FP Markets Review

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Review sections

• Investor Protection & Regulations
• Tradable Products
• Account Opening
• Deposit & Withdrawals options
• Web & Desktop Trading Platforms
• Mobile Trading Platforms
• Trading Features
• Commissions & Spreads
• Bonus & Promotions
• Customer Support
• Research
• Trader Education
• Trading Experience
• FAQ
• Conclusion  

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FP Markets Video Review

Investor Protection & Regulations

FP Markets Pty Ltd is authorised and regulated by the Australian Securities and Investment Commission (ASIC), as shown on the regulator’s register below:

FP Markets also has two other entities:

• First Prudential Markets Ltd – licensed and regulated by Cyprus Securities and Exchange Commission (CySEC).
• FP Markets LLC – an International Business Company (IBC) registered in St. Vincent and the Grenadines but not regulated.

The broker provides further security of client funds by following the below regulatory requirements:

• Holding funds in a segregated account from company funds.
• Negative balance protection policy.

Tradable Products

FP Markets offers clients the ability to trade on more than 10,000+ financial instruments covering Forex, Shares, Cryptocurrencies, Metals, Commodities and Indices. Below is a list of just some of the available markets for trading:

Forex	Forex
EURUSD | AUDCAD | CHFJPY | NZDUSD| USDZAR	EURUSD | GBPUSD | USDCAD | EURJPY GBPAUD | NZDUSD | AUDUSD | EURGBP

Stocks	Stocks
Apple | Facebook | Bank of America Volkswagen AG | Daimler AG | Adidas | Visa Commodities	Apple | Facebook | Bank of America

Trading costs such as spreads and overnight funding (swap) rates vary depending on the entity, account type opened and instrument being traded and are covered further down this review.

Account Opening

FP Markets offers several account types suitable for beginner and advanced traders. Beginners can benefit from a Standard MT4/MT5 or Raw MT4/MT5 account whereas advanced traders can open an Iress Standard, Iress Platinum or Iress Premier account. Demo and Islamic (swap-free) accounts are also available.

The main features of the Standard MT4/MT5 and Raw MT4/MT5 accounts are shown in the below table:

The broker also offers the Iress Standard, Iress Platinum and Iress Premier account which are suitable for professional traders:

It should be noted that 1:500 leverage with the ASIC entity is for professional clients only and retail clients are eligible for leverage up to 1:30. Additionally, leverage amounts may differ with the St. Vincent and the Grenadines entity.

Users can open a new account in just a few steps, as described below:

1. Personal Details: Name, email, account type, contact number, gender and country of residence.
2. Further Information: Date of birth, contact address, employment status and occupation.
3. Account Configuration: Choose trading platform – MT4, MT5 or Iress, account currency and password.
4. Declaration: Questions relate to previous trading experience and product knowledge. Additionally, users will be required to agree to terms and conditions.
5. Start Trading: Upload proof of identity (government ID or passport) and proof of address documents (utility bill or bank statement dated within six months).

The client portal is shown below:

FP Markets does not accept U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations.

Deposit & Withdrawals Options

The below tables show the fees and processing times for some of the popular payment methods available:

Clients can deposit and withdraw funds through the client portal.

Web & Desktop Trading Platforms

FP Markets MetaTrader MT4/MT5 Web

• Trade on multiple asset classes.
• Real-time quotes in Market Watch.
• Customisable price charts.
• No download – Cross Browser Compatibility.

FP Markets MetaTrader MT4/MT5 (Windows/MAC)

• One-click trading.
• Advanced charting.
• Expert Advisors.
• Downloadable for MacOS.

FP Markets Iress (Viewpoint/Trader/Investor)

Iress Viewpoint:

• Automatic data sync between Iress Trader and Iress ViewPoint.
• Designed for active traders.
• Compatible with the latest browser versions.
• Manage multiple portfolios.

Iress Trader:

• Transparent DMA Pricing.
• Compatible on Windows or Mac.
• Access to full Market depth.
• Ability to set alerts on trade execution, news and price levels.

Iress Investor:

• Simple and intuitive interface.
• Real-time price streaming and live news.
• Access to trade pre and post-market auctions.
• Compatible on Windows or Mac.

A screenshot of the FP Markets MetaTrader 4 Windows platform is shown below and is covered in more detail in the video review.

Mobile Trading Platforms

FP Markets offers clients the ability to access mobile trading on the go from the FP Markets Trading App, MetaTrader 4 and MetaTrader 5 apps as well as the Iress app.

All mobile trading apps can be downloaded on Android and iOS systems and the app download links can be found in the Google PlayStore or Apple AppStore respectively.

The FP Markets Trading app provides a range of different features including:

• Customisable favourites menu.
• Real-time pricing and interactive charts.
• Full account access from within the app – deposit funds and change leverage levels.
• Access multiple markets.

The FP Markets Trading App is covered in more detail in the video review.

