Checked on: 2026-08-17 | Broker terms, regulation, and pricing can change. Always verify at the official PU Prime site before opening an account.

Affiliate Disclosure: HNL Growth may earn a commission if you open an account through our links, at no additional cost to you. Risk Warning: CFDs and leveraged forex products are complex instruments and carry a high risk of losing money rapidly due to leverage. 62.2% of retail investor accounts lose money when trading CFDs with this provider. Trading forex and CFDs may not be suitable for all investors. Consider your objectives, experience, and risk appetite before trading, and ensure you understand the risks involved. Broker Disclosure: PU Prime is a live, regulated multi-entity broker (not a simulated prop-firm evaluation) — trades are executed with real capital in live market conditions, subject to normal market risk. Which PU Prime entity holds your account depends on your country of residence and determines your leverage cap and protections.

Last verified: August 2026 | Editorial Team

PU Prime vs FP Markets 2026: Fees, Platforms and Regulation Compared

PU Prime and FP Markets serve overlapping markets but are genuinely different brokers. FP Markets holds ASIC regulation — a material advantage for traders in Australia who want stronger client-money rules and dispute access. PU Prime operates under FSA Seychelles (SD050) as its primary entity, with additional licences including FSCA (South Africa), CMA (UAE), FSC (Mauritius), and a CySEC entity for EU clients, offering wider regional reach and a lower entry threshold. The two brokers share MT4 and MT5 support but diverge on platform depth: FP Markets advertises cTrader and Iress; PU Prime offers a proprietary app and PU Social copy trading. Neither broker is universally better. The right choice depends on your jurisdiction, account type, trading style, and platform preference.

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Disclosure: This page may contain affiliate links. We may earn a commission if you open an account through our links, at no extra cost to you.

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Quick Comparison Snapshot

PU Prime figures are sourced from official PU Prime pages and labelled as typical or advertised conditions. FP Markets figures were not retrieved from official FP Markets sources for this review — all FP Markets cells are labelled accordingly. Spreads are variable; live quotes will differ. Verify current figures at each broker's official website before opening an account.

Feature	PU Prime	FP Markets
Primary regulator	FSA Seychelles (SD050)	ASIC — verify active licence on ASIC Connect Online
Additional regulated entities	FSCA (South Africa), CMA (UAE), FSC (Mauritius), CySEC (EU)	CySEC, FSCA, FSA Seychelles — verify licence numbers on respective registers
Min deposit — entry accounts	$20 (Cent); $50 (Standard) — confirmed from official account guide	Not confirmed — verify on FP Markets official account page
Min deposit — professional accounts	$1,000 (Prime); $10,000 (ECN) — confirmed from official account guide	Not confirmed — verify on FP Markets official account page
EURUSD spread — standard account	Advertised from 1.3 pips (typical, variable)	Not confirmed — verify on FP Markets official conditions page
EURUSD spread — raw/ECN account	Advertised from 0.0 pips (Prime/ECN, typical, variable)	Not confirmed — verify on FP Markets official conditions page
Commission — Prime account (round-turn)	$7.00/lot ($3.50 each side) — confirmed from official spreads page	Not confirmed — verify on FP Markets official conditions page
Commission — ECN account (round-turn)	$3.00/lot ($1.50 each side) — confirmed from official spreads page	Not confirmed — verify on FP Markets official conditions page
Platforms	MT4, MT5, PU Prime proprietary app	MT4, MT5, cTrader (advertised on Raw account), Iress (AU entity, advertised) — verify per account type on FP Markets official page
Copy/social trading	PU Social (proprietary) — $25 minimum per signal provider	Available — feature depth not confirmed from official sources
Max leverage — ASIC entity	Not applicable (no ASIC entity)	1:30 retail (ASIC) — verify on FP Markets official page
Max leverage — offshore entity	Up to 1:500 (FSA Seychelles)	Not confirmed — verify on FP Markets official page
24/7 support	Confirmed across official PU Prime pages	Advertised — not confirmed from official FP Markets sources for this review
Instrument count	200+ (advertised)	10,000+ (advertised; figure largely driven by Iress share offering)

Note: PU Prime figures are sourced from PU Prime's official spreads page and account opening guide. FP Markets commission, deposit, and spread figures were not retrieved from official FP Markets sources for this review. Verify all FP Markets figures directly on FP Markets' official website before opening an account — conditions are subject to change.

