IC Markets - Regulated By FSA
With FP Markets Broker in the house, you have got the tendency to roll with more than 13 thousand trading tools. For investors, it's a safe environment to invest and get their desired results without any obstacles coming their way.
FP Markets — short for First Prudential Markets — has spent 20 years quietly building one of the broader multi-asset broker offerings out of Sydney. Two decades of ASIC and CySEC regulation, 10,000+ tradeable instruments, the rare combination of MetaTrader, cTrader, TradingView, and the Iress suite for direct share trading. Below is what six weeks of live-account testing revealed, including unfiltered notes on the Raw account economics, the early-2026 CySEC settlement and workforce reduction, and where FP Markets quietly trails its rivals.
FP Markets suits multi-asset active traders who want competitive ECN-style raw spreads alongside genuine direct-share trading via the Iress platform — a combination most ECN brokers don't offer. The Raw account at $3 per side ($6 round-turn) on EUR/USD is genuinely cheaper than IC Markets ($7 RT) and Tickmill ($6 RT after the 2025 hike). Two decades of ASIC and CySEC regulation, 10,000+ tradeable instruments, and the four-platform stack (MT4, MT5, cTrader, TradingView) cover almost every use case from algo trading to share investing.
It is less ideal for traders who prioritise the strongest mobile experience — FP Markets' mobile app trails leading dedicated apps from CMC Markets and IG. Education and research content lags significantly behind IG, AvaTrade, and FXTM. The Iress platform carries a meaningful AUD 55 monthly fee unless you trade actively or hold AUD 50,000. US and Japanese residents cannot open accounts. The early-2026 CySEC fine settlement and workforce reduction are real events worth knowing about, even if they don't undermine the broker's overall solidity.
This review reflects six weeks of hands-on account testing. Every step was documented so any claim below can be challenged or replicated.
FP Markets operates through six regulated entities: First Prudential Markets Pty Ltd under ASIC (license 286354, Sydney), FP Markets Ltd under CySEC (371/18, Cyprus), FP Markets (Pty) Ltd under FSCA South Africa (50926), an FSC Mauritius entity (GB21026264), an FSA Seychelles entity, and a CMA Kenya entity. The ASIC and CySEC licenses are the meaningful Tier-1 regulatory anchors and are publicly verifiable on each regulator's register.
The protection structure varies meaningfully by entity. EU clients under CySEC are covered by the Investors Compensation Fund (ICF) up to €20,000 per eligible client in the event of broker insolvency. Australian clients under ASIC receive segregated client trust accounts but no comparable compensation scheme — the National Guarantee Fund does not cover CFDs. Negative balance protection applies across all global entities. Most non-EU and non-AU clients are onboarded under the FSA Seychelles or SVG entity, where statutory protections are weaker.
The honest framing this review owes readers: in early 2026 FP Markets settled a €100,000 fine with the Cyprus Securities and Exchange Commission over potential CFD compliance breaches. The settlement was publicly disclosed and CySEC oversight remains in place. A workforce reduction of up to 7% followed in April 2026, framed by the company as part of an organisational review. Trading operations were not reported as affected. These events don't undermine the broker's overall solidity (4.8/5 Trustpilot, 20-year track record), but they're material context any prospective client deserves.
FP Markets uses a clean two-account pricing structure on the MetaTrader/cTrader side. The Raw account publishes EUR/USD spreads from 0.0 pips with a $3-per-side commission ($6 round turn per standard lot) — competitive against IC Markets Raw ($7 RT) and Tickmill Raw ($6 RT after 2025 hike). The Standard account is commission-free with spreads averaging 1.0–1.2 pips on EUR/USD — wider than the Raw all-in cost but useful for traders avoiding commission complexity.
The economics in our test: EUR/USD spreads averaged 0.12 pips during peak London/New York hours on the Raw account, bringing the all-in cost to approximately 0.72 pips equivalent. This is competitive across the active-trader category. FP Markets won Best in Class for Trading Fees in 2026 — a claim backed by the published commission structure and verified spread data.
Non-trading fees are where FP Markets genuinely shines. No inactivity fees, no account maintenance fees, no withdrawal fees on bank transfer or credit cards on the broker side — though intermediary banks may apply their own charges. The exception is the Iress platform, which carries a AUD 55 monthly fee unless you generate at least AUD 200 in monthly commissions or hold an AUD 50,000 balance. International bank wire withdrawals do carry processing charges from intermediary banks.
