FP Markets LATAM review

Looking for our global review instead? Read our FP Markets global review.

This is a deep dive into FP (First Prudential) Markets for traders from the LATAM (Latin America) region. FP Markets is an Australian CFD and forex broker founded in 2005 and headquartered in Sydney. LATAM clients are served by First Prudential Markets Limited, regulated by the Seychelles Financial Services Authority (FSA) under licence SD130.

The group holds licences from several regulators, including ASIC (Australian Securities and Investments Commission), CySEC (Cyprus Securities and Exchange Commission) and FSCA (Financial Sector Conduct Authority, South Africa).

In a nutshell, FP Markets is a solid choice for LATAM traders looking for competitive spreads, fast execution, and access to popular platforms like MT4, MT5, and cTrader across 1000+ CFD products. On the downside, it does not offer real share trading, and LATAM traders fall under the Seychelles (FSA) regulatory entity, which offers less statutory protection than some other regulatory entities.

Below you will find the most important things to know before opening an account.

Pros and cons

Who FP Markets is for (and who should skip it)

Fees

FP Markets uses two main account types (Standard and Raw), which determine your trading fees and spreads. You can find their full list of live spreads. What’s identical for both account types is that FP Markets does not charge deposit, inactivity or platform fees for LATAM clients.

As you can see, for many of the trading products, the fees are already built into the spread. The exception is the forex and metals trading in the Raw account. Next, we will highlight some of the most common forex spreads in the following table.

For equity and ETF CFDs on the MT5 and cTrader platforms, the fees are fixed and as follows for both Standard and Raw accounts.

Bond CFDs, on the other hand, offer the following spreads.

Withdrawal fees do exist for some of the withdrawal options, and are as follows.

Which account fits you?

• Standard: better for swing traders holding positions for days. No commission, wider spreads.
• Raw: better for scalpers and day traders. It has tight spreads and a commission on each side.

Swap fees also apply to all positions held overnight at 5 pm New York time, with FP Markets tripling the rollover rates on Wednesday (or Friday) nights since it cannot charge overnight fees on weekends.

How does this stack up?

Raw spreads are competitive but not class-leading. Fusion Markets, for example, charges $2.25 per side on its Zero account ($4.50 round turn), against $3 per side ($6 round turn) on FP Markets’ Raw account in USD. FP Markets’ edge lies in the combination of five platforms, a group with Tier-1 licences elsewhere and 24/7 support.

Example: one standard lot (100,000 units) of EUR/USD on the Raw account, at the average spread of 0.14 pips in the table above, costs about $14 in spread plus $6 in round-turn commission, or roughly $20 in total. The same trade on the Standard account, at an average spread of 1.24 pips, costs about $124.

Products & markets: what you can and can’t trade

FP Markets is an exclusively CFD broker, including CFDs on forex, shares, indices, commodities, metals, crypto, and ETFs. You cannot, however, buy real shares or other asset classes such as bonds.

LATAM traders have a choice of more than 70 currency pairs, offering all the major ones (USD/EUR, USD/JPY, GBP/USD, USD/CHF, etc.), along with some minor and exotic ones, including currencies such as ZAR, SGD, TRY, or CNH.

Out of the LATAM currencies, MXN and BRL are supported both as base currencies and as tradable forex pairs (as listed above).

Max leverage by instrument in LATAM countries (Seychelles FSA regulatory entity)

LATAM traders can use leverage of up to 500:1 under the Seychelles FSA entity. However, higher leverage should be used with caution, as it amplifies both potential gains and losses. Highest possible leverage also depends on the trading product itself, as shown in the following table.

It is important to note that the leverage on the Iress platform is capped at 1:20.

Trading platforms

One of the biggest advantages of FP Markets is access to five trading platforms: MetaTrader 4, MetaTrader 5, cTrader, Iress and TradingView. All of these include web, mobile, and desktop versions.

