FP Markets is a global forex trading and CFD broker established in 2005. It has its headquarters in Sydney, Australia, and is regulated by the Australia Securities and Investments Commission (ASIC) and Cyprus Securities and Exchange Commission (CySEC). This multi-regulated broker offers online trading services across various financial markets through a single account. FP Markets’ trading instruments, totaling 10,300+, include 60+ forex pairs, 10,000+ stocks CFDs, 19+ indices, 16+ commodities, 290+ ETFs and 2+ bonds. Notably, 5+ cryptos are also available to trade on the broker as CFDs.
The account opening at FP Markets is easy and fast. The broker supports all sorts of different payment methods for deposits and withdrawals. Furthermore, clients can open an account with FP Markets for a minimum deposit of $100. The company offers tight raw spreads starting from 0.0 pips and a leverage up to 1:500. Different account types are available for traders to choose as per their preferences. Both desktop platform and mobile app provide outclass features and a simple interface for clients to trade on.
Moreover, the educational material featured on its website is made up of informative lectures and resources for both new and expert traders to polish their skills and attain trading knowledge. Customer support by FP Markets is available in multiple languages with 24/5 live support.
This article will discuss in detail the broker’s pros and cons, regulations, online reviews, mobile app, deposits and withdrawals, fees and commissions, account types, education, and customer service, among many other things.
- Straightforward Account Opening Process.
- Non-Trading Fees Waiver
- Low Forex Fees.
- Instant Deposits and Withdrawals.
- Low Trading Fees.
- Support Several Base Currencies.
- High CFD Fees
- High Fees on International Money Transfers
- Limited Trading Products
- Ordinary Research Tools
- Outdated Design of Web and Mobile Platforms.
A broker is trusted by its clients only when its actions are reviewed and regulated by a regulatory body. FP Markets complies with stringent regulations to ensure investor fund protection. The regulations ensure that the broker complies with all the principles set by the regulatory bodies. The following are the offices and regulatory bodies of FP Markets’ entities.
First Prudential Markets Pty Ltd: The FP Markets Pty Ltd is regulated by Australia Securities and Investments Commission (ASIC). The headquarter is located at 10 Bridge St L 5, Sydney, New South Wales, 2000, Australia.
- Registration Number: ABN 16 112 600 281
- License Number: AFS License No. 286354
First Prudential Markets Ltd: The First Prudential Markets Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC). It is located at Aigeo Court 2nd floor, 109 Griva Digeni, 3101, Limassol BUSINESS CENTER 2, 93 A Evgeniou Voulgareos, 4153, Katw Polemidia, Limassol, Cyprus.
- Registration number: HE 372179
- License number: 371/18
FP Markets LLC: This entity is a registered company at St. Vincent and the Grenadines.
- Limited Liability Number: 126 LLC 2019.
FP Markets provides traders with an outstanding trading experience. Its list of supported countries includes Australia, China, Germany, UAE, the UK, etc. FP Markets is not available in Canada, Japan, and the US.
They support 20+ languages which include Italian, Chinese, Arabic, Greek, and French.
FP Markets offers 10,300+ financial instruments for easy growth trading opportunities to its users. These instruments include forex, shares, commodities, digital currencies, indices, ETFs and bonds. In this section of the review, we will go over each of these in detail.
Cryptocurrency is one of the most exciting asset classes and provides endless growth investment opportunities to clients. FP Markets offers 5+ cryptocurrencies inclusive of Bitcoin, Ethereum, Bitcoin Cash, XRP (Ripple), and Litecoin against US dollars and Australian dollars. Trading crypto eliminates the need to store the underlying asset and hence does not require a wallet.
FP Markets allow its traders to trade both share CFDs as well as indices. It has 10,000+ Australian and international share CFDs to trade in famous markets like London, Hongkong, and Paris. It covers many industries like Big Tech, aviation, tourism, and pharmaceuticals. The two platforms made available to clients to trade CFDs are Iress and MT5.
