FP Markets USD/JPY Spread & Trading Conditions 2026

FP Markets quotes USD/JPY — the US dollar vs Japanese yen pair, a key carry-trade major — with a standard spread of 1.1 pips (Standard). 1.1 pips (Standard) places it 17th out of the 35 brokers we track quoting USD/JPY, level with the median of 1.1. On raw/ECN accounts the spread is typically 0.1 pips + $3/side (Raw). Spreads are quoted in pips and widen or tighten with market volatility and account type.

Fee context from our review: FP Markets offers competitive pricing with two main account types. Standard accounts are commission-free with spreads from 1.0 pips. Raw ECN accounts offer spreads from 0.0 pips with a $3 per side ($6 round turn) commission. The Iress platform for DMA trading has separate commission structures. No deposit fees, no inactivity fees, and free withdrawals for most methods. The broker is a member of The Financial Commission (June 2025), providing up to €20,000 protection.

Across the 35 public brokers we track quoting USD/JPY, FP Markets ranks 17 against a median of 1.1. Ranked on published standard-account quotes — see our [methodology](/our-methodology/).

When trading USD/JPY at FP Markets:

Minimum deposit: $100
Maximum leverage: 1:500
Commission: $3/lot (Raw)
Execution: ECN / DMA
Platforms: MT4, MT5, cTrader, IRESS

Spreads shown are indicative of the account types we assess. Raw/ECN accounts generally charge a per-lot commission in exchange for tighter raw spreads, while standard accounts build costs into the spread itself.

The USD/JPY spread is driven by liquidity depth, market volatility, the time of day (London and New York sessions are tightest), and the account model you choose. FP Markets supports MT4 and MT5 for spread-sensitive execution.