FP Markets Review (2023)

What is FP Markets?

The FP Markets operating professional trading experience for a quite long time since the broker was established in 2005 and ever since serves over 12,000 clients worldwide. One of the main strengths is that FP Markets uses true ECN electronic bridges and enhance its proposal with powerful trading technology, also investing in its innovation.

Is FP markets a good broker?

First of all, a good broker is a safe broker. The proof of its safe trading environment is also confirmed by necessary legislation obligation and sharp obligation, while FP Markets is an Australian brokerage company headquarters in Sydney, Australia while ASIC regulation ensures trustable cooperation as well as full compliance with guidelines. Moreover, quite recently FP Markets enlarged its proposal and opened European Cyprus entity thus eligible for trading proposal within EEA zone.

Another strong point of FP markets proposal is their developed ECN technology that providing direct access to the liquidity providers without dealer intervention through Equinix NY4 Data Centers, and executes order through the best possible price within offering for the particular asset.

This technology currently is the leading solution that provides extremely fast execution speeds and the most favorable quotes with spreads from 0.0 pips allowing you to benefit from it.
 

FP Markets Pros and Cons

FP Markets is a well-regulated broker with good trading environment suitable for beginners, low pricing, a good trading proposal with selection of platforms with ECN trading environment and excellent trading education.

For the flip side Spreads for Stocks are higher, also some withdrawals adds on commission.

10 Points Summary

Awards

Overall, there are many factors why FP Markets gained its reputable position in the market and in addition is recognized multiply by various publications and reputable editions. The excellence of the service they offer, as well as trading conditions along with high regard from the traders, is truly a good prove of trust and great establishment.

Is FP Markets safe or a scam

Yes, FP Markets is safe to trade, it is an established Australian broker Prudential Markets Pty Ltd that respectively complied operation according to the world-known regulation Australian Securities and Investments Commission (ASIC), learn more  why trade with ASIC Brokers by the link.

Besides, its entity in Cyprus also regulated and set according to CySEC regulatory obligations and compliant to MiFID European directive.

How are you protected on FP Markets?

The regulatory status indeed the most important measure, as in simple words it means a client is treated fairly according to the international laws and requirements. Traders funds also being segregated from the own company funds, are held in selected top-tier banks, such as National Australia Bank and the Commonwealth Bank of Australia with daily fund reconciliation and application of the standard covers under investment protection.

However, different authorities apply adjusted regulation according to its legislation and particular laws, in a result may diverge from the entity or regulator or another. Likewise, FP markets Cyprus entity also apply negative balance protection to the clients accounts, as well as participate retail accounts to the compensation scheme. So always make sure to learn better under which entity you trade and what protection conditions and privacy policy applicable to you.

What Leverage FP Markets offer?

Being an Australian broker, FP Markets complies with the ASIC set of rules, but also due to its another entity in EU, FP Markets obliges to another regulatory restriction thus European clients of FP Markets can access much lower leverage levels with a maximum of 1:30. European traders can use a maximum of 1:30

So before you sign in make sure you verify conditions and understand how trading works. Besides, always make sure to learn about leverage as a tool in general, how to use it and what the smartest way for a particular instrument is. Indeed, leverage increases your trading size but may play a significant role in either potential gains or losses.

Account types

FP Markets offers two account types with STP and ECN execution models accordingly available through MT4 or MT5 platforms. Also, there are three IRESS account types that cover the need of those traders who prefer to use this particular software.

Along with some diversification between the proposal, some differences between the pricing model may take place as well, so be sure to check the most suitable one for your need.

How to open your account

The account opening process is digital and easy to follow, while also FP Markets confirms application either in the same day or within 1-2 days maximum so that you’re able to access the trading experience smoothly.

Actually, you should follow next steps that would be your FM Markets account opening process.

1. Enter your name, email, country of residence
2. Provide proof of information and upload your documents, ID, proof of address, etc
3. Select the account type and trading platform as your preference
4. Fill the questionnaire to prove your financial experience
5. Once account it confirmed follow with first deposit and start trading

Trading Instruments

Trading with FP Markets you may access to trade 10,000+ products ranging from Forex, Indices, Commodities, Metals, Bitcoin, Equity CFDs markets offers quite competitive spreads, as we already saw above in our FP markets review.

Also, each instrument defines its trading conditions, proposing flexible leverage throughout one account and require specified margins that you may always check through FP markets platform.

Fees

There are some specified conditions between FP markets pricing that may occur in different account types, alike IRESS account charges based on a commission plus percentage from trade basis according to the instrument.

Also, FP Markets covers bank withdrawal fees. 

Therefore, according to your trading style and volumes you trade, there is an option to select the best suitable one, but overall FP Markets truly proposing very competitive offering among the market. See fee table below and consider full pricing offering.

