CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. PipTax compares costs; it is not investment advice.
Brokers › FP Markets

FP Markets — costs, regulation & account details

First Prudential Markets Pty Ltd (founding/primary entity of the FP Markets Group of Companies)

74.56% of retail CFD accounts lose money (published on fpmarkets.eu, CySEC entity, retrieved 2026-07-11). The international (Seychelles) site publishes no loss percentage of retail investor accounts lose money trading CFDs/forex with this provider (broker-stated).
MT4MT5cTraderTradingViewOwn platformAPI

Overview

Legal / official name
First Prudential Markets Pty Ltd (founding/primary entity of the FP Markets Group of Companies)
Parent company
FP Markets Group of Companies — privately held; founded by Matthew Murphie. First Prudential Markets Pty Ltd (Australia) is the original parent entity.
Founded
2005 (brand established in Australia)
Headquarters
Sydney, Australia (group operational hub also in Limassol, Cyprus for the EU entity)
Publicly listed
Not listed — privately held (no exchange/ticker)
Accepts customers from
Global coverage via the international (Seychelles FSA / Mauritius FSC / Saint Lucia) entities: most of Asia (site has dedicated EN locales for Thailand, Vietnam, Philippines, HK), Latin America (Brazil, Mexico, Chile, Argentina, Peru etc.), Middle East (UAE, Saudi, Qatar, Kuwait etc.), Africa (South Africa via FSCA entity, Kenya via CMA entity, plus Ghana, Nigeria-region locales). EU/EEA served by the CySEC entity (fpmarkets.eu); Australia by the ASIC entity. EXCLUDED per the broker's own footer (2026-07-11): United States, United Kingdom, Russian Federation, Afghanistan, Cuba, Iraq, Iran, Liberia, Libya, Myanmar, Palestine, Somalia, Syria, Sudan, Yemen, and FATF/EU/UN-sanctioned jurisdictions. Japan, New Zealand, Belgium and India are on the affiliate ineligible list and third-party restricted lists; their exact onboarding status was not verified.

Regulation & entities

Brokers operate multiple legal entities; the protections and leverage you get depend on which one holds your account.

EntityRegulatorLicenceRegion
First Prudential Markets Pty LtdASIC (Australia)AFS Licence No. 286354; ABN 16 112 600 281Australia (retail leverage capped 30:1 under ASIC product intervention order)
First Prudential Markets Ltd (company reg. HE 372179)CySEC (Cyprus)371/18 (licensed 19 Nov 2018; verified active on CySEC register 2026-07-11)EU/EEA (passported to all EU/EEA states + IS/LI/NO) via fpmarkets.eu; ICF member
First Prudential Markets Limited (Seychelles company reg. 8426368-1)FSA (Seychelles)SD130International / rest-of-world — operates the main fpmarkets.com site (Asia, LatAm, Middle East, parts of Africa); up to 1:500 leverage
FP Markets (Pty) LtdFSCA (South Africa)FSP No. 50926 (licence received 10 May 2022)South Africa
FP Markets Ltd (Mauritius)FSC (Mauritius)Investment Dealer Licence GB21026264International
FP Markets Limited (Kenyan subsidiary)CMA (Kenya)Licence No. 193 per broker's group page (licence announced Dec 2023; Wikipedia says No. 103 — discrepancy noted)Kenya (non-dealing FX broker licence)
FP Markets Ltd (Saint Lucia)NONE — Registrar of Companies, Saint Lucia (company registration only, not a financial-services licence)Registration No. 2025-00853 (registered 2025; LEI 2549006480DBHOMATK87)Offshore booking/registration entity named in site footer; appears to have superseded the legacy FP Markets LLC (St Vincent & the Grenadines, 126 LLC 2019) which was the subject of the Oct 2024 FCA warning

