2 mins readOverview
Best Known for Advanced Trading Tools FP Trading is another well-regarded MT4 forex broker that has a range of advanced trading tools and competitive pricing. Alongside an MT4...
Best Known for Advanced Trading Tools
FP Trading is another well-regarded MT4 forex broker that has a range of advanced trading tools and competitive pricing. Alongside an MT4 account, this broker also offers access to their IRESS platform. Overall, I believe FP Trading is a good choice for advanced, high-volume traders, thanks to the advanced features available. This includes Direct Market Access to specific trading instruments, a VPS option, and EAs (Expert Advisors).
For peace of mind, FP Trading is regulated by both ASIC and CySEC. However, it’s important to note that this broker does not accept US clients due to regulatory restrictions.
Features
The main standout feature of FP Trading is its tradable instruments along with its MT4 account. This broker offers many forex and CFD offerings, along with several advanced trading tools. I found the Trader Toolbox very useful, especially the technical analysis insights. In addition, copy trading is available via Myfxbook.
This broker also has a strong commitment to education, with a comprehensive learning center and many webinars. However, high-volume traders also benefit from the tiered loyalty program, which offers rebates and other features.
Pricing
FP Trading offers a Raw ECN account with spreads from 0.0 pips and a $3.00 commission per lot round turn. Standard accounts have no commission but slightly wider spreads. Minimum deposit starts at $100 for MT4 accounts.
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Our Verdict 4.1 / 5
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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
- Higher minimum deposit for certain account types
- No proprietary mobile app (relies on MT4/cTrader mobile)
General details
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Accounts
Type of Trading Accounts on FP Trading
FP Trading 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 Trading 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 Trading' 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 Trading' 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 Trading 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 Trading 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.
Frequently asked questions
Find the right answer to your question below.
Is FP Trading safe and trustworthy?
FP Trading 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 Trading offer?
One of FP Trading’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 Trading's fees compare to other brokers?
FP Trading 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.
What types of accounts does FP Trading offer?
There are several accounts to choose from when signing up with FP Trading. 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 Trading's customer support?
Many users praise FP Trading 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.
