Trade smarter. Forex & gold.FP Markets review (for Canadian traders)
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FP Markets is a large CFD and forex broker founded in Sydney, Australia, in 2005. It runs a Canadian website, offers MT4, MT5, cTrader and TradingView, and allows Expert Advisors, scalping and hedging, with high leverage (varies by region and account). It isn't registered in Canada, and its Canada site is run by a company registered in Saint Lucia, not by one of the group's regulated companies. Here are the facts from FP Markets' own site, worked costs, and how to check it yourself.
Key takeaways
- FP Markets isn't registered with CIRO or any Canadian regulator, so CIPF and Canadian complaint services don't apply.
- Its Canada site is operated by FP Markets Ltd (Saint Lucia). Group companies are licensed by ASIC, CySEC, the FSCA, the FSA Seychelles and the CMA Kenya.
- Standard accounts: spreads from 1.0 pips, no commission. Raw accounts: from 0.0 pips plus US$3 per lot per side (CAD 3.50 on CAD accounts).
- MT4, MT5 and cTrader are offered, with TradingView on Raw accounts; EAs are allowed.
- We couldn't confirm on FP's own site that Canadians are accepted, so check the country list at sign-up.
FP Markets at a glance
Who you'd be dealing with
FP Markets' Canadian website says it is operated by FP Markets Ltd, a company registered in Saint Lucia (registration 2025-00853). The site describes it as registered, not as licensed by a regulator. The wider group lists these regulated companies:
| Company | Regulator |
|---|---|
| First Prudential Markets Pty Ltd | ASIC, Australia (AFS licence 286354) |
| First Prudential Markets Limited | Financial Services Authority, Seychelles (licence SD130) |
| FP Markets (Pty) Ltd | FSCA, South Africa (FSP 50926) |
| Group companies in Cyprus and Kenya | CySEC; Capital Markets Authority, Kenya |
FP Markets says it keeps client funds in segregated accounts. It isn't registered with CIRO or any Canadian provincial regulator. Search the Canadian warning lists yourself before you open an account (see below).
Fake “FP Markets” websites: how to spot them
Scammers copy the names of real brokers. They build look-alike websites, send links by WhatsApp, Telegram or social media, and take deposits that are never seen again. The real FP Markets has nothing to do with these sites, but if you send money to one, the real broker can't help you get it back.
Regulators and FP Markets itself have flagged websites that use the FP Markets name, or pretend to be its companies:
- The UK's Financial Conduct Authority warned on November 29, 2022 about an unauthorised firm called “FPMARKETSTRADE / FP MARKETS TRADE” at fpmarketstrade.com (FCA warning).
- Australia's ASIC listed two sites as “Impersonation of First Prudential Markets Pty Ltd” (FP Markets' Australian company): afexmarketsltd.com on February 6, 2026 and pglobalinv.com on February 27, 2026, as shown on the international regulators' alert network (IOSCO I-SCAN search).
- FP Markets' own announcements page warns about fake domains using its name and licence, including fpquantumai.pro and fpquantumai.net (May 21, 2025), oakwell.finance (March 20, 2025), bivaltofx.com (January 22, 2025), one-fxpro.com (September 24, 2024) and fpmespana.com with emails from fpmarketpro.net (June 27, 2024) (FP Markets announcements).
For Canadians, FP Markets' site is fpmarkets.com/en-ca. Any other spelling, or an address with extra words in it, isn't FP Markets.
How to stay on the real site
- Type the address yourself (www.fpmarkets.com) and bookmark it. Use the bookmark every time.
- Don't click links in ads, direct messages, WhatsApp or Telegram, even if the person seems friendly or claims to be an account manager.
- Check the company name at the bottom of the site and in your client agreement, and match it to a licence on the regulator's own website.
- Never share your password or one-time code with anyone, and never let anyone “help” by taking control of your computer.
- If something feels wrong, stop. Contact the broker through the address you typed yourself, and report the fake site to your provincial securities regulator.
Standard vs Raw
| Standard | Raw | |
|---|---|---|
| Spreads | From 1.0 pips | From 0.0 pips |
| Commission (forex and metals) | None (built into the spread) | US$3 per lot per side; CAD 3.50, EUR 2.75, GBP 2.25 on those currency accounts |
| Commodities, indices, crypto | None | None |
| Platforms | MT4, MT5, cTrader | MT4, MT5, cTrader, TradingView |
| Max leverage | High (varies by region) | High (varies by region) |
| Minimum trade | 0.01 lot | 0.01 lot |
| EAs / VPS | Yes / Yes | Yes / Yes |
Islamic (swap-free) accounts and a demo account are also offered.
Costs, worked out
Raw on a CAD account
1.00 lot EUR/USD on a CAD account. Commission CAD 3.50 per side. Spread 0.2 pip = US$2. USD/CAD 1.3800.
Gold on Raw
0.10 lot of gold (10 oz at most brokers; check FP's contract size). Commission US$3 per lot per side applies to metals. Assume a $0.15 spread.
Compare your own numbers
For learning only. Brokers differ in contract sizes and rounding, so always check your broker's contract specification.
Leverage and margin
FP Markets offers high leverage on both account types; the maximum varies by region and account. Its own metals page explains that at its highest leverage the margin is 0.2% of the position value, and that a margin call comes when your equity falls below the margin needed, with a stop-out at 50% of initial margin.
