Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
5/10 · ModerateA genuine tier-one ASIC retail market-making licence plus CySEC, FSCA, Kenya CMA and Seychelles FSA entries, all clone-tested clean, offset by UK and UAE regulators publishing unlicensed-solicitation notices and an unsupervised offshore arm serving rest-of-world clients.
Identity & transparency
2/10 · LowEvery entity is named and verifiable, the Sydney address matches across ASIC, the business register and the company's own listings, and three regulators publish its domains; only the offshore restructuring is poorly explained to clients.
Withdrawals & conduct
6/10 · HighA genuine fund-integrity pattern of voided profits and delayed withdrawals with checkable amounts and dates in a July to October 2026 window, set against roughly 9,700 positive reviews, broker engagement with complaints, ombudsman access and no advance-fee demands.
Reputation
4/10 · ModerateNet positive overall at 4.8 across 10,341 Trustpilot reviews and 3.9 on TradingView, though the specialist foreign exchange forums are markedly harsher and two national regulators carry notices; ASIC treats the firm as a licensed entity worth protecting from impersonators.
Website claims
4/10 · ModerateThe established-2005 claim is accurate and the main licence numbers resolve with a direct CySEC verify link, but the Kenya licence is advertised as 103 against the register's 193, and global regulation is marketed to clients onboarded to lightly supervised offshore entities.
Operational history
2/10 · LowAround 21 years verified from a 2004 domain registration and a 2005 Australian incorporation, with continuous ASIC licensing since May 2005; only the repeated offshore-entity churn tempers an otherwise strong record.
Who they are
A quick desk file on the company behind the brand.
- Brand: FP Markets, trading name of First Prudential Markets, registered as a business name to the Australian company since 15 May 2014.
- Legal entity (flagship): First Prudential Markets Pty Ltd, ACN 112 600 281, ABN 16 112 600 281, Australia.
- Other entities: First Prudential Markets Ltd (Cyprus, registration 372179), First Prudential Markets Limited (Seychelles), FP Markets (Pty) Ltd (South Africa), FP Markets Limited (Kenya), FP Markets Ltd (Saint Lucia, registration 2025-00853).
- Registered: Level 5 Exchange House, 10 Bridge Street, Sydney NSW 2000, Australia. The Cyprus entity sits at 109 Georgiou Griva Digeni, 3rd floor, 3101 Limassol.
- Website: www.fpmarkets.com, with fpmarkets.eu for the EU, fpmarkets.com.au for Australia and fpmarkets.co.ke for Kenya.
- Main licence: ASIC AFS Licence 286354, a full retail licence covering advice, dealing and market making in foreign exchange contracts and derivatives.
- Offers: CFDs on forex, shares, indices, commodities, bonds and digital currencies on MetaTrader 4, MetaTrader 5, cTrader and TradingView, from a 50 to 100 US dollar minimum deposit.
- Not accepted: the United States, Canada and Belgium are excluded from the EU arm, and the EU site states it is not directed at anyone outside the EEA.
- Age claim: established 2005, which matches the records.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
Australian Securities and Investments Commission (ASIC)
Cyprus Securities and Exchange Commission (CySEC)
Financial Sector Conduct Authority (FSCA), South Africa
Capital Markets Authority (CMA), Kenya
Financial Services Authority (FSA), Seychelles
Registrar of Companies, Saint Lucia
Found by our investigation (2) — the broker does not list these on its own site
Financial Services Authority (FSA), Saint Vincent and the Grenadines
Found by us — not listed by the broker
Financial Services Commission (FSC), Mauritius
Found by us — not listed by the broker
Why we reached this verdict
How the evidence adds up.
FP Markets is a genuinely licensed, long-established broker, so the question is not whether it exists but how much protection you actually get. Two things pull the score into the high-risk band.
- The flagship licence checks out completely. ASIC publishes its licensee register as an open dataset, and the October 2026 edition lists AFS Licence 286354 against FIRST PRUDENTIAL MARKETS PTY LTD, ABN 16112600281, Sydney NSW 2000, effective 31 May 2005. The conditions authorise dealing by issuing and making a market in foreign exchange contracts and derivatives to retail and wholesale clients. That is the full permission set, not an advice-only authorisation.
