FP Markets Account Types: A Guide for Beginners

FP Markets has been operating since 2005 and has built a reputation around tight pricing and fast execution, regularly ranking among the more cost-competitive brokers for active traders.

Despite offering access to more than 10,000 instruments across forex, indices, commodities, shares, and crypto, its core account lineup stays fairly simple: two main CFD accounts, Standard and Raw, both sharing the same $100 minimum deposit, plus a separate IRESS platform for direct share trading and an Islamic option available on either MetaTrader account.

The real differences come down to how you'd rather pay for trading, through the spread or through a separate commission, and whether you're after CFD exposure or actual share ownership. Here's what each one actually offers.

For a deeper look at FP Markets as a broker, its regulation, fees, and real user experiences, this FP Markets review from TopAsiaFX is worth reading.

Standard Account

This is FP Markets' entry-level account, and a solid starting point for beginners or casual traders. Spreads start from 1.0 pip, and there's no commission at all, the cost is built entirely into the spread.

The minimum deposit is $100, and you get access to MT4, MT5, and cTrader, along with more than 60 forex pairs, plus metals, indices, commodities, shares, and crypto CFDs.

Raw Account

This account suits scalpers, day traders, and anyone running algorithmic strategies who wants tighter pricing. Spreads start from 0.0 pips, with a commission of $3 per lot per side, working out to roughly $6 on a round-turn trade for forex and metals.

The minimum deposit is the same $100 as Standard, which is unusually accessible for an ECN-style account. This version also adds TradingView connectivity, something the Standard account doesn't include, alongside the same MT4 and MT5 platforms.

IRESS Account

This is a different product entirely, built for direct share trading rather than CFDs. It gives you access to over 10,000 global shares and ETFs with DMA-style execution, but it requires a considerably higher minimum deposit, generally starting around $1,000 AUD, with higher tiers like Platinum ($25,000 AUD) and Premier ($50,000 AUD) offering better pricing at larger account sizes.

Commissions are charged per share or as a percentage depending on the market, rather than the spread-and-commission model used on the Standard and Raw accounts. IRESS is geographically restricted and mainly available to Australian clients under ASIC.

Islamic (Swap-Free) Account

Both the Standard and Raw accounts can be converted to a swap-free version on MT4 or MT5, removing the interest-based overnight charge in line with Sharia principles. Instead of a swap, an administration fee applies to certain instruments after holding a position for a set number of days.

This option isn't available on IRESS at all, so if direct share trading matters to you, keep in mind the swap-free structure only applies to your CFD accounts.

Professional Account

For high-volume traders who meet specific eligibility criteria, generally involving trading frequency, portfolio size, or relevant financial experience, FP Markets offers a Professional classification with higher leverage and tailored conditions.

This comes with a notably higher entry point in some cases, and it also means giving up certain retail protections, so it's worth weighing the benefit carefully rather than assuming professional status is automatically better.

Demo Account

FP Markets offers a free demo account for both Standard and Raw account types, letting you test strategies and platform features with virtual funds before committing real money.

You don't need a live account first to open one, and it mirrors live market conditions closely enough to be genuinely useful for practice.

What's the Same Across MetaTrader Accounts?

Regardless of whether you choose Standard or Raw, you get negative balance protection, no inactivity fee, and no internal deposit or withdrawal fee, though international bank wires in non-AUD currencies can carry a small third-party charge.

Leverage goes up to 1:500 depending on your regulatory entity, generally capped much lower, around 1:30, under stricter regulators like ASIC and CySEC.

A Few Extra Details Worth Knowing

FP Markets provides free VPS hosting for eligible active traders, useful if you're running Expert Advisors and want consistent uptime. The broker also doesn't accept clients from the US, Japan, or New Zealand, so it's worth checking your own eligibility before registering.

One more thing worth flagging: FP Markets operates through several entities, including one in St. Vincent and the Grenadines that isn't independently regulated by any financial authority, offering wider access but less protection than the ASIC or CySEC-regulated entities. It's worth confirming which entity actually applies to you.

Which Account Should You Choose?

If you're new to trading or don't trade often, Standard keeps things simple with no commission to calculate. If you trade regularly, Raw usually works out cheaper overall once the tighter spread outweighs the commission.

If you're specifically interested in owning real shares rather than CFDs, IRESS is the option, though it requires meaningfully more capital to get started. And if you need swap-free trading, it's available as an add-on to either MetaTrader account.

A Few Tips Before You Choose

• Don't assume Raw is automatically better just because the spread looks tighter. If you trade infrequently, the commission can outweigh the benefit compared to Standard's simpler all-in-spread pricing.
• Check which regulatory entity applies to your country before assuming the leverage or protections described here apply exactly as written, since FP Markets' unregulated St. Vincent entity offers meaningfully less oversight than its ASIC or CySEC arms.
• If you're drawn to IRESS for share trading, budget for the higher minimum deposit from the start, since it's a different product with a different cost structure than the CFD accounts.
• Confirm whether you qualify for free VPS hosting if you're running automated strategies, since it can meaningfully improve execution consistency without extra cost.
• Use the demo account fully before going live, since it doesn't require a live account first and gives you a realistic sense of FP Markets' execution before real money is involved.