FP Markets offers two main MetaTrader/cTrader accounts plus separate Iress tiers:
Demo accounts available across all platforms. MAM and PAMM accounts support managed trading and copy trading. Leverage caps vary by entity: up to 1:500 globally, capped at 1:30 under ASIC and CySEC retail rules.
FP Markets supports an unusually wide 21 withdrawal options globally — Visa/Mastercard, Neteller, Skrill, FasaPay, PayTrust88, Ngan Luong, plus bank wires and broker-to-broker transfers. Few competitors match this funding flexibility. Deposits are typically free; the broker also charges no withdrawal fees on bank transfer or credit card routes.
| Method | Speed | Fee | Notes |
|---|---|---|---|
| Visa / Mastercard | Instant deposit | $0 (broker side) | Most common entry route |
| Skrill / Neteller | Instant deposit | $0 (broker side) | Wallet fees may apply |
| Bank Wire | 1–3 business days | $0 (broker side) | Intermediary banks may charge |
| FasaPay / PayTrust88 | Same day | $0 (broker side) | Popular in Southeast Asia |
| Ngan Luong / Local | Same day | Varies | Vietnam & regional methods |
In our test, Skrill withdrawals cleared within hours during business days; card withdrawals took 24 hours; bank wire processed in 2 business days. The lack of cryptocurrency funding is one of the few notable gaps — many emerging-market-focused competitors now accept USDT or BTC.
FP Markets' platform breadth is one of its strongest assets. The broker supports MetaTrader 4, MetaTrader 5, cTrader, TradingView (Raw account only), and the Iress suite for direct share trading. Few competitors at FP Markets' scale match this breadth — particularly the inclusion of Iress, which gives traders genuine direct market access to ASX and global equities.
MetaTrader 4 and 5 remain the workhorses for algorithmic traders, with full Expert Advisor support and the standard plugin ecosystem. FP Markets ships 12 MT4 plug-ins by default — significantly more than most competitors offer pre-installed. The new TradeMedic AI-powered trade analytics tool helps traders learn from their past trading results — a genuine differentiator and a sign FP Markets is keeping pace with AI integration.
cTrader is the standout for serious algo developers — cleaner UI, native cAlgo support for C# strategies, and Open API for custom integrations. TradingView integration on the Raw account brings the popular charting platform with social sentiment features into the live workflow. Autochartist and Trading Central signals are integrated across platforms — both meaningful tools that some competitors charge extra for.
The Iress suite is the unique offering — direct market access to ASX and global equities with Level 2 pricing and depth-of-market data. The trade-off is the AUD 55 monthly fee unless you trade actively. Free VPS hosting is available for qualifying accounts trading sufficient volume.
24/7 multilingual support is available via live chat, email, telephone (toll-free +44 28 2544 7780), and social media. Languages staffed include English, Spanish, Portuguese, Chinese, Vietnamese, Arabic, and several others — strong coverage across Asia, EMEA, and Latin America. Personal account managers are available for higher-volume clients.
We tested live chat at peak London trading hours and received substantive answers within four minutes. Email tickets opened mid-week were answered within five hours. The 24/7 availability is a meaningful upside versus competitors offering only 24/5. Education and research content is genuinely thin compared to IG, AvaTrade, or FXTM — primarily blog articles, webinars, and integrated Trading Central/Autochartist signals.
Common reader questions, answered with direct testing data and regulatory verification.
FP Markets operates legally across most major financial jurisdictions through its six regulated entities, but does not accept clients from the United States or Japan due to local regulatory requirements. Verify which FP Markets entity will service your account based on your country of residence — the protection level varies meaningfully between ASIC, CySEC, FSCA, FSC Mauritius, FSA Seychelles, and CMA Kenya.
FP Markets settled a €100,000 fine with the Cyprus Securities and Exchange Commission in early 2026 over potential CFD compliance breaches. The settlement was publicly disclosed and ongoing CySEC oversight remains in place. This is a meaningful but not catastrophic regulatory event — settlements of this size with active license retention are relatively common across the regulated CFD industry, though they're worth knowing about before depositing.
The Standard account is commission-free with average EUR/USD spreads of 1.0–1.2 pips. The Raw account charges $3 per side ($6 round turn per standard lot) but spreads start from 0.0 pips with raw interbank pricing — all-in cost roughly 0.72 pips on EUR/USD in our test. Raw is materially better for almost every realistic trader; Standard only makes sense for very-low-volume positions.
