FP Markets Broker Review

FP Markets_Broker review

FP Markets is a globally recognized CFD and Forex broker, started by an Australian broker in 2005 and has been globally regulated since proving itself as a dependable, trusted Forex broker.

It is licensed and highly regulated by the Securities Commission of the Bahamas (SCB), which is a corporate regulator and financial watchdog specifically for Forex brokers.

With this broker, traders can conveniently access a full range of trading tools and contract for difference (CFD) trading options from a single account.

FP Markets understands what traders need, providing state-of-the-art platforms with high-end performance, advanced market analysis tools and exceptional customer support.

 

Overview of FP Markets

Time to open an account Less than 24 hours
Bonus N/A
Publicly traded – listed on the stock exchange No
Country of regulation ASIC, CySEC
Trust score 81/99
Platforms MetaTrader 4, MetaTrader 5, IRESS, FP Markets App
Mobile App Yes
Copy Trading Yes
Islamic account Yes
Demo account Yes
Base currencies 10
Ave spread EUR/USD 1.14
Leverage 1:30
Trading fees (low, average, high) Average
Minimum deposit $100
Withdrawal fee No
Currency pairs 60
Cryptocurrency trading Yes
Deposit with electronic wallet Yes

 

FP Markets Pros and Cons

✔️Pros ❌Cons
Low-priced Forex fees Stock CFD fees are elevated
Creating accounts is fast and easy for

user convenience

Absence of product variety
Lightning-fast withdrawals and deposits
Narrow spreads from 0.0 pips
Markets are free of Price manipulation, dealing desk, and re-quotes
Customer Support can assist in most languages

 

Regulations

To safeguard the trader’s funds from Hedging, FP Markets complies with regulations that require an accurate record of transaction history and daily reconciliations of company funds.

FP Markets platforms feature narrow spreads, starting at 0.0 pips. The ECN pricing structures make it possible to offer competitive pricing to traders and the assurance of profitability based on the approval of regulatory authorities.

FP Markets makes use of advanced Fibre optics technology, connected to New York NY4 Equinix servers. This ensures fast execution speeds and prevents price manipulation, desk-dealing and re-quotes from occurring.

FP Markets has collaborated with financial banks, such as Barclays, JP Morgan, HSBC and Goldman Sachs, to ensure that traders can securely convert crypto and fiat currencies back and forth, with confidence and convenience.

 

Leverage

FP Markets supports leverage of up to 500:1 on Forex assets and valuable metal CFDs.

With FP Market’s leverage ratios, traders can easily enter profitable markets and increase their experience in the digital economy.

Many ordinary traders start with small deposits, but leverage makes it possible to invest considerably more funds into Forex markets with higher liquidity.

Lower capital investment is encouraged in some cases because higher leverage options may result in greater prospective losses, despite the potential rewards.

A popular term in Forex trading is Stop losses, which are parameters set in motion, based on the trader’s risk assessment profile.

Traders can prosper during the stages of price movements, all while ensuring robust contingency management schemes are adhered to.

FP Markets promotes increased involvement in the markets, enabling traders to open and close more ambitious trades and trade more effectively as opportunities arise.

 

Account Types

FP Markets offers both MT4/5 accounts and Iress accounts, with a choice of Standard, Platinum or Premier accounts for Iress accounts and Standard or Raw accounts on MT4/5 for clients.

