FP Markets Review: FSCA-Regulated Broker for South Africa

FSP 50926 checked against the FSCA register

FP Markets Review: What South African Traders Should Know

FP Markets is a long-operating, multi-regulated broker headquartered in Australia. This page covers what we’ve verified directly, including its South African FSCA licence, and is honest about the details we’re still confirming for the deeper account-level review.

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Founded 2005 HQ Australia MT4, MT5 & cTrader

South African Regulation

FSCA-authorised via FP Markets (Pty) Ltd, FSP 50926

Other Regulators

Group licences include Australia’s ASIC, Cyprus’s CySEC, the Seychelles’ FSA and Kenya’s CMA

Platforms

MetaTrader 4, MetaTrader 5, cTrader, IRESS (Australia only)

Account Types

Standard and Raw, both with Islamic (swap-free) versions

Cost Structure

Spread-only on Standard; raw spread plus commission on Raw

ZAR & Local Payments

Local payment support reported by region; confirm specifics at sign-up

Regulation

Is FP Markets Actually Regulated for South Africans?

We don’t take “FSCA regulated” at face value from any broker’s marketing. Here’s what we checked for FP Markets specifically, and how you can check it yourself in a couple of minutes.

Situation 1: FSCA-Authorised South African Entity

South African clients are onboarded through FP Markets (Pty) Ltd, FSP number 50926, which is authorised by the Financial Sector Conduct Authority. That means there’s a South African-registered entity holding its own FSP licence, rather than being routed through an offshore arrangement with no local licence attached.

We’d still encourage you to check this yourself rather than take our word for it: search FSP number 50926 on the FSCA’s public register at fsca.co.za and confirm the licence is active before you fund an account. It takes a couple of minutes and it’s the single most useful check you can do before trading with any broker.

Other Group Licences

FP Markets’ wider group holds licences across several other jurisdictions, including Australia’s ASIC (its home regulator), Cyprus’s CySEC, the Seychelles’ FSA and Kenya’s CMA. These cover FP Markets’ other regional entities, not necessarily the South African one, which is why we’ve verified the South African entity and FSP number separately above rather than assuming one licence covers all regions.

What We’re Still Confirming

The exact account conditions, current trading terms and any South Africa-specific restrictions tied to FP Markets (Pty) Ltd are part of our deeper, account-level review, which we’re completing separately. The regulatory entity and licence number above are confirmed; the fine print of day-to-day trading conditions is what we’re still working through.

Platforms

What You’ll Actually Trade On

FP Markets supports both MetaTrader platforms and cTrader, plus IRESS for Australian clients specifically.

MetaTrader 4

The older and still widely used of the two MetaTrader platforms. Known for stability, a large library of custom indicators and expert advisors, and broad familiarity among traders who’ve used it for years across other brokers.

MetaTrader 5

The newer MetaTrader platform, with more built-in timeframes, order types and a broader range of tradable asset classes in one terminal. Worth choosing if you’re starting fresh rather than migrating an existing MT4 setup.

cTrader

A platform known for its depth-of-market view, advanced charting and single-tap order execution, with TradingView integration also supported for cTrader accounts.

Account Types

How FP Markets Structures Its Accounts

FP Markets’ core lineup is a Standard account and a Raw account, both also available in Islamic, swap-free versions.

Standard

Positioned as the straightforward, spread-based account, with cost built into the spread rather than a separate per-trade commission.

Raw

An ECN-style account reported to offer tighter spreads, paired with a separate commission per trade rather than a spread markup.

We’re deliberately not publishing exact spread figures, commission rates or minimum deposit amounts here. Those numbers move, they vary by instrument and account, and a broker page repeating stale figures is worse than one that sends you to check current terms directly with FP Markets before you fund an account.

South African Fit

Funding Your Account From South Africa

FP Markets is reported to support standard cards, bank transfer and e-wallets generally, though we haven’t independently confirmed exactly what applies to South African clients specifically.

