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FP Markets offers trading services for foreign exchange and contracts for difference (CFDs). It has been in the business for a long time.
FP Markets Main Highlights
| 🚀 Minimum deposit: | 100$ |
| ⚖️ Leverage: | 1:500 |
| 🛡️ Regulations & Licenses: | CySEC, ASIC, FSA, FSCA |
| 💵 Deposits/Withdrawals: | Credit/Debit Card, Bank Wire Transfer, PayPal, Skrill, Neteller, SticPay, PerfectMoney, DragonPay, Rupee, Pagsmile, Rapyd, Rapid, XPay, Finrax, LetKnowPay, LuqaPay, PayRetailers, ApplePay, GooglePay, VirtualPay, PayTrust, FasaPay |
| 💻 Trading platform: | MetaTrader 4, MetaTrader 5, WebTrader, Mobile apps, iress |
| 🌙 Islamic Account: | Yes |
| 🔗 Main domain: | fpmarkets.com |
A Look at FP Markets
FP Markets is a veteran forex and CFD broker offering access to over 10,000 CFD products and competitive spreads starting at 0.0 pips. The broker provides direct, raw pricing from its top-tier liquidity providers, giving clients access to a large pool of regulated financial institutions. Customers are able to take advantage of the broker’s diverse liquidity and competitive pricing.
It provides a range of trading platforms, including MetaTrader 4 and 5, Iress (with three accounts available), and WebTrader. There is also a mobile application for Android and iPhone users. These platforms provide an advanced portal that allows investors to track their trades in real-time. Additionally, FP Markets offers VPS solutions that are suitable for auto-traders, EAs, and scalpers.
FP Markets Account Types
Standard account
| Account currencies | AUD, USD, GBP, EUR, CAD, CHF, HKD, SGD, NZD, JPY |
| Available leverage | 1:30 |
| Minimum deposit | AUD$100 (or equivalent) |
| Trading instruments | Foreign Exchange (FX), Commodities, Indices, Shares/Stocks, Bonds, Futures/Forwards, CFDs, Cryptocurrency |
Raw account
| Account currencies | AUD, USD, GBP, EUR, CAD, CHF, HKD, SGD, NZD, JPY |
| Available leverage | 1:30 |
| Minimum deposit | AUD$100 (or equivalent) |
| Trading instruments | Foreign Exchange (FX), Commodities, Indices, Shares/Stocks, Bonds, Futures/Forwards, CFDs, Cryptocurrency |
IRESS standard
| Account currencies | AUD, USD, GBP, EUR, CAD, CHF, HKD, SGD, NZD, JPY |
| Available leverage | 1:500 |
| Minimum deposit | AUD$1,000 |
| Trading instruments | Foreign Exchange (FX), Commodities, Indices, Shares/Stocks, Bonds, Futures/Forwards, CFDs, Cryptocurrency |
IRESS platinum
| Account currencies | AUD, USD, GBP, EUR, CAD, CHF, HKD, SGD, NZD, JPY |
| Available leverage | 1:500 |
| Minimum deposit | AUD$25,000 |
| Trading instruments | Foreign Exchange (FX), Commodities, Indices, Shares/Stocks, Bonds, Futures/Forwards, CFDs, Cryptocurrency |
IRESS premier
| Account currencies | AUD, USD, GBP, EUR, CAD, CHF, HKD, SGD, NZD, JPY |
| Available leverage | 1:500 |
| Minimum deposit | AUD$50,000 |
| Trading instruments | Foreign Exchange (FX), Commodities, Indices, Shares/Stocks, Bonds, Futures/Forwards, CFDs, Cryptocurrency |
Islamic account
Raw and Standard accounts on MT4 and MT5 trading platforms offer a swap-free option. This allows Islamic clients to trade any instrument available on the platforms.
