FP Markets

FP Markets Review 2023

Peter Lengyel
Written by
Peter Lengyel
Mark Fodor
Fact checked by
Mark Fodor
Updated
Jul 2023

Established in 2005, FP Markets is an eminent Australian forex broker that provides comprehensive online trading services. They deal in an impressive array of financial instruments, including but not limited to Forex, shares, indices, commodities, and cryptocurrencies. This diversity in options equips their clients with expansive avenues for Forex and CFD trading.

As a trustworthy entity, FP Markets is stringently regulated by reputed bodies - the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). This stringent oversight ensures a secure environment for traders to engage in Forex trading.

A unique aspect of this broker is the array of trading platforms they offer. From the well-known MetaTrader 4 (MT4) and MetaTrader 5 (MT5) to the innovative IRESS platform, FP Markets ensures that traders have access to the best tools and technologies. The broker also extends the opportunity to trade Forex through these platforms, further solidifying their appeal among investors.

FP Markets stands out for its diverse account offerings, facilitating a customized trading experience for every trader. These include the Standard and Raw accounts, tailored for different trading preferences, and the exclusive IRESS account for a more sophisticated trading experience. They also provide Islamic accounts, demonstrating their inclusivity. With competitive spreads, leverage up to 500:1, and a streamlined account opening process, FP Markets is a broker that offers robust solutions for every Forex and CFD trader.

Pros

Regulated by ASIC and CySEC
Offers various trading instruments
Competitive spreads and leverage
Multiple trading platforms
Excellent customer support

Cons

Limited availability in some countries
No fixed spread accounts
Higher minimum deposit requirement
is FP Markets a legit broker?

Why we think you should have no worries using FP Markets:

FP Markets based in Australia, founded in 2005
Regulated by ASIC and CySEC
Provides transparent pricing and detailed information
FP Markets offers negative balance protection
Has a conflict of interest policy

FP Markets Regulatory Compliance

FP Markets is a regulated broker that operates in multiple jurisdictions and is registered with several financial regulatory authorities. The company is headquartered in Australia and is regulated by the Australian Securities and Investments Commission (ASIC) under license number 286354.

FP Markets is also regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 371/18, allowing it to provide trading services to clients in the European Union.

  Australia Flag
First Prudential Markets Pty Ltd
Cyprus Flag
First Prudential Markets Ltd
St. Vincent and Grenadines Flag
FP Markets LLC
Regulations Australia ASIC Cyprus CySEC SVG FSA
Segregated Client Money Yes
Investor Protection
Negative Balance Protection Yes
Maximum Leverage 1:30 1:500
FP Markets provides client money protection to ensure the safety of client funds. The company holds client funds in segregated accounts with top-tier banks, which means that client funds are kept separate from the company's own operating funds. This helps to ensure that client funds are protected in the event of any financial difficulties or insolvency of the company.

FP Markets offers negative balance protection to its clients. This means that in the event of market volatility or other factors that cause a client's account balance to become negative, FP Markets will cover the negative balance and ensure that the client does not owe the company any additional funds.

FP Markets offers professional indemnity insurance to protect its clients in the unlikely event that the company is found liable for any losses due to professional negligence, error, or omission.

Account options and fees

FP Markets offers a range of account types to suit different trading needs and preferences. Here's an overview of the account types and fees:

Standard Account

This account is designed for new traders who want to start trading with a lower initial deposit. The minimum deposit for this account is $100, and the account offers variable spreads starting from 1.0 pips. There is no commission charged on trades.

Raw Account

This account is designed for experienced traders who prefer raw spreads and low commission fees. The minimum deposit for this account is $100, and the account offers raw spreads starting from 0.0 pips, with a commission of $3 per lot per side.

Islamic Account

This account is designed for traders who follow Islamic principles and require a swap-free trading environment. The account offers variable or raw spreads, depending on the account type chosen, and no swap charges are applied.

Demo Account

FP Markets offers a demo account for traders who want to practice their trading skills and test the platform before opening a live account. The demo account offers virtual funds to trade with, and it simulates real market conditions.


FP Markets charges competitive spreads and commissions, and there are no hidden fees or charges. The company offers flexible leverage up to 500:1, and there are no fees for deposits or withdrawals, except for bank wire transfers under $1000. The overnight swap rates, which are charged for holding a position overnight, vary depending on the currency pair and the account type chosen.

