Founded 2005
FP Markets review: Raw ECN pricing, Iress shares and MetaTrader
Our FP Markets review centres on one trade-off, because the Australian broker splits its cheap forex pricing from its huge share list. Forex traders get a Raw ECN account near 0.9 pips all-in on MetaTrader, while the 10,000 share CFDs sit on a separate Iress platform with its own fees.
Updated . Checked against the broker's own pages, regulator registers and published reviews.
Standard vs Raw ECN pricing at FP Markets
FP Markets keeps forex pricing simple: pay in the spread on Standard, or pay a commission on Raw ECN. Standard averaged 1.3 pips on EUR/USD, and Raw ECN came to 0.9 pips all-in data. Those figures date from October 2025, so live quotes will have moved.
In money terms, one EUR/USD lot costs about USD 13 on Standard and about USD 9 on Raw ECN. Over 25 lots a month the saving reaches USD 100, which makes Raw ECN the default for regular traders. Beginners placing a few micro lots can stay on Standard and ignore the commission line entirely.
- Minimum deposit
- USD 0
- EUR/USD average
- 1.3 pips
- Raw all-in EUR/USD
- 0.9 pips
- Platforms
- 2
- Founded
- 2005
FP Markets licences, including Kenya's CMA
The CMA in Kenya lists FP Markets Limited under licence number 193, and that is the licence we can confirm directly from a regulator's register. Published tables count 2 Tier-1, 1 Tier-2 and 2 Tier-4 licences across the group, with Australia as the home market since 2005.
Your country of residence decides which company opens your account. The Kenyan company covers clients it onboards in Nairobi, while one in Lagos or Accra lands with another group company and different protection. FP Markets reports that 89% of retail CFD accounts lose money, one of the higher figures among the brokers we cover.
| Regulator | Licensed entity | Licence no. | Register |
|---|---|---|---|
| CMACapital Markets Authority, Kenya | FP Markets Limited | Look up |
MT4, MT5 and cTrader tools at FP Markets
MetaTrader is the best-served route at FP Markets. You get the full MT4 and MT5 suite, Autochartist, FX Blue add-ons and the Trader Toolbox, and TradeMedic now reviews your past MetaTrader trades using AI analytics. The broker also supports cTrader and recently added TradingView for chart-led traders.
The in-house FP Markets app looks tidy but has few advanced tools, so most serious users keep the MT5 or cTrader app on their phone. Other MT4 brokers offer similar pricing, though few match this tool set at the same cost. Algorithmic traders will find everything they need on MT5.
- Demo account
- Copy trading
10,000 share CFDs on Iress, 764 symbols on MT5
The headline 10,000-symbol total applies to Iress, a share platform with Direct Market Access pricing and full depth of book. MT5 shows 764 symbols, and the core forex lineup covers 71 pairs alongside metals, indices and a small set of crypto CFDs.
Iress is built for active traders holding high balances, and its platform and data fees add up for anyone else. A retail trader funding USD 200 gets better value staying on MT5.
Share traders with larger accounts get real order-book access here, which few forex-first brokers provide at any price. Crypto is CFD-only, so you never hold the coin itself.
- Licences by tier 1, 2, 3, 4
- 2, 1, 0, 2
- Tradeable symbols
- 10000
- Forex pairs
- 71
- Listed company
- No
- Bank
- No
- Android app
- Yes
- iOS app
- Yes
- Chart indicators
- 30
- Trading Central
- Yes
- Autochartist
- Yes
- Webinars
- Yes
- Crypto CFDs
- Yes
- US shares
- No
- Global shares
- No
FP Markets minimum deposit and payment routes
Reported figures list a USD 0 minimum at FP Markets, so the real floor is whatever your payment method and position size need.
To hold one micro lot of EUR/USD at 1:30 margin, you would want at least USD 50 in the account, and more for any drawdown. The margin calculator shows the amount for your own leverage.
Published funding options include bank wires, PayPal and Skrill. Kenyan and Nigerian traders should look at wire and e-wallet charges together, because a USD 25 bank fee on a USD 200 deposit removes over 12% of your starting capital. Withdrawal routes follow the same channels and the entity holding your account.
Is FP Markets right for you?
This FP Markets review lands on a clear yes for MetaTrader forex traders who care about cost. Raw ECN pricing, deep platform add-ons and a Kenyan licence make a strong case. MetaTrader is its strongest area, and its tools back that up.
It suits share traders only at high balances, because Iress fees punish small accounts. Beginners get thin research and limited education, so brokers built for beginners serve them better. For a wider view, the main forex broker ranking sets FP Markets against Exness, HFM and XM.
Where FP Markets is strong
- Raw ECN account near 0.9 pips all-in on EUR/USD
- MT4, MT5, cTrader and TradingView for forex and CFDs
- CMA licence 193 in Kenya through FP Markets Limited
- TradeMedic analytics review your past MetaTrader trades
Where it falls short
- Iress data and platform fees bite below high balances
- MT5 carries 764 symbols, far short of the Iress list
- In-house mobile app lacks advanced charting
- Research and education trail the category leaders
FP Markets, quick answers
Does FP Markets have a minimum deposit?
Independent reviews list USD 0, so no fixed account floor applies. Your payment method sets its own minimum, and you still need enough margin to hold a trade. Most small traders start with USD 100 to USD 200 to survive a normal drawdown.
Is FP Markets regulated in Kenya?
Yes. The Capital Markets Authority register lists FP Markets Limited under licence number 193. That licence covers clients it onboards in Kenya, while residents of other African countries get a different group company with different protection.
What is Iress at FP Markets?
Iress is a separate share-trading platform with Direct Market Access and full depth of book. It holds over 10,000 share CFDs and charges platform and data fees, which suits active, high-balance traders and few retail forex accounts.
Can you use TradingView with FP Markets?
Yes. FP Markets added TradingView alongside MetaTrader and cTrader. Its cheapest forex pricing is tied to MetaTrader, so compare the commission on your chosen platform before moving your account across to TradingView.