Deposits & Withdrawals

FP Markets is reported to support cards, bank transfer and e-wallets generally, with specific options varying by region. We haven’t independently confirmed the specific South African payment methods or processing times, so we’d rather point you to check this directly during sign-up than guess.

Exchange Control

Trading through a broker based outside South Africa involves moving funds offshore, which falls under South African exchange control rules. This isn’t personal financial or tax advice. If you’re unsure how these rules apply to your situation, a licensed advisor can walk you through it properly.

Weighing It Up

Where FP Markets Holds Up, and Where to Look Closer

Based on what we’ve verified so far. This isn’t a numeric score, and it will get more specific once our full account-level review is published.

Working In Its Favour

A confirmed South African entity (FP Markets (Pty) Ltd) holding its own FSCA licence (FSP 50926), not just an offshore arrangement.
Long operating history, trading since 2005.
A broad regulatory footprint across several other jurisdictions, including Australia, Cyprus and Kenya.
Three main platforms supported: MetaTrader 4, MetaTrader 5 and cTrader.
Islamic, swap-free versions available on both core account types.

Worth Confirming Yourself

Exact current spreads, commissions and leverage caps per account, which change over time.
Which specific local payment methods and processing times apply to South African clients right now.
Any account-specific terms or restrictions that apply under the South African entity specifically, which our full review is still working through.

Questions

FP Markets Review: Frequently Asked Questions

Is FP Markets regulated in South Africa?

Yes. FP Markets (Pty) Ltd is authorised by the FSCA under FSP number 50926. We recommend searching that FSP number directly on the FSCA’s public register at fsca.co.za before you fund an account, since that takes a couple of minutes and confirms the licence is current.

Is FP Markets a scam?

Based on what we’ve verified, no. FP Markets has operated since 2005, is headquartered in Australia, and holds licences across multiple jurisdictions including Australia’s ASIC, Cyprus’s CySEC, the Seychelles’ FSA, Kenya’s CMA and South Africa’s FSCA. Regulation reduces risk and gives you somewhere to complain if something goes wrong, but it isn’t a guarantee against losses, and forex and CFD trading itself carries real risk regardless of which broker you use.

What trading platforms does FP Markets offer?

MetaTrader 4, MetaTrader 5, cTrader, and IRESS, which is only available to Australian clients. TradingView integration is also supported for cTrader accounts.

What account types does FP Markets offer?

FP Markets’ core accounts are a Standard account, where cost is built into the spread, and a Raw account, which pairs tighter spreads with a separate commission per trade. Both are also available in Islamic, swap-free versions. Exact spreads, commissions and minimum deposits attached to each account change over time, so we’d rather send you to check FP Markets’ own current terms than publish numbers that may be out of date.

Is Exness or FP Markets better for South African traders?

Exness is the broker Broker Verdict currently recommends first, based on its long operating history and the strength of its overall review. Both Exness and FP Markets have a confirmed South African FSP licence in our research: Exness ZA (Pty) Ltd holds FSP 51024, and FP Markets (Pty) Ltd holds FSP 50926. We’re publishing a dedicated comparison as we complete both full reviews.

Still Deciding? See Our Recommended Broker

Of the brokers we’ve reviewed so far, Exness is the one our team recommends first, on the strength of its confirmed FSCA-authorised entity, platform range and long operating history.

Start trading with Exness

Forex and CFD trading carries significant risk, and leverage can amplify losses as well as gains. Broker Verdict may receive compensation when you sign up through this link. This does not change how we evaluate brokers. See our affiliate disclosure and full risk disclaimer.

Written by the Broker Verdict Team. Regulatory details were checked against the entity and FSP number supplied by FP Markets’ affiliate programme, and independently corroborated. Trading conditions (spreads, leverage, minimum deposits) change and are not republished here as fixed figures. Read our full review methodology. Page last reviewed: August 2026.