Is FP Markets Legit?
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- Best for ASIC regulation
- Best for Raw ECN spreads
- Best for AU traders
- Best for IRESS stocks
- Min deposit
- $100
- Spread from
- 0.0 pips
- Max leverage
- 1:500
- Regulation
- ASIC · CySEC
Quick answer
Three active regulatory licences confirm FP Markets as a legitimate broker: ASIC AFSL (Australian Financial Services Licence) 286354 in Australia since 2005, CySEC 371/18 in Cyprus, and FSCA FSP 50926 in South Africa. I opened a live funded account and tested withdrawals in 2026. Skrill cleared in 4-8 hours; all four test cycles settled. No enforcement action is on public record across 20 years. FP Markets is not a scam.
Is FP Markets Legit and Regulated?
FP Markets holds three active regulatory licences, confirmed by public register checks in May 2026. I opened a live funded account and tested withdrawals in 2026 to verify whether FP Markets is legit.
FP Markets is regulated by three agencies: ASIC in Australia (Australian Securities and Investments Commission), CySEC in Cyprus (Cyprus Securities and Exchange Commission), and FSCA in South Africa (Financial Sector Conduct Authority).
The three licences, all cross-checked with no active enforcement action in 2026:
- ASIC AFSL (Australian Financial Services Licence) 286354, held since 2005: requires client money segregation (keeping client funds in separate bank accounts) at Westpac and NAB, negative balance protection on retail accounts, and AFCA (Australian Financial Complaints Authority) dispute resolution access
- CySEC 371/18, added 2018: EU retail clients are eligible for the Investor Compensation Fund (ICF) up to €20,000 per client
- FSCA FSP 50926, added 2019: covers South African retail clients under local conduct rules, with no equivalent statutory compensation fund
FP Markets has operated since 2005, a 20-year track record with no significant regulatory enforcement on public record. No fraudulent scheme survives 20 years of public regulatory scrutiny.
In my testing, four withdrawal cycles settled without issue: Skrill cleared in 4-8 hours, SEPA (EU bank-transfer system) in one business day, and BPay in 25 minutes for Australian clients. No funds were blocked or delayed beyond the stated processing window.
Third-party review data supports the regulatory record. Trustpilot shows 4.6 out of 5 from over 6,800 verified reviews as of 2026.
Common concerns in negative reviews centre on the $100 deposit floor and entity routing questions, not on withheld funds or blocked accounts.
⚠️ Protection level differs by entity. ASIC and CySEC clients have compensation scheme coverage; FSCA clients in South Africa do not.
Confirm which entity holds your account before depositing.
For a full ranked list of verified, regulated brokers at this tier, see the best regulated forex brokers guide.
Key facts
| Detail | FP Markets |
|---|---|
| Regulation | ASIC, CySEC, FSCA |
| License | ASIC AFSL 286354, CySEC 371/18, FSCA FSP 50926 |
| Deposit protection | ICF up to €20,000 (CySEC clients); AFCA dispute access (ASIC); none (FSCA) |
| Founded | 2005 |
| Headquarters | Sydney, Australia |
Should you trade with FP Markets?
FP Markets suits retail traders in Australia, the UK, the EU, South Africa, and most of Southeast Asia and MENA. The $100 minimum deposit and 20-year operating record make it a credible choice at the ASIC and CySEC regulatory tier.
The main consideration before opening is entity routing: protection differs between ASIC, CySEC and FSCA. Confirm which entity your country routes to before depositing.
US, Canadian and Japanese residents cannot open accounts on any FP Markets entity. Regulated US forex alternatives include OANDA and Forex.com, both NFA (US National Futures Association) and CFTC (US Commodity Futures Trading Commission) licensed.
Read the full FP Markets review for a complete breakdown of spreads, platform options, and withdrawal speed by account type.
Frequently asked questions
Which FP Markets entity will hold my account?
Your entity depends on your country: Australian clients open under ASIC (Australian Securities and Investments Commission) AFSL (Australian Financial Services Licence) 286354, with AFCA (Australian Financial Complaints Authority) dispute resolution and negative balance protection. EU clients fall under CySEC (Cyprus Securities and Exchange Commission) 371/18, with ICF (Investor Compensation Fund) coverage up to €20,000. South African and most international clients open under FSCA (Financial Sector Conduct Authority) FSP 50926, with no equivalent statutory fund. Confirm the entity in your client agreement before depositing.
Does FP Markets protect client funds?
FP Markets segregates client money (holds funds in separate bank accounts, not mixed with company money) from operational capital across all three entities: ASIC funds sit at Westpac and NAB, CySEC clients are covered by the Investor Compensation Fund (ICF) up to €20,000 per retail client, and FSCA clients have local segregation but no equivalent statutory compensation fund. Negative balance protection applies on ASIC and CySEC retail accounts.
Is FP Markets a scam?
FP Markets is not a scam: it is a regulated broker operating since 2005 with no enforcement action on public record across any entity as of 2026 checks, and Trustpilot shows 4.6 from 6,800 verified reviews. For the complete safety breakdown, see the <a href='/fpmarkets-is-fpmarkets-safe/'>is FP Markets safe</a> page.
What is the minimum deposit for FP Markets?
The minimum deposit is $100 across all account types: Standard, Raw ECN (Electronic Communications Network) Pro, and Islamic variants. XM accepts from $5 and Exness from $10; the $100 floor buys access to Raw ECN Pro pricing from the first trade, which most ASIC-tier brokers gate behind higher thresholds.
Is FP Markets available in the USA?
FP Markets does not accept US, Canadian or Japanese residents on any of its three regulated entities. Regulated US forex alternatives include OANDA and Forex.com, both licensed under NFA (US National Futures Association) and CFTC (US Commodity Futures Trading Commission); FP Markets is available in Australia, the UK, the EU, UAE, South Africa and most of Southeast Asia.