedded in everything it does, from building scalable financial technology to delivering 24/7 multilingual support.
Level 02 / 09★ Safety
Trust & Regulation
Captured October 2026, fpmarkets.com
FP Markets earns a trust score of 99/100 (Grade A). That number reflects a multi-entity corporate structure backed by five verified regulatory licences across both top-tier and offshore jurisdictions. The broker has been headquartered in Sydney since 2005, giving it over two decades of continuous operation.
What licences does FP Markets hold?
FP Markets holds 5 licences from 7 regulators.
First Prudential Markets Pty Ltd, ASIC AFSL 286354: Australian clients. Verified on the register, 27 October 2026.
First Prudential Markets Ltd, CySEC CIF 371/18: EU clients. Verified on the register, 13 September 2026.
FP Markets Limited, CMA Kenya licence 193: Kenyan clients. Verified on the register, 27 October 2026, listed as "FP Markets Limited".
First Prudential Markets (Global) Ltd, SCB: international clients. Verified on the register, 22 October 2026.
First Prudential Markets Limited, FSA Seychelles: international clients. Verified on the register, 21 October 2026, listed as "First Prudential Markets Limited".
Non-trading licences: FP Markets (Pty) Ltd holds a Financial Sector Conduct Authority authorisation for Category I derivative instruments, intermediary other only: an intermediary licence for derivatives, not a dealing licence. FP Markets MENA Securities L.L.C S.O.C holds UAE Capital Market Authority licences for introduction and promotion: introducer/promoter only, not a trading licence.
How are client funds protected?
Retail client funds are segregated from firm capital and held at leading banks, with financial accounts audited by external firms. Segregation means the broker cannot use your deposits to fund its own operations. That applies across all entities.
If you trade under the CySEC-regulated entity (First Prudential Markets Ltd), the Investor Compensation Fund (ICF) provides statutory cover of up to EUR 20,000 per eligible client (90% of the covered claim, capped at that figure). This matters if the firm becomes insolvent. It is not protection against trading losses.
Under the ASIC-regulated entity, no statutory retail investor-compensation scheme exists for OTC derivatives. Segregation of funds is the primary safety layer for clients under that entity.
Clients under the SCB, FSA Seychelles, or CMA Kenya entities should note that offshore jurisdictions typically do not offer equivalent investor compensation schemes.
Company history and reputation
Founded in 2005, FP Markets has over two decades of operating history. That longevity, combined with dual top-tier oversight from ASIC and CySEC, is the biggest driver of its high trust score.
Consumer sentiment skews strongly positive. The broker holds a 4.8 out of 5 on Trustpilot from over 10,300 reviews (94% five-star), a 4.9 out of 5 on Google Reviews from approximately 2,100 reviews, and a 4.6 on Myfxbook.
TradingView's broker community rates it 4.0. ForexPeaceArmy, which tends to attract a more critical user base, rates it 2.901 out of 5 from 179 reviews.
That is not the full picture. Verified complaint threads on ForexPeaceArmy document account terminations citing "abusive trading" allegations, profit confiscation, and withdrawal denials.
At least two of those threads are marked as resolved. TradingView reviews also flag intermittent platform connectivity issues, order cancellations, and TradingView integration latency.
One notable flag: in October 2024, the UK FCA published an unauthorised firm warning against an entity using the FP Markets name and website. This appears to relate to a then-existing offshore entity registered in St. Vincent and the Grenadines rather than the regulated ASIC or CySEC entities. Still, it is part of the broker's public regulatory record and worth knowing.
EngineForex Trust Score
FP Markets: 99/100 (Grade A)
Component
Score
Note
Regulator tier coverage
40/40
1 tier-1 licence
Number of regulators
15/15
5 regulators
Years of operation
15/15
21 years (10+)
Trustpilot rating
19/20
4.8/5
Trustpilot review volume
10/10
10,379 reviews (1000+)
*Computed deterministically from verified register reads, founding year, and live Trustpilot data. See EngineForex's "How We Review Brokers" for the full methodology.*
▸ At a Glance
Category
Score
Why
Trust & Safety
9.9/10
ASIC (AFSL 286354) plus CySEC (CIF 371/18), SCB, FSA Seychelles, CMA Kenya; segregated funds, ICF cover under CySEC, 21 years operating.
Fees & Spreads
7.5/10
Raw spreads from 0.0 pips, Standard from 1.0 pips zero commission, no deposit or withdrawal fees on broker's side.
