FP Markets Review
Traders' search for ease of trading with deep liquidity, transparency, low latency tight Raw Spreads ends with FP Markets.
FP Markets is an industry leading CFD broker that was founded in 2005 in Australia. With over 15 years of trading experience, the broker is considered top tier. The company is regulated by the ASIC, CySEC, FSCA and registered in St. Vincent & the Grenadines. The broker offers a wide range of asset classes to trade, including forex, stocks, indices, commodities and cryptocurrencies. You can trade on the user-friendly MetaTrader platforms across all of your devices with tight spreads, low fees and quick trade execution speeds. The broker has excellent trading conditions and provides you with a plethora of superb trading tools and educational resources to ensure you have everything that you need to get the most out of your trading.
Established and regulated since 2005, FP Markets is a global Forex and CFD broker. They pride themselves on delivering an exceptional trading experience and have been recognised as one of the leading Global Forex Brokers on multiple occasions. You can trade over 10,000 CFD instruments with excellent conditions, leading platforms and premium tools.
Trading with FP Markets has its own pros and cons. The broker offers a very impressive range of over 10,000 instruments to trade at low costs. There is no minimum deposit needed to register with the broker which gives you free access to some of the best trading platforms and tools that you will find anywhere. You can practice trading with a demo account to familiarise yourself with the platforms and build confidence in your trading strategies. However, to trade CFDs and stocks, you will need to have a minimum balance of at least $100. The customers’ support is super friendly and just a few clicks away. On the other hand, it is worth noting that the broker is currently not listed on any stock exchange and does not hold a banking license, which shouldn’t be an issue for the majority of traders. It is quite rare to find an exchange listed broker, XTB being one of them.
- Large selection of financial instruments
- Raw spreads and rapid execution speeds
- No minimum deposit or deposit fee
- Fast account setup
- Seamless deposits and withdrawals
- A decent number of account base currencies
- Faster communication with Live Chat and Email
- Demo Account
- Educational Videos and AutoChartist
- MAM and PAMM accounts
- Social Trading
- ECN Account
- Islamic Account
- Minimum deposit of $100 AUD for standard and raw account
- Minimum deposit of $1000 AUD for Iress account
- Some withdrawal options charge fee
- Clients from the US not accepted
FP Markets have a unique portfolio with a large number of assets for you to choose from and create a diversified portfolio according to your own preferences. There are forex instruments, 10,000 stocks that are traded on the Australian stock exchange, stock CFDs of almost all the famous companies in the world, commodities CFDs, global stock indices CFDs and everyone’s favourite cryptocurrencies. However, the broker does not offer some asset classes like options, funds, bonds and ETFs. If you are looking for those, then you might want to consider AvaTrade as an alternative.
FP Markets Instruments Summary
|Instruments||FP Markets||Interactive Brokers||Saxo Bank|
FP Markets Intruments Summary with Trading Platforms
|Instruments||MT4||MT5||WebTrader||Iress||Mobile Trading App|
FP Markets lets you choose the environment that you want to trade in. You can choose to enjoy commission-free trading with a standard account. On the other hand, you can get spreads from just 0.0 pips and pay a very competitive commission fee when trading with a raw account. The commission fees are slightly below the industry average so you could make a saving in the long run. Investors who are keen to trade stocks will find FP Markets very cost effective with its Iress account. Investors with considerable volumes, such as $25,000, $50,000, are charged monthly fees of $55 on the Iress ViewPoint platform. However, when you consider the abundance of premium products and tools that you get access to, I think it is well worth it. Clients trading large volumes can also get a monthly rebate. A cashback rebate is provided to those who are eligible for each round turn lot.
|Instruments||Standard Account||ECN Raw Account||Iress|
|Forex||$0||$3 per lot one side||$0|
|Stocks||$0||$3 per lot one side||From 0.08% / $0.02|
FP Markets offers very tight spreads that vary from account to account. Spreads for a standard account start from 1.0, and for a raw account, the spreads start from as low as 0.0 pips.
Deposit and Withdrawal Fees
The broker offers a handful of payments methods for deposits and withdrawals. The broker does not require any deposit fees on its funding methods except the blockchain charges on cryptocurrencies deposits. I find the blockchain fee to be quite high and have had it take away a chunk of my deposit before, so make sure you are aware of that if you plan on using crypto payments. Depending on the transaction method used, it can take anywhere from instant to 3-7 working days for deposits to appear in your account. The broker lags a little bit in providing attractive offers to its clients when it comes to withdrawal. Depending on the transaction method used, it can cost from nothing to 7.25% of the transaction and be instant or take 2 business days to appear in your account.
|Payment Method||Deposit Fee||Deposit Fee|
|Wire Transfer||No Fees||2.5%|
|Credit/debit Card||No Fees||No Fees|
|Electronic Wallets||No Fees||0.5%-5%|
|Cryptos||Blockchain Fees Applicable||Blockchain Fees Applicable|
FP Markets do not charge any inactivity fees which is another big advantage that they have over the many competitors that do.