FP Markets offers a range of both hard and soft commodities to hedge risks with high-value assets. There are 16+ commodities, including Gold (XAU), silver (XAG), oil (CL/WTI), and many others. They are available with tight spreads and high execution speeds. The commodity market is highly volatile and trading commodity CFDs are a success for traders. The leverage is up to 1:500.
Indices are a great way to trade in both bullish and bearish markets as price moves without having any physical ownership. FP Markets provides access to famous 19+ indices like S&P 500, NASDAQ 100, EUREX, etc. The broker also has a partnership with financial institutions to ensure competitive margins at just 1% with zero commissions. The trading platforms for trading indices are MetaTrader 4 and MetaTrader 5.
Traders use Forex pairs to trade one currency to another from different regions. FP Markets offers 60+ currency pairs inclusive of GBP/USD, EUR/USD, USD/JPY and many others. The forex market is open 24/5 and the broker offers tight spreads from as low as 0.0 pips. The dealing desk is not required with no price manipulation. Leverage is up to 1:500 for forex pairs.
FP Markets offer 290+ ETFs to diversify their portfolios. Exchange-traded funds (ETFs) are a type of security that investors can buy or sell on the stock exchange through a brokerage company. ETFs are passive investment instruments that trade in financial assets at their current market price. Investors in ETFs do not need to physically purchase the investment instrument.
One of the most effective portfolio diversification strategies is to invest in bonds. FP Markets offers 2 bonds i.e US 10 YR T-Note Futures(US10YR) & UK Long Gilt Futures (GILT). The minimum spread for UK Long Gilt is 0.0 pip. Traders can benefit from credit upgrades and bond yield because of low volatility and fewer risks. The income is fixed and already predictable making the bond investment an attractive opportunity for traders. The platforms available are MetaTrader 4 and MetaTrader 5.
Spread is the difference between the bid and the ask price of an asset – making it one of the costs of trading. Spread depends on the liquidity and the broker the trader chooses. FP Markets is one of the brokers with competitive and tight spreads. The spreads are susceptible to many factors including market conditions. The minimum spread on forex and commodities is 0.0 pips while on the GILT bond, it is 0.0 pips.
Leverage is a financial tool that provides great exposure to price movements for traders. The maximum leverage is decided by the regulatory bodies. The trader can enter into a position of $500,000 with $1000 in their account, with a 1:500 leverage. That is also known as the deposit margin. FP Markets offer leverage up to 1:500 on forex and precious metals, up to 1:100 on index and commodities, up to 1:20 on share CFDs, and up to 1:2 on crypto.
|Spreads (From)||Leverage (Up to)|
Major Forex Pairs
Minor Forex Pairs
|Exotic Forex Pairs|
Fees and Commission
FP Markets’s fees can be classified into trading and non-trading. It uses the ECN pricing model to promote price competition. We’ll be discussing these different kinds of fees in this section of the review.
FP Markets charges low trading fees. Trading fees refer to the fees charged for trading. The trading fees include spread, commission and swaps.
Spread is measured in pips. FP Markets offer tight and low spreads starting from 0.0 pips. The tighter the spread is, the lower the trading fees. The minimum spread for AUDCAD is 0.0 pips for a raw ECN account while for a standard account, the average spread is 1.9 pips. The spreads are dependent on market conditions and vary from instrument to instrument.
FP Markets charges zero commissions on standard accounts on both MT4 and MT5 trading platforms. The commissions are already included in spreads. On raw accounts, the broker charges 3.0 USD/AUD/CAD/SGD on forex and metals. For ETFs in NYSE, the commission per side is 2 cents per share and the minimum charge is 2 USD.
Rollover Rate/Swap Fees
When a trading position is held overnight, swap charges materialize. Traders who use carry trade strategies require swap rates. The rates are different for every forex pair and apply at 5:00 pm EST. The rates keep changing due to the current interest rate differential between the two currencies and many other factors.
