Minimum Deposit: $100
Regulation: ASIC (Australia), CySEC (Cyprus), St. Vincent & Grenadines
Spread On EUR/USD: 0 pips
Tradable Assets: 13,000+
Maximum Margin: 1:500

FP Markets Broker Review 2023


FP Markets (short for First Prudential Markets) is a forex brokerage firm that is locally based in Australia.

“…deep understanding of what traders need”

This, according to their website, is what sets them apart from other brokerages in the market.

Sounds impressive, right?

But were they able to prove such statement?

Will you really be able to enjoy these perks or are these only good on paper?

Continue reading this updated and detailed review to know the answer.


FP Markets Overview
Founded 2005
Platform MT4, MT5, Iress
Minimum account size $100
Minimum lot size 0.01
Tradable Assets 13,000+
Maximum margin 1:500
Spread on EUR/USD 0 pips
Payment methods Credit/Debit Cards, Domestic Bank Wire, International Bank Wire, Neteller, Skrill, PayPal, PoliPay, BPay, Fasapay, Paytrust88, Ngan Luong, Online Pay, Broker to Broker
Demo account Yes
Accepts US traders No
Regulated ASIC (Australia), CySEC (Cyprus), St. Vincent & Grenadines
Support Phone, Email, Live Chat


Visit FP Markets Site

Registration 9.6/10 4.8 out of 5 stars

The registration process at FP Markets is really not that complicated.

So let’s begin…

The initial form will only require you the details below which are pretty much very basic:

  • First and last name
  • Preferred account type (Individual, Joint, Corporate or Trust/SMSF)
  • Country
  • Email address
  • Phone number
FP Markets registration page

FP Markets registration page


You will be taken to the next page where you need to provide further details about you such as your date of birth, complete address and employment details.

Here’s the deal:

It might sound like a lengthy process but in reality, it will only take you just a few minutes to complete this task.

Further information requirements from FP Markets registration page

Further information requirements from FP Markets registration page

Once you have filled-up the required information, you will be taken to the next page.

And remember:

The last part of the registration process with require you to activate you account. Do take note that this step is essential since licensed brokers like FP Markets follow such guidelines from financial regulators.

Bottom line?

They comply with such policies which is definitely a good thing so don’t consider this as a disadvantage because in the end, this an essential to protect your account and keep it secure.


How to activate your FP Markets account?

Activating your FP Markets account will require you to submit 2 types of documents:

  • Proof of identity (POI) – Also know as photo ID. This can be a colored copy of a your valid passport, driver’s license or any government-issued ID card.
  • Proof of address (POA) – This should be less than 6 months old and can be a bank statement, utility bill, landline bill or internet bill under your name and your complete address.

After you have submitted the required documents, verification only takes 1 business day for their onboarding team accomplish this task.

And here’s the good news:

It could even be faster than that because they aim for completing the verification process in 1 hour.


If you want to sign-up with FP Markets now, you can click on the button below and we’ll take you straight to the registration page:


Go to FP Markets registration page


Account Types 7/10 3.5 out of 5 stars

With FP Markets, you’ll have 2 account options: Standard or Raw.

So what’s the difference?


FP Markets account types

FP Markets account types

Should you choose the Standard account, you’ll get to enjoy commission-free trading on over 60 products including currency pairs, indices and commodities with lighting-fast executions.

Additionally, this account will also give you the privilege of having ultra-low spreads of 0.0 pips and leverage of up to 1:500.


On the other hand…

The Raw account is ideal for experienced traders.

And although trading under the Raw account type comes with commissions, the charges are still considered to be very low as you can actually trade with just $3 for a lot while still enjoying fast execution speeds.

You’ll also have access to over 70 products and take advantage of the tighter spreads.

Demo Account 10/10 5 out of 5 stars

If you’re a newbie or you practically have no trading experience then it would be wise to utilize the demo account to your advantage.

Here’s the thing:

Demo accounts are the perfect avenues for practicing and honing your trading skills because you’ll be able to access the platform which is still equipped with real account features.

It allows you to enhance your knowledge without the need to risk your real capital which is why this mode is usually called risk-free trading.

This is the perfect way to test different strategies to determine which ones will work best for you and as you immerse yourself further, you’ll be more familiarized with the basics on how to generate good yields.

And once you’re ready to experience real trading, then you can easily switch to live mode via the client portal.

What’s more…

The demo account comes with $100,000 of virtual funds! That’s a lot of credits that you can use to get a feel of what the market is like and how you can take part of it.

FP Markets MT5 demo account

FP Markets MT5 demo account

But always remember:

Trading in practice mode doesn’t guarantee that you’ll have the same exact results when you go to live mode as market conditions are subject to change.


How to open an FP Markets demo account?

After logging-in to your account, you will be taken to the main client portal which shows your account summary including your live and demo accounts.

If you don’t see any account listed under Demo Accounts then that means that you need to create one. You can easily do this by clicking on the Add demo account button.

How to open an FP Markets demo account

How to open an FP Markets demo account

Simply choose which platform you’d like to use for your demo account and customize it according to your trading preferences.