Standard Account:

  • Platforms: MT4 and MT5
  • Spreads: From 1.0 pips
  • Commission (ASX): Zero
  • Minimum Deposit: AUD 100 or equivalent
  • Maximum Leverage: 500:1

 

Raw Account:

  • Platforms: MT4 – MT5
  • Spreads: From 0.0 pips
  • Commission (USD): $3.0
  • Minimum Deposit: AUD 100 or equivalent
  • Maximum Leverage: 500:1

 

Standard Account (IRESS) :

  • Commission per Lot: AUD 10 min, then 0.1%
  • Minimum Deposit: AUD 1,000
  • Equity CFD margin rates: from 3%
  • Financing: FP Markets Base Rate +4.0%

 

Platinum Account (IRESS):

  • Commission per Lot: AUD 9 min, then 0.09%
  • Minimum Deposit: AUD 25,000
  • Equity CFD margin rates: from 3%
  • Financing: FP Markets Base Rate +3.5%

 

Premier Account (IRESS):

  • Commission per Lot: No min, then 0.08%
  • Minimum Deposit: AUD 50,000
  • Equity CFD margin rates: from 3%
  • Financing: FP Markets Base Rate +3.0%

 

Market Instruments

FP Markets offers a Multi-Account Manager facility and Allocation Management Models, ensuring the control needed to maximize returns.

As a leading MAM/PAMM broker, FP Markets’ end-user programs are designed to appeal to traders and money managers who use Expert Advisors.

MAMs and PAMMs management monitoring allow for more transparency which investors find appealing.

 

Other benefits include:

  • Lot, percentage and equity allocation options
  • Unlimited trading accounts and deposit levels
  • Live order management within MAM
  • Real-time performance and commissions reports
  • Ultra-fast trade allocation
  • Support for all trading styles
  • Expert Advisors (EAs) for all clients
  • Full stop-loss, take-profit and pending orders

 

Fee Structure

FP Markets charges amid the least in terms of trading commission in the industry and only relinquishes charges enforced by merchants for e-banking.

Patrons should assess FP Markets’ fee schedule frequently and when managing one’s approval of the levies must be accepted.

 

Bank Wire Fee Schedule:

  • EFT (Domestic) Deposit and withdrawal fees: $0
  • EFT (Overseas) Deposit fees: Reliant on currency
  • EFT (Overseas) Withdrawal fees: $10 or comparable to other currencies
  • BPAY internet bank transfer fees: $0
  • BPAY Credit & Debit Card fees: 1.6% of amount for Iress, 0% for MT4/5
  • Deposit fees for MT4/5 account: 0%
  • Credit & Debit Card Deposit in AUD fees for Iress Account: 1.6% of the amount
  • Credit & Debit Card Deposit in Foreign Currency fees for Iress Account: 3.18% of the amount
  • China Union Pay deposit fees: 0%
  • Deposit fees for MT4/5 account: 0%
  • Deposit fees for IRESS account: Neteller charges a 4% deposit fee

 

Deposits and Withdrawals

FP Markets aids financial managers in defining profit/loss targets, on a per-account basis. Traders can withdraw or deposit funds stored in MAM/PAMM accounts without upsetting trading routines.

The terms and conditions regulate the deposit and withdrawals of funds between accounts and can be changed without official permission from the brokers.

 

The following is stipulated in the Ts & Cs:

  • Deposit and withdrawal fees as per schedule
  • Visa and MasterCard are accepted
  • Process period is at the option of FP Markets
  • The client must guarantee sufficient funds in their trading account at all times
  • Daily limits on deposits for some means of transfer to fulfil AML policies
  • Deposits made by credit or debit cards will be reimbursed to the card and earnings transferred to a bank account in the same name as the trading account
  • Withdrawals can only be made to a bank account in the same name as the users FP Markets trading account
  • FP Markets may use any suitable method at its discretion to process withdrawals
  • There is no cooling-off procedure for CFDs

 

Trading Platforms

FP Markets guarantee access to the latest software and market integration systems for their clientele.

There are multiple platforms to choose from, including MT4 and MT5, IRESS, WebTrader, Traders Edge Tools, Affiliate portal, IB portal, MAM/PAMM accounts and a high-end client portal.

 

MetaTrader4

The MT4 interface can be tailored according to the trader’s preferences. Innovative features of the platform include one-click trading, MarketWatch, live price streaming, trial accounts and a view of multiple charts.

