FP Markets review.

Overview

TrueBroker is a free broker safety checker, and this page is our review of FP Markets, scored 7.9 out of 10 across regulation, fees, platform, support and reviews. FP Markets is the trading name used across a group of forex and CFD brokerages, with the fpmarkets.com domain operated by FP Markets Ltd, the Saint Lucia entity, and it registers clients through whichever of several regulated entities corresponds to the country-branded page they land on.

Our previous score for FP Markets was 6.8 out of 10; this review scores it 7.9. That is our assessment moving, not a claim that the firm changed: this review scores regulation at 6.8, fees at 9, platform at 9.2, support at 7 and reviews at 8.3, and the current evidence behind those figures runs from Islamic-account fee schedules to platform lists across MT4, MT5, cTrader and TradingView that were not part of the earlier write-up.

Which the firm entity actually opens your account

The single thing to establish before anything else is that “FP Markets” is not one company. Our evidence found at least six differently regulated legal entities operating under the brand: First Prudential Markets Limited in Seychelles, First Prudential Markets Pty Ltd in Australia, First Prudential Markets Ltd in Cyprus, FP Markets Ltd in Saint Lucia, FP Markets (Pty) Ltd in South Africa, and Tominus Ltd, also registered in Cyprus. Each carries its own contact details and its own list of excluded countries depending on which geo-branded version of the site a visitor lands on. The page titled “FP Markets UK” is a case in point: it is operated by FP Markets Ltd, a company registered in Saint Lucia, and the main fpmarkets.com domain shows visitors a popup stating the site “is operated by FP Markets Ltd. an entity that is not established in UK nor regulated by an UK nor EU National Competent Authority”, requiring the visitor to confirm they acted on their own initiative before proceeding. Which entity a client actually contracts with determines which regulator, if any, stands behind the account, and it also changes the terms on offer: the Australian entity, First Prudential Markets Pty Ltd, caps retail leverage at 1:30 under ASIC rules, against leverage up to 1:500 advertised on the UK, Indonesia and UAE-branded pages for the Seychelles and Cyprus entities.

We searched 16 public registers directly, running a positive control on each first so an empty result would mean absence rather than a broken search. The Australian Securities and Investments Commission register confirms AFS licence 286354 held by First Prudential Markets Pty Ltd (ABN 16 112 600 281, registered with ASIC since 31/05/2005). The Cyprus Securities and Exchange Commission register confirms licence 371/18 held by First Prudential Markets Ltd, with no adverse annotation, unlike some neighbouring entries on the same register page. The Seychelles Financial Services Authority lists First Prudential Markets Limited as a regulated securities dealer, though the register does not publish licence numbers, so the firm’s own “SD130” was not independently checked. South Africa’s Financial Sector Conduct Authority confirms FSP 50926 held by FP Markets (Pty) Ltd, status Authorized. Kenya’s Capital Markets Authority register lists FP Markets Limited under a non-dealing online foreign exchange broker licence, though no licence number was quoted on the pages we read, so licence 193 quoted by the register itself was not matched against a firm-published number. We also checked company registries behind these licences: Cyprus Registrar of Companies (via a mirror) shows First Prudential Markets Ltd as HE 372179, active since 27/07/17; the Seychelles company registry shows First Prudential Markets Limited as C8426368; the Australian Business Register confirms First Prudential Markets Pty Ltd’s ABN as a registered proprietary company; and Saint Lucia’s IBC name search confirms “FP Markets Ltd. (IBC)” exists, though its free tier does not publish a registration number, so the firm’s quoted 2025-00853 was not verified. A second Cyprus registration quoted for Tominus Ltd, HE 480296, had no page in the mirror we checked, which a lagging commercial mirror can produce rather than confirming or denying anything about the company. We also searched 1441 warning-list entries mirrored from CySEC, the FCA and the FSC Mauritius, and FP Markets appears on none of them, a result that covers only the lists we mirror.

Overview Table

Facts List

• FP Markets is one brand run through at least six separately registered and regulated legal entities, and which one signs up a client depends on the geo-branded page used to register.
• Our previous score for this firm was 6.8 out of 10; this review scores it 7.9, from current evidence across regulation (6.8), fees (9), platform (9.2), support (7) and reviews (8.3).
• We searched 16 public registers directly, with a positive control run first on each, and confirmed licences for the Australian, Cyprus, Seychelles, South African and Kenyan entities as listed above.
• We searched 1441 warning-list entries mirrored from CySEC, the FCA and the FSC Mauritius, and found no match for the firm on any of them.
• The “FP Markets UK” branded site is operated by FP Markets Ltd, a Saint Lucia company; the firm’s own popup on fpmarkets.com states that entity “is not established in UK nor regulated by an UK nor EU National Competent Authority.”
• The firm’s own risk disclosure, read on its UAE-branded contact page, states that 74.56% of retail CFD accounts lose money.
• Australian retail clients get a maximum of 1:30 leverage under ASIC rules; clients onboarded through the UK, Indonesia or UAE-branded pages are offered up to 1:500.
• An FP Markets Pro Account, reached by passing a Wealth Test or Experienced Trader Test, raises leverage but waives statutory retail protections under the Corporations Act 2001, access to ASIC’s Product Intervention order protections, and possibly access to AFCA dispute resolution, per the firm’s own account page.
• The firm’s regulation page states retail client funds “are always kept separate from the firm’s capital, held by leading banks” and are not used to meet company expenses.
• Islamic account holders are charged a per-lot administration fee in place of swap, which the firm’s own account page says it can revise, with notice given only by posting to its own website rather than direct client notice.

Key Takeaways

The score move, and why it moved

Our previous review scored the firm 6.8 out of 10 overall. This rewrite scores it 7.9 out of 10. That is our assessment shifting on the criteria below, not a claim that the firm changed anything about how it operates. Regulation holds at 6.8, the weakest of the five criteria, because the confirmed licences sit alongside gaps we could not close: a CySEC authorisation referenced on the site’s regulation page with no licence number or named entity to check, a Cyprus company number (HE 480296, for Tominus Ltd) that the register mirror we used simply does not carry, and a UK-branded page that turns out to be operated by a Saint Lucia company with no UK or EU regulator behind it at all. Fees score 9, platform scores 9.2, support scores 7, and reviews score 8.3; the overall is set at 7.9 out of 10.

What the registers actually show for FP Markets

We searched 16 public registers directly, running a positive control on each first so an empty result would mean absence rather than a broken search. The Australian Securities and Investments Commission register confirms AFS Licence No. 286354 held by First Prudential Markets Pty Ltd, ABN 16 112 600 281, since 31/05/2005. The Cyprus Securities and Exchange Commission register confirms licence 371/18 for First Prudential Markets Ltd, with no adverse annotation on the entry, unlike some neighbouring listings on the same page. The Financial Services Authority in Seychelles lists First Prudential Markets Limited as a regulated securities dealer, though the register does not publish licence numbers, so the firm’s own “SD130” is not something we could check against the register itself. The Financial Sector Conduct Authority in South Africa confirms FSP Number 50926 for FP Markets (Pty) Ltd, status Authorized. The Capital Markets Authority in Kenya lists FP Markets Limited as a licensee, though no licence number was published for us to check. On the company-registry side, the Cyprus Registrar of Companies (via a mirror) shows First Prudential Markets Ltd as HE 372179, active since 27/07/17; the Seychelles registry shows First Prudential Markets Limited as C8426368; the Australian Business Register shows the same Pty Ltd entity as ACN 112 600 281 as at a snapshot taken 2026-09-21; and a Saint Lucia name search turns up “FP Markets Ltd. (IBC)” without confirming the registration number the firm quotes, since that detail sits behind a paid search we did not run. We also searched 1441 warning-list entries mirrored from the CySEC, FCA and FSC Mauritius blacklists, and FP Markets appears on none of them.

