Broker review · Checked 25 Oct 2026

FP Markets review 2026: is FP Markets legit in Kenya and South Africa?

FP Markets holds a CMA licence in Kenya (193) and an FSCA licence in South Africa (FSP 50926), and it offers the widest platform choice of the brokers we track. Pricing on its Raw account is low. In Kenya, check your client agreement: one 2026 review found Kenyan clients placed with an unregulated offshore company. M-Pesa is not confirmed.

Founded2005
🇰🇪 CMALicence 193
🇿🇦 FSCAFSP 50926
Minimum deposit$100
M-PesaNot confirmed

By D. Kalburov, editor · Licence data from the CMA and FSCA registers · How we review brokers

Is FP Markets regulated? Licence by country

🇰🇪 KenyaCMA licence 193

Regulator: Capital Markets Authority (CMA)
Local company: FP Markets Limited
Licence number: 193
M-Pesa: Not confirmed

🇿🇦 South AfricaFSCA licence FSP 50926

Regulator: Financial Sector Conduct Authority (FSCA)
Local company: FP Markets (Pty) Ltd
Licence number: FSP 50926

A licence means someone supervises the broker. It does not make trading safe: most retail CFD accounts lose money.

About FP Markets

Founded 2005 · Head office: Sydney, Australia

FP Markets started in Australia in 2005 and is regulated there by ASIC (AFSL 286354). It holds a CMA licence in Kenya through FP Markets Limited (193) and an FSCA licence in South Africa through FP Markets (Pty) Ltd (FSP 50926), with a Johannesburg office in Rosebank.

FXEmpire reported in October 2026 that Kenyan clients were being onboarded with FP Markets LLC, a company in St Vincent and the Grenadines with no regulator. If you sign up from Kenya, ask for FP Markets Limited and check that name on your agreement.

Who FP Markets suits, and who should look elsewhere

Good fit if you

want raw spreads and a commission model
use cTrader or TradingView
want no inactivity fee

Look elsewhere if you

need M-Pesa
want a broker that clearly keeps Kenyan clients with the CMA-licensed company

FP Markets account types and minimum deposit

Account	Minimum deposit	Pricing
Standard	$100	Spreads from 1.0 pip, no commission
Raw	$100	Spreads from 0.0 pips plus $6 per lot round turn

Minimum from FXStreet's 2026 review; FP Markets' own account page does not state it.

Leverage: Up to 1:500 on forex through non-Australian companies, per FXStreet. ASIC clients are capped at 1:30.

FP Markets fees: spreads, commission and other charges

Spreads	From 1.0 pip on Standard, from 0.0 on Raw
Commission	$3 per lot per side on Raw ($6 round turn)
Inactivity fee	None, per FXStreet
Deposits and withdrawals	No FP Markets fee; bank and processor fees may apply

Work out the cost of a trade before you place it with our pip value and profit and loss calculators.

FP Markets deposits and withdrawals in Kenya and South Africa

🇰🇪 Kenya

Licensed company: FP Markets Limited, CMA licence 193.
FXEmpire found Kenyan clients being onboarded with FP Markets LLC (St Vincent and the Grenadines, unregulated). Check the company on your agreement.
M-Pesa: not confirmed. A Kenyan comparison site says FP Markets does not offer it. Funding options are cards, bank wire, Skrill, Neteller and crypto.

🇿🇦 South Africa

FP Markets (Pty) Ltd holds FSP 50926 and has an office in Rosebank, Johannesburg.
Not found on the FSCA list of OTC derivative providers (checked 25 Oct 2026).

M-Pesa limits, rand EFT, cards, e-wallets and the payment scams to avoid: read our deposits and withdrawals guide.

FP Markets trading platforms

Copy trading through Myfxbook AutoTrade, MetaTrader Signals and ZuluTrade.

Is your money safe with FP Markets?

ASIC regulation for the Australian company, CMA in Kenya and FSCA in South Africa.
Segregated client funds and negative balance protection for eligible retail clients, per FXStreet.
The offshore onboarding reported for Kenya is the main risk to check.

FP Markets pros and cons

Pros

Licensed in Kenya and South Africa
Low raw-spread pricing
MT4, MT5, cTrader and TradingView
No inactivity fee

Cons

Reports of Kenyan clients placed with an unregulated company
M-Pesa not confirmed
Standard spreads on gold are wide

Our real-money test of FP Markets

Coming

We will open a FP Markets account, deposit, place a trade and withdraw, then publish the screenshots, the time each step took and every fee we paid.

FP Markets withdrawal time: reports from traders

How long do FP Markets withdrawals really take?

Loading reports…

Median of reports from traders. Not checked by us; our own tests are marked separately.

Withdrawal stuck or refused at FP Markets? Get a ready complaint letter and the right regulator contact with our complaint desk →

FP Markets: questions people ask

Is FP Markets regulated in Kenya?

Yes. In Kenya, FP Markets operates through FP Markets Limited, which holds CMA licence 193. Check that this company is named on your client agreement, not an offshore company of the same brand.

Is FP Markets regulated by the FSCA in South Africa?

Yes. In South Africa, FP Markets operates through FP Markets (Pty) Ltd, which holds FSCA licence FSP 50926. Check that this company is named on your client agreement, not an offshore company of the same brand.

What is the FP Markets minimum deposit?

$100 on Standard and Raw accounts, according to FXStreet's 2026 review.

Does FP Markets accept M-Pesa?

Not confirmed. A Kenyan comparison site says it does not.

Does FP Markets charge an inactivity fee?

No, according to FXStreet.

Is FP Markets regulated by the FSCA?

Yes. FP Markets (Pty) Ltd holds FSP 50926.

Sources for this review (checked 25 Oct 2026)

Fees, minimums and payment methods change and can differ by the company you sign with. Confirm them on the broker's site before you deposit. Spotted something out of date? Tell us.