I’m looking at FP Markets for a small live account and want to do this properly. Regulation is my first filter. I’m trying to confirm which entity I’d be onboarded under and what protections actually apply.
I’m checking the public registers for license numbers, reading the client money wording, and noting any compensation scheme. On costs, I’m logging spread plus commission minus any rebate to get a net per-lot number. I also glanced at the broker info page here to cross-check regulator details and typical rebates, then compare against brokers I already use.
If you’ve traded FP Markets under ASIC, CySEC, or their offshore entity, what did you experience with withdrawals, leverage changes, or dispute handling? After adding rebates, did they end up cheaper than your other brokers?
What were your concrete pros and cons, and how did you verify them?
ASIC entity safer but spreads slightly higher for me
Rebates covered about a quarter of my costs
Start by asking support to name the exact entity you will sign with and get it in writing. Check that entity on the regulator site by license number. Read client money rules and any compensation scheme notes. Do a small deposit and a small withdrawal to see the turnaround time and fees. For costs, record spread and commission in your platform and subtract the average rebate you expect. Track at least 100 trades or two weeks of your normal flow before deciding. Compare those numbers with two other regulated brokers.
Costs vary by account type and entity. For EURUSD, log average spread and add commission per lot. Subtract the actual rebate received per lot. That is your real cost. If you see 0.2 pip average spread with a 6 dollar commission and a 1.5 dollar rebate, your net commission part is 4.5 dollars and your total cost is 0.2 pips plus that converted to pips for your account size. Repeat during news and quiet hours to catch the range.
My ASIC account was fine. Withdrawals in two days. Net cost ok after rebates.
Ran FP Markets under ASIC for six months. KYC was quick and the entity was clearly stated in the docs. Withdrawals hit my bank in one to two days and fees were predictable.
Costs after rebates were close to what I get on Pepperstone and IC on majors. Slightly wider during big news but fills held up. I kept a sheet with spread, commission, and actual cashback to avoid guessing. If you scalp, test during the session you trade most. If you swing, the small spread differences matter less, so pick the entity with clearer protection.