FP Markets at a glance
An established multi-asset broker, reviewed by the Tradelytic team and rated by traders.
Global Scale and Institutional Regulation
First Prudential Markets (FP Markets) was established in Sydney in 2005 and has grown into a major multi-asset retail brokerage. The broker operates under tier-1 supervisory bodies, including ASIC in Australia and CySEC in Cyprus, alongside authorization from the FSCA in South Africa. Clients can trade over 10,000 instruments, encompassing more than 70 forex pairs, equity indices, global equities, energies, precious metals, and digital asset CFDs. FP Markets routes orders via Electronic Communication Network (ECN) pricing and Direct Market Access (DMA) models to guarantee ultra-low latency execution.
Trading Platforms and Low Execution Costs
Traders can access markets using MetaTrader 4, MetaTrader 5, cTrader, TradingView, and the specialized Iress terminal for exchange-traded equities. The environment supports algorithmic EAs, automated cTrader bots, custom indicators, and scalping strategies. Live accounts open with an accessible $100 minimum deposit requirement. The Standard account offers spread-only trading without commissions, whereas the Raw ECN account features interbank pricing from 0.0 pips with a competitive $6 per round-turn standard lot commission. Client funds remain segregated in top-tier financial institutions with retail negative balance protection.
Our verdict
The Tradelytic editorial assessment — independent of any commercial relationship.
FP Markets is a top-tier brokerage for active intraday traders, scalpers, and automated trading algorithms looking for tight execution costs and deep ECN liquidity. Its strong regulatory footprint across ASIC and CySEC guarantees high fund security and operational oversight. Featuring sub-40ms execution speeds, multi-platform support across TradingView, MetaTrader, and cTrader, and raw spreads starting at 0.0 pips, it offers a strong infrastructure for high-volume traders.
However, traders should evaluate platform specifics prior to account setup. Standard commission-free accounts carry wider average spreads (1.1-1.3 pips on EUR/USD), making the Raw ECN account the better choice. Furthermore, access to the advanced Iress share trading platform requires higher initial deposits and carries monthly market data feed costs for low-volume accounts.
Our take: FP Markets is an outstanding choice for serious forex and CFD traders. Opt for the Raw ECN account paired with cTrader, MT5, or TradingView to maximize pricing efficiency.
Pros & cons
The honest summary, weighed from our testing and trader feedback.
- Tier-1 regulation by ASIC (Australia) and CySEC (Cyprus)
- Extremely tight raw spreads starting from 0.0 pips on the ECN Raw account
- Low round-turn commission ($6 per standard lot) on Raw ECN accounts
- Multi-platform choice: MetaTrader 4, MetaTrader 5, cTrader, TradingView, and Iress
- Over 10,000 tradable instruments across Forex, Equities, Indices, Commodities, and Crypto
- Fast order execution speeds (under 40ms) using Equinix server infrastructure
- Unrestricted trading conditions: Scalping, hedging, news trading, and EAs permitted
- Client funds held in segregated Tier-1 accounts with negative balance protection
- Standard account spreads (averaging 1.1-1.3 pips) are higher than ECN pricing tiers
- Full access to the Iress platform suite requires higher minimum deposits and data fees
- International wire transfer withdrawals incur minor processing fees
- Does not accept clients based in the United States
Who it's for
Here's how to tell if this broker is right for you.
- Execute high-frequency scalping or automated EA strategies that rely on low-latency execution
- Want raw ECN pricing with competitive $6 round-turn commissions per lot
- Prefer using TradingView or cTrader for advanced charting and execution
- Need access to thousands of global equity CFDs alongside traditional FX markets
- Plan to link your MT4, MT5, or cTrader account to Tradelytic to audit performance metrics
- Seek commission-free trading without variable spread expansion on standard accounts
- Want zero-cost equity data feeds on specialized institutional stock terminals like Iress
- Are a US-based resident looking for retail CFD trading services
Fees & platforms
What it costs to trade, and what you'll trade on.
FP Markets delivers a low-cost ECN pricing model backed by multi-platform flexibility and direct market execution. With an accessible initial deposit requirement, zero internal fees on standard electronic withdrawals, and deep liquidity pools, FP Markets accommodates both individual retail accounts and institutional algorithmic systems. Below is a detailed breakdown of FP Markets’ spreads, commissions, non-trading fees, and trading software.
Spreads
FP Markets operates two distinct spread models. The Standard Account uses spread-only pricing with variable spreads starting from 1.0 pips (averaging around 1.1 to 1.3 pips on EUR/USD). The Raw ECN Account streams direct interbank pricing with raw spreads starting from 0.0 pips (averaging 0.1 to 0.3 pips during high-volume sessions).
Commission Fees
Standard accounts carry $0 per-lot trading commissions. Raw ECN accounts charge a competitive $3.00 per side ($6.00 round-turn) per standard lot traded. Equity CFD commissions vary by exchange platform, with Iress accounts charging small percentage commission rates per transaction.
Inactivity Fee
FP Markets does not enforce mandatory monthly account inactivity fees for MetaTrader, cTrader, or TradingView accounts. Dormant balances remain intact without recurring maintenance penalties.
Swap Fees
Overnight rollover charges apply to leveraged positions held past daily market close (22:00 GMT). Swap rates reflect underlying central bank benchmark rates plus a standard broker markup. Islamic swap-free account options are available for eligible traders.
Withdrawal Fees
Deposits and withdrawals via credit/debit cards, Neteller, Skrill, and local e-wallets process without internal broker deposit/withdrawal fees. International bank wire withdrawals incur a minor processing fee (typically $10 AUD equivalent).
Platforms & Tools
Traders can trade across MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView, Iress ViewPoint, and the FP Markets Mobile App. Advanced tools include autochartist integration, virtual private servers (VPS) for EAs, MAM/PAMM manager setups, and direct read-only investor API access for performance journaling.