Broker Details | FP Markets |
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Founded Year | 2005 |
Minimum Deposit | $100 |
Maximum Leverage | 500:1 * |
Address | Level 5, Exchange House 10 Bridge St Sydney NSW 2000, Australia |
Contact | support@fpmarkets.com, +61 (0)2 8252 6800 |
Customer Support | Live Chat, Email, and Phone |
Regulators | ASIC, FSA | Seychelles, FSC | Mauritius, MISA, FSCA | South Africa |
Prohibited Countries | Beligum, Japan, New Zealand, United States |
Trading Platforms | MT4, MT5, IRess |
Dealing Desk | ❌ No |
ECN | ✅ Yes |
Margin Call / Stop Out: | 100%/50% |
Web Trading | ✅ Yes |
Mobile Trading | ✅ Yes |
Currencies | (70+) |
Cryptocurrencies | (5+) Bitcoin, Litecoin, Ethereum |
CFD | (15+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Bonds, Oil, Other Commodities, Futures, ETF |
EAs/Robots | ✅ Yes |
News Trading | ✅ Yes |
Scalping | ✅ Yes |
Copy Trading | ✅ Yes |
Deposit Methods | Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, Dragonpay, FasaPay, Klarna, Neteller, Ngan Luong, PayPal, PayTrust88, PerfectMoney, Poli, Rapid Transfer, Skrill, SticPay, Transfer from Existing Broker, UnionPay |
Withdrawal Methods | VISA, MasterCard, FasaPay, Neteller, Ngan Luong, PayPal, PayTrust88, Skrill |
Pros
- Very tight raw spreads starting from 0.0 pips.
- Supports popular platforms like MT4, MT5, cTrader, and TradingView.
- 24/7 customer support in multiple languages.
- Winner of over 50 global industry awards.
- Offers social trading options.
- Strong partnerships with industry leaders.
Cons
- Requires a minimum deposit of $100.
- Limited educational materials for learning.
- Lacks some advanced trading tools.
Why FP Markets Could Be the Game-Changer for Your Trading Journey
When it comes to choosing a forex and CFD broker, the market is crowded with options, each claiming to be the best. But let’s cut through the noise and talk about FP Markets. Is this broker worth your time and money, or is it just another overhyped platform? In this detailed review, we’ll uncover the good, the bad, and the downright ugly about FP Markets. Buckle up because this isn’t your typical sugar-coated review—we’re diving deep!
What is FP Markets?
FP Markets is an Australian-based forex and CFD broker that’s been around since 2005. With over 18 years in the game, it’s fair to say they’ve earned their stripes. They claim to offer a transparent trading environment with lightning-fast execution speeds and competitive pricing. But are these claims just marketing fluff? Let’s find out.
Regulation and Trustworthiness
Is FP Markets Regulated?
Yes, and that’s a huge green flag. FP Markets is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). This means they’re held to high standards when it comes to transparency and client protection.
Why Regulation Matters
Think of regulation as the safety net in your trading journey. If things go south, a regulated broker like FP Markets gives you some level of recourse. It’s like having a referee in a football game—essential to keep things fair.
Types of Accounts Offered
Standard Account
The Standard Account is perfect for beginners. It offers commission-free trading, but spreads start at 1.0 pip, which is a bit steep compared to other brokers.
Raw Account
For the pros, the Raw Account is a better choice. It comes with spreads starting at 0.0 pips but charges a $3 commission per lot per side. This account is ideal for scalpers and high-frequency traders.
Islamic Account
FP Markets also offers a swap-free Islamic account, catering to traders who follow Sharia law.
Trading Platforms
MetaTrader 4 (MT4) and MetaTrader 5 (MT5)
The bread and butter of FP Markets’ offering. Both MT4 and MT5 are robust platforms that support advanced charting tools, automated trading, and a wide range of indicators.
Iress
While less popular than MT4/MT5, the Iress platform is tailored for advanced traders who need real-time market data and sophisticated trading tools. But here’s the catch—it comes with a monthly subscription fee.
Mobile App
The FP Markets mobile app is surprisingly user-friendly, making it easy to trade on the go. But don’t expect it to replace the full desktop experience.
FP Markets offers an impressive range of over 10,000 trading instruments, including:
- Forex
- CFDs on indices
- Commodities like gold and oil
- Cryptocurrencies
- Shares
This diverse portfolio ensures there’s something for everyone, whether you’re a forex fanatic or a crypto enthusiast.
Trading Fees and Costs
Spreads and Commissions
- Standard Account: Higher spreads, no commission.
- Raw Account: Tight spreads, $3 commission per lot.
Overnight Fees
If you’re holding positions overnight, be prepared for swap charges unless you’re using an Islamic account.
Hidden Fees
FP Markets doesn’t hit you with sneaky fees, but always read the fine print to avoid surprises. For instance, inactivity fees could catch you off guard.
FP Markets boasts ultra-fast execution speeds, thanks to their Equinix NY4 server. If you’re into scalping or high-frequency trading, this is a big deal. Delays can cost you money, and FP Markets minimizes that risk.
Customer Support
Availability
FP Markets’ customer support is available 24/5 via live chat, email, and phone. They’re responsive and knowledgeable, but don’t expect weekend support.
Languages
Support is offered in multiple languages, making it accessible to traders worldwide.
Deposit and Withdrawal Options
Deposit Methods
- Credit/Debit Cards
- Bank Transfers
- E-wallets like Skrill and Neteller
- Cryptocurrencies
Withdrawal Speed
Withdrawals are generally processed within 1-2 business days, which is fairly standard.
Fees
Most deposit and withdrawal methods are free, but international bank transfers may incur a fee.
Leverage Options
FP Markets offers leverage up to 500:1, but this depends on your location and regulatory body. While high leverage can amplify profits, it also magnifies risks. Always tread carefully.
Education and Research Tools
FP Markets provides a wealth of educational resources, including webinars, eBooks, and trading guides. Their research tools are equally robust, featuring market analysis, economic calendars, and trading signals. Whether you’re a newbie or a seasoned trader, there’s plenty to learn.
Strengths of FP Markets
- Regulated by ASIC and CySEC: Provides a layer of security.
- Diverse Instruments: Over 10,000 options to trade.
- Fast Execution: Ideal for scalpers and day traders.
- Educational Content: Great for beginners.
Weaknesses of FP Markets
- Higher Spreads on Standard Accounts: Not competitive for cost-conscious traders.
- Limited Weekend Support: Could be better.
- Iress Platform Fees: Expensive for casual traders.
User Experience
FP Markets offers a seamless user experience, from account registration to trading execution. The platforms are intuitive, and the mobile app is perfect for trading on the go. However, some users have complained about occasional lag during high market volatility.
Is FP Markets Safe?
The broker’s regulatory compliance and client fund segregation ensure a safe trading environment. Additionally, they offer negative balance protection, so you’ll never lose more than your account balance.
Verdict: Is FP Markets Worth It?
FP Markets is a solid choice for both beginners and experienced traders. With its strong regulatory framework, diverse trading instruments, and fast execution speeds, it ticks many boxes. However, the higher spreads on Standard Accounts and platform fees for Iress users are worth considering.
So, is it perfect? No. But it’s close enough for anyone serious about trading.
FP Markets excels with tight spreads and fast execution