The non-trading fees are the fees incurred without taking into consideration the number and type of trade the traders take. We will review each of the non-trading fees below.
FP Markets charges no fees for processing bank wire transfers, but for other methods of withdrawals, the intermediary fee is charged by the financial institutions.
FP Markets charges no inactivity fee but they will disable the account if there is no activity for more than three months and there is no balance in the account. The account can be reactivated anytime by sending an email to FP Markets through the client’s registered email address.
FP Markets has a desktop, web, and mobile trading platform for the ease of its users. The Metatrader 4, Metatrader 5, Iress Essential, Web Trader, and Mobile App are available on FP Markets. The interface has a simple design to facilitate traders. Let’s take a look at both desktop and mobile trading platforms in this section of the review. A step-by-step guide to creating accounts on both platforms will also be explored.
Desktop Trading Platform
Although they do not have their very own proprietary desktop trading platform, the WebTrader, MT4 and MT5 platforms are offered to clients to achieve the same purpose. Traders like the desktop trading platform for its simplicity and raw prices that it offers in real-time with no third-party involvement. MT5 can be downloaded on Windows 7 or higher. It is also supported on Mac OSX. Some of the features of the MT5 desktop trading platform are as follows.
Powerful Trade Analysis Tools
MT5 offers 80 technical indicators. The 100 charts are available for traders to understand the currency and stock markets. The traders can conduct a technical analysis through an excess range of analytical objects.
Trade with Customized Robots
The desktop trading platform offers sophisticated automated trading tools for unending price quotes, charts, and trading strategy monitoring. Traders engage in effective financial trading 24 hours a day. You can design custom trading robots and indicators using the MQL5 programming language, according to your trading preferences.
A built-in economic calendar provides the most recent market news, in-depth insights, and macroeconomic releases to support financial news and fundamental research.
How to Open an Account and Trade on FP Markets Desktop Platform?
For opening an account on the desktop trading platform, the following steps are to be followed.
- Visit the company’s official website and click on the “Open Live” button to access the registration page.
- Provide personal details like your email id, name, mobile phone number, country of residence, and the type of account you want to create.
- After giving further information, your account configuration starts which requires you to choose the platform, trading account and currency, and leverage.
- Fill out a declaration questionnaire and accept the terms and conditions.
- Your account has been created but it’s incomplete without uploading a few documents. Only after uploading these documents, you can start trading.
- Once the account has been verified, you can deposit funds via a list of methods including Credit Card, Debit Card, Neteller, SticPay, Virtual Pay, Rupee Payments, and PagSmile.
- Start your trading journey with FP Markets and place your trade.
Mobile Trading App
The mobile version of FP Markets’s trading platform is available to be downloaded on both Android and Apple devices including your iPhone, iPad, and iPod Touch. The users can take and review trades within seconds. Let’s explore the features of the Mobile Trading App that make it a great trading app for traders below.
The mobile trading app offers 60+ currency pairs including major currencies like EUR, GBP, USD, and AUD. It also offers a CFD trading platform and access to global exchanges like NYSE and FTSE. The traders can also choose cryptocurrencies like Bitcoin, Ethereum, Ripple, and Litecoin.
The traders can easily set the stop-loss and take-profit limits. Technical analysis can be done through charts and a set of indicators.
The trading account can be completely accessed through the app. The menu can be edited and customized as per user preference. The browser can also be assessed through the app. Moreover, multilingual customer support is available 24/7 on the mobile trading app.
A demo account is available with no requirement for a minimum deposit to facilitate the users. The 10+ funding options are available in the app including credit card, debit card, wire transfer, PayPal, BPAY, Neteller, and Skrill.
How to Open an Account and Trade on FP Markets Mobile Trading App?
Below in this review, you will find a step-by-step guide to opening an account on the mobile trading app.
- Open the Google Play Store or App Store to download the mobile trading app on your tablets and mobile devices.
