Plain-English forex education. No hype, no signals.فارسی
BrokerCutForex Academy

Head to head

FP Markets vs ThinkMarkets

FP Markets is licensed by ASIC in Australia, CySEC in the European Union and CMA in Kenya, and also has an offshore registration. ThinkMarkets is licensed by FCA in the United Kingdom; CySEC in the European Union; ASIC in Australia; DFSA in Dubai (DIFC), UAE and FSCA in South Africa, and also has an offshore registration. The licence that applies to you depends on where you live, so check which company you would contract with before comparing anything else.

On its cheapest account per lot, FP Markets costs about $7.9 per standard lot on EUR/USD (Raw account: 0.2 pips plus $6 commission); ThinkMarkets costs about $11 (Standard account: 1.1 pips, no commission). On these typical figures FP Markets is $3.1 cheaper per lot, or $31 a month at 10 lots. Swap and other fees are extra.

Minimum deposits start at $100 at FP Markets and $10 at ThinkMarkets (the Standard account needs $50). Only FP Markets offers negative balance protection. Both offer segregated client money.

Facts last checked: FP Markets on 20 October 2026, ThinkMarkets on 20 October 2026.

FP Markets profileThinkMarkets profile
Broker 1
Broker 2
Broker 3

Monthly cost uses the account chosen in each slot: cost per lot × your lots. Swap and other fees are extra. The lowest monthly cost is highlighted only as a fact about cost, not as a recommendation.

Broker
FP MarketsStrictly regulatedRead the profile
ThinkMarketsStrictly regulatedRead the profile
Comparing
FP MarketsRaw account · Australia
ThinkMarketsStandard account · United Kingdom

Overview

Founded
2005
2010
Headquarters
Sydney, Australia
Not yet checked
Official websites
  • fpmarkets.com
  • fpmarkets.eu
  • fpmarkets.co.ke
  • thinkmarkets.com
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
First Prudential Markets Pty Ltd
TF Global Markets (UK) Limited
Regulator
ASIC
Australia
FCA
United Kingdom
Regulation level
Strictly regulated
Strictly regulated
Licence number
AFSL 286354
Check the register
629628
Check the register
Clients this company serves
Australian residents
UK residents
All licences held
  • ASIC (Australia)
  • CySEC (European Union)
  • CMA (Kenya)
  • FSA Seychelles (Seychelles)
  • FCA (United Kingdom)
  • CySEC (European Union)
  • ASIC (Australia)
  • DFSA (Dubai (DIFC), UAE)
  • FSCA (South Africa)
  • FSA Seychelles (Seychelles)
Segregated client money
Yes
Yes
Negative balance protection
Yes
No
Compensation scheme
ICF up to €20,000 (Cyprus company); none for the Australian, Seychelles or Saint Lucia companies
FSCS up to £85,000 (UK); ICF up to €20,000 (Cyprus); none for the Seychelles company

Costs

Your monthly cost
$79$7.9 per lot × 10 lots
$110$11 per lot × 10 lots
Cost per lot (EUR/USD)
$7.9
$11
Spread from
0.0 pips
0.4 pips
Typical EUR/USD spread
0.2 pips
1.1 pips
Commission per lot (round turn)
$6
None
Typical GBP/USD spread
0.5 pips
1.3 pips
Typical USD/JPY spread
0.6 pips
1.4 pips
Typical XAU/USD spread
10 cents
Not yet checked
Swap-free account
Yes
Yes

Leverage and margin

Maximum retail leverage
1:30 on major pairs (Australia, EU); up to 1:500 at the international companies
1:30 on major pairs (UK, EU, Australia); up to 500:1 (2500:1 on ThinkTrader) at the Seychelles company
Retail leverage by asset class
  • Major currency pairs (Australia: 1:30
  • Currency pairs (international companies): up to 1:500
  • Major currency pairs (UK: 1:30
  • Currency pairs: up to 500:1
  • ThinkTrader account (Seychelles company): up to 2500:1
Margin call level
Not yet checked
Not yet checked
Stop-out level
Not yet checked
50% (forced liquidation level)

