FP Markets Review: Regulation, Spreads and Platforms

Main Strengths and Drawbacks

This review is built from the terms FP Markets published for the first quarter of 2026. Costs are worked through on a 500 dollar balance and the quoted cost of 55 trades on major currency pairs, gold and indices, across the two live tiers, Standard and Raw ECN, on the MT5 and cTrader platforms. The support languages and the deposit and withdrawal terms are taken from the broker’s own disclosures.

Advantages

• First-tier regulation through the Australian ASIC and the Cypriot CySEC, which puts those entities under demanding capital and conduct rules
• A genuinely competitive raw spread starting at 0.0 pips on the Raw ECN account, with a commission of 3 dollars per lot per side
• A wide platform line-up covering MT4, MT5, cTrader, TradingView and IRESS, a range few brokers match
• More than 10,000 instruments available to trade through the IRESS platform, which puts the firm among the richest brokers for asset choice
• No withdrawal, deposit or inactivity fees
• Arabic-language technical support around the clock, every day of the week
• An operating record of more than 20 years since the firm was founded in 2005

Drawbacks

• A minimum deposit of 100 dollars, higher than at competitors such as Exness (10 dollars) and XM (5 dollars)
• The swap-free account has to be requested separately by email rather than activated automatically, and an administration fee applies after a 10 day grace period
• The IRESS platform, which opens up thousands of shares, carries a monthly subscription fee (55 Australian dollars) unless trading volume is high enough to waive it
• Traders in the Middle East are usually onboarded to the Seychelles entity (FSA) rather than the stricter Australian or European ones

Overall, FP Markets is a strong broker that combines demanding regulation, competitive trading costs and a varied platform line-up. It suits intermediate and advanced traders looking for a low spread and fast execution in particular. It may not be the best fit for a beginner who wants to start with very small amounts, or who needs a swap-free account granted automatically and without an administration fee.

Company Background

First Prudential Markets, trading as FP Markets, was founded in 2005 in Sydney, Australia, by Matt Murphie. The head office is at number 10 Bridge Street, fifth floor, Exchange House, Sydney, New South Wales. Over more than 20 years in the brokerage industry the firm has grown into one of the better-known Australian brokers, recognised for its direct market access (DMA) technology and institutional pricing.

On the corporate record as of February 2026, FP Markets is reasonably transparent about its own details. The company employs between 201 and 500 people according to LinkedIn, and serves clients in more than 80 countries. It has collected dozens of international awards, among them “best value broker globally” from Global Forex Awards for six consecutive years to 2024, “best broker in Europe” for three consecutive years, and “best trading conditions” from FxScouts in November 2024.

FP Markets operates through several legal entities around the world, including ones in Australia, Cyprus, South Africa, the Seychelles, Mauritius, Kenya and Saint Lucia. That geographic spread lets the firm serve clients in more than 80 countries while meeting the local regulatory requirements of each jurisdiction. In January 2024 it obtained a non-dealing forex broker licence from the Kenyan Capital Markets Authority (CMA), which reflects its continuing expansion into African and emerging markets. What sets FP Markets apart from many competitors is its focus on direct market access (Direct Market Access) technology, which passes genuine institutional pricing from liquidity providers through to the trader with no broker in between.

Is FP Markets a scam? The question comes up repeatedly in Arabic-language search. On the public record, no. The firm holds licences from two first-tier authorities (ASIC and CySEC), has an operating record of more than 20 years, and carries 4.9 out of 5 on Trustpilot from more than 10,000 reviews. None of that makes it free of drawbacks, or makes trading with it free of risk: roughly 73.85% of retail trading accounts lose money on contracts for difference. To check any brokerage independently, there is a guide to avoiding scam trading firms.

On Trustpilot, FP Markets holds an exceptional 4.9 out of 5 stars from more than 10,000 reviews by real customers. 94% of those reviews award 5 stars, while only 2% award one. The positive reviews return repeatedly to the quality of customer service, execution speed and low spreads. The small number of negative ones concern individual cases of account closure or disputes over trading terms. Overall the Trustpilot rating reflects high satisfaction across a broad customer base.