Accounts & pricing

AccountPricing modelCommission (round turn)Typical EUR/USD spreadMin. deposit
StandardSpread-only (all broker costs built into spread), ECN-style pricing, no dealing desk claimedUS$0 (zero commission on forex/metals/indices/commodities/crypto)1.27 pips average (broker-published table, 2026-07-11); marketed as 'from 1.0 pips'US$100 or equivalent (broker FAQ confirms $100 USD minimum for both MT4/MT5 account types; some 2026 review sites still quote $50 — outdated)
Raw (Raw ECN)Raw interbank spread + fixed commission on forex & metals (commodities/indices/crypto remain spread-only even on Raw)US$6.00 round turn (US$3.00 per side per standard lot) on MT4/MT5/cTrader/TradingView for USD-denominated accounts; charged in account base currency otherwise (per side: AUD/CAD/SGD 3.50, EUR 2.75, GBP 2.25, NZD 4.40, CHF 3.00; JPY shown as ¥300/side on one broker page and ¥250/side (¥500 RT) on another — see confidence notes)0.17 pips average, minimum 0.0 (broker-published table, 2026-07-11); independent 2026 tests report ~0.1 pips average → all-in EURUSD cost roughly 0.7–0.8 pips equivalentUS$100 or equivalent
IRESS (share-trading account, mainly Australia; also referenced for affiliates' 'qualified clients')Exchange-traded share CFDs/DMA via IRESS platform; percentage brokerage per side (MT5/cTrader equity CFD schedule for comparison: ASX 0.05%/min A$5, UK 0.10%/min £2, EU 0.10%/min €2, US 2 cents/share/min $2, HK 0.20%/min $2)Not statedNot statedNot stated

Professional client account

Professional-account data is being compiled for this broker.

Costs

Deposit fees
None charged by broker (FAQ, 2026-07-11). Methods: Visa/Mastercard (credit/debit, prepaid accepted), bank wire (domestic & international), Skrill, Neteller, PayPal, Apple/Google Pay, crypto (e.g. B2BinPay) and local payment methods. BrokerChooser (2026) additionally reports broker reimburses third-party international-wire deposit fees up to $50 on deposits over $10,000 (secondary source)
Withdrawal fees
Broker's own FAQ (international entity, retrieved 2026-07-11): 'we do not charge any fees for processing Bank wire withdrawals'; no charges stated for card or Skrill/Neteller withdrawals (e-wallet withdrawals processed in 1 business day). No published per-method fee table exists on the current site. Receiving/intermediary bank fees on international wires may still apply (charged by banks, not broker). Older references to an AUD10 international-wire fee (AU entity) no longer appear — per-entity specifics beyond the international FAQ could not be verified, see confidence notes
Inactivity fee
NONE. Accounts with zero balance and no activity for 3+ months are disabled/archived — explicitly without an admin fee — and can be reactivated free by emailing support (broker FAQ, 2026-07-11)
Swap-free available
Yes — Islamic swap-free accounts (MT4/MT5) for Muslim clients: no swaps, instead per-symbol admin fee in USD per lot per night after a grace period (e.g. GBPUSD $3/lot/night after 5 nights, NZDUSD $2 after 5 nights, most indices/crypto 0-night grace, XTIUSD $53, SOLUSD $10). Broker reserves right to request documentation
Swap notes
Standard swap/rollover charges apply on non-Islamic accounts; published per-instrument via the swap-rates page and platform. Whether triple-swap Wednesday applies was not verified from primary sources

Platforms & execution

MetaTrader 4
Yes — Standard & Raw accounts
MetaTrader 5
Yes — Standard & Raw; equity CFDs and ETF CFDs available on MT5
cTrader
Yes (added 2023) — Standard & Raw; Raw commission $3 USD/side per lot converted to base currency
TradingView
Yes — official integration (partnership announced 2024); offered on the Raw account
Proprietary
No full proprietary platform. Extras: WebTrader (MT4/5 web), FP Markets mobile app, proprietary Social Trading (copy) app, MAM/PAMM for managers, IRESS for share trading, Autochartist/Trading Central/Acuity tools
API access
No public retail REST/FIX API advertised. Algo access is platform-level: MT4/MT5 Expert Advisors (MQL), cTrader Open API / cTrader FIX. Per user's own reliability rule, execution here is MT4/MT5-native, which suits self-hosted EA bridges
Execution model
Claimed: 'ECN pricing' / no dealing desk with top-tier liquidity aggregation, Equinix NY4 (New York) and LD4/London data centres. Assessed (ForexBrokers.com, ECN-execution reviews 2026): hybrid STP/ECN-style agency execution routing to LP pools — not a true exchange ECN, but consistently measured with tight Raw spreads and minimal slippage in live tests
Max leverage (by region)
Australia (ASIC) retail: 30:1 major FX / 20:1 minors, gold, indices / 5:1 equities / 2:1 crypto. EU (CySEC) retail: same ESMA caps, 30:1 max. South Africa (FSCA) & Kenya (CMA): up to 1:500 in practice per international offering. Seychelles FSA / Mauritius FSC international entities: up to 1:500 (broker states 500:1 max on international site; FinTelegram earlier flagged this being offered to EEA residents via the offshore entity)
VPS
Yes — partner VPS (Liquidity Connect) hosted at Equinix NY/London. Subscription fee covered by broker if monthly volume ≥5 lots FX+metals on Standard or ≥10 lots on Raw (MT4/5); cTrader thresholds are 20 lots (Standard) / 40 lots (Raw)
Copy trading
Yes — FP Markets Social Trading (proprietary copy platform on MT4/MT5, Provider performance fees), plus Myfxbook AutoTrade, Signal Start, cTrader Copy, and MAM/PAMM accounts