FP Markets demo account options

FP Markets demo account options

Open an FP Markets demo account!

Payment Methods 10/10 5 out of 5 stars

Transferring funds into your FP Markets account will not be a problem because this broker supports plenty of banking methods.

You’ll be able to make a deposit via the following ways:

  • Credit and debit cards (Visa, MasterCard)
  • Domestic and international bank wire
  • Neteller
  • Skrill
  • PayPal
  • PoliPay
  • BPay
  • Fasapay
  • Paytrust88
  • Ngan Luong
  • Online Pay
  • Broker to broker

Needless to say…

You’ll have a lot of options to fund your account and you’ll be able to do that safely and securely.

For most payment methods, the funds will reflect instantly except for international bank wire which takes 1 business day.

With regards to deposit fees, you won’t be charged if you use credit cards, Neteller or Skrill while funds from international bank wire and broker to broker (except for Australian clients) will incur fees of $12 and $25, respectively.

FP Markets payment methods

FP Markets payment methods


It’s as simple as this:

The more ways you can send funds to your trading account, the more convenient it will be since your options are not limited.

So, if for some reason your primary mode of payment is unavailable, you’ll still have another gateway to use since your broker supports this.

Minimum Deposit 8/10 4 out of 5 stars

Regardless of the account type that you choose, the minimum opening balance with FP Markets is currently $100.

If we compare this with other brokerages which have much lower requirements ranging from $1 to $5, we can’t deny that there’s a huge difference.

But in reality, the question:

Would you trade with just $5 on your account?

Your answer is most likely NO especially if you have access to a wide variety of markets.

Here’s our take:

$100 is actually a good and ample capital to start with if you’re a beginner and if you’re planning to explore trading opportunities via forex and CFDs.


Get started with FP Markets!

Platforms 9/10 4.5 out of 5 stars

Trading with FP Markets can be done via the industry-standard MetaTrader 4, one of the most powerful platforms in the market today.

It comes complete with useful features including charting tools, technical indicators, price charts in real time, market news and insights and many more.

The interface can be easily customized and this includes technical indicators and charts. You can even stream live prices and set alerts based on your parameters or preferences.

Best of all…

It’s a platform that can be installed not only on PC’s but also on Macs and mobile devices that are running on iOS or Android.

All of these basic and advanced features makeup for a seamless trading experience.



You can also trade via the next-generation Metatrader 5 (MT5).

This multi-functional and all-in-one platform is ideal for modern and active traders with its wide range of technical analysis tools, outstanding charting capabilities, forex signals, automated trading systems, copy trading features and a whole lot more for a superior trading experience.

As if that’s not enough:

It’s also integrated with an economic calendar, market news, macroeconomic releases and detailed insights so you can always stay updated.


Alternatively, you can also open your MT4 or MT5 trading account via WebTrader.

This is a web-based platform which means that you can directly access it from Google Chrome, Mozilla Firefox, Microsoft Edge and other web browsers.

It’s a great option if you don’t prefer to download or install any software on your device and the good news is that it still comes complete with all the necessary trading tools and operations such as one-click trading, multiple order types and execution modes and price quotes in real time.

Design 10/10 5 out of 5 stars

Their interface of their platforms are very simple and sleek so you won’t have to worry about getting confused with complex menus or experience any system lags.

There are no loud colors so your eyes won’t get strained easily even if you’re spending a lot of time trading and browsing through the interface.

Such simplicity and user-friendliness merits a perfect score in this category.


Here’s a preview of some of their platforms:


FP Markets MT5 WebTrader platform

FP Markets MT5 WebTrader platform

FP Markets Android mobile app

FP Markets Android mobile app

FP Markets iOS mobile app

FP Markets iOS mobile app



Their platforms are very user-friendly and you will easily get used to it regardless if you’re accessing your account on a PC, Mac, tablet or smartphone.

They’ve done a terrific job in keeping it simple and not full of eye-candy.

Tradable Assets 10/10 5 out of 5 stars

Competition-wise, the number of tradable instruments is where FP Markets shines the brightest.

If you’re interested to invest on a wide range of markets then this broker is definitely a good choice because their platforms will allow you to choose from more than 10,000 instruments.

If we compare them to other popular brokers, their numbers are way up the charts since most of them usually just offer around the 100 to 300 range.

So how will this benefit you?

Signing-up with a brokerage firm that will allow you more financial instruments to trade in your daily routine is highly recommended since you won’t just be focused on one area like stocks or currency pairs (forex).

FP Markets tradable instruments

FP Markets tradable instruments


Below are the categories of assets that you can trade with FP Markets:


The platform provides access to over 50 FX pairs and this includes all the 7 major pairs, 21 minor pairs and 23 exotics.

Some of the notable instruments include EUR/USD, AUD/CAD, EUR/AUD, EUR/SGD, GBP/SEK, USD/CHF, AUD/CHF, EUR/CAD, EUR/TRY, GBP/SGD and USDCNH.