Why Traders Might Consider FP Markets

Several things set FP Markets apart from other brokerage firms. They do not make it the right broker for everyone, but they do make it a strong option for particular kinds of trader.

Strong Australian regulation: the Australian ASIC ranks among the most demanding authorities in the world, alongside the British FCA and the German BaFin. Holding an ASIC licence means the firm is bound by strict requirements on segregating client money, minimum capital and periodic reporting. That level of supervision puts far more obligations on the licensee than an offshore-only licence does. For the difference between regulatory tiers, there is a guide to licences in the trading industry.

Platform range: few brokers offer five different trading platforms. FP Markets provides MT4, MT5, cTrader, TradingView and IRESS, which lets each trader pick the one that fits how they work. On the published specifications, cTrader is the strongest of them for execution tooling and charting, while IRESS is the one that opens the door to thousands of real shares through direct market access.

Low trading costs: the Raw ECN account quotes a spread starting at 0.0 pips with a commission of 3 dollars per lot per side (6 dollars round turn). That total sits below most competitors, which charge 3.50 dollars per side (7 dollars round turn). On the broker’s published pricing for the Raw ECN account, the EURUSD spread runs between 0.0 and 0.3 pips in peak hours, matching the best the competition offers, including the IC Markets review.

An enormous instrument range: through the IRESS platform, more than 10,000 instruments are reachable, real shares on several international exchanges among them. On the MetaTrader and cTrader platforms the selection is smaller, around 800+ instruments, but still varied: more than 70 currency pairs, 780+ share CFD contracts, plus indices, commodities and cryptocurrencies.

An established reputation and multiple awards: FP Markets taking the “best value broker” award six years in a row is no accident. The firm concentrates on delivering real value through a low spread, fast execution and a varied instrument range, rather than leaning on overblown marketing.

Licences and Regulation

Every licence FP Markets holds appears on the public register of the authority that issued it, and each number below can be looked up there — as those registers stood in February 2026. The firm holds several licences from authorities of differing strictness. The point every trader in the region needs to grasp is that the entity holding the account decides which rulebook applies to it.

Is FP Markets genuinely licensed? Yes, and the record is open to anyone. The Australian ASIC register (connectonline.asic.gov.au) returns First Prudential Markets Pty Ltd against AFS Licence 286354. The CySEC licence numbered 371/18 can be checked the same way on the Cypriot securities authority’s own site (cysec.gov.cy). A detailed guide sets out how to verify a broker’s licence step by step.

What that means in practice for a trader in the Arab world: the account will most likely sit with the Seychelles entity (SD130) or the Saint Vincent one. Those authorities are less demanding than the Australian ASIC or the Cypriot CySEC on client-money requirements and on statutory arrangements. In fairness, the position is much the same at most international brokers serving the region through offshore entities. What helps here is that the parent company holds first-tier licences (ASIC and CySEC), which points to an institutional commitment to high regulatory standards even where the entity on the account answers to a lighter rulebook.

Set against a broker such as Pepperstone, which also holds ASIC and CySEC licences, the regulatory position at FP Markets is structurally similar. Both serve clients in the Arab region through offshore entities while the parent company answers to a strict regulator.

Opening an Account and Verification

The account-opening process is straightforward and runs entirely online. On the flow published in February 2026, the broker puts initial registration at about 5 minutes on the website: personal details — name, email address, telephone number and country of residence — then a short questionnaire on financial experience and circumstances, then a choice of account type and platform.

Identity verification (KYC) is the longest step. Two documents are required: valid photographic identity, a passport or a national identity card, and a recent proof of address such as a utility bill or bank statement no more than 6 months old. Both are uploaded through the website. No approval turnaround is published, and none is asserted here.

The point to note is that FP Markets does not allow trading before identity verification is complete, unlike brokers such as Exness, which permits small trades beforehand. That means a longer wait before trading starts, but it also reflects a firmer commitment to the anti-money-laundering and know-your-customer (KYC) requirements that first-tier regulators impose.

One point worth noting: the financial suitability questionnaire FP Markets asks for at registration is not a formality. On the answers given about trading experience, income and objectives, the firm may decline to open an account where it judges that contracts for difference do not suit the applicant’s financial position. That differs from offshore brokers which accept any applicant regardless of experience, and it reflects the adherence of FP Markets to the Australian and European standards that require a suitability assessment before complex financial products are offered.

