FP Markets review - Regulations, Trading Platforms and instruments, Pros and Cons.

3.001 • 169 REVIEWS
First Prudential Markets Also FPMarkets.eu
Updated: May 19, 2024

5 star review by safyu90, Sweden

Registered with FP markets almost a year ago. They offer lowest spreads compared to other brokers. Platform and execution super fast. Easy and fast deposits and withdrawals. wide range of products including Cryptos. Satisfied with FPmarkets ! overall good experience

What is FP Markets?

FP Markets is a forex broker established in 2005 and regulated by ASIC (Australia), CySEC (Cyprus), and the FSCA (South Africa).  It is also registered with the SVGFSA (St Vincent and Grenadines).

FPMarkets offers offers the popular MT4, MT5 and cTrader trading platforms plus added support for Autochartist plugin and FX Blue addons. FP Market Social Trading portal for passive copy-trade investors is fully compatible with MT4.

Australian traders focused on the stock market would be pleased with Iress DMA trading platform with charting by TradingView. Both MetaTrader and Iress have mobile trading apps. FP Markets offers its own mobile app as well.

There are over 10,000 trading and investment instruments offered by this broker including over 8,000 stock shares available with Iress, and over 70 forex currency pairs, cryptocurrencies, commodities, precious metals and indices as MetaTrader CFDs.

FP Markets analytics consists of daily and weekly technical analysis reports and a fundamental analysis folder covering current world economics events. The have a YouTube channel that has an extensive archive of trading education videos.

Please read FP Markets Reviews below and share live trading experiences with this broker.

February 2020 - January 2021:  Multiple accounts have spammed the FPA's forums for FPMarkets.  The first account involved in this incident has IP overlaps with FP Markets representatives as well as many of the later accounts involved in the incident.  CLICK HERE to see some of what was posted.

March-August 2021:  More FP Markets multis have continued to spam non-commercial areas of the FPA's forums.  Some of their posts have been added to the thread linked in the previous paragraph.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $100
Established: 2005
Address: Level 5, Exchange House 10 Bridge St Sydney NSW 2000, Australia
Contact: support@fpmarkets.com, +61 (0)2 8252 6800
Regional offices:
Regulators: ASIC #ABN 16 112 600 281, AFS 286354, CySEC #371/18, SVGFSA #126 LLC 2019, FSCA # FSP 50926
Prohibited countries:
Trading platforms: MT4, MT5, cTrader, WebTrader, IRESS
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

Currencies: (70+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (15+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Bonds, Oil, Other Commodities, Futures, ETF

Trading Conditions

Hedge: ✅ Yes
EAs/Robots: ✅ Yes
News Trading: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

MAM: ✅ Yes
PAMM: ✅ Yes
Copy Trading: ✅ Yes
Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, Dragonpay, FasaPay, Klarna, Neteller, Ngan Luong, PayPal, PayTrust88, PerfectMoney, Poli, Rapid Transfer, Skrill, SticPay, Transfer from Existing Broker, UnionPay
Withdrawal Methods: VISA, MasterCard, FasaPay, Neteller, Ngan Luong, PayPal, PayTrust88, Skrill
* Please check broker website for more information
3.001 • 169 REVIEWS

FP Markets Most Helpful Customer Reviews

SOUTH OF KOREA, Korea, Republic of,
Feb 22, 2023,
Registered user

The service of FP Markets is very good.

Service use: Live Length of use: 0-3 Months
The service of FP Markets is very good. The time of the deposit and withdrawal service is very fast, and in addition to the withdrawal of $10,000 or more, the amount before that can be withdrawn very quickly. They are friendly, and even though they do withdrawals every day, withdrawals can be made within 1 day, in some cases, within a few hours. The spreads are small, and I like the 1:500 leverage.
Nairobi, Kenya,
Dec 15, 2021,
Registered user

The most professional team. Superior platform

Service use: Live Length of use: 6-12 Months
I have traded with FP Markets for the last 7 months and they have candid service. Great customer care, fast withdrawals, many methods of deposits and withdrawals as well as tight spreads.

