FP Markets review

FP Markets is a high quality CFD broker that provides access to more than 10,000 CFDs across multiple asset classes. We tested FP Markets to rate what’s on offer.
By: James Knight
James Knight
James is a lead editor for Invezz, where he covers topics from across the financial world, from the stock market, to… read more.
Updated: Jan 3, 2023
3.5/5 Star rating
12 min read
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FP Markets is an ECN broker that provides smooth and quick execution of CFD trades with high leverage, low fees, and spreads geared toward individual traders.

Prudential Markets or FP Markets as it is now known was founded in 2005 and is a well-known CFD broker headquartered in Sydney, Australia.

In this FP Markets review we rate and review its best features, and compare the service to other broker platforms to help you decide whether to sign up.

Pros & Cons

Pros:

Trade 10,000+ CFDs across multiple asset classes
Highly regulated and reliable platform
Copy and social trading features

Cons:

What can I do with FP Markets?

FP Markets has more than 10,000 financial assets available to trade. As it’s an ECN broker, it offers fast execution with competitive prices.

The broker stands apart from others by offering multiple trading platforms, including both MetaTrader 4 and 5 as well as its own IRESS version. It also claims to provide a deep liquidity pool, which it utilises to furnish some of the best available market prices.

FP Markets’ markets, assets, and options

What assets and products can you trade on FP Markets?

FP Markets offers access to CFDs across various asset classes. It includes CFDs for Forex, stocks like Apple, and Amazon, Indices, Commodities like coffee & natural gas, Bonds, ETFs, and even Metals like gold & silver.

Product (CFDs)Offering
Forex60
Shares10,000
Metals2
Commodities11
Bonds2
Indices19
ETF45
Cryptocurrencies11
See all products >

What leverage trading options are there?

FP Markets offers a leverage of 1:500 for professional traders on forex which is amongst the highest in the industry. 

Leverage varies for other product types but is again on par with industry leaders. Leverage is capped at 1:30 for retail traders by financial regulation in the UK and Europe. 

Product (CFDs)Max. leverageMargin
Forex1:5000.2%
Shares1:1.470%
Metals1:5000.2%
Commodities1:5000.2%
Bonds1:1001%
Indices1:1001%
ETF1:520%
Cryptocurrencies1:250%
See all leverage >

What are the spreads?

FP Markets offers some of the lowest forex spreads in the industry depending on account type. 

For example, FP’s Raw account has spreads starting from 0 but charges a commission per trade. The standard account has no commissions, but spreads start from 1 pip onwards allowing FP markets to charge no commission. 

Spreads on other instruments vary and are on par with industry averages.

ProductAverage spreadFixed or variable?
Forex0 pipVariable
SharesNot disclosedNot disclosed
Metals3 pip –50 pipVariable
Commodities4 pip – 160 pipVariable
Bonds43 pip – 47 pipVariable
Indices160 pip – 765 pipVariable
ETFNot disclosedNot disclosed
Cryptocurrencies0 pip – 146 pipVariable
See all spreads >

Fees, limits, and payment options on FP Markets

What are the deposit and withdrawal fees, limits, and speeds?

FP Markets offers an excellent range of payment options with international as well as country-specific local payment options on offer. 

The broker does not charge any deposit fees and similarly it also does not charge any withdrawal fees for bank transfers and Visa/MasterCard withdrawals, which is quite rare in the industry. 

The only caveat is that one must withdraw using the same mode of payment through which the deposit was initially made.

Payment methodDepositWithdraw
Visa, MasterCard
– min/max
– fees
– speed
Yes
100 AUD/ No Limit
Free
Instant
Yes
No Limit
Free
1 business day
Bank Transfer
– min/max
– fees
– speed
Yes
100 AUD/ No Limit
Free
1 business day
Yes
No
Limit
Free1-5 business days
Neteller
– min/max
– fees
– speed
Yes
100 AUD/ No Limit
Free
Instant
Yes
No Limit
1% up to 30 USD
1 business day
Skrill
– min/max
– fees
– speed
Yes
100 AUD/ No Limit
Free
Instant
Yes
No Limit
1% + country fees
1 business day
Perfect Money
– min/max
– fees
– speed
Yes
100 USD/ No Limit
Free
Instant
Yes
No Limit
0.5%
1 business day
Rapid Transfer
– min/max
– fees
– speed
Yes
100 EUR/ No Limit
Free
Instant
Yes
No Limit
1%
1-2 business days
See all payment methods >

How much are FP Markets fees and commissions?

FP Markets charges different fees and commissions based on your account type with a standard account being charged commission via spreads and raw accounts being charged a fixed commission of $3 USD per lot per side. 

The broker does not charge any inactivity fee.

Fee typeFee amountCommission
CFDs$3 USD per lot per side for raw account 1 pip spread for standard account
IRESS Trading Platform$60 AUD per monthVariable min charge
See all fees >

FP Markets trade sizes and limits

FP Markets offers standard minimum trade sizes and limits which is common in the industry. 

The minimum trade size is a micro lot (0.01), while a maximum lot size varies based on the asset in question. 

To know the maximum lot size of the asset you wish to trade, simply right-click on its ticker symbol in market watch.