Margin on 0.10 lot of gold at the maximum leverage (0.2% margin)
Gold at US$4,100. 0.10 lot = 10 oz = US$41,000.
On a $1,000 account, that ordinary $20 move is a 20% loss, even though the margin was only $82. Size from your stop. See risk management basics.
Platforms, EAs and copy trading
FP Markets offers MetaTrader 4, MetaTrader 5, cTrader and TradingView, on desktop, web and mobile. It allows EAs, scalping and hedging, so MT5 EAs, including ours, can run here. It also offers copy trading, where you can follow other traders' strategies from as little as $100.
Deposits and withdrawals
| What FP Markets' Canada site says | |
|---|---|
| Deposit methods | Credit cards, e-wallets (Neteller, Skrill), cryptocurrencies, bank wire and broker-to-broker transfers |
| Deposit time | Up to an hour |
| Deposit fees | No deposit fees using Skrill or Neteller (check other methods in the client portal) |
| Withdrawal methods | Bank wire, credit cards, crypto, e-wallets |
| Withdrawal time | Skrill and Neteller in one business day |
| Minimum deposit | No minimum deposit required, per its regulation and leverage pages |
Who it suits, and who it doesn't
| Might suit | Not for |
|---|---|
| MT5 or cTrader users who want Raw pricing | Anyone who wants Canadian protection (CIPF) |
| EA users who want a VPS option | US residents |
| Traders who understand the offshore trade-off | Beginners tempted by very high leverage |
US readers: in the US, retail forex dealers must be registered with the CFTC and be NFA members. Offshore brokers like this one are not, and generally don't accept US residents. See our Canadian and US regulated reviews instead.
Visit FP MarketsCompare: VT Markets, Eightcap, or the Canadian-regulated FOREX.com (which also offers MT5).
How to check this broker yourself
Offshore brokers aren't on Canadian registers, so checking them takes a little more work. Here is how to check FP Markets yourself in about fifteen minutes:
- Find the licence on the home regulator's own website, not on the broker's site:
- FSA Seychelles: search licence SD130.
- ASIC Connect: search AFS licence 286354 (Australian clients only).
- FSCA South Africa: search FSP 50926.
- Check which company holds your account. FP Markets' Canada site is run by FP Markets Ltd (Saint Lucia), and the group's regulated companies include First Prudential Markets Limited (FSA Seychelles, SD130). Your client agreement names the company that holds your money. Make sure it matches a licence you found in step 1.
- Search Canadian warnings. Check the BCSC Investment Caution List, the CSA investor alerts (including AMF alerts), the OSC investor warnings and the CSA's registration search.
- Read the bonus and withdrawal terms before you accept any bonus. Bonus credit often has conditions and can be removed.
- Test a small withdrawal early, before you add more money. A broker that pays out smoothly at the start is a good sign; delays are a warning.
Common mistakes
- Assuming ASIC rules protect you. Check which company your agreement names.
- Comparing only 'from' spreads. Add commission and compare total cost.
- Using the full leverage available. Size from your stop.
- Not checking Canada at sign-up. Confirm Canada is in the country list.
- Depositing a lot before a test withdrawal. Withdraw a small amount first.
- Assuming CIPF covers you. It doesn't, for offshore brokers.
- Following a link someone sent you. Type fpmarkets.com yourself; look-alike sites exist.
Printable checklist
- I typed fpmarkets.com/en-ca myself and bookmarked it.
- I confirmed Canada is accepted on the sign-up form.
- I know which FP Markets company holds my account.
- I checked that company's licence on the regulator's own site.
- I searched Canadian warning lists.
- I compared Standard and Raw costs for my typical trade.
- I asked support about withdrawal fees in writing.
- I size trades from my stop.
- I made a small test withdrawal.
Frequently asked questions
Is FP Markets regulated in Canada?
No. It isn't registered with CIRO or a Canadian provincial regulator. Its Canada site is run by FP Markets Ltd, registered in Saint Lucia; other group companies are licensed by ASIC, CySEC, the FSCA, the FSA Seychelles and the CMA Kenya.
Does FP Markets offer MT5?
Yes, plus MT4, cTrader and TradingView. EAs, scalping and hedging are allowed.
What does an FP Markets Raw account cost?
Spreads from 0.0 pips plus US$3 per lot per side (US$6 round trip), or CAD 3.50 per side on a CAD account.
What leverage does FP Markets offer?
High leverage on Standard and Raw accounts; the maximum varies by region and account.
Are there fake FP Markets websites?
Yes. The UK FCA warned about fpmarketstrade.com in 2022, ASIC listed pglobalinv.com and afexmarketsltd.com as impersonating FP Markets' Australian company in 2026, and FP Markets lists other fake domains on its announcements page. Type fpmarkets.com yourself.
Is there a minimum deposit?
FP Markets' Canada site says no minimum deposit is required.
Sources and further reading
- FP Markets Canada: account types
- FP Markets Canada: MT4/MT5 fees and charges
- FP Markets Canada: regulation
- FP Markets Canada: metals (margin example)
- FP Markets Canada: deposits
- FP Markets Canada: withdrawals
- FP Markets Canada: home page (company information)
- FP Markets: service regions
- FCA warning: FPMARKETSTRADE / FP MARKETS TRADE (Nov 29, 2022)
- IOSCO I-SCAN: ASIC impersonation alerts (First Prudential Markets)
- FP Markets: announcements of fake domains
This guide is general education, not financial advice. Broker terms differ; always check your own broker's contract specifications.