Security is ensured by the 128-bit encryption techniques used and the MT4 app supports iOS, Android and Mac operating systems.

MT4 and MT5 Online Webtraders make trading simple with comprehensive suites of tools, various order types and implementation modes, real-time price estimates, data synchronization and online support in multiple languages.

 

Iress ViewPoint

Iress ViewPoint has cutting-edge functionalities to further improve your trading experience with superior trading tools and better compatibility with almost any web browser.

Iress Suite is well-suited to the latest browser versions, enabling automatic data sync between Iress Trader and Iress ViewPoint.

 

How to Open an FP Markets Account

The FP Markets procedure is simple and straight forward and accounts can be created conveniently using the mobile or desktop platforms.

Forex traders can experiment first by opening a demo account to the value of 50 000 in virtual currency, or a live profile can be created to start trading within minutes.

Personal details must be provided, along with any additional information requested. Accounts must be configured and testimony must be given to start trading.

 

Customer Support

FP Markets has technical support available 24 hours a day, 5 days a week via a live chat option, or over the telephone and email.

 

Educational Resources

Professional CFD traders from FP Markets published a series of eBooks with recommendations to provide traders with the knowledge of mapping out market outcomes, assessing market builds and evaluating trade opportunities.

The first eBook, Spot Opportunities in Volatile Markets, teaches traders to identify prospective trades and offers guidance on analyzing market trends when market activity is impossible to forecast.

Technical Analysis is explored in the second eBook and it provides examples and models showing how specialized charting tools can be used to maximize earnings and reduce risks.

The thirdeBook dives into the Fundamentals of Trading and it offers a comprehensive understanding of the correlation between the worldwide economy and the plethora of markets within it.

FP Markets gives traders access to instructional videos, an elaborate trading course and training on how to use the MetaTrader 4 platform, along with a glossary and the option to subscribe to the newsletter.

 

Research Tools

FP Markets’ VPS hosting enables Forex traders to use automated algorithms that eliminate the disturbances caused by server downtime or platform issues that could ruin trading opportunities.

Some of the benefits of FP Markets’ Forex VPS Services are:

  • Remote access – via a standard Windows Desktop Connection or its mobile application
  • Reduced electricity bills as devices can be turned off and still have automated trading procedures implemented
  • State-of-the-art technology that ensures smooth trading at your convenience
  • Improved latency for data to be faster and more efficient than any general home broadband
  • A unique toolbox for traders, consisting of 12 online tools that provide market insights to improve the trading experience
  • The FP Markets all-in-one FX calculator can determine all the vital bounds of trading, including the pip value, contract size, swap fees, margin rates and prospective profits across a range of assets

 

Accolades

FP Markets was awarded for having the highest amount of traders by the Investment Trends CFD Report 5 years in a row. Other awards were received for best trade execution, best customer service, and best value for money.

 

Conclusion

The FP Markets Money Manager Programme is ideal for thousands of professional fund managers largely due to its competent service offering.

As a multi-award-winning Australian Forex broker, they boast having over 50 FX pairs in all major currencies which include the US dollar (USD) as either the base, or counter currency, and others such as GBP/USD, EUR/USD and USD/JPY.

Their undertaking is to deliver a seamless Forex trading experience using the latest technologies with the best charting tools for well-versed decision-making, along with the support and guidance of a committed personal account manager.

FP Markets is a globally recognized CFD and Forex broker, started by an Australian broker in 2005 and has been globally regulated since proving itself as a dependable, trusted Forex broker.

It is licensed and highly regulated by the Securities Commission of the Bahamas (SCB), which is a corporate regulator and financial watchdog specifically for Forex brokers.

With this broker, traders can conveniently access a full range of trading tools and contract for difference (CFD) trading options from a single account.

FP Markets understands what traders need, providing state-of-the-art platforms with high-end performance, advanced market analysis tools and exceptional customer support.