FP Markets Broker Review

Regulatory Overview: FP Markets has been operating since 2005 and is licensed by several international regulatory bodies known for maintaining high standards, including:

• Australian Securities and Investments Commission (ASIC) – First Prudential Markets Pty Ltd (AFSL No. 286354)
• Cyprus Securities and Exchange Commission (CySEC) – First Prudential Markets Ltd (License No. 371/18)
• Financial Sector Conduct Authority (FSCA) of South Africa – FP Markets (Pty) Ltd (FSP No. 50926)
• Capital Markets Authority (CMA) of Kenya – FP Markets Ltd (License No. 103)
• Financial Services Authority (FSA) of Seychelles – First Prudential Markets Ltd (License No. SD130)
• Financial Services Commission (FSC) of Mauritius – FP Markets Ltd (License No. GB21026264)
• Financial Services Authority (FSA) of St. Vincent and the Grenadines – FP Markets LLC (Registration No. 126 LLC 2019)

ASIC, CySEC, FSCA, and CMA require brokers to maintain segregated client accounts, minimum capital levels, and undergo regular financial audits. Offshore regulators such as those in Seychelles, Mauritius, and St. Vincent apply fewer restrictions and provide limited oversight.

Regulation for Filipino Traders: FP Markets is not licensed by the Securities and Exchange Commission (SEC) of the Philippines and does not operate under local regulatory oversight. Filipino clients are onboarded through FP Markets LLC, registered in St. Vincent and the Grenadines. The FSA in St Vincent registers companies but does not actively regulate or supervise forex trading, so Filipino traders are not protected by local financial laws or a formal complaints process.

Safety Features: Despite the lack of local licensing, FP Markets enforces strong internal policies. All client funds are kept in segregated accounts with leading banks, separate from company assets. Negative balance protection is also in place to prevent excessive losses. These features mirror the protections enforced in more strictly regulated jurisdictions like Australia and Cyprus, providing some reassurance to Filipino traders.

Stock CFD Trading: FP Markets does not offer IRESS to clients in the Philippines. As a result, stock CFD access is limited to what’s available on MT4, MT5, cTrader, and TradingView. MT5 and cTrader users can expect around 1,000 stock CFDs, while MT4 users may only see 8 available. For traders seeking broad equity exposure, these limits may be a dealbreaker.

Forex and Cryptocurrencies: Filipino traders can access over 60 Forex pairs, covering major and minor currencies. Cryptocurrency trading includes 12 digital assets, such as Bitcoin and Ethereum. While this provides basic exposure, the selection may not satisfy traders focused on crypto markets.

All Filipino traders are eligible to open an account at FP Markets as long as they meet the minimum deposit requirement of 100 AUD. Creating an account is straightforward; the process is fully digital, and accounts are usually ready within one day. Filipino residents are onboarded through FP Markets LLC in St. Vincent and the Grenadines.

Filipino traders at FP Markets can choose between two live account types: the Standard Account and the Raw Account. Each requires a minimum deposit of USD 100 (or about 3700 PHP). Trading costs are low, and TradingView is only available on the Raw Account. Both accounts support MT4, MT5, and cTrader.

Standard Account: This is a commission-free option with spreads starting at approximately 1.0 pip. Higher trading volumes may lead to tighter spreads. The account supports MT4, MT5, and cTrader, with access to over 60 Forex pairs, plus metals, indices, and commodities. It’s suitable for newer traders or those looking for simplicity.

Raw Account: With spreads starting from 0.0 pips and a USD 6 round turn commission per lot, this account is built for cost-conscious traders. It supports all major platforms, including TradingView, and is better suited to scalpers and day traders.

Islamic Swap-Free Accounts: Available across all platforms. These accounts eliminate overnight interest and instead apply a USD 5 per lot per night admin fee on major pairs, waived for the first 10 nights. To enable this feature, traders must request activation and submit proof of Islamic faith if necessary.

Demo Account: Comes with USD 100,000 in virtual funds and supports all platforms. Demo accounts remain active unless left unused for over 30 days.

FP Markets has its own mobile trading app on iOS and Android, and we liked its layout and ease of use. FP Markets also supports the MT4, MT5, Trading View, and cTrader mobile apps.

FP Markets Mobile App

We found that the FP Markets Trading App connected to our MT4 account easily, and its clean interface made it very simple to use. It ran smoothly, even on older Android phones, and beginner traders will like the simplified layout compared to the MT4 and MT5 apps.

