20-year Australian broker with a huge instrument catalogue and tight raw spreads, plus a compliance flag worth reading before you sign up.
First Prudential Markets, trading as FP Markets, has been operating since 2005 out of Sydney, Australia, a 20-year track record that puts it among the more established brokers we cover. Its core entities are regulated by ASIC (AFS licence 286354) and CySEC (with the Cyprus entity independently confirmed on CySEC's own public register), alongside FSCA in South Africa and a Seychelles FSA entity.
Before signing up, read this part carefully: the compliance monitoring site Fintelegram placed FP Markets on its "Orange Compliance List," alleging that EU clients were being systematically redirected to an unregulated offshore entity registered in St Vincent & the Grenadines (a jurisdiction that doesn't license forex/CFD brokers at all), in a pattern that would circumvent ESMA's leverage and protection rules. This doesn't mean the regulated AU/EU entities aren't legitimate, but it does mean you should confirm exactly which legal entity you'd be onboarded to before depositing.
The Standard account carries a headline EUR/USD spread in the roughly 0.5–1.1 pip range depending on source, with no per-lot commission. The Raw account is considerably tighter: recent testing puts its EUR/USD average around 0.06 pips, plus a $3 per lot, per side commission, putting it among the most competitive raw-pricing options we cover.
FP Markets offers the broadest platform lineup on our list: MT4, MT5, cTrader, and Iress (for share trading), plus TradingView integration. This breadth pays off if you want to compare platforms rather than being locked into MetaTrader alone.
FP Markets earns its ranking on genuine strengths (platform breadth, tight raw pricing, and a long track record), but the Fintelegram compliance flag is real and worth taking seriously. Before depositing, explicitly confirm you're being onboarded to the ASIC or CySEC-regulated entity rather than the unregulated St Vincent one, and don't assume the broader brand's regulation automatically applies to your specific account.