Islamic standard account
| Minimum opening balance | 100$ AUD or equivalent |
| Maximum leverage | 1:30 |
| Instruments | 60+ FX pairs, metals, indices, commodities |
Islamic raw account
| Minimum opening balance | 100$ AUD or equivalent |
| Maximum leverage | 1:30 |
| Instruments | 60+ FX pairs, metals, indices, commodities |
FP Markets Top Features
No restrictions
You can use any trading strategy you want, such as scalping, hedging, and EAs. There are no restrictions on these strategies, and the spread between the price is very small, which makes it perfect for scalping and EAs.
Raw Spreads from 0.0 Pips
At FP Markets, traders benefit from some of the lowest spreads in the industry. Major currency pairs can be traded starting from 0.0 pips. Commission for forex trades is $6 per lot round-turn, while stock traders pay 0.1% (minimum AUD$10).
FP Markets Regulations and Licenses
FP Markets (Pty) Ltd is now an official Financial Services Provider regulated by the Financial Sector Conduct Authority of South Africa (FSP Number 50926). It is also monitored by the Cyprus Securities and Exchange Commission (Cyprus), the Australian Securities and Investments Commission (Australia), and the Financial Services Authority (Saint Vincent and the Grenadines).
FP Markets Trading Platforms
FP Markets offers a range of trading platforms, including the MetaTrader 4 and 5 suites, as well as the Iress Trader, Iress Investor and Iress ViewPoint. For forex, MetaTrader is the top choice, while the Iress ViewPoint is best for shares trading.Trader is the superior option for forex traders, while Iress ViewPoint is more suitable for share trading.
FP Markets is a great choice for copy trading, with its own social copy trading platform and access to the MetaTrader signals market. In addition, FP Markets supports Myfxbook. For more information about the best forex brokers for copy trading, check out our Copy Trading guide.
Mobile apps
It offers its own social copy trading platform, in addition to support for Myfxbook. This means that traders at FP Markets can benefit from access to the MetaTrader signals market and the ability to copy trade. If you’re interested in copy trading, our guide to the best copy trading forex brokers is a great place to start.
FP Markets has four mobile trading apps: MetaTrader, cTrading, Iress, and its own FX Markets app. I reviewed the MetaTrader and FX Markets apps. The charting features are basic on the FX Markets app, but traders have access to more advanced charting tools through MetaTrader. The app does not offer any trading tools, such as research or streaming news. It does, however, have a watchlist and lists of predefined asset classes.
FP Markets Deposits & Withdrawals
CFD Markets provides numerous methods of depositing and withdrawing funds, however, some of these may incur a fee.
You can pick from various base currencies when you open an account with FP Markets. The available account currencies are: EUR, GBP, USD, AUD, CAD, SGD, HKD, JPY, NZD & CHF.
Deposits
In most cases, you won’t be charged any fees when depositing funds into your FP Markets account. There are many ways to add money to your account:
- Bank transfer.
- Credit/debit cards.
- Electronic wallets (Neteller, Skrill, BPay, China union pay, Fasapay, PayPal, PoliPay, Paytrust, Ngang Luong).
A bank transfer usually takes a few days, but a credit/debit card payment will happen right away.
Withdrawals
You can withdraw funds from your FP Markets account using bank transfers, credit cards, and electronic wallets. The same e-wallets that are accepted for deposits, except PoliPay, PaySec, and BPay, can be used to make a withdrawal. There is no fee for domestic bank transfers and credit card withdrawals.
Related article: FXCM Review 2023 – Pros & Cons Revealed (brokerstimes.com)
FAQs
Is FP Markets a scam?
No, FP Markets was established in 2005 and is regulated by two authorities, making it secure for trading foreign exchange and contracts for difference.
Is FP Markets securities legit?
FP Markets is a legitimate broker because it is regulated by two trusted authorities, ASIC and CySEC.
What is the minimum deposit for FP Markets?
100$
Where are the offices of FP Markets located?
Level 5, Exchange House 10 Bridge St Sydney, NSW 2000 Australia
FP Markets Pros
- Easy account opening
- Quick deposits & withdrawals
- Low forex fees
FP Markets Cons
- Some accounts with high minimum deposit
- High stock CFD fees
