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FP Markets review
By
3 mins read
Overview
Our 5-step process of verification and evaluation – How do we obtain information?
General inspection – 30%
Trading experience – 30%
Technical audit – 20%
Collective experience from collaborations with the broker – 10%
Interviews with real traders – 10%
See the entire process here.
Pros
Excellent customer support with 24/7 availability
Competitive spreads and fast execution speeds
Comprehensive educational resources including webinars and video tutorials
Strong regulatory standing with multiple tier-1 licenses
Cons
Limited range of tradable assets compared to some competitors
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Higher minimum deposit for certain account types
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No proprietary mobile app (relies on MT4/cTrader mobile)
General details
+61 2 8252 6800
Customer reviews
score
Read real reviews from traders all over the world:
Accounts
Type of Trading Accounts on FP Markets
FP Markets offers a range of trading accounts to cater to the diverse needs of traders. Each account type has unique features and benefits, ensuring traders can choose an account type that suits their trading goals and preferences.
- Unlimited Demo Accounts: FP Markets offers unlimited demo accounts for traders who want to test their trading strategies in a risk-free environment. This is an excellent opportunity for beginners to practice their trading skills without risking their money. The demo account is equipped with all the tools and features of the live trading account, making it an excellent learning platform.
- Standard Accounts: FP Markets’ Standard Account is designed for traders who prefer to trade with variable spreads. This account type offers access to over 10,000 trading instruments, including Forex, indices, commodities, and shares. The minimum deposit requirement for this account type is $100, making it accessible to traders with different budget sizes.
- ECN Accounts: FP Markets’ ECN Account is an excellent choice for advanced traders who require fast trade execution and tight spreads. This account type offers access to over 60 currency pairs and comes with a commission charge of $6 per lot. Traders on this account can also enjoy the benefits of negative balance protection.
- Swap-free Accounts: FP Markets offers swap-free accounts for traders who follow Islamic principles. This account type is free from swap fees; no interest is charged for holding positions overnight. This account type also offers access to all the trading instruments available on the Standard Account.
- VIP Accounts: First Prudential Markets’ VIP Account is designed for high-volume traders who require personalized trading services. This account type offers access to a dedicated account manager, free VPS hosting, and tighter spreads. The minimum deposit requirement for this account type is $50,000.
- Segregated Accounts: FP Markets offers segregated accounts for traders who want to separate their trading funds from the broker’s funds. This account type provides an extra layer of security for traders and ensures that their funds are safe. The minimum deposit requirement for this account type is $25,000.
Tradable instruments
Tradable instruments on FP Markets trading platforms include:
Frequently asked questions
Find the right answer to your question below.
FP Markets is a safe and trustworthy broker that is regulated by both ASIC and CySEC. These are two high profile regulators, giving you peace of mind that your information and money are both safe and secure. High regulation such as this means that the broker complies with strict rules and works transparently.
One of FP Market’s plus points is the number of trading platforms it offers to customers. You can choose from industry-standard MetaTrader 4 & 5, as well as Iress, and WebTrader. The app is also useful for on-the-go trading and is available on both iOS and Android.
However, many users feel that the web platform is a little outdated compared to MetaTrader and could use an upgrade.
FP Markets offers a low cost trading experience, with tight spreads and low commissions. The Standard account doesn’t charge any commission but the Raw account does, depending on the trade you make. However, these charges are still lower in cost compared to many other brokers.
It’s a good idea to think carefully and compare accounts before making a decision. This will ensure you choose the most cost-effective option for your specific needs. You should also compare with other brokers too. We have a range of comparison reviews, such as IC Markets vs FP Markets, to help you make your decision.
It’s also important to note that FP Markets isn’t available for US traders. In that case, our forex brokers for USA traders article will give you the information you need.
There are several accounts to choose from when signing up with FP Markets. The Standard account is a good choice for beginners. This option doesn’t have any commission charges and offers favorable trading conditions. You can also try the demo option to practice your trading strategies. The Raw account is a good option for more advanced traders, however this account does charge variable commission depending on trades.
Both of these accounts have tight spreads and a large range of tradable instruments to choose from. Alternatively, there is an Islamic account also.
By carefully comparing accounts, you can choose the best fit for your needs and preferences.
Many users praise FP Markets for its high quality customer support. You can contact a support agent 24/5 via live chat, telephone, or email, and support is available in several languages. Of course, you may experience slight delays during peak times, but this isn’t a regular issue.
Many users praise the advice from customer service agents and state that their problems are usually resolved quickly.
FP Markets compared with alternative brokers
To see the full broker review click “See review”, to see the complete table and compare more brokers visit our Comparison page.
- Overall verdict
- Trading
- Minimum deposit
- Maximum leverage
- Fees
- Withdrawal fee
- Deposit fee
- Safety
- Top-tier regulators
- Investor protection
-
3.8/ 5
-
3.6/ 5
- $50
- 1:500
-
3.5/ 5
- $0
- $0
-
4.8/ 5
- ASIC, CYSEC
-
Yes
-
See review
-
4.8/ 5
-
4.9/ 5
- $100
- 1:10000
-
4.7/ 5
- $0
- $0
-
4.8/ 5
- FCA
-
Yes
-
See review
-
3.7/ 5
-
3.8/ 5
- $100
- 1:400
-
3.2/ 5
- $0
- $0
-
4.2/ 5
- ASIC, CBI
-
Yes
-
See review
-
4.3/ 5
-
4.5/ 5
- $200
- 1:500
-
4.3/ 5
- $0
- $0
-
4/ 5
- ASIC, CySEC
-
Yes
-
See review
-
4.5/ 5
-
4.5/ 5
- $1
- 1:3000
-
4.5/ 5
- $0
- $0
-
4.5/ 5
- No
-
No
-
See review
-
4/ 5
-
3.6/ 5
- 20$
- 1:400
-
4.7/ 5
- N/A
- N/A
-
4.5/ 5
- FCA
-
No
-
See review
ColombiaCO
United StatesUS