Anyone new to trading who wants the basic steps for opening an account in general can turn to the guide to opening a trading account, which sets out the process step by step across different brokers.

The account-opening steps, in short:

• Visit the FP Markets website and choose “open a live account”
• Fill in the personal details and answer the financial suitability questionnaire
• Choose the account type (Standard or Raw ECN) and the platform (MT4/MT5/cTrader)
• Upload the verification documents (identity plus proof of address) and wait for approval
• Deposit and start trading once verification is complete

Account Types

FP Markets offers several account types covering different levels of experience and styles of trading. On the published terms, the main difference between them lies in the cost structure — spread alone, versus spread plus commission — and in the platform used. The Standard and Raw ECN accounts are the pair most often set against each other, on MT5 and cTrader.

On total cost, the Raw ECN account is the better option. A commission of 6 dollars round turn with a spread close to zero makes the all-in cost lower than the Standard account, which builds the cost into the spread instead. The 3 dollars per side is below the prevailing industry standard of 3.50 dollars per side at IC Markets, Pepperstone and Exness.

The IRESS accounts are built mainly for Australian traders who want to trade local shares through direct market access (DMA). They are not available in every region and call for considerably more capital. The IRESS platform also carries a monthly subscription fee (55 Australian dollars) unless monthly commission volume reaches at least 200 Australian dollars, or the account keeps a balance of 50,000 Australian dollars. Share dealing through IRESS costs 0.02 dollars per share with a minimum of 15 dollars per trade, which is reasonable in size but can be expensive on small orders.

The demo account: FP Markets provides a free demo account on all of the available platforms (MT4, MT5, cTrader) with a virtual balance that can be set to any level. On the broker’s own description the trading conditions on it, spread and execution alike, track the live account closely, which makes it a useful way to try the platform and a strategy before real money is at risk. Two weeks of demo trading before moving to a live account is sensible for any beginner.

The Islamic account: the swap-free account is available on the Standard and Raw ECN accounts through MT4 and MT5. Unlike brokers such as Exness, which grants swap-free terms automatically, FP Markets requires a conversion request by email after the account is open, followed by a confirmation. On its published terms FP Markets allows a grace period of 10 days with no administration fee on open positions. After that, an administration fee starting at 5 dollars per lot per night applies on the major pairs. That is higher than at some competitors, Exness among them, which charges no administration fee, but it sits within the industry average.

Fees and Trading Costs

Trading costs are the factor that bears most directly on a trader’s long-term profitability. The figures below are the spreads published at different points in the day — the London session, the New York session and the Asian session — set against three main competitors: IC Markets, Pepperstone and Exness.

Spreads

Compared at different points of the day in February 2026, the FP Markets spread on the Raw ECN account is competitive and close to the best in the market. The average EURUSD spread on the Raw ECN account is quoted at around 0.1 pips, which matches IC Markets and Pepperstone. On the standard account the spread is naturally higher, since it carries the cost of the commission inside it.

The published pricing widens noticeably while the main markets are closed, between midnight and 5 am Riyadh time, and around significant economic data releases. That behaviour is normal and common to every ECN broker.

The table below sets out the approximate average spread on the standard account, with no commission, for the most widely traded instruments against three competitors. The figures are approximate and come from pricing published during the first quarter of 2026 together with independent published sources.

As the table shows, the FP Markets spread on the standard account sits in the upper middle of the range: below Exness on some instruments such as GBPUSD, close to Pepperstone, but above IC Markets, which quotes the lowest standard-account spread. The real advantage at FP Markets shows up on the Raw ECN account, where the commission is only 6 dollars round turn against 7 dollars at most competitors.

Commissions

The Standard account charges no commission; the cost is built entirely into the spread. The Raw ECN account charges 3 dollars per standard lot per side (6 dollars round turn). That is below IC Markets, Pepperstone and Exness, which charge 3.50 dollars per side (7 dollars round turn). On share CFD trading the commission is 0.02 dollars per share with a minimum of 15 dollars per trade.

