Grand Markets wins on bonus value; FP Markets for traders needing IRESS or broadest instrument selection.
Grand Markets and FP Markets are closely matched on the fundamentals — ASIC regulation, ECN execution from 0.0 pips, $100 minimum deposit and full MT4/MT5 support. The decisive split comes down to what you need beyond the basics. Grand Markets delivers a $200 Cash Reward that FP Markets cannot match. FP Markets counters with cTrader, the professional IRESS platform, and a 10,000+ instrument catalogue including ASX equities. For most FX, index and commodity CFD traders, Grand Markets is the better overall package.
1. Regulation Comparison
Both brokers hold ASIC licences, the gold standard for offshore CFD regulation. ASIC requires brokers to hold client funds in segregated accounts with Australian authorised deposit-taking institutions (ADIs), maintain positive net tangible assets, and file audited annual financial reports. This means your capital is protected even in an unlikely insolvency scenario.
Grand Markets is regulated by ASIC under licence number 554475. The licence covers dealing in financial products and providing financial product advice — the full scope required to operate as a CFD broker. You can verify this directly on the ASIC public register.
FP Markets holds ASIC licence 286354 and additionally holds a CySEC licence (Cyprus Securities and Exchange Commission, 371/18) and an FSCA licence in South Africa. The CySEC authorisation gives FP Markets a formal regulatory footprint under MiFID II for European clients, which is a genuine structural advantage for EU-based traders. For Australian and most global traders, both ASIC licences provide equivalent protection.
2. Spreads and Commission
Both Grand Markets and FP Markets offer ECN-style execution with raw spreads from 0.0 pips on their premium account tiers. On the FP Markets Raw account, commission runs approximately $3.00 per side ($6 round-turn) per standard lot. Grand Markets charges the same — approximately $3.00 per side ($6 round-turn) on its ECN account. The commission structure is identical.
On standard (no-commission) accounts, both brokers widen spreads to absorb execution costs. FP Markets Standard typically shows approximately 1.1 pips on EUR/USD; Grand Markets Standard is in the 1.0–1.2 pip range. For active ECN traders, total cost of trading is effectively equal between both brokers — your choice should be driven by bonus and platform preferences, not spread costs.
For high-frequency scalpers placing hundreds of lots per month, this cost equivalence is particularly important to verify with live data before committing. Both brokers offer demo accounts where you can observe live spread behaviour during your preferred trading session.
3. Platforms
Grand Markets supports MetaTrader 4 and MetaTrader 5. MT4 remains the most widely used retail trading platform globally, with a deep ecosystem of Expert Advisors and custom indicators. MT5 extends this with six additional order types, 21 timeframes, a built-in economic calendar, and an improved backtesting engine. For the overwhelming majority of FX, index and commodity CFD traders, MT4/MT5 covers every professional need.
FP Markets adds cTrader and IRESS to the standard MT4/MT5 lineup. cTrader is a strong alternative for algorithmic traders who want to write cBots in C# rather than MQL4/5, and for traders who value native depth-of-market (DOM) visualisation and Level 2 order book data. IRESS is the standout differentiator — a professional-grade platform used by institutions for share trading and CFDs, offering Level 2 market depth, DMA (Direct Market Access) execution for ASX equities, and sophisticated portfolio tools.
For the majority of forex, index and commodity CFD traders who use MT4 or MT5, Grand Markets delivers an equivalent experience. If cTrader or IRESS is a hard requirement for your trading strategy, FP Markets has a clear and irreplaceable advantage.
4. Instruments
FP Markets offers 10,000+ tradeable instruments: ASX and global equities, 60+ currency pairs, 25 indices, commodities, crypto and ETF CFDs. This breadth is exceptional and caters to traders who want to build diversified portfolios across asset classes from a single account.
Grand Markets offers 200+ core high-liquidity instruments — all major and minor FX pairs, leading global indices (US30, SPX500, NAS100, DAX40, FTSE100), key commodities (Gold, Silver, Oil, Natural Gas) and major crypto CFDs (Bitcoin, Ethereum). This focused catalogue covers the instruments traded by the vast majority of retail CFD traders.
For most retail CFD traders whose focus is FX, indices and commodities, Grand Markets' curated instrument list covers everything needed. For traders who specifically target individual stock CFDs, ASX equities, or exotic pairs, FP Markets' 10,000+ instrument range is the clear winner.
5. Welcome Bonus — The Key Differentiator
This is where the two brokers diverge most significantly. Grand Markets offers a $200 Cash Reward for new clients who meet the qualifying deposit and volume conditions. This is real withdrawable cash deposited into your trading account — not a non-withdrawable credit bonus that inflates your displayed balance without being accessible. On a $100 minimum deposit, the $200 bonus represents 200% extra starting capital. On a $500 deposit, it is a meaningful 40% addition to your trading equity.
FP Markets offers no cash welcome bonus in 2026. The broker's value proposition centres on its platform breadth, instrument range and ECN execution quality — all legitimate and competitive strengths. But from a pure value-per-dollar-deposited standpoint, a new trader starting at Grand Markets receives $200 more capital from day one.
To calculate whether the $200 Cash Reward makes sense for your planned trading volume, use our free CFD Bonus Calculator — enter your deposit amount, bonus size and volume requirement to see the true effective cost of the bonus.
Full Head-to-Head Comparison Table
| Feature | Grand Markets | FP Markets | Winner |
|---|---|---|---|
| Primary Regulator | ASIC (554475) | ASIC (286354) | Tie |
| Additional Regulation | — | CySEC, FSCA | FP Markets |
| Execution Type | ECN / STP | ECN / STP | Tie |
| Min Spread (ECN) | 0.0 pips | 0.0 pips | Tie |
| Commission per Lot | ~$6 RT | ~$6 RT | Tie |
| Minimum Deposit | $100 | $100 | Tie |
| Welcome Bonus | $200 Cash Reward | None | Grand Markets |
| MT4 | ✅ | ✅ | Tie |
| MT5 | ✅ | ✅ | Tie |
| cTrader | ❌ | ✅ | FP Markets |
| IRESS | ❌ | ✅ | FP Markets |
| Instruments | 200+ | 10,000+ | FP Markets |
| Max Leverage | 1:500 | 1:500 | Tie |
| Demo Account | ✅ | ✅ | Tie |
| 24/5 Support | ✅ | ✅ | Tie |
| CFD Bonus Rank Score | 9.4 / 10 | 8.8 / 10 | Grand Markets |
Who Should Choose Grand Markets?
- Traders who want a $200 real cash welcome bonus to reduce startup costs
- MT4 and MT5 users focused on FX, indices and commodities
- Traders seeking ASIC protection at the $100 minimum deposit threshold
- Anyone starting their CFD journey who wants the best value overall package — see our guide to getting started with CFD trading
Who Should Choose FP Markets?
- Traders who need IRESS for ASX equities and DMA share trading
- Algorithmic traders who require cTrader for cBot development
- Traders targeting ASX shares, global equities or the full 10,000+ instrument range
- EU-based traders who require CySEC regulatory protection under MiFID II
Frequently Asked Questions
Start Trading with Grand Markets — Our #1 Pick
ASIC regulated (554475) · ECN spreads from 0.0 pips · $200 Cash Reward for new accounts
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