What are FP Markets?
Since the broker was founded in 2005, the FP Markets has been running skilled trading experience for quite a long time and serves over 12,000 clients worldwide. In addition, FP Markets connects traders to the market through electronic bridges and enhanced DMA pricing models.
FP Markets is an Australian brokerage company providing trade access for 13,000+ products ranging from Forex, Indices, Commodities, Metals, Cryptocurrency to Equity CFDs offering competitive spreads and versatile leveraging across one account. Company headquarters are in Sydney, Australia while ASIC regulation ensures trustworthy cooperation as well as full compliance with guidelines that provide a safe environment for trade.
One of the main strengths we discovered during the review of FP Markets is their developed ECN technology that provides direct access to liquidity providers without dealer intervention through Equinix NY4 Data Centers and executes order at the best possible price within the offering for the asset.
Currently this technology is the leading solution providing extremely fast execution speeds and the most advantageous quotes with spreads from 0.0 pips allowing you to take advantage of it.
Overall, there are many factors that explain why FP Markets has gained its reputable market position and is recognized multiply by various publications and reputable editions as well. The quality of the service they offer together with high regard from the merchants, as well as the trading conditions, is truly a good proof of confidence and a great establishment.
Is FP Markets secure or a scam?
FP Markets is safe for trading as it is a proven Australian broker who respectively complied with the Australian Securities and Investment Commission’s (ASIC) world-renowned regulation. In addition, as we discover in FP Markets review, European customers can now trade freely, as FP Markets has been issued a CySEC license that offers a controlled trading environment in accordance with ESMA and MiFID guidelines.
How are you protected?
The regulatory status is indeed the most important measure within FP Markets, as it means a client is treated fairly in accordance with international laws and requirements. Traders funds are also segregated from the company funds, invested in selected top-tier banks, with regular fund reconciliation and standard coverage being enforced under investment protection.
There is a wide choice between the platforms included in the FP Markets proposal, thus providing powerful capabilities for money managers to choose between MT4, MT5 and IRESS platforms as well as MAM and PAMM account options.
MT4 and its new version MT5 platforms do not need an introduction, as platforms provide a dynamic feature through detailed insights and one of the best industry choices for automated trading through and spreads from 0 pips through EAs.
Tools for Analysis
Furthermore, the platform allows one-click trading, algorithmic rules, indicators, as well as newly launched Autochartist which allows to participate with full trading capabilities. The MT5 also offers one of the best, extended built-in indicators and graphical objects across pending orders and scope of the currency market displayed.
Moreover, IRESS’ world-renowned platform for CFD trading suite products for global equities, indices, and futures remains as a trading choice with comprehensive, unparalleled trading and clear market-depth pricing. In addition, the platform is also enhanced with automated order options and complex order types, which are definitely worth taking a serious look at.
Moreover, through reimbursing VPS purchase, FP Markets seek to give back to their customers. The customer can sign up for a minimum of 10 lots on RAW FX to a selected VPS provider and receive a cash payment back into the trading account with a maximum of up to $50 a month.
You should choose the correct type of account for your trading style as the first step, and then continue with the following registration process. While the FP Markets offers two account types available through MT4 or MT5 platforms with STP and ECN execution models accordingly. There are also three types of IRESS account which cover the needs of those traders who choose to use this particular software.
The next important question about FP Markets spread is also defined by the account type, so the floating spread of the STP account – EUR/USD – is on average 0.7 and the ECN proposes only 0.1 for the same pair. However, for each order that is specified by the instrument, raw account charges on commission and is 3$ for Forex instruments, 3.5$ for Metals and offers 0$ commission on commodities or cryptocurrencies.
Our find on Forex fees
There are also some specified pricing conditions that may occur in different account types, as well as IRESS account fees based on a commission plus a percentage based on the instrument’s trade basis.
Therefore, according to your type of trading and the amounts you trade, there is a choice to choose the best suitable one, but overall FP Markets really offer very competitive market pricing.
For example, see below a comparison of the most widely traded instruments and FP Markets offered spread, and you can compare fees with the other common IC Markets broker.
|Asset/ Pair||FP Markets Fee Terms|
|Crude Oil WTI||3|
Additionally, always consider rollover or swap rate as a cost of trading, as the broker charges a small fee for the position held longer than one day and is defined by the instrument. In addition, there is an alternative for Muslim traders to trade via Swap-Free accounts which is ideal for these believers and tailored to the strictest laws.
What Leverage FP Markets offer?
Being an Australian broker, FP Markets complies with the ASIC set of rules and still provides a fairly high level of leverage on Forex instruments up to 1:500 which you can greatly benefit from. However, make sure you learn about leverage as a resource and how to use it in the most intelligent way, as an increase in your trading size will play an important role in either your future gains or losses.
Deposit and Withdrawal Methods
Another important note in our FP Market Review is the method of financing. Once you’re ready to open an account, you’ll find vast methods of payment that allow you to continue with account funding, while some of them, including taxes, and others, are free. Trading accounts are generally available in 10 base currencies, so you can choose the best fitting choice and transfer funds accordingly.
The trading account can be funded with:
- Transfer via bank wire,
- A choice of E-wallets
- Credit Cards or debit Cards
As for the transfer fees of the fund, FP Markets does not waive the transfer fees for deposits except for the credit card used to finance the IRESS platform account, where a charge of 1.8 percent is applied for the domestic card and 3.18 percent is added on.
FP Markets withdrawal fee
You may also request the transfer from other brokers if you wish to transfer funds between the accounts. The fees for withdrawal also vary from option to option, although some do not allow fees and others are added to a small markup, see table below.
Last, but not least, is a minimum amount of deposit which is determined by the type of account you choose at FP Markets. The Standard account needs just $100 as a start, while the ECN account also sets $100 and this is a fantastic opportunity to start with a relatively small deposit and enjoy numerous advantages at FP Markets.
Those who have knowledge gain lead among others when trading, so learning is an endless and important task, so the good news is that FP Markets supports personal strivings and offers learning materials, analysis and guides. This is done by the three sections of the FP Markets Trading Series that help to become the better trader that is versatile to a different trading level.
A winning combination for traders of various sizes and skills brings confidence in choosing FP Market as a credible brokerage and, of course, there is also their efficiency due to the ASIC rules.