What the firm charges

The firm’s own account pages put the Islamic Raw Account and Islamic Standard Account minimum deposit at US$100 or the equivalent. Commission on the Raw account is US$3 per side per lot for the UK, Indonesia and UAE-branded entities, and AU$3.50 per side per lot for the Australian entity; the Standard account carries no commission on either. Clients who convert to a swap-free account pay a nightly administration fee instead of swap, and the firm’s fee page gives examples: $6 per lot per night on EURUSD, $15 on USDJPY, $50 on XAUUSD and $60 on BTCUSD, with most FX majors carrying a five-night grace period before the charge starts. The firm’s terms and conditions state that it can raise these administration charges at any time, with notice given only by posting to its own website rather than messaging affected clients directly. On deposits and withdrawals, the fee page for Skrill and Neteller shows no deposit fee and next-business-day withdrawal processing.

Platforms and markets

FP Markets lists MetaTrader 4, MetaTrader 5, cTrader, TradingView and a browser-based WebTrader across its account pages, plus a MAM/PAMM tool for money managers and its own branded mobile app separate from the MT4/MT5 mobile terminals. The Australian-branded pages add Iress and a platform called Mottai, used for direct market access into shares and exchange-traded products; that combination does not appear on the JP/ZA-branded homepage, which lists only MT4, MT5, cTrader and WebTrader. Tradable markets span forex, shares, metals, commodities, indices, digital currencies, ETFs and bonds on the pages we read.

Support channels

Contact details differ by the geo-branded page: a Seychelles-entity phone line and supportsc@fpmarkets.com email, a separate Australian phone number and support@fpmarkets.com, and a Saint Lucia-entity office in Rodney Bay, Gros Islet, with its own toll-free number, support.team@fpmarkets.com, live chat and stated office hours of Sunday to Friday, 22:00 to 22:00 GMT. Islamic-account conversions and Pro Account applications route to their own dedicated email addresses.

Terms that bind a client

The terms and conditions we read state that “First Prudential Markets Limited may terminate this agreement and your access to the website at any time without notice,” and separately disclaim liability to the extent permitted by law…for any loss or damage, including without limitation to, direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with this website…even if [it] or its representatives are advised of the possibility of such damages. A client who upgrades to an FP Markets Pro Account, under the account page’s own “What Should I Be Aware Of” section, gives up entitlement to retail protections under the Corporations Act 2001, loses access to ASIC’s product intervention order protections, may be excluded from AFCA dispute resolution, is no longer guaranteed a PDS or FSG, and has their wholesale-client money treated differently, since it may be used by the firm for hedging in a way retail client money is not. The same regulation page states that retail client funds “are always kept separate from the firm’s capital, held by leading banks” and are not used to meet company expenses.

The entity behind the brand a client actually signs up with

“FP Markets” is the trading name used by at least six differently regulated companies: First Prudential Markets Limited in Seychelles, First Prudential Markets Pty Ltd in Australia, First Prudential Markets Ltd in Cyprus, FP Markets Ltd in Saint Lucia, FP Markets (Pty) Ltd in South Africa, and Tominus Ltd, also in Cyprus. The page titled “FP Markets UK” is operated by the Saint Lucia entity, and the main fpmarkets.com domain shows visitors a popup confirming it “is operated by FP Markets Ltd, an entity that is not established in UK nor regulated by an UK nor EU National Competent Authority,” requiring the visitor to confirm they acted on their own initiative with no solicitation from the firm. Leverage also depends on which entity onboards a client: the Australian account pages cap retail leverage at 1:30 on major forex, against 1:500 advertised on the UK, Indonesia and UAE account pages for the same instrument class.

Licenses & Regulation

FP Markets is one brand carrying at least six legal entities, each pulled from a different geo-branded page: First Prudential Markets Limited in Seychelles, First Prudential Markets Pty Ltd in Australia, First Prudential Markets Ltd in Cyprus, FP Markets Ltd in Saint Lucia, FP Markets (Pty) Ltd in South Africa, and Tominus Ltd, also in Cyprus. Which of those a client actually signs with, and therefore which regulator and which compensation scheme (if any) stands behind the account, depends on which country-branded version of the site was used to register, not on the the firm name itself.

The licences we checked

We searched the ASIC, CySEC, FSA Seychelles, FSCA and CMA Kenya registers directly, running a positive control on each first so an empty result would mean absence rather than a broken search. AFS Licence 286354, quoted on the site for First Prudential Markets Pty Ltd, is confirmed on the ASIC register as held by FIRST PRUDENTIAL MARKETS PTY LTD, ABN 16 112 600 281, since 31 May 2005. CySEC licence 371/18 is confirmed on the Cyprus Securities and Exchange Commission register, entered against Cypriot Investment Firms with no adverse annotation, unlike some neighbouring entries on the same page. FSP Number 50926 is confirmed on the FSCA register, held by FP MARKETS (PTY) LTD with status Authorized. The Seychelles FSA lists First Prudential Markets Limited as a regulated securities dealer, which confirms licence SD130 as an entity match, though the register itself does not publish licence numbers, so the number “SD130” remains the firm’s own claim rather than something we could read off the register. The Kenyan Capital Markets Authority lists FP Markets Limited as a non-dealing online foreign exchange broker, licence 193, on its own site; the firm’s marketing copy names CMA authorisation but quotes no licence number, so that figure was never checked. A separate CySEC claim, on the firm’s regulation page, names the regulator but gives neither a licence number nor an entity, so there was nothing there for us to look up: a gap in what was published, not a finding about the firm.

The company registrations behind First Prudential Markets and FP Markets Ltd

Company registrations are a different thing from a licence to deal in forex or CFDs, and we checked them separately. First Prudential Markets Limited appears on the Seychelles Business and Company Search under registration C8426368 (the firm prints it as 8426368-1), industry Business Services; the registry publishes no status or incorporation date. First Prudential Markets Ltd is registered in Cyprus as HE 372179, a limited company registered 27 July 2017 with status Active, per the Cyprus Registrar of Companies as mirrored by CyprusRegistry.com. Tominus Ltd’s quoted Cyprus number, HE 480296, has no page on that same mirror; a commercial mirror can lag the official register, so this is recorded as not checked, not as absent. “FP Markets Ltd. (IBC)” appears on the Saint Lucia Registry of International Business Companies name search as an International Business Company, but that free search publishes no registration number, incorporation date or status, so the quoted number 2025-00853 was not verified; an IBC listing there confirms a company, never a licence. On the Australian side, ABN 16 112 600 281 is confirmed in the ASIC Company Dataset (weekly snapshot, checked as at 2026-09-21) as First Prudential Markets Pty Ltd, an Australian proprietary company registered 21 January 2005, status registered; this is ASIC’s company register, separate from the AFS licence itself.

What the branding on FP Markets UK actually means

The page styled “FP Markets UK” is operated by FP Markets Ltd, the Saint Lucia entity, not a UK-authorised one. Visitors to the main fpmarkets.com domain are shown a disclaimer stating the site “is operated by FP Markets Ltd. an entity that is not established in UK nor regulated by an UK nor EU National Competent Authority,” and are asked to confirm the decision to proceed was made independently, with no solicitation from the firm. Restricted-country lists also differ by entity: the Saint Lucia-branded pages exclude a long list of jurisdictions but, unlike the Seychelles-branded pages, do not name the United Kingdom among them.

