FP Markets

FP Markets is a broker that started in 2005 and is known worldwide. It lets you trade in different things like forex, shares, and cryptocurrencies. You can use platforms like MT4 and MT5, cTrader, Iress, Mottai, and TradingView. FP Markets doesn’t charge a lot for forex trading. It’s easy to open an account and deposit money quickly. FP Markets also offers advanced features like automated trading and direct market access. They give you good research materials too, from Trading Central and Autochartist.

🏢 Headquarters Australia
🗺️ Regulation ASIC (Australia), FSA (Seychelles), FSCM (Mauritius), FSCA (South Africa), and CySEC (Cyprus)
💻 Trading platform: MT5, cTrader, IRESS, MT4, Mottai
💰 Account currency: USD, EUR, AUD, GBP, PLN, SGD, HKD, CAD, CHF, and JPY
💵 Withdrawal: Wire Transfer, Neteller, Skrill, PayPal, Paytrust, Online Pay, Debit Card
🚀 Minimum deposit: $100
⚖️ Leverage: 1:30 (ASIC), 1:500 (FSA), 1:3000 (FSCM), 1:500 (FSCA), 1:30 (CySEC )
💼 PAMM-accounts: Yes
📈️ Min Order: 0.01
🎮 Demo Account Yes
💱 Spread: Standard — from 1 pips
Raw — from 0 pips
🔧 Instruments: Currency pairs and CFDs on metals, indices, commodities, stocks, ETFs, bonds, and cryptocurrencies
📋 Orders execution: ECN pricing on MT4, MT5, and cTrader
DMA pricing on Iress
☎ Customer Support 24/7
📚 Education
Yes

Is FP Markets safe?

FP Markets is considered trusted. It’s not a publicly traded company, doesn’t run a bank, and has approval from two Tier-1 regulators, which are highly trusted. Additionally, it’s authorized by one Tier-2 regulator, considered trusted, and has no Tier-3 regulators, which would pose an average risk. However, it’s regulated by two Tier-4 regulators, indicating a higher risk.

FP Markets is authorized by two Tier-1 regulators: the Australian Securities & Investment Commission (ASIC) and the European Union via the MiFID passporting system. To learn more about its trustworthiness, you can check the Trust Score or find out where FP Markets entities are regulated.

Pros and Cons

Pros Cons
FP Markets offers MetaTrader and cTrader suites. They provide competitive spreads through their Raw ECN account, which charges commissions. FP Markets’ educational content isn’t very strong, although it has been improving over the years with the addition of educational courses and more articles.
In our 2024 Annual Awards, FP Markets won Best in Class for MetaTrader and Best Zero Spread Forex Brokers categories. The Iress platform of FP Markets focuses more on share trading than forex. Data fees can accumulate fast unless you trade actively or maintain a high-balance account.
FP Markets gives access to the Iress platform suite, offering more than 10,000 tradeable symbols. FP Markets’ Social Trading portal is compatible with MetaTrader 4 but lacks the advanced performance metrics found in leading copy trading platforms.
Provides Personal Account Managers While available in other regions, the cTrader platform isn’t accessible to FP Markets clients in Australia.
VPS Hosting Offshore entities are unregulated.
Comprehensive educational section Lacks a proprietary platform
Partnership programs Product portfolio is Limited.
Account opening and funding here is fast and easy The quality of the research tools is not that good.
Offers 24/7 multi-lingual support Desktop and web platforms are need to be updated.

Commissions and Fees of FM Markets

FM Markets offers really good prices for trading through its MetaTrader and cTrader services. It’s one of the cheapest brokers worldwide, especially for its ECN accounts where you pay commissions. They don’t charge much for forex trading and don’t add extra fees if you’re not active.

FM Markets’ Spread

We’ve checked the prices at FM Markets for different markets using the MetaTrader Platform when the London market opens and after the New York forex session starts. These are times when a lot of trading happens, so the prices are usually very good.

FM Markets’ Extra Fees

FM Markets doesn’t ask for extra money if you’re not using your account or to keep it running. There are also no fees when you put money in or take it out, even if you use bank transfers.