Common and popular commodities are also available including WTI crude oil, Brent crude oil and metals like gold and silver. Agricultural commodities however are missing in this section.


You’ll be able to place a buy or sell CFD contract on global equity indices such as the Australia 200, US 30, Euro 50, CAC 40, German 30, Hang Seng, Japan 225, US 500 UK 100, US Tech 100, China A50 and Singapore 30.


Go long or short is possible on the price movements of various companies from around the globe and the good news is that you’ll have over 2000 equities to choose from!

Some of the popular stocks you can invest on include Apple, Facebook, Google, Amazon and many more.

But remember this:

Equities can only be accessed on their Iress platforms and are not available on their MetaTrader platforms.


If you’re interested in cryptocurrencies, then you won’t be disappointed with this broker because they also offer this instrument type. The minor downside however is that there are currently 5 instruments in this category.

You will be able to trade on Bitcoin (BTC), Litecoin (LTC), Ripple (RPL), Ethereum (ETH) and Bitcoin Cash (BCH).

Take note:

Cryptocurrency trading via CFDs is not the same as buying and selling cryptocurrencies from an exchange.

Minimum Lot Size 10/10 5 out of 5 stars

Micro lot trading is allowed by this broker so you can buy and sell smaller amounts of assets with each of your trades.

The standard size of 0.01 and are available on all MT4 and MT5 accounts.

On the other hand:

The maximum lot size is dependent on the asset that you wish to trade. Currencies, for example, allow a 50 maximum lot size for each trade.

Spreads 10/10 5 out of 5 stars

Here’s another good news:

They offer variable spreads on their MetaTrader platforms which resource its quotes from major international financial institutions and liquidity providers including Barclays, HSBS, J.P.Morgan, RBS and Goldman Sachs.

If you’re signed-up for an ECN Raw account, you can even enjoy spreads for as low as 0 pips.

Such competitive pricing deserves a high score.

Quotes Accuracy 10/10 5 out of 5 stars

They provide Direct Market Access (DMA) pricing so the quotes that they provide are accurate and in real-time.

It’s so fast that they even received several awards for their best trading execution and for such technology, a perfect score is well-deserved.

Withdrawal Time 10/10 5 out of 5 stars

Withdrawing your funds can be done by accessing the Client Area but take note that initially, you will only be able to get back the same amount that you deposited via the payment method that you used on your account.

Transferring the funds earned via profits from your account to a different payment method will be allowed after you have completely withdrawn the first deposit that you made.


The processing time only takes 1 business day for all payment gateways including domestic and international bank wire provided that all the documents you submitted to them are correct and cleared by their verification team so be sure that you double-checked these.

All of our withdrawals were processed within the given time-frames and had no delays.

Customer Support 8.5/10 4.3 out of 5 stars

Always keep in mind:

Customer service quality and satisfaction are among the primary factors the you need to consider if you’re searching for a reliable and trustworthy broker.

Why do we say this?

Because you need to be with a trading company that takes care of their clients and not the ones that are just after their money.

Our experience with the FP Markets customer support department via phone, email and live chat were well above our expectations.

For clients in Australia, they offer a local phone support with a toll-free phone number. They also have an office in Sydney so you may pay them a visit if you wish to talk to one of their agents in person.

FP Markets contact page

FP Markets contact page

Alternatively, you can also get in touch with them via email or live chat with the latter being the more convenient option since you can instantly chat with one of their agents via their website.

FP Markets live chat support

FP Markets live chat support


Get started with FP Markets!

Credibility 8.6/10 4.3 out of 5 stars

Our team did a thorough research on FP Markets and we found out that they have a significant number of positive reviews from their satisfied traders. Below are just some of them:

FP Markets user review

FP Markets user review

FP Markets user review

FP Markets user review

FP Markets user review

FP Markets user review

It gets better…

Currently, this online forex broker is already a recipient of 30+ industry awards including the following:

  • Best Global Forex Value Broker Award
  • Outstanding Value CFD Provider
  • Best Customer Service
  • Best Trade Execution
  • Most Satisfied Traders
  • Best Education Material

Regulation and License 10/10 5 out of 5 stars

FP Markets is a group of companies which have licenses and registrations from the following international financial regulators and countries:

FP Markets logo

Conclusion 9.1/10 4.6 out of 5 stars

FP Markets is a standout brokerage among its competitors thanks to its advanced and cutting-edge platforms that are equipped with very useful tools for making more informed trading decisions.

With its full suite of over 13,000 trading products, it offers the convenience of being able to trade CFDs across various types of instruments via a single account.

Transparent pricing via ECN is also another prime advantage of this broker as it is capable of offering very competitive spreads that start from 0.0 pips so you’d get to enjoy the lowest slippage and deep liquidity.

Best of all…

Its numerous industry awards and current licenses from various regulators also add a certain level of security and reliability – something that you won’t easy find from an ordinary broker.


FP Markets is one of the leading forex brokers today so if you’re looking for a head start in your trading career then this brand is one that we strongly recommend.


Sign-up with FP Markets!

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