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Head to head

FP Markets vs WM Markets

FP Markets is licensed by ASIC in Australia, CySEC in the European Union and CMA in Kenya, and also has an offshore registration. WM Markets has no licence we could confirm on a regulator's register. The licence that applies to you depends on where you live, so check which company you would contract with before comparing anything else.

Minimum deposits start at $100 at FP Markets and $50 at WM Markets. Both offer negative balance protection and segregated client money.

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

FP Markets profileWM Markets 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
WM MarketsRead the profile
Comparing
FP MarketsRaw account · Australia
WM Markets

Overview

Founded
2005
Not yet checked
Headquarters
Sydney, Australia
Fomboni, Mwali (Comoros)
Official websites
  • fpmarkets.com
  • fpmarkets.eu
  • fpmarkets.co.ke
  • wmmarkets.com
  • en.wmmarkets.com
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
First Prudential Markets Pty Ltd
No licence listed
Regulator
ASIC
Australia
No licence listed
Regulation level
Strictly regulated
No licence listed
Licence number
AFSL 286354
Check the register
No licence listed
Clients this company serves
Australian residents
No licence listed
All licences held
  • ASIC (Australia)
  • CySEC (European Union)
  • CMA (Kenya)
  • FSA Seychelles (Seychelles)
None listed
Segregated client money
Yes
Yes
Negative balance protection
Yes
Yes
Compensation scheme
ICF up to €20,000 (Cyprus company); none for the Australian, Seychelles or Saint Lucia companies
None

Costs

Your monthly cost
$79$7.9 per lot × 10 lots
No accounts listed
Cost per lot (EUR/USD)
$7.9
No accounts listed
Spread from
0.0 pips
No accounts listed
Typical EUR/USD spread
0.2 pips
No accounts listed
Commission per lot (round turn)
$6
No accounts listed
Typical GBP/USD spread
0.5 pips
Not yet checked
Typical USD/JPY spread
0.6 pips
Not yet checked
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
Up to 1:2000 (dynamic, set per instrument)
Retail leverage by asset class
  • Major currency pairs (Australia: 1:30
  • Currency pairs (international companies): up to 1:500
Not yet checked
Margin call level
Not yet checked
100%
Stop-out level
Not yet checked
20%

Account

Minimum deposit (this account)
$100
No accounts listed
Base currencies
Not yet checked
No accounts listed
Execution
Raw spread plus US$3 commission per lot each way (MT4, MT5, cTrader, TradingView)
No accounts listed

Platforms and features

Platforms
  • MetaTrader 4
  • MetaTrader 5
  • cTrader
  • TradingView
  • WebTrader
  • MetaTrader 4
  • MetaTrader 5
  • WM Markets mobile app
  • MT4 WebTrader
Markets
70+ currency pairs, metals, indices, commodities, share CFDs and crypto CFDs
CFDs on forex, metals, indices, energies, commodities, treasuries, shares, ETFs and cryptocurrencies
Demo account
Yes
Yes
Copy trading
Not yet checked
Yes
Expert advisors (automated trading)
Yes
Not yet checked
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
Not yet checked
Withdrawal fee
Not yet checked
Not published; the agreement allows transfer-related and termination fees
Inactivity fee
Not yet checked
Accounts with no trading for six months are disabled and may pay maintenance charges (amount not published)

Support

Customer support
Not yet checked
24/5 multilingual support by live chat

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
  • Negative balance protection is written into the client agreement
  • The agreement says client money is kept apart from the company's own funds
  • Says it holds a client funds insurance policy of up to $1,000,000
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.
  • Says WM Markets Ltd holds MISA licence BFX2024009; we could not confirm it on MISA's register on 2026-10-20 (the register blocked automated access).
  • The agreement gives the company a lien over client assets and lets it pledge or reinvest assets held for clients
  • Leverage up to 1:2000, and payment methods and withdrawal fees are not listed on the public website
  • Inactive accounts are disabled after six months and may be charged maintenance fees that are not published

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.
  • WM Markets: Contracts for Difference (CFD) are complex financial instruments carrying a substantial level of risk and may not be suitable for all investors, as may result in the loss of all invested capital rapidly due to leverage. You should consider whether you understand how CFDs work, your investment objectives, level of experience, risk appetite, and, if necessary, seek advice from an independent financial advisor.

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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.

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