- Give all the personal details that are required.
- Fill in further information like your DOB, your residential address, financial information, and source of income and funds.
- Select the platform, currency, leverage, and password for your account.
- Fill out the questionnaire form as a declaration.
- Upload all the documents needed for verification and start trading.
- Once the account has been created, you can deposit funds via a list of methods including Credit Card, Debit Card, Neteller, SticPay, Virtual Pay, Rupee Payments, and PagSmile.
FP Markets has a wide range of accounts available for its clients to choose from. It offers four types of account: a forex account, an Iress account, an Islamic trading account, and last but not least a demo account for beginners who want to learn about the brokerage’s trading platforms in more depth. All of these accounts will be discussed in detail in this review.
A demo account is available on all trading platforms for beginners so that they can gain insight into trading and are able to polish their trading skills in a safe environment. For example, the virtual balance on an MT4 demo account is $100,000. Every asset class from stocks to cryptocurrencies is available to trade on a demo account. Not only beginners, but also experienced traders are welcome to try new trading strategies and features.
FP Markets provides two accounts for forex trading. The standard account and the raw account. Both accounts are available at MT4 and MT5 trading platforms.
The standard account has 60+ forex pairs, commodities, metals, and indices. For a standard forex account, the minimum deposit is 100 AUD or its equivalent. The spread starts from 1.0 pips and the maximum leverage allowed is 1:500. The commission charged is zero.
The raw account also has 60+ forex pairs, commodities, metals, and indices. The minimum deposit required for this type of account is 100 AUD or equivalent. The spread starts from 0.0 pips and the maximum leverage allowed is 1:500. The commission charged is USD 3 per lot.
Iress is a web trading platform for trading stocks and CFDs. It provides two accounts for its clients as per their suitability. The retail account and the wholesale/professional account. We will discuss the CFD trading requirements for both account types.
For a retail account, $1000 is the minimum deposit required for CFD trading and the financing rate would be FP Markets base rate + 3.0%. The brokerage rate is a minimum of $6 and 0.06%. Competitive DMA commissions are available.
For a professional account, $1000 is the minimum deposit required for CFD trading and the financing rate would be FP Markets base rate + 2.0%. The brokerage rate is 0.05%. Competitive DMA commissions and negotiable margin rates are available.
Islamic Trading Accounts
FP Markets offers Islamic forex accounts to its Muslim clients as the accounts have no swap charges for overnight positions. However, an administration fee will be charged. The accounts are in accordance with Islamic Law. The Islamic accounts are available on both MT4 and MT5 trading platforms but not available on the Iress platform. It is also available on standard and raw trading accounts.
Additionally, based on ownership, FP Markets accounts have different types as well.
- The Individual Account is owned by an individual.
- The Joint Account is owned by two or more individuals.
- The Corporate Account is owned by an entity.
FP Markets allow their clients a series of ways to fund/withdraw from their accounts. This section of the review will discuss the methods of deposit and withdrawal offered by FP Markets.
Depositing money into your account can be done through a wide range of methods. Methods like Credit Card, Debit Card, Neteller, SticPay, Virtual Pay, Rupee Payments, and PagSmile fund your account in an instant but methods like Bank Transfers require 1 business day to complete the transaction. FP Markets only allow deposits from the accounts that were opened under the name of the trader in question. All payment methods accept different currencies and work in different regions, so it’s up to the client to choose the method that is suitable for them.
