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FP Markets Account Types Editor’s Verdict
FP Markets offers Standard and Raw account types, via upgraded MT4/MT5 platforms. An unlimited demo account is also available, as is a swap-free Islamic account.
The broker also offers trading via the Iress platform, though this is geographically restricted. So, this FP Markets account types review focuses on the MetaTrader accounts, as these are available to all traders.
My verdict: Both the Standard and Raw account types offer the exact same minimum deposit, leverage ratio, platform access, and execution quality. However, the Raw account has significantly lower trading costs, clearly delivering better value for traders.
FP Markets Account Types at a Glance
Account Type | Min Deposit | Average Spread (EUR/USD) | Commission | Best For |
Standard | $100 | ~1.0 pip | None | Beginners/ casual traders who prefer all-in pricing |
Raw | $100 | 0.0 pips | $6.00 per lot (round trip) | Active traders, scalpers, algo traders |
Islamic Standard | $100 | ~1.0 pip | None(admin fee applies) | Swap-free trading |
Islamic Raw | $100 | 0.0 pips | $6.00 + admin fee | Active Islamic traders |
Demo | $0 | Simulated | None | Strategy testing & education |
Sign Up | Open Account | Open Account | Open Account | Open Account |
FP Markets Account Types Overview
Traders can pick between a commission-free Standard account and a commission-based Raw account. Since the FP Markets minimum deposit is $100 for both account types, and trading conditions are identical except for trading costs, where the commission-based alternative is up to 66%+ cheaper, the best account type at FP Markets is the Raw account.
Available Trading Platforms
MT4 and MT5 accounts are available globally for both Standard and Raw accounts and form the core of FP Markets’ retail offering. In contrast, the Iress platform is geographically restricted and does not support Islamic accounts.
- MetaTrader 4: Forex-focused, lightweight, ideal for EAs
- MetaTrader 5: Adds 1,000+ equity CFDs and ETFs
- Iress: An equities-focused trading platform
Below is an introduction to the FP Markets account types, which will help you pick the most suitable choice for your circumstances and strategy.
FP Markets Standard Account
The commission-free FP Markets Standard account is available for MT4 and MT5. The pricing environment starts from 1.0 pips or $10.00 per 1.0 standard lot, making it a the more costly option. It fully supports algorithmic trading and copy trading. Negative balance protection is available, and Islamic accounts are supported.
FP Markets Raw Account (Recommended)
The FP Markets Raw account is the commission-based alternative, featuring identical trading conditions to the Standard account, except for the pricing environment, where traders get raw spreads from 0.0 pips for a commission of $6.00 per 1.0 standard lot. The competitive FP Markets fee structure, high leverage, and excellent order execution make it an ideal choice for algorithmic traders and scalpers. The only potential improvement would be the addition of a volume-based rebate program.
Our take: ThevFP Markets Raw account is the better option for most, and an excellent choice for algorithmic traders, scalpers, and those implementing high-frequency strategies.
FP Markets Account Features
The two FP Markets account types are identical, except for pricing - the commission-based Raw account offers lower trading costs than the commission-free Standard option. There is also a difference between trading platform choices; MT4 caters to Forex traders while MT5 adds 1,000+ equity CFDs and ETFs.
Let’s take a closer look at the key features of each of the FP Markets account types:
FP Markets Standard Account Features
The commission-free Standard account wraps all costs into the spread. While this simplifies pricing, it comes at a noticeable premium.
Feature | Details |
Minimum Deposit | $100 |
Spreads | From 1.0 pips |
Commission | None |
Max Leverage | 1:500 |
Execution | Market maker with ECN pricing |
Platforms | MT4, MT5 |
Instruments | FX, indices, commodities, crypto CFDs |
EAs & Scalping | Allowed |
VPS | Available |
Mobile Trading | Yes |
Sign Up | Open Account |
Standard Account Highlights
- Upgraded MT4/MT5 trading platforms
- Full support for algorithmic trading, including VPS hosting
- Proprietary copy trading service alongside embedded MT4/MT5 solutions
- Account management via MAM/PAMM accounts
- Minimum deposit of $100 or a currency equivalent
- 11 account base currencies & 42 deposit currencies from 22 payment processors
- Commission-free, with spreads from 1.0 pips or $10.00 per standard round lot
- Maximum Forex leverage of 1:500
- Minimum trade size of 0.1 lots
- 60+ currency pairs, commodities, and indices
- Islamic account availability
- Market maker order processing with ECN pricing
- No inactivity fees
FP Markets Raw Account Features
The Raw account offers institutional-style pricing with tight spreads and a transparent commission. It is clearly FP Markets’ flagship offering.
Feature | Details |
Minimum Deposit | $100 |
Spreads | From 0.0 pips |
Commission | $6.00 per lot (round turn) |
Max Leverage | 1:500 |
Execution | ECN |
Platforms | MT4, MT5 |
Instruments | FX, indices, commodities, crypto CFDs, equities |
EAs & Scalping | Fully supported |
VPS | Available |
Mobile Trading | Yes |
Sign Up | Open Account |
A clear winner: Lower costs, fast execution, and excellent suitability for high-frequency and automated strategies.