- Four more registers return the group. CySEC lists First Prudential Markets Ltd under licence 371/18 from 19 November 2018 and records www.fpmarkets.eu and www.fpmarkets.com/eu as its only approved domains. The Seychelles FSA carries First Prudential Markets Limited with the trade name FP Markets and www.fpmarkets.com/sc as its website. The FSCA returns FP MARKETS (PTY) LTD under FSP 50926 with status Authorized. Kenya's CMA lists FP Markets Limited with www.fpmarkets.co.ke. Every one of those entries ties back to the company and the domains we were asked to examine, so there is no impersonation here.
- But the UK regulator warned about this exact website. On 11 October 2024 the FCA added FP Markets to its warning list, stating the firm may be providing or promoting financial services or products without its permission. The entry gives www.fpmarkets.com, a Kingstown address on Richmond Hill Road in Saint Vincent and the Grenadines, and the phone number +442825447780. Those details match the group's own offshore company, FP Markets LLC, registration 126 LLC 2019 at Euro House, Richmond Hill Road. The FCA did not label it a clone, and it is not one: this is the group's own offshore arm promoting into a market where it holds no authorisation.
- A second regulator said the same thing. The UAE Securities and Commodities Authority published a notice on 27 May 2025 under the name FP Markets (UAE), categorised as an unregistered or unlicensed entity offering financial products or services, and stating that the company holds no licence from it. That notice names no website, so we treat it with care, but the conduct it describes is the same perimeter problem.
- Clients report profits cancelled and withdrawals held. On Trustpilot the one-star reviews include a client whose 2,508.01 US dollar profit was voided and withdrawal refused in July 2026, a client whose profit was wiped after an 'abusive trading activity' finding in August 2026, and four separate clients in September 2026 describing withdrawals stuck for two, five and ten days against an advertised one business day. The same mechanism, accounts closed or profits reversed under abusive-trading clauses, recurs in threads on a specialist foreign exchange review forum. The complaints describe one failure, cluster in a single window, and carry checkable amounts and dates. The cluster is concentrated on one review platform, which is why we record it as strong rather than conclusive.
- Weighed against that, the mitigation is substantial. Trustpilot holds 10,341 reviews averaging 4.8, with many specifically praising fast withdrawals; the company replies to about a quarter of negative reviews. Australian retail clients get segregated money at an Australian bank, negative balance protection and free access to the Australian Financial Complaints Authority. EU clients get Investor Compensation Fund cover up to 20,000 euros. No client reported being asked for an extra payment to release funds, which is the single most incriminating complaint type and it is absent here.
- Nothing on our side found misconduct by the licensed entity. Searching IOSCO's alert network for the legal entity returns exactly two results, and both are ASIC notices warning the public about websites impersonating First Prudential Markets Pty Ltd. ASIC classifies it as a registered and licensed entity being impersonated. Two further alerts circulate against fpmarketstrade.com and fpmarketsfx.org, which are different operations trading on the name and whose conduct we have not counted against this broker.
- Arithmetic. The weighted mean of the six scored dimensions is 4.0, giving 40 per cent. We publish 48 per cent to reflect the two national regulators that have formally stated this operation solicits in their markets without permission. The figure sits below the likely-scam band because the credentials are real and verified, and above the clean band because the perimeter warnings and the withdrawal pattern are both documented.
- One older action on the record. ASIC accepted an enforceable undertaking from First Prudential Markets Pty Ltd in 2014 over concerns that its 2013 compliance processes for detecting potentially manipulative client trading were not adequate. It required an independent expert and remediation. No licence suspension, condition or penalty followed. Twelve years on it is context, not a live concern.
Evidence ledger
Every finding, with its source and how strongly it points.
E1ASIC's own published register of Australian Financial Services Licensees, October 2026 edition, carries AFS Licence 286354 for FIRST PRUDENTIAL MARKETS PTY LTD, ABN 16112600281, Sydney NSW 2000, effective 31 May 2005. The licence conditions authorise dealing by issuing and making a market in foreign exchange contracts and derivatives for retail and wholesale clients.
