FP Markets (First Prudential Markets) is an Australian forex and CFD broker founded in 2005 and headquartered in Sydney. It combines true ECN raw-spread pricing with an unusually wide platform lineup — MetaTrader 4, MetaTrader 5, cTrader, and the IRESS platform for direct-market-access share trading. Regulated by ASIC and CySEC, FP Markets offers forex, indices, commodities, shares, and cryptocurrency CFDs, and has built a strong reputation among active traders for tight spreads, deep liquidity, and reliable execution.
About FP Markets
With nearly two decades in the market, FP Markets has grown into one of Australia's most established multi-asset brokers, serving clients globally through separately regulated entities. Its standout feature is the choice between ECN forex trading on MT4/MT5/cTrader and genuine DMA equities trading via IRESS, letting traders access both leveraged CFDs and real share markets. The broker is regulated by ASIC (Australia) and CySEC (Cyprus), and emphasises low-cost execution and broad market coverage.
Key Facts
| Item | Details |
|---|---|
| Founded | 2005 |
| HQ | Sydney, Australia |
| Regulation | ASIC (AU), CySEC (EU) + global entities |
| Markets | Forex, indices, commodities, shares, crypto CFDs |
| Platforms | MetaTrader 4, MetaTrader 5, cTrader, IRESS |
| Spreads | From 0.0 pips (Raw account) |
| Commission | ~$3.00 per side, per lot (Raw) |
| Leverage | Up to 1:500 (offshore) · 1:30 retail (ASIC/CySEC) |
Key Features
ECN Raw Spreads
FP Markets' Raw account delivers interbank spreads from 0.0 pips on major pairs plus a competitive commission, aggregating pricing from a deep network of liquidity providers — a structure that suits scalpers and high-volume traders.
IRESS DMA Share Trading
In addition to MetaTrader and cTrader, FP Markets offers the IRESS platform for direct-market-access trading of real shares, giving traders Level 2 pricing and genuine equity exposure alongside leveraged CFDs — a rare combination among forex brokers.
Multi-Platform & Crypto CFDs
Traders can pick MT4, MT5, or cTrader to match their workflow, with crypto CFDs available for leveraged long or short exposure to Bitcoin, Ethereum, and other coins without holding the underlying assets.
Fee Structure
| Service | Fee |
|---|---|
| Raw account | From 0.0 pips + ~$3.00/side commission |
| Standard account | From ~1.0 pips, no commission |
| IRESS shares | Commission-based |
| Deposits | Free (most methods) |
| Inactivity fee | May apply after long dormancy |
Pros & Cons
Pros
- True ECN raw spreads from 0.0 pips
- MT4, MT5, cTrader and IRESS all supported
- Genuine DMA share trading via IRESS
- ASIC and CySEC regulated
- Competitive commissions and deep liquidity
Cons
- CFDs are leveraged — high risk of loss
- Crypto offered as CFDs only, not spot
- IRESS carries additional platform costs
- Higher leverage requires offshore entity
Summary
FP Markets is a well-rounded Australian broker that pairs true ECN raw spreads with an exceptionally broad platform lineup, including IRESS for genuine DMA share trading. Its ASIC and CySEC regulation, tight pricing, and multi-platform flexibility make it a strong choice for active forex and CFD traders who also want access to real equities. As with any leveraged provider, CFDs carry significant risk, and crypto exposure here is synthetic rather than spot.