Iress is an advanced trading platform available for LATAM traders, offering 10,000+ financial instruments, direct market access (DMA), and a maximum leverage of 20:1. It does have a higher minimum deposit of $1000 and comes with a monthly fee, which could be waived with enough trading activity. It is offered through the Iress ViewPoint application, with significantly reduced capabilities when compared to the Australian traders’ Iress platform (most notably, no access to real shares).

MetaTrader WebTrader is also available, making it possible to trade directly from the browser, without having to download trading software.

Forex VPS (Virtual Private Server) hosting can also be used to host your MT4, MT5, or cTrader platforms. Located at the same data centers (Equinix NY4 and LD5) as their trading servers, it provides a meaningful latency advantage for 24/5 traders. You can see the FP Markets VPS plans on the provider’s website.

Social trading is also available on MT4 and MT5 for both trading copiers and providers. It allows traders who are beginners or short on time to copy trades from other traders. You can find out more on the FP Markets social trading page.

Some other tools include a plethora of AI-powered tools designed to help with research, news, analysis and more, such as Acuity Trading and Trade Medic.

You can access FP Markets through both web and mobile-based applications. The proprietary web platform is functional but visibly dated. The mobile app looks modern but is feature-limited (account management, transfers, basic tools). Serious trading happens on MT4/5, cTrader or TradingView.

Both applications offer additional security layers, such as a PIN in the web app or biometric login (fingerprint) on the mobile app.

Is FP Markets safe? The honest answer for LATAM clients

Your safety snapshot (Seychelles FSA entity)

If FP Markets went bust tomorrow, your LATAM account would fall under the Seychelles FSA, which does not run a statutory investor compensation scheme comparable to Cyprus’s €20,000 Investor Compensation Fund (ICF) or the UK’s £85,000 Financial Services Compensation Scheme (FSCS). Client funds are held in segregated accounts at third-party banks, which helps, but segregation is not the same as a compensation guarantee.

Why aren’t LATAM clients under ASIC? Because the ASIC-regulated Australian entity can legally only onboard Australian residents. Most CFD brokers route non-AU, non-EU retail clients to offshore subsidiaries to offer the higher leverage that Tier-1 regulators cap at 1:30.

Regulator tiers:

• Tier 1 (strongest): ASIC (AU), CySEC (EU)
• Tier 2: FSCA (South Africa)
• Tier 3 (offshore): Seychelles FSA, FSC (Mauritius), CMA (Kenya)

You keep negative balance protection, so you cannot lose more than you deposit, but you do not get the statutory compensation safety net you’d have at a Tier-1 regulated broker.

Account types

FP Markets offers two base account types: the Standard and the Raw account, with their main differences listed on the FP Markets account types page. There are also managed PAMM/MAM accounts and swap-free Islamic accounts. A demo account is free to open and test for 30 days.

Account opening

What to expect:

User reviews and support

• Trustpilot: 4.8 / 5 across more than 10,000 reviews (October 2026)
• TradingView: 4.1 / 5 across 2,000+ reviews
• Common praise: execution speed, customer support, low spreads
• Common complaints: withdrawal friction, account terminations, occasional platform glitches

Support runs 24/7 via live chat, email, and phone in English, Spanish, Portuguese, and many other languages. In our testing, email response times were fast (under 2 hours during business hours), and answers were substantive rather than copy-paste.

Bottom line

FP Markets is a legitimate, well-established CFD broker with one of the strongest platform line-ups in the industry and genuinely competitive raw spreads. For an active forex or CFD trader in Latin America who wants high leverage, professional tools and a group that also holds Tier-1 licences, it is a real option worth shortlisting.

Go in with eyes open on three things:

1. You are a Seychelles FSA client, not an ASIC or CySEC client. Your protection is limited to segregated funds and negative balance protection, with no compensation scheme behind them.
2. No real shares, ETFs, or bonds. If you want long-term investing in underlying assets, FP Markets is the wrong door.
3. Raw spreads are competitive, not best-in-class. Fusion Markets, for example, charges a lower commission. FP Markets wins on the bundle of platforms, support and group licences, not on any single number.

If any of those three matter more than the trade-off you’re getting, compare FP Markets against alternatives before opening an account. If the bundle fits your profile, it is a solid pick.