Deposit and Withdrawal Methods at FP Markets

Account currencies AUD, CHF, EUR, GBP, JPY, NZD, SGD, USD, HKD
Standard/RAW (MT4/MT5) accounts minimum deposit 100 currency units
Funding methods Bank Wire, Broker to Broker, 
Credit/Debit Cards, Neteller, Skrill
Deposit fees FP Markets does not charge fees for deposits
Deposit processing times from instant to 1 hour (bank wires up to 3 working days)
Withdrawal fees FP Markets does not charge additional fees for withdrawals
Withdrawal processing times variable, from instant to 1 day
Inactivity fee FP Markets does not charge an inactivity fee

FP Markets offers a range of base currencies for trading accounts, including USD, EUR, GBP, AUD, JPY, CHF, CAD, NZD, SGD, and HKD, providing flexibility and convenience for clients from around the world.

This is important for two main reasons. Firstly, if you deposit funds into your trading account using the same currency as your bank account or if you trade assets in the same currency as your account's base currency, you can avoid paying conversion fees. Secondly, it allows for easier tracking and management of your account's funds, as all transactions are conducted in the same currency.

Deposit options

FP Markets offers a range of convenient deposit methods for its clients, including:

  1. Credit/debit card: FP Markets accepts Visa, Mastercard, and UnionPay for deposits. Deposits made with credit/debit cards are processed instantly, and there are no fees charged by the company.

  2. Bank wire transfer: Clients can also make deposits via bank wire transfer. This method can take 2-5 business days to process, and clients may be charged fees by their bank for the transfer.

  3. Online payment systems: FP Markets also accepts deposits via a range of online payment systems, including Neteller, Skrill, FasaPay, POLi, BPay, and PayPal. Deposits made with these methods are processed instantly, and there are no fees charged by the company.

You can only deposit funds from accounts that are registered in your name.

Withdrawal options

FP Markets offers several withdrawal options for its clients, including:

  1. Credit/debit card: Clients can withdraw funds back to the same credit/debit card used to make the deposit, up to the amount deposited. Any additional profits can be withdrawn via bank wire transfer or another payment method.

  2. Bank wire transfer: Clients can withdraw funds via bank wire transfer, which can take 2-5 business days to process. FP Markets does not charge any fees for bank wire withdrawals, but clients may be charged by their bank for the transfer.

  3. Online payment systems: FP Markets also supports withdrawals via a range of online payment systems, including Neteller, Skrill, FasaPay, POLi, BPay, and PayPal. Withdrawals made via these methods are processed within 24 hours, and there are no fees charged by the company.

It's important to note that clients can only withdraw funds via the same method used to make the deposit, up to the deposited amount. Any additional profits can be withdrawn via bank wire transfer or another payment method. Additionally, clients may be required to provide additional verification documents before making a withdrawal, as part of FP Markets' anti-money laundering (AML) and know your customer (KYC) policies.

Overall, FP Markets offers a range of convenient withdrawal options for its clients, with fast processing times and no withdrawal fees charged by the company.

FP Markets Trading Platforms for Forex and CFDs

FP Markets offers several trading platforms for its clients, including:

MetaTrader 4 (MT4)

The most popular trading platform in the world, MT4 provides a user-friendly interface, advanced charting tools, and a wide range of technical indicators and expert advisors (EAs).

MetaTrader 5 (MT5)

The successor to MT4, MT5 offers similar features but with improved performance and additional asset classes such as stocks and futures.

Iress

A premium trading platform designed for professional traders, Iress provides advanced features such as customizable layouts, real-time news feeds, and trading tools.

Mobile trading apps

FP Markets offers mobile trading apps for iOS and Android devices, allowing clients to trade on-the-go and stay connected to the markets at all times.

WebTrader

An easy-to-use web-based platform that allows clients to access their trading accounts from any web browser, without needing to download or install any software.


Each platform offers a unique set of features and tools, and clients can choose the one that best suits their trading style and preferences.

Forex Pairs and CFDs Available at FP Markets

FP Markets offers a wide range of markets and products for its clients to trade, including:

Forex

FP Markets offers over 60 currency pairs, including major, minor, and exotic pairs, with competitive spreads and high leverage.

Indices

FP Markets offers CFDs on over 15 major indices, including the S&P 500, NASDAQ, FTSE 100, and Nikkei 225.

Cryptocurrencies

FP Markets offers CFDs on 5 major cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, with leverage of up to 1:5.

Commodities

Clients can trade CFDs on a range of popular commodities, including gold, silver, oil, and natural gas.

Stocks

Clients can trade CFDs on over 10,000 stocks from major global exchanges, including the US, Europe, and Asia.

In-Depth Trader Research in FP Markets Review

FP Markets Research

FP Markets offers a range of research tools and resources for its clients, including:

Market analysis

FP Markets provides daily market analysis and commentary on major currency pairs, indices, commodities, and cryptocurrencies, helping traders stay up-to-date on the latest market developments and make informed trading decisions.

Economic calendar

The company offers an economic calendar that highlights upcoming economic events and their potential impact on the markets, allowing traders to plan their trades accordingly.

