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FP Markets
TickmillFP Markets Review
Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Blain Reinkensmeyer
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader, TradingView, or cTrader platform. The Iress platform suite offers well over 10,000 tradeable symbols, but it’s mostly a share trading platform and is generally a much pricier option.
Forex and CFD traders will find a versatile, affordable MetaTrader and cTrader offering at FP Markets, but with fewer research and educational content than what is offered by industry leaders.
-
Minimum Deposit:
$100 AUD -
Trust Score:
89 -
Tradeable Symbols (Total):
10000
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FP Markets pros & cons
Pros
- Founded in 2005, FP Markets is regulated in two Tier-1 jurisdictions, one Tier-2 jurisdiction, and two Tier-4 jurisdictions.
- FP Markets offers the MetaTrader, cTrader, and TradingView suites, along with ultra-competitive spreads available by way of its commission-based Raw ECN account.
- FP Markets took home Best in Class honors in the MetaTrader, Algo Trading, and Commissions & Fees categories in our 2025 Annual Awards.
- FP Markets provides access to the Iress platform suite, which offers over 10,000 tradeable symbols.
- FP Markets recently introduced TradeMedic, an AI-powered trade analytics software for MetaTrader that can help traders learn from their past trading results.
Cons
- FP Markets’s new mobile app is a welcome addition to its mobile lineup, but it still lacks many of the features typically found in the best mobile trading apps.
- FP Markets’ educational content is not particularly strong, though it has improved year over year with the introduction of educational courses and more articles.
- FP Markets’ Iress platform is more focused on share trading than forex, and data fees can add up quickly unless you are an active trader or maintain a high-balance account.
- FP Markets’ Social Trading portal is compatible with MetaTrader 4, yet lacks the advanced performance metrics found with copy trading leaders.
- FP Markets has put together a few great podcast episodes but has not resumed recording new ones since 2022.
Overall Summary
| Feature |
FP Markets
|
|---|---|
| Overall Rating |
|
| Trust Score | 89 |
| Range of Investments |
|
| Commissions & Fees |
|
| Platform & Tools |
|
| Research |
|
| Mobile Trading |
|
| Education |
|
ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here's how we test.
Is FP Markets safe?
FP Markets is considered Trusted, with an overall Trust Score of 89 out of 99. FP Markets is not publicly traded, does not operate a bank, and is authorised by two Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and two Tier-4 regulator (High Risk). FP Markets is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC) and regulated in the European Union via the MiFID passporting system. Learn more about Trust Score or see where the different FP Markets entities are regulated.
| Feature |
FP Markets
|
|---|---|
| Year Founded | 2005 |
| Publicly Traded (Listed) | No |
| Bank | No |
| Tier-1 Licenses | 2 |
| Tier-2 Licenses | 1 |
| Tier-3 Licenses | 0 |
| Tier-4 Licenses | 1 |
Range of investments
FP Markets’ MetaTrader offering is limited to roughly 130 tradeable symbols, whereas the Iress platform suite offers an extensive range of CFDs to global clients, including over 10,000 shares, 71 forex pairs, four metals, 12 indices, five cryptocurrencies, and three commodities.
Cryptocurrency: Cryptocurrency trading is available at FP Markets through CFDs, but not available through trading the underlying asset (e.g. buying bitcoin). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents.
| Feature |
FP Markets
|
|---|---|
| Forex Trading (Spot or CFDs) | Yes |
| Tradeable Symbols (Total) | 10000 |
| Forex Pairs (Total) | 71 |
| U.S. Stock Trading (Non CFD) | No |
| Int'l Stock Trading (Non CFD) | No |
| Social Trading / Copy Trading | Yes |
| Cryptocurrency (Physical) | No |
| Cryptocurrency (Derivative) | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Commissions and fees
FP Markets offers highly competitive pricing through its MetaTrader and cTrader offering, making it one of the most cost-competitive brokers available to traders globally – at least for its commission-based ECN account offering.
FP Markets also earned Best in Class honors for Commissions and Fees in our 2025 Annual Awards. It's worth noting that FP Markets' share CFD offering on Iress provides Direct Market Access (DMA) in terms of its pricing and execution process, including full depth of book available within the platform. That said, the broker's Iress ViewPoint account option is less affordable, and is geared towards active traders with high-balance accounts.
Standard versus Raw ECN account: FP Markets’ Raw ECN account features competitive spreads – averaging 0.1 pips as of January 2025 (0.8 pips all-in after accounting for the commission). Its Standard account is a pricier option due to its significantly higher spreads (averaging 1.2 pips as of January 2025 for the EUR/USD). Likewise, its cTrader platform can be used with the spread-only standard account or the commission-based Raw account, which has a flat rate of $6 per round-turn standard lot ($3 per side) for forex trading (bringing the all-in effective spread to 0.7 pips using the above data from January 2025). Considering the Raw account only requires a deposit of $50, it is the preferred option, unless you need a commission-free account, in which case the Standard account will be ideal despite the higher overall cost when factoring the effective spreads (i.e. average spread plus any commission).