Trading Features

FP Markets offers a range of additional trading features including access to MAM/PAMM Accounts, Virtual Private Server (VPS) services, Autochartist, a MetaTrader 4 Traders Toolbox, Myfxbook AutoTrade and Social Trading services. Each of these is described below:

• MAM/PAMM Accounts: Allows portfolio managers to trade multiple client accounts through one master account.
• VPS: Allows traders to run automated trading strategies 24 hours a day, 7 days with high security and ultra-fast execution speeds with minimised downtime. This service is free for clients who trade enough volume.
• Autochartist: Provides automated Technical Analysis and Trade Alerts, Volatility Scanner, Candlestick analysis and more.
• MT4 Trader’s Toolbox: A suite of 12 powerful online trading tools that include an Alarm Manager, Correlation Matrix, Excel RTD, Market Manager, Sentiment Trader, Mini terminal and more.
• Myfxbook AutoTrade: A copy-trading service provided by Myfxbook that allows clients to copy a wide selection of systems directly to their FP Markets MetaTrader 4 account.
• Social Trading: Another form of copy trading but this service allows users to modify how they want to mirror the trades of the person they want to copy.

Commissions & Spreads

Trading costs with FP Markets vary, depending on account type and the market traded. The Standard MT4/MT5 account is commission-free but with slightly larger spreads compared to the Raw MT4/MT5 account which is commission-based but with spreads from 0.0 pips. The below table shows the trading costs for Standard MT4/MT5 and Raw MT4/MT5 accounts:

Iress accounts have more segregated fees that include platform fees, live data feeds as well as exchanges fees. However, some of these fees are waived depending on the trading volume and although this review covers the commissions in the below tables, users are advised to check the broker’s website for a more detailed breakdown of additional fees.

Iress accounts charge the below commissions:

Equity CFD

International Futures CFD

Forex:

*GST is not applicable on CFD transactions.

**Premier account rates shown

^MT4 & MT5 Platforms only

For Non-Islamic accounts, overnight funding or ‘swap’ fees are charged on positions that remain open overnight (22:00) GMT. If positions are being held over the weekend a three-day ‘swap’ charge will be charged on Wednesdays.

The broker does not charge any inactivity account fees.

Bonus & Promotions

Customer Support

“FP Markets offers award-winning multilingual 24/5 customer support via phone, email and live chat. The broker also has a comprehensive FAQ section covering a variety of topics including Account Opening, Company Information, Funding and Withdrawals, Trading and Partners.”

FP Markets offers award-winning multilingual (English, Arabic, Indonesian, Italian, Spanish, Russian, Chinese, Japanese, German, Portuguese, Thai, French, Malay, Greek, Vietnamese) 24/5 customer support via phone, email and live chat.

The broker also has a comprehensive FAQ section covering a variety of topics including Account Opening, Company Information, Funding and Withdrawals, Trading and Partners.

After submitting a question through the live chat we were connected to an agent who answered our question within 10 seconds, as shown below:

Contact Information:

• Address: First Prudential Markets Pty Ltd, Level 5, Exchange House 10 Bridge St, Sydney NSW 2000, Australia.
• Email: sales@fpmarkets.com
• Phone: +61 (0)2 8252 6800
• Social Media:
  • Facebook
  • Twitter
  • LinkedIn
  • YouTube

Research

“FP Markets offers various forms of market research, including a variety of Technical and Fundamental analysis articles as well as daily YouTube videos.”

FP Markets offers various forms of market research, including a variety of Technical and Fundamental analysis articles as well as daily YouTube videos. Technical Analysis is broken into two parts, a daily report and a technical report. The daily report mainly focuses on technical analysis on the currency markets whereas the technical report is broader and covers multiple asset types. This report is updated weekly and users can also subscribe for daily emails.

Fundamental Analysis also includes two categories – Daily Analysis and Currency Point. The former provides comprehensive coverage of the Australian, US, Commodities, Oil Futures, Forex, European and Asian markets and is updated daily. The content in this report is high-quality and also contains a detailed ‘Week Ahead’ video that is featured on the broker’s YouTube channel.

The YouTube channel also features various analysis videos, webinars and live trading sessions. Videos are uploaded in multiple languages such as Vietnamese, Arabic and Polish.

Trader Education

“FP Markets offers a good selection of educational material through its Traders Hub that includes various Articles, Trading Ebooks, a Glossary and Trading Tutorials.”

FP Markets offers a good selection of educational material through its Traders Hub that includes various Articles, Trading Ebooks, a Glossary and Trading Tutorials. A further breakdown of each section is provided below:

• Platform and tools: This section contains numerous articles on using the MetaTrader platforms as well as several technical charting articles.
• Trading: These articles cover a variety of trading-related subjects such as What is Forex Trade ‘Volume’?, Trading Forex Using Fundamental Analysis, How to Calculate Profits and Losses of Your Forex Trades and more.
• Forex 101: These articles are suitable for beginner traders and cover the basics of the Forex and CFD markets. Topics include – Equity CFDs? The Basics of Trading CFDs Explained, How to Manage Your Risks in CFD Trading, and Forex Trading: An Introduction to the Power of Market Correlations.
• Trading Ebooks: The trading books provide detailed information on important aspects of forex trading including money management, trading systems, volatility technical and fundamental analysis along with tips on how to spot potential trading opportunities in volatile markets.
• Glossary: Contains a comprehensive list of key financial terms and their definitions.
• Trading Tutorials: Includes step-by-step videos introducing beginners to the MetaTrader 4 platform. These videos are also available through the broker’s YouTube channel.