Iress is a professional-grade platform giving direct market access to ASX and global equities with depth-of-market data and Level 2 pricing — genuinely different from MetaTrader's broker-quoted spreads. The AUD 55 monthly fee is waived if you generate AUD 200+ in monthly commissions or hold a AUD 50,000+ balance. For active share traders, it's worth it; for casual or occasional users, the MetaTrader/cTrader stack is better value.
In most jurisdictions, yes. Forex and CFD profits are typically classified as income or capital gains depending on your country's tax code. Maintain transaction records from day one and consult a qualified tax adviser in your country before reaching significant profit levels — FP Markets does not file tax returns on your behalf.
The most common reason new traders lose their initial deposit is not bad strategy — it is treating month one as a profit window rather than a learning window. Here is the schedule we would recommend based on this review.
If account balance is positive after 30 days of disciplined position sizing, you have proved the workflow. If not, the problem is process, not deposit size, and adding more capital will only widen losses.
ASIC and CySEC Tier-1 regulation · Raw account at $6 round-turn (cheapest in its tier) · 10,000+ instruments · MT4, MT5, cTrader, TradingView, plus Iress for direct shares · TradeMedic AI analytics · 4.8/5 Trustpilot · no inactivity fees combine into a focused multi-asset package. The cost: a €100k CySEC settlement and 7% workforce reduction in early 2026, mobile app trails leaders, and Iress carries a meaningful monthly fee unless you trade actively.
Chief Idea reviews are funded in part by affiliate partnerships with select brokers. We may earn a commission when readers open an account through links on our site, at no additional cost to the reader. Rankings, ratings, and verdicts are determined exclusively by our editorial team based on hands-on testing, regulatory verification, and our published methodology. No broker can pay for placement, score, or favourable mention. We test brokers we have no affiliate relationship with under the same protocol applied to every review.
Risk disclosure: Trading forex and CFDs carries a high level of risk and may not be suitable for all investors. The majority of retail investor accounts lose money when trading CFDs with this provider. Trade only with capital you can afford to lose, verify all licenses on the regulator's official register before depositing, and consult a tax adviser in your jurisdiction regarding your reporting obligations.
Overall Rating
I've been using FP Markets for quite some time, and the system handles goods and executions admirably.
To open the account on the FP Markets Broker Platform, you need to follow the instructions given below:
1. The first step is to head toward the website by Clicking Here
and you’ll end up finding yourself at the homepage of the FP Markets Broker:
FP Markets Broker homepage
2. Now scroll down, and you’ll witness a button “Open an Account Now” and then click on it:
FP Markets Broker Opening Account
3. Once you click on it, you’ll end up opening a form where you’ve to enter the valid information regarding yourself.
4. Once you enter all the information, you’re all set to start the trading.
That’s how easy it is to open an account on FP Markets Broker.
The process of withdrawing the money is super easy, here’s how you can do it.
Now, as we are done with opening the account and withdrawing the money, let’s discuss what customers have to say about this platform.
So, before we head towards the comparison, we have selected the top 3 critical reviews from the customer (Without being biased) in order to help you understand “If the platform is worth it or not.”
Let’s give that review a quick look:
You’ll hardly find any negative reviews about FP Markets Brokers because they are so professional. If you want to look at more customer reviews, you can simply head towards “Trust Pilot.”
Now, it’s time to discuss the comparison of “FP Markets Broker” with IC Markets.
Let’s rock and roll!
So, that’s all from the comparison of FP Markets with IC Markets. It’s time to talk about the advantages and disadvantages of “FP Markets” in order to help you know more about this platform.
Let’s talk about it.
Following are the advantages and disadvantages of FP Markets Broker:
So, these are the advantages and disadvantages of “FP Markets Broker” and let’s now talk about the contests, Promotions, and Broker Bonuses.
Let’s talk about the bonuses first:
As we all know, “FP Markets” are regulated by the ASIC, and they are fully regulated. Therefore, there’s no room for the account opening bonuses and on their trading account. But, you can still head towards their Bonuses Page to confirm if they are offering any.
Now, it’s time to talk about the promotions: There’s bad news for the ones who are looking for grabbing the opportunity of Bonuses and Promotions. Yes, they don’t offer any bonuses and promotions because it goes against the rules of their regulatory restrictions.
Let’s now talk about the contest: There was a contest going on in 2019 in which the one that scores the highest number will win the contest. But, they don’t have to offer any contests right now for the “Users,” and after the new website update, there’s no contests page on their website. This might be the indication that they have finished the “Contests” section from their platform.
But, you can subscribe to their daily newsletter in order to keep your eye on every news coming their way.
