FP Markets Review Australia 2026

Is FP Markets safe? ASIC AFSL 286354

Yes, FP Markets holds ASIC AFSL 286354 through First Prudential Markets Pty Ltd, ABN 16 112 600 281, continuously since the broker was founded in 2005.

First Prudential Markets Pty Ltd is the company an Australian retail account opens with, named on the declaration of our 24 August 2026 application. AFSL 286354 is the licence I would rely on.

FP Markets on the ASIC register

First Prudential Markets Pty Ltd holds AFSL 286354 on the register of the Australian Securities and Investments Commission, with status Current and a commencement date of 31 May 2005. Our check of that register was on 16 July 2026, and you can read the same entry yourself.

An account with any FP Markets company other than First Prudential Markets Pty Ltd sits outside AFSL 286354 and the Australian protections it carries. I would check that the account application names First Prudential Markets Pty Ltd before you fund it.

Before depositing, confirm FP Markets holds AFSL 286354 using the site's guide to checking a broker on ASIC's register.

Is FP Markets legal in Australia?

Yes, FP Markets is legal in Australia, serving local residents through First Prudential Markets Pty Ltd, licensed by ASIC under AFSL 286354.

FP Markets client money protection and AFCA membership

First Prudential Markets Pty Ltd gives retail accounts negative balance protection under ASIC rules, holds client money apart from company funds, and is an AFCA member for disputes.

FP Markets client money and negative balance protection

Segregated accounts hold retail client money apart from company funds. ASIC requires negative balance protection on retail CFD accounts, so the account you run cannot lose more than the money in it. AFCA hears claims up to A$1,263,000 and awards compensation up to A$631,500. Payments under the Compensation Scheme of Last Resort run up to A$150,000, but the scheme covers only personal advice, securities dealing and credit, and forex and derivatives trading, CFDs included, sit outside it.

Every protection above attaches to First Prudential Markets Pty Ltd under AFSL 286354. An account with any other FP Markets company sits outside it.

FP Markets’ AFCA member is First Prudential Markets Pty Ltd, which AFCA’s Datacube, read by our team on 27 September 2026, records with 13 complaints received in 2025-26 and not listed in 2024-25, under AFCA’s threshold of four or more complaints in the period.

• AFCA business size: Very small
• Not adjusted for client numbers
• AFCA listing threshold: Financial firms that received four or more complaints during the selected period appear in the AFCA Datacube. "Not listed" means the firm is below it.
• Middle of the field: 23 AFCA firms listed for 01/07/2025 - 30/06/2026 among the brokers this site covers, each firm counted once
• Source: AFCA Datacube, complaints by firm, read 27 September 2026

First Prudential Markets’ name history and Sydney address

First Prudential Markets Pty Ltd (ACN 112 600 281) holds AFSL 286354, commenced 31 May 2005, on the register captured on 16 July 2026. Its earlier name was First Prudential Pty. Ltd., from 31 May to 2 June 2005, and its principal place of business is Level 5, 10 Bridge Street, Sydney.

FP Markets Trustpilot rating

FP Markets holds a Trustpilot rating of 4.8 out of 5 from 10,382 reviews, which Trustpilot labels excellent, captured November 2026. The profile has been claimed by the broker since September 2017.

How popular is FP Markets in Australia?

Of the 33 brokers we review, FP Markets holds 15th place for search interest in September 2026, on 1,960 branded searches from Australia. Search interest measures attention, not quality; the score above is the review verdict.

15of 33Search interest rank

1,960

Brand searches, September 2026

+45.2%

vs August 2026

150

Login searches

1.3%

Share of all broker searches

Source: Google search volume, Australia, September 2026. How this is measured

What other review sites say about FP Markets

TradingView users rate FP Markets 4 out of 5 from 2,460 ratings (November 2026). 24.9K TradingView users have connected a FP Markets account.

TradingView

4

2,460 ratings24.9K Traders via TradingViewNovember 2026View on TradingView

What traders say about FP Markets

Public ratings of FP Markets from the rating sites that list it, showing the number of reviews or ratings behind each score and the month it was captured.

Rating site	Rating	Based on	Who rated	Captured
Trustpilot	4.8 out of 5	10,382 reviews	Worldwide	November 2026
TradingView	4 out of 5	2,460 ratings	Worldwide	November 2026

Each row above is a public rating of FP Markets taken from a rating site, dated to the month its figure was captured. A Trustpilot figure counts reviews and a TradingView figure counts ratings from anywhere in the world. The app store ratings for FP Markets sit in the apps section of this review, with the store screenshots. A site with no row has no rating for FP Markets, withholds it, cannot be matched to FP Markets with confidence, or we have not captured it yet.

