FP Markets Review 2026

FP Markets’ Raw account delivers the lowest all-in cost of any major ASIC-regulated ECN broker we have tested. The A$3/side commission is A$0.50 cheaper than both Pepperstone and IC Markets on MT4/MT5, and unlike those two brokers, FP Markets charges the same rate on cTrader — meaning traders have free platform choice without a fee penalty.

One finding worth highlighting from our 30-day test: FP Markets’ EUR/USD average was 0.12 pips across all sessions, slightly wider than IC Markets’ 0.08 pip average. But when we calculated the full round-turn cost — spread plus commission — FP Markets came out A$0.80 per lot cheaper than IC Markets on MT4. The slightly wider spread is more than offset by the lower commission.

FP Markets offers five trading platforms — MT4, MT5, cTrader, TradingView and IRESS. This is more than any broker we currently review. Critically, FP Markets charges the same A$3/side commission on all three raw-spread platforms (MT4, MT5 and cTrader), unlike Pepperstone and IC Markets where cTrader is slightly cheaper. This means you can choose your preferred platform without any financial trade-off.

FP Markets has won Best MT Platform from ForexBrokers.com for six consecutive years through 2026. The implementation runs on Equinix servers in New York (NY4), London (LD4) and Tokyo (TY3). In our 50-trade execution test, MT4 averaged 29ms — faster than IC Markets’ 34ms average and Pepperstone’s 41ms average recorded in the same test period. MT4 supports the full EA ecosystem with scalping and algorithmic trading explicitly permitted.

MT5 adds multiple additional timeframes, pending order types and a built-in economic calendar not available in MT4. For traders who want the MT ecosystem but need more functionality than MT4, MT5 at FP Markets is the strongest implementation we have tested among Australian ASIC brokers.

FP Markets’ cTrader supports full depth of market (DOM), Level II pricing and cAlgo for C#-based algorithmic strategies. The A$3/side commission is identical to the MT4/MT5 accounts — unlike Pepperstone (MT4: A$3.50, cTrader: A$3.00) and IC Markets (similar differential). At FP Markets, MT4 and cTrader traders pay exactly the same, making platform choice purely about preference rather than cost.

FP Markets offers live order execution directly from TradingView charts on both Standard and Raw accounts. This is available on both account types. However, some users have specifically reported chart freezing during high-volatility periods — something that does not affect the MT4/MT5 or cTrader implementations. FP Markets’ technical team states the issue has been addressed. We recommend testing this on a demo account during a major news event before trading live on TradingView.

IRESS is what separates FP Markets from virtually every other ASIC-regulated CFD broker. Unlike MetaTrader which only offers share CFDs (you never own the underlying shares), IRESS provides genuine Direct Market Access to real shares on the ASX, NYSE, NASDAQ, London Stock Exchange and other major exchanges. Orders go directly onto exchange order books — you are buying actual shares, not contracts for difference.

Three IRESS tiers: Standard (AUD 1,000 minimum), Platinum (AUD 25,000) and Premier (AUD 50,000). The AUD 55/month platform fee is waived if you generate AUD 200+ in monthly commissions or maintain Premier-tier balance. For investors wanting to trade forex and hold real ASX shares within one ASIC-regulated account, IRESS at FP Markets is the only option we have found at this price point.

*AUD 55/month IRESS fee waived if you generate AUD 200+ in monthly commissions or maintain AUD 50,000 balance (Premier). Islamic (swap-free) and demo accounts also available. 12 base currencies including AUD.

In our testing, card deposits were credited within minutes. AUD bank transfers took 1 business day. The main cost to be aware of is the USD 25 fee on international bank wire withdrawals — if you regularly need to withdraw to an overseas account, this adds up. All other withdrawal methods carry no fees at all.

Our test: card withdrawal arrived in under 24 hours — faster than the stated 1–2 business days. Minimum deposit: AUD 100 (MT/cTrader), AUD 1,000 (IRESS Standard).

We analysed community feedback from trading forums, Trustpilot (10,000+ reviews, 5-star average), TradingView and independent discussion groups. FP Markets has one of the most consistently positive user sentiment profiles among the brokers we review — with a clear, consistent pattern emerging across all sources.

FP Markets is a legitimate, well-regulated broker with 21 years of continuous ASIC regulation. We disclose the 2026 CySEC fine for transparency, but it does not change our safety assessment for Australian clients operating under the ASIC entity. The two issues to understand are: (1) the CySEC fine applies to the European entity only; (2) the April 2026 workforce reduction is being monitored for impact on support quality.

Australian clients trade with First Prudential Markets Pty Ltd (AFSL 286354), regulated by ASIC. Client funds are held in segregated accounts at major Australian banks, entirely separate from FP Markets’ operational capital. You can verify the AFSL on the ASIC Connect register directly.

The CySEC fine relates exclusively to First Prudential Markets Ltd (the European entity) and does not impact Australian ASIC-regulated accounts. FP Markets has maintained continuous ASIC regulation since 2005 with no Australian enforcement actions on record in 21 years of operation.