At a Glance · Who Should Use FP Markets? · Pros & Cons · How We Tested · Is FP Markets Safe? · Account Types · Spreads & Fees · Platforms · Instruments · For ICT Traders · vs Competitors · User Reviews · Final Verdict · FAQs
FP Markets has been quietly delivering institutional-grade execution to retail traders since 2005, earning a reputation as the “low-cost hidden gem” among ECN brokers. With ASIC and CySEC dual Tier-1 regulation, raw spreads from 0.0 pips, a $3/side commission (lowest in the industry), and access to 10,000+ instruments including direct share trading via the Iress platform, FP Markets punches well above its weight class. I tested their Raw ECN account on MT5, compared spreads against IC Markets and Pepperstone, and evaluated the TradingView integration. My verdict: FP Markets earns an 8.5/10 for its combination of best-in-class commission rates, strong regulation, and the broadest instrument selection available from an ECN broker.
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FP Markets at a Glance
| Detail | FP Markets |
|---|---|
| Founded | 2005 (Sydney, Australia) |
| Regulation | ASIC (Tier 1), CySEC (Tier 1), FSCA, FSC Mauritius, FSA Seychelles |
| Min Deposit | $100 AUD (~$70 USD) |
| Spreads (Raw) | From 0.0 pips + $3/side commission ($6 RT) |
| Spreads (Standard) | From 1.0 pips, no commission |
| Instruments | 10,000+ (Forex, Shares, Indices, Commodities, Crypto, ETFs, Bonds) |
| Platforms | MT4, MT5, cTrader, TradingView, Iress (shares) |
| Max Leverage | Up to 1:500 (offshore), 1:30 (ASIC/CySEC retail) |
| Copy Trading | Yes (Myfxbook, Signal Start, FP Markets Copy Trading) |
| Trust Score | 88/100 (BrokerMat) |
| Our Rating | 8.5 / 10 |
Last updated and verified: April 6, 2026
Who Should Use FP Markets?
| Trader Type | Verdict | Why |
|---|---|---|
| Cost-Conscious Traders | ✅ Ideal | $3/side commission is the lowest Raw ECN rate available |
| ICT / SMC Traders | ✅ Excellent | TradingView + cTrader integration, precision fills, 0.0 raw spreads |
| Share Traders | ✅ Unique | Iress platform for direct ASX share trading (AU clients) |
| Algo / EA Traders | ✅ Strong | No restrictions, VPS available, API access |
| Beginners | ✅ Good | Free education (webinars, videos, courses), demo account |
| US Traders | ❌ Not Available | FP Markets does not accept US clients |
FP Markets Pros and Cons
| ✅ Pros | ❌ Cons |
|---|---|
| ASIC + CySEC dual Tier-1 regulation | $100 AUD min deposit (higher than Exness/XM) |
| $3/side Raw ECN commission (lowest in industry) | Iress share trading limited to AU/select regions |
| 10,000+ instruments incl. shares, ETFs, bonds | No proprietary mobile app yet |
| MT4, MT5, cTrader, TradingView, Iress | Monthly Iress fee if trading volume is low |
| Raw spreads from 0.0 pips on ECN | Higher fees for international bank withdrawals |
| No inactivity fees, no deposit fees | Standard account spreads less competitive than competitors |
| Copy trading and MAM/PAMM accounts | Product range varies by region/entity |
| Negative balance protection, segregated funds | Customer support hours not 24/7 |
| Free education: webinars, courses, Autochartist | cTrader and TradingView limited to Raw ECN account |
How We Tested FP Markets
I opened a Raw ECN account with $200 AUD, traded EUR/USD and Gold on MT5 during London and New York sessions. I measured spread widths, compared the $3/side commission cost against IC Markets ($3.50) and Pepperstone ($3.50), tested TradingView integration for direct trade execution, and evaluated cTrader execution quality. This review is based on live trading.
Is FP Markets Safe?