Key Features:

• Deposit and withdraw funds.
• Make, monitor, and review trades.
• Use the ‘Favourites’ menu to create a faster and seamless trading experience.
• Change settings via the Client Portal
• Access real-time pricing
• Conduct research and analysis using a range of trading tools
• Log in to their MetaTrader 4 account using the same credentials

MT4 and MT5 Mobile Trading

FP Markets offers support for MT4 and MT5 mobile trading apps for Android and iOS. Traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced time frames and fewer charting options, but traders can close and modify existing orders, calculate profit and loss, and trade on the charts.  

cTrader App

cTrader is one of our favourite trading platforms, and we are glad that FP Markets has added it to its offering. FP Markets is one of a handful of brokers that supports it. Its clean design makes it easy for beginners to pick up, but it also has the advanced order types and automation options required by more experienced traders. The FP Markets’ cTrader app keeps most of the best parts of the desktop version, including the complete range of order types, price alerts, trade analysis, and symbol watchlists.

TradingView

TradingView is not only a trading platform with detailed information to help you make trading decisions: it also includes one of the biggest social trading communities, with plenty of EAs (Expert Advisors) that beginner traders, or those too busy to trade manually, will appreciate. This addition to FP Markets’ tech portfolio and we believe traders of all backgrounds will enjoy TradingView access

There’s a lot you can achieve with TradingView, but these are just a few of its advantages:

• Unmatched charting capabilities, suitable for beginners and advanced traders
• Large social trading community of more than 50 million users
• The ability to design your own indicators and strategies using TradingView’s Pine Script
  programming language
• The option to validate trading ideas using TradingView’s bar-by-bar replay function
• Wide selection of fundamental data
• Real-time global news coverage

On the whole, the toolbox is sophisticated yet simple to use and allows traders to analyse the fast-moving global financial markets with accuracy.

Trading Platforms Comparison:

With MT4, MT5, cTrader and TradingView all available, FP Markets offers support for more trading platforms than most brokers.

FP Markets used to only offer traders MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, each of which offers Expert Advisors, automated trading support, strategy backtesting, customisable charting, indicators, and copy trading functionality.

All platform choices are free to use, all can be downloaded to your PC or Mac, and all have web versions of the platform. Traders who want more EAs to use, and don’t mind the dated interface, should consider using one of the MetaTrader products. cTrader is often a favourite for beginner traders as it requires less setup, has a more modern interface, and offers more advanced order types. 

TradingView: FP Markets partnered with TradingView in 2024. TradingView is a world-renowned charting provider that delivers the financial markets from one platform and has the largest social trading community in the world. Combining Trading View with FP Markets’ consistently tight spreads, rapid market execution, and institutional-grade liquidity, will help FP Markets clients maximise their trading potential. 

All four trading platforms offered are considered among the best in the industry. FP Markets does not have its own trading platform, but with the four major third-party platforms, most traders will be satisfied.

Trading Tools

FP Markets’ range of trading tools includes Autochartist, a free VPS service, MAM/PAMM accounts, Myfxbook Autotrade, and a Traders Toolbox consisting of 12 online trading tools.  Most of the tools are free of charge, except for the VPS and Traders Toolbox, which require traders to deposit a minimum of 1,000 AUD (or currency equivalent).

Autochartist

Free for all FP Markets clients, Autochartist is one of the best technical analysis tools on the markets. It is an automated technical analysis tool that plugs into MT4 and MT5 and scans all available CFD markets for trading opportunities. Autochartist’s advanced pattern recognition engine identifies the strongest potential trading opportunities and predicts future price movements.

VPS

FP Markets offers a free VPS service to traders who deposit a minimum of 1000 USD or currency equivalent.  The service is also subsidised for high-volume traders who trade over 10 lots a month on the Standard Account, or 20 lots on the Raw Account.  VPS services ensure trades are never disrupted by technological or connectivity issues. Other benefits of the VPS service include:

• 24/6 VPS email support
• 24/7 Redundant power to your VPS
• 24/7 Redundant internet connectivity to your VPS
• Low latency connectivity to FP Markets trading servers for precision trading
• Uninterrupted EA trading

MAM/PAMM Accounts

FP Markets offers an account management service to its clients, which allows account managers to trade on their behalf.  In order to perform this service, bespoke technology or software is required, also known as MAM/PAMM. 

MAM stands for Multi-Account Manager, which permits a range of customisable ways to sub-allocate trades.  PAMM stands for Percentage Allocation Module Manager, which means investors can be part of a set of sub-accounts that are traded together by a money manager or trader who has permission from clients to trade on their accounts.  Account Managers take a portion of the profits generated by the trades.  

