FP Markets Review 2026
Full FP Markets review for South Africa traders — regulation, spreads, fees and our honest verdict.
Regulation in South Africa
| Regulator | FSA FSA — Seychelles Financial Services Authority (FSA) |
| Licence Number | SD026 |
| Regulated Entity | First Prudential Markets Ltd |
| Max Leverage (Forex) | 1:500 |
| Minimum Deposit | $100 |
| EUR/USD Spread | From 0.0 pips (ECN/Raw) |
| Instruments | 10,000+ |
| Platforms | MT4, MT5, cTrader, TradingView, IRESS |
| Copy Trading | ✗ |
| Real Stocks | ✓ |
| Inactivity fee | No inactivity fee |
Verdict
Regulated by FSA (licence SD026). Minimum deposit $100. In South Africa: maximum forex leverage 1:500.
About FP Markets
FP Markets was founded in 2005 and is headquartered in Sydney, Australia. The broker offers 10,000 tradeable instruments including forex pairs, CFDs on stocks, indices and commodities. It is regulated across multiple jurisdictions with a primary licence held by First Prudential Markets Ltd under FSA.
In South Africa, FP Markets operates as First Prudential Markets Ltd, authorised by FSA under licence number SD026. South Africa traders are subject to a maximum leverage of 1:500 on forex pairs under FSA rules.
Trading Platforms
Pros
- FSA regulated — licence SD026
- 10,000+ instruments to trade
- Negative balance protection in South Africa
- Platforms: MT4, MT5, cTrader, TradingView, IRESS
- Real stock ownership (not CFD)
Cons
- No inactivity fee
- 74.2% of retail clients lose money
- CFD trading — you do not own the underlying asset
Key Facts About FP Markets
- Australian broker founded 2005, ASIC-regulated, consistently wins ECN/STP awards
- Average EUR/USD raw spread of 0.0 pips — one of lowest raw spreads in industry
- Access to Iress ViewPoint platform alongside MT4/MT5 — rare retail access to professional platform
Known Limitations
- Primarily Australian-focused — international support can be slower
- Limited research and analysis content compared to global brokers
- Crypto CFDs not available on Australian-entity accounts
Frequently Asked Questions
Is FP Markets regulated?
FP Markets holds FSA licence SD026, issued to the regulated entity {entity}. This is a real, verifiable licence recorded in the official FSA public register.
What is the minimum deposit for FP Markets in South Africa?
The minimum deposit is $100. This is the amount required to open a live trading account for traders in South Africa under FSA regulation.
What leverage does FP Markets offer in South Africa?
In South Africa, FP Markets offers maximum forex leverage of 1:500 under FSA rules. Higher leverage may be available through offshore-regulated entities.
Is FP Markets safe to trade with?
FP Markets is regulated by FSA, which requires segregated client funds, negative balance protection and independent audits. Regulation does not eliminate trading risk, but it provides meaningful investor protection.
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