FP Markets holds dual Tier-1 regulation from ASIC (AFSL 286354) and CySEC (371/18). Client funds are held in segregated accounts at AA-rated banks. CySEC clients receive ICF protection up to EUR20,000. Negative balance protection is standard. The broker has operated since 2005 with a clean regulatory record. FP Markets is one of the safest retail forex brokers available.
| Regulator | Tier | Protection |
|---|---|---|
| ASIC (Australia) | Tier 1 | Segregated funds, CDDA scheme |
| CySEC (EU) | Tier 1 | ICF up to EUR20,000, MiFID II |
| FSCA (South Africa) | Tier 2 | FSP registration |
| FSA Seychelles | Tier 3 | Higher leverage (500:1), weaker protection |
Account Types
| Feature | Standard | Raw ECN |
|---|---|---|
| Spreads | From 1.0 pips | From 0.0 pips |
| Commission | None (built into spread) | $3/side ($6 round turn) |
| Platforms | MT4, MT5 | MT4, MT5, cTrader, TradingView |
| Min Deposit | $100 AUD | $100 AUD |
| Best For | Beginners | Active/ICT traders |
The Raw ECN account is the clear choice for active traders. At $6 round turn per lot, it is the cheapest Raw account from any dual Tier-1 regulated broker. IC Markets charges $7 on MT4/MT5 and $6 on cTrader. Pepperstone charges $7 on MT4/MT5 and $6 on cTrader. FP Markets charges $6 across all platforms.
Spreads and Fees
| Instrument | FP Markets Raw | IC Markets Raw | Pepperstone Razor |
|---|---|---|---|
| EUR/USD | 0.0 pips | 0.02 pips | 0.0 pips |
| GBP/USD | 0.2 pips | 0.3 pips | 0.4 pips |
| Gold (XAU/USD) | 0.4 pips | 0.5 pips | 0.7 pips |
| Commission (RT) | $6/lot | $7/lot (MT), $6 (cTrader) | $7/lot (MT), $6 (cTrader) |
| All-In EUR/USD Cost | ~$6.00/lot | ~$7.20/lot | ~$7.00/lot |
FP Markets has the lowest all-in trading cost of any Tier-1 regulated broker. On EUR/USD, the $6/lot commission plus near-zero spread delivers approximately $6.00 per standard lot round turn, compared to $7.00-7.20 at IC Markets and Pepperstone.
Platforms
FP Markets supports five platforms: MT4, MT5, cTrader, TradingView, and Iress (for direct share trading). The TradingView and cTrader integrations are available on the Raw ECN account. This five-platform lineup matches Pepperstone and exceeds IC Markets (four platforms). Iress is unique to FP Markets among these competitors, providing direct market access to ASX-listed shares for Australian clients.
Instruments
10,000+ instruments is the broadest selection of any ECN broker. This includes 70+ forex pairs, 9,000+ share CFDs, indices, commodities, ETFs, bonds, and 12+ cryptocurrencies. The share CFD and ETF coverage is particularly strong, giving traders access to global equity markets alongside their forex trading.
FP Markets for ICT and Smart Money Traders
FP Markets is an outstanding choice for ICT methodology. TradingView integration means you can markup your market structure, draw Order Blocks and FVGs, and execute directly. Raw spreads from 0.0 pips give precision on entries. The $6 RT commission is the cheapest available from a Tier-1 regulated broker, maximizing your net profit per trade. No strategy restrictions (scalping, hedging, news trading, EAs). The 70+ forex pairs cover all the pairs ICT traders commonly analyse.
The only limitation for ICT traders is leverage: 1:30 for ASIC/CySEC retail. If you need higher leverage, you can onboard under the FSA Seychelles entity (up to 1:500) with weaker regulatory protection.
FP Markets vs Competitors
| Feature | FP Markets | IC Markets | Pepperstone |
|---|---|---|---|
| Regulation | ASIC, CySEC | ASIC, CySEC | FCA, ASIC, CySEC, BaFin |
| Raw Commission | $6 RT (all) | $7 (MT), $6 (cTrader) | $7 (MT), $6 (cTrader) |
| Instruments | 10,000+ | 2,250+ | 1,726+ |
| Min Deposit | $100 AUD | $200 | $0 |
| Platforms | MT4, MT5, cTrader, TV, Iress | MT4, MT5, cTrader, TV | MT4, MT5, cTrader, TV, Own |
| Share Trading | Yes (Iress DMA) | No (CFDs only) | No (CFDs only) |
| Best For | Lowest cost + shares | ECN execution | All-rounder |
FP Markets vs IC Markets
FP Markets wins on commission ($6 vs $7 on MetaTrader), instruments (10,000+ vs 2,250+), and share trading access (Iress DMA). IC Markets wins on daily volume ($29B+), Equinix server co-location (lower latency), and brand recognition. Both are ASIC + CySEC regulated. For the lowest trading cost, FP Markets edges ahead. For pure ECN execution infrastructure, IC Markets has the edge.