Traders can use a variety of industry-leading trading platforms to access global markets and manage their portfolios. For traders who don’t wish to bear any platform costs, Metatrader 4 (MT4), MetaTrader 5 (MT5), and webtrader come in handy, and mobile trading applications for iPhone and Android smartphones are also available. Traders can also access the global markets with Iress suite’s state of the art trading platforms with a $55 monthly fee, including GST. FP Markets help traders by providing various sophisticated trading tools embedded in all trading platforms. Each trading tool can help traders to make the best decisions on their investments.
FP Markets WebTrader
With FP Markets WebTrader, traders can enjoy the freedom of trading from any device and any browser. You can access you MT4 and MT5 accounts with WebTrader directly in your web browser without needing to download or install any software. You will also be running the latest version at all times which is another advantage in addition to the great flexibility that the web platform offers. Here are some key features of the broker’s WebTrader platforms:
- User Friendly
- Trade Forex, Share CFDs, Indices, Commodities & Cryptocurrencies in one place
- Trade from anywhere
- Charting tools and a variety of technical indicators
- One-click Trading
- Real-time price quotes
- Seamless Trading
- Multiple Language support
- Various order types
FP Markets Mobile Trading App
You can take the markets with you in your pocket using the FP Markets app. Trades can be opened, monitored, and reviewed in a matter of seconds. You can use a variety of trading tools to perform research and technical analysis. The mobile trading apps are available on all compatible iOS and Android devices. I really like the modern interface of the app and how it makes it so quick and easy for me to access my account and check the latest market prices whenever and wherever I want. Some key features of the mobile trading app are:
- Available on compatible iOS and Android
- Access global markets with a handheld device
- Charting tools and technical indicators
- Full account access (control transaction and change leverage)
- 24/7 customer support
- Build your favourite instruments list
Traders can access their MT4 accounts with the very popular MT4 trading platform with all its key features enabled. You can enjoy 3 chart types, 9 timeframes, 24 analytical objects and plenty of technical indicators. Automated trading through expert advisors is also a handy feature for those of you who want to run automated systems. Here are some of the main features of MT4:
- 60+ pre-installed technical indicators
- EA automated trading
- Profiles and custom chart templates
- On-click Trading
- Fast order executions
- Price Alerts
- Windows, Mac OS, iOS and Android versions are available
- Hedging and scalping allowed
- 6 order types
You can also get access to the global markets with the all in one MT5 trading platform. The platform comes with all the tools needed to do fundamental and technical analysis. You can create customised strategies with a larger variety of posssibilities when compared to the MT4 platform. MetaTrader 5 also supports algorithmic trading and copy trading, making it ideal for traders that use Expert Advisors (EAs) and those who want to copy other traders. Here are some of the core features of MT5:
- 21 time frames and 8 order types
- Depth of market display and technical indicators
- 6 order types
- Improved strategy tester
- iOS and Android versions are available
- Scalping allowed
- 80+ Technical Indicators
- 40+ Charting objects
- Windows, Mac OS, iOS and Android versions are available
- An advanced depth of market feature
Iress Trader is a web-based online trading platform that dynamically streams market data across multiple product types and exchanges. By combining access to full market depth, an enhanced in-house charting system with live news flows, Iress Trader provides everything you need to maintain your edge in the market.
With the Iress trading platform, traders can access three types of platforms. Iress could be considered the best option for professional traders with a large sum of investments. For beginners, I think either of the MetaTrader platforms will be more than sufficient. The Iress platforms are available as follows:
- Iress Investor
- Iress Trader
- Iress ViewPoint
Here are some considerable features of the Iress suite:
- Multi-asset and global trading capabilities
- Clear design and simple navigation
- Powerful charting
- Regular software updates
- Drawing tools
FP Markets Platforms Summary
|MetaTrader 4 (MT4)||✓|
|MetaTrader 5 (MT5)||✓|
|Other (Iress Suite)||✓|
MAM and PAMM
MAM is the abbreviation for Multi-Account Manager. In addition to the percentage allocation technique used in a PAMM, this allows for various unique ways to sub-allocate transactions. Percentage Allocation Management Module Manager, or PAMM, is a type of pooled money FX trading. Investors can be part of a group of sub-accounts traded collectively by a money manager or trader who has customers’ authorisation to trade their accounts under an LPOA (Limited Power of Attorney). Just keep in mind that performance of managed accounts cannot be guaranteed.
Forex traders may use the FP Markets VPS hosting for MetaTrader 4 and MetaTrader 5 to implement automated algorithmic strategies, such as EAs (Expert Advisors). With virtual private server access, any concerns about downtime influencing trades are greatly minimised. A dedicated VPS helps eliminate trading platform difficulties on operating systems caused by an internet connection or a server. I think this is a great tool for those of you who want to run automated systems around the clock without needing your computer switched on. You can also get a free VPS through some other brokers including IC Markets.
Forex Trading Calculator
Knowing how to control your risk as a trader is critical. FP Markets has five forex calculators: pip calculator, currency converter, margin calculator, swaps calculator, and profit calculator. These useful calculators assist traders in estimating the risks associated with their next trade before they execute it.