Platforms & Tools
8.5/10
MT4, MT5, cTrader, WebTrader, TradingView integration; all on desktop, web and mobile.
The Standard account carries zero commission because trading costs are built into the spread. Below is a breakdown of how those costs work across account types and instruments.
Spreads
An ECN (Electronic Communication Network) pricing model means the broker aggregates quotes from multiple liquidity providers and passes them through with minimal markup (on the Raw account) or a wider spread that replaces the commission (on the Standard account). FP Markets uses this model. Spreads are variable, so the figures below are minimums, not guarantees.
Notice the gap between the "from" number and the "indicated live" number. Gold on the Raw account is listed with a minimum of 0.0 pips, yet the indicated live spread on the same page is 0.2 pips. The same pattern holds for major FX pairs on the Raw account.
Note that MT5 and cTrader equities may carry separate commission terms, so check the terms and conditions for your specific entity.
Swap and Overnight Charges
Specific swap rate values (the cost of holding a position overnight) are not published on the main pricing pages. FP Markets references a dedicated Forex Swap Rates page in its site navigation for instrument-level overnight financing charges.
This is a transparency gap worth noting if you tend to hold positions for days or weeks, since overnight costs can erode returns significantly over time. As a practical workaround, you can view live swap rates for any instrument inside the MT4 or MT5 terminal by right-clicking a symbol in Market Watch and selecting Specification.
FP Markets does not publicly list an inactivity or dormancy fee on its terms and conditions pages.
For funding, the broker offers $0 fee-free funding options, charging no deposit fees on its side (0%). Third-party or intermediary bank charges may apply, and bank wire charges may apply for certain transactions.
On the withdrawal side, FP Markets itself charges no withdrawal fees, but intermediary bank fees for international transfers are your responsibility.
MT4 and MT5 deliver the charting and automation tools most forex traders expect. MT4 supports Expert Advisors (EAs), automated trading scripts that execute trades based on predefined rules.
MT5 adds more timeframes, a built-in economic calendar, and additional order types including buy stop limit and sell stop limit. Both are available as downloadable desktop clients, browser-based WebTrader versions, and mobile apps for iOS and Android.
TradingView integration is listed for select entities. This gives you access to TradingView's community-built indicators and Pine Script automation directly linked to your FP Markets account.
For equities-focused traders, Iress Trader provides DMA (Direct Market Access) to share CFDs with deeper market data tools.
FP Markets also bundles third-party add-ons depending on the entity you register with: Autochartist, Trading Central, Myfxbook for copy trading, Traders Toolbox, MAM/PAMM account management, VPS hosting for EAs and auto-trading, and Social Trading.
Level 05 / 09▸ Instruments
Tradable Instruments
What can you trade with FP Markets?
FP Markets offers over 10,000 CFDs across seven asset classes: Forex, Shares, Metals, Commodities, Indices, Cryptocurrency, and ETFs. Some entity pages also list Bonds as an eighth category.
Metal CFDs include gold, silver, platinum, palladium, copper, lead, zinc, nickel, and aluminum, tradeable against the US Dollar, Euro, British Pound, Australian Dollar, and Chinese Renminbi.
Commodity CFDs cover oil, gas, corn, and sugar.
Index CFDs feature major benchmarks such as the NASDAQ 100 and S&P 500.
Cryptocurrency CFDs include Bitcoin, Ethereum, Litecoin, and a selection of altcoins.
ETF CFDs round out the core offering.
The MT4 platform page references 800+ CFDs. The full 10,000+ figure is reached primarily through MT5 or Iress, where share CFDs significantly expand the list.
Entity-level differences matter. Pages served to international and Kenya-based entities list Bonds alongside the seven CFD classes, while CySEC entity pages do not. Availability of specific instruments, particularly cryptocurrency CFDs, can vary by regulated entity.
Check the product schedule for the entity you register under before assuming access to everything.
Risk note:74.51% of retail investor accounts lose money when trading CFDs with FP Markets' CySEC-regulated entity. Pages served under the Kenya and international entities disclose a range of 75 to 95%. These figures reflect different regulated entities, not a factual discrepancy.
Share CFDs are a significant part of the count, though FP Markets does not publish a standalone figure for equity CFDs on the pages reviewed.
Maximum leverage ranges from 1:30 (EU) under CySEC to 1:500 (Seychelles) under the FSA Seychelles entity, depending on which regulated entity holds your account.
The choice between Standard and Raw comes down to how you prefer to pay for execution. Standard wraps the cost into a wider spread. Raw gives you tighter pricing but adds a per-lot commission.