E2The CySEC register entry for First Prudential Markets Ltd shows licence number 371/18, licence date 19 November 2018, company registration number 372179, the Limassol address, and lists www.fpmarkets.eu and www.fpmarkets.com/eu as the only approved domains, with cross-border passports into 27 other EEA states. The approved-domain field matches the broker under examination, so the clone test passes.
E3The FCA added FP Markets to its warning list on 11 October 2024, stating the firm may be providing or promoting financial services or products without its permission. The entry names the website www.fpmarkets.com, an address at Richmond Hill Road, Kingstown, VC0100, Saint Vincent and the Grenadines, and the telephone number +442825447780. It is not flagged as a clone of an authorised firm.
Hard proofFCA warning listE4The UAE Securities and Commodities Authority published a notice on 27 May 2025 under the name FP Markets (UAE), categorised as an unregistered or unlicensed entity offering financial products or services, stating the company holds no licence from the Authority for any regulated financial activity. The notice names no website, so attribution rests on the brand and the described conduct.
E5The Seychelles FSA securities dealer register carries First Prudential Markets Limited at Office 205, Waterside Property, Eden Island, with the trade name FP Markets, a compliance email on the broker's own domain, and www.fpmarkets.com/sc recorded as its website. The register does not print licence numbers, so the number SD130 comes from the broker's own disclosure rather than the register.
E6The FSCA financial service provider search returns FSP number 50926 as FP MARKETS (PTY) LTD with status Authorized. The register publishes results only through an interactive search, so the entry is reached by entering the FSP number.
E7Kenya's Capital Markets Authority lists FP Markets Limited on its register of non-dealing online foreign exchange brokers, against licence number 193, with www.fpmarkets.co.ke as its website. The broker's own group page advertises this as licence number 103, which does not match the number on the regulator's register.
E8Trustpilot carries 10,341 reviews for fpmarkets.com averaging 4.8, distributed 94 per cent five star and 3 per cent one star. Among the one-star reviews: a client reporting a 2,508.01 US dollar profit voided and withdrawal refused in July 2026; a client whose profit was wiped after an abusive-trading-activity finding in August 2026; and four clients in September 2026 describing withdrawals held two, five and ten days against an advertised one business day. The company replies to about 24 per cent of negative reviews and runs a disclosed review-invitation programme.
E9Searching IOSCO's alert network for the legal entity name returns exactly two results, both ASIC notices warning the public about websites impersonating First Prudential Markets Pty Ltd: pglobalinv.com trading as Power Global Investment on 27 February 2026, and afexmarketsltd.com trading as Afex Markets on 6 February 2026. Both are categorised as registered or licensed entity impersonators, meaning ASIC treats FP Markets itself as a licensed firm.
E10The Australian Business Register shows FIRST PRUDENTIAL MARKETS PTY LTD, ABN 16 112 600 281, active from 7 June 2005, entity type Australian Private Company, ACN 112 600 281, main business location NSW 2000, with the business name FP Markets registered from 15 May 2014 and the trading name First Prudential Markets from 7 June 2005.
E11Registry records for the domain fpmarkets.com give a registration date of 10 July 2004, an expiry of 10 July 2032, and the Australian registrar Netregistry Wholesale Pty Ltd. That makes the domain about 21 years older than the content it now serves would require, and corroborates the established-2005 claim rather than contradicting it.
E12The broker's own group page sets out its structure jurisdiction by jurisdiction as published in March 2026: CySEC licence 371/18 for Europe, ASIC AFS licence 286354 for Australia, Saint Lucia registration 2025-00853 described as registered rather than regulated, FSCA FSP 50926 for South Africa, FSA licence SD 130 for Seychelles, and CMA licence 103 for Kenya. It claims client funds are kept in segregated bank accounts for every entity and that the group was established in 2005.
ModerateFP Markets group disclosure pageE13ASIC accepted an enforceable undertaking from First Prudential Markets Pty Ltd in 2014, following concerns that in 2013 its compliance processes for detecting and dealing with potentially manipulative client trading may not have been adequate. The undertaking required an independent compliance expert to assess its controls and the firm to implement remedial action. No licence suspension, licence condition or financial penalty was imposed.