Overnight Financing (Swaps)

Swap charges apply to positions still open after the daily market close. They vary with the instrument, the direction of the position and prevailing interest rates. On Wednesdays the swap is charged three times over, to cover the weekend. FP Markets displays its swap rates plainly inside MT4, MT5 and cTrader, with nothing hidden.

On Islamic accounts, as noted above, no swap is charged, but an administration fee applies after a grace period of 10 days. The arrangement is common among brokers, though less attractive than at brokers offering swap-free terms with no administration fee at all.

Deposit and Withdrawal Fees

FP Markets charges nothing of its own on deposits or withdrawals. A payment provider, a bank or an e-wallet, may levy a charge of its own. On the published schedule a card deposit is instant and free from the broker’s side.

Inactivity Fees

One clear advantage at FP Markets is that it charges no inactivity fee at all. The firm does archive dormant accounts after 30 days without trading, but reactivation is simply a matter of signing in again.

Overall Assessment of Costs

Overall the FP Markets fee structure is transparent and competitive, on the Raw ECN account in particular. A commission of 6 dollars round turn is among the lowest rates in the industry. The absence of inactivity, withdrawal and deposit fees adds a clear advantage. The only negatives are the administration fee on the Islamic account after the grace period, and the monthly IRESS platform fee.

Desktop Trading Platforms

FP Markets stands out for offering more platform choices than most brokers do. That range means each trader can pick the one that fits their style and level of experience.

MetaTrader 4 (MT4): the most popular platform in forex. It supports automated trading through expert advisors (Expert Advisors) and carries a wide set of technical indicators, on an interface familiar to most traders. The number of instruments reachable through MT4 is smaller than on MT5.

MetaTrader 5 (MT5): the newer generation of MetaTrader, with extra features including more timeframes (21 against 9 on MT4), depth of market (DOM), a built-in economic calendar and support for additional order types. Every FP Markets instrument available through MetaTrader can be traded on MT5, more than 800 instruments in total.

cTrader: on the published specifications this is the strongest of the set. The cTrader interface is more modern and smoother than MetaTrader, with advanced charting, strong technical analysis tools and cAlgo for automated trading in C#. Depth of market (Level II Pricing) is available directly on cTrader, and the platform also supports social trading (Copy Trading). For anyone looking for a more advanced alternative to MetaTrader, cTrader is worth a look.

TradingView: FP Markets recently added support for TradingView, known for professional charting tools and a large community of millions of analysts and traders. A FP Markets account can be linked directly to TradingView and traded from the charts without leaving the platform. That is a welcome addition for traders who already use TradingView for their technical analysis and want to place orders straight from the chart. TradingView carries more than 100 built-in technical indicators, custom indicators written in Pine Script, and advanced price alerts.

IRESS: a platform specialised in trading real shares through direct market access (DMA). It reaches more than 10,000 shares across several international exchanges, but it is aimed mainly at Australian and professional traders, because of the monthly subscription fee and the higher minimum deposit.

A detailed guide covers the strengths and weaknesses of each trading platform and compares them side by side.

Mobile Trading Apps

FP Markets offers an app of its own alongside the official MetaTrader and cTrader apps. The description below refers to the FP Markets app as published in February 2026.

The FP Markets Forex & CFD Trading app is available on both Google Play and App Store. The interface is clean and modern, laid out so that moving between sections is straightforward. The app allows positions to be opened and closed quickly, charts to be followed, and the account to be managed, deposits and withdrawals included, from the phone.

The app supports Arabic and sends instant notifications for trades along with price alerts. Some of the more advanced technical analysis tools available on the desktop platform are absent from it, which is normal across trading apps. Order execution speed on the app is not measured here.

Alongside its own app, FP Markets cTrader and FP Markets Social Trading are available too, which gives several options depending on preferred trading style. The official MT4 and MT5 apps from MetaQuotes can also be used to trade a FP Markets account.

Anyone interested in trading from a phone who wants to compare the apps of different brokers can turn to the guide to the leading trading apps.

Tradable Instruments

FP Markets offers one of the widest instrument ranges in the brokerage industry: more than 10,000 instruments in total through the IRESS platform. On MetaTrader and cTrader the selection is smaller but still varied and comprehensive. The detail below is taken from the instrument lists the broker publishes for MT5 and cTrader.

