FP Markets review
Details checked 27 Sept 2026. Always confirm current terms on the broker's site.
Our verdict
FP Markets is a long-running Australian broker offering low-cost raw gold pricing across MetaTrader, cTrader and TradingView. International clients, including Indian residents, are onboarded through its Seychelles entity.
FP Markets was founded in Sydney in 2005, making it one of the older retail CFD brokers in this comparison. It holds Tier-1 licences from ASIC and CySEC and additional licences in South Africa, Kenya, Mauritius and the Seychelles. International clients, including Indian residents, are onboarded via the Seychelles entity, which offers higher leverage but no compensation scheme. For gold, FP Markets offers a Standard account with no commission and a Raw account with spreads from zero plus $3 per lot per side. BrokerChooser measured its XAUUSD spread at $0.07 in September 2026, and DailyForex reports a $0.16 average. Gold can be traded on MT4, MT5, cTrader and TradingView, as well as the Iress platform in some regions, from 0.01 lots. The minimum deposit is about $100 (AUD 100 per ForexBrokers.com). Retail clients get negative balance protection and segregated funds, and swap-free accounts are available. ForexBrokers.com reports UPI and Netbanking funding for Indian clients, though BrokerChooser disagrees, so this should be checked directly. FP Markets is on the RBI Alert List, which Indian readers should weigh before opening an account.
Pros
- Low raw gold spreads with a $6 round-turn commission
- Wide platform choice: MT4, MT5, cTrader, TradingView
- Tier-1 ASIC and CySEC licences in the group
- Reported UPI/Netbanking funding for Indian clients
- Nearly 20-year operating history
Cons
- Indian and most international clients are onboarded offshore (Seychelles)
- Mobile app lacks advanced charting
- Reported India funding methods conflict between sources
- Listed on the RBI Alert List
Key facts
| Founded | 2005 |
|---|---|
| Headquarters | Sydney, Australia |
| Regulators | ASIC (First Prudential Markets Pty Ltd) (Tier-1); CySEC (First Prudential Markets Ltd) (Tier-1); FSCA South Africa; CMA Kenya; FSA Seychelles; FSC Mauritius |
| Gold (XAUUSD) available | Yes |
| Gold spread, standard account | $0.16 average (DailyForex, Sep 2026; account type not stated) |
| Gold spread, raw/ECN account | From $0.00 on Raw (FxScouts); $0.07 per BrokerChooser XAU/USD spread benchmark, updated 17 Sep 2026, in USD per ounce |
| Commission, raw account | $3 per lot per side ($6 round turn) on Raw account |
| Max gold leverage (offshore entity) | Up to 1:500 (DailyForex); gold-specific offshore cap not confirmed on official site |
| Max gold leverage (Tier-1 entity) | 1:20 (ASIC/CySEC retail) |
| Minimum trade size | 0.01 lot |
| Platforms | MT4, MT5, cTrader, TradingView, Iress |
| Minimum deposit | $100 |
| Account types | Standard, Raw, Islamic (swap-free) |
| Indian deposit methods | UPI and rupee Netbanking via Seychelles entity (ForexBrokers.com India guide); BrokerChooser says no INR/UPI - conflicting |
| Accepts clients from India | Yes, via Seychelles entity (ForexBrokers.com and BrokerChooser, Sep 2026) |
| Negative balance protection | Yes for retail clients |
| Segregated client funds | Yes |
| Investor compensation | CySEC ICF up to EUR 20,000 (EU clients only) |
| Swap-free account | Yes |
| On RBI Alert List | Yes: 2025-11-19 (latest RBI update found; checked 2026-09-27) |
Member reviews
Sources used for this review
- forexbrokers.com/reviews/fp-markets
- brokerchooser.com/broker-reviews/fp-markets-review/xauusd-spread
- brokerchooser.com/broker-reviews/fp-markets-review/fp-markets-india
- dailyforex.com/forex-brokers/best-forex-brokers/gold-trading
- fxscouts.com/forex-brokers/best-gold-trading-brokers/
- forexbrokers.com/guides/india
- upstox.com/news/personal-finance/trading/rbi-alert-list-updated-full-list-of-unauthorised-
- completetradersedge.com/rbi-alert-list/
- au.bank.in/hi/hi/assets/banner-text-table/pdf/unauthorised-forex-transactions.pdf
We may earn a commission if you open an account through links on this page; it never changes the score. This review is Tradedge Pulse's opinion, not investment advice.