FP Markets is rich in research and education for all levels of traders. The broker has a dedicated academy for educating traders where you can learn everything that you need to get strated in the markets. You will find plenty of free and helpful research tools like an economic calendar, forex calculator, technical analysis and fundamental analysis.
FP Markets Academy
FP Markets has created a one-of-a-kind education program to help traders improve their knowledge and abilities, regardless if they are new to the game or experienced traders. The broker provides a comprehensive and understandable education course addressing important market sectors that is geared towards enhancing your trading knowledge. Every month, traders registered with the broker get free access to 22+ multilingual webinars to learn about trading basics and plan their trades. Professional traders can enhance their skills by discussing and exchanging opinions on market updates with some of the market’s best professionals. Beginners can build a strong trading career, while professionals can expand their knowledge and skills even further. The FP Markets Podcasts Series offers you some of the most valuable content that you will find from any broker. With the help of eBooks, expert traders introduce other traders to the markets and reveal their trading secrets, including how to master money management, market timing, risk management, and synchronising with global markets to achieve flawless timing. The broker also provides a series of educational video tutorials about its trading platforms. Overall, this is another area in which I feel the broker excels and blows away a lot of the competition.
To quickly grasp trade possibilities in real-time, FP Markets provide you with free access to the sophisticated Autochartist technical analysis tools. Autochartist offers real-time trade setups for both newbie and seasoned traders. I think this is an excellent tool for market analysis and would always look to opt for a broker that provides it. You can use this powerful software to find customised trading signals on all of your favourite financial markets. It can send you an alert notification when there is a signal for you to act accordingly. This brilliant tool can literally save you from hours of mundane chart analysis. It is worth noting that you can get Autochartist through some other brokers including Forex.com, who incidentally also happen to have the equally superb Trading Central software.
- Fully customisable and easy to use, the technical analysis tool
- Trading opportunities are delivered via Email, mobile applications
- 1000+ actionable trade opportunities & ideas per month
- Scan the market for high-quality trading opportunities
- Visual quality indicators
- Access to complex chart patterns
- Identification of market trends and key levels
- Identification of big movements
- Chart Patterns including Triangles, Wedges, Tops and Bottoms
- Identification of consecutive candles
- identification of Fibonacci patterns
- Identification of Key horizontal support or resistance levels
- Volatility Analysis
The broker provides daily analysis of global markets to help keep you up to speed with what is happening around the markets. I think this can be a good way to get inspiration for trade ideas that you may have otherwise overlooked.
FP Market has an up-to-date blog with 13 language translations. Traders can access all types of financial markets information on this blog.
FP Markets Research and Education Summary
|Other (Podcasts, Forex Calculator)||✓|
FP Markets provide you with plenty of payment options to choose from. The broker enables you to make deposits free of cost except for blockchain fees while using cryptocurrencies. However, most withdrawal methods require charges to be endured by the trader. I found the deposits and withdrawals to be hassle-free. Traditional payment options like debit/credit card and wire transfer and modern payment options like e-wallets and cryptocurrency payments come in handy. FP Markets accept a minimum deposit of $100. This is not the lowest you will find considering brokers such as Fusion Markets let you deposit anything from $1.
FP Markets Funding Summary
The Australian Securities and Investments Commission (ASIC) regulates FP Markets in Australia, while the Cyprus Securities and Exchange Commission regulates its operations in Europe. They are also regulated in South Africa by the Financial Sector Conduct Authority (FSCA). The broker is a global organisation since it is also a registered business in St. Vincent and the Grenadines.
This firm regulation means they must adhere to a set of tight laws and regulations, giving clients peace of mind. It creates a sense in its clients that they are dealing with a respectable and trustworthy trading broker who will act with the utmost honesty and transparency. Moreover, the client’s funds are kept separate from the company’s finances in segregated accounts with top-tier banks to ensure that they can’t be utilised for anything else. Negative balance protection is not available to ASIC and St Vincent clients.
FP Markets Regulation Summary
|SFC (Hong Kong)||x|
FP Markets Safety
FP Markets is a safe broker (average-risk) for forex and CFDs trading since it is regulated in one tier-1 and one tier-2 country. FP Markets is a reputable worldwide CFD and FX broker founded way back in 2005. The broker does not disclose its financial statements, and it is not listed on any stock exchange.
Although FP Markets’ headquarters are in Australia, its customer service team is available 24/7 to support its customers. You may reach out to them through various channels, including Live Chat, Phone, and Email. The broker offers client support in 40+ languages. I have always had a great experience when dealing with their support team.
FP Markets is a top-tier Australian Securities and Investments Commission (ASIC) regulated CFD and FX broker. It has cheap forex fees and does not impose a fee for inactivity. Account setup and depositing are both quick, and you’ll have access to high-quality instructional materials as well. On the negative side, stock CFD costs aren’t the cheapest, and the product selection is restricted since it only includes CFDs (equities, indices, and metals) and FX instruments. There are however an excellent choice of trading platforms and tools for traders of all experience levels. You can try FP Markets for free since account setup is simple and demo accounts are available. Overall, I believe that they are one of the best CFD brokers with a fantastic range of trading products and services to meet the needs of traders of all experience levels.