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Brokers · Review
FP Markets Review (2026)
Is FP Markets a good MT4 broker? An in-depth, honest look at its Raw ECN pricing, real costs, platforms, regulation, and who it suits — with the trade-offs laid out plainly.
FP Markets is a long-established, ECN-style broker that has built its name on tight raw spreads and a fast, MetaTrader-first setup — a Raw account from 0.0 pips plus commission that holds its own against the raw-spread leaders. Operating since 2005 out of Sydney and regulated at group level by ASIC, CySEC, FP Markets lists more than 10,000 instruments across forex, shares, indices, commodities and crypto CFDs. In this FP Markets review we go past the headlines — the account types, what it really costs, the platforms, deposits and withdrawals, how it's regulated (and which entity actually holds your account), and where it falls short — so you can decide if it fits.
This is an editorial review. Our score below is the weighted result of five transparent criteria — regulation & trust, costs, platforms, accessibility, and support & education — explained in full in our editorial policy. The figures in this review are FP Markets's published terms as of 2026, cross-checked across multiple sources; they vary by the FP Markets entity that serves your country and can change, so always confirm current numbers on FP Markets's site.
Our score
Editorial score by Priya Nair, weighted across five criteria. How we score.
| Regulation & trust(30%) | 4.0 |
|---|---|
| Costs(25%) | 4.5 |
| Platforms(15%) | 5.0 |
| Accessibility(15%) | 3.5 |
| Support & education(15%) | 3.5 |
FP Markets at a glance
| Founded | 2005 (Sydney, Australia) |
|---|---|
| Regulation | ASIC, CySEC (group level — see Safety & regulation) |
| Minimum deposit | $100 (Standard and Raw) |
| Spreads from | 1.0 pip (Standard) · 0.0 pips + commission (Raw) |
| Platforms | MT4, MT5, cTrader, TradingView, WebTrader (IRESS for Australian clients) |
| Instruments | 10,000+ — forex, shares, indices, commodities, metals, crypto CFDs |
| Leverage | 1:30 (ASIC/EU retail) up to 1:500 (offshore entity) |
| Demo account | Yes — free, with virtual funds |
| US clients | Not accepted |
| Best for | ECN pricing, Low spread |
FP Markets account types compared
FP Markets keeps its line-up refreshingly simple — just two retail accounts that differ only in how you pay. The Standard account folds all costs into a wider, commission-free spread, which suits beginners who want one number to watch. The Raw account shows you the near-zero raw spread and adds a separate commission — usually cheaper for higher-volume trading. Both take the same $100 minimum and support micro lots from 0.01, so you can start small on either.
| Account | Min deposit | Spreads from | Commission | Lot size | Best for |
|---|---|---|---|---|---|
| Standard | $100 | 1.0 pip | None | Standard (100,000 units); micro lots from 0.01 | Beginners who prefer all-in-the-spread pricing |
| Raw | $100 | 0.0 pips | ~$6 round-turn per lot ($3/side) | Standard; micro lots from 0.01 | Active traders/scalpers chasing the lowest all-in cost |
FP Markets routes you to one of its entities based on residence, and that sets your available leverage and the protections behind your account. Australian and EU retail clients sign up under the ASIC and CySEC entities; most clients elsewhere are onboarded by the offshore St Vincent & the Grenadines entity. Confirm which entity, leverage, and account terms apply to you before depositing.
Costs & fees
Cost is FP Markets's strongest card. The Raw account's all-in price — a near-zero spread plus roughly $6 round-turn per lot — lands it among the genuinely cheap brokers for active trading, and there's no inactivity fee to erode a dormant balance. The honest caveat is on the Standard account: its commission-free spread is convenient but not the tightest. Here's the full picture (FP Markets's published figures as of 2026; confirm current values):
| Cost | What to expect |
|---|---|
| Standard spread (EUR/USD) | From 1.0 pip, no commission — typically ~1.1–1.3 pips in practice |
| Raw spread + commission (EUR/USD) | From 0.0 pips + ~$6 round-turn per lot — typically ~0.1 pip + commission ≈ 0.7 pips all-in |
| Overnight swap | Charged on positions held overnight; swap-free (Islamic) accounts on request in eligible countries (not AU/EU) |
| Deposit fee | None from FP Markets on cards, e-wallets, bank transfer, and crypto |
| Withdrawal fee | None from FP Markets on standard methods; intermediary banks may deduct their own charge on international wires |
| Inactivity fee | None — FP Markets does not charge an inactivity fee |
One caveat on spreads: the "from" figures are best-case. Across published averages, Raw-account EUR/USD runs nearer 0.1 pip — about 0.7 pips once you add commission — while the Standard account sits nearer 1.1–1.3 pips. That makes Raw the value pick for most active traders and Standard a convenience option rather than the cheapest. Always check the live spread for the pairs you trade.
For a sense of the real cost, compare the all-in figure on the pairs you trade: a Standard-account spread with no commission versus a Raw-account spread plus ~$6 round-turn. Work it out with our pip calculator and size trades with the lot size calculator.