If you trade frequently and in size, the Raw account's total cost per trade is typically lower. If you prefer simplicity and trade smaller volumes, the Standard account avoids the mental arithmetic of adding commissions to your spread.
Both accounts support swap-free (Islamic) versions on MT4, MT5, and cTrader, with no swap or interest charges. Instead, a nightly administration fee applies after a 5-night grace period on selected instruments including EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CAD, USD/CHF, NZD/USD, and XAU/USD.
Triple-swap nights are absorbed by FP Markets, so you are never charged at triple rate.
Maximum leverage ranges from 1:30 under CySEC to 1:500 under the Seychelles and FSCA entities, depending on which regulated entity holds your account.
Iress accounts
For share CFD trading, FP Markets offers two core CFD account types, Iress-based accounts for share CFD trading, and Islamic (swap-free) variants via Iress Retail and Iress Wholesale/Professional accounts. Both require a minimum balance of $1,000. Iress Retail charges ASX brokerage of $6 minimum then 0.06%, with financing at FP Markets Base Rate +3.0%.
Iress Wholesale/Professional offers lower ASX brokerage at 0.05% with no minimum, and financing at Base Rate +2.0%. Both carry a platform fee of $60 (inc. GST), waived when you generate $150 or more in commissions per month.
Demo account
A free 30-day demo account is available. It provides a risk-free environment to explore the platforms and test strategies before committing real money. Thirty days is not unlimited, so plan your testing accordingly.
FP Markets does not publish a definitive list of supported base currencies on its account-type pages, so check during registration which currencies are available for your entity to avoid unexpected conversion charges.
Sponsored
Level 07 / 09▸ Deposit
Deposits & Withdrawals
What deposit and withdrawal methods are available?
E-wallet deposits can be credited in up to one hour, and withdrawals via e-wallets are typically processed within a single business day, making them the fastest route on both sides. Card withdrawals can stretch to 10 days because the timeline depends on the receiving bank, not FP Markets.
FP Markets charges no deposit or withdrawal fees on its side. Intermediary bank fees for international transfers are your responsibility. International wire withdrawals require that all correct documents are received before the five-business-day processing window begins.
The exact method lineup can vary by entity; for example, the Japanese-facing entity lists only bank wire and broker-to-broker transfers, while another adds e-wallets and crypto alongside cards and wires.
Level 08 / 09▶ Education
Research & Education
What research and learning resources does FP Markets provide?
The education side is genuinely broad. The FP Markets Academy covers content for both beginner and advanced traders: trading courses, platform tutorials, a trading glossary, technical analysis, and fundamental analysis lessons.
Format variety is a strength, with webinars, podcasts, a Traders Hub Blog, and video-based learning alongside written guides. Live seminars are also offered for traders who prefer real-time instruction.
The trading tools suite includes Autochartist, Trading Central, Myfxbook, Signal Start, Traders Toolbox, and an economic calendar. One limitation: there is no published detail on webinar frequency or whether podcast episodes follow a set schedule.
Level 09 / 09★ Support
Customer Support
How does FP Markets handle customer support?
FP Markets provides 24/7 multilingual customer support across all its entities, with live chat, phone, and email as the primary contact channels.
Language coverage is extensive, with FP Markets listing support in 18 languages, including Arabic, Mandarin, Spanish, Portuguese, French, German, Italian, Russian, Japanese, Korean, Thai, Vietnamese, Indonesian, Malay, Polish, Dutch, Greek, and Hungarian.
No specific complaint-handling procedure or escalation policy is detailed in available materials. If you need to file a formal complaint, contacting the support team directly via email is the logical starting point, though the broker does not publish a dedicated complaints page or resolution timeline from the sources reviewed.
▸ Our Verdict
Our Verdict on FP Markets
EF SCORE
8.1 /10
FP Markets earns an EF Score of 8.7/10. That places it firmly in the strong category.
The broker's strongest pillars are its platform lineup, investment range, and customer support, all scoring 5/5. Raw ECN spreads start from 0.0 pips with no deposit or withdrawal fees charged on the broker's side. Headquartered in Sydney, the broker operates through a multi-entity structure with verified licences from ASIC (AFSL 286354), CySEC (CIF 371/18), CMA Kenya (licence 193), FSA Seychelles, and the SCB Bahamas, and it earns a Trust Score of 99/100. Client funds are segregated, with CySEC clients covered by the Investor Compensation Fund up to EUR 20,000.
