Is FP Markets Safe?

Is FP Markets safe and regulated?

Three active regulatory licences, a 20-year operating history with no enforcement action on record, and four verified withdrawal cycles confirm that FP Markets is safe for retail traders in Australia, the EU, South Africa, and most of MENA and Southeast Asia. We opened a live funded account in 2026 and tested withdrawals across four cycles, with Skrill clearing in 4 to 8 hours each time.

The safety picture depends on which entity holds your account. All three licences were verified against public registers in May 2026:

• ASIC (Australian Securities and Investments Commission), AFSL 286354, granted 2005. Retail clients access AFCA (Australian Financial Complaints Authority) dispute resolution and negative balance protection on the retail tier, meaning the account cannot go below zero.
• CySEC (Cyprus Securities and Exchange Commission), licence 371/18, granted 2018. EU and UK retail clients open under this entity, covered by the ICF (Investor Compensation Fund) for up to €20,000 per person if the broker fails, with MiFID II leverage capped at 1:30 on major FX pairs.
• FSCA (Financial Sector Conduct Authority, South Africa), FSP 50926, granted 2019. South African retail clients fall under local conduct oversight with no statutory compensation scheme on this tier.

FP Markets has operated for 20 years with no significant enforcement action on public record across any entity. Client funds on the ASIC entity sit in segregated accounts at Westpac and NAB, held separately from the firm’s own operating capital, and audited annually.

FP Markets is a legitimate broker: Trustpilot score 4.6 across 6,800 verified reviews, ASIC licence held without interruption since 2005, and no scam indicators or unresolved public warnings on any entity.

One caveat for UK traders: FP Markets routes UK clients through the CySEC entity, not an FCA-authorised entity. FSCS (Financial Services Compensation Scheme, up to £85,000) therefore does not apply.

CySEC clients receive ICF coverage instead, capped at €20,000 per eligible retail client. That is a lower ceiling than FSCS, but the ICF is a statutory EU fund that operates under the same MiFID II framework used by every EU-regulated broker.

Key facts

Should you trade with FP Markets?

Active traders in Australia, the EU, South Africa, and MENA who want onshore ASIC or CySEC oversight at Raw ECN pricing will find FP Markets a strong match. The $100 minimum deposit is higher than XM ($5) or Exness ($10), but it gives access to spreads averaging 0.05 pips on EUR/USD in our 2026 testing, competitive with IC Markets Raw on the same metric.

Two steps to take before funding:

1. Check your account agreement in the FP Markets client portal to confirm which legal entity holds your account. ASIC and CySEC entities carry stronger statutory protections than the FSCA entity.

2. Run a small first withdrawal ($50 to $100) via your preferred method before committing larger capital. In our testing, Skrill cleared in 4 hours on a standard trading day.

New to forex with $500? Your country of residence sets which entity holds your account and what protection applies.

South Africa routes you to the FSCA entity, which has no statutory compensation scheme. Start with a demo, fund the $100 minimum, and run one small Skrill withdrawal before committing more capital.

FP Markets does not accept residents of the US, Canada, or Japan on any entity. For the full spread data, execution results across 420 live orders, and a per-account-type cost breakdown, read the FP Markets review.

For a ranked overview of regulated forex brokers by licence tier and deposit protection, see the best forex brokers guide.