We searched 1,441 warning-list entries mirrored from CySEC, the FCA and the FSC Mauritius, and FP Markets appears on none of them. That covers only the lists we mirror, not every regulator worldwide, but it is a clean result across three separate authorities.

This review scores the firm 7.9/10 overall, up from 6.8/10 previously; on regulation specifically the criterion sits at 6.8. That reflects the confirmed licences across ASIC, CySEC, FSCA and the Seychelles FSA set against the entity-splitting the evidence shows: which regulator actually covers a given client depends on which geo-branded site they signed up through, the UK-branded page sits under a Saint Lucia entity outside UK or EU oversight, and one CySEC claim on the regulation page carries no checkable number at all.

How to Trade

FP Markets runs two core account types across MT4, MT5 and cTrader: Standard, with no commission and spreads the firm’s account page advertises “from 1.0 pips”, and Raw, with spreads “from 0.0 pips” plus a per-side commission that differs by entity, US$3 per lot on the UK and UAE pages and AU$3.50 per lot on the Australian site. Both list a minimum trade size of 0.01 lot on the UK account page. The firm’s own regulation page for the UK site states a live account needs “no minimum deposit required”, which sits alongside the $100 minimum deposit reported by the earlier review this write-up draws on; the two figures come from different pages and are given here as read, not reconciled. The homepage banner claims access to “10,000+ instruments” across “seven asset classes”, though the same page’s own list runs to eight: Forex, Shares, Metals, Commodities, Indices, Digital Currencies, ETFs and Bonds, plus Derivatives and Futures named in the site’s Markets navigation with no further description on the pages fetched.

Platforms available through FP Markets

The core lineup is MetaTrader 4, MetaTrader 5, cTrader and TradingView, backed by a browser-based WebTrader, a separately branded FP Markets mobile app, and MAM/PAMM tools for money managers. Platform access is not uniform across the brand’s geo-targeted sites: the Japan/South Africa-branded homepage lists only MT4, MT5, cTrader and WebTrader, with TradingView absent from that page’s platform list even though it appears on most other regional homepages. Australian clients get two platforms nobody else on the sites we checked does, Iress and a second one listed only as “Mottai” alongside it, with the Australian homepage describing Iress as a Direct Market Access platform for shares and exchange-traded products; the Australian legal page also notes “an extensive range of CFD trading products are also available through the Iress trading platform.”

Leverage and the the firm Pro Account

Leverage depends on which regulated entity opens the account. The Australian accounts page caps retail CFD leverage for First Prudential Markets Pty Ltd clients at 1:30 on major forex, 1:5 on shares and 1:2 on crypto, unless the client qualifies as a Wholesale Investor, a Sophisticated Client, or is approved for the FP Markets Pro Account, which the same page lists as going up to 1:500 on major forex, 1:20 on shares and 1:5 on crypto. The UK/Indonesia/UAE-branded account pages advertise up to 1:500 leverage on Standard and Raw accounts without the ASIC-style tiering, consistent with those pages sitting under a different entity in the brand’s structure.

Pro Account status is not free of trade-offs: the firm’s own Pro Account page states that qualifying clients waive entitlement to retail protections under the Corporations Act 2001, lose access to ASIC’s product intervention order protections, may be excluded from AFCA’s external dispute resolution scheme, are not owed a Product Disclosure Statement or Financial Services Guide, and that their money, once classed as wholesale under the Wealth Test, can be used by the firm for hedging or other purposes in a way retail client money cannot. Higher leverage on this account comes bundled with giving up several of the safeguards that apply to a standard retail client.

Swap-free trading and negative balance protection

Both Standard and Raw accounts have Islamic, swap-free equivalents on MT4, MT5 and cTrader, at the same minimum deposit and leverage as their conventional counterparts. In place of swap, FP Markets’ account page for Islamic trading describes a nightly administration fee that varies by instrument, for example $6 per lot per night on EURUSD, $15 on USDJPY, $50 on XAUUSD and $60 on BTCUSD, with most FX majors carrying a five-night grace period before the fee starts on the sixth night and most other instruments carrying no grace period at all. The same page states the firm can change these administration charges, with notice given only by posting the update to its own website rather than contacting the client directly. Converting to a swap-free account can also require extra paperwork: if religion is not stated on a client’s ID, the firm may ask for a Proof of Faith document.

On negative balance protection, the firm’s own Pro Account page scopes the guarantee specifically to “MT4 & MT5 FP Markets Pro Account holders”, which is narrower than the blanket, all-account-types claim found in some third-party coverage of the broker. A trader on a standard MT4/MT5/cTrader account, or on cTrader generally, should not assume the same protection applies without checking the terms for their own account.

Our previous review scored this broker 6.8/10 overall; this review scores it 7.9/10. That is a change in our own assessment, not a claim that the broker’s trading conditions have moved, and the platform criterion carries the clearest evidence for it at 9.2/10: three full-featured platforms plus TradingView and WebTrader, a defined Raw-account commission structure quoted per side in two currencies, and Islamic-account terms detailed down to per-instrument nightly fees are all read directly from FP Markets’ own pages rather than taken on trust.

Account Types

FP Markets sells the same two-tier structure across every regional site we pulled: a commission-free Standard account and a raw-spread account with per-lot commission. The names repeat (Standard, Raw) but the numbers behind them change by which entity signs the client up, and the account pages themselves say so.

Standard and Raw, and what changes by region

On the UK/international pages, the Standard account runs on MetaTrader 4, MetaTrader 5 and cTrader, covers forex, metals, indices, commodities and digital currencies, carries no commission, and caps leverage at 1:500 with a minimum trade size of 0.01 lot. The Raw account on the same pages adds TradingView and stocks to the instrument list, charges US$3 per side in commission, and keeps the same 1:500 leverage cap and 0.01 lot minimum. An earlier review of this firm put both accounts’ minimum deposit at $100 and described Standard spreads as running from 1.0 pips and Raw spreads from 0.0 pips; we are restating that from the earlier review rather than from a page we fetched ourselves.

The Australian entity, First Prudential Markets Pty Ltd, sells the same two account names through its own accounts page, but the terms differ: leverage is capped at 1:30 rather than 1:500, the Raw account’s commission is quoted as AU$3.50 per side rather than US$3, and both accounts add Iress and Mottai to their platform list, with Raw also carrying stocks and bonds. That gap is FP Markets’ own account pages describing two different retail leverage ceilings for the same account names, not a single global product.

Islamic accounts

The firm’s UK-branded accounts page describes swap-free Standard and Raw accounts on MT4, MT5 and cTrader, each requiring a minimum deposit of US$100 or its equivalent and capped at 1:500 leverage. In place of overnight swap, the page lists a per-instrument administration fee: $6 per lot per night on EURUSD, $15 per lot per night on USDJPY, $50 per lot per night on XAUUSD and $60 per lot per night on BTCUSD. Many FX majors have a 5 night grace period before the fee starts on the sixth night; most other instruments get none. The same page states the fee is not charged at the triple rate on standard triple-swap nights, and separately warns that “FP Markets reserves the right to update administration charges regularly,” with any change notified only via posting on the FP Markets website rather than direct message to the client. The page also says swap-free status can require extra paperwork: if a client’s official ID does not state their religion, the firm may ask for a Proof of Faith document.

