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Head to head

FP Markets vs XChief

FP Markets is licensed by ASIC in Australia, CySEC in the European Union and CMA in Kenya, and also has an offshore registration. XChief 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.

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); XChief costs about $7 (xPRIME account: 0.1 pips plus $6 commission). On these typical figures XChief is $0.9 cheaper per lot, or $9 a month at 10 lots. Swap and other fees are extra.

Minimum deposits start at $100 at FP Markets and $0 at XChief (the xPRIME account needs $500). Both offer negative balance protection and segregated client money.

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

FP Markets profileXChief 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
XChiefRead the profile
Comparing
FP MarketsRaw account · Australia
XChiefxPRIME account

Overview

Founded
2005
Not yet checked
Headquarters
Sydney, Australia
Fomboni, Mwali (Comoros)
Official websites
  • fpmarkets.com
  • fpmarkets.eu
  • fpmarkets.co.ke
  • xchief.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
$70$7 per lot × 10 lots
Cost per lot (EUR/USD)
$7.9
$7
Spread from
0.0 pips
0.0 pips
Typical EUR/USD spread
0.2 pips
0.1 pips
Commission per lot (round turn)
$6
$6
Typical GBP/USD spread
0.5 pips
0.3 pips
Typical USD/JPY spread
0.6 pips
0.2 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
Up to 1:1000 on forex (lower as account equity rises)
Retail leverage by asset class
  • Major currency pairs (Australia: 1:30
  • Currency pairs (international companies): up to 1:500
  • Forex (equity under $3: 1:1000
  • Metals (equity under $3: 1:500
  • Commodities and indices (equity under $3: 1:50
  • Cryptocurrencies: 1:5
  • US shares: 1:2
Margin call level
Not yet checked
Not yet checked
Stop-out level
Not yet checked
30% (CENT, Classic+, DirectFX); 50% (xPRIME)

Account

Minimum deposit (this account)
$100
$500
Base currencies
Not yet checked
USD, EUR, GBP
Execution
Raw spread plus US$3 commission per lot each way (MT4, MT5, cTrader, TradingView)
Market execution, MetaTrader 5, $3 / €3 / £3 commission per side on forex and metals

Platforms and features

Platforms
  • MetaTrader 4
  • MetaTrader 5
  • cTrader
  • TradingView
  • WebTrader
  • MetaTrader 4
  • MetaTrader 5
  • xChief mobile app
Markets
70+ currency pairs, metals, indices, commodities, share CFDs and crypto CFDs
Up to 32 currency pairs, metals, commodities, indices, cryptocurrencies and 95 US share CFDs (xPRIME account)
Demo account
Yes
Yes
Copy trading
Not yet checked
Yes
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 transfer (SWIFT
  • SEPA
  • FPS)
  • Cryptocurrency
Withdrawal fee
Not yet checked
The deposit page lists 0% for bank transfer and crypto; the agreement allows extra fees if you deposit and withdraw without trading
Inactivity fee
Not yet checked
$20 one-off, then $20 a month, while an account is inactive

Support

Customer support
Not yet checked
24/7 by live chat, Telegram, WhatsApp, Viber and email

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
  • Four account types, including a cent account with no minimum deposit
  • Negative balance protection and segregated client money are stated in its risk disclosure
  • Leverage is cut automatically as account equity grows, which limits the size of positions on larger accounts
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 xChief Ltd holds Mwali International Services Authority (MISA) licence T2023379; we could not confirm it on MISA's register on 2026-10-20 (the register blocked automated access).
  • Says xChief ZA (Pty) Ltd is authorised by the FSCA as FSP 54829; we could not confirm it on the FSCA register on 2026-10-20 (the register could not be reached). That company only introduces clients; accounts are opened with xChief Ltd in Comoros.
  • Leverage up to 1:1000 and heavy use of bonuses, no-deposit offers and trading credits
  • Inactive accounts pay $20 and then $20 a month

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.

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.

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