FP Markets key facts

Below are the 15 key facts about FP Markets, starting with ASIC AFSL 286354, six trading platforms, and no minimum deposit on the Standard and Raw accounts, per FP Markets’ Australian FAQ, read 9 October 2026.

FP Markets spreads and commission, measured

FP Markets spreads on the Raw account averaged 0.38 pips across the eight-pair basket in our October 2026 capture, with commission at A$3.50 per side, A$7.00 round turn.

Noam Korbl captured the spreads across the full month of October 2026 from our London VPS servers with our CFB SpreadLogger, one read per second, on our funded MT5 Raw account ending 8500 (server FPMarkets-Live, First Prudential Markets Pty Ltd). EUR/USD averaged 0.08 pips. The round-turn commission is the number I would put in front of you before the cost comparison.

FP Markets’ Raw account on EUR/USD is what the hourly comparison lets you check hour by hour against the other published accounts. In our October 2026 capture, its lowest hourly average spread was 0.01 pips, reached in 6 of the 22 hours outside the rollover hour, and its whole-month average ran at 0.08 pips. The one hour to watch is the rollover, 8am to 9am Sydney time, where it averaged 4.55 pips. See the hours side by side when you compare FP Markets’ spreads by hour.

Raw account for active traders

The Raw account measured 0.08 pips on EUR/USD in our October 2026 capture, on A$3.50 per side on an AUD-denominated MT4 or MT5 account. A$3.50 per side covers the AUD-base MetaTrader route, while cTrader Raw and USD-denominated accounts bill US$3.00 per side (FP Markets’ AU pricing, verified 11 July 2026). Across the eight-pair basket FP Markets sat eighth of 12 raw accounts in that capture, at 0.38 pips. The same capture window ranks the lowest spread brokers across the Australian field.

FP Markets Standard account

The Standard account’s no-commission pricing measured 1.24 pips on EUR/USD and 1.56 pips across eight pairs in the May to June 2026 capture. Spread-only pricing suits infrequent trading and keeps a commission line off your statement. Place more than a handful of orders a week and you will pay less on Raw.

IRESS account pricing

Pricing on the IRESS account sits separately from the two forex accounts. Retail clients pay ASX brokerage of 0.06% with an A$6 minimum per trade, wholesale and professional clients pay 0.05% with no minimum, and financing runs at the FP Markets base rate plus 3.0% for retail and 2.0% for wholesale or professional, according to FP Markets’ Australian account-types page, read 9 October 2026. International commissions vary by exchange. The IRESS platform fee is waived above a monthly commission threshold, so check that threshold against the volume you expect.

Mottai carries the same ASX brokerage, 0.06% for retail clients and 0.05% for wholesale, plus an A$200 monthly platform fee and a required ASX price feed at A$25 a month, per FP Markets’ Australian Mottai page, read 9 October 2026. In any calendar month where you generate at least A$200 of trading commission, FP Markets rebates A$85 of the platform cost. For a low-volume trader, the fixed cost is A$225 a month, or A$140 in a month that earns the A$85 rebate. Reaching A$200 of commission at the 0.06% retail rate takes about A$333,000 of ASX trade value in that month.

What FP Markets costs per trade

MEASURED

Standard lots per month

15102550

Monthly spread cost converts pips to dollars using the EUR/USD pip value as the proxy for the 8-pair average, footnoted on-page. AUD pip value A$14.57 per standard lot at AUD/USD 0.6865 (11 Nov 2026).

Rawraw + commission · 8-pair average · October 2026

A$125.37

Standardspread only · 8-pair average · May to June 2026

A$227.29

Raw saves A$101.92 a month at this volume, comparing Raw prices from October 2026 with Standard prices from May to June 2026 (the October 2026 capture holds no FP Markets Standard account)

At 10 standard lots per month on Raw accounts, FP Markets costs approximately A$125.37 in spread and commission costs. Rates as of Wed 11 Nov 2026, 5pm New York close.

What it costs to trade with FP Markets

FP Markets prices one standard lot of EUR/USD on the Raw account at 0.57 pips all-in in our October 2026 capture. That total is 0.08 pips of measured spread plus 0.49 pips of A$7.00 round-turn commission.

EUR/GBP came to 0.64 pips all-in, and EUR/USD to 0.57, the smallest total of FP Markets’ eight pairs. The table below sets out the measured October 2026 Raw spread, the commission converted to pips and the all-in total for each of the eight pairs, and I would weigh that total against how often you trade before choosing Raw.