The FP Markets Pro Account, and what it costs in protections

FP Markets’ own accounts page describes a Pro Account that carries no extra fee to open but requires passing either a Wealth Test or an Experienced Trader Test to qualify. The payoff is leverage well above the ASIC retail caps: up to 1:500 on major forex against 1:30 for retail Australian clients, 1:20 on shares against a 1:5 retail cap, and 1:5 on crypto against 1:2 retail, plus a personal account manager and access to the firm’s VIP program. The same page spells out what a client gives up to get there: no entitlement to retail protections under the Corporations Act 2001, no access to ASIC’s Product Intervention order protections, possible exclusion from AFCA external dispute resolution, no requirement for the firm to issue a PDS or FSG, and permission for the firm to use wholesale-client money for hedging or other purposes that retail client money is not exposed to. FP Markets scopes negative balance protection specifically to “MT4 & MT5 FP Markets Pro Account holders,” a narrower claim than blanket “all clients” coverage reported elsewhere.

Demo account

An earlier review of the firm described a demo account funded with virtual money, running on simulated market conditions with no time limit on practice access; we could not verify this against a page we fetched directly.

What the account pages don’t cover

None of the account pages in this evidence set mention a minimum deposit figure for the Pro Account, and the South African, Seychelles and Cyprus entities’ own account terms were not part of what we fetched, so this section describes the UK/international and Australian account pages and cannot speak to whether those other entities price the same accounts differently.

Negative Balance Protection

FP Markets’ own account pages do not promise negative balance protection to everyone who signs up. The Pro Account page ties the promise specifically to “MT4 & MT5 FP Markets Pro Account holders”, with a footnote marker attached to that line rather than a blanket statement covering every account type. That is narrower than the all clients regardless of account type framing that turns up in some third-party coverage of this broker, and it means a trader on a plain Standard or Raw account should not assume the same wording covers them without checking the terms that apply to their own account.

What an FP Markets Pro Account gives up for higher leverage

The Pro Account raises the leverage cap on major forex pairs to as much as 1:500, against the 1:30 that First Prudential Markets Pty Ltd, the ASIC-regulated entity, applies to ordinary retail clients (1:5 on shares, 1:2 on crypto). Qualifying means passing either a Wealth Test or an Experienced Trader Test, and the firm’s own Pro Account page sets out, under a heading titled “What Should I Be Aware Of”, what a client signs away to get there:

• no entitlement to the retail-client protections set out in the Corporations Act 2001;
• no access to ASIC’s product intervention order protections;
• possible exclusion from the Australian Financial Complaints Authority’s external dispute resolution scheme;
• no requirement for the firm to provide a Product Disclosure Statement or Financial Services Guide; and
• wholesale client money, the category a passed Wealth Test moves a client into, can be used by FP Markets for hedging or other purposes in a way retail client money cannot.

The same page is where the negative balance wording for MT4/MT5 Pro accounts sits, so the protection and the waiver arrive on the same document, tied to the same upgrade.

Leverage, and the drawdown that comes with it, depends on which the firm entity opens the account

FP Markets is one brand run through at least six separately regulated companies: First Prudential Markets Limited in Seychelles, First Prudential Markets Pty Ltd in Australia, First Prudential Markets Ltd in Cyprus, FP Markets Ltd in Saint Lucia, FP Markets (Pty) Ltd in South Africa, and Tominus Ltd, also in Cyprus. The Australian entity’s retail leverage cap of 1:30 on major forex sits well below the 1:500 advertised on the UK and international-branded account pages, so how far an account can move against a client, and how quickly a losing position eats through margin, differs by which of these entities actually onboarded them. The pages read for this review set out the Pro Account waiver structure and the leverage figures on the UK/international and Australian sites; they say nothing about whether the Cyprus, Seychelles or South African entities publish the same Pro Account tier or the same footnoted negative balance wording, which is a gap in what we fetched rather than a finding that those entities work differently.

Fund segregation and FP Markets’ own loss-rate figure

FP Markets’ regulation page states that retail client funds “are always kept separate from the firm’s capital, held by leading banks” and that “under no circumstance is client money used to meet company expenses.” That segregation commitment sits alongside a figure the firm discloses about itself: its own published risk warning gives a loss rate of 74.56% of retail CFD accounts losing money, a figure that comes from the firm’s own disclosure rather than from any outside study.

What FP Markets’ terms and conditions say about ending the relationship

The terms and conditions read for this review give First Prudential Markets Limited a unilateral exit: “First Prudential Markets Limited may terminate this agreement and your access to the website at any time without notice.” The same terms carry a broad limitation of liability for the website itself, stating the firm will not be liable in any way for any loss or damage, including without limitation to, direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with this website… even if [it] or its representatives are advised of the possibility of such damages. Both clauses sit in the website terms and cover the website and this agreement rather than trading losses specifically, but they set the tone for how much recourse a client has if something on the firm’s side goes wrong.

Set against a clean result on the 1,441 warning-list entries we searched across CySEC, the FCA and the FSC Mauritius, none of which named FP Markets or its entities, the picture on negative balance is narrower than a one-line “protected” claim would suggest: the protection we can point to in the firm’s own words is scoped to MT4/MT5 Pro Account holders specifically, and comes bundled with a waiver of several ASIC retail protections for the clients who take it up.

Trading Instruments

FP Markets brands itself around a single number: the homepage banner promises access to “10,000+ instruments” across “seven asset classes.” The same page then lists eight: Forex, Shares, Metals, Commodities, Indices, Digital Currencies, ETFs and Bonds. Both figures come from the firm’s own marketing copy, and they disagree with each other before a trader has opened an account.

What the firm actually lists, market by market

The UK-branded markets page describes 70+ major, minor and exotic currency pairs, shares “of the most popular listed companies in the world,” metals including gold, silver and platinum, commodities such as oil, gas, corn and sugar, major indices including the NASDAQ 100 and S&P 500, Bitcoin, Ethereum, Litecoin and altcoins under Digital Currencies, ETFs across “multiple investment classes and sectors,” and bonds specifically named as UK long-term gilts and US 10-year treasury notes. The site footer also carries Derivatives and Futures as separate navigation items, with no dedicated description of either behind them.

The account pages break this down differently depending on which account a trader opens. FP Markets’ UK/international Standard account page lists Forex, Metals, Indices, Commodities and Digital Currencies, with no shares. The Raw account page for the same region adds Stocks to that list. Neither account page mentions ETFs or Bonds by name, even though both instruments sit on the general markets page.

The Australian entity offers a different mix

First Prudential Markets Pty Ltd’s Australian account pages label everything as CFDs (Forex CFDs, Share CFDs, Index CFDs and so on) and list the Standard account as covering Forex, Metals, Indices and Commodities, with no Digital Currencies. The AU Raw account row lists Forex, Metals, Indices, Commodities and Stocks, and its description adds Bonds, again without Digital Currencies. That is a gap between what the AU account pages state and what the UK account pages state, not a stated ban; the evidence here is that the AU pages describe Standard and Raw account instruments without once naming crypto, while the equivalent UK pages do. Australian clients also get a different platform stack: alongside MetaTrader 4, MetaTrader 5 and cTrader, the AU site lists Iress (a Direct Market Access platform for shares and exchange-traded products, described as Australia-only) and a platform named Mottai, which appears in the AU navigation without further description on any page fetched.

