FP Trading vs FP Markets 2026: Are They the Same Broker?
Broker Review
By Ken Chigbo, Founder, KenMacro, 18+ years in markets.
Updated 2026-05-18
The desk’s verdict
FP Trading and FP Markets are part of the same group, First Prudential Markets, but they are not the same regulated broker, and the difference is the whole answer. FP Markets operates ASIC regulated and CySEC regulated entities with the statutory retail protections those regimes carry. FP Trading is the offshore brand, registered through FSC Mauritius and FSCA South Africa with a St Vincent base, with no ASIC, CySEC or FCA regulation, partly offset by Financial Commission membership and a Lloyd’s insurance policy. Existing clients were migrated to the FP Trading portal in some regions, which is why traders ask if they are the same. Same heritage, different regulatory perimeter. Choose on which regulatory tier the account actually sits, not on the shared name.
Why traders are confused
The confusion is real and well documented. FP Markets emailed clients in some regions directing them to log in at the FP Trading portal using their existing credentials, and traffic from the main FP Markets site has been redirected to FP Trading for those regions. When an established broker migrates clients to a new domain under a similar name, traders reasonably ask whether anything material changed. The honest answer is that the brand heritage is shared but the regulatory perimeter is not, and that is the part that matters before funding.
The difference that actually matters
FP Markets, on its ASIC and CySEC entities, gives a retail trader the statutory protections of those regimes: segregated funds under Tier-1 supervision, leverage caps, conduct rules and a compensation route. FP Trading, the offshore brand registered through FSC Mauritius and FSCA South Africa, does not carry those Tier-1 licences. It substitutes voluntary protections, Financial Commission membership with a dispute fund and a one million dollar Lloyd’s policy covering fraud and operational failure but not trading losses. That substitution is the entire decision. It is not a downgrade for every trader, but it is a different risk profile and it must be stated, not blurred.
Which one a trader should choose
A trader whose first requirement is Tier-1 regulation should use the ASIC or CySEC FP Markets entity, that is the honest answer and the desk gives it plainly. A trader who specifically wants offshore conditions, higher leverage than Tier-1 entities allow, and who accepts that trade-off with the Financial Commission and Lloyd’s cover as partial mitigation, is the trader FP Trading is built for. The wrong way to choose is on the shared brand name. The right way is to read the legal entity on the account-opening page and decide on the regulatory tier it sits in. A useful test: write down what is being given up and what is being gained. Moving from the ASIC or CySEC entity to the offshore brand gains higher available leverage and lighter onboarding and gives up a statutory compensation scheme and Tier-1 conduct supervision, with Financial Commission and Lloyd’s cover filling part, not all, of that gap. If that exchange reads as acceptable for the size being traded, FP Trading is a reasonable choice. If it does not, the Tier-1 entity is the answer and no spread advantage changes that.
How to verify which entity you are actually on
Because the two share a brand, the only reliable way to know which one holds an account is to read the client agreement during sign-up, not the marketing pages. The legal entity name and its jurisdiction appear in the terms a trader accepts before funding. For the FP Markets ASIC or CySEC route the entity ties to the Australian or Cypriot licence and its public register entry. For FP Trading the entity ties to the FSC Mauritius and FSCA South Africa registration with a St Vincent base. Match whatever name appears to the relevant regulator register and confirm it is active for the activity. This single check, done before the deposit, settles the FP Trading versus FP Markets question more reliably than any comparison table, because it reports the actual regulatory tier of the actual account rather than the brand on the homepage.
Frequently asked
Are FP Trading and FP Markets the same company?
They belong to the same group, First Prudential Markets, but they are different entities with different regulation. FP Markets runs ASIC and CySEC regulated entities. FP Trading is the offshore brand registered through FSC Mauritius and FSCA South Africa with a St Vincent base, with no ASIC, CySEC or FCA licence.
Why did FP Markets become FP Trading for me?
FP Markets migrated clients in certain regions to the FP Trading offshore brand and portal. The account heritage is shared, but the entity holding the account, and therefore the regulatory protection that applies, changed. Confirm the entity on the account-opening documents.
Is FP Trading safer than FP Markets?
On regulation, the ASIC or CySEC FP Markets entity carries stronger statutory protection than the offshore FP Trading brand. FP Trading offsets some of that with Financial Commission membership and Lloyd’s insurance, but those are voluntary protections, not a Tier-1 equivalent. Safer depends on whether a trader values Tier-1 regulation or offshore conditions.
Which should I choose, FP Trading or FP Markets?
If Tier-1 regulation is the priority, the ASIC or CySEC FP Markets entity. If offshore conditions and higher leverage are the priority and the trade-off is understood, FP Trading. Decide on the regulatory tier the account sits in, not on the shared brand name.
Defined term: Regulatory perimeter
A regulatory perimeter is the boundary of which activities and entities a given regulator actually supervises. A broker group can sit partly inside a Tier-1 perimeter, through an ASIC or CySEC entity, and partly outside it, through an offshore entity that shares the brand but not the licence. The perimeter, not the trading name, determines the statutory protections that apply to a specific account, which is why two products from the same group can carry materially different client protection.
KenMacro has a commercial partnership with FP Trading and may earn a commission if you open an account through the links on this page. FP Trading is the offshore brand of the FP Markets group, it does not hold ASIC, CySEC or FCA regulation, and the desk states that openly rather than implying Tier-1 cover it does not have. Editorial analysis only, not financial advice. Verify regulation and live cost yourself before funding.
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