We converted the commission at the pip values per standard lot the terminals recorded in our October 2026 capture: A$14.24 on USD-quoted pairs, A$9.02 on yen pairs, A$18.85 on EUR/GBP and A$17.16 on USD/CHF. Across all eight pairs the all-in average came to 0.95 pips, eighth of 20 accounts on all-in cost in that capture.

Other fees to check

• Overnight swap rates apply to positions held past 5 PM New York time and vary by direction.
• No withdrawal fee applies on most methods, though international bank transfers attract a correspondent bank fee.
• No inactivity fee applies.

How FP Markets compares to Pepperstone and IC Markets

FP Markets averaged 0.38 pips across the eight-pair basket in our October 2026 capture, against 0.31 pips for IC Markets in the same window.

On a spread-first comparison, IC Markets measured tighter than FP Markets in the same October 2026 window. Where the tightest spread drives your choice, I would read that gap as decisive.

Pepperstone averaged 0.37 pips across the eight-pair basket in our October 2026 capture, and its Razor account is priced in full in our Pepperstone review. IC Markets’ 0.31 pips in the same capture is set out in the IC Markets review. My view is that a trader who wants DMA-priced share CFDs alongside forex can price the spread gap against FP Markets’ IRESS account, which offers DMA-priced share CFDs rather than share ownership.

FP Markets’ Standard account measured 1.24 pips on EUR/USD with no commission in the May to June 2026 capture.

FP Markets account types and minimum deposit

FP Markets offers Standard and Raw forex accounts with no minimum deposit, and separate IRESS and Mottai accounts for DMA-priced share CFDs from A$1,000, according to FP Markets’ Australian FAQ, read 9 October 2026.

The IRESS account needs its own application. The table below sets out the four accounts with their minimum deposits.

Account options for Australian clients

The Islamic swap-free account covers forex, metals, indices and commodities, with no share or crypto CFDs. It is commission-free on Standard and carries a small per-lot fee on Raw.

FP Markets minimum deposit

The Standard and Raw accounts have no minimum deposit, and the IRESS and Mottai accounts need A$1,000, per FP Markets’ Australian FAQ, read 9 October 2026. Its own footnote says retail clients still need enough to meet the margin requirement under leverage restrictions, and there is no minimum balance to keep an account open after the first funding. My view is that a starting balance of A$500 to A$2,000 leaves room for sensible position sizing on Raw. The MT5 web terminal on our live account offers an MT5 demo option (18 September 2026 capture).

FP Markets funding methods and withdrawals

FP Markets lists eight funding methods, and none of them carries a deposit fee.

All of them sit in the table below. The portal lists card processing as “Up to 1 working day”, and Noam’s A$200 Mastercard deposit was approved in the same sitting.

Deposit methods (Australian clients)

On 2 September 2026, Noam Korbl funded the live MT5 Raw account with an A$200 card deposit, run through three portal steps, 01 Choose Account, 02 Choose Payment Method, 03 Select Deposit Amount, under an “Important Deposit Information” notice telling you to match the deposit currency to the account currency. The card tile itself is labelled “Processing Time: Up to 1 working day”, and my reading of the record is that a card deposit landing the same sitting sits inside that stated window: the Praxis payment page returned “Transaction Approved” for 200 AUD that afternoon. The dashboard, captured fourteen seconds later, still read “Account Balance: AUD 0.00” because the page had not refreshed, while the MT5 web terminal read “Balance: 200.00” at the 18 September capture, and Noam’s record is that the credit was on the spot. Google Pay and Apple Pay also sit on the menu, each labelled “Instant - Up to 30 mins” with a $10 floor. Before you deposit, I would check one thing: that your account currency matches your deposit currency, per the notice, or the funds wait for manual processing.

FP Markets withdrawal times and fees

Most methods carry no withdrawal fee. Under AML rules, withdrawals return to the source used for the deposit wherever possible.

FP Markets account opening time and checks

The FP Markets application runs five stages online, and the portal stays locked behind padlocks until you finish them. Noam Korbl completed it on 24 August 2026, choosing MT5, Raw and AUD in one step, answering a one-attempt questionnaire, then entering Sumsub identity verification. His record puts the whole run at around 22 minutes. The account sits with First Prudential Markets Pty Ltd, login mask ****8500, and I read the frames as a well-ordered flow.

Stages 1 and 2 collect who you are and how you are funded. You choose between Individual, Joint, Corporate, Trust/SMSF Individual and Trust/SMSF Corporate structures, state whether you are a United States citizen or tax resident, then give your date of birth and address. Stage 2 asks the primary source of your trading funds, hardship in the past three years, your employment status, approximate annual income and savings, then your occupation. For the document number the portal notes: “If you are unable to input your DL or Passport number at this time, please input 0. Do note this will delay the time to verify your account and we will require an identity document to verify your identity.” In my view these questions are fair for a leveraged product, and the note tells you plainly to have your passport or licence number ready.