For the MT4/MT5 platform, the minimum deposit allowed for standard and raw accounts is 100 AUD while for Iress, the minimum deposit is 1000 AUD.
|Credit card and Debit Card||AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD, CZK, PLN, AED||MT4/5: Instant|
Iress: 1 business day
|Bank Transfer||AUD, CAD, CHF, EUR, GBP, HKD||1 business day when funds are received|
|Neteller||AUD, CAD, CHF, EUR, GBP, JPY, INR, BRL, SGD, USD||MT4/5: Instant|
Iress: 1 business day
|Skrill||AUD, CAD, EUR, GBP, INR, USD, BRL||MT4/5: Instant|
Iress: 1 business day
|PayTrust||MYR, IDR, VND||MT4/5: Instant|
Iress: 1 business day
|Sticpay||JPY, EUR, GBP, USD, HKD, TWD, KRW, SGD||Instant|
|Fasapay||USD, IDR||MT4/5: Instant|
Iress: 1 business day
|Virtual Pay||KES, UGX, TSH||Instant|
Iress: 1 business day
|Perfect Money||USD||MT4/5: Instant|
Iress: 1 business day
|PagSmile||BRL, CLP, COP, PEN, MXN, USD||Instant|
|Rapyd||BRL, MXN, COP, CLP||Instant|
|Rapid Transfer||EUR, DKK, SEK, HUF, GBP, PLN, NOK||Instant|
|Cryptocurrency Solution (LetKnowPay)||ADA, BCH, BTC, DASH, ETH, LTC, PAX, XRP, TUSD, USDC, USDT, ZEC||Up to one hour|
|Finrax Payments||BTC, BCH, LTC, ETH, USDT, USDC||Up to one hour|
|Pay Retailers||BRL, MXN, PEN, CLP||Instant|
|XPAY||IDR, MYR, THB, VND||Instant|
|Apple Pay||AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD, CZK, PLN, AED||MT4/5: Instant|
Iress: 1 business day
|Google Pay||AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD, CZK, PLN, AED||MT4/5: Instant|
Iress: 1 business day
|B2Binpay||BTC, BCH, DASH, DOGE, ETH, LTC, TUSD, USDC, USDT, XRP, ZEC||1 business day|
|Broker to Broker||AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD||1 business day from when funds are received|
FP Markets also allows a wide range of withdrawal methods that include credit cards, debit cards, bank transfers, Neteller, Skrill, Dragonpay, etc. The method chosen by the client can affect the time taken for the withdrawal process. Any withdrawal made through credit cards, debit cards or domestic bank wire will take only 1 business day while international bank wire can take up to 5 business days to process payments.
FP Markets charges no fees for wire transfers, credit card and debit card payments, but other methods involve intermediary fees charged by banking authorities. The withdrawal amount and method need to be the same as your deposit until you withdraw the amount equal to your deposit. After that, the withdrawal method can be changed.
How to make a withdrawal on FP Markets?
- Login to your client portal.
- Once you are in, select “Funding” on the left side menu. Then select “Withdraw”.
- Select the method of withdrawal e.g “Bank Wire” in the drop-down menu.
- Select the trading account you want to withdraw from and choose overseas if your bank account is located outside Australia.
- Enter the rest of the required details and specify the amount to be withdrawn.
- Then click on “Submit”
With FP Markets, you have so many opportunities to learn from their Academy. The academy has everything in store for a beginner trader who has no enough knowledge and skills regarding trading products and platforms to someone who’s more experienced in the field.
FP Markets Academy has learning material for its clients, and the online courses and lessons are available at both beginner and advanced levels. The courses are designed to educate traders about the financial markets and their framework, trading products, and the terms associated with them.
The free webinars are available to meet the needs of traders from all skill levels. The live podcast is also broadcasted on Spotify and Google Podcasts to deliver educational material in an entertaining way.
Moreover, the platform tutorials are also offered to give a complete overview of the way trading platforms work and how traders can confirm their success using the latest features available on FP Markets platforms. The eBooks, guides, and glossary are also provided by the academy to ensure the best learning environment for traders. The eBooks review all the common mistakes made by traders and list ways to avoid them.
The broker provides customer support in 40+ languages. There are limited ways to avail the support of the customer service team at FP Markets. However, they are constantly making an effort to minimize the waiting time while ensuring quality service to their customers.
