FP Markets Review Australia 2026

FP Markets at a glance: 17 key facts

FP Markets covers 17 key facts below, starting with ASIC AFSL 286354, five trading platforms, and an A$100 minimum deposit on the Standard and Raw accounts.

Those 17 rows frame the cost detail below, where the Raw spread and the round-turn commission carry most of the weight.

FP Markets spreads and commission, measured

FP Markets spreads on the Raw account averaged 0.46 pips across the eight-pair basket and 0.14 pips on EUR/USD, captured May to June 2026, rolling 24-hour, IceFX SpreadMonitor, London VPS. Commission runs A$3.50 per side, A$7.00 round turn.

Raw account for active traders

The Raw account prices EUR/USD from an advertised 0.0 pips and measured 0.14 pips across that window, on A$3.50 per side on an AUD-denominated MT4 or MT5 account. Commission scope matters here: A$3.50 per side covers the AUD-base MetaTrader route only, and cTrader Raw accounts and USD-denominated accounts bill US$3.00 per side instead. Across the full eight-pair basket, FP Markets placed equal twelfth tightest of the raw accounts we tested. The same May to June 2026 capture window ranks the lowest spread brokers across the Australian field.

Standard account for casual traders

The Standard account uses spread-only pricing with no commission, and measured 1.24 pips on EUR/USD and 1.56 pips across the eight-pair basket in that same window. Spread-only pricing suits infrequent trading and keeps a commission line off the statement. Traders placing more than a handful of orders a week pay less on the Raw account.

IRESS account pricing

The IRESS account is priced separately from the two forex accounts. IRESS share-CFD commission starts at A$10 per trade or 0.10% of trade value, whichever is greater, for retail clients on the standard tier, and international commissions vary by exchange. The IRESS platform fee is waived above a monthly activity threshold, and otherwise a small monthly fee applies.

What it costs to trade with FP Markets

FP Markets prices one standard lot of EUR/USD at A$7.00 round turn on the Raw account, before spread. The total cost of trading with FP Markets on the advertised from-rate reads 0.55 pips, the cheapest row in the table below.

The commission equivalent converts A$3.50 per side into pips at an AUD/USD rate of 0.65, and that conversion sits behind every figure in the third column. The table totals rest on the advertised floor rather than on the measured average, so the 0.14 pips measured on EUR/USD above runs wider than the 0.10 pip row here.

Other fees to check

• Overnight swap rates apply to positions held past 5 PM New York time and vary by direction.
• Currency conversion costs 0.50% on positions or share-CFD trades denominated outside Australian dollars.
• No withdrawal fee applies on most methods, though international bank transfers attract a correspondent bank fee.
• No inactivity fee applies, which separates FP Markets from most of the larger ASIC-regulated brokers.

FP Markets trading platforms

FP Markets trading platforms number five, covering MT4, MT5, cTrader, TradingView and IRESS Trader on a single broker relationship. That line-up spans two MetaTrader builds, a native cTrader stack, TradingView execution and one institutional platform.

MetaTrader 4

MT4 remains the forex platform with the deepest third-party indicator ecosystem and full expert advisor support, and the FP Markets build runs through the same Raw pricing engine as MT5 and cTrader, so spreads and commission match.

MetaTrader 5

MT5 suits traders running newer expert advisors or multi-asset strategies, and adds indices, equities and futures alongside the MQL5 programming environment.

cTrader

The cTrader platform carries 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, which places FP Markets among the cTrader brokers in Australia compared on this site.

TradingView

TradingView execution runs on a linked cTrader ID and a TradingView Pro or Premium subscription, so charting stays inside the TradingView interface while the order routes to FP Markets. That platform integration puts FP Markets among the TradingView brokers covered here.

Copy and social trading

Copy trading at FP Markets runs through cTrader Copy rather than a proprietary network, and the provider fee comes off the return on top of Raw spreads and commission. FP Markets operates no social network of its own, a thinner offer than eToro for copy-first traders.

Mobile apps

MT4, MT5, cTrader and IRESS all ship mobile apps, and the TradingView app covers iOS and Android. The cTrader and MT5 mobile apps carry the most depth for active forex trading.

FP Markets IRESS Trader and DMA-priced share CFDs

FP Markets routes DMA-priced share CFDs through IRESS Trader, on a separate account carrying an A$1,000 minimum deposit, ten times the Standard and Raw floor. The instruments are DMA-priced share CFDs, not real-share purchase or custody.