Copytrading

FP Markets offers an excellent copy trading service through a third-party provider, Myfxbook Autotrade.  It allows traders to find, follow and copy successful traders automatically. To use the service, traders need to open a Standard Account and make a minimum deposit of 1,000 USD. Traders are charged an additional 0.5 pips in service fees on top of the standard spreads, which is relatively high compared to other brokers.

Trading Tools Comparison

Broker

Economic Calendar

Autochartist

Trading Central

Trading View

Free VPS

VPS services are usually offered free with a minimum trade volume, otherwise a monthly subscription fee will apply. VPS services are usually hosted by third-party companies.

FP Markets

Yes

Yes

No

Yes

Yes

Exness

Yes

No

Yes

Yes

Yes

IC Markets

Yes

Yes

Yes

Yes

Yes

Due to Anti-Money Laundering policies, FP Markets does not accept payments from third parties and only accepts funds received directly from the named trading account holder. The first time you make a withdrawal, you must complete a downloadable form and return it with a photographic ID.

Local Payment Methods: Filipino traders will be pleased to find that FP Markets supports a variety of local deposit and withdrawal options. This includes methods such as Dragonpay, PayMaya, and GCash, which facilitate instant transactions in PHP. These options allow for faster and more cost-effective deposits and withdrawals, reducing reliance on international wire transfers and minimizing currency conversion fees and transaction delays.

Accepted Deposit Currencies: The FP Markets client portal allows traders to deposit funds in 10 currencies, including AUD, USD, EUR, GBP, SGD, CAD, CHF, HKD, JPY, and PHP. Filipino traders will be pleased that PHP is an option, allowing them to avoid conversion fees, which may affect profitability.

Withdrawal Fees: FP Markets does not charge any internal withdrawal fees. However, please be aware that payments to and from overseas banking institutions may incur intermediary transfer fees charged by banks, and other payment options may charge a commission. Any such fees will be the responsibility of the client.

See below for deposit and withdrawal methods, costs and processing times.

FP Markets’ education section is pretty good compared to most other large international brokers. However, some of it is reserved for registered clients only.  The content available is suited to both beginner and more experienced traders

FP Markets provides a range of educational materials, including ebooks, tutorials, video tutorials, webinars, and a glossary.  The educational material focuses on the wider CFD industry, including tutorials on trading stocks, indices, and commodities:

• eBooks: FP Markets offers a range of comprehensive ebooks that provide detailed information on the important aspects of forex, including money management, trading systems, and volatility.  Other topics include technical and fundamental analysis, along with tips on how to spot trading opportunities. 
• Video Tutorials: FP Markets provides a number of videos to introduce forex traders to the MetaTrader platforms.  These videos serve as a step-by-step guide for those who want to learn to trade on MT4, MT5, TradingView and cTrader.
• Glossary: The glossary provides comprehensive definitions and explanations of various financial terms.
• Webinars: FP Markets hosts regular webinars that are held by its team of in-house professional traders.  The webinars cater to traders of all experience levels and include topics such as Trading Psychology, Chart Psychology, Advanced Fibonacci Strategies, and How to Backtest a Trading Strategy.   
• Trading for beginners: We expect that beginners will feel comfortable starting their trading career with FP Markets. The demo account never expires, the education section is varied, and market analysis is available both in video and article formats. Customer service is available 24/7, and we were impressed by the quality of support we received.

Education Comparison

Broker

Beginner Course

Advanced Course

Well Structured Education

Education Quality

Webinars

FP Markets

Yes

No

Yes

High

Yes

Exness

Yes

Yes

Yes

Medium

Yes

IC Markets

Yes

Yes

Yes

High

Yes

The market research and analysis at FP Markets is comprehensive and in-depth, is available in both article and video format, and is published daily.

FP Markets’ analysis section covers both technical and fundamental analysis:

• Daily Report: FP publishes a daily market report covering all the financial markets and a weekly outlook (in video and text format). The daily market report is a brief look at the global markets, including commodities, indices, and Forex.
• Market Insights: FP Markets provides trading ideas for the most popular financial assets in various timeframes.
• Technical Report: A technical report is published weekly, covering the various market movements and how these affect the related financial assets. The report is in-depth and very detailed.
• Forex News: In this section, articles are published less frequently but cover all the major market events.
• Daily Analysis: Articles are published on a daily basis covering various global events and how they influence the markets.
• Currency Point: Articles are published on a weekly basis and cover the various currency movements.

Customer support is available 24/7 via live chat, email, and telephone. Weekend support is limited to 08:00 – 16:00. Available languages include Italian, English, Russian, French, Arabic, German, and Chinese.

We found the customer service responsive (our questions were answered immediately), polite, and very knowledgeable.