FP Markets review 2026: real costs, deposits and withdrawals, and who it suits

The brand is FP Markets, but both registers list the full name:

Typing "FP Markets" into the search tool will not match any company name. This is not a bad sign, just an abbreviation, but it is enough for someone checking on their own to wrongly conclude that the broker made up its licences.

An Australian licence granted in 2005 is one of the earliest dates among the 20 brokers I track.

FP Markets is trustworthy, as far as the registers show: its Australian licence dates from 2005, one of the earliest among the 20 brokers I track, and both the ASIC and CySEC registers confirm the legal entity, only under the name First Prudential Markets rather than “FP Markets”.

This FP Markets review 2026 is for two kinds of reader: those who want to check the paperwork themselves without the lookup missing, and those weighing whether the broker's Raw account is really cheap for their trading style. Score across 6 criteria: 4.5/5, labelled strength: very low ECN spreads.

Founded 2005, headquartered in Australia. Licences: ASIC, CySEC, FSA. The broker's official regulatory disclosure page lists more in full: CySEC (371/18), ASIC (AFSL 286354), FSCA (50926), FSA Seychelles (SB130), FSC Mauritius and CMA Kenya. Platforms: MT4, MT5, cTrader, TradingView. Minimum deposit 100 USD. Two account types: Raw and Standard.

FP stands for First Prudential. That small detail leads many people checking on their own to wrongly conclude that the broker made up its licences, because typing “FP Markets” into the search tool will not match any company name. Both registers list the full name:

The original line in the Australian register, so you can compare it word for word:

FIRST PRUDENTIAL MARKETS PTY LTD. AFS Licence 286354, granted 31/05/2005, SYDNEY NSW.

To check it yourself, use AFS number 286354 or type “First Prudential” exactly. And once more: the Australian licence was granted on 31/05/2005.

The six licences range from Tier-1 (ASIC, CySEC) down to lighter tiers (FSCA, FSA Seychelles, FSC Mauritius, CMA Kenya). That list belongs to the group; your rights follow exactly one legal entity, the one named in your account opening agreement.

Vietnamese clients at brokers structured this way are usually placed with the Seychelles or Mauritius branch: looser leverage, but without the compensation and supervision mechanisms that clients of the Australian or Cypriot entity enjoy.

Before depositing, find the line with the company name in the terms; if it is First Prudential Markets Pty Ltd, you are under the ASIC umbrella, and if you see some small-island entity, you know where you stand.

FP Markets advertises spreads from 0.0 pip, but that figure is only half the story. The broker has two routes:

The first route, Raw: raw spreads from 0.0 pip, with the broker charging a commission of about 3 USD/lot. This is the route for frequent traders, scalpers, people running EAs, anyone for whom every tenth of a pip turns into money.

The second route, Standard: spreads from 1.0 pip, no commission. The fee is packed into the spread in exchange for simplicity, suiting people who trade less often and do not want to add up two charges.

To compare the two routes with each other, or FP Markets with another broker, there is only one correct method: work out the total cost of one round-turn lot (spread converted to money plus commission) on the exact pair you usually trade. The 0.0 figure on its own is bait, not a price.

Supported channels: local bank transfer, card, e-wallet, crypto. Withdrawals are usually processed within the business day; e-wallets and crypto arrive faster than the bank route, and everything is much smoother when KYC has been completed in advance. The local gateway is a practical plus for Vietnamese traders.

MT4 and MT5 for the vast majority, with a library of EAs and indicators deeper than anywhere else. cTrader for those who like depth of market and pure ECN-style execution.

TradingView for those who already do their analysis there and want to place orders without switching windows. The broker's execution infrastructure is among the fast ones, which is why scalpers and EA traders often name FP Markets.

It is not a scam model, and this is one of the cases I answer with the most ease: the ASIC/CySEC/FSA licences can be traced down to the line, with twenty-one years of operation since 2005. A broker built to grab money does not survive two decades under ASIC's eye.

Existing complaints trace back to three roots familiar across the industry: not reading the account conditions fully, high leverage burning through accounts, and being asked for extra verification when withdrawing large amounts; the last is a compliance procedure, not money being held back.

As for Vietnam, it is like every international broker: not licensed in Vietnam, and you bear the responsibility yourself.

Choose it if you count every cent of cost: scalpers, people running EAs, high-volume traders who need low raw spreads and fast execution.

Keep weighing if you are a complete beginner and need a large Vietnamese-speaking community to guide you, or if you want a lower entry point than the 100 USD mark. Beginners who still choose this broker should go slowly: small capital, low leverage, test first and only then add more.

Same nationality, same low-cost ECN segment, this is the closest-matched pair to compare:

IC Markets takes the recommended column because it uses the same Raw ECN model; but to be fair, FP Markets wins on a commission half a dollar lower per lot and the addition of TradingView. On entry cost, IC Markets lists no minimum deposit while FP Markets asks 100 USD. See also: detailed comparison of IC Markets vs FP Markets (in Vietnamese).