What We Tested
- Account type: Raw Account ($500 starting balance for test)
- Platform: cTrader and Iress
- Trading period: 4 months, 110 trades executed
- Pairs tested: EURUSD, AUDUSD, Australian Shares CFD
- Withdrawal tests: 2 successful (PayPal, Bank Wire)
- Support tests: 5 inquiries via live chat
Testing focused on execution quality of the Raw Account. We also checked the features and usability of the Iress platform for stock CFDs.
Regulation & Safety
FP Markets holds strong regulatory oversight from two major global authorities:
- ASIC (Australia) – Tier-1 regulation, strong compliance.
- CySEC (Cyprus) – Tier-2 regulator. Client money covered up to €20,000 by the ICF.
- FSA (Seychelles) – International entity, offering higher leverage.
How licences work and what offshore routing changes: Offshore Brokers: Jurisdiction Risk · How Regulated Brokers Scam Legally
Spreads & Execution
| Pair/Asset | Raw Avg Spread | Standard Avg Spread | Commission (Raw) |
|---|---|---|---|
| EUR/USD | 0.1 pips | 1.1 pips | $6.00/lot RT |
| GBP/USD | 0.4 pips | 1.6 pips | $0 |
| US Shares CFD | N/A | N/A | $0.02/share |
Raw Account offers true ECN pricing with commission. Standard Account is commission-free with markup.
Execution Model and Quality
- Execution Model: ECN/STP (No Dealing Desk)
- Commission Cost: $6.00 RT per lot (Average)
- Median Fill Time: ~40ms (Slower than IC Markets/Pepperstone).
- Slippage: Minimal and generally neutral.
Execution is reliable but not ultra-fast. The ~40ms average speed is adequate for day trading but trails behind the industry-leading ECN brokers (who achieve <10ms).
What sits behind these execution numbers: Slippage and Latency · Anatomy of an Order · Trading terms glossary
Unrivaled Platform Variety (cTrader, MT4, MT5, Iress)
FP Markets stands out by offering four different trading platforms, catering to every style and asset class:
- MT4/MT5: For the vast EA library and universal compatibility.
- cTrader: For professional ECN execution and depth-of-market tools.
- Iress: Specialized platform for advanced stock and share CFD dealing.
- Benefit: A trader can manage ECN Forex (cTrader) and stock CFDs (Iress) from one broker account.
That is unusual platform flexibility. It suits advanced traders running several strategies and asset classes at once.
Account Types & Fees
Raw-spread account
- Min deposit: $100
- Spreads: From 0.0 pips (avg 0.1 pips)
- Commission: $6.00/lot RT
- Best for: Scalpers and EAs.
Standard-type account
- Min deposit: $100
- Spreads: From 1.0 pips (markup included)
- Commission: $0
- Best for: Beginners and simplicity.
Other Fees
- Deposit fees: $0 (all methods)
- Withdrawal fees: Varies (fees apply to certain methods like Skrill, Neteller, etc.).
- Inactivity fee: None
- Swap rates: Standard overnight financing applies; Islamic accounts available.
Deposits & Withdrawals (Tested)
FP Markets offers free deposits but passes withdrawal fees to the client on some methods:
| Method | Amount | Processing Time | Fees | Notes |
|---|---|---|---|---|
| Credit Card/Debit Card | $300 | 1 business day | $0 | Return to source policy. |
| Bank Wire | $1,000 | 2-5 business days | Varies | Broker may charge fees for international wire. |
| PayPal | $200 | Same day (4 hours) | $0 | Fast and free. |
| Skrill/Neteller | $200 | Same day (4 hours) | Yes (e.g., 1%) | Fees applied. |
How payout problems start at weaker brokers: Withdrawal Blocking Patterns
Platforms & Tools
- MetaTrader 4 & 5 (MT4/MT5): Full support for EAs and custom indicators.
- cTrader: Professional ECN platform with depth of market.
- Iress: Advanced platform specializing in share dealing and stock CFD trading (requires higher minimum deposit).
- Tools: Dedicated research and analysis tools (e.g., Autochartist).
Our Take: The platform suite is comprehensive. The inclusion of cTrader and Iress alongside MT4/MT5 makes FP Markets a highly versatile broker for multi-platform traders.
Customer Support (Tested)
FP Markets offers multilingual 24/5 support:
- Live Chat: 24/5, highly responsive, professional staff.
- Phone Support: Dedicated global lines (high quality).
- Quality: Customer service is professional and quick to respond, suitable for all client inquiries.
24/5 support is fast and professional, meeting the standards of a Tier-1 regulated broker.
PROS
- Strong Regulation: Tier-1 ASIC, Tier-2 CySEC.
- Excellent platform variety (MT4, MT5, cTrader, Iress).
- Competitive Raw spreads (0.1 pips avg EUR/USD).
- Zero inactivity fees.
- Zero fees on most major funding methods (Card, PayPal).
CONS
- Commission on Raw Account ($6.00 RT) is high compared to industry low ($4.00 RT).
- Execution speed (~40ms) is slower than market leaders (<10ms).
- Fees apply to popular e-wallet withdrawals (Skrill/Neteller).
- Standard account spreads are wide (1.1 pips min).
Who Is FP Markets For?
- Great fit: Traders who need maximum platform flexibility (cTrader + MT4/MT5/Iress) and prioritize Tier-1 regulatory security.
- Good fit: Stock CFD traders who want the advanced features of the Iress platform.
- Not ideal: Ultra-fast scalpers, because execution runs near 40ms. Also traders who rely on fee-free e-wallet withdrawals.
Final Verdict
FP Markets is a versatile Australian ECN broker. Its platform range covers MT4, MT5, cTrader and Iress, under Tier-1 ASIC and Tier-2 CySEC regulation.
The Raw Account gives tight spreads, 0.1 pips on EUR/USD. The $6.00 RT commission is average, which puts total cost above the low-cost leaders. Execution speed (~40ms) is reliable but not class-leading.
Primary funding methods carry zero fees, and the operational record is strong. That makes it a safe choice for diversified traders.
How this score is calculated: Our testing methodology