FP Markets vs Pepperstone
Pepperstone wins on regulatory breadth (8 jurisdictions vs 5), proprietary mobile app, Active Trader rebates, and spread betting for UK clients. FP Markets wins on commission cost ($6 vs $7 on MetaTrader), instruments (10,000+ vs 1,726+), and Iress share trading. Both offer TradingView integration. For all-round experience, Pepperstone. For lowest cost, FP Markets.
User Reviews
BrokerChooser gives FP Markets 4.2/5.0 stars. FXStreet and BrokerMat rate it highly for trading costs and platform variety. Traders praise the tight Raw ECN spreads, reliable execution, and responsive customer support. Criticisms focus on the higher international withdrawal fees, Iress monthly charges for low-volume traders, and product availability varying by region.
Final Verdict and Rating
| Category | Score | Notes |
|---|---|---|
| Safety & Regulation | 9.0/10 | ASIC + CySEC Tier 1, 21-year track record |
| Trading Costs | 9.5/10 | $6 RT commission, lowest Tier-1 ECN rate |
| Platforms | 9.0/10 | 5 platforms including TradingView and Iress |
| Instruments | 9.5/10 | 10,000+ including shares, ETFs, bonds |
| Education | 8.0/10 | Webinars, courses, Autochartist, Trading Central |
| Support | 7.5/10 | Responsive but not 24/7 |
| Overall | 8.5 / 10 | Best-value Tier-1 ECN broker |
FP Markets is the broker you choose when you want the lowest possible trading cost from a properly regulated ECN broker. The $6 RT commission across all platforms undercuts every dual Tier-1 competitor. The 10,000+ instrument selection is unmatched. TradingView and cTrader integration serve ICT traders well.
From our Mind, Method, Money framework: the Mind benefits from FP Markets’ educational resources and demo accounts. Your Method gets the cheapest ECN execution with TradingView integration for precision ICT entries. And your Money is maximized by the industry’s lowest Tier-1 Raw ECN commission rate.
Read The Complete Trader’s Edge for the complete framework. Visit our Trading Tools page for all recommendations.
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Frequently Asked Questions — FP Markets 2026
Is FP Markets safe in 2026?
Yes. FP Markets is regulated by ASIC (Tier 1) and CySEC (Tier 1) with segregated client funds at AA-rated banks. 21-year track record with no major regulatory issues.
What is the FP Markets minimum deposit?
$100 AUD (approximately $70 USD) for both Standard and Raw ECN accounts.
What are FP Markets commissions?
Raw ECN: $3/side ($6 round turn) across all platforms. This is the lowest Raw commission from any Tier-1 regulated broker. Standard: no commission, costs built into the spread.
Does FP Markets offer TradingView?
Yes. TradingView integration is available on the Raw ECN account, allowing direct trade execution from TradingView charts.
Is FP Markets available in the US?
No. FP Markets does not accept US clients.
How many instruments does FP Markets offer?
10,000+ including 70+ forex pairs, 9,000+ share CFDs, indices, commodities, ETFs, bonds, and 12+ cryptocurrencies.
Does FP Markets offer direct share trading?
Yes. Australian clients can trade ASX-listed shares via the Iress platform with direct market access. This is unique among ECN forex brokers.
Does FP Markets charge inactivity fees?
No inactivity or account maintenance fees on MT4/MT5/cTrader accounts. Iress accounts may incur a monthly fee ($55 AUD) if trading volume thresholds are not met.
Is FP Markets good for ICT traders?
Excellent. TradingView integration, 0.0 raw spreads, the cheapest Tier-1 commission ($6 RT), and no strategy restrictions make it one of the best choices for ICT methodology.
FP Markets vs IC Markets: which is better?
FP Markets wins on cost ($6 vs $7 commission) and instruments (10,000+ vs 2,250+). IC Markets wins on execution infrastructure and daily volume. Both are ASIC + CySEC regulated.
What platforms does FP Markets support?
MT4, MT5, cTrader, TradingView, and Iress. Five platforms total, matching Pepperstone for the broadest selection.
Does FP Markets allow scalping and EAs?
Yes. No restrictions on any trading strategy including scalping, hedging, news trading, and Expert Advisors.
What leverage does FP Markets offer?
Up to 1:500 on offshore entities, 1:30 on ASIC/CySEC for retail. Professional traders may qualify for higher leverage under ASIC.
Does FP Markets offer a demo account?
Yes. Free unlimited demo accounts available on all platforms.
Does FP Markets offer copy trading?
Yes. Via Myfxbook AutoTrade, Signal Start, and FP Markets’ proprietary copy trading feature. MAM and PAMM accounts are also available for money managers.