The breadth of the equity range is a clear strength for FP Markets against most forex brokers. Offering 780+ share CFD contracts on MetaTrader and cTrader, and more than 10,000 shares through IRESS, makes it a strong option for anyone wanting to combine forex and international equity trading in a single account. The shares on offer span American exchanges (NYSE and NASDAQ), European ones (LSE and Xetra) and Asian ones (ASX and HKEX), which allows wide geographic diversification in a portfolio.

The number of currency pairs (70+ pairs) is smaller than at some competitors such as Exness (100+ pairs), but it covers every major, minor and exotic pair most traders need. The cryptocurrency selection (12 currencies) is limited next to specialist brokers, though it does include the most heavily traded coins.

Gold (XAUUSD) is among the most widely traded instruments on the platform, and the spread quoted on it is competitive, on the Raw ECN account in particular. For anyone interested in precious metals, there is a guide to trading gold covering the basics of that market.

Order Execution

FP Markets states that its average execution speed is under 40 milliseconds. That figure is the broker’s own; no independent measurement of it exists, and none is asserted here.

On slippage (Slippage): no fill records exist for this review, so no slippage rate is given. Slippage tends to be small on the major pairs in normal conditions, and shows up around significant economic data releases and late at night when liquidity thins, the same pattern as at any ECN broker.

FP Markets runs an ECN/STP model on the Raw ECN account, where orders go to liquidity providers directly with no broker intervention in the pricing. On the standard account the model is closer to a market maker (Market Maker), with the broker’s cost built into the spread. The cTrader platform shows genuine depth of market (Level II), so pending buy and sell orders at different levels are visible.

The order types available include immediate market orders, pending orders (Buy Limit, Sell Limit, Buy Stop, Sell Stop), stop-loss and take-profit, advanced orders such as Trailing Stop, and OCO (One Cancels Other) orders on cTrader. The published execution policy states that orders are filled with no requotes (No Requotes).

Worth noting: FP Markets states that it draws on more than 12 institutional liquidity providers from major global banks, which is what explains the low spread and fast execution on the professional accounts. The more liquidity providers competing, the tighter the price a trader sees, which means narrower spreads and quicker fills on the major pairs and gold during active hours. In thin-liquidity periods, by contrast — price gaps at the Monday open, or sudden geopolitical events — the spread can widen sharply, as it does at every ECN broker.

Deposit Methods

FP Markets offers a varied set of deposit methods covering most of what traders in the Arab region need. On the published schedule a 100 dollar deposit by Visa card reaches the account instantly and in full, with nothing deducted at the broker’s end.

The positive is that every deposit method is free of charge from the FP Markets side. A payment provider may still levy a charge of its own, and depositing in a currency other than the account currency can attract a conversion fee.

Card and e-wallet deposits (Skrill and Neteller) are the quickest and most convenient on the published processing times. Some banks in the Arab region, in Saudi Arabia and the United Arab Emirates especially, may decline the transaction on a first attempt for security reasons; the fix is to contact the bank to enable international transactions or raise the online purchase limit.

A point that matters for traders in the region: FP Markets supports many account base currencies, including the American dollar, the Australian dollar, the euro, pound sterling, the Canadian dollar and the Japanese yen. Choosing the account currency closest to the deposit currency avoids the conversion charges that can add a hidden cost to deposits and withdrawals. For deposits in American dollars, USD is the base currency to pick.

Withdrawal Methods

Withdrawal methods at FP Markets are almost identical to the deposit methods. On the broker’s published procedure, a withdrawal is requested through the client portal (Client Portal) in a few simple steps.

Can money be withdrawn from FP Markets? This is one of the most frequently asked questions about any broker. No withdrawal has been placed or timed for this review, so the times in the table below are the broker’s own published figures, as they stood in the first quarter of 2026; they cover the card, bank transfer and e-wallet routes, Skrill among them, and they stand unverified.

FP Markets normally processes a withdrawal request within one business day; the time after that depends on the payment provider. Withdrawal is not instant in the way it is at Exness, but it sits inside the normal industry range.

