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Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

3.8
/ 5

FP Markets review

Updated on Aug 28, 2024
|
12 mins read

Overview

The market is full of forex traders claiming to be the best around. If you’re a beginner trader in particular, it can be a confusing situation. Yet, finding...
See full overview for FP Markets
Countries
+204
Devices
Minimum deposit
$50
Withdrawal fee
$0
Deposit fee
$0
Max insured
EUR 20,000
Our Verdict
3.8
/ 5
Commissions & Fees
3.5
/ 5
Deposit & Withdrawal
3.6
/ 5
Customer Support
4.4
/ 5
Account Opening
2.7
/ 5
Regulation & Safety
4.8
/ 5

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

  • Competitive Pricing That Won’t Break the Bank

  • Regulation You Can Trust

  • Quick and Easy Account Opening

  • Many Trading Platforms on Offer

  • A Range of Tradable Assets

Cons

  • Web and Desktop Platforms Need Improvement

  • Some Withdrawal Options Come with a Price Tag

  • Educational Content Could Use an Upgrade

General details

Type of accounts
Unlimited Demo Accounts
Standard Accounts
ECN accounts
Swap free accounts
Segregated accounts
VIP accounts
Execution Model
DMA
Deposit currency
USD
EUR
GBP
AUD
SGD
NZD
CHF
JPY
CAD
IDR
CNY
Regulatory complience
ASIC
CySEC
FSA (SV)
FSA
Deposit payment systems
Withdrawal payment systems
Support Languges
English
Arabic
Greek
Indonesian
Spanish
Italian
Malay
Romanian
Thai
French
Japanese
Autotrading
MQL.5 Signals Myfxbook AutoTrade MT4 EA MT5 EA
Contact details
[email protected] +61 2 8252 6800

Customer reviews

Read real reviews from traders all over the world:

L
Luke Adams
9 September 2022
Advantages: No
Disadvantages: They accuse clients of violating the rules that they did not violate. An affiliate program with 1% of turnover from customers, when all other options have at least 2%. Bad support. Private correspondence is publicly posted.
This platform cannot be called a broker. I started asking questions to support on how to deposit the account, because they have a complete mess with the deposit. The administrator got in touch. Who redid all my correspondence with a piece of crap. The word YOU doesn't exist to those guys. He was talking to me like he was some kind of trash. I reprimanded him. On what the guy began to threaten the ban and said "oh, you're going to regret it ... and then banned. I had to ask the next day to unlock it). Of course, I initially did not understand what the issue. The account was funded without their support. 10$. trades were strictly in the plus. I made $23 quickly. I was thrilled. And then the (tambourine dancing) began. I bet on the rise, the chart hangs precisely on my bet and goes in the opposite direction. I drain 10,50,20 and I realize that I am being bluntly cheated. I wrote a negative feedback to support where I was immediately banned. That's where the betting is done on newbies
H
Harrison Pratt
7 September 2022
Advantages: The author's trading platform More assets for trading Fast execution of transactions Large selection of accounts
Disadvantages: None
I already have quite a good experience in trading, and I have already decided to switch to larger amounts. If you invest more, you will get more, this is clear to anyone. But for large investments, you need to completely trust the company with whom you cooperate. I chose this broker. A company with very extensive experience in the financial market. And it seems to me really trustworthy in terms of security. The terminal can be used to choose both their own and work on MT4. I have requested the output only 1 time so far, but it is not quite fast, I waited a week - I would certainly like to see more efficiency here. I've met freezes a couple of times, not that it's a big minus, but still. In general, despite the small nuances, I trust the broker, and yet they have not bad licenses.
See all 14 customers reviews

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.
RAW - FP Markets
Swap-free account
Availability of a VIP account
Phone trading
Scalping
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Trading Platforms
METATRADER 4 METATRADER 5 Meta Trader 4 Mobile MetaTrader 4 MultiTerminal MetaTrader 5 Mobile
Deposit currency
USD
EUR
JPY
GBP
AUD
CHF
CAD
MXN
NZD
RUB
HKD
SGD
TRY
CZK
Trading instruments
Forex
1:500
Number of currency pairs: 44
ARS
DKK
AUD
BGN
CAD
CHF
CZK
EUR
GBP
HKD
HUF
ILS
JPY
MXN
NOK
NZD
PLN
RUB
SEK
SGD
THB
TRY
USD
ZAR
BBD
RON
CNY
UAH
AED
BHD
EGP
HRK
INR
IQD
ISK
JOD
KWD
LBP
OMR
QAR
SAR
MAD
MYR
PHP
1:500
1:500
1:100
Cryptocurrencies
Stop Out
50%
Minimum position size
50 units
Execution type
market
Spread type
Floating
Decimal places
5
Margin Call
100%
Locked Margin Level
0.01 units
Commission
AUD 3.5
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
Standard - FP Markets
Swap-free account
Availability of a VIP account
Phone trading
Scalping
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Trading Platforms
cTrader METATRADER 4 METATRADER 5
Deposit currency
USD
EUR
JPY
GBP
AUD
CHF
CAD
MXN
HKD
SGD
TRY
PLN
CZK
Trading instruments
1:500
1:500
1:100
Cryptocurrencies
Stop Out
50%
Minimum position size
0.01 units
Maximum position size
50 units
Execution type
market
Spread type
Floating
Decimal places
5
Margin Call
100%
Commission
$3
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents

Tradable instruments

Tradable instruments on FP Markets trading platforms include:

Cryptocurrencies
70
Stocks
15
Bonds
15
Indices
10

Frequently asked questions

Find the right answer to your question below.

Is FP Markets safe and trustworthy?

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.

What trading platforms does FP Markets offer?

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.

How do FP Markets' fees compare to other brokers?

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.

What types of accounts does FP Markets offer?

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.

How good is FP Markets' customer support?

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
FP Markets
  • Free VPS hosting
  • Specialized trading accounts
  • 3.8
    / 5
  • 3.6
    / 5
  • $50
  • 1:500
  • 3.5
    / 5
  • $0
  • $0
  • 4.8
    / 5
  • ASIC, CYSEC
  • Yes
  • See review
FxPro
  • 24/7 instant money withdrawal
  • Specialized trading accounts
  • Free VPS hosting
  • High leverage
  • 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
IC Markets
  • Specialized trading accounts
  • Tight Spreads
  • Low commissions
  • 4.3
    / 5
  • 4.5
    / 5
  • $200
  • 1:500
  • 4.3
    / 5
  • $0
  • $0
  • 4
    / 5
  • ASIC, CySEC
  • Yes
  • See review
FxGlory
  • 24/7 instant money withdrawal
  • Specialized trading accounts
  • 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
  • No
  • No
  • 4.5
    / 5
  • FCA
  • No
  • See review
Choose brokers to compare FP Markets to
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