Stage 3 puts platform, account type and currency on one screen: you choose Metatrader 4, Metatrader 5, cTrader, TradingView or the DMA CFD Account, then Standard or Raw, then AUD or USD, before setting the portal password. Noam picked Metatrader 5, Raw and AUD, and I agree with his reading that grouping the choices makes the step easy to follow. Stage 4 is the suitability questionnaire, which warns: “You will only have 1 attempt so please read all of the questions carefully and answer them to the best of your ability.” It asks about your trading history, leverage and exposure, and whether share CFDs carry voting rights. The declaration then names First Prudential Markets Pty Ltd, lists nine documents including the Financial Services Guide and the Product Disclosure Statement, and finishes with the “ACCEPT AND OPEN ACCOUNT” button.

Verification runs through Sumsub straight after the declaration, with the option to continue on your phone by scanning a QR code. The portal shows “Pending Activation” until it clears, and no frame in our capture shows the moment it did; the next captured day, 2 September, the dashboard reads “Active”. No proof-of-address request appears on any frame. Noam’s record puts the whole run, sign-up to cleared verification, at around 22 minutes, and his assessment is that this is one of the cleaner Australian onboarding flows he has tested. My advice is to have your passport or driving licence number ready and to read the questionnaire twice, since it allows one attempt. The A$200 card deposit is recorded in the funding section above.

FP Markets trading platforms

One broker relationship covers six platforms: MT4, MT5, cTrader, TradingView, IRESS and Mottai. That line-up gives you two MetaTrader builds, a native cTrader stack, TradingView execution on the Raw account, IRESS for DMA-priced share CFDs, and Mottai, a web-based ASX execution platform built with FlexTrade, opened from A$1,000.

MetaTrader 4

MT4 remains the forex platform with the deepest third-party indicator ecosystem and full expert advisor support.

MetaTrader 5

Newer expert advisors or multi-asset strategies fit better on MT5. It adds indices, equities and futures alongside the MQL5 programming environment.

cTrader

cTrader delivers level 2 depth of book, advanced order types and a cleaner execution model than MT4, with cTrader Automate handling algorithmic strategies in C#. The same account reaches cTrader without a separate login, so you are not carrying a second set of credentials, which places FP Markets among the cTrader brokers in Australia compared on this site.

TradingView

Executing from TradingView requires an active FP Markets live or demo account and a TradingView profile, with login via your cTrader ID. Charting stays inside the TradingView interface while the order you send routes to FP Markets. That integration puts FP Markets among the TradingView brokers covered here.

FP Markets copy and social trading

FP Markets offers no copy trading to Australian clients, retail or wholesale, its support desk confirmed to our team on 1 October 2026, and it runs no social trading network of its own. In my view, copy-first traders should head to eToro.

FP Markets apps

FP Markets publishes two phone apps of its own: FP Markets’ own app and FP Markets cTrader. A client can also trade MT4, MT5, TradingView and IRESS from a phone.

FP Markets cTrader runs the cTrader platform, while MT4, MT5, TradingView and IRESS are used through those platforms’ own apps with the client’s FP Markets account details. For active forex trading from a phone, the cTrader and MT5 apps carry the most depth. Compare every broker’s store listing against the best trading apps in Australia.

• App Store: Australian storefront, exact figures from Apple's iTunes Search API
• Google Play: worldwide counts, not comparable with the App Store counts
• Third-party MetaTrader, TradingView and cTrader Ltd apps not listed

FP Markets IRESS Trader and DMA-priced share CFDs

FP Markets routes DMA-priced share CFDs through IRESS Trader on a separate account that requires an A$1,000 minimum deposit.

What you hold is a DMA-priced share CFD, not a real-share purchase or custody. The same A$1,000 minimum applies to the Mottai account.

Most Australian stockbrokers use IRESS Trader as their institutional platform, and FP Markets offers it for direct-market-access pricing on ASX-listed and international share CFDs. The account opens on a separate application under the same AFSL conditions, and I would request a demo of the interface first, because IRESS carries more depth than you are likely to need in a first year.

The list runs to more than 10,000 share CFDs, covering ASX, NYSE, NASDAQ, LSE and the major EU exchanges, and the IRESS route, FP Markets’ own DMA CFD Account, prices them at market. DMA pricing is one route into share CFD trading in Australia, and the limit holds throughout: an IRESS position you hold is a contract for difference priced off the underlying market, with no holding and no settlement of the share itself.

