FP Markets

FP Markets is an Australian-registered retail forex and CFD broker, operating under the official domain fpmarketsasia.com. The broker was founded on 27 March 2020, making it a relatively new entrant in the online trading space. It is regulated by the Australian Securities and Investments Commission (ASIC), one of the most respected financial regulators globally.

Despite its ASIC licence, FP Markets carries a high FXCanary Scam Risk Score of 85/100, indicating significant caution is warranted. The broker’s regulatory status is positive, but the absence of substantial independent public information or user reviews limits the ability to fully assess its operational integrity. Traders are advised to conduct thorough due diligence before engaging with this broker.

FP Markets holds an ASIC licence classified as Market Making (MM), which permits the broker to act as a principal in trades with clients. ASIC regulation imposes strict requirements on capital adequacy, client fund segregation, and reporting standards. However, the licence status is marked as '—' in our records, which may indicate that further verification is needed.

The ASIC regulation applies to the Australian entity, and the broker’s target market appears to be retail clients in Asia given the domain fpmarketsasia.com. This geographical focus suggests the broker may not cater to Australian residents directly, potentially limiting the protective reach of ASIC’s oversight. Traders should confirm the specific legal entity and jurisdiction applying to their account.

FP Markets offers two main account types: Standard and ECN. Both require a minimum deposit of $100 AUD or equivalent, making the broker accessible to retail traders with modest capital. The Standard account is typically designed for beginners or those who prefer fixed spreads, while the ECN account offers tighter spreads with a commission per trade.

Maximum leverage is set at 500:1 for both account types, which is very high and amplifies both potential gains and risks. Such leverage levels are unusual under ASIC regulation, which normally caps leverage for retail clients at 30:1 for major currency pairs. This discrepancy suggests that the broker may operate under a different regulatory framework or offer offshore entities. Traders should clarify the exact leverage applicable to their jurisdiction.

The broker provides over 50 currency pairs, along with precious metals, indices, and commodities, covering a broad range of CFD markets. This product range is typical for a retail forex broker aiming to cater to diverse trading strategies. However, no specific trading platforms (e.g., MetaTrader 4/5, cTrader) are mentioned in the records, so the platform offering remains unconfirmed.

Without verified platform information, traders cannot assess execution quality, charting tools, or automated trading capabilities. This gap in known facts further underscores the need for caution. We recommend contacting FP Markets directly to confirm platform availability before opening an account.

The minimum deposit of $100 AUD or equivalent suggests the broker is open to small-scale traders, but specific payment methods (e.g., bank transfer, credit card, e-wallets) are not documented in our records. Similarly, withdrawal policies, processing times, and fees are unknown.

Incomplete funding details represent a significant information gap. Delays or difficulties with withdrawals are common complaints among unregulated or poorly documented brokers. Prospective clients should seek clear, written policies on deposits and withdrawals before committing funds. The high scam risk score further emphasises the need for verification.

FP Markets maintains a presence on major social media platforms including Facebook, Instagram, LinkedIn, Twitter/X, and YouTube. This may suggest an effort to engage with traders and provide educational content. However, the quality and consistency of this engagement are not assessed here.

Customer support channels (live chat, phone, email) are not documented in our records. Reliable customer support is critical for resolving issues, especially for retail traders. The lack of support information adds to the overall uncertainty surrounding this broker. Traders should test support responsiveness before depositing.

FP Markets appears to target retail forex and CFD traders, particularly those in Asia given the fpmarketsasia.com domain. The low minimum deposit and high leverage appeal to inexperienced traders looking to start small with large potential returns. However, these same features also attract risk-tolerant speculators.

The broker is likely unsuitable for conservative traders or those prioritising safety over leverage. The combination of a recent establishment, limited public information, and a high scam risk score means FP Markets is best approached with extreme caution, if at all. We recommend considering more established and well-reviewed alternatives.