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Regulatory Standing and Client Protections

Regulation is the first filter for any broker comparison — not because a licence guarantees safety, but because the regulatory entity determines which client-money rules, compensation schemes, and dispute mechanisms apply to your account.

Which entity covers your jurisdiction?

Trader's region	PU Prime entity	PU Prime regulator	FP Markets entity	FP Markets regulator	Key protection difference
Australia	Not available (no ASIC entity)	—	First Prudential Markets Pty Ltd (advertised)	ASIC — verify active licence on ASIC Connect Online	FP Markets ASIC entity: segregated client funds, AFCA dispute access, retail leverage capped at 1:30. PU Prime has no ASIC-regulated offering.
European Union / Cyprus	PU Prime Ltd	CySEC	FP Markets Ltd (advertised)	CySEC — verify licence number on CySEC register	Both CySEC-regulated for EU clients; negative balance protection mandatory; ESMA leverage caps apply
South Africa	PU Prime (Pty) Ltd	FSCA	FP Markets (Pty) Ltd (advertised)	FSCA — verify FSP number on FSCA register	Both FSCA-regulated locally — confirm current FSP numbers on the FSCA register
UAE	PU Prime LLC	CMA UAE	Not confirmed for UAE-specific entity	—	Confirm entity applicability with FP Markets before depositing
Seychelles / offshore	Prime Intermarket Ltd	FSA Seychelles (SD050)	First Prudential Markets Ltd (advertised)	FSA Seychelles	Offshore entity: no investor compensation scheme, lighter client-money rules than ASIC or CySEC
Most other regions	FSA Seychelles or FSCA entity (varies by onboarding)	FSA / FSCA	FSA Seychelles entity (advertised)	FSA Seychelles	Protections lighter than ASIC; confirm your onboarding entity before depositing

Important: PU Prime's regulatory details are published at puprime.com/regulation. That page confirms licences from FSA Seychelles (SD050), FSC Mauritius, FSCA (South Africa), and CMA (UAE), and references a CySEC entity for EU clients. Cross-check all licence numbers against the relevant regulator's own public register before depositing — licence status can change.

FP Markets' ASIC and CySEC licences should be verified directly on ASIC's Connect Online register and the CySEC register respectively. This review did not retrieve FP Markets' official regulatory page, and FP Markets' licence numbers are not confirmed from FP Markets' own documentation for this review.

The key asymmetry for Australian traders: FP Markets is the only viable choice between these two brokers for an ASIC-regulated account. PU Prime does not hold an ASIC licence and cannot offer ASIC-regulated accounts in Australia. For traders outside Australia, both brokers may operate through non-ASIC entities with materially different protections — verify which entity will onboard your jurisdiction before depositing.

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What Your Trade Actually Costs

Cost comparison is only meaningful when you specify the account type, asset, and whether commission is included. A broker with lower raw spreads may still cost more all-in if its commission is higher.

Spread comparison by asset and account type

PU Prime figures are typical or advertised values sourced from PU Prime's official spreads page. Spreads are variable and widen during low-liquidity sessions. The PU Prime spreads page notes that all listed values are for reference only; check MT4/MT5 or the PU Prime app for the most accurate current values. FP Markets figures were not retrieved from official FP Markets sources for this review.

Asset	PU Prime Standard (advertised typical)	PU Prime Prime/ECN (advertised typical)	FP Markets Standard	FP Markets Raw
EURUSD	From 1.3 pips	From 0.0 pips	Not confirmed — verify on FP Markets official page	Not confirmed — verify on FP Markets official page
GBPUSD	From 1.5 pips	From 0.0 pips	Not confirmed	Not confirmed
USDJPY	From 1.3 pips	From 0.0 pips	Not confirmed	Not confirmed
XAU/USD (Gold)	Variable — check live platform	Variable — check live platform	Not confirmed	Not confirmed

Spread values are variable and not guaranteed. Check live pricing within the trading platform at the time of execution.