Mottai is a web-based ASX execution platform built with FlexTrade, and we have not tested it; this description comes from FP Markets’ Australian Mottai page, read 9 October 2026. Every client order is hedged in the underlying market instantly, with an ASX Level 2 price feed, and the feature list covers parked orders, hotkeys, one-click trading and Level 2 market depth. At launch it offers DMA CFDs on ASX-listed shares, with retail leverage on stocks at 5:1, and FP Markets keeps IRESS running alongside it. In my view Mottai suits an active ASX trader who wants order-entry speed and can carry the monthly fee, because the DMA routing and hotkey workflow only pay off at volume.

FP Markets leverage and margin under ASIC rules

FP Markets applies a maximum retail leverage of 30:1 to major forex pairs under ASIC rules, with tighter caps on minors, indices, commodities and cryptocurrency.

• Major indices: excludes DAX
• Minor indices: excludes CHINA50
• Given up with professional status: negative balance protection, the retail leverage limits, the 50% margin close-out
• Source: ASIC product intervention order (retail); FP Markets and its Australian support, read 30 September 2026 (professional)

The leverage ladder follows the regulator rather than the broker, which is preferable because it is consistent across the market.

FP Markets retail CFD leverage is capped at 30:1 on major forex pairs, 20:1 on minor pairs, gold and major indices, 10:1 on commodities other than gold, 5:1 on share CFDs and 2:1 on crypto assets. Those caps come from a product intervention order extended to 23 May 2027, so the cap you get applies at every ASIC broker rather than at FP Markets alone. The 30:1 leverage ceiling is set out in our guide to ASIC leverage caps.

IRESS positions are DMA-priced share CFDs rather than holdings, so the same CFD caps apply there, including the 5:1 retail cap on share CFDs.

ASIC, not the broker, sets margin close-out: it requires every CFD issuer to close a retail position once the equity in the account you run falls below 50 per cent of the total initial margin on all open positions. Netting positions against each other does not reduce that figure, and a gapping market can close a position below the 50 per cent level.

FP Markets markets and instrument counts

Eight asset classes and more than 10,000 share CFDs appear in the table below.

Forex runs to more than 70 pairs and carries the full AUD major and minor set, which is what I would build a Raw account around. Cryptocurrencies trade as CFDs only, at the ASIC 2:1 retail cap, and you will not find tested crypto spreads here. ETFs run both through IRESS, priced as DMA CFDs on FP Markets’ DMA CFD Account, and outside IRESS, where no execution model is on record.

Indices

The indices range spans the ASX 200 and S&P/ASX SPI 200 alongside the global majors listed above, capped at 20:1 for retail clients under the ASIC rules. We haven’t published measured index spreads here, so check live platform pricing to size a position.

FP Markets customer support

FP Markets customer support

FP Markets publishes 24/7 support by phone, email and live chat from a multilingual team, per its Australian contact page read on 7 October 2026. Australian clients can call 02 8252 6800, dial the toll-free line on 1300 376 233, or email support@fpmarkets.com. The office sits at Level 5, Exchange House, 10 Bridge St, Sydney.

Our team put email support to a light check on 1 October 2026 with two questions about copy trading on the ASIC entity. The first reply came in 31 minutes, the second in 55, and both were direct answers, signed by a named agent, with First Prudential Markets’ AFSL 286354 licence details in the footer. We did not test live chat or phone, and two replies on one day fall short of the full support test our methodology describes, so treat this as a small sample. Even so, I would say email looks like a dependable way to get an answer in writing from FP Markets, which matters to you when a dispute needs a paper trail.

FP Markets research, tools and education

FP Markets publishes daily and weekly market analysis, a Trading Central research feed, Autochartist pattern recognition, a webinar programme, beginner course material, and an economic calendar and earnings calendar. We have not assessed the research or education live, so this section states only what the broker publishes.

Should you open an FP Markets account?

FP Markets suits a trader pairing Raw forex pricing with DMA-priced share CFDs on a separate IRESS account, with no minimum deposit on Standard and Raw accounts, per FP Markets’ Australian FAQ, read 9 October 2026. A forex-only trader focused on cost gets a weaker case, since the Raw account averaged 0.38 pips across eight pairs in our October 2026 capture and IC Markets measured tighter in the same window.

Native ASX share ownership sits outside the CFD model, and that is covered in the Interactive Brokers review. FP Markets ranks seventh on our guide to the best forex brokers in Australia. Before you fund an account, I would try the MT5 demo on the web terminal.

Open an FP Markets demo → (affiliate link, see our advertiser disclosure)