Instruments

Forex
70+ currency pairs (majors, minors, exotics)
CFDs
International entity advertises 10,000+ instruments: share CFDs (ASX, US NYSE/NASDAQ, UK, EU, HK), indices (S&P 500, NASDAQ 100 etc.), commodities (oil, gas, softs), metals (incl. base metals: lead, zinc, nickel, aluminium, copper), bonds and ETFs. EU (CySEC) entity offers a smaller range: 800+ CFDs across six asset classes
Crypto CFDs
~11 crypto CFDs (BTC, ETH, XRP, LTC, BCH, ADA, DOGE, DOT, LINK, SOL, XLM), spread-only (zero commission even on Raw), traded 24/5
Crypto for retail (no pro status)
UK: moot — the broker's own site (Jul 2026) lists the United Kingdom as a non-served jurisdiction (and the FCA's retail crypto-derivatives ban, in force since Jan 2021, remains in place in 2026 with no repeal). EU (CySEC entity): YES — retail crypto CFDs offered at 2:1 ESMA leverage. Australia (ASIC entity): YES — retail crypto CFDs permitted, 2:1 leverage cap. International entities (Seychelles/Mauritius/Kenya/South Africa): YES — no retail/professional distinction applies

Consumer protection

Negative balance protection
Yes — broker FAQ states NBP is offered (international entity); mandatory by regulation for retail clients of the ASIC (AU) and CySEC (EU) entities
Client fund segregation
Yes — all entities state retail client funds are segregated from company funds and held with top-tier / 'AA-rated' banks; AU entity subject to ASIC client-money rules; external audits of financial accounts claimed
Compensation scheme
Varies by entity: CySEC entity — Investor Compensation Fund (ICF) member, up to €20,000. UK FSCS — NOT available (broker is not FCA-authorised; FCA issued a warning in Oct 2024). Australia — no statutory compensation scheme for CFD losses. Seychelles international entity — broker FAQ explicitly states it is NOT a member of any investor compensation fund; carries professional indemnity insurance (H Savy Insurance Co Ltd) and says clients would be paid from segregated client-fund accounts in insolvency
Stated retail loss %
74.56% of retail CFD accounts lose money (published on fpmarkets.eu, CySEC entity, retrieved 2026-07-11). The international (Seychelles) site publishes no loss percentage

Reputation

Trustpilot: 4.8 / 5 from 10,223 reviews (read directly, 2026-07-11); ~94% 5-star, ~3% 1-star; paid Trustpilot subscription, profile claimed since 2017 (Trustpilot)

Regulatory actions / fines

Noted issues

Sources

Every figure above is drawn from these sources, retrieved as of the dates shown.

