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FOREX.com vs FP Markets 2022

BrokerNotes.co

Written by BrokerNotes.co

Last updated August 30, 2022
Published April 26, 2022

Trying to decide between FOREX.com and FP Markets? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, FOREX.com ranks more highly than FP Markets.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall Rating expand_moreexpand_less FOREX.com FP Markets IG
Overall Rating 8.7 / 10 7.9 / 10 9.7 / 10
Account Type expand_moreexpand_less FOREX.com FP Markets IG
Standard Account Yes Yes Yes
Mini Account Yes Yes Yes
Micro Account Yes Yes Yes
Islamic Account Yes Yes No
Copy Trading expand_moreexpand_less FOREX.com FP Markets IG
Social Trading / Copy Trading No Yes Yes
DupliTrade No No No
ZuluTrade No No No
Cryptocurrency expand_moreexpand_less FOREX.com FP Markets IG
Cryptocurrency (Physical) No No No
Cryptocurrency (CFD) Yes Yes Yes
Bitcoin Yes Yes Yes
ethereum Yes Yes Yes
Forex Trading (Spot or CFDs) expand_moreexpand_less FOREX.com FP Markets IG
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Indices (Index CFDs) expand_moreexpand_less FOREX.com FP Markets IG
DAX Yes Yes Yes
Dow Jones Yes Yes Yes
FTSE Yes Yes Yes
NASDAQ 100 Yes Yes Yes
Nikkei Yes Yes Yes
SP 500 Yes Yes Yes
Investments expand_moreexpand_less FOREX.com FP Markets IG
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Spread Betting No No Yes
Social Trading / Copy Trading No Yes Yes
Metals Yes Yes Yes
Energies Yes Yes Yes
Agriculturals Yes Yes Yes
ETF Yes No Yes
U.S. Stocks (CFD) Yes Yes Yes
Trading Platforms expand_moreexpand_less FOREX.com FP Markets IG
Apple iOS App Yes Yes Yes
Android App Yes Yes Yes
Proprietary Platform Yes Yes Yes
Desktop Platform (Windows) Yes Yes Yes
Web Platform Yes Yes Yes
MetaTrader 4 (MT4) Yes Yes Yes
MetaTrader 5 (MT5) Yes Yes No
Regulatory Licenses expand_moreexpand_less FOREX.com FP Markets IG
Tier-1 Licenses 4 1 7
ASIC Authorised (Australia) No Yes Yes
IIROC Authorised (Canada) Yes No No
FCA Authorised (U.K.) Yes No Yes
SFC Authorised (Hong Kong) No No No
MAS Authorised (Singapore) No No Yes
FINMA Authorised (Switzerland) No No Yes
CFTC Registered (USA) Yes No Yes
Tier-2 Licenses 2 1 2
Tier-3 Licenses 1 0 1
Research, Education expand_moreexpand_less FOREX.com FP Markets IG
Trading Central (Recognia) Yes No No
Forex News (Top-Tier Sources) Yes Yes Yes
Daily Market Commentary Yes Yes Yes
Autochartist No Yes Yes
Investor Dictionary (Glossary) Yes Yes Yes
Videos - Beginner Trading Videos Yes Yes Yes
Client Webinars (Archived) No Yes Yes
Trading Costs expand_moreexpand_less FOREX.com FP Markets IG
Minimum Initial Deposit $100 $100 AUD £250.00
Average Spread EUR/USD - Standard 1.1 (US August 2021) 1.2 (August 2022) 0.828 (September 2021)
All-in Cost EUR/USD - Active 1.1 (US August 2021) 0.7 (August 2022) 0.365 (May 2020)
Active Trader or VIP Discounts Yes Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes Yes
PayPal (Deposit/Withdraw) Yes Yes Yes
Trading Tools expand_moreexpand_less FOREX.com FP Markets IG
Watchlists - Total Fields 18 7 14
Mobile Watchlist Yes Yes Yes
Charting - Indicators / Studies (Total) 139 30 32
Mobile Charting - Indicators / Studies 88 MetaTrader (Default) 32
Trust Factors expand_moreexpand_less FOREX.com FP Markets IG
Year Founded 1999 2005 1974
Publicly Traded (Listed) Yes No Yes
Bank No No Yes
Authorised in European Union Yes Yes Yes
Trust Score 99 82 99
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FOREX.com vs FP Markets Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare FOREX.com vs FP Markets.

Can I trust FOREX.com?

FOREX.com has a trust score of 99, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.

Can I trust FP Markets?

FP Markets has a trust score of 82, giving it a "Trusted" trust label.

Is FOREX.com a good broker?

Is FP Markets a good broker?

FP Markets features excellent pricing, thanks to its highly competitive spreads for forex and CFD trading on MT4. That being said, FP Markets' pricing is not as low on its IRESS platform, which is optimized for share dealing. FP Markets fares well across most key categories, though its research and education have room to improve.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. FOREX.com is IIROC Authorised (Canada), FSA Authorised (Japan), FCA Authorised (U.K.) and CFTC Registered (USA), while FP Markets is ASIC Authorised (Australia)., neither have SFC Authorised (Hong Kong), CBI Authorised (Ireland), MAS Authorised (Singapore), FMA Authorised (New Zealand) and FINMA Authorised (Switzerland)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, FOREX.com is CySEC Authorised (Cyprus) and DFSA / Central Bank Authorised (UAE), while FP Markets is CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), NSE Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa) and SEC Authorised (Thailand). When comparing tier-3 licenses FOREX.com is CIMA Authorised (Cayman Islands), while FP Markets is none., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

Both FOREX.com and FP Markets offer a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade

Does FOREX.com offer MetaTrader? Does FP Markets offer MetaTrader?

Both FOREX.com and FP Markets