FP Markets (First Prudential Markets) is a CFD broker founded in 2005 and headquartered in Sydney, Australia. It offers a wide choice of platforms and both spread-only and raw-spread accounts. Here we look at its regulation, costs and the points to check.
Risk warning: CFDs and leveraged forex 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. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This review is for information only and is not investment advice.
FP Markets at a glance
| Founded | 2005, Sydney, Australia |
| Main regulators | ASIC, CySEC, FSCA, CMA Kenya; FSA Seychelles and Saint Lucia (offshore) |
| Platforms | MT4, MT5, cTrader, TradingView, Iress |
| Accounts | Standard and Raw |
| Inactivity fee | None reported |
Regulation and safety
FP Markets operates through these main entities:
- First Prudential Markets Pty Ltd: ASIC, Australia.
- First Prudential Markets Ltd: CySEC, EU (licence 371/18).
- FP Markets (Pty) Ltd: FSCA, South Africa; FP Markets Limited: CMA, Kenya.
- First Prudential Markets Limited: FSA Seychelles (offshore); an entity in Saint Lucia is not regulated.
Licence details above are as stated by FP Markets. Always check the firm and website on the regulator’s official register before you open an account, and confirm which entity your account will be held with. Regulation does not protect you against trading losses. See our guide: How to check if a broker is legitimate.
Products and platforms
- CFDs on forex, indices, commodities, shares and crypto.
- Direct share trading through Iress for Australian clients.
- Platforms: MetaTrader 4, MetaTrader 5, cTrader, TradingView and Iress.
Accounts and fees
- Standard account: no commission; independent tests in 2026 measured EUR/USD around 1.2–1.3 pips.
- Raw account: raw spreads plus about $6 round-turn commission per lot.
- Minimum deposit and withdrawal costs vary by entity and payment method; no inactivity fee has been reported.
Fees, spreads and minimum deposits vary by region and account type and can change at any time. Check FP Markets’s current pricing pages for your country before trading.
Leverage
ASIC and EU retail clients face a 30:1 cap on major pairs. Offshore entities offer up to 500:1. Higher leverage increases both potential gains and losses. Read Can you lose more than you invest in forex?.
Things to be aware of
- In February 2026 CySEC announced a €100,000 settlement with First Prudential Markets Ltd over possible breaches of the EU CFD product-intervention rules between 2022 and 2025.
- Clients of the Seychelles or Saint Lucia entities do not have the protections of ASIC or EU regulation.
- FP Markets publishes the percentage of EU retail CFD accounts that lose money on its EU website; in November 2026 it was 74.51%.
Pros and cons
Pros
- ASIC and CySEC regulation
- Wide platform choice
- Competitive raw-spread pricing
- No inactivity fee reported
Cons
- 2026 CySEC settlement
- Offshore and unregulated entities for some regions
- Standard account spreads are average
Who might consider FP Markets?
FP Markets may suit traders who want platform choice and raw-spread pricing, and who can open an account with its ASIC or CySEC entity.
Summary
FP Markets is an established broker with strong platform choice and competitive pricing, but check which entity you would join and note the 2026 CySEC settlement.
Information in this review was checked against FP Markets’s published information and public regulatory records in November 2026. Details change, so always confirm the current terms on the broker’s own website and the regulator’s register.
Risk warning: CFDs and leveraged forex 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. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This review is for information only and is not investment advice.