FP Markets Broker Review

The company, FP Markets, founded in 2005, is an Australian CFD and forex broker. The Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), the Financial Services Authority of St. Vincent and the Grenadines regulate the broker.

The company is a multi-asset broker with more than $1 billion in daily trading volume. It serves clients in more than 80 countries all over the world.

If you want to open an account with the FP markets, we recommend going through this review first.

You can find our transparent FP Markets review below. Broker reviews are updated frequently!

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Pros / Cons
  • Low Spreads
  • Multi-Regulated
  • Over 13,000 Tradable Assets
  • Autochartist
  • Broker Verified
  • No ZAR Account Currency
  • No FSCA Regulation

FP Markets Regulation

FP Markets’ Australian clients deal with the subsidiary regulated by the Australian Securities and Investments Commission (ASIC), First Prudential Markets PTY LTD. It remains a top tier regulatory in the business.

The broker’s EU part is CySEC regulates first Prudential Markets Ltd. Users other than European and Australian entities are controlled by Saint Vincent and the Grenadines.

Reliability

FP Markets has taken several measures to ensure the continued protection of your funds when you are trading with them. These measures include negative balance protection as standard, and it simply means that you use more than the amount of money you deposit with the broker.

Your funds will also be held in segregated accounts with top-tier banks. It means that if the company were bankrupt or insolvent, your money would remain protected entirely and untouched. In addition, if you are an EU trader, then you are further protected by the ICF.

FP Markets Tradeable products

FP Markets offer more than 50 forex currency pairs, five commodities, more than 10,000 shares from all around the world, and five cryptocurrencies.

At FP Markets, forex products are traded through the ECN (Electronic Communication Network). On the other hand, CFD products use different channels in DMA (Direct Market Access).

The advantages are the lower spreads and faster execution because the orders are passed directly to the underlying market without third-party involvement.

FP Markets Account types

FP Markets provides a standard account, raw spread account, IRESS standard account, IRESS platinum account, IRESS premier account, MAM/PAMM account, and an Islamic account.

FP Markets Metatrader’s standard account is a popular account type choice for traders just starting with the company. As a client, you can get started with a low minimum deposit of just $100. When working with this company, you will choose to trade through MT4 or MT5 trading platforms.

If you want even lower spreads and more platform customization, then the FP Markets Metatrader Raw Spreads Account is also an option. You can again choose between the MT4 or MT5 trading platforms and access the same excellent minimum deposit of just $100.

FP Market’s IRESS Standard account is available if you are interested in stock trading through the company.

It is their standard account type for stockbroking, and trading through the IRESS platform is available. However, the setback is that this is only available in Australia.

FP Market’s IRESS Platinum account is also available only in Australia. It also provides access to stock trading as CFDs on the ASX stock exchange. The minimum deposit for this account type is $25,000 through the account comes with several added benefits suitable for higher volume stock traders.

The highest level of FP Markets stock trading account available is the IRESS Premier Account. As with the other IRESS account types, this account is not open outside Australia and provides access to the same range of ASX stocks for trading as CFDs. With this account type, the minimum deposit increases to $50,000.

If you are an Islamic trader complying with Sharia law, you will be glad to note that an FP Markets Islamic Account is offered. These accounts are available on request from the broker and provide the same excellent trading conditions you will find on other charges.

FP Markets also offer a demo account. With the demo account, you will have 0,000 in virtual funds available to trade.

Average Standard Account Spreads on Majors

  • EUR/USD: 1.2
  • GBP/USD: 1.4
  • USD/JPY: 1.2
  • AUD/USD: 1.3

Opening an account

Opening an account at FP Markets is pretty quick and straightforward.

To open an account, here is what you need to do:

  • First, fill in your name, email address and password.
  • Enter your date of birth, phone number, and residential address.
  • Provide some financial information
  • Choose an account type, a trading platform, and a base currency.
  • Fill out a simple questionnaire to prove your understanding of the various financial products.
  • Verify your identity by uploading docs.

Account currency

There are ten base currencies for opening an account with FP Markets. They are:

GBP, USD, EUR, AUD, CHF, JPY, SGD, CAD, HKD, and NZD.

Unfortunately, as a South African, you cannot open an account in ZAR.

Trading platform

FP Markets offers the traders the MT4/MT5 trading platforms, and Australian clients may qualify for the IRESS trading platform.

FP Market’s MetaTrader 4 is one of the best known and best-performing trading platforms on the market.

The platform has been around for a long time. It is widely popular, providing for a compelling performance and completely secure and encrypted communications all over.

MetaTrader 5 is similar to MT4 in terms of the platform’s high-quality performance and lightweight efficiency. However, it can also be better with a few adjustments.

You can access an increased number of technical indicators, an economic calendar, more pending order choices, and an increased number of timeframes that help with attention to detail.

IRESS trading platform is the primary equities trading platform. It applies primarily to Australian clients. It is why FP Markets in Australia only offer it. If you use this platform, you will open an FP Market’s IRESS stockbroking account.

This platform will provide you with DMA execution to trade stocks on the ASX stock market. When using this platform, you will have access to more than 10,000 assets in total. The platform is user-friendly with a highly intuitive interface making it convenient for the trade. Browser notifications are also available.

FP Markets Commissions and fees

FP Markets offers two pricing models, and the commission-free standard account shows an average markup of 1.15 for the EUR/USD. This means $11.50 per 1.0 standard lots.