Overall, the education material is extensive and covers a wide variety of subjects that is suitable for beginner and more advanced traders.

Trading Experience

“FP Markets provides a vast service to clients allowing them to access over 10,000+ markets covering Forex, Shares, Cryptocurrencies, Metals, Commodities and Indices. There are multiple trading platform options and account types available for beginner and advanced traders, and all costs and fees are fully transparent on the broker’s website.”

From our observations, FP Markets provides a vast service to clients allowing them to access over 10,000+ markets in Forex, Shares, Cryptocurrencies, Metals, Commodities and Indices. Newer traders can take advantage of the commission-free Standard MT4/MT5 account or choose the Raw MT4/MT5 that is commission-based but has spreads from 0.0 pips. Both accounts come with ECN-Pricing and rapid execution through Equinix servers.

Advanced traders can take advantage of the Iress accounts that come with more flexible options and advanced platform functionality, however, the charges associated with these accounts are more broad and minimum funding is also higher. These accounts also provide Direct Market Access (DMA) that allows direct trading on multiple exchanges with no requotes or dealing desk.

There are also great additional trading features available, many of which are available free of charge, and the broker does offer an extensive library of educational material and market research that is high quality and is updated regularly.

FAQ

Is FP Markets regulated?

FP Markets is regulated through different entities by ASIC and CySEC.

Where is FP Markets based?

First Prudential Markets Pty Ltd, Level 5, Exchange House 10 Bridge St, Sydney NSW 2000, Australia.

How does FP Markets make money?

FP Markets makes money mainly through commissions, spreads and swaps on certain asset classes.

How do I deposit in FP Markets account?

Funds can be deposited into a trading account via debit/credit card, bank wire, Neteller, Skrill, Poli Pay, Bpay, Fasapay, Paytrust88, Ngan Luong, PayPal and Online Pay.

What is the min. deposit for FP Markets?

The minimum deposit is $100.

How do I withdraw money from FP Markets?

Withdrawals can be made via debit/credit card, bank wire, Neteller, Skrill, Fasapay, Paytrust88, Ngan Luong, PayPal and Online Pay.

What is the max leverage in FP Markets?

1:30 for retail clients and 1:500 for professional clients.

How do I open an account with FP Markets?

An account can be opened at the click of a button on the FP Markets website and can be done in just a few steps.

Does FP Markets use MetaTrader?

Yes, MetaTrader 4 and MetaTrader 5.

Conclusion

“FP Markets Pty Ltd is authorised and regulated by the Australian Securities and Investment Commission (ASIC) and provides the ability to trade on more than 10,000+ financial instruments covering Forex, Shares, Cryptocurrencies, Metals, Commodities and Indices, through the popular MetaTrader 4, MetaTrader 5 and Iress trading platform.”

FP Markets Pty Ltd (FP Markets) was founded in 2005 and is a globally recognised forex and CFD broker with 40+ industry awards. It is authorised and regulated by the Australian Securities and Investment Commission (ASIC), offering negative balance protection and segregation of client funds. FP Markets also has an entity regulated in the EU by the Cyprus Securities and Exchange Commission (CySEC).

The broker provides the ability to trade on more than 10,000+ markets covering Forex, Shares, Cryptocurrencies, Metals, Commodities and Indices. Clients can choose from a range of accounts including the commission-free Standard MT4/MT5 account and Raw MT4/MT5 account that is commission-based but has spreads from 0.0 pips. Advanced traders also have the option of opening Iress accounts that are commission-based but offer a more comprehensive trading package.

Both Standard MT4/MT5 and Raw MT4/MT5 accounts come with ECN pricing, rapid execution through Equinix servers and maximum leverage of 1:500 (professional clients only). There are also no trading restrictions which is ideal for clients that want to use expert advisors (EA’s), no requotes or a dealing desk and the minimum deposit is just $100.

There are various funding methods available including debit/credit card, bank wire, Neteller, Skrill, Poli Pay, Bpay, Fasapay, Paytrust88, Ngan Luong, PayPal and Online Pay. The broker does also provide an industry-leading Introducing Brokers (IB) Programme as well as an Affiliate programme.

Users also have access to additional trading tools that include MAM/PAMM accounts, Virtual Private Server (VPS) services, Autochartist and more. The research and educational material is also comprehensive and comprises articles, videos, ebooks, a glossary, trading tutorials and more. The broker also has award-winning multilingual 24/5 customer support via phone, email and live chat.

• ASIC and CySEC regulated.
• 10,000+ markets are available.
• Raw spreads from 0.0 Pips.
• 24/5 Multilingual award-winning support.