Overview
FP Trading is the offshore/partner brand of the FP Markets group — the same broker family, the same ECN infrastructure, and almost identical trading conditions to the well-known FP Markets, but operated through separate, purely offshore-regulated entities. For algo and EA traders this means tight raw spreads, a flat commission, up to 1:500 leverage with no EU cap, and explicit EA support. The trade-off is a thinner regulatory framework — and that is precisely the central consideration of this review.
Regulation & Safety
FP Trading operates through several offshore entities: FP Trading (MU) Ltd, licensed by the FSC Mauritius (GB26205878), and FPK Trading (Pty) Ltd, licensed by the FSCA South Africa (52858). FP Trading LLC is merely registered with the FSA St. Vincent (126 LLC 2019) — the FSA SVG does not supervise forex business. FP Trading Ltd is likewise "registered" with the FSRA St. Lucia (2026-00106), plus a CMA registration in the UAE (20200000467) for promotion. Unlike the main FP Markets brand, there is no top-tier supervision (no ASIC, no CySEC). There is no EU licence; EU clients open accounts on their own initiative. This is an established offshore setup, of the kind many international brokers use for non-EU clients, but it offers only a moderate level of protection. As of 30 September 2026: the St. Vincent and St. Lucia entries are registrations, not supervisory licences.
Client funds are held segregated. FP Trading also advertises Lloyd's of London cover up to 1M USD — according to the provider it applies to fraud, operational errors, and system failures and is not deposit protection. A sensible safety net, though it does not replace EU investor compensation. We therefore rate the regulation at the lower end of the established offshore class.
Costs
The Raw account delivers raw spreads from 0.0 pips with a commission of 3.00 USD per lot per side (2.75 EUR or 2.25 GBP in EUR/GBP accounts) — 6.00 USD round-trip, or effectively around 0.6 pips on EUR/USD. That is on par with the strongest ECN brokers and identical to FP Markets' raw pricing. The Standard account foregoes commission but calculates spreads from 1.0 pips — not an option for scalpers or EA portfolios. Both accounts start at a 100 USD minimum deposit.
Execution
FP Trading uses the FP Markets group's ECN pricing with access to Tier-1 liquidity providers (including Goldman Sachs, J.P. Morgan, Citi, Barclays). In practice this means low latency, minimal slippage, and no dealing-desk intervention. Execution quality solidly covers latency-sensitive EAs and scalping strategies. We apply a slight deduction relative to the top brokers on our list because FP Trading — unlike FP Markets — does not communicate a separately documented Equinix NY4/LD4 co-location for the offshore entity.
EA & Algo Suitability
From an algo perspective, FP Trading is strongly positioned: EAs are explicitly supported on both the Raw and Standard accounts, MT4, MT5, and cTrader are available, and the broker's own FP Trader platform with TradingView charts has been added. We found no explicit rule on scalping and hedging on the official pages — if your strategy depends on it, have support confirm it in advance. A VPS in a London data centre is available and requested via a form; FP Trading does not state its costs or any conditions for free use. This allows multi-EA portfolios to run around the clock without leaving a personal machine on. Compared with the main brand, IRESS is missing — acceptable for pure MT4/MT5 and cTrader EAs.
Conditions, Deposits & Support
The minimum deposit is 100 USD, and leverage reaches up to 1:500. Deposits and withdrawals cover cards, bank transfers, and crypto (USDT); support is multilingual and, according to the broker, available around the clock. Swap-free Islamic accounts are available. Deductions stem mainly from the offshore regulation and the somewhat narrower tool and platform offering relative to FP Markets.
Verdict
FP Trading delivers the EA-friendly ECN conditions of the FP Markets group — tight raw spreads, a flat commission, up to 1:500 leverage, and explicit EA support — wrapped in a purely offshore structure. Traders seeking high leverage without an EU cap and low costs, who can live with a Mauritius licence (plus mere registrations in St. Vincent and St. Lucia), will find a solid algo broker here. Those prioritising top-tier supervision (ASIC/CySEC) should instead choose the main FP Markets brand or IC Trading. The Lloyd's cover up to 1M USD protects against fraud, operational errors, and system failures, but it is not deposit protection and does not eliminate the regulatory risk.