FP Markets Review 2027 Supported Platforms and Tools

Australian brokers have set the standard for low-cost forex execution over the past fifteen years, and FP Markets was there at the start. Founded in Sydney in 2005, it predates most of its better-known local rivals. This FP Markets review for 2027 looks at how its Raw and Standard accounts stack up, what its unusually broad platform selection offers, and where the broker sits on regulation.

Background

FP Markets, originally First Prudential Markets, was established in 2005 by Matt Murphie, who continues to lead the company. It started as a provider of direct market access share CFDs for Australian traders and later became a significant forex broker with clients in most regions of the world. It remains privately owned.

The broker operates an ECN-style model on its forex accounts, sourcing prices from a group of liquidity providers and executing orders without a dealing desk. Its servers are located in a major New York data centre alongside those of many institutional market participants, which helps keep execution times low.

Regulation and safety

FP Markets is regulated by ASIC in Australia and CySEC in Cyprus, and operates further entities authorised by the FSCA in South Africa, the CMA in Kenya and offshore regulators including the Financial Services Commission of Mauritius. Clients from most countries outside Australia and the EU are served by the offshore entities.

Australian and European retail clients benefit from the stronger protections of those regimes: segregated client money, negative balance protection, and leverage capped at 1:30 on major pairs, with EU clients covered by the Cypriot investor compensation fund. International clients can access leverage of up to 1:500 with fewer formal safeguards. Client funds are held with top-tier banks in segregated accounts across all entities.

FP Markets review of accounts and costs

The two main forex accounts are simple to compare.

The Raw account's commission is among the lowest charged by major brokers, and with spreads on EUR/USD often close to zero during liquid hours, the total cost per round trip is very competitive. For anyone trading frequently, Raw is clearly the more economical choice. The Standard account suits traders who prefer a single all-in price.

FP Markets does not charge inactivity or account maintenance fees. Deposits are free, and the broker covers internal fees on many funding methods; some withdrawal methods, particularly international bank wires and certain e-wallets, carry charges. Swap-free Islamic accounts are available, with an administration fee replacing overnight swaps on positions held for longer periods.

Platforms and tools in 2027

Few brokers match the range on offer here:

• MetaTrader 4 and MetaTrader 5 with a suite of additional trader tools
• cTrader, added to cater for traders who prefer its interface and automation
• TradingView with direct order execution
• Iress, a professional platform providing direct market access to share CFDs on global exchanges
• The FP Markets mobile app for account management and trading

Automated traders are well catered for. Expert advisors and cBots are permitted without restriction, free VPS hosting is available to clients who meet volume requirements, and scalping and hedging are allowed. Copy trading is offered through the broker's own social trading service and third-party platforms, and money managers can use multi-account management tools.

Range of markets

FP Markets offers more than 70 currency pairs alongside CFDs on indices, commodities, metals, bonds, cryptocurrencies and a very large number of shares. Through the Iress platform, clients can trade share CFDs with direct market access on exchanges around the world, bringing the total number of instruments above 10,000. That makes FP Markets one of the broadest offerings among brokers primarily known for forex, though the largest selection is available only on Iress, which carries its own fee structure.

Education and research

The Traders Hub provides daily technical and fundamental analysis, video commentary and an economic calendar, and the education section includes courses, e-books, webinars and platform tutorials. The material is solid and regularly updated. It is not as extensive as the academies of the largest listed brokers, but it covers what most developing traders need.

Customer service

Multilingual support is available around the clock, seven days a week, through live chat, email and telephone. Response times are generally short, and the broker has won a string of industry awards for client satisfaction. Account opening is fully online and typically approved within a day once documents are submitted.

Pros and cons

Who is FP Markets best for?

FP Markets is a strong all-round choice for active forex traders, scalpers and algorithmic traders who want raw pricing and freedom of platform. It also appeals to traders who want direct market access share CFDs alongside currencies. Those who put a premium on being under a top-tier regulator should confirm that they will be onboarded with the Australian or Cypriot entity.

Frequently asked questions

Risk warning: trading leveraged derivatives carries a high level of risk to your capital. This FP Markets review is for information only and is not investment advice.