Jul 15, 2021 - No Rating This platform has the most professional team. Everything works perfectly well, from deposits/ withdrawals as well as verifications. Customer protection and security is their other name. I just love trading with FPmarkets.
Canada, Canada,
Apr 12, 2023,
Registered user

Withdrawn after I posted review for complaining on FPA.

Service use: Live Length of use: over 1 Year
First of all I have to say thank you FPA, I got the money after I posted review in next work day. But I still don't know what's wrong with my trading, what kind of trading habits it triggered the risk control team work on it. Unless I am afraid trading on fp markets.

Mar 30, 2023 - 1 Star My account number is 63512691. Trading at FP markets for couple of years. At Mar. 2nd, I win the profit, then applied withdraw. But nothing happening. Client support team keep the same replying : Keeping waiting. The account manager also say sorry he couldn't help more. Almost one month pass, I still cannot withdraw. Please keep an eye on this broker.

Reply by FP_Markets submitted Apr 5, 2023 Dear AlexYu1972,

We are sorry to hear you had a negative experience.

Please be advised that withdrawal requests are handled by FP Markets in a timely manner and in accordance with the terms and conditions that are already accepted by our clients.

Therefore, our review shows that specific parameters were not met, hence the delay. We are more than happy to contact us directly and explain. However, we can see that the amount was eventually withdrawn.

Kind regards,
FP Markets
1 trader has found this review helpful
Flitcroft, United Kingdom,
Nov 22, 2018,

500 x friendly (and they pay my salary!)

I recently had to switch from my broker when the new EU rules came in and I did not want to go to offshore. Having regulation in Australia which gets you 500:1 lev was a real pull. Also given they have been around for a while also helped. Been impressed by the one-2-one customer service and the co. has a friendly feel about it.
4 traders have found this review helpful
Forex Peace Army
Review moderation team note
5 Star Rating removed.

Thus reviewer has IP overlaps with multiple FP Markets employees as well as with an account used to spam the FPA's forums for FP Markets.  Per FPA policy, the rating on this review has been set to Zero stars.
Tbilisi, Georgia,
Dec 6, 2021,
Registered user

UPDATE to my case. FPmarkets still ignoring me...

Service use: Live Length of use: 6-12 Months
I am writing with regards to my issue with the withdrawal I am having with FPmarkets. My account number is: 8164066. I want to publish the only email they have sent to me 10 days ago, while I am still waiting for the reply from their risk team.

"Dear Mate,

Please be advised that we have identified abusive trading on your account(s) and as a result we will be disabling trading and terminating your account effective immediately.

As per the client agreement 1.1 we define the Abusive trading to be:

“Abusive Trading” shall mean the following actions, but not limited to, pip-hunting, scalping, arbitrage, manipulations or exploitation of any temporal and/or minor inaccuracy in any rate or price offered on the Trading Platform, a combination of faster/slower feeds, use of any robots, spiders or other automated data entry system with the Trading Platform (unless the Client receives express written consent by the Company prior to activating the robot), violation of the Client’s obligations under paragraph 2 of Appendix."

Under clause 25.1 (o) and 25.2 (g) we reserve the right to cancel profits gained through abusive trading.

Kind Regards,"

As you can see they don not specify anything, and just come with general statements, which could be applied to any trading strategy. They call is proof, I call it primitive SCAM. They are advertised as a company with a perfect conditions for a EAs, but happens to be, that you must get a written consent by the Company prior to activating the robot. I will quote information featured on their website: "FP Markets provide ideal conditions for scalping and EAs with no minimal distance between the spread." This is FPmarkets themselves! I cant believe that the people who are doing this to me wrote: "No price manipulation, no requotes and no dealing desk". They are a joke. I will continue to post communication updates. At least they are replying to me here. And the statement that their team has provided official reply me is a LIE!