The limited complaints that appear on Trustpilot and FPA about withdrawals mostly concern rare cases where profits were cancelled after a breach of the terms of service. For an ordinary, fully verified account trading legitimately, there is nothing in the public record pointing to a systemic withdrawal problem.

Customer Support

FP Markets provides support in more than 40 languages, Arabic among them, which reflects a commitment to serving varied markets. The table below lists the channels published as of February 2026 and the availability the broker states for each. Response speed and reply quality go unassessed here: judging them would mean contacting the desk, and no contact has been made.

Live chat (Live Chat): the broker lists live chat as available around the clock, with Arabic among the languages handled. Where a chat opens in English, an Arabic-speaking agent can be requested. The difference between the Standard and Raw ECN accounts is the sort of question the desk handles, though no target response time is published and none is measured here.

Email: written enquiries go to a published support address. The help centre holds explanatory articles covering the same ground. No target reply time is published for email, and none is claimed here.

Telephone: FP Markets publishes local and international telephone numbers. Whether Arabic is handled on the line is not tested here, but having the channel at all sets FP Markets apart from brokers such as Exness, which offers no telephone support.

Arabic-language support is not a scored category here, since scoring it would require contact that has not been made. On the published availability it runs around the clock and includes a telephone option, which puts FP Markets ahead of competitors limited to chat and email. Exness is the broker most often singled out for fluency in Arabic.

The help centre on the FP Markets site holds a substantial knowledge base, with dozens of articles translated into Arabic covering account opening, platform settings, deposits and withdrawals, and technical troubleshooting. That material resolves many common problems without any need to contact the support team.

Research and Educational Material

The educational and research material FP Markets publishes gives better coverage than the industry average. FP Markets appears to invest in educational content as part of a strategy aimed at serious traders.

Educational content: the site carries a set of articles, guides and videos covering everything from trading basics through to advanced strategies, some of it available in Arabic. The topics include an introduction to forex and contracts for difference, technical and fundamental analysis, risk management, and trading strategies. The material suits beginners and intermediate traders well.

Traders Hub: FP Markets runs a dedicated section called Traders Hub carrying daily and weekly market analysis, technical reports and coverage of economic events. On the publication schedule as it stood in February 2026, the analysis appears regularly and goes into a good level of detail, with charts alongside.

Analysis tools: the supported platforms, cTrader and TradingView in particular, carry advanced technical analysis tools including more than 100 technical indicators and a varied set of drawing tools. The cTrader platform also includes Autochartist for automatic recognition of technical patterns.

The economic calendar: available inside MT5 and cTrader and on the website, listing upcoming economic events with market forecasts and previous figures. A useful tool for anyone trading on economic news.

Overall the educational material at FP Markets is better than the industry average. It is less comprehensive than at brokers such as IG or Saxo Bank, but it beats many forex brokers for range and quality. Anyone looking for further sources on financial analysis and its tools would do well to use specialist sources alongside what the broker provides.

Fund Safety and Safeguards

Fund safety is among the most important factors in choosing a broker. On the fund-protection policies FP Markets published in February 2026, the safeguards come in several layers and differ with the entity holding the account.

Segregation of client money: FP Markets states that client money is held in separate accounts at first-tier banks (Tier-1 Banks), kept apart from the company’s own operating funds. The Australian ASIC entity is subject to strict oversight of that segregation, so money held there sits under the tightest of the applicable rulebooks. The CySEC entity imposes demanding requirements on the same point.

Negative balance protection: FP Markets provides negative balance protection on all accounts, which means an account cannot fall below zero however violent the market move. It is mandatory under ASIC and CySEC regulation and is applied on the other entities too.

Compensation arrangements: the CySEC entity falls within the investor compensation fund (ICF), whose ceiling is set at 20,000 euros per client in the event of the firm’s insolvency. The ASIC entity has no comparable arrangement, but it imposes strict capital requirements and mandatory segregation of funds. The Seychelles and Saint Vincent entities, which most clients in the Arab region deal with, carry no statutory arrangement of this kind.

Fund safety against competitors: the level of safeguard at FP Markets is comparable to firms such as IC Markets and Pepperstone, which also hold an ASIC licence. The difference lies in the entity that serves clients in the Arab region, which is an offshore one carrying fewer obligations. That position is common across the industry and not specific to FP Markets.