ModerateASIC media release 14-345MRE14The FSC Mauritius public register of licensees, searched by name for FP Markets, First Prudential and Prudential, returns no entry for this group. A control search on an unrelated licensee returned its entry correctly, confirming the search works, so this is a genuine negative rather than an unusable register.
E15A separate FCA warning published on 29 November 2022 names FPMARKETSTRADE / FP MARKETS TRADE with the website fpmarketstrade.com, a different domain from the broker under examination. A further ASIC alert from 16 November 2023 names fpmarketsfx.org. Both are different operations trading on a similar name, and none of their conduct is attributed to this broker.
ModerateFCA warning listE16The broker's EU regulation page states that First Prudential Markets Ltd, registration number HE 372179, owns and operates www.fpmarkets.eu and www.fpmarkets.com/eu, is authorised and regulated by CySEC under licence 371/18, is a registered member of the Investor Compensation Fund, and links directly to its own CySEC register entry. It states the site is not directed at residents of the United States, Canada, Belgium or any country outside the EEA.
ModerateFP Markets EU regulation pageE17TradingView's broker page for FP Markets shows a 3.9 rating across roughly 2,400 ratings and 24,600 traders. The negative reviews there concern platform quality rather than money: connection failures, lag, disappearing order history, self-cancelling orders and slow execution, with outages described in April, June and August 2026. The company posts substantive replies to negative reviews.
ModerateTradingView broker reviews
The other side
The strongest case in this broker’s favour.
The case for FP Markets is stronger than most brokers we examine, and it deserves stating plainly.
- This is the opposite of a clone. Five separate regulators record the group's entities, and three of them publish the website alongside the entry. The Seychelles FSA and Kenya's CMA both print the broker's own domains in their registers, and CySEC names its approved domains explicitly. A fake operation cannot produce that.
- The Australian licence is a real retail dealing licence. Plenty of brokers point at an offshore registration or an advice-only authorisation and call it regulation. This one holds market-making permission for foreign exchange and derivatives to retail clients from a tier-one regulator, continuously since May 2005.
- The age claim is true. The domain was registered on 10 July 2004 through an Australian registrar and is paid up to 2032; the Australian company has been active since June 2005. A great many brokers advertise a history they cannot evidence. This one can.
- The regulator treats it as a victim, not an offender. ASIC has published alerts about two separate websites impersonating First Prudential Markets Pty Ltd. Regulators do not protect the names of operations they consider fraudulent.
- The perimeter warnings are not fraud findings. Neither the FCA nor the UAE authority alleges theft, misappropriation or deception. Both say the firm is not licensed by them. That is a licensing-scope breach, and a great many offshore-facing brokers carry the same notices.
- The withdrawal complaints have an innocent reading. Brokers legitimately void profits obtained through latency arbitrage or other prohibited strategies, and several complainants describe exactly the fact pattern a broker would call abusive, including very large positions held briefly around market events. Against 10,341 reviews averaging 4.8, roughly a dozen fund-access complaints is a low rate, and the company does engage with them.
- Protections are real where they apply. Segregated client money at an Australian bank, negative balance protection, free AFCA access for Australian retail clients, and EU compensation cover up to 20,000 euros are concrete, enforceable safeguards.
What would change this
What we would need to see to revise the verdict.
Specific, checkable things would move this verdict in either direction.
- Towards a clean assessment: the FCA removing FP Markets from its warning list, or the group publicly excluding UK and UAE residents and the notices lapsing.
- Towards a clean assessment: the September 2026 withdrawal-delay cluster not recurring over the next two quarters, with the company publishing its actual processing times.
- Towards a clean assessment: the group stating plainly, before signup, which entity a given client will contract with and what that entity's protections are, rather than marketing global regulation.
- Towards a clean assessment: the Kenya licence number on the broker's own group page corrected to match the 193 that the CMA register shows.
- Towards a worse assessment: any credible report of an extra payment being demanded before funds are released. That single pattern would change the verdict immediately.