Spreads

FP Markets spread is defined by the account type too, thus the STP account EUR/USD floating spread is averaged 0.7 and the ECN proposes only 0.1 for the same pair. However, raw account charges on commission to every order, which is defined by the instrument and is 3$ for Forex instruments, 3.5$ for Metals and offers 0$ commission on commodities or cryptocurrencies.

For instance, see below a comparison of the most traded instruments and FP Markets offered spread on the, as well you can compare fees with another popular broker BDSwiss.

Rollover

In addition, always consider rollover or swap rate as a trading cost, since the broker charges a small fee for the position being held longer than a day and is defined by the instrument. Moreover, there is an option for Muslim trader to trade through Swap-Free account, which is suitable for followers of belief and tailored according to the strictest rules.

Deposit and Withdrawal Methods

For FP markets payment methods that allow you to proceed with account funding, some of methods including fees and another is free of charge. Generally, trading accounts are available at 10 base currencies, hence you can choose the best suitable option and transfer fund accordingly which is a great saving and easier money transfer for you.

Deposit Options

As for the deposit options themselves you may choose between the most common ones, also request support team to advise what is the best option for you according to your residence.

• Bank wire transfer,
• Various e-wallets including Neteller and Skrill
• Credit Cards or Debit cards

As for the fund transferring fees, FP Markets does not waive transfer fees for deposits via Bank Trnsfer and Broker to Broker, also FPM covers International fees up to 50$ for deposit greater than 10,000$. You may request to perform the transfer from other brokers in case you would like to transfer funds between the accounts and from other brokers.

FP Markets Minimum deposit

Minimum deposit amount for The Standard account is 100$ ECN account set also 100$

FP Markets minimum deposit vs other brokers

Withdrawal

The FP Markets withdrawal fees are different from the option to another, some require no fees and another will add on a small mark up as per policy applied, withdrawal options are wide including Wire transfers still most used among traders, e-wallets and cards, see table below.

How long does it take to withdraw money from FP Markets?

Typically FM Markets confirm and process the withdrawal request within 1-2 business days.

Trading Platforms

There is a comprehensive choice between the platforms included into the FP Markets proposal, thus powerful capabilities provided with the choice between MT4, MT5 and IRESS platforms as well MAM and PAMM account possibility for money managers.

Web Trading Platform

While MT4 and its newer version MT5 platforms do not require an introduction, as platforms giving a dynamic feature through detailed insights and one of the best in industry options for automated trading via EAs through and spreads from 0 pips. Platforms available as a Web Trading platform and supporting other versions too.

Desktop Trading Platform

There are MetaTrader versions that suit any device either PC or MAC, so you can follow with installation and enjoy great customization capabilities of MT4 or 5.

In addition, IRESS world known platform that suite products for global equities, indices, and futures CFD trading remains as your trading possibility with comprehensive, unparalleled trading and transparent pricing from market depth. Furthermore, the platform enhanced with automated order options also and complex order types, which definitely worth serious consideration.

Research

In addition, the platform enables one click trading, algorithmic rules, indicators, Autochartist and social trading functions that allowing to participate to the active trader community. Also, the MT5 brings one of the best, extended inbuilt indicators and graphical objects via pending orders and displayed currency market depth.

Furthermore, FP Markets looking to give back to their clients, by reimbursing VPS purchase. The client can sign-up to a chosen VPS provider trade minimum of 10 lots on RAW FX and get a cash payment back into the trading account with a maximum of up to 50$ a month.

Mobile Trading Platform

FP Markets offers MetaTrader 4, MetaTrader 5 and IRESS Mobile as mobile trading platforms for both iOS and Android with alerts, push notifications and full control over your trading and account right from your mobile.

Customer Support

Another good point in its client-oriented philosophy is a competent customer service which is available through various methods including Online Live Chat, Phone, emails, etc. Apart from the positive and high regard from the clients, FP Markets supports a range of languages, so you always may count on quality help.

In addition, there are established centers in the Asia region. Europe and Australia so the time zones and accessibility is counted, however customer service available on working days only 24/5.

Education

In fact, those who have information obtaining advance among the others while trading, hence learning is an endless task, and the good news is that FP Markets supports personal strives and provides with learning materials, analysis and guides. This is done through FP Markets Trading Series presenting three sections that help to become the better trader that diverse to a different level of traders, through the established Traders Hub.

Also, FP Markets provides great research tools with comprehensive analysis suitable for beginning traders and also supporting everyday trading, while features including market outlooks, news feeds, trading ideas and many more.

Conclusion

Overall, FP Markets is one of the most awarded CFD and FX trading providers. Besides, FP Markets established direct access to markets through sophisticated technology and provides a wide range of instruments to trade with competitive pricing. FP Markets is suitable for traders of different size and expertise while FP Market is a reliable brokerage along with their reliability due to the ASIC regulations.