We think FM Markets has really good prices because:

Their trading prices are very competitive.

They don’t charge you for not trading.

There are no extra fees for putting money in or taking it out.

FP Markets Leverage

FP Markets offers leverage up to 1:500 for forex traders through its subsidiary in St. Vincent and the Grenadines. This helps traders who want to use high leverage and scalpers because it protects them from losing more than they invest. But in Cyprus and Australia, where FP Markets is regulated, the maximum leverage for retail traders is 1:30.

Keep in mind that, unlike Forex and cryptocurrencies, equity markets have specific opening and closing times for trading.

For MT4/MT5 traders who want to know trading hours:

  • Right-click on the symbol you’re interested in in the Market Watch window.
  • Choose Specification.
  • Look for sessions.

FP Markets Deposits and Withdrawals

At FP Markets, you need at least $100 to start. This is a normal amount. You can deposit or take out money using online services not owned by FP Markets. Cryptocurrencies are available for you to use too. FP Markets doesn’t charge you when you take money out of your account.

It doesn’t take long for your withdrawal to be processed. It’s easy for you to take out your money. FP Markets offers 30 ways for you to put money into your account. These include bank transfers, credit or debit cards, online payment services, and cryptocurrencies. You can see all the options in your account.

However, which ones you can use depends on where you live. Not all methods may be available to everyone. When you ask for your money back, it happens quickly and without trouble. FP Markets is praised for this. You can request your money back easily in your account, and it only takes a few seconds.

FP Markets doesn’t charge you to take out your money, but the service you use might. How fast you get your money depends on which method you choose. FP Markets says it takes one business day to process withdrawals internally. According to the rules, the name on your account and the payment service must match.

FP Markets Account Types

FP Markets has two types of accounts: the Standard Account, where there’s no commission, and the Raw Account, where there’s a commission. We suggest Forex traders go for the Raw Account because it’s cheaper to trade, with a minimum deposit of $100 and a maximum leverage of 1:500 for non-EU traders. Everything else about the accounts is the same.

Here’s an example to show the cost difference when trading 1.0 standard lot of EUR/USD for seven nights with 1:500 leverage. In the Standard Account, you’d pay $10 for the spread plus $31.29 for the swap rate, totaling $41.29. But in the raw account, you’d only pay $6 for the commission plus $31.29 for the swap rate, totaling $37.29. So, there’s a $4 difference per trade. This can add up to significant savings over time, especially if you trade a lot.

FP Markets offers two choices for MT4/MT5 accounts. You can also open as many demo accounts as you like, which are great for testing trading strategies. However, keep in mind that demo trading isn’t exactly the same as real trading. So, it’s best to use a demo account with a deposit size similar to what you plan to use in real trading to get accurate results.

FP Markets Trading Platforms

FP Markets has trading platforms for traders. They offer MT4, MT5, and cTrader platforms. Some clients might get the Iress platform, depending on where they are. MT4/MT5 and cTrader can be used on desktop, web, and mobile. MT4/MT5 platforms are okay on their own, but FP Markets gives twelve extras with their Trading Tools package, along with Autochartist and Trading Central services. This helps traders at FP Markets do better.

FP Markets also has the MAM/PAMM module for managing retail accounts. You can copy trades with MT4/MT5 and cTrader, which also support algorithmic trading. MT4 is good for automated trading, but MT5 isn’t as popular because it doesn’t work with older stuff.

The design of MT4 is old, but you can change it with plug-ins. It’s easy for new traders to use. They should learn about the top menu icons because they’re helpful.

MT4 has many ways to make orders and works well with automated trading. FP Markets doesn’t let third-party solutions connect to its platforms.

FP Markets Education

Honestly, FP Markets isn’t the best at education, but they’re getting better every year. They have podcasts, articles, and videos on their YouTube channel, all in one place called the FP Markets Academy. If they add more advanced video courses, it will make learning even better.