Platforms
Platform choice is a real strength. FP Markets gives you the full MetaTrader 4 and MetaTrader 5 terminals on desktop, the mobile apps, and browser-based WebTrader, plus cTrader and TradingView — a wider line-up than many rivals. MT4 brings its huge ecosystem of indicators and Expert Advisors; cTrader appeals to depth-of-market and algo traders; and Raw pricing is available across the main platforms, so you're not forced onto one terminal to get the tight spreads.
Two honest notes: the IRESS share-trading platform is limited to Australian clients (and can carry its own data fees unless you're active), and FP Markets's mobile app and in-house research trail the slickest apps in the category. For MT4-and-cTrader traders, though, the platform stack is a clear plus.
Deposits & withdrawals
Funding is broad and low-friction. FP Markets supports bank wire transfer, credit/debit cards, e-wallets (Skrill, Neteller, PayPal and local options), online banking, and crypto (USDT, BTC, ETH, LTC). Card and e-wallet deposits are typically instant; bank wires take roughly 1–3 business days. Withdrawals go back to your original method and are usually processed within 1–2 business days. FP Markets doesn't charge deposit or withdrawal fees, though intermediary banks can deduct their own charge on international wires. Available methods depend on your country, so check the cashier.
Safety & regulation
This is where the detail matters most. The FP Markets group holds tier-1 licences — ASIC, CySEC — but those entities serve specific regions. FP Markets Pty Ltd (ASIC, AFSL 286354) onboards Australian retail clients, and First Prudential Markets Ltd (CySEC, 371/18) onboards EU/EEA retail clients with fund segregation, negative-balance protection, and Investor Compensation Fund cover up to €20,000. The catch: most clients outside Australia and the EU are onboarded by FP Markets LLC in St Vincent & the Grenadines — a registration-only entity that is not a tier-1 regulator and carries no investor-compensation scheme. So if you're a typical international trader, don't assume ASIC or CySEC protection applies to your account.
The practical takeaway: tier-1 oversight is real, but the protections you personally get depend on which FP Markets entity signs you up, which is set by your country of residence. Before depositing, confirm the entity on your client agreement, look up its licence on the regulator's own public register, and read the terms — see our guide to checking a broker is regulated.
Support & education
Support is solid: FP Markets offers multilingual customer service via live chat, email, and phone, with fast live-chat response times reported across reviews, plus a dedicated account-manager touch for many clients. Education and in-house research, however, are a weaker spot — there's a respectable library of articles, videos, and an economic calendar, but it doesn't match the depth of the most beginner-focused brokers. None of it is personalised advice; treat it as general learning material.
How to open an FP Markets account (and demo)
Setting up takes only a few minutes:
- 1. Choose your entity. FP Markets routes you to the entity for your country, which sets your available leverage and the protections behind your account.
- 2. Register. Open a free demo to practise, or a live account from $100 — pick Standard or Raw.
- 3. Verify your identity. Live accounts need ID and proof of address (standard KYC) — a quick, one-time step.
- 4. Fund it (or skip for a demo). Deposit by card, e-wallet, bank transfer, or crypto; a demo needs no deposit.
- 5. Download MT4 and log in. Use your login number, password, and server — our MT4 install guide and MT4 login guide have the full walkthrough.
Pros and cons
Pros
- Genuinely tight Raw pricing — from 0.0 pips + ~$6 round-turn per lot, competitive with the raw-spread leaders
- No inactivity fee, and no deposit or withdrawal fees on standard methods
- Wide platform choice: MT4, MT5, cTrader, and TradingView (plus IRESS for Australian clients)
- Tier-1 licences at group level (ASIC, CySEC) and a long track record since 2005
- 10,000+ instruments and micro lots from 0.01 on both accounts
- Broad funding including e-wallets and crypto; fast withdrawals
Cons
- Not available to US residents
- Most non-AU/EU clients are onboarded by the offshore (St Vincent) entity, with no investor-compensation scheme
- Standard-account spreads aren't the tightest — use the Raw account for low cost
- Education and in-house research trail the most beginner-focused brokers
- The mobile app lags the slickest apps in the category
- $100 minimum is higher than the $5–$10 entry points at some rivals
Who FP Markets is for
Choose FP Markets if you're a cost-aware or active trader who wants genuinely tight raw spreads on MetaTrader or cTrader, values a broad platform stack, and appreciates that there's no inactivity fee nibbling at a dormant balance. The Raw account's all-in cost makes it a serious option for scalpers and higher-volume traders — see how it sits among its peers in our best ECN MT4 brokers guide.
Weigh the details if you're a beginner who leans heavily on education and a polished mobile app, you want the lowest possible minimum deposit, or you specifically need tier-1 client-money protection — in which case confirm the entity that will hold your account before you fund it. For the trader it's built for, though, FP Markets delivers low-cost, multi-platform ECN trading that's genuinely hard to beat on price.
