By Albert Czajkowski, Editor and founder of ForexRev

FP Markets Review 2026: FP Markets EU, Standard and Raw Accounts, MT4, MT5, cTrader

FP Markets is an Australian forex and CFD broker. EU clients are served by First Prudential Markets Ltd, a Cyprus investment firm licensed by CySEC (CIF 371/18, company no. HE 372179), through the fpmarkets.eu website. Older descriptions refer to “FP Markets (Europe) Ltd” — the client agreement names First Prudential Markets Ltd.

In short: two accounts — Standard (no commission, the cost is in the spread) and Raw (raw spread plus a commission of $3 or €2.75 per lot per side on forex and metals) — on MetaTrader 4, MetaTrader 5 and cTrader. Per the client agreement (10 July 2026) the broker charges no dormant account fees. Share of retail CFD accounts that lose money: 74.51%. Checked on fpmarkets.eu on 26 October 2026.

1. Is FP Markets safe?

Yes — in its EU version. First Prudential Markets Ltd holds CySEC licence 371/18 and serves other EU countries under the EU passport; retail clients have negative balance protection and Cyprus Investor Compensation Fund cover up to €20,000. FP Markets is not on the Polish regulator KNF’s public warning list (26 October 2026). The ASIC, FSCA or FSA licences mentioned in older descriptions belong to other group companies (for example the non-EU FP Trading — see our FP Trading review).

2. Standard and Raw accounts

The broker publishes current typical spreads on its “Forex & CFD Spreads” page and in the platform’s Market Watch window. An account considered dormant after 90 days without activity is first deactivated, but per the client agreement no dormancy fees are charged.

3. Standard or Raw — a cost example

On the Raw account, 1 lot of EUR/USD costs $3 commission to open and $3 to close — $6 in total — plus the raw market spread. The Standard account has no commission, but the cost is built into a wider spread. On EUR/USD one pip on a 1-lot position is worth about $10, so $6 of commission equals about 0.6 pips: if the Standard spread is more than 0.6 pips wider than the Raw spread, the Raw account is cheaper. On 0.1 lot all amounts are ten times smaller, and indices, commodities, shares and crypto carry no commission on either account.

Raw usually suits traders who open and close positions often (scalping, expert advisors); Standard suits those who prefer one simple cost in the spread. Add swaps for positions held overnight.

4. FP Markets vs FP Trading — which company serves EU clients

Two different websites operate under the FP brand. fpmarkets.eu is run by First Prudential Markets Ltd, licensed by CySEC (371/18) — the company intended for EU clients. FP Trading consists of companies licensed or registered in Mauritius, South Africa, the UAE, St Vincent and Saint Lucia; the broker itself states that this website operates outside the EU regulatory framework and is not governed by MiFID II.

• FP Markets (EU): leverage up to 1:30 on major currency pairs (ESMA limits), negative balance protection, investor compensation up to €20,000, complaints to CySEC.
• FP Trading (non-EU): higher leverage but no EU protection — details in our FP Trading review.

When you register, check that the client agreement names First Prudential Markets Ltd and the fpmarkets.eu website.

5. Platforms and payments

• Platforms: MetaTrader 4, MetaTrader 5 and cTrader (Standard and Raw are available on each).
• Instruments (CFDs): forex, metals, commodities, indices, shares, ETFs and crypto.
• Payment providers per fpmarkets.eu: bank transfer (Bank of Cyprus), cards (Nuvei), PayPal, Skrill and Neteller. Methods and limits are listed in the client portal.

6. Pros, cons and verdict

7. Alternatives

• Pepperstone — Razor, MT4/MT5, cTrader.
• Tickmill — Raw account.
• FxPro — cTrader and MT4/MT5.

8. How to open a FP Markets account — step by step

1. Register on the FP Markets website — EU clients should be served by an EU company: First Prudential Markets Ltd (Cyprus) — CySEC CIF licence 371/18. Check the company name in your client agreement before depositing.
2. Enter your personal details and complete the questionnaire. Before offering CFDs, an EU broker must assess your knowledge and experience (the MiFID II appropriateness test) and warn you if CFDs are not appropriate.
3. Verify your identity with a passport or ID card and a proof of address (e.g. a utility bill or bank statement), as required by anti-money-laundering rules.
4. Choose the account type and base currency. An account in the currency you deposit in saves conversion costs.
5. Fund the account. Deposits are accepted only from accounts or cards in your own name.
6. Install the platform (MetaTrader 4, MetaTrader 5, cTrader) or log in via your browser. Practise on a demo account first, if the broker offers one.

9. Withdrawing money from FP Markets — how it works

You request a withdrawal in the client area. Under anti-money-laundering rules, funds usually go back via the method used to deposit (e.g. to the card up to the amount deposited by card) and only to an account or card in your own name. The first withdrawal may require full account verification, so upload your documents right after registering. Only free funds that are not used as margin can be withdrawn.

10. FP Markets compared with other brokers

For comparison, here is FP Markets next to other brokers whose reviews we updated in October 2026. Figures come from their summary tables — see the full reviews for details.

11. Leverage and client protection in the EU (ESMA)

As an EU investment firm, FP Markets applies the restrictions introduced by ESMA and adopted permanently by national regulators to retail clients:

• leverage up to 1:30 on major currency pairs, 1:20 on other pairs, gold and major indices, 1:10 on other commodities and indices, 1:5 on shares and 1:2 on crypto;
• margin close-out at 50% of required margin;
• negative balance protection — retail clients cannot lose more than they deposited;
• a ban on bonuses and trading incentives for retail CFD clients;
• a mandatory risk warning with the share of losing retail accounts — for FP Markets: 74.51% of retail CFD accounts lose money.

Higher leverage is only available to professional clients who meet the MiFID II criteria — at the cost of some protections, including negative balance protection.

12. Tax on profits from FP Markets

Tax treatment depends on your country of residence. FP Markets generally does not file tax returns for you, so keep the annual statement of trades from the client area. For Polish residents: profits from a foreign broker are reported in the PIT-38 return (19% tax), with foreign-currency amounts converted at the National Bank of Poland average rate from the business day before each trade.

13. Glossary: terms to know before opening a FP Markets account

• Spread — the difference between the buy and sell price, paid on every trade.
• Pip — the smallest typical price move of a currency pair (0.0001 for EUR/USD).
• Lot — the standard position size: 1 forex lot is 100,000 units of the base currency; 0.01 lot (micro lot) is 1,000.
• Commission — a fixed fee per trade, usually on raw-spread (ECN/Raw) accounts.
• Swap — the daily cost or credit for holding a position overnight, based on the interest-rate differential.
• Margin — the part of the position value set aside as collateral; at 1:30 leverage about 3.33% of the position.
• Margin call and stop out — a warning and automatic closing of positions when equity falls relative to required margin.
• Slippage — execution at a different price than requested, common around news releases and price gaps.

14. FAQ

Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.51% of retail CFD accounts lose money. This review is for information only and is not investment advice.

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