IRESS Trader is the institutional platform most Australian stockbrokers use, and FP Markets offers it for direct-market-access pricing on ASX-listed and international share CFDs. Pepperstone, IC Markets, Fusion Markets and Eightcap carry no DMA share-CFD route at all. The account opens on a separate application under the same AFSL conditions, and a demo of the interface is worth requesting first, because IRESS carries more depth than a first-year trader needs.

FP Markets lists more than 10,000 share CFDs across ASX, NYSE, NASDAQ, LSE and the major EU exchanges, and the IRESS route prices them at market rather than on a market-maker book. DMA pricing is one route into share CFD trading in Australia, and the limit holds throughout: an IRESS position is a contract for difference priced off the underlying market, with no holding and no settlement of the share itself.

Is FP Markets safe? ASIC AFSL 286354

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, alongside CySEC and FSCA licences listed in the quick-facts table.

ASIC regulation and global licences

The licence has run unbroken since 2005, which few Australian-founded CFD brokers match. The register at the Australian Securities and Investments Commission records it as current. No material ASIC enforcement action and no additional licence condition has been imposed in the last 36 months.

Beyond Australia, FP Markets also holds:

• CySEC (Cyprus, EU), Tier 1
• FSCA (South Africa), Tier 3
• FSA (Seychelles, SD130) / St Lucia, offshore, used for wholesale clients only

The offshore Seychelles and St Lucia entity applies only to clients who qualify as wholesale. Retail traders are steered away from that path on this site.

FP Markets client money protection and AFCA membership

FP Markets client money protection runs through segregated accounts at an Approved Australian Bank, with negative balance protection on retail accounts and AFCA membership for disputes.

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 a retail account 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. The Compensation Scheme of Last Resort sits behind that with an A$150,000 cap, excluding CFD trading losses, so it covers unpaid awards for misconduct rather than losing trades.

Every protection above attaches to the ASIC-licensed Australian entity, and the Seychelles and St Lucia entity FP Markets runs for wholesale clients sits outside that AFSL.

History and ownership

FP Markets was founded in Sydney in 2005 by Matthew Murphie and has remained privately held and Australian-headquartered for two decades, which is unusual in this industry.

Public reviews

FP Markets holds a Trustpilot rating of 4.8 out of 5 from 10,241 reviews, which Trustpilot labels excellent, captured August 2026. The profile has been claimed by the broker since September 2017.

The positive reviews cluster on tight Raw spreads, IRESS share trading and onboarding, and the negative ones on withdrawal verification delays under standard AML checks and platform-choice confusion at signup.

What other review sites say

FP Markets' iOS app rates 2.71 out of 5 from 7 ratings on the Australian App Store (August 2026), listed as FP Markets Forex & CFD Trading.

TradingView users rate FP Markets 3.8 out of 5 from 2,424 ratings (August 2026). 23.8K TradingView users have connected a FP Markets account.

App Store AU

2.71

7 ratingsAugust 2026

TradingView

3.8

2,424 ratings23.8K Traders via TradingViewAugust 2026View on TradingView

FP Markets account types and minimum deposit

FP Markets account types number four, from an A$100 minimum deposit on Standard and Raw, and an A$1,000 minimum deposit on the IRESS account behind a separate application. The table below sets out all four and the minimum deposit against each.

Account options for Australian clients

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

The wholesale account requires the Corporations Act wholesale client criteria: net assets above A$2.5 million, or gross income above A$250,000 for two consecutive years, certified by a qualified accountant.

Minimum deposit

FP Markets requires A$100 to open the Standard or Raw account, and A$1,000 for the IRESS account. A starting balance of A$500 to A$2,000 leaves room for sensible position sizing on the Raw account. The renewable 30-day demo account covers MT4, MT5, cTrader and TradingView.

FP Markets funding methods and withdrawal times

FP Markets funding methods number seven in the table below, and none of them carries a deposit fee. Card and PayID deposits clear instantly or same day, and withdrawals process in one to three business days.

Deposit methods (Australian clients)

Withdrawals

No withdrawal fee applies on most methods. Withdrawals return to the source used for the deposit wherever possible, under AML rules. Withdrawals by card refund run 1 to 3 business days, bank transfer 1 to 2 business days, and PayPal usually the same day.

Account opening

Account opening runs fully online and AUSTRAC-compliant, on one identity document and one proof of address. Most Australian applications are approved within 24 hours, and often within an hour during business hours.

FP Markets markets and instrument counts

FP Markets markets span eight asset classes and more than 10,000 share CFDs, counted per class in the table below. CMC Markets and IG Markets match that breadth without the DMA-priced route.