A documented conflict on crypto access for UK retail clients

The firm’s Cyprus-entity page states that UK retail clients are not permitted to trade any product referencing crypto assets, including CFDs, citing FCA Policy Statement PS20/10, effective 6 January 2021. That same firm’s UK-branded homepage and markets page list Digital Currencies, including Bitcoin, Ethereum and Litecoin, as an instrument category available through that branding. Both statements come from FP Markets’ own pages; we are reporting the conflict between them, not resolving it, since resolving it would need whichever specific account-opening flow actually applies the FCA restriction, which was not among the pages fetched.

Leverage and account type change what an instrument is worth trading

The maximum leverage advertised also depends on entity and account. FP Markets’ UK/ID/AE account pages state a maximum of 1:500 for Standard and Raw accounts across MT4, MT5 and cTrader. The Australian Standard and Raw account pages cap leverage at 1:30. FP Markets’ Pro Account page for retail clients wanting more describes reduced leverage as the ASIC default for retail CFD and forex clients, for example Major Forex at 1:30, Shares at 1:5 and Crypto at 1:2, unless the client qualifies as a Wholesale Investor, Sophisticated Client, or an approved Pro Account holder, at which point leverage on the same page rises to up to 1:500 on major forex, 1:20 on shares and 1:5 on crypto. Trading the same instrument, in other words, carries a materially different leverage ceiling depending on which of FP Markets’ six regulated entities the account sits under and which account tier applies.

Swap-free pricing gives a second view of instrument range

FP Markets’ Islamic account page lists per-instrument administration fees that double as a rough map of what actually trades: EURUSD at $6 per lot per night, USDJPY at $15 per lot per night, XAUUSD at $50 per lot per night, and BTCUSD at $60 per lot per night, charged instead of swap on Islamic Standard and Raw accounts across MT4, MT5 and cTrader. The same page notes most FX majors carry a five-night grace period before the fee starts from the sixth night, while most other instruments carry no grace period at all. The Standard and Raw account pages also give a minimum trade size of 0.01 lot on both tiers.

Same brand, different rulebook depending on the entity

Because FP Markets operates through First Prudential Markets Limited in Seychelles, First Prudential Markets Pty Ltd in Australia, First Prudential Markets Ltd in Cyprus, FP Markets Ltd in Saint Lucia and FP Markets (Pty) Ltd in South Africa, the asset list, leverage and platform set a trader sees depends on which country-branded version of the site they registered through, not on the the firm name alone. A visitor landing on the main fpmarkets.com domain is shown a disclaimer that the site “is operated by FP Markets Ltd, an entity that is not established in UK nor regulated by an UK nor EU National Competent Authority,” and must confirm they acted on their own initiative before proceeding, on a page branded “FP Markets UK.” Anyone comparing instrument lists, leverage or fees across regions should check which entity’s page they are actually reading rather than treating the brand as one offering.

Education & Analysis

The firm’s own platform pages list MetaTrader 4, MetaTrader 5, cTrader, TradingView, WebTrader and a separate FP Markets Mobile App across most of its geo-branded sites, alongside a MAM/PAMM listing for money managers. That is a wide spread of charting and execution tools for a CFD broker, and it is the main reason the platform criterion carries the highest score in this review at 9.2.

MetaTrader, cTrader and TradingView on FP Markets

The platforms page describes MT4 as available on desktop (Windows/Mac), web and mobile (iOS/Android), with Expert Advisors, one-click trading and 128-bit SSL encryption. MT5 is pitched on the same pages as the multi-asset option, with improved backtesting and a built-in economic calendar. cTrader appears in the trading-platform navigation on the UK/international site with its own dedicated fees and charges page, and TradingView is listed as a platform option across most of the geo-branded homepages we checked. WebTrader is kept as its own menu entry, separate from the MT4 and MT5 mobile logins, described as a web-based version of MT4/MT5 that needs no installation.

What the Australian arm of the firm adds

The Australian homepage lists two platforms not offered on the UK/international pages we fetched: Iress and Mottai. Iress is described as an Australia-only Direct Market Access platform, split into Iress Trader and Iress ViewPoint, aimed at shares and exchange-traded products, and the same two account-type pages for Australia list Iress and Mottai alongside MT4, MT5, cTrader and TradingView for the Raw account. Mottai turns up in the Australian site navigation next to Iress, but nothing in the pages we read explains what it does beyond that listing. The regulation page for the same UK/international brand separately notes that “an extensive range of CFD trading products are also available through the Iress trading platform”, so Iress access is not confined to the Australian account pages alone, even though the dedicated DMA description only appears on the Australian site.

The platform list is not the same on every FP Markets page

Platform availability is not consistent across the firm’s own geo-branded sites. The homepage aimed at Japan/South Africa-branded visitors lists only MetaTrader 4, MetaTrader 5, cTrader and WebTrader as trading platforms, with no mention of TradingView, while most other country versions of the site, including the UK/international one, do list TradingView. Nothing in the pages we fetched explains the gap, so a trader signing up through one country-branded entry point cannot assume the tool list on another entry point applies to their account. The account type pages reinforce the same regional split for account features generally: the Standard and Raw account pages for the UK/international entity quote a maximum leverage of 1:500, while the equivalent Standard and Raw pages for the Australian entity quote 1:30, consistent with the reduced leverage the firm sets out for ASIC-regulated retail clients unless they qualify for Pro Account status.

MAM/PAMM and the instrument count

MAM/PAMM is listed in the Trading Platforms navigation on the UK/international site, aimed at money managers running allocated accounts rather than a charting tool in its own right. Separately, the homepage banner tells visitors they can access “10,000+ instruments” across “seven asset classes,” but the same page then names eight asset classes: Forex, Shares, Metals, Commodities, Indices, Digital Currencies, ETFs and Bonds, with Derivatives and Futures also appearing as separate Markets navigation items in the site footer without a supporting description in the pages we fetched. That is a discrepancy inside the firm’s own marketing copy, not a finding about what the platforms actually offer, and worth flagging because a reader counting the asset classes on the same page as the “seven asset classes” claim will get eight.

Across all of this, the pages we fetched describe charting and execution as split between the MetaTrader suite, cTrader and TradingView for charting-led analysis, WebTrader and the the firm Mobile App for browser and phone access, and Iress plus Mottai as an Australia-specific addition for direct market access to shares and exchange-traded products. They say nothing about proprietary in-house charting tools beyond what MT4, MT5, cTrader and TradingView already provide, so anything of that kind is not something we found rather than something the firm has ruled out.

Special Offers

We looked for a promotions page on FP Markets’ own site and did not find one among the pages we fetched. Nothing in the account, fee or terms material we read is framed as a deposit bonus, a cashback offer, a sign-up credit or a referral reward. That describes what our fetch turned up, not a claim that no such page exists anywhere on fpmarkets.com; it is a gap in what we read, not a finding about the firm.

What FP Markets publishes instead of promotions

The closest thing to an “offer” in the material we hold is the the firm Pro Account. The firm’s own account page states the upgrade carries no additional cost, but it is gated: a client has to pass either a Wealth Test or an Experienced Trader Test before FP Markets will open it. In exchange for higher leverage, the same page sets out what the client gives up, and it is worth reading in full before treating this as a straightforward perk. As FP Markets’ own Pro Account page puts it, a Pro Account holder has no entitlement to retail protections under the Corporations Act 2001, no access to ASIC’s Product Intervention order protections, possible exclusion from AFCA external dispute resolution, no requirement for the firm to provide a Product Disclosure Statement or Financial Services Guide, and wholesale client money qualified through the Wealth Test may be used by the firm for hedging or other purposes, unlike retail client money. That is a trade of regulatory protection for leverage, not a discount.

