✓ Strengths
- Regulated by ASIC and CySEC — strong dual regulation
- True ECN/STP execution with direct market access
- Spreads from 0.0 pips on Raw accounts
- MT4, MT5, and IRESS platforms available
- Over 10,000 instruments (including shares via IRESS)
- Outstanding range of equity CFDs
- Active and responsive customer support
✗ Weaknesses
- IRESS platform requires $1,000 minimum deposit
- Raw account minimum is $100
- No proprietary mobile app (reliant on MT4/5 mobile)
- Limited educational resources for beginners
- Social/copy trading not available
About FP Markets
FP Markets (First Prudential Markets) is an Australian broker founded in 2005. With nearly two decades of operation and regulation from both ASIC and CySEC, FP Markets has quietly built a reputation as one of the best value ECN brokers in the industry — particularly for traders who want access to a massive range of instruments beyond just forex.
The broker's IRESS platform, which provides access to 10,000+ global shares, is a genuine differentiator.
| Founded | 2005 |
| Headquarters | Sydney, Australia |
| Regulation | ASIC (Australia), CySEC (Cyprus), FSCA (South Africa), FSA (St. Vincent) |
| Platforms | MT4, MT5, IRESS, TradingView |
| Min. Deposit | $100 (Standard/Raw); $1,000 (IRESS) |
| Spreads From | 0.0 pips (Raw account) |
| Commission | $3.00/lot per side (Raw account — one of the lowest in industry) |
| Max Leverage | Up to 1:500 (international) |
| Instruments | 70+ forex, indices, commodities, metals, crypto, 10,000+ shares (IRESS) |
| Demo Account | Yes |
What Makes FP Markets Stand Out
The headline differentiator is the commission rate on Raw accounts: $3.00 per lot per side. That translates to $6.00 per round trip — the lowest I've seen among quality ECN brokers. Combined with spreads averaging 0.1–0.2 pips on EUR/USD, the all-in trading cost is genuinely excellent.
The IRESS platform is the other major differentiator. It gives access to over 10,000 global share CFDs across ASX, NYSE, NASDAQ, LSE, and many other exchanges — something very few pure forex brokers offer. For traders who want genuine equity diversity alongside forex, this is a significant advantage.
Execution & Technology
FP Markets uses genuine ECN/STP routing — your orders go directly to the liquidity pool without a dealing desk. The broker has liquidity agreements with major banks and non-bank providers, ensuring competitive bid/ask spreads even in fast markets.
Execution speeds are consistently in the 30–60ms range on my tests. I did not experience requotes during my testing period.
Research & Education
FP Markets is honest about being more trading-infrastructure focused than education-focused. The website offers basic video tutorials and articles, but it doesn't match the depth of XM or eToro's educational ecosystems. For beginners who need significant hand-holding, this might be a drawback. For experienced traders, it's a non-issue.
Final Verdict
FP Markets consistently earns high ratings from independent reviewers, and my personal experience confirms why. The combination of ASIC regulation, true ECN execution, industry-leading commission rates ($3.00/lot), and access to 10,000+ instruments via IRESS makes it a compelling choice for both forex-focused traders and those who want broader market access. Highly recommended for intermediate to advanced traders.
My Rating: 4.4/5
⚠ Risk Disclaimer
Trading forex, CFDs, and other leveraged financial instruments involves a high level of risk and may not be suitable for all investors. You could lose some or all of your invested capital. Leverage can work against you as much as for you. Past performance is not indicative of future results. The information in this review is for educational and informational purposes only and does not constitute financial, investment, or trading advice. Always conduct your own research and consult a qualified financial advisor before making any investment decisions. This site may contain affiliate links — if you click them and open an account, we may receive a commission at no extra cost to you. This does not influence our editorial assessments.
