Sat, Feb 08, 2025

FP Markets Review

Score: [Rating: 4.4]

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Broker Details FP Markets
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!

Could Be a Game Changer

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.

Mobile Trading Apps

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.

Market Instruments

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.

Execution Speed

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.

Mastering 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.

Customer Support

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.

1 thoughts on "FP Markets Review"

  • January 20, 2025 at 10:32 am

    FP Markets excels with tight spreads and fast execution

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