All-in cost worked example: 1 lot EURUSD (PU Prime only)

Because FP Markets' spread and commission figures were not retrieved from official sources for this review, a meaningful FP Markets column cannot be provided. Do not make a cost-based broker decision from this table alone — retrieve FP Markets' official conditions and compare the all-in cost (spread plus commission) for the specific account type available to you.

Standard account — PU Prime

Cost component	PU Prime Standard
Spread at entry (advertised typical 1.3 pips × $10/pip)	~$13.00
Round-turn commission	$0 (spread-only account)
Overnight swap	Variable — check live swap table in platform
Estimated entry spread cost (excl. swap)	~$13.00 (advertised typical; variable in practice)

Prime account — PU Prime

Cost component	PU Prime Prime account
Spread at entry (~0.0 pip typical, variable)	~$0–$2.00 (variable)
Round-turn commission	$7.00 ($3.50 × 2) per PU Prime spreads page
Overnight swap	Variable — check live swap table
Estimated entry cost (excl. swap)	~$7–$9.00 (advertised typical; variable in practice)

The PU Prime ECN account carries the lowest confirmed commission in this comparison at $3.00 round-turn ($1.50 each side), but requires a $10,000 minimum deposit — a threshold that materially changes the calculus for most retail traders.

Swap rates are variable and change daily. Do not use any static swap figure for cost planning — check the live swap table in your platform before holding positions overnight.

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Platforms and Execution Environment

Platform availability varies by broker and, in some cases, by account type. This matters if you have an existing workflow built around a specific platform.

Platform availability

Platform	PU Prime	FP Markets
MT4	✓ (all account types) — confirmed	Advertised — verify account type availability on FP Markets official page
MT5	✓ (all account types) — confirmed	Advertised — verify account type availability
cTrader	✗	Advertised on Raw account — not confirmed from official FP Markets source; verify before relying on this
Iress	✗	Advertised (AU entity only) — not confirmed from official FP Markets source; verify eligibility and execution type
TradingView integration	✗	Advertised — not confirmed from official FP Markets source for this review
PU Prime proprietary app	✓ (all account types) — confirmed	✗
MetaTrader Web terminal	✓ — confirmed	Advertised — verify on FP Markets official page

Sources for PU Prime: MT4 page, MT5 page, trading app page. FP Markets platform details are not confirmed from official FP Markets sources for this review — verify directly on FP Markets' official platform pages before treating any FP Markets platform entry as a confirmed feature.

Key observations:

• cTrader is not available at PU Prime. If cTrader is your preferred platform, FP Markets Raw is your only option between these two brokers — but confirm availability on FP Markets' official platform page, as this was not verified from an official FP Markets source for this review.
• Iress is advertised as restricted to FP Markets' Australian entity clients and involves share trading. Whether that constitutes DMA share execution or CFD share trading materially affects cost and execution model — confirm directly with FP Markets before treating Iress as a confirmed or relevant feature for your situation.
• TradingView integration is advertised by FP Markets but could not be confirmed from an official FP Markets source for this review. Verify with FP Markets directly.
• PU Prime's proprietary app combines account management, funding, and market access in a single interface across all account types. See PU Prime's trading app page.
• MT4 at PU Prime includes 30 built-in technical indicators, support for custom indicators (.ex4/.mq4), and Expert Advisor (EA) compatibility per PU Prime's MT4 page. MT5 adds more timeframes, additional order types, an integrated economic calendar, and multi-asset backtesting per PU Prime's MT5 page.

Expert Advisors and automated strategies are supported on MT4 and MT5 at PU Prime. Whether FP Markets permits all scalping and algorithmic strategies on all account types without restriction is an evidence gap — confirm EA and scalping policy directly with each broker before deploying automated strategies.

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Account Types and Capital Thresholds

Account	Min deposit	Spread model	Commission (round-turn)	Source
PU Prime Cent	$20	Variable spread	None	PU Prime account opening guide
PU Prime Standard	$50	Variable, advertised from 1.3 pips EURUSD	None	PU Prime account opening guide
PU Prime Prime	$1,000	Raw from 0.0 pips (advertised, variable)	$7.00/lot	PU Prime spreads page
PU Prime ECN	$10,000	Raw from 0.0 pips (advertised, variable)	$3.00/lot	PU Prime spreads page
FP Markets Standard	Not confirmed	Variable — verify from official page	Not confirmed	Verify on FP Markets official account conditions page
FP Markets Raw	Not confirmed	Raw — verify from official page	Not confirmed	Verify on FP Markets official account conditions page
FP Markets Iress	Not confirmed	Share trading pricing — verify	Per-trade (varies) — not confirmed	Verify on FP Markets official account conditions page (AU entity)

PU Prime minimum deposits are confirmed from the official account opening guide. FP Markets minimum deposits and commission rates are not confirmed from official FP Markets sources for this review — check FP Markets' official website before making any account-type decision.