Fee waivers we found, and what they are not

FP Markets’ fee page for UK, Indonesia and UAE clients states there are no deposit fees when funding through Skrill or Neteller, with deposits processed in under an hour and withdrawals through those wallets taking one business day. Our earlier review also reported that FP Markets charges no fee on its own side for deposits by any listed method, with third-party providers such as banks or e-wallets able to charge their own fee regardless. Both describe a standard fee structure applied to every client on that method, not a time-limited or conditional promotion, and neither page frames it as one.

The Islamic account material on FP Markets’ UK-branded site works the same way: swap-free Standard and Raw accounts on MT4, MT5 and cTrader replace overnight swap with a per-instrument administration fee instead, for example $6 per lot per night on EURUSD, $15 per lot per night on USDJPY, $50 per lot per night on XAUUSD and $60 per lot per night on BTCUSD, with most FX majors carrying a five-night grace period before the fee starts from the sixth night and most other instruments carrying no grace period at all. FP Markets’ own terms on that page also reserve the right to change these administration charges, with the only notice promised being a posting on the the firm website rather than a direct message to the account holder. This is a religiously-compliant fee substitute, not a promotional rate, and it can be a real ongoing cost rather than a saving depending on the instrument and holding period.

Reading a Wealth Test or fee waiver as a special offer

None of the account tiers, fee waivers or Islamic account terms we read carries the conditions a promotions page usually has to disclose, such as a minimum qualifying deposit, a trading-volume target, a claim window or a clawback clause. Anyone comparing FP Markets against a broker that runs a published bonus scheme should treat the Pro Account eligibility test and the standard method-based fee waivers described above as the full extent of what we can confirm from the pages we fetched, rather than assuming a promotions page exists elsewhere on the site that we did not read.

Opening an Account

Which door someone walks through when they open an account with the firm depends entirely on which country-branded version of the site they land on first, because the brand is run by six separately incorporated companies, each carrying its own regulator, its own restricted-country list and its own contact details. Before writing this, we searched sixteen public registers across the Seychelles, Cyprus, Australia, South Africa and Saint Lucia to work out which entity actually signs the client agreement in each case.

Which entity actually signs you up

A visitor to the Seychelles-branded pages contracts with First Prudential Markets Limited, licence SD130. The Seychelles Financial Services Authority lists First Prudential Markets Limited as a regulated securities dealer, though the register itself does not publish licence numbers, so “SD130” remains the firm’s own figure rather than one we could read off the register. The same entity’s company registration, 8426368-1, is confirmed on the Seychelles Business and Company Search under registration C8426368.

A visitor routed to the Cyprus-branded pages (fpmarkets.eu) instead contracts with First Prudential Markets Ltd, CySEC licence 371/18, which we confirmed on the Cyprus Securities and Exchange Commission’s register of Cypriot Investment Firms, with no adverse annotation on the entry. That same company is registered in Cyprus as HE 372179, confirmed via the Cyprus Registrar of Companies as an active limited company since 27/07/2017. A separate entity named in the site’s footer disclaimers, Tominus Ltd, gives a Cyprus registration of HE 480296; the mirror we checked has no page for that number, so it is unconfirmed rather than absent.

Australian applicants sign with First Prudential Markets Pty Ltd, AFS licence 286354, confirmed on the ASIC register as held by that company (ABN 16112600281) since 31 May 2005; the ABN itself is separately confirmed on the ASIC Company Dataset as a registered Australian proprietary company. South African applicants sign with FP Markets (Pty) Ltd, FSP 50926, confirmed by the Financial Sector Conduct Authority as authorised. A Kenyan applicant deals with FP Markets Limited under a Capital Markets Authority non-dealing online forex broker licence; the firm’s own site names the licence type but not a number, so we could not check one against the CMA’s listing beyond confirming the firm appears on it.

Anyone signing up through the site branded “FP Markets UK” is not dealing with a UK-regulated firm at all: the operator is FP Markets Ltd, registered in Saint Lucia. We found “FP Markets Ltd. (IBC)” on the Saint Lucia Registry of International Business Companies name search, though that free search does not publish a registration number, incorporation date or status, so the firm’s quoted number 2025-00853 was not something we could verify. The site’s own popup for visitors to the main fpmarkets.com domain states it “is operated by FP Markets Ltd, an entity that is not established in UK nor regulated by an UK nor EU National Competent Authority,” and requires the visitor to confirm the decision to proceed was made independently, with no solicitation from FP Markets.

Depositing and verifying

An earlier review of the firm’s account pages put the minimum opening deposit at $100 for both the Standard and Raw accounts, funded by card, bank wire or e-wallet. Against that, the firm’s own regulation page states a live account carries “no minimum deposit required,” so the two figures we hold do not agree with each other and we report both rather than picking one. A demo account, per that same earlier review, needs no deposit at all and runs on virtual funds.

Two account types carry their own verification step beyond the standard sign-up. Converting to an Islamic, swap-free account requires “additional documentation,” and the firm’s own account page states that if a client’s religion is not shown on their official ID, a Proof of Faith document may be requested; conversion requests go through onboarding.team@fpmarkets.com. Upgrading to the the firm Pro Account costs nothing extra but requires passing either a Wealth Test or an Experienced Trader Test, handled through pro.team@fpmarkets.com. The firm’s own page on that account type spells out what passing the test costs a client in protections: no entitlement to retail protections under the Corporations Act 2001, no access to ASIC’s Product Intervention order protections, possible exclusion from AFCA dispute resolution, no requirement for FP Markets to issue a PDS or FSG, and wholesale-client money may be used by the firm for hedging in a way retail client money is not.

Who the firm won’t take on

The restricted-country list also changes by entity. Pages branded for First Prudential Markets Limited (Seychelles) list Afghanistan, Cuba, Iraq, Iran, Liberia, Libya, Myanmar, Palestine, Russia, Somalia, Syria, Sudan, Yemen, the United Kingdom, the United States, the European Economic Area, and jurisdictions on FATF, EU or UN sanctions lists as excluded. The Saint Lucia entity’s pages carry the same list minus the United Kingdom, which is not named as excluded there. The Australian entity, First Prudential Markets Pty Ltd, separately excludes applications from residents of the United States, the EEA, Japan or New Zealand, or any jurisdiction where offering the service would be unlawful. Retail clients onboarded through that Australian entity also get a capped 1:30 leverage on major forex under ASIC rules, against the up to 1:500 advertised on the UK, Seychelles and UAE-branded pages, unless they qualify as a Wholesale Investor, Sophisticated Client or approved Pro Account holder.

This review scores FP Markets 7.9 out of 10 overall, up from the 6.8 we gave it previously; that is our assessment moving, not a claim the firm’s own setup changed. Regulation is the lowest of the six criteria behind that figure, at 6.8, and the account-opening picture above is a fair part of why: five differently regulated entities share one brand, at least one named company (Tominus Ltd) could not be matched to its stated Cyprus registration number, and the Kenyan and Seychelles licence numbers rest on the firm’s own word rather than a number the register itself publishes. Set against that, we searched 1,441 warning-list entries mirrored from CySEC, the FCA and the FSC Mauritius, and FP Markets does not appear on any of them.