Customers can reach out via live chat, which is available 24/7 Monday to Friday. The issues and problems of the customers can be resolved instantly via live chat. Live chat is available in 20+ languages. Conversations via live chat are started and ended depending on the availability of the customer.
Email support is also available, with a wait time of only 30 minutes. If the customer is more comfortable talking on the phone about their issue rather than writing to the customer support team, they have the option to fill out a CallBack Request Form so that the customer service representative can call them back as soon as possible.
To make up for their limited options, FP Market has set up an organized FAQ page on their website to give as much information and answers to commonly asked questions regarding trading, fees and trading platforms for example. The FAQs are categorized into different categories and a search bar is also available to help find the answers to the questions.
In addition to all the customer services mentioned above, the broker also has social media handles to keep their customers up to date. Their phone number and official social media links are mentioned below here in this review.
Phone:+44 28 2544 7780
Instagram, Facebook, Twitter, LinkedIn and YouTube
What Reddit Users Say About FP Markets
FP Markets has been known for its reliability. One of the users on Reddit has praised the MT4 platform by FP Markets and the trading conditions set by the brokerage. The user is completely satisfied with the tight spreads on its raw accounts.
Another Reddit user, who also doubles as an FP Markets client, wrote about their positive experience in their review of the broker. They not only praised the tight spreads it offers but also the trading platforms it provides. The platforms are frequently updated and the users are happy about it.
What Quora Users Say About FP Markets
The Quora community largely wrote reviews in support of FP Markets. One of the users raised a query on Quora regarding the legit status of FP Markets, in response to that, Kane Ferdinand shared his personal experience and referred to it as a promising broker. He also praised the low spreads it offers.
Another user on Quora shared his great customer service experience in his comment, explaining that the team responded to his queries quickly. The user also mentioned that the spreads and trading conditions are good even in volatile market conditions.
TrustPilot Users Reviews About FP Markets
FP Markets has a 4.9/5 rating on Trustpilot – which is an exceptional rating for a forex broker. One of its users, Timi, reviewed FP Markets’s customer service. According to his comments, it was evident that the customer service team issued prompt responses.
Another user, Alex L from Great Britain, expressed that a lot of FP Markets’s services were good, however, they had a complaint regarding the lack of more trading servers and slow history downloading process. Other than that, he was satisfied with the swap rates and the availability of a real person customer service representative.
ForexPeaceArmy Users Reviews About FP Markets
FP Markets has almost all positive reviews by the users on ForexPeaceArmy with a rating of 3.1/5. The traders have shared their good trading experience. One of the users praised the fast withdrawal process by FP Markets. FP Markets has been found to be one of the most reliable and trustworthy brokers. Their response time is very short and they deliver fast services.
Another user found the customer service by FP Markets to be great. The customer service representative is available anytime to help the users. The withdrawal issue was resolved instantly. The spread and commissions are lower than their competitors, which is what most of the users love about the broker.
Is FP Markets Safe?
Clients often, when choosing a broker to begin trading with, ask the questions: “Is the broker safe?” “Is the broker trustworthy?”.
It is regulated by different regulatory bodies. The Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC) regulate and supervise the activities of the broker. FP Markets follows the code of conduct imposed by these regulatory bodies. The traders’ funds and other amounts are kept segregated from the company’s account. The tier-1 banks such as National Australia Bank and the Commonwealth Bank of Australia are used to keep the trader’s money separate with daily fund reconciliation. Standard covers are applied under the investment protection act.
After carefully examining its terms and safety measures, we can refer to FP Markets as a safe and trustworthy broker.
Other Products and Services
FP Markets also offers additional products like Social Trading, Myfxbook Autotrade, and many trading tools. Each of the additional products is discussed here in this section of the review.
Social Trading is the process in which traders learn about the trades of professional traders and their strategies, and analyze the performance of those trades using statistical data.
Copy Trading refers to automated trading in which the trader does not need to create his trading plan. Instead, he/she can easily follow and replicate the successful trades of professional traders. The platform allows copying multiple successful trades and ways to manage the risks as well. Note that you don’t have to install any additional software either.