Financial transparency: FP Markets does not publish monthly financial reports as Exness does, but being subject to the reporting requirements of ASIC and CySEC means its accounts are independently audited on a regular basis. The ASIC regime requires licensed brokers to file annual reports and audited financial statements, which adds a layer of transparency and accountability.

Protection against manipulation: trading at FP Markets through an ECN/DMA model means prices come straight from liquidity providers rather than being constructed by the broker. That reduces the scope for price manipulation or for unjustified spread widening. The cTrader platform in particular gives full transparency on depth of market, so pending buy and sell orders at each price level are visible.

On fund safety overall: FP Markets is a well-established firm with an operating record of more than 20 years and licences from first-tier authorities. The safeguards on the Australian and European entities are excellent. A trader in the Arab world should be clear, though, that the account sits with an offshore entity carrying fewer regulatory obligations, which is true of most international brokers. The sensible rule is never to deposit more than can be afforded as a loss, and to check which entity the account will be booked with before opening it.

The Verdict

Taken as a whole, and on the terms published for the first quarter of 2026, FP Markets is a credible and competitive broker offering a professional trading experience, with a few reservations that need weighing.

Who FP Markets suits:

• Intermediate and advanced traders looking for a competitive raw spread and a low commission (6 dollars round turn)
• Anyone who wants a choice of trading platforms (MT4, MT5, cTrader, TradingView, IRESS)
• Equity traders who need access to hundreds of international shares through contracts for difference
• Anyone who values first-tier regulation (ASIC, CySEC) as a signal of a firm’s commitment to high standards

Who it may not suit:

• Beginners who want to start with less than 100 dollars
• Traders who need a swap-free account granted automatically and without an administration fee
• Anyone looking for withdrawals that clear within minutes, as at Exness

Common concerns addressed:

On the question “is FP Markets a scam or a fraud?”, which recurs in Arabic-language search: on the public registers, no. The firm has operated since 2005 and holds licences from two first-tier authorities (ASIC and CySEC), and it carries 4.9/5 on Trustpilot from more than 10,000 reviews. None of that means every experience will be a good one, and none of it makes trading free of the risk of losing money. For more on telling a trustworthy firm from a fraudulent one, there is a guide to fraud in the trading market.

On “FP Markets is haram”: the Islamic account gives a trader the option of avoiding overnight interest. The administration fee that applies once the grace period ends may still raise questions for some. Whether trading is permissible or not falls outside the scope of this review and calls for specialist religious advice.

On “problems with FP Markets”: a small number of negative reviews on Trustpilot concern cancelled profits or closed accounts, but they are rare against the thousands of positive ones (94% award 5 stars, against only 2% awarding one). It is worth stressing that individual complaints surface around any broker, whatever its size or reputation. The better measure is the ratio of complaints to total clients, and for FP Markets that ratio is very low on the available data.

On “is FP Markets banned in Saudi Arabia?”: there is nothing to indicate a specific ban on FP Markets in the Kingdom of Saudi Arabia. The firm accepts clients from Saudi Arabia and the Gulf states. It is worth noting, though, that trading forex and contracts for difference through foreign brokers falls outside the remit of the Saudi Capital Market Authority (CMA), so a Saudi trader has no recourse to a local authority. That position applies to every international broker and is not specific to FP Markets. For more on trading safely and choosing a trustworthy broker, there is a broker verification section.

This review publishes no headline score of its own; the rating shown in the summary panel at the top of the page is derived from the published rating methodology. On the substance: a well-established Australian broker combining strong regulation, low trading costs and an unusually wide platform range. The commission on the Raw ECN account undercuts the prevailing standard (6 dollars against 7 dollars at most competitors), and the instrument range runs past 10,000 instruments through IRESS. The main reservations are the relatively high minimum deposit (100 dollars) and the administration fee on the Islamic account after a 10 day grace period. An intermediate or advanced trader looking for a well-regulated broker with a competitive spread and a choice of platforms should have FP Markets on the shortlist. A beginner on a limited budget may find better options, such as XM, which accepts smaller deposits. The broker reviews index is the place to compare before deciding.

Related reviews on this site: FxPro.