FP Markets deliver a commission-based alternative with raw spreads of 0.0 pips for a commission of $6.00 per round lot.

The commodities, indices, and cryptocurrencies remain free of additional costs included in the markup. Equity CFDs and DMA traders face a fee of 0.10% with a minimum of $10 and a currency equivalent.

The FP Markets do not charge an inactivity fee or account fees, except for IRESS Trader.

FP Markets charges no withdrawal fees if you use domestic bank transfers or credit cards.

Leverage

FP Markets leverage depends on the regulatory area you are trading from and the broker entity you are selling.

As an EU trader, trading under CySEC means the leverage will be a maximum of 30:1 as mandated by ESMA/MiFiD laws. That maximum leverage up to 30:1 is also allowed under ASIC regulation.

As a non-EU trader, your leverage will significantly increase. It can reach a maximum FP Markets leverage of 500:1.

Deposits and Withdrawals

FP Markets maintains 18 primary funding methods and three alternative options. These include bank wires, credit/debit cards, online payment processors, and cryptocurrencies.

A bank transfer can take a few business days, while a credit/debit card is much quicker.

As a client, you can only deposit money from accounts that are under your name.

The minimum deposit at FP Markets is generally $100 or equivalent on the majority of accounts.

Education and Research

The FP Markets Traders Hub provides daily research and trading idea, which are presented in a quality format. In addition, streaming news service is available as one of the twelve plug-ins for MT4. These plug-ins offer traders a valuable service embedded with the trading platform. The newbies can also benefit from educational resources, including webinars and videos.

Sadly, FP Markets do not provide trading courses with a quiz following a classroom-style setting. But, all in all, the research & education at FP Markets are of high quality and add value to the core trading environment.

Customer Service

You can contact the FP markets through standard communication methods such as live chat, phone and email.

One of the best features of FP Markets’ customer support is the number of available languages you can choose from Arabic, Chinese, English, French, German, Greek, Indonesian, Italian, Malaysian, Portuguese, Russian, Spanish, Thai, and Vietnamese.

FP Markets offers excellent email support, providing quick and relevant answers.

Bonuses and Promotions

So far, FP Markets does not offer any bonuses or promotions.

Special features

In addition to the built-in MT4 copy trading functionality, FP Markets has partnered with Myfxbook Autotrade, which is also accessible via the MT4 trading platform. In addition, the broker’s most recent growth includes FP Markets Copy Trading, a proprietary copy trading service. They also offer their clients Autochartist.

FP Markets South Africa

If you are a South African client, you will be glad to know that you can open an account with FP Markets. Unfortunately, however, it does not allow you to open an account in ZAR.

Affiliate program

The FP Markets partnership program is one of the leading IB and forex affiliate programs.

FP markets offer introducing broker, affiliate programs, and white label partnerships.

Join the FP Markets IB Affiliate Program: Join Now & Earn

Our verdict

FP Markets is a renowned CFD and forex broker regulated by the top-tier Australian Securities and Investments Commission. The forex broker company offers low forex fees and does not charge the clients an inactivity fee. Both account opening and depositing, are fast and you will also come across many beneficial educational tools.

FP Markets raw spread accounts for MetaTrader platforms provide the clients with competitive pricing within the industry leaders in the commissions and fees category. But, there are far fewer symbols available to trade on MetaTrader 4 and 5 with less than 150 instruments in total.

FP Markets has a well-established reputation for delivering a high level of client satisfaction, and we are one of the most award-winning organizations in the market.

FP Markets has made significant investments in technology to guarantee that all clients have access to the most recent technologies.

On the downside, its Iress platform suite offers a substantial range of markets but is optimized for share trading, not forex.

The stock CFD fees are high, and the product portfolio is limited. It is because it covers only CFDs (equities, indices, metals) and forex instruments. In addition, MT4 web and desktop trading platforms have outdated designs, but the company still stands out in the business of trading.

Bottom line

FP Markets is a trustworthy and dependable broker best suited for pure Forex traders looking for a competitive commission-based trading environment via an improved MT4 trading platform. In addition, withdrawal options and processes continue to be outstanding.

Feel free to try FP Markets, as account opening is easy, and there are no inactivity fees.

We value your feedback: Rate this broker by leaving a comment and rating below this review.

Broker FAQ

Thinking of Trading with FP Markets?

FP Markets FAQ

What is the FP Markets minimum deposit?

The minimum deposit from opening an account with FP Markets is $100.

How do I deposit/withdraw from the FP Markets account?

You can deposit/withdraw funds through debit/credit card, bank wire transfers, Skrill, Neteller, PayTrust, FasaPay, PerfectMoney, dragon pay, and cryptocurrencies.

Are FP Markets spreads high?

FP Markets offer competitive spreads.

What is the maximum leverage at FP Markets?

Leverage differs from the entity you are trading in. For example, if you are dealing with the Australian and European entities, then the maximum power is 1:30. On the other hand, international clients can have a maximum leverage of 1:500.

Do FP Markets use MetaTrader?

Yes, MetaTrader 4 anad MetaTrader 5.

Are FP Markets available in South Africa?

Yes, FP Markets is available for South African traders.

FP Markets Logo

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FP Markets, founded in 2005, is an Australian CFD and forex broker. FP Markets is a multi-asset broker with more than $1 billion in daily trading volume.

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