FP Markets Standard vs Raw: Comparing Spreads and Commission

Start with the account and legal entity

Standard and Raw primarily differ in how trading costs are presented. Standard incorporates the broker's Forex charge into the difference between buying and selling prices. Raw combines a spread with a separate commission. A useful comparison holds the currency pair, trade size, platform and contracting entity constant. Mixing one account's spread with another account's commission produces a price that no actual trade necessarily receives.

FP Markets comprises several companies. The international site identifies Saint Lucia-registered FP Markets Ltd as its operator, alongside licensed companies in other jurisdictions. The Cyprus or Australian company's licence does not automatically cover a Saint Lucia account. This article starts with international MT4/MT5 Forex pricing, then separates cTrader and regional account pages. CFDs provide exposure to price movements rather than ownership of the underlying asset.

Standard and Raw: advertised pricing is only the starting point

The international account table advertises spreads from 1.0 pip for Standard and from 0.0 pips for Raw. These are minimum starting figures, not fixed spreads, averages or executable quotes for a particular moment. Thin liquidity, volatility and the trading session can all widen spreads.

Standard's lack of a separate commission does not remove its spread cost. Nor does a zero-pip Raw spread eliminate commission. This table concerns Forex; equity-CFD commissions do not disappear simply because an account is called Standard.

Worked example: a pip is not always one dollar

This is an educational calculation, not a spread observed at FP Markets. Assume one standard lot of EUR/USD, representing EUR 100,000, in a USD account. A 0.0001 movement is worth USD 10 per lot. Also assume an unchanged spread throughout opening and closing, no price movement, and no overnight financing, conversion or slippage.

At a hypothetical 1.2-pip Standard spread, the model's spread cost is USD 12. A hypothetical 0.2-pip Raw spread costs USD 2; adding USD 6 opening-and-closing commission gives USD 8. Raw is USD 4 cheaper under these assumptions. The spread saving required to offset that commission is 0.6 pip, because 6 divided by 10 is 0.6.

In this constant-spread round-trip model, the spread is not doubled again. The per-side commission is charged twice. When spreads change or the market moves, actual fills determine the outcome; the example does not establish the price or saving available on a real trade.

Account currency and platform change the commission calculation

The international MT4/MT5 table sets Raw commission in the account's currency. The following figures concern Forex, per lot and per side, before spread:

Convert figures to the same currency before comparing them. Account currency also affects the monetary value of a pip when it differs from the pair's quote currency. An EUR account does not make the USD cost of a dollar-quoted pair disappear.

cTrader uses a different basis: its fee page publishes USD 3 per lot per side for Forex and metals, converted into account currency. The MetaTrader EUR 2.75 tariff therefore cannot simply be assigned to an EUR cTrader account. Check the commission charged and the conversion basis in the actual account terms before selecting a platform.

Check which platform the account actually supports

The international site lists MT4, MT5 and cTrader for Standard, with TradingView additionally shown for Raw. FP Markets' connection guide uses a cTrader ID and a completed, funded live account. Viewing a TradingView chart is different from linking a brokerage account, and a symbol on a chart is not necessarily tradable in that account. Select instruments from FP Markets' own offering within the platform.

For manual trading, use a demo to compare order handling, spread visibility and commission reporting. Existing robot users should check both programming compatibility and contractual permission. MetaTrader EA support and cTrader automation are technical capabilities, not blanket authorisation. Clause 14.14 of Saint Lucia's FP Markets Ltd agreement requires express prior written consent for automated systems. That check is separate from choosing Standard or Raw.

Costs beyond spread and dealing commission

Positions held past rollover can receive a swap credit or incur a charge. FP Markets' financing page makes rates instrument- and direction-specific; triple swap normally falls on Wednesday, with Friday applying to some instruments. Inspect the platform's symbol specification and both long and short rates rather than assuming opposite positions cancel their financing costs. Several nights of funding can outweigh a small spread saving.

The Saint Lucia agreement also includes an inactivity charge. Clause 18.12 specifies USD 10 per month, or account-currency equivalent, after a continuous 90-day period meeting its inactivity definition, for accounts with available funds. This is not automatically a fee for every group entity. Payment clauses permit bank and payment-provider costs in specified circumstances. A useful comparison includes funding and withdrawal costs, along with how long the account will remain open.

Choose using comparable costs rather than minimum-spread headlines

Set out the currency pair, trade size and trading hours you intend to examine, and whether positions will close within the day. Compare spreads under matching conditions, calculate both sides of commission in one currency, and add overnight financing when relevant. A demo can help locate these figures and build a calculation sheet, but practice does not prove that real-money prices or execution will match.

Standard may appeal to people who prefer Forex pricing through the spread. Raw separates spread and commission, but only offers a cost advantage when the spread saving is sufficient. Check the entity and client classification as well: Australian and Cyprus retail Forex leverage is limited to a maximum of 1:30. These are regional terms, not an offer to every resident. Check the trade’s margin requirements and the terms of the selected account and platform.

Leveraged CFDs can rapidly erode trading funds, and a Stop Loss does not guarantee a closing price. The account-cost guide covers platforms, conversion and financing; the FP Markets review brings the service details together.