Bottom line
FP Markets is a strong, low-cost, multi-platform broker that nails the fundamentals for active traders: a Raw account from 0.0 pips with tight commission, MT4, MT5 and cTrader, broad funding, and no inactivity fee. It isn't the most beginner-coddling choice — education and the mobile app trail the leaders — and most international clients are served by an offshore entity, so check which one holds your account. But if low all-in cost and platform choice top your list, FP Markets is one of the better-value names in the raw-spread bracket and a credible home for your MT4 trading.
Open an account with FP Markets
Start with a free demo or a live account from $100, and trade on MetaTrader 4, MT5, or cTrader with Raw spreads from 0.0 pips.
⚠ Trading forex and CFDs is high-risk and most retail traders lose money. This is not financial advice.
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Related guides
Compare FP Markets with the field in our best MT4 brokers guide, or zero in on the best ECN MT4 brokers for raw-spread trading. Newer to the platform? Start with what is MT4 and the MT4 install guide. Ready to set up? Follow the MT4 login walkthrough.
Frequently asked questions
Is FP Markets a scam or is it legit?
FP Markets is a legitimate, regulated broker — not a scam. The group has operated since 2005 and is licensed by ASIC in Australia (FP Markets Pty Ltd, AFSL 286354) and by CySEC in the EU (First Prudential Markets Ltd, 371/18), both verifiable on the regulator's own public register. The nuance worth knowing: most clients outside Australia and the EU are onboarded by FP Markets LLC, a registration-only entity in St Vincent & the Grenadines that is not a tier-1 regulator and carries no investor-compensation scheme. So the brand is well-established and regulated at group level, but the protections you actually get depend on which entity holds your account. Regulation is a baseline, not a profit guarantee — trading is high-risk and most retail traders lose money. (FP Markets's published figures as of 2026; confirm current.)
What are FP Markets's account types?
FP Markets keeps it to two main retail accounts: Standard (spreads from 1.0 pip, no commission) and Raw (spreads from 0.0 pips plus a commission of about $6 round-turn per lot / $3 per side). Both take a $100 minimum and support micro lots from 0.01. The difference is purely the cost model — the Standard account wraps everything into a wider spread, while Raw shows the near-zero raw spread and charges a separate commission, which usually works out cheaper for higher-volume trading. These are FP Markets's published figures as of 2026; confirm current specs for the entity that serves you.
How much does it cost to trade with FP Markets?
On the Raw account you pay a near-zero spread (EUR/USD typically around 0.1 pip) plus a commission of about $6 round-turn per lot — roughly 0.7 pips all-in, which is genuinely competitive with the raw-spread leaders. The Standard account is commission-free with EUR/USD spreads from 1.0 pip (nearer 1.1–1.3 pips in practice). FP Markets charges no deposit fees, no withdrawal fees on standard methods, and no inactivity fee. These are FP Markets's published figures as of 2026; confirm current numbers before you trade.
Does FP Markets charge an inactivity fee?
No — FP Markets does not charge an inactivity fee, which is a real advantage over brokers that bill dormant accounts monthly. Accounts left idle for a long period may be archived, but you can reactivate by logging in or placing a trade. This is FP Markets's published policy as of 2026; confirm current terms on its site.
Does FP Markets accept US clients?
No. FP Markets does not accept residents of the United States. US traders need an NFA/CFTC-regulated broker such as OANDA, tastyfx, or Forex.com.
What leverage does FP Markets offer?
It depends on the FP Markets entity that serves your country. Retail clients under the ASIC (Australia) and CySEC (EU) entities are capped at 1:30 on major pairs under ASIC/ESMA rules, while clients under FP Markets's offshore (St Vincent & the Grenadines) entity can access up to 1:500. Higher leverage magnifies losses as much as gains, so use it cautiously. Confirm the cap for your entity, as published figures change.
How do I deposit and withdraw at FP Markets?
FP Markets supports bank wire transfer, credit/debit cards, e-wallets (Skrill, Neteller, PayPal and local options), online banking, and crypto (USDT, BTC, ETH, LTC). Card and e-wallet deposits are usually instant; bank wires take roughly 1–3 business days. Withdrawals go back to your original method and are typically processed within 1–2 business days. FP Markets doesn't charge deposit or withdrawal fees, though intermediary banks can. Available methods depend on your country, so check the cashier.
Does FP Markets offer MetaTrader 4?
Yes. FP Markets offers MetaTrader 4 and MetaTrader 5 on desktop, mobile, and WebTrader, alongside cTrader, TradingView, and (for Australian clients) the IRESS share-trading platform. See our MT4 install guide to get set up.
Trading foreign exchange and contracts for difference (CFDs) carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. You could lose some or all of your deposited funds; do not trade with money you cannot afford to lose. Past performance is not indicative of future results. Nothing on MT4Download.com is financial, investment, or trading advice. Consider your circumstances and seek independent advice if needed.