FP Markets has almost sixty old webinars, a few videos on YouTube, and about 34 articles for beginners. They also started a podcast, but it’s quite basic and feels like someone reading a book aloud instead of having a real conversation. They could make it better by adding interviews, personal stories, and market updates.

Even though FP Markets organizes their educational stuff by how much you know, the advanced part doesn’t have much. There’s only a short article and video, and there are no quizzes or ways to track progress. If they make these features better and add more stuff to learn, they’ll be able to compete with other places like Admiral Markets and IG.

FP Markets Customer Support

In our assessment, we’ve found that FP Markets provides excellent service in all areas. Their customer support team can speak 34 different languages and is available around the clock, every day. You can contact them through email, live chat, phone, or ask for a callback. They also have a helpful FAQ section that covers many common questions. Usually, traders only need extra help in urgent situations.

Final Thoughts

So, FP Markets is a trusted broker, especially for people who mainly trade Forex. They offer a competitive trading environment with commissions and use an upgraded MT4 platform. The way you can take out your money is really good too. However, if you want to trade shares, there are over 10,000 symbols available, but you have to use a different platform called Iress. This platform can be expensive because of additional fees, unless you trade a lot or keep a high balance in your account. But they don’t offer as much research or educational help as the top brokers do.

Frequently Asked Questions

Is FP Markets a market maker?

No, FP Markets is not a market maker by default. However, it can act as one if it chooses to do so.

Is FP Markets an ECN broker?

Yes, FP Markets offers ECN execution through its Raw Spread Account.

Is FP Markets a legitimate Forex broker?

Yes, FP Markets is a legitimate Forex broker. It complies with regulations from two authorities and operates as an authorized entity in one jurisdiction.

Is FP Markets a reliable Forex broker?

Yes, FP Markets is a reliable Forex broker. It has been operating since 2005, maintaining transparency and earning client trust for over fifteen years.

What is the minimum account balance required at FP Markets?

Check our minimum account balance at FP Markets guide for this.

What withdrawal options does FP Markets offer?

FP Markets gives you 21 ways to withdraw your money. These include bank wires, credit/debit cards, Neteller, Skrill, Fasapay, Paytrust88, Ngan Luong, and broker-to-broker transfers.

Is FP Markets a good choice?

Yes, FP Markets is good. It offers traders low costs, good trading tools, lots of money available for trading, and quick order placement. That’s why it’s one of the best brokers.

Is FP Markets suitable for beginners?

Yes, FP Markets is great for beginners. It provides educational materials, research done by their own team, services from Trading Central, copy trading, and helps manage retail accounts. This makes it perfect for new traders. Visit this link for FP Markets account opening guide.

Is FP Markets regulated?

Yes, FP Markets is regulated. The Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC) regulate FP markets.

What kind of broker is FP Markets?

FP Markets uses a mix of two types of brokers: market maker and ECN. They also use NDD order execution.

What’s the highest amount of leverage FP Markets gives?

FP Markets offers the highest leverage of 1:500 for Forex traders through its subsidiary in St. Vincent and the Grenadines.

FP Markets Regulations

These are the rules for the six parts of FP Markets:

  1. First Prudential Markets Ltd. follows rules from the Cyprus Securities and Exchange Commission CySEC (Cyprus). CySEC is a top regulator. Registration 371/18
  2. First Prudential Markets PTY Ltd. follows rules from the Australian Securities and Investments Commission ASIC (Australia). ASIC is a top regulator. Registration ABN 16 112 600 281 AFS 286354
  3. FP Markets (Pty) Ltd. follows rules from the Financial Sector Conduct Authority in South Africa (FSCA). FSCA is a good regulator. Note: This part isn’t accepting new clients right now.
  4. First Prudential Markets Limited follows rules from the Financial Sector Conduct Authority (FSA) in the Seychelles. The FSA is a lower-level regulator.
  5. FP Markets Ltd. follows rules from the Financial Services Commission (FSC) in Mauritius. FSC is a lower-level regulator.
  6. FP Markets LLC is a company in St. Vincent & the Grenadines. It doesn’t follow any specific rules.