- Towards a worse assessment: ASIC or CySEC imposing a licence condition, suspension or penalty, or either register showing the licence withdrawn.
- Towards a worse assessment: the withdrawal-dispute cluster spreading to a second and third platform with matching amounts and dates, or an ombudsman or court determination against the firm on fund access.
- Towards a worse assessment: evidence that profits are being voided under abusive-trading clauses in cases where the client's strategy was permitted by the published terms, which several complainants allege and we could not resolve either way.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
ASIC professional registers search (Australia)
Enter 286354 to pull up the AFS licence for First Prudential Markets Pty Ltd.
CySEC register entry (Cyprus)
The broker's own verify link. Shows licence 371/18, the Limassol address and the approved domains.
Seychelles FSA securities dealer register
Open the Securities Dealer tab and expand First Prudential Markets Limited for the address and website on file.
FSCA financial service provider search (South Africa)
Enter FSP number 50926 to see FP Markets (Pty) Ltd and its status.
CMA Kenya register of non-dealing online forex brokers
Lists FP Markets Limited with licence number 193 and its Kenyan website.
FCA warning list entry (United Kingdom)
The UK notice naming www.fpmarkets.com, published 11 October 2024.
UAE regulator notice, via IOSCO's alert network
The UAE Securities and Commodities Authority notice on FP Markets (UAE), 27 May 2025.
ASIC alert on a website impersonating the firm
ASIC warns the public about pglobalinv.com impersonating First Prudential Markets Pty Ltd.
Australian Business Register entity record
Government record of the Australian company, its ACN and the FP Markets business name.
FSC Mauritius register of licensees
Search by name. No entry is returned for this group.
ASIC enforceable undertaking, 2014
ASIC's media release on the 2014 undertaking over compliance processes.
Trustpilot reviews for fpmarkets.com
10,341 reviews. Filter to one star to read the withdrawal complaints.
Frequently asked questions
Quick answers about this broker’s safety.
Is FP Markets a scam?
No. FP Markets is a real broker with genuine licences, and we confirmed its Australian AFS Licence 286354 on ASIC's own licensee register, effective since 31 May 2005. It is not a clone and it is not a fake platform. It does carry real risk, though: the UK and UAE regulators have both published notices that it is not licensed by them, and a number of clients report profits cancelled and withdrawals held.
Is FP Markets a fraud?
No regulator or court has made a finding of fraud against FP Markets, and we found no enforcement action or court record for fraud naming any of its entities. The FCA warning concerns UK authorisation, not fraud. The serious client complaints we found describe profits being voided under abusive-trading clauses and withdrawals running past the advertised time, which is a conduct dispute rather than an established crime.
Is FP Markets regulated?
Yes, in several places. ASIC in Australia holds AFS Licence 286354 for First Prudential Markets Pty Ltd, with permission to make a market in foreign exchange and derivatives for retail clients. CySEC lists licence 371/18 in Cyprus, the FSCA lists FSP 50926 in South Africa as Authorized, Kenya's CMA lists licence 193, and the Seychelles FSA carries the group as a securities dealer. It is not regulated in the UK, the UAE, the United States or Canada.
Why does the FCA have a warning about FP Markets?
On 11 October 2024 the FCA added FP Markets to its warning list, saying the firm may be providing or promoting financial services without its permission. The entry names www.fpmarkets.com and a Kingstown address in Saint Vincent and the Grenadines that matches the group's own offshore company, FP Markets LLC. It is a warning about selling into the UK without UK authorisation, not a finding of fraud, and the FCA did not mark it as a clone.
Can I withdraw my money from FP Markets?
Most clients can and do. Trustpilot carries 10,341 reviews averaging 4.8 and many specifically praise fast withdrawals. But a real minority report problems: four clients in September 2026 described withdrawals held for two, five and ten days against an advertised one business day, and others report profits cancelled outright after an abusive-trading finding. Test a small withdrawal early and keep your records.
Is my money safe with FP Markets?
