FP Markets Review
FP Markets Review Summary
FP Markets is a well-regulated broker offering tight spreads, high leverage, and a wide range of trading instruments across MetaTrader and IRESS platforms. While it excels in competitive pricing and education, traders should consider its commission structure and limited customer support availability.
FP Markets is a global forex and CFD broker that has been operating since 2005. With a solid reputation in the trading community, FP Markets is known for its competitive trading conditions, broad asset range, and user-friendly platforms. In this FP Markets review, we’ll dive deep into its features, advantages, and potential downsides to help you decide if FP Markets is the right broker for you.
Key Features of FP Markets
- Regulation: FP Markets is regulated by ASIC (Australian Securities and Investments Commission) and CySEC (Cyprus Securities and Exchange Commission), ensuring a safe and secure trading environment.
- Trading Instruments: Offers various instruments including Forex, CFDs on indices, commodities, shares, and cryptocurrencies.
- Leverage: Offers up to 1:500 leverage for forex trading, giving traders the flexibility to maximize their capital.
- Platforms: FP Markets provides access to both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) and the IRESS trading platform.
- Spreads and Commissions: FP Markets offers tight spreads starting from 0.0 pips on the Raw account with a commission, and slightly higher spreads on the Standard account with no commission.
- Education and Research: Offers educational resources for beginners and advanced traders, including webinars, eBooks, and trading tutorials.
- Customer Support: Available 24/5 via live chat, email, and phone.
| Pros | Cons |
|---|---|
| Tight spreads from 0.0 pips | High commission on Raw account |
| Regulated by ASIC and CySEC | Limited customer support availability (24/5) |
| Wide range of trading instruments | No proprietary trading platform |
| Leverage up to 1:500 | Some withdrawal methods may incur fees |
| Multiple trading platforms (MT4, MT5, IRESS) | Weekend support unavailable |
| Extensive educational resources |
Pros of FP Markets
- Tight Spreads and Competitive Pricing
FP Markets is known for offering some of the tightest spreads in the market. The Raw account offers spreads from as low as 0.0 pips, making it an attractive option for scalpers and day traders. - Flexible Trading Platforms
Traders can choose between MetaTrader 4, MetaTrader 5, or IRESS. MT4 and MT5 are industry-standard platforms, while IRESS is ideal for those looking to trade shares. - Regulated and Trusted Broker
Being regulated by ASIC and CySEC gives FP Markets credibility and ensures client funds are kept safe in segregated accounts. - Wide Range of Trading Instruments
FP Markets allows you to trade over 10,000 financial instruments across forex, commodities, indices, shares, and cryptocurrencies. - High Leverage Options
With leverage up to 1:500, FP Markets is suitable for traders who want to maximize their position sizes with lower initial capital. - Educational Resources
FP Markets offers plenty of educational tools to help both beginner and advanced traders improve their strategies.
Cons of FP Markets
- High Commission on Raw Account
While the spreads on the Raw account are low, the commissions may be slightly higher than other brokers. For traders with smaller accounts, this can eat into profits. - Limited Customer Support Availability
FP Markets offers 24/5 support, but it is not available on weekends, which can be a drawback for traders who need assistance during the weekend. - No Proprietary Trading Platform
While FP Markets offers MetaTrader and IRESS, there is no proprietary platform. Traders looking for a more customized platform might be disappointed.
FP Markets Account Types
FP Markets offers different types of accounts tailored to various trading needs:
- Standard Account:
- Spread from 1.0 pips, no commission.
- Best for beginner traders who prefer to avoid commission fees.
- Raw Account:
- Spread from 0.0 pips, with a commission of $3 per side ($6 per round-turn).
- Ideal for experienced traders who need tight spreads.
- IRESS Account:
- For traders looking to trade shares, the IRESS platform offers competitive commissions and access to global stock markets.
Deposit and Withdrawal Methods
FP Markets provides multiple payment options for deposits and withdrawals:
- Bank Transfers
- Credit/Debit Cards
- E-wallets: Skrill, Neteller, PayPal, etc.
FP Markets does not charge deposit fees, but some withdrawal methods may incur fees. It’s important to check with your bank or payment provider for any external charges.
FP Markets Trading Platforms
- MetaTrader 4 (MT4):
A favorite among traders, offering advanced charting tools, Expert Advisors (EAs), and fast execution. - MetaTrader 5 (MT5):
The next generation of the MetaTrader platform, with additional features like more order types, depth of market (DOM), and enhanced charting tools. - IRESS:
A specialized platform for share traders, offering access to over 10,000 shares across major global stock exchanges.
FP Markets Mobile App
FP Markets offers a mobile app that is compatible with both iOS and Android devices. The app allows traders to manage their accounts, execute trades, and monitor the markets on the go.
Bottom Line
FP Markets stands out as a reliable broker with competitive trading conditions, tight spreads, and a wide range of instruments. Whether you’re a forex trader or someone interested in trading global shares, FP Markets has something to offer. The choice between MetaTrader and IRESS platforms gives flexibility, and the broker’s regulation by ASIC and CySEC ensures the safety of funds.
However, traders should consider the commission structure on the Raw account and the limited availability of customer support before making a decision.
Overall, FP Markets is a solid choice for traders of all experience levels, offering a comprehensive suite of tools and platforms to meet various trading needs.
Frequently Asked Questions (FAQ) About FP Markets
1. Is FP Markets safe?
Yes, FP Markets is regulated by ASIC and CySEC, ensuring your funds are kept in segregated accounts and the broker follows strict financial rules.
2. What leverage does FP Markets offer?
FP Markets offers leverage up to 1:500 for forex trading.
3. What is the minimum deposit for FP Markets?
The minimum deposit to open an account with FP Markets is $100.
4. Does FP Markets offer demo accounts?
Yes, FP Markets offers free demo accounts for both MetaTrader and IRESS platforms.