Myfxbook is a platform by FP Markets that provides the Autotrade system to copy the wide range of successful trade systems into the MetaTrader 4 trading accounts. It is the premium copy trading option for clients. The Autotrade system can be added and removed anytime as per the client’s preference. There is no need to collect the data and calculate profits etc. since everything is automated on this platform.
FP Markets provides many trading tools to enhance the trading experience of its clients.
MAM is a Multi-Account Manager in which the sub-allocations of trades are done by a portfolio manager. Money managers who use EAs benefit from this software. PAMM is a Percentage Allocation Management Module Manager that acts as a pooled money for forex trading. This technology allows easy deposits and withdrawals without disturbing trading activity. Money managers easily calculate the performance fees for all of their clients.
Autochartist is a trading tool on both MT4 and MT5 platforms that use charts to make traders understand trading opportunities. It delivers 1000+ trade opportunities per month. The forex, metals, commodities, indices, and crypto markets are available on this fully customizable technical analysis tool. The future performance of beginners can be improved through complex chart patterns. Daily market reports are published in more than 24 languages in the financial markets.
FP Markets is a multi-regulated broker that has been serving the needs of traders for over 17 years. It provides access to a wide range of trading instruments and multiple platforms. Additionally, it provides all of the fundamental and sophisticated tools necessary for an engaging trading experience. The company allows beginner traders to come on board by keeping its deposit requirement as low as 100 AUD.
There is a wide range of funding options available for deposits and withdrawals. The provision of multiple accounts caters to the needs of traders as per their suitability. The swap-free accounts facilitate Muslim traders to trade while not compromising their religious principles. Innovative and simple trading platforms enhance the trading experience.
In addition to great trading services, FP Markets also provides copy trading and additional trading tools that help the traders in understanding the trends and trading opportunities.
FP Markets also offers customer support five days a week in multiple languages. The outstanding education and learning material are provided by the broker. Overall, the fast execution and tight spreads make it superior to its competitors.
Q & A
FP in FP Markets stands for First Prudential Markets.
FP Markets was founded in Sydney, Australia in 2005
To login to your FP Markets trading account, open the trading platform and select the appropriate server (MT4/MT5).
On the MT4/MT5 trading platforms, the minimum deposit is 100 AUD or its equivalent for both Standard and Raw accounts. The minimum deposit for Iress is 1,000 AUD or its equivalent.
FP Markets offers maximum leverage of 1:2 on Bitcoin.
The minimum withdrawal is the deposit amount. Starting with any card deposits, you must withdraw the same amount that you put in. You must make the remaining withdrawals in the same order as the card deposits, once any card deposits have been withdrawn back. Then, you have the option of using an alternative withdrawal method.
Yes, FP Markets offers a demo account. With no real money at risk, the demo account simulates live trading circumstances. The trader can encounter several aspects despite the fact that the funds are virtual. When a trader is ready, they can open a Demo account, which includes all the features of a live account.
The minimum spread on FP Markets standard accounts is from 1.0 pips.
FP Markets changes zero commissions on standard accounts while on raw accounts, the broker charges 3.5 AUD/CAD/SGD on forex and metals. For ETFs in NYSE, the commission per side is 2 cents per share and the minimum charge is 2 USD.
Yes, you can trade on MetaTrader 4 that quickly established itself as the preferred trading platform for forex trading.
The commission rate on stocks is 0.08% on FP Markets.
Users can reach out to customer support via Live Chat, Call Back, and Email Support.
FP Markets is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). These regulatory bodies regulate and supervise the activities of the broker.
FP Markets offer three major types of accounts. The forex accounts, Iress accounts, and Islamic accounts.
Yes, FP Markets have a mobile Trading app that can be downloaded on both Android and iPhone.
No, the trading fees on FP Markets are comparatively low. There are no deposit fees and almost zero commissions charged.