Iress ViewPoint Accounts (Australia): The FP Markets Iress platform suite offers three account options with varying minimum deposit requirements: Standard (AUD 1,000 minimum deposit), Platinum (AUD 25,000), and Premier (AUD 50,000). To avoid platform and data fees, you must either qualify for the Premier account or spend at least AUD 150 in commissions each month. Active traders and traders with high-balance accounts will find better deals at Saxo and CMC Markets.
Iress Investor Account (Australia): For traders seeking a bare-bones, low-cost experience, FP Markets also offers its Iress Investor trading platform. Monthly fees are waived for this less expensive account option, but with the reduced price come some platform limitations. There is no streaming data by default (click to refresh quotes), and the charting package is far more limited than its ViewPoint platform counterpart. My take: if you can’t afford the ViewPoint account, then pass on Iress Investor.
| Feature |
FP Markets
|
|---|---|
| Minimum Deposit | $100 AUD |
| Average Spread EUR/USD - Standard | 1.2 |
| All-in Cost EUR/USD - Active | 0.7 |
| Active Trader or VIP Discounts | Yes |
| ACH or SEPA Transfers | No |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
| Bank Wire (Deposit/Withdraw) | Yes |
Mobile trading apps
FP Markets delivers a good variety of mobile apps for forex and CFD traders. Its proprietary app has a nice layout for a new mobile app but lacks the advanced features that I’ve come to expect from the best brokers in this industry. Thankfully, MetaTrader and cTrader platform suites are available as reliable alternatives.
Apps overview: FP Markets offers four mobile trading apps: the popular MetaTrader platform suite developed by MetaQuotes, the cTrading platform suite developed by Spotware Systems, the Iress trading platform, and finally, its proprietary FP Markets mobile software.
As Iress is mostly optimized for share trading — not forex — I focused on FP Markets' MetaTrader offering and the FP Markets proprietary app for this review.
Charting: FP Markets’ mobile app offers rudimentary charting with no drawing tools and no indicators. That being said, traders at FP Markets also have access to the impressive charting tools that come standard with the MetaTrader suite of platforms.
Trading tools: FP Markets mobile app lacks any substantial trading tools. There is a favorites watchlist, and several other predefined asset class lists – but that’s it. You won’t find any integrated research or streaming news headlines.
| Feature |
FP Markets
|
|---|---|
| Android App | Yes |
| Apple iOS App | Yes |
| Mobile Alerts - Basic Fields | Yes |
| Watchlist Syncing | No |
| Mobile Charting - Draw Trendlines | Yes |
| Mobile Charting - Multiple Time Frames | Yes |
| Mobile Economic Calendar | Yes |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) |
Other trading platforms
FP Markets offers the Iress platform suite for share trading, but MetaTrader, cTrader, and TradingView are its primary platform options for forex and CFD trading. With support for Autochartist plugin integration as well as platform add-ons from FX Blue as part of its Trader Toolbox offering, FP Markets is a great choice for traders who want to use MetaTrader. FP Markets' excellent MetaTrader offering had it finishing Best in Class for MetaTrader in our 2025 Annual Awards.
Platforms overview: FP Markets offers the entire MetaTrader platform suite, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5), alongside cTrader developed by Spotware. Most recently, FP Markets launched the increasingly popular TradingView platform, available for its RAW account holders. There are also three web-based platforms available by way of the Iress platform suite: Iress Trader, Iress Investor, and Iress ViewPoint for active traders. For forex traders, MetaTrader is the better choice, while the Iress platform (specifically its ViewPoint account) is more ideal for shares trading.
Copy trading: FP Markets also offers its own social copy trading platform, and traders at FP Markets gain access to the MetaTrader signals market. These features — combined with support for Myfxbook — make FP Markets a good choice for social copy trading. Learn more about the best brokers for copy trading.
Charting: Charting on the Iress ViewPoint platform is powered by TradingView, and includes a clean watchlist tool and nearly 100 available technical indicators. That said, I had a hard time pulling up forex quotes and did not find any forex news headlines. Despite the decent charting tools available with the Iress platforms, MetaTrader remains the better choice for forex trading at FP Markets.
| Feature |
FP Markets
|
|---|---|
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| Social Trading / Copy Trading | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| DupliTrade | No |
| ZuluTrade | No |
| Charting - Indicators / Studies (Total) | 30 |
| Charting - Drawing Tools (Total) | 17 |
| Charting - Trade From Chart | Yes |
| Watchlists - Total Fields | 7 |
Market Research
Most of FP Markets’ research is found under the Traders Hub blog section on its website, where it is separated into technical and fundamental analysis. When compared to the best brokers for research, FP Markets has room to improve and could enhance its research offering by expanding it to include a wider array of daily content.