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Copy and Social Trading

PU Prime — PU Social: PU Prime operates PU Social, its proprietary copy trading layer. The account opening guide confirms copy trading is available with a minimum of $25 per signal provider. PU Prime's marketing materials reference large numbers of signal providers and high trade volumes — treat these as marketing claims, not independently verified data.

FP Markets copy trading: FP Markets offers copy trading functionality, but detailed documentation on signal provider transparency, fee structures, and minimum follow amounts was not available from official sources at the time of writing. This is an identified evidence gap.

What to evaluate before committing capital to either platform:

• Is the signal provider's maximum historical drawdown visible before you follow?
• Is the performance fee clearly stated upfront?
• Can you set a maximum loss limit on your copied allocation?
• Is the track record independently verifiable (for example, via a third-party audit tool) or is it broker-internal only?

Neither broker's copy trading offering has been independently assessed for this review. Use a demo account or minimum allocation to evaluate the live interface before committing meaningful capital.

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Asset Range and Market Access

Both brokers cover the major asset classes — forex pairs, indices, commodities, metals, and share CFDs. The differences are in depth and access method.

PU Prime advertises 200+ instruments including forex, indices, metals, commodities, shares, ETFs, bonds, and synthetic indices. The spreads page also references 24/7 Gold Trading (XAUUSD247), which extends gold market access beyond standard exchange hours.

FP Markets advertises 10,000+ instruments, a figure largely driven by its Iress share offering for Australian and some international shares. On MT4/MT5 accounts, the available instrument count is smaller. If specific instruments matter to your strategy, verify that they are accessible on your applicable entity and account type at each broker before treating either headline number as relevant to your situation.

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Funding and Withdrawals

Payment methods

PU Prime payment method availability is confirmed from the official account opening guide. FP Markets payment methods were not confirmed from official sources for this review — verify on FP Markets' official website.

Method	PU Prime	FP Markets
Bank wire	✓	Not confirmed for this review — verify on FP Markets official page
Credit/debit card	✓	Not confirmed for this review
Skrill	✓	Not confirmed for this review
Neteller	✓	Not confirmed for this review
Crypto (BTC/USDT)	✓ (check regional availability)	Not confirmed for this review
Local e-wallets	Region-specific — confirm with PU Prime for your country	Not confirmed for this review

Card and e-wallet deposits at PU Prime typically arrive instantly; bank transfers take 1–3 business days for deposits, per the official account opening guide.

Withdrawal processing times are an evidence gap for both brokers. Do not rely on withdrawal timeframes stated in third-party comparisons — confirm each broker's current withdrawal policy directly on their official website and with their support team before depositing. Offshore-entity accounts and ASIC-regulated accounts may have materially different processing timelines; verify which applies to you.

Inactivity fees for both brokers are an identified evidence gap. Neither broker's fee schedule was confirmed from official sources at the time of writing. Confirm directly with each broker's support before leaving an account dormant.

Currency conversion: If your account currency differs from the instrument's base currency, conversion charges will apply. Confirm the applicable rate with the broker before trading.

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Support and Learning Resources

PU Prime confirms 24/7 customer support across its MT4, MT5, and trading app pages. FP Markets also advertises 24/7 support, but an official FP Markets support page was not retrieved for this review. Whether language availability and response quality during off-peak hours match the advertised standard at either broker is not independently assessed here.

PU Prime's educational content includes platform guides, a forex compounding calculator with a "realistic mode" that factors in losing periods alongside the optimistic projection, and account setup walkthroughs. The calculator's accompanying material explicitly states that professional fund managers often target 15–20% per year, not per month — useful context for traders assessing realistic return expectations. FP Markets' educational resources were not reviewed from official sources for this article — check FP Markets' official website for current offerings.