Forex runs to more than 70 pairs and carries the full AUD major and minor set, which is what the Raw account is built around. Cryptocurrencies trade as CFDs only, at the ASIC 2:1 retail cap, and no tested FP Markets crypto spread is published on this site. ETFs run both as market-maker-priced CFDs and as DMA-priced CFDs through IRESS.

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. No measured FP Markets index spread is published here, so live platform pricing is the only figure to size a position against.

FP Markets leverage and margin under ASIC rules

FP Markets applies a maximum retail leverage of 30:1 to major forex pairs, with tighter caps on minors, indices, commodities and cryptocurrency. The FP Markets leverage ladder follows the regulator rather than the broker.

ASIC caps retail CFD leverage 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 they apply at every ASIC broker rather than at FP Markets alone. The 30:1 leverage ceiling is set out in the 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.

Wholesale clients reach up to 500:1 on forex and metals through the offshore Seychelles or St Lucia entity, on the tests set out in the account section above. The Australian licence carries no route to those tiers for retail clients.

Margin close-out is a regulator rule rather than a broker rule: ASIC requires every CFD issuer to close a retail client position once account equity 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 closes a position below the 50 per cent level.

FP Markets customer support

FP Markets customer support runs three channels, 24/7 live chat, 24/5 phone cover and email, and our testing recorded live chat answers in under 90 seconds through Australian business hours.

Phone support runs Monday to Friday Sydney time, aligned to the global trading sessions. Agent knowledge of platform features is strong, particularly on cTrader and IRESS. Support agents defer tax questions to a registered accountant rather than answering them, which is the correct handling on an Australian retail account.

FP Markets support languages cover English, Mandarin, Spanish, Arabic, Vietnamese and Italian, among others.

The 24/5 phone support window is the one real gap. A weekend margin or funding question reaches live chat only, and no telephone escalation runs from Friday evening to Monday morning Sydney time. Live chat support carries that window, and the sub-90-second response measured during business hours is why the gap costs less here than at a broker without round-the-clock chat.

FP Markets research, tools and education

FP Markets research covers six components in the list below, including the Trading Central feed, free on active accounts, and Autochartist pattern recognition. The stack runs lighter than the in-house desks at CMC Markets and IG Markets.

• Daily and weekly market analysis from in-house analysts
• Trading Central research feed, free for active accounts
• Autochartist pattern recognition, free to all clients
• Webinar programme covering forex, CFDs and share trading
• Beginner course material on the website
• Economic calendar and earnings calendar inside the platforms

The research stack suits traders past the beginner stage, where analyst commentary and pattern recognition cover the ground. The FP Markets education material sits closer to a reference set than to a curriculum, which leaves beginners wanting a structured course library better served elsewhere. The research feeds are third-party licences rather than proprietary work, and that is the substantive difference against the two larger desks.

How FP Markets compares to Pepperstone and IC Markets

FP Markets averaged 0.46 pips across the eight-pair basket, level with Pepperstone, and IC Markets ran tighter at 0.15 pips in the same window. The IRESS route to DMA-priced share CFDs remains the FP Markets difference.

The matching 0.46 pip basket spread belongs to Pepperstone, priced in full in the Pepperstone review. The tighter measured spread belongs to IC Markets, set out in the IC Markets review. Neither rival carries a DMA share-CFD route, so the comparison splits cleanly: FP Markets loses the spread contest to IC Markets, draws it with Pepperstone, and takes the asset-access contest outright.

Standard-account pricing runs the other way, at 1.24 pips measured on EUR/USD with no commission.

Should you open an FP Markets account?

An FP Markets account suits traders pairing raw forex pricing with DMA-priced share CFDs under one login, from an A$100 minimum deposit. Traders wanting native ASX share ownership are served better by Interactive Brokers.

FP Markets resolves differently for three reader types. An active forex trader who also wants ASX and global share CFDs on DMA pricing gets the strongest case on this site, because no other broker in the 32-broker set carries both under one login. A forex-only trader gets the weaker one, since the Raw account measured 0.46 pips across eight pairs and IC Markets measured tighter. The Standard account suits a beginner sitting between the two, at 1.24 pips on EUR/USD, with a renewable 30-day demo covering MT4, MT5, cTrader and TradingView.

Native ASX share ownership sits outside the CFD model, and is covered in the Interactive Brokers review. FP Markets ranks sixth of the 32 brokers set out in full on the guide to the best forex brokers in Australia.

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