Raw Account Highlights
- Upgraded MT4/MT5 trading platforms
- Full support for algorithmic trading, including VPS hosting
- Proprietary copy trading service alongside embedded MT4/MT5 solutions
- Account management via MAM/PAMM accounts
- Minimum deposit of $100 or a currency equivalent
- 11 account base currencies & 42 deposit currencies from 22 payment processors
- Commission-based, with spreads from 0.0 pips or and a commission of $6.00 per standard round lot
- Maximum Forex leverage of 1:500
- Minimum trade size of 0.1 lots
- 60+ currency pairs, commodities, and indices
- 1,000+ equity CFDs with commissions between 0.10% and 0.20% and minimum costs between $4.00 and $12.00
- US ETFs at $0.03 per share and a minimum fee of $4.00
- Islamic account availability
- ECN order processing with ECN pricing
- No inactivity fees
FP Markets Demo Account
Traders can open an FP Markets demo without registering for a live account and the practice account has no time limit. The broker uses MT4/MT5 demo services, which support account balance and leverage ratio customization. So, for the sake of realism, traders should select a nominal balance amount, the matches the sum they plan to deposit.
The demo account mirrors the trading platform’s functionality, but traders should keep in mind that no practice account can ever fully replicate the execution conditions or the psychological experience of trading with real money, which can promote unrealistic trading expectations.
While it does not expose traders to all the realities of live trading, the FP Market demo account is an excellent tool for testing EAs and indicators, evaluating strategies, becoming familiar with platform functionality, and honing trading skills.
FP Markets Islamic Account
The broker provides FP Markets Islamic accounts, on both Standard and Raw structures upon request. In place of swaps, FP Markets applies an administration fee, which Muslim traders should review carefully.
To request an Islamic account option, traders must open a live MT4 or MT5 trading account and then contact FP Markets customer support.
Muslim traders should keep in mind that the question of whether a swap-free structure complies with Islamic finance principles depends on individual interpretation. Traders are encouraged to consult a qualified religious authority.
FP Markets: The Broker at a Glance
Headquartered in Australia, FP Markets stands out as a highly competitive global broker, offering raw spreads, high leverage, and fast order execution. It is backed by solid regulation, providing excellent platform support for algorithmic and copy trading, as well as a transparent fee structure with no hidden costs.
Category | Details |
Founded | 2005 |
Regulation | ASIC, CySEC, FSCA |
Min Deposit | $100 |
Platforms | MT4, MT5, Iress |
Leverage | Up to 1:500 |
Inactivity Fee | None |
Copy Trading | Yes |
VPS | Yes |
Pros and Cons of FP Markets Account Types
Pros of FP Markets Account Types | Cons of FP Markets Account Types |
|---|---|
Competitive trading costs in the commission-based account | Higher trading costs in the commission-free account |
Excellent order execution and high leverage | Unclear if Standard account presents an identifiable benefit |
Eleven account base currencies | |
22 payment processors and 42 deposit currencies |
Bottom Line
FP Markets offers two account types, a commission-free Standard and a commission-based Raw option. The trading conditions are identical, aside from trading costs, making the more expensive Standard account obsolete. So, when it comes to FP Markets Raw vs. Standard accounts, the decision is straightforward - choose the Raw account.
FP Markets leverage is more than adequate, there are no inactivity fees, and traders benefit from excellent order execution, making this broker ideal for algorithmic traders and scalpers. The FP Markets account types support 11 account base currencies and 42 deposit currencies from 22 payment processors. Islamic accounts are also available, as are demo accounts which have no expiry.
Overall, FP Markets proves its worth as a cost-efficient, flexible and reliable, trader-focused broker that delivers where it matters.
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FAQs
How can I open a demo account at FP Markets?
To open a demo account with FP Markets, visit their website, complete the registration form, select the demo account, and customize the settings. Then, verify your profile, and you will receive log in details for the demo account enabling you to get started.
How can I open an FP Markets live account?
Open and complete the FP Markets five-step online application form. Account verification is mandatory, which follows established industry standards for regulated brokers.
What is FP Markets' Pro Account?
The FP Markets Pro account exists for UK and EEA resident traders, which offers identical trading conditions to those which traders resident in other jurisdictions receive. Given restrictive regulatory changes in the EU in 2018, brokers catering to traders from the region were incentivized to split their offers and relocate to business-friendly jurisdictions.
Does FP Markets offer an Islamic account?
FP Markets offers an Islamic account for the MT4 and MT5 trading platforms but not for its geographically restricted Iress platform.
Does FP Markets offer a raw account?
FP Markets offers its commission-based Raw account for a minimum deposit of $100. It has a competitive cost structure of 0.0 pips spreads for a commission of $6.00 per round lot.
Does FP Markets offer a bonus account?
No, FP Markets had promotional campaigns in the past for qualifying traders but presently lists none.
Which account type is best for FP Markets?
The commission-based Raw account is the best option at FP Markets, as it offers identical trading conditions to the commission-free Standard option but has significantly lower trading costs. The FP Markets minimum deposit is $100 for each.
Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.