Trading signals

FP Markets offers free trading signals for its clients, generated by expert analysts and based on technical and fundamental analysis.

Technical analysis tools

FP Markets offers a range of advanced technical analysis tools, including charting software, indicators, and trading robots, allowing traders to analyze market trends and identify potential trading opportunities.

Trading educational

The company provides a range of trading education materials, including webinars, eBooks, video tutorials, and trading courses, designed to help traders improve their skills and knowledge.

Overall, FP Markets provides a comprehensive set of research tools and resources to help its clients stay informed and make better trading decisions. The company's focus on education and analysis has made it a popular choice among traders who value research and analysis in their trading strategy.

FP Markets Education: From Demo Account to Forex Mastery

FP Markets Education

Axi offers a range of educational resources to its clients to help them improve their trading skills and knowledge. Some of the educational resources offered by Axi include:

Trading guides and tutorials

Axi provides a range of trading guides and tutorials on topics such as technical analysis, fundamental analysis, and risk management.

Webinars

Axi regularly hosts webinars featuring experienced traders and market analysts who share their insights and trading strategies with clients.

Video tutorials

Axi also offers a range of video tutorials covering various aspects of trading, including trading platforms, charting tools, and trading strategies.

Trading glossary

Axi provides a comprehensive trading glossary that explains key terms and concepts related to trading.

Demo account

Axi offers a free demo account to its clients, which allows them to practice trading in a risk-free environment using virtual funds.

Overall, Axi's educational resources are designed to help traders of all levels improve their trading skills and knowledge, and ultimately make more informed trading decisions.

Why Trust FP Markets? Evaluating Customer Service

FP Markets provides a range of support options for its clients, including:

Live chat

Clients can contact the company's support team via live chat 24/5, allowing them to get fast and efficient assistance with any issues or queries they may have.

Email

Clients can send an email to the support team at any time and expect a response within 24 hours.

FP Markets Contact

FP Markets provides phone support in multiple languages to its clients. Clients can contact the company's support team via phone during market hours, which are from 9:00 am to 7:00 pm AEST/AEDT (depending on daylight saving time) from Monday to Friday. The company provides phone support in English, Chinese, Spanish, Italian, French, Arabic, and other languages, allowing clients to communicate with a support representative in their preferred language. Phone support is a great option for clients who prefer to speak to a support representative directly and get immediate assistance with their queries or issues. Overall, FP Markets' phone support is a valuable resource for clients and demonstrates the company's commitment to providing excellent customer service.

FP Markets FAQ
Knowledge base

FP Markets has a comprehensive knowledge base on its website, which provides answers to frequently asked questions and covers a range of topics related to trading, account management, and technical issues.

Personal account managers

Clients with larger account sizes can benefit from dedicated account managers who provide personalized support and assistance with their trading needs.


Overall, FP Markets provides a range of support options to cater to the needs of its clients, from fast and efficient live chat to personalized account management services. The company's commitment to providing excellent customer service has earned it a reputation as a reliable and trustworthy broker in the industry.

FAQ

What does FP Markets broker offer to traders?
FP Markets is a global, well-regulated broker offering a range of services. They provide various trading platforms, including MT4 and MT5, for trading Forex and CFDs. They also offer different account types catering to the needs of diverse traders.

Can I trust the broker FP Markets as a Forex and CFD broker?
Yes, FP Markets is an award-winning, reputable broker regulated by the Australian Securities and Investments Commission and the Cyprus Securities and Exchange Commission. This regulation guarantees its credibility, ensuring it's not a scam broker.

Where can I find information about FP Markets?
You can find comprehensive information about FP Markets on their official website. The website includes details about the financial markets they operate in, the account types available, the trading platforms they offer, and other services provided by FP Markets.

What account types does FP Markets offer?
FP Markets offers various account types, including Standard, Raw, and Islamic accounts. Each type of account caters to different trading requirements and offers different Forex spreads. Details are available on the FP Markets website.

Can I trade Forex at FP Markets?
Yes, FP Markets provides traders with a conducive environment to trade a wide range of Forex pairs. Traders can use either the MT4 or MT5 platforms for their trading activities.

How do I open a live trading account with FP Markets?
To open a live trading account, visit the FP Markets website and follow the account opening process. FP Markets requires certain documents for identity verification during this process.

Does FP Markets offer a demo account?
Yes, FP Markets also offers a demo account. This allows traders to practice trading Forex and CFDs without financial risk before opening a live trading account.

What are the charges associated with trading at FP Markets?
The broker charges are associated with the specific account type you hold. FP Markets is known for competitive spreads, especially on their MT4 and MT5 platforms. Full details can be found in the broker review sections on their website.