Account

Minimum deposit (this account)
$100
$50
Base currencies
Not yet checked
USD, USDt, AUD, GBP, EUR, SGD, CHF
Execution
Raw spread plus US$3 commission per lot each way (MT4, MT5, cTrader, TradingView)
Spread only, no commission (MT4, MT5)

Platforms and features

Platforms
  • MetaTrader 4
  • MetaTrader 5
  • cTrader
  • TradingView
  • WebTrader
  • ThinkTrader
  • MetaTrader 4
  • MetaTrader 5
  • TradingView
Markets
70+ currency pairs, metals, indices, commodities, share CFDs and crypto CFDs
Forex, commodities, indices, crypto, stocks, ETFs and futures CFDs (up to 4,000 instruments on ThinkTrader)
Demo account
Yes
Yes
Copy trading
Not yet checked
Not yet checked
Expert advisors (automated trading)
Yes
Yes
News trading allowed
Not yet checked
Not yet checked
Guaranteed stops
Not yet checked
Not yet checked

Deposits and withdrawals

Deposit methods
  • Bank wire
  • Visa
  • Mastercard
  • Skrill
  • Neteller
  • Crypto
  • Broker-to-broker transfer
  • Bank wire
  • Visa
  • Mastercard
  • Apple Pay
  • Google Pay
  • Neteller
  • Crypto
Withdrawal fee
Not yet checked
No fee on any funding method (international site)
Inactivity fee
Not yet checked
Not yet checked

Support

Customer support
Not yet checked
Not yet checked

Our notes

Strengths
  • Licensed by ASIC and CySEC, with retail client money held separately from company funds
  • Publishes average spreads per account (EUR/USD 1.29 pips Standard, 0.19 pips Raw)
  • Wide platform choice, including cTrader and TradingView
  • Licensed by the FCA, CySEC and ASIC, with client money in segregated accounts
  • Publishes target (typical) spreads for the Standard account, such as 1.1 pips on EUR/USD
  • No deposit or withdrawal fees on the international site's funding methods
Watch out for
  • The international website is operated by FP Markets Ltd, a Saint Lucia company (registration 2025-00853) that holds no financial licence; check which company your client agreement names.
  • International clients may be placed with the Seychelles company (offshore tier), with leverage up to 1:500 and no compensation scheme
  • Says FP Markets (Pty) Ltd is an FSCA-authorised financial services provider (FSP 50926); we could not confirm it on the FSCA register on 2026-10-20 because the register could not be reached.
  • International clients join TF Global Markets Int Limited in the Seychelles (offshore tier), where leverage goes up to 2500:1 on ThinkTrader and losses can exceed deposits
  • ThinkMarkets also says it is licensed by CIMA, an FSC, an FMA and (on its South African company) FSCA FSP 49835, without naming every company; we could not confirm these on 2026-10-20. Its FSCA OTC derivative provider approval is confirmed.
  • The ThinkZero minimum deposit is shown as $100 on the account types page and $500 on the ThinkZero page; ask before you fund.

Risk warnings

The buttons to a broker’s website above the table are partner links: we may earn a commission if you open an account through them. That never changes the facts shown here. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Each broker’s own warning:

  • FP Markets: Derivative products are highly leveraged, carry a high level of risk and may not be appropriate for all investors. The legal documents should be considered before entering into transactions with us.
  • ThinkMarkets: Derivative products are leveraged products and can result in losses that exceed initial deposits. Please ensure you fully understand the risks and take care to manage your exposure and seek independent advice if necessary.

Open this comparison in the full tool to share a link with your own accounts and companies chosen.

Other head-to-head pages

Cost per lot is the typical EUR/USD spread in busy hours × $10, plus any round-turn commission, for one standard lot. “Not yet checked” means we have not confirmed that fact yet. This page compares facts; it does not rank the brokers or recommend either. Confirm costs and licences on each broker’s site and the regulator’s public register before opening an account: see how we review brokers and check a broker yourself.

Nothing on this page is financial advice. Read the full disclaimer.

BrokerCut on Telegram

Get the latest forex news and market analysis.

Join the channel