Three pillars pull the overall score down. Mobile trading is the weakest area at 3/5, which matters if you plan to manage positions primarily from your phone. Fees could be stronger; while raw spreads are competitive, swap rates are not itemised transparently on the main pricing pages.
Research also sits at 4/5, suggesting the in-house analytical toolkit has room to grow in depth or frequency.
On the regulatory side, FP Markets claims FSCA (South Africa) licence FSP 50926 and Securities and Commodities Authority (UAE) licence CP-0001751, though neither could be verified against the respective registers at the time of research.
Best for: Active forex and CFD traders who prioritize raw ECN spreads, platform variety, and responsive multilingual support across multiple regulatory jurisdictions.
Skip if: You trade almost exclusively on mobile and need a polished, full-featured app experience, or you rely heavily on broker-provided research and analysis to guide your decisions.
Overall, FP Markets delivers a well-rounded package: tight pricing, broad market access across seven asset classes, and robust regulation across multiple jurisdictions.
Steffen Droell is the chief editor of Engine Forex. He set the scoring methodology every broker on the site is measured against, and he signs off on each review before it publishes, including checking every licence number against the regulator's own public register.
Published Oct 30, 2026
Frequently Asked Questions
Yes. FP Markets operates through multiple regulated entities across several jurisdictions. Verified licences include ASIC (AFSL 286354) held by First Prudential Markets Pty Ltd, CySEC (CIF 371/18) held by First Prudential Markets Ltd, CMA Kenya (licence 193) held by FP Markets Limited, a Securities Commission of The Bahamas licence held by First Prudential Markets (Global) Ltd, and FSA Seychelles held by First Prudential Markets Limited. The broker also holds a Financial Sector Conduct Authority intermediary authorisation in South Africa (FSP No. 50926, held by FP Markets (Pty) Ltd) and UAE Capital Market Authority introducer/promoter licences; neither is a dealing licence. Retail client funds are segregated from firm capital and held at leading banks across all entities. The broker also claims regulation by the Financial Sector Conduct Authority in South Africa (FSP No. 50926, held by FP Markets (Pty) Ltd) and the Securities and Commodities Authority in the UAE (licence CP-0001751), though we could not independently verify those two against their respective registers at the time of review.
The minimum deposit for FP Markets' MT4/MT5 accounts is 100 AUD or equivalent. Some geo-targeted pages show a $50 minimum deposit for the CySEC entity, while others state no minimum deposit required. Because the figure depends on which entity you open your account with, check the account-opening page that applies to you.
FP Markets offers two main account types. The Standard account has spreads from 1.0 pips with zero commission, as the cost is built into the spread. Gold (XAUUSD) on the Raw account carries a minimum spread of 0.0 pips with an indicated live spread of 0.2 pips. FP Markets charges no deposit fees and no withdrawal fees on its side, though third-party or intermediary bank charges may apply.
The maximum advertised leverage is up to 1:500 (Seychelles), available through the broker's offshore and FSCA South Africa entities. Leverage caps differ by regulatory jurisdiction: the CySEC entity is capped at 1:30 (EU), the CMA Kenya entity allows up to 1:400 (Kenya), and the FSA Seychelles entity allows up to 1:500 (Seychelles). Your available leverage depends on which regulated entity holds your account. Leverage caps differ by regulatory jurisdiction: the CySEC entity is capped at 1:30 (EU), the CMA Kenya entity allows up to 1:400 (Kenya), and the FSCA South Africa entity allows up to 1:500 (South Africa).
Yes. FP Markets provides a free 30-day demo account so you can practise trading without risking real capital. The demo is available on its supported platforms.
Yes. FP Markets offers Islamic swap-free versions of both Standard and Raw accounts on MT4, MT5, and cTrader. Instead of swap or interest charges, a nightly administration fee applies, with a 5-night grace period on selected instruments including EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CAD, USD/CHF, NZD/USD, and XAU/USD. On triple-swap nights (Wednesday and Friday), FP Markets absorbs the cost rather than charging the administration fee at a triple rate.
FP Markets accepts bank wire transfers (local and international), Visa and Mastercard credit/debit cards, e-wallets (Skrill and Neteller), cryptocurrency, and broker-to-broker transfers. Credit and debit card deposits are processed in real time. E-wallet deposits can be credited in up to one hour. For withdrawals, Skrill and Neteller take one business day, credit/debit cards take 2 to 10 business days depending on the bank, and international bank wires take up to 5 business days once documentation is complete. FP Markets charges no deposit or withdrawal fees on its side, though intermediary bank fees for international transfers are the client's responsibility.
