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FP Markets
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Mitrade

FP Markets vs Mitrade: which broker is better in 2026?

We compare FP Markets and Mitrade — two forex & CFD brokers — side by side across regulation, fees, platforms, minimum deposit, and our editorial scores. Based on our overall editorial score, FP Markets edges ahead (3.8/5), but the right choice depends on what matters most to you — check the breakdown below.

Side-by-side comparison

CriteriaFP MarketsMitrade
Overall score 3.8 3.6
Regulation & safety 3.5 3.5
Fees & deposit 4.0 4.0
Platform & assets 4.0 3.5
User support 3.5 3.5
Trust score74/10072/100
Minimum depositVaries by account type — check the official siteVaries by account type — check the official site
Demo accountAvailableAvailable
PlatformsMetaTrader 4, MetaTrader 5, cTrader, IRESSProprietary web platform, iOS/Android mobile app
Fee modelRaw spread + commission (Raw) or Standard; competitiveCommission-free, spread-only pricing (plus overnight funding on leveraged positions) — exact spreads not yet verified in detail

Pros & cons

FP Markets
  • ASIC/CySEC regulation + full platform selection (including IRESS for stocks)
  • Competitive raw spreads
  • Operating since 2005
  • The global entity (St. Vincent) is less strict than ASIC/CySEC
  • Mid-size brand, not a tier-1 giant
  • Leverage is high-risk
Mitrade
  • Multi-jurisdiction licensing (ASIC Australia, CySEC Cyprus, FSCA South Africa) with an easy, beginner-friendly proprietary platform
  • Commission-free spread-only pricing; Australian platform reportedly carries a Lloyd's of London excess-of-loss insurance policy (capped at AUD 1,000,000 for qualifying claims on insolvency)
  • Wide CFD coverage (forex, indices, commodities, crypto, ETFs, shares) on web + mobile, with demo accounts and modern payment options (Apple Pay/Google Pay in AU)
  • Regulatory history includes a 2023 ASIC interim stop order (later revoked) and a 2024 Philippines SEC advisory — worth reading before depositing
  • Own platform only — no MetaTrader 4/5 or cTrader for advanced/algorithmic traders
  • Leveraged CFDs are high-risk, and the UAE licence covers promotion only, not brokerage — entity coverage varies a lot by country

Regulation at a glance

FP Markets

Australian (2005) — regulated by ASIC (Australia), CySEC (Cyprus), FSA (St. Vincent for the global entity).

Mitrade

Operates through separate entities per region: Mitrade Global Pty Ltd (Australia) under ASIC; MiTrade EU Limited (Cyprus) under CySEC (licence 438/23, since 9 October 2023); a Financial Sector Conduct Authority (FSCA) entity in South Africa via the 2025 acquisition of Fridah Asset Managers (to be renamed Mitrade Markets Pty Ltd); plus a 2026 UAE Capital Markets Authority Category 5 licence limited to introduction/promotion only (NOT brokerage). Which entity serves you — and its protections — depends on your country. Verify directly with the relevant regulator before signing up.