FP MARKETS
FULL REVIEW 2026

Overview

FP Markets is a Sydney broker founded in 2005 — two decades of operation under ASIC and CySEC (plus FSCA and offshore entities) — with a 4.8/5 Trustpilot score (checked 5 Nov 2026). Its Raw account prices at 0.0-pip spreads with $3 per side ($6 round turn) — the lowest commission among our raw-spread picks — and independent testing has recorded unusually low swap rates, which matters for multi-day holds.

Platforms span MT4, MT5, cTrader, TradingView and IRESS. $100 minimum deposit, no deposit/withdrawal/inactivity fees, free VPS for algo traders. Full transparency note: FP Markets settled a €100,000 CySEC fine in early 2026 over CFD-compliance matters and trimmed its workforce ~7% in April 2026; ASIC and CySEC oversight continues, and neither event touched client funds.

Key Information

Leverage is shown as the retail cap set by the named regulator. A different group entity may offer more offshore, and a wholesale client may legitimately be offered more again.

Spreads & Trading Costs

FP Markets publishes its account terms as a table, which makes the comparison unusually clean.

Raw (MT4/MT5) — spreads from 0.0 pips, commission $3.00 per lot each way. That is $6 the round turn, a dollar under the $7 that IC Markets, Eightcap and Pepperstone all charge on their equivalent accounts. On a standard lot held for a multi-day Quant position that dollar is noise; across a year of FVG fills it is not.

Standard (MT4/MT5) — spreads from 1.0 pip, no commission.

Both open from $100 and carry leverage up to 500:1 on the non-EU entity, adjustable down to 1:1 from inside the account. Commission varies by account base currency, and separate IRESS accounts exist for share trading on different terms entirely.

Figures taken from FP Markets's own published pages and captured 24 September 2026. Spreads are variable and every broker quotes its tightest number; treat a “from” figure as a floor, not an average. Swap rates and any dormancy charge vary by instrument and entity and are not reproduced here.

Platforms & Execution

Platforms: MetaTrader 4, MetaTrader 5, cTrader and TradingView, plus IRESS for shares. FP Markets is one of only two brokers on this page whose platform line genuinely runs the full MetaTrader-and-cTrader set.

What it means for our signals: MT5 with a Raw account is the configuration that matches how our book is specified, and the $3-a-side commission makes it the cheapest raw account in this comparison. cTrader is priced separately, so check the rate for the platform you pick rather than assuming the MT rate carries over.

Execution: Raw pricing comes from the liquidity pool without a markup on the quote. FP Markets publishes no average execution-speed figure, so none is quoted here.

Figures taken from FP Markets's own published pages and captured 24 September 2026. Spreads are variable and every broker quotes its tightest number; treat a “from” figure as a floor, not an average. Withdrawal processing times, support hours and fill statistics are not published in a form we can cite; CANNOT VERIFY.

All 10 Brokers Compared

Every broker we review, side by side. Spread and commission are shown separately because a headline “0.0 pips” means nothing on its own — the commission beside it is what you actually pay. Figures are the raw or ECN account where one exists, checked August 2026.

Broker	Platforms	Min dep	EUR/USD spread	Commission	Max leverage	Regulator	US	EU
IC Markets Australia · est 2007	MT4MT5cTTV	$200	0.0 pips	$7 RT	1:30 retail ASIC · 1:500 offshore	ASIC	No	Yes
Pepperstone Australia · est 2010	MT4MT5cTTV	$0 ▲	0.0 pips	$7 RT ($6 cT)	1:30 retail ASIC · 1:500 offshore	FCA · ASIC · CySEC	No	Yes
FP Markets Australia · est 2005 · ● HERE	MT4MT5cTTV	$100	0.0 pips	$6 RT ▲	1:30 retail ASIC · 1:500 offshore	ASIC · CySEC	No	Yes
Eightcap Australia · est 2009	MT4MT5TVTL	$100	0.0 pips	$7 RT	1:30 retail ASIC · 1:500 offshore	ASIC	No	Check
TMGM Australia · est 2013	MT4MT5IRS	$100	0.0 pips	$7 RT	1:30 retail ASIC · 1:500 offshore	ASIC	No	Check
Vantage Australia · est 2009	MT4MT5TVPT	$50	0.0 pips	$6 RT ▲	1:30 retail ASIC · 1:500 offshore	ASIC	No	Yes
XM Cyprus · est 2009	MT4MT5APP	$5	0.6 pips	None	1:30 retail CySEC · 1:1000 offshore	CySEC · ASIC	No	Yes
IG United Kingdom · est 1974	MT4MT5TVPRT	~$0	0.6–0.9 pips	None	1:30 retail FCA	FCA + 7 more ▲	FX only	Yes
Interactive Brokers United States · est 1978	TWSIBDAPI	$0	institutional	per notional	1:50 retail US	SEC · FINRA + 4 ▲	No	Yes
eToro Israel / UK · est 2007	OWN	~$50	1.0+ pips	None	1:30 retail CySEC	FCA · CySEC · ASIC	No CFDs	Yes

LEVERAGE NOTE: ASIC caps retail CFD leverage at 30:1 on major FX pairs, 20:1 on minor pairs, gold and major indices, and 10:1 on other commodities (Product Intervention Order, in force since 29 March 2021). CySEC and the FCA apply the same 30:1 major-pair cap. Higher figures shown here are offered by these brokers’ offshore entities, which sit outside those regimes and outside the investor-protection schemes that come with them. Check which entity is opening your account before you rely on any leverage figure.

Platforms: a lit chip means the platform is offered. ▲ marks the best figure in that column — on cost, lower is better, and spread and commission must be read together. Maximum leverage is the tier-1 regulated figure — offshore entities of the same brand often advertise more, with weaker protection. “Check” means availability depends on your country of residence and the entity that onboards you, so confirm before funding. Costs move with market conditions; the figure on your own account is the only real one.