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Who Should Choose Which Broker

The table below is a decision framework based on confirmed facts. Where FP Markets figures are unconfirmed, the recommendation notes what you must verify before acting on it.

Trader profile	Suggested broker	Key reason	What to verify / what you give up
Any trader in Australia	FP Markets	Only ASIC-regulated option between these two — PU Prime has no ASIC entity	Verify FP Markets ASIC licence is currently active on ASIC Connect Online before opening. You give up PU Social copy trading, PU Prime app, and PU Prime's lower entry deposit options.
Copy trading participant, lower capital ($25–$500)	PU Prime	PU Social accessible from $25 per provider; Standard account from $50; confirmed payment options	You give up cTrader, Iress, and ASIC protections. FP Markets' copy trading depth is unconfirmed — evaluate their platform before using FP Markets for this purpose.
Professional platform user requiring cTrader	FP Markets	cTrader is not available at PU Prime	Verify cTrader availability on your specific FP Markets account type and entity — this was not confirmed from an official FP Markets source for this review. You give up PU Prime app and PU Social.
Beginner, small deposit, learning phase (outside Australia)	PU Prime	Confirmed entry from $20 (Cent) or $50 (Standard); 24/7 support confirmed; Cent account limits capital exposure during the learning phase	You give up cTrader, Iress, and ASIC protections.
High-volume professional trader, $10,000+ capital	Compare directly	PU Prime ECN offers $3.00 round-turn commission (confirmed). FP Markets Raw commission is unconfirmed for this review.	Retrieve FP Markets' current conditions from their official website and compare the all-in cost — spread plus commission — before deciding. A responsible cost-based recommendation cannot be made without those verified figures.
Traders in all other regions	Check entity first	Your applicable regulatory entity at each broker determines protections — not platform preference.	Confirm which entity each broker assigns to your jurisdiction before depositing; protections vary materially by entity.

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Ready to explore your preferred broker?

Open a PU Prime demo account — entry from $20 (Cent) or $50 (Standard), PU Social copy trading, 24/7 support confirmed.

Visit FP Markets' official site to open a demo — ASIC-regulated (AU), cTrader and Iress advertised. Verify current conditions, account availability, licence status, and regulatory entity on their official site before opening any account.

A demo account uses live market prices and carries no financial risk. Use it to assess platform fit before committing capital.

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What We Could Not Verify

The following could not be confirmed from official broker pages at the time of publication. Confirm each point directly with the relevant broker before opening an account or making any capital commitment.

1. FP Markets minimum deposit figures — Not retrieved from official FP Markets sources. Check FP Markets' official account page.
2. FP Markets spread and commission figures — Not retrieved from official FP Markets sources. Verify directly before any cost comparison.
3. FP Markets ASIC and CySEC licence status and numbers — Not retrieved from official FP Markets documentation. Verify on ASIC Connect Online and the CySEC register before relying on ASIC protections as a reason to choose FP Markets.
4. FP Markets platform availability by account type — cTrader on Raw account and Iress on AU entity are advertised but not confirmed from official FP Markets documentation.
5. FP Markets TradingView integration — Advertised but not confirmed from an official FP Markets source.
6. FP Markets leverage limits (offshore entity) — Not confirmed from official FP Markets sources. Verify before trading with leverage.
7. Iress execution model — Whether Iress involves DMA share execution or CFD share trading is not confirmed; the distinction materially affects cost and execution. Verify with FP Markets directly.
8. Withdrawal processing times — Neither broker's current withdrawal turnaround figures were independently verified for this review. Confirm with each broker's support team before depositing.
9. Inactivity fee amounts and trigger periods — Not confirmed from official sources for either broker.
10. EA and scalping policy — Whether both brokers explicitly permit all algorithmic and scalping strategies on all account types is unconfirmed. Confirm before deploying automated strategies.
11. Execution speed and slippage — No independent execution quality data is available. Broker claims about execution speed are not verified here.
12. FP Markets copy trading feature depth — Signal provider drawdown visibility, fee structures, and minimum follow amounts were not confirmed from official FP Markets documentation.
13. PU Social signal provider statistics — User count and trade volume figures in PU Prime marketing materials have not been independently verified. Treat as indicative only.
14. Overnight swap rates — Swap rates change daily. Check the live swap table in your platform at the time of any planned overnight hold.
15. Margin call and stop-out levels — Not confirmed from official account specification pages for either broker. These directly affect risk management; confirm before live trading.
16. Regional payment method availability — Crypto deposit and local e-wallet support varies by country and entity. Confirm availability for your country with each broker directly.