ProductMinimum tradeMaximum trade
Forex0.01 lot50 lots
Shares100 AUDVariable
Metals100 AUDVariable
Commodities100 AUDVariable
Bonds100 AUDVariable
Indices100 AUDVariable
ETF100 AUDVariable
Cryptocurrencies100 AUDVariable
See all trading limits >

FP Markets trading platform

What devices can I use FP Markets on?

FP Markets offers multiple trading platforms that can be used across multiple devices. The broker offers MetaTrader 4 & 5 as well as a web trader and mobile app. It also offers its own custom IRESS platform suitable for both Windows and Mac.

  • Desktop Platform (PC & Mac)
  • Web Platform (Browser)
  • Mobile App (Android & iOS)

Can I use FP Markets in my country?

FP Markets is available across the globe with the exception of The United States, Japan, and New Zealand due to regulatory constraints. Some of the countries it is available in include Australia, the United Kingdom, India, and the entire European Union region.

Is FP Markets available in my language?

FP Markets is available in more than 10 languages, including English, Spanish, Italian, and Thai.

How easy is it to use FP Markets?

The FP Markets platform is generally catered towards experienced and professional traders but beginners will have guidance in the form of platform tutorials and market related educational material. Its primary platforms are MetaTrader 4 & 5 and there are several tutorials on the website as well as general YouTube videos about how to use those platforms allowing beginners to trade easily and effectively.

FP Markets also has a mobile app allowing one to trade on the go which is compatible with Windows and iOS so trading can continue seamlessly along multiple devices.

Key features

FP Markets has several features that stand out. I wouldn’t say they are unique, but they are certainly useful.

Social trading & copy trading

FP Markets provides a social trading feature where one can track top traders’ performance and ratings. It also allows users to copy the trades of the top traders via the copy trading function. 

Additionally, users continue to maintain complete control of the copy trade and can choose to decline or exit a trade that has been copied.

Virtual private server

With FP Markets VPS hosting for both MetaTrader 4 and 5, experienced Forex traders can run automated algorithmic strategies, including EAs (Expert Advisors) without the worry of network issues.

Raw pricing 

Simply put, this is institutional-grade liquidity with no price manipulation, no dealing desk, and no requotes.

Security and regulation

Is FP Markets safe?

FP Markets offers highly secure trading platforms with 128-bit encryption for secure trading and segregation of client funds to prevent misuse. 

Am I and my funds protected?

FP Markets is regulated in multiple jurisdictions which offers some degree of protection for investor funds. 

However, it is not a part of any investor protection fund, and the security of investor funds may be in doubt. Investors can have some faith since the broker has been in business since 2005, making it one of the oldest and most reliable CFD brokers in the industry.

Is FP Markets regulated?

FP Markets is regulated in multiple jurisdictions by the following entities:

  • Australian Securities and Investments Commission (ASIC)
  • Cyprus Securities and Exchange Commission (CySEC)
  • Financial Services Authority (Saint Vincent and the Grenadines)

Do I have to verify my account with FP Markets?

Yes, FP Markets complies with Know Your Customer (KYC) and Anti-Money Laundering legislation requiring account verification.

Verifying your account with FP Markets includes providing proof of identity and residence like a driver’s license, passport or any other government-issued identity.

Extra information

Educational resources 

FP Markets puts tons of educational resources & materials at investors’ disposal. 

Content ranges from trading courses and guides to webinars, podcasts, and even live events. This also extends to eBooks and tutorials on platform operations.

Tools and charting

On its own, FP Markets has very little to offer in terms of charting. However, the broker does offer the MetaTrader platform which is well known for its multitude of charting functionalities and technical analysis tools.

Customer support

FP Markets has a number of customer support options, including a toll-free number, email address, and a chat box on the homepage. 

The broker also has a near-perfect rating of 4.9 on Trustpilot, which is one of the highest in the industry.

Our verdict

With FP Markets liquidity is high, and fees and spreads are low and quite competitive. This makes it an excellent choice for most active traders.

There are plenty of assets available to trade, particularly if you’re interested in trading stocks, while the MetaTrader platforms on offer are robust and FP’s very own IRESS platform is geared to replicate this.

FP Markets is regulated, but the broker is not a member of the Investor Protection Fund. Thus, it falls short of the holy grail of an insured, high-leverage, low-fee CFD broker. Still, this shouldn’t be held against it. As FP is a credible, well-funded broker that has withstood the test of time.

How to open an account on FP Markets

  1. Click on Open Live on the top right corner of the FP markets home page
  2. Account opening is done in 5 steps. The first step involves basic details like email address and country of residence
  3. Subsequent steps request additional information for KYC compliance
  4. Once KYC documents are submitted, one can configure their account for the currency and default payment method.
  5. Finally, one has to submit a small questionnaire and can then begin trading

FAQs

Who owns FP Markets?
How does FP Markets make money?
Do I have to pay tax on FP Markets profits?
Does FP Markets offer CFD trading?
How do I sell on FP Markets?
How do I delete my FP Markets account?
How can I short on FP Markets?
What if I forget my account password?
Can I transfer from my FP Markets account into my PayPal account?
Does FP Markets offer bonuses?

Sources & references
Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

James Knight
Editor of Education
James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.