Deposits & Withdrawals

FP Markets funds accounts through cards, bank wire and e-wallets, and the earlier review of this broker that we are updating here described those rails as: bank wire, taking one to three business days; and Skrill and Neteller, with no FP Markets fee attached. Australian clients get two extra local rails, POLi/PayID for instant, fee-free transfers and BPAY on a one to two business day cycle. The firm’s own fee page, which we did read directly, confirms the e-wallet side of that picture for Skrill and Neteller: no deposit fee on either, deposits landing within about an hour, and withdrawals processed in one business day. The same page describes bank wire only as covering a wide range of local and international bank wire solutions for swift transfers, without stating a processing window itself, and lists crypto as a funding route pitched at avoiding intermediary banking fees.

What FP Markets charges to withdraw

On the deposit side, the earlier review reported no FP Markets fee on any listed method, and the firm’s own fee page corroborates this for Skrill and Neteller specifically. On withdrawals, the earlier review reported a flat $20 fee on bank-wire withdrawals below $50, with nothing charged above that threshold. Whatever bank fees a card issuer or wallet provider bills on its own side sit outside FP Markets’ control and were not itemised anywhere we looked.

Trading itself carries commission on the Raw account rather than a deposit or withdrawal charge: US$3 per side per lot for the UK, Indonesia and UAE entities, and AU$3.50 per side for the Australian entity, per the account pages for each region. The Standard account carries no commission at all. Clients who convert to a swap-free Islamic account are charged a nightly administration fee instead of swap, and the account page sets out concrete examples: $6 per lot per night on EURUSD, $15 on USDJPY, $50 on XAUUSD and $60 on BTCUSD, with most FX majors carrying a five-night grace period before the charge starts on the sixth night and most other instruments carrying no grace period at all. The same page states FP Markets can revise those administration charges, with notice given only by posting to the FP Markets website rather than messaging the client directly.

The rule that ties a withdrawal to how you deposited

The earlier review also described a funding-and-return rule worth restating plainly: a trader can only withdraw funds through the same method used to deposit, and only up to the amount originally deposited that way. Profit beyond the original deposit can then move out through a different channel. Read together with the $20 sub-$50 bank-wire fee the same earlier review reported, a client who funded by wire and wants their principal back in a small tranche can lose a meaningful share of it to that flat fee before any profit is even in play.

Where the money sits before it moves

FP Markets’ regulation page, which we read directly, states that retail client funds are kept separate from the firm’s own capital, held with what the page calls leading banks, and that client money is never used to meet company expenses under any circumstance. That segregation promise narrows, though, for anyone who upgrades to the FP Markets Pro Account: the account page we read states that money qualifying as wholesale under the firm’s Wealth Test can be used for hedging or other purposes in a way retail client money cannot, alongside giving up Corporations Act retail protections, ASIC product-intervention cover and AFCA dispute-resolution access. A trader chasing the higher leverage that comes with Pro status is also trading away the segregation guarantee that applies to a standard retail account.

Our previous review of FP Markets scored it 6.8 out of 10 overall; this rewrite scores it 7.9, with fees landing at 9 out of 10. That fees mark rests on what is laid out above: no FP Markets deposit fee on any method we found described, a withdrawal fee that is both named and bounded (capped at $20 and only below a $50 bank-wire withdrawal), and per-lot commission on the Raw account that is quoted in dollars rather than buried in a spread. The move is our reassessment against this evidence, not a change in what FP Markets itself charges.

Customer Support

FP Markets is not one company with one support desk. The brand is operated by at least six separately registered entities, each surfaced depending on which geo-branded version of the site a visitor lands on, and each carries its own phone number, email address and restricted-country list. A trader dealing with the Seychelles-branded pages, the Australian pages or the Saint Lucia-branded “FP Markets UK” pages is, in practice, contacting a different company each time, even though the interface looks the same.

Contact channels by entity

The Saint Lucia entity, FP Markets Ltd, which operates the UK/International version of the site, lists an office at Ground Floor, Rodney Court Building, Rodney Bay, Gros Islet, Saint Lucia, a toll-free phone number (+17584579557), the email support.team@fpmarkets.com, and a live chat option, according to its contact page. The same contact page gives office hours as Sunday to Friday (GMT) 22:00 to 22:00.

The Australian entity, First Prudential Markets Pty Ltd, publishes a separate set of details on its own contact page: an office at Level 5, Exchange House, 10 Bridge St, Sydney NSW 2000, a local phone number (02 8252 6800), a toll-free number (1300 376 233), and the email support@fpmarkets.com.

Visitors to the Seychelles-branded pages are given yet another phone number, +441241340196, and the address supportsc@fpmarkets.com, while the Cyprus-branded pages carry a Cyprus phone number, +357 25 263208. Which number or inbox reaches an actual case handler depends on which entity a client signed up with.

Specialised inboxes and escalation routes

Beyond the general channels, FP Markets’ account-type pages point to task-specific email addresses. Clients converting to a swap-free Islamic account are directed to onboarding.team@fpmarkets.com, and the account-types page notes that where a client’s religion isn’t stated on their official ID, the firm may ask for a Proof of Faith document before approving the conversion. Applicants for the FP Markets Pro Account, which carries higher leverage, are directed to pro.team@fpmarkets.com, and the same page references live chat as a further escalation route alongside email and phone for that application process.

What FP Markets’ own terms say about redress

Several clauses we read in the firm’s published terms bear directly on what a client can expect if something goes wrong rather than just how to say hello. The terms and conditions we read for the Seychelles entity state that First Prudential Markets Limited “may terminate this agreement and your access to the website at any time without notice,” and separately that “information and opinions may change without notice” and the firm “is not obliged to update you of any amendments made to the information contained in this website.” The same terms carry a broad limitation of liability, stating that to the extent permitted by law, First Prudential Markets Limited will not be liable in any way for any loss or damage, including without limitation to, direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with this website…even if [it] or its representatives are advised of the possibility of such damages.

For Australian clients, upgrading to the FP Markets Pro Account in exchange for higher leverage has consequences for dispute handling specifically: the account-types page states that a Pro Account holder has no entitlement to retail protections under the Corporations Act 2001, no access to ASIC’s Product Intervention order protections, and is warned of possible exclusion from AFCA external dispute resolution. A retail client who upgrades for the leverage therefore also gives up the independent complaints body that would otherwise sit above the firm’s own support desk.

Visitors landing on the main fpmarkets.com domain, which is run by the Saint Lucia entity and marketed as “FP Markets UK,” are shown a disclaimer that the site “is operated by FP Markets Ltd, an entity that is not established in UK nor regulated by an UK nor EU National Competent Authority,” and are asked to confirm they acted on their own initiative with no solicitation from FP Markets before proceeding. A client who later wanted to argue they were sold the product, rather than having sought it out themselves, would be doing so against a form of words they already agreed to on the way in.

Our search of 1441 warning-list entries mirrored from CySEC, the FCA and the FSC Mauritius did not return a match for FP Markets, which is a relevant data point for anyone judging the firm’s support and conduct record on top of the channels above, though it covers only the regulators we mirror rather than every authority a client might complain to.

Prohibited Countries

FP Markets is not one company. The brand is run by six separately registered entities, First Prudential Markets Limited in Seychelles, First Prudential Markets Pty Ltd in Australia, First Prudential Markets Ltd in Cyprus, FP Markets Ltd in Saint Lucia, FP Markets (Pty) Ltd in South Africa, and Tominus Ltd in Cyprus, and each geo-branded page we fetched carries its own list of countries it will not serve. Which list applies to a given applicant depends on which country-branded version of the site they registered through, not on the FP Markets name alone.