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FAQ

Is PU Prime regulated? Yes. PU Prime operates under multiple licences: FSA Seychelles (SD050) as its primary offshore entity, plus FSC Mauritius, FSCA South Africa, CMA UAE, and a CySEC entity for EU clients. Full details are published at puprime.com/regulation. Cross-check all licence numbers against the relevant regulator's own public register. PU Prime does not hold an ASIC licence.

Does FP Markets have stronger regulation than PU Prime for Australian traders? For traders in Australia, ASIC regulation carries materially stronger client-money protections — including segregation of client funds and access to AFCA for dispute resolution — compared to any offshore entity. PU Prime has no ASIC-regulated entity, so FP Markets is the only option between these two brokers for an ASIC-regulated account in Australia. Before opening an account, verify that FP Markets' ASIC licence is currently active on ASIC Connect Online. For traders outside Australia, the relevant comparison is which entity each broker assigns to your jurisdiction — both brokers have CySEC and FSCA entities for EU and South African clients respectively.

Does PU Prime offer cTrader? No. PU Prime's platform offering is MT4, MT5, and its proprietary mobile app. cTrader is not available at PU Prime.

What is the confirmed minimum deposit for PU Prime? The Cent account requires $20 and the Standard account requires $50, per PU Prime's official account guide. The Prime account requires $1,000 and the ECN account requires $10,000. Confirm current minimums on the official account page at the time of opening.

Which broker is cheaper for high-volume forex trading? The only confirmed commission figures in this review are from PU Prime: Prime account at $7.00 round-turn ($1,000 minimum deposit) and ECN account at $3.00 round-turn ($10,000 minimum deposit), both sourced from PU Prime's spreads page. FP Markets' commission and spread figures were not retrieved from official sources for this review. Retrieve FP Markets' current conditions from their official website and compare the all-in cost — spread plus commission — for the specific account type available to you before deciding.

Does FP Markets have a proprietary trading app? No proprietary app equivalent to PU Prime's was confirmed from official FP Markets sources for this review. FP Markets clients use MetaTrader mobile apps or, where available, cTrader mobile. Confirm FP Markets' current app options on their official website.

Can I copy trade on both brokers? PU Prime offers PU Social from a confirmed minimum of $25 per signal provider. FP Markets offers copy trading functionality; detailed feature specifications were not confirmed from official sources for this review. Evaluate the live interface on each broker — using a demo or minimum allocation — before committing capital to any copy trading strategy.

Which broker suits beginners outside Australia? PU Prime's Cent account ($20 confirmed minimum) and Standard account ($50 confirmed minimum) offer a low entry point, and the proprietary app simplifies account management. The Cent account is designed to allow learning with minimal capital exposure. For beginners in Australia, FP Markets is the appropriate choice given ASIC protections — verify the ASIC licence is currently active before opening an account.

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Risk Warning

Risk warning: CFDs and leveraged forex products are complex instruments and carry a high risk of losing money rapidly due to leverage. Consider whether you understand how these products work and whether you can afford to take the high risk of losing your capital. Check the entity, terms and protections that apply in your jurisdiction before trading.

Both brokers are required by their respective regulators to disclose the percentage of retail investor accounts that lose money when trading CFDs. Retrieve the current disclosure figure from each broker's official website at the time of account opening — these figures change and must be checked from live official pages, not from third-party sources.

Leverage limits differ materially by regulatory entity. ASIC-regulated accounts are capped at 1:30 for major forex pairs for retail clients. Offshore entities may offer leverage up to 1:500 — verify the limit applicable to your account and entity. Higher leverage increases both potential gains and the speed at which losses can exceed your deposit. Negative balance protection scope varies by entity — confirm whether your specific account includes it before trading.

Past performance of any trading strategy, signal provider, or account is not indicative of future results.