Nov 27, 2021 - 1 Star I have been trading with them for over 6 months. My account number is: 8164066. During trading everything was perfect: spreads, pricing execution, but when I submitted a withdrawal issues started. I requested a withdrawal of 4.6K, and it was not processed in time. After communication with the support, my withdrawal was put on hold and only 2K were returned. My account was cancelled, all my data was deleted. The risk team does not reply to me and they do not agree to speak with me over the phone. Hopefully, I have all the trading history and data saved so I can contact the regulator. If somebody thinks that they are reliable brokers, they are wrong. They are regular marketmakers who do not want you to make profits and if you made profits they simply cancel it for some unrealistic reasons. So basically if you want to trade, make profits and get your deserved money they are definitely not for you! I hope this is going to be the way to get some feedback from them.

Reply by FP_Markets submitted Dec 1, 2021 Dear Mate,

We acted according to the FP Markets Client Agreement which you can find in the list of our CFD Accounts Legal Documents.

We have conclusive evidence that your account was engaging in abusive trading practices and therefore we have refunded your initial deposits.

Our team provided you with an official reply addressing your concerns.

If you have any further questions, don’t hesitate to let us know.

Kind Regards,
FP Markets
2 traders have found this review helpful

Recent User Reviews of FP Markets

pomorskie, Poland,
May 18, 2024,
Registered user

FP Market terminated my account becouse I published negative opinion on web

Service use: Live Length of use: 0-3 Months
FP Market terminated my account immediately because I published negative opinion on web.
Lack of respect for traders.

I have registered my account directly on your www. After then I was informed, Quote from FP Team:
Your account when opened was affiliated with an IB/Partner.
My account when opened was affiliated with an IB/Partner without my knowledge and without my acceptation.

2. I was promised by Team to have reduced spread from 6 to 4 usd round. Quote from Team: We can reduce by 1-2 dollars per lot. From 6 to 4 It was 2 months ago. Because he did not follow his promise, I sent to him several emails/reminders.
Today I received reply from Stefania, Quote:
I am in the unpleasant situation to inform you that a 2 USD discount is not something we offer.

So they promised and did not follow. Very unhealthy relation.
Keep away from them.
Paris, France,
Mar 18, 2024,
Registered user

Service use: Live Length of use: 3-6 Months
I am on FP Markets platform.  It has low fees and everything went well. My last withdrawal took a longer time, but still less than 10 days.

Mar 15, 2024 - 1 Star I want to share my experience , after keeping losing in last 4 months , I mad deposite of 1400$.
After 2 days I made withdrawal of 1674.48 ,only 274.48 arrived in my bank account , and 1400$ is missing, once I contacted the support keeps saying the same réponse my withdrawal was successfully processed,

تركيا, Turkey,
Mar 5, 2024,
Registered user

Fp markets manipulates deals and deletes profits

Service use: Live Length of use: over 1 Year
Please beware of this company and do not deposit. It is in the final stages of construction. After it closed most of its offices and gradually turned into a fake company

It has been trapping traders in the recent period with offers of spreads and low commissions
In the event of achieving profits, the company manipulates deals, deletes profits, or creates fake deals with the aim of losing the trader, zeroing out the balance and profits made, or closing deals suddenly. 

ارجو الحذر من هذه الشركة  و عدم الايداع
فقد اصبحت بالمراحل الاخيرة للنصب
بعد ان قامت بأغلاق معظم مكاتبها   و تتحول تدريجيا  لشركة وهمية

و تقوم بالايقاع بالمتداولين بالفترة الاخيرة بعروض السبريد  و العمولات المنخفضة
تقوم الشركة في حال تحقيق الأرباح  بالتلاعب بالصفقات  و حذف الارباح أو خلق صفقات وهمية بهدف خسارة المتداول و تصفير الرصيد و الأرباح المحققة او اغلاق الصفقات بشكل مفاجئ
1 trader has found this review helpful
singapore, Singapore,
Feb 22, 2024,
Registered user

disable account access including my funds for abnormal trading review

Service use: Live Length of use: 3-6 Months
have been using them for a couple of months. all was good until they suddenly sent a note to me saying they are pausing my account. they have cut off access to my funds and wont let me trade. furthermore, i had setup a trade that would make me more money that they asked me to close while they investigate.

i have my signals and am trading to that. I guess making money for them is the part they don't like. otherwise this is pretty straightforward - they are abusing their power by using fine language in their agreement.

now their support has no answers. they wont provide a timeline or anything of when this will be resolved

i would not recommend this trader and will certainly look for a more reputable broker.