First Prudential Markets Limited’s Seychelles-branded list

The Indonesian home page, published under First Prudential Markets Limited (Seychelles, the entity the Seychelles FSA register confirms as licence SD130), states that the service is not offered to residents of Afghanistan, Cuba, Iraq, the Islamic Republic of Iran, Liberia, Libya, Myanmar, Palestine, the Russian Federation, Somalia, the Syrian Arab Republic, Sudan, Yemen, the United Kingdom, the United States, the European Economic Area, and any jurisdiction on the FATF, EU or UN sanctions lists. The same page adds, separately from that list, that the site “is not intended for residents of the European Union and operates outside the scope of the European Union and MiFID II regulatory frameworks.”

FP Markets Ltd’s Saint Lucia site and the UK gap

The UK home page and the firm’s UK platforms pages, published under FP Markets Ltd (the Saint Lucia entity, company registration 2025-00853), carry almost the same excluded list as the Seychelles pages, Afghanistan, Cuba, Iraq, Iran, Liberia, Libya, Myanmar, Palestine, Russia, Somalia, Syria, Sudan, Yemen, the United States, the EEA and FATF/EU/UN sanctions jurisdictions, but this version of the list does not name the United Kingdom, even though the same page is the one titled “FP Markets UK.” Visitors to the main fpmarkets.com domain are shown a popup stating the site “is operated by FP Markets Ltd. an entity that is not established in UK nor regulated by an UK nor EU National Competent Authority,” and are asked to confirm before proceeding “that the decision was made independently at your own exclusive initiative and that no solicitation or recommendation has been made by FP Markets.” A UK visitor is not turned away by this page; they are asked to self-certify that FP Markets did not solicit them, while dealing with an entity the disclaimer itself places outside UK and EU oversight.

First Prudential Markets Pty Ltd’s Australian list

The Australian home page, published under the ASIC-licensed entity (AFS licence 286354, confirmed on the ASIC register as held by First Prudential Markets Pty Ltd), states that applications are not accepted from residents of the United States, the European Economic Area, Japan or New Zealand, or from any jurisdiction where distribution or use of the site would be unlawful.

The Cyprus-regulated entity’s site

A separate page (sourced from the firm’s Japanese home page) covering the CySEC-authorised entity, First Prudential Markets Ltd, which the page states owns and operates www.fpmarkets.eu and www.fpmarkets.com/eu, states that this site is “not directed at residents of the United States, Canada and Belgium or any particular country outside the EEA.”

UK retail clients and crypto CFDs specifically

Separately from the country lists above, the same the firm’s Japanese home page notes that UK retail clients are not permitted to trade any product referencing crypto assets, including CFDs, citing FCA Policy Statement PS20/10, effective 6 January 2021. This is a product restriction on a client category, not a country exclusion, and it sits alongside the fact that the UK-branded site itself is run by the Saint Lucia entity rather than by any UK-authorised one.

None of the pages we fetched set out a single consolidated prohibited-countries list for the FP Markets brand as a whole. What we hold is four different lists, tied to four different legal entities, and a reader applying through one geo-branded page should not assume the exclusions on a different one apply to them.

Conclusion

FP Markets moves from 6.8/10 in our last review to 7.9/10 here. That is a change in our assessment, not a claim that the broker got better or worse: this pass checked the underlying entities against 16 public registers directly and ran the warning-list search fresh, and the score reflects what that work actually turned up rather than a re-statement of the old number.

The regulation score, and why First Prudential Markets pulls it down

Regulation lands at 6.8, the lowest of the five criteria, and the register work explains why. The Australian Securities and Investments Commission confirms AFS Licence 286354 for First Prudential Markets Pty Ltd. The Cyprus Securities and Exchange Commission confirms 371/18 for First Prudential Markets Ltd, listed in the current CIF register with no adverse annotation, unlike a neighbouring entry on the same page flagged as under examination. The Financial Sector Conduct Authority confirms FSP 50926 for FP Markets (Pty) Ltd, status Authorized. The Seychelles FSA lists First Prudential Markets Limited as a regulated securities dealer, though the register does not publish licence numbers, so the firm’s own “SD130” was not independently checked. Kenya’s Capital Markets Authority lists FP Markets as a licensee, but the pages we fetched quoted no licence number, so that entry was confirmed by listing only, not by number.

What holds the score down is the structure sitting underneath those confirmed licences. FP Markets is one brand run by at least six separately incorporated entities across Seychelles, Australia, Cyprus, Saint Lucia and South Africa, plus a further Cyprus entity, Tominus Ltd, named in the site’s footer disclaimers. Which entity a visitor actually contracts with, and therefore which regulator stands behind the account, depends on which country-branded page they registered through. The UK-branded page in particular is run by FP Markets Ltd, a Saint Lucia company; the site’s own popup discloses that this entity “is not established in UK nor regulated by an UK nor EU National Competent Authority” and asks the visitor to confirm they acted on their own initiative before proceeding. Separately, a CySEC claim on that same UK-branded page carried neither a licence number nor a named entity, so there was nothing on it for us to check against a register, and Tominus Ltd’s Cyprus company number, HE 480296, had no entry in the mirror we searched. Both are gaps in what was published or in what we could check, not findings that either registration is absent.

Fees and platform choice at FP Markets

Fees scores 9. The Raw account carries a commission of US$3 per side per lot on the UK, Indonesia and UAE pages and AU$3.50 per side on the Australian page, both figures taken from the firm’s own account pages. The fee page for Skrill and Neteller confirms no deposit fee on those methods and a one-business-day withdrawal turnaround. Islamic accounts pay an administration fee in place of swap, scaled by instrument on the firm’s own accounts page, for example $6 per lot per night on EURUSD against $50 per lot per night on XAUUSD, with most FX majors carrying a five-night grace period before it applies; the same page reserves FP Markets the right to raise those charges with notice posted only to its own website, not sent to the client directly.

Platform scores highest, at 9.2. The firm’s pages list MetaTrader 4, MetaTrader 5, cTrader and TradingView across most regions, plus WebTrader and a separate branded mobile app, with MAM/PAMM listed for money managers and Iress and Mottai available as additional platforms on the Australian site. That breadth is not uniform: the JP/ZA-branded homepage lists only MT4, MT5, cTrader and WebTrader, without TradingView, so platform access should be confirmed against the specific entity a client signs up with rather than assumed from the global marketing pages.

Support and the clean warning-list search

Support scores 7. FP Markets publishes phone, email and live chat across its regional pages, with the UK contact page giving office hours of Sunday to Friday, 22:00 to 22:00 GMT, alongside separate Australian and Seychelles phone lines and dedicated inboxes for onboarding and Pro Account applications.

Reviews scores 8.3, and the strongest single input to that figure is the warning-list search: we checked 1,441 entries mirrored from CySEC, the FCA and the FSC Mauritius, run against a positive control so an empty result means absence rather than a broken search, and FP Markets matched none of them. That is a clean result across the lists we mirror, not a clearance from every regulator worldwide.

FP Markets holds confirmed licences with ASIC, CySEC, the Seychelles FSA and the FSCA, runs on MetaTrader 4, MetaTrader 5, cTrader and TradingView, and cleared a 1,441-entry warning-list search with no matches, scoring 7.9 out of 10 overall.

FAQ