  1. Legal entities, licence numbers, excluded jurisdictions (site footer) (2026-07-11)
  2. Account types: Standard vs Raw, min deposit, commission, leverage, platforms (2026-07-11)
  3. MT4/MT5 commissions per currency + equity/ETF CFD commissions (2026-07-11)
  4. cTrader commissions ($3 USD/side Raw) (2026-07-11)
  5. Broker-published typical spreads (EURUSD Standard 1.27 / Raw 0.17 avg) + round-turn commission table (2026-07-11)
  6. Deposit/withdrawal fees, inactivity policy, NBP, compensation fund, demo expiry, min deposit, base currencies (broker FAQ) (2026-07-11)
  7. Max leverage 500:1 (international entity) (2026-07-11)
  8. Islamic swap-free accounts: grace periods and admin fees per symbol (2026-07-11)
  9. VPS offer and free-VPS volume thresholds (2026-07-11)
  10. Copy trading (FP Markets Social Trading) (2026-07-11)
  11. Crypto CFD offering (instruments, 24/5) (2026-07-11)
  12. Group entities incl. Kenya CMA Licence No. 193 (2026-07-11)
  13. Regulation overview page (ASIC/CySEC/FSCA/FSA) (2026-07-11)
  14. EU entity: 74.56% retail loss disclosure, 800+ CFDs, EU T&C PDF dated 2026-06-25 (2026-07-11)
  15. CySEC register entry: First Prudential Markets Ltd, 371/18, active, EU passporting, approved domains (2026-07-11)
  16. CySEC €100,000 settlement (MiFIR Art.42 / DI87-09 CFD restrictions, Mar 2022–Aug 2025) (2026-02-04)
  17. FCA warning: FP Markets not authorised in UK (SVG entity/fpmarkets.com) (published 2024-10-11, accessed 2026-07-11)
  18. Trustpilot score 4.8, 10,223 reviews; complaint themes (2026-07-11)
  19. Affiliate CPA tiers ($450/$350/$225), qualified-client definition, ineligible countries (2026-07-11)
  20. IB rebates ($2.00–$2.40/lot Raw; 5–6 pts Standard; Master IB 5 tiers) + partners-hub footer entities incl. Saint Lucia reg 2025-00853 (2026-07-11)
  21. Company history: founded 2005, founder Matthew Murphie, Sydney HQ, private ownership, TradingView partnership 2024 (2026-07-11)
  22. Saint Lucia entity LEI record (FP Markets Ltd, reg 2025-00853) (2026-07-11)
  23. Kenya CMA licence award (Dec 2023, FP Markets Limited subsidiary) (2023-12, accessed 2026-07-11)
  24. Demo account behaviour vs live (third-party test) (2026, accessed 2026-07-11)
  25. Execution model assessment (STP/ECN hybrid, slippage tests, 2026 awards) (2026, accessed 2026-07-11)
  26. FinTelegram Orange Compliance listing (offshore entity, EEA onboarding, pre-KYC deposits) (accessed 2026-07-11)
  27. ASIC retail CFD leverage caps (30:1 FX majors, 2:1 crypto) (accessed 2026-07-11)
  28. Fees corroboration (no inactivity fee, free withdrawals, $50 wire-fee reimbursement) (2026, accessed 2026-07-11)

Data notes: Left null / flagged: (1) Currency conversion fee — not published anywhere on the site; the broker mitigates via 13 account base currencies (AUD, USD, EUR, GBP, SGD, HKD, NZD, CHF, CAD, JPY, PLN, CZK, AED); conversion spread on cross-currency P/L unverified. (2) IRESS account minimum deposit and full brokerage schedule — IRESS is still live (login page, affiliate 'qualified client' definition) but its pricing page was not reachable; nulls used. (3) Withdrawal fees — the current international-entity FAQ states no broker fees for bank-wire withdrawals and no per-method fee table is published; I could not verify the AU/EU entities' schedules directly (fpmarkets.eu T&C PDF returned 403); older third-party sources mention an AUD10 international wire fee that no longer appears in broker materials. (4) Raw commission is unambiguous in USD ($3/side, $6 round turn) but the broker's own pages disagree on JPY (¥250 vs ¥300/side) and HKD (20 vs 22.5/side) equivalents. (5) Kenya CMA licence number: broker group page says No. 193, Wikipedia says No. 103 — I used the broker's own page; verify on licensees.cma.or.ke if load-bearing. (6) UK status is contradictory: the broker's own excluded-jurisdictions footer (primary, Jul 2026) excludes the UK, and an FCA warning exists (Oct 2024), yet BrokerChooser (Apr 2026) and the affiliate CPA tiers still treat UK as served — I treated the broker's own footer as authoritative. (7) demo_pricing_matches_live: no formal broker guarantee exists; assessment is from broker marketing ('real-time market environment', live-streamed feeds), broker education content admitting demo lacks slippage/requotes, and third-party testing — treat demo commissions/fills as approximately-live, not certified-live. (8) Retail loss % (74.56%) is published only by the EU entity; no equivalent figure for AU/international entities. (9) ASIC/CySEC 30:1 retail caps are regulator-imposed and corroborated by 2026 reviews, but the broker's own ASIC-update page rendered empty in my session. (10) Standard-account EURUSD 1.27 pips and Raw 0.17 pips are the broker's own published averages retrieved 2026-07-11; independent tests put Raw EURUSD nearer 0.10 — both stated. (11) The '$1,250 CPA' promo terms were referenced but not detailed. (12) Tominus Ltd (Cyprus, HE 480296) appears in the footer as a group payment/service entity — role unverified. (13) fpmarkets.com blocks server-side fetching (403); primary-source data was collected by rendering the site in a browser (en-th international locale + fpmarkets.eu) on 2026-07-11.

Cost figures reflect each broker's published specifications as of 11 July 2026 and can change; always check the broker's current terms. Most retail investor accounts lose money trading CFDs. PipTax compares costs and is not investment advice. How we research this.