That depends on which entity you sign with. Australian retail clients get money held in segregated accounts at an Australian bank, negative balance protection, and free access to the Australian Financial Complaints Authority. EU clients under the Cyprus licence get Investor Compensation Fund cover up to 20,000 euros. Clients routed to the Seychelles or Saint Lucia arms get neither a compensation scheme nor an ombudsman.
Who owns FP Markets and where is it based?
The group is Australian. Its flagship entity is First Prudential Markets Pty Ltd, ACN 112 600 281, based at Level 5 Exchange House, 10 Bridge Street, Sydney NSW 2000, and active on the Australian Business Register since June 2005. It also operates through companies in Cyprus, Seychelles, South Africa, Kenya and Saint Lucia.
How old is FP Markets?
About 21 years, and the claim is verifiable. The domain fpmarkets.com was registered on 10 July 2004 through an Australian registrar, the Australian company has been active since June 2005, and its ASIC licence was issued on 31 May 2005. The company advertises that it was established in 2005, which the records support.
Is FP Markets a clone of another broker?
No, and in fact the reverse happens to it. CySEC, the Seychelles FSA and Kenya's CMA all record the broker's own domains against its entries, which a clone cannot do. ASIC has published alerts warning the public about pglobalinv.com and afexmarketsltd.com impersonating First Prudential Markets Pty Ltd, and separate alerts exist for fpmarketstrade.com and fpmarketsfx.org. Those are different operations trading on the name.
What is the Saint Lucia or Saint Vincent registration worth?
Nothing in terms of protection. Saint Lucia registration 2025-00853 and the Saint Vincent number 126 LLC 2019 are company registrations, not financial licences, and Saint Vincent's regulator does not license forex brokers at all. If your account sits under one of those entities, no regulator is supervising how your money is handled. The Saint Vincent entity was rebranded as FP Trading LLC with effect from 28 March 2026.
Does FP Markets hold a licence in Mauritius?
We could not establish one. Our own record carried a Mauritius number, GB21026264, but the FSC's public register of licensees returns no entry for this group under FP Markets, First Prudential or Prudential, and the broker's own group page does not list Mauritius among its authorities. Numbers of that shape are Mauritius global business company licences, which allow a company to operate from Mauritius rather than to run a brokerage.
Why do some clients say their profits were cancelled?
Several complainants describe making a profit, requesting a withdrawal, and then being told the trading was abusive or risky, after which the profit was voided and the account restricted. One client gives a figure of 2,508.01 US dollars in July 2026. Brokers are entitled to void profits from prohibited strategies, and some of these cases may be legitimate, but clients also argue the published terms permitted what they did. Read those clauses carefully before using an expert advisor or scalping.
What should I check before depositing with FP Markets?
Four things. Confirm in writing which legal entity your account will sit under, then look that entity up on its regulator's register yourself. Read the abusive-trading and prohibited-strategy clauses in full. Make a small test withdrawal early and record the dates and amounts. And if you are in the UK or the UAE, do not open an account at all, because both regulators have said this operation is not licensed by them.
What we recommend
The practical takeaway from everything above.
Treat FP Markets as a real broker whose safety depends almost entirely on which entity holds your money.
- Check which entity you are signing with before you deposit, and find it on that regulator's register yourself. The protections differ enormously between the Australian, Cyprus and offshore arms.
- Prefer the ASIC or CySEC entity if you are eligible. Those are the only two that come with segregated funds plus a free complaints body, and in the EU with compensation cover up to 20,000 euros.
- If you are in the UK or the UAE, do not open an account. Both national regulators have published notices that this operation is not licensed by them, which means no ombudsman and no compensation scheme if something goes wrong.
- Read the abusive-trading and prohibited-strategy clauses in full before using an expert advisor, scalping or news trading. That clause is the mechanism behind most of the serious complaints we found.
- Test withdrawals early and small. Move a modest amount out soon after your first deposit and keep the dates, ticket numbers and amounts.
- Never send a further payment to release a withdrawal. No legitimate broker requires one. We found no such demands here, and if you receive one, stop and escalate.
- If a withdrawal stalls, Australian retail clients should go to the Australian Financial Complaints Authority, EU clients to CySEC and the Financial Ombudsman in Cyprus, and South African clients to the FAIS Ombud.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 7, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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