Research overview: FP Markets provides daily written articles and video content on its official YouTube channel. Headlines stream within the FP Markets MetaTrader platforms from top-tier sources such as Citibank, Rabobank, Commerzbank, Reuters, and other forex news providers. Research in FP Markets blog and website is well organized, except some categories contain outdated material or redirect to the same content.
Market news and analysis: FP Markets’ research section consists of a Daily Report, Technical Report, a weekly Market Insights outlook, and a Fundamental Analysis section that provides daily articles that cover global markets. I did notice during my testing that the Forex News section had outdated content.
| Feature |
FP Markets
|
|---|---|
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Autochartist | Yes |
| Trading Central (Recognia) | Yes |
| Social Sentiment - Currency Pairs | Yes |
Education
Though education is not FP Markets’ strongest point, the broker’s educational content continues to improve year over year with content such as podcasts, articles, and archived videos on its YouTube channel – all consolidated within its FP Markets Academy portal. Adding more advanced video courses would only serve to improve FP Markets’ educational experience.
Learning center: FP Markets offers nearly sixty archived webinars as well as a handful of instructional videos on its YouTube channel, and there are at least 34 articles available under its Forex 101 section. I was pleased to see that FP Markets has launched a podcast, though I found it to be pretty basic and there haven't been any new recordings since 2022. The podcast felt more like a transcribed audiobook – compared to an organic conversation that you would typical expect from that format. Adding interviews and more of a personal touch (and perhaps some market updates) would go a long way towards improving FP Markets’ foray into this new content format.
Room for improvement: While FP Markets has organized its educational content by experience level, the advanced section is still light on content, and courses are limited to a brief article and accompanying video and lack progress-tracking and quizzes. It's also worth mentioning that FP Markets video content on YouTube is mostly foreign language in recent months, while there are older archived videos in English. Improving these features by adding more English videos combined with a general expansion of the range and depth of FP Markets’ educational material would help FP Markets compete with education leaders such as Admirals and IG.
| Feature |
FP Markets
|
|---|---|
| Education (Forex or CFDs) | Yes |
| Client Webinars | Yes |
| Client Webinars (Archived) | Yes |
| Videos - Beginner Trading Videos | Yes |
| Videos - Advanced Trading Videos | Yes |
| Investor Dictionary (Glossary) | Yes |
Final thoughts
FP Markets stands out for the competitive pricing available to forex traders with its ECN account. However, that pricing is only available with the MetaTrader platform, and FP Markets offers only 764 symbols on MetaTrader 5 (MT5).
While there are over 10,000 symbols available for share trading, they are segmented away on the Iress platform, and its associated platform and data fees can be a hurdle – unless you are an active trader or you maintain a high-balance account.
Overall, forex and CFD traders will be satisfied by the MetaTrader experience provided by FP Markets, though the scope of its research and educational offering are limited, when compared to the best brokers. Nonetheless, FP Markets does continue to show incremental improvement within the research and education categories, and again placed best in class in the MetaTrader, Algo Trading, and Commissions & Fees categories in our 2025 Annual Awards.
About FP Markets
Headquartered in Sydney, Australia, FP Markets (First Prudential Markets) was founded in 2005 as an online retail forex and CFD broker. The brand’s entities are regulated in Australia and Europe, with a total of 95 employees as of 2019. Read more on Wikipedia about FP Markets.
ForexBrokers.com 2025 Annual Awards
For the ForexBrokers.com 2025 Annual Awards, brokers were evaluated against ForexBrokers.com’s 8 Primary Categories: Commissions & Fees, Range of Investments, Platforms & Tools, Mobile Trading Apps, Research, Education, Trust Score, and Overall.
Best in Class honors were awarded to the Top 7 forex brokers in each of the following areas: Beginners, Copy Trading, Ease of Use, MetaTrader, TradingView, Algo Trading, Crypto Trading, and Professional Trading.
Category awards
| Rank #1 | Streak #1 | Best in Class | Best in Class Streak | |
| Commissions & Fees | 5 | |||
| MetaTrader | 5 | |||
| Algo Trading | 4 |
2025 Review Methodology
At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.
Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score.
All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry.
Read our full explanation and accounting of our research and testing process to learn more about how we test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.
Article Resources
FP Markets Regulation FP Markets YouTube channel
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Show allAbout the Editorial Team
Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
John Bringans is the Managing Editor at ForexBrokers.com. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.
Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.