1 trader has found this review helpful
Reply by FP_Markets submitted Mar 4, 2024:
Dear Nikunj,

We are sorry to hear you that had a negative experience.
Please be advised that FP Markets reserves the right to close accounts under specific circumstances outlined in the terms and conditions agreed by our clients during registration. Our assessment reveals that the account closure was a result of particular trading activities detected through our internal monitoring system.
We are available to provide further clarification upon direct contact with us.

Kind regards,
FP Markets
Cairo, Egypt,
Jan 28, 2024,
Registered user

Disappointed with Communication and Lack of Transparency

Service use: Live Length of use: 3-6 Months
I opened an account with FP Markets a few months ago and started trading CFDs on Forex. I was impressed by their low spreads, fast execution, and wide range of products.
However, things went downhill when I received an email from them saying that they had decided to terminate my account due to liquidity issues. They said that their liquidity providers had difficulty accommodating the trading flow from my account, however my account complies with there trading policies, free from abusive practices. and that they were offering me an alternative solution by creating a new account with institutional pricing and execution. This new account would include only major currency pairs for trading.

I was shocked and confused by this decision, as I had never received any warning or feedback from them about my trading activities. I had no idea what kind of trading activities they wanted me to avoid, or what criteria they used to evaluate my account. I tried to contact them via email and chat , but they never replied or answered my emails after this email. I felt like they were ignoring me and treating me unfairly.
Moreover, my experience with account management has been less than satisfactory. The account manager assigned to me changed every time, creating a lack of consistency and making it challenging to build a rapport. When I attempted to speak with the account manager for clarification, I was informed that the person was no longer worked at FPMarkets twice for 2 persons .

The positive thing was that they honored was that they let me withdraw the funds without any hassle. I appreciated their honesty and transparency in this regard, but I was still disappointed and frustrated by their lack of communication and professionalism.

I think FP Markets has a lot of potential as a broker, but they need to improve their customer service and communication skills. They should also be more clear and consistent about their trading policies and conditions, and provide more guidance and support to their clients. I would not recommend them to anyone who is looking for a responsive broker.

My accounts numbers 8473053 & 8579831
& 8418088 .
1 trader has found this review helpful
Reply by FP_Markets submitted Feb 5, 2024:
Dear Yousef,

We are sorry to hear about your unpleasant experience.

Please be informed that FP Markets may proceed to close accounts in certain situations as per the terms and conditions that clients agree to during registration. After reviewing your case, we found that your account was closed due to certain trading behavior that was detected through our internal monitoring.

Please feel free to contact us directly and we will be glad to provide an explanation.

Kind regards,
FP Markets

Frequently Asked Questions

Is FP Markets a good broker?

Unbiased traders reviews on ForexPeaceArmy is the best way to answer if FPMarkets is a good broker. https://www.forexpeacearmy.com/forex-reviews/10476/fp-markets-review.

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent FP Markets community discussions: https://www.forexpeacearmy.com/community/tags/fpmarkets.

Is FP Markets regulated?

FP Markets Pty Ltd is regulated in 3 countries:
  • Australia: By the Australian Securities and Investments Commission (ASIC) under an Australian Financial Services Licence (AFSL) 286354.
  • Cyprus: By the Cyprus Securities and Exchange Commission (CySEC) under license 371/18.
  • South Africa:  By the Financial Sector Conduct Authority (FSCA) under license FSP 50926.

What does FP Markets trade?

FP Markets offers a number of assets to trade with, including:
  • Forex
  • CFDs
  • Equities
  • Precious metals
  • Commodities
  • Indices
  • Cryptocurrency CFDs

What is the minimum deposit for FP Markets?

The minimum deposit to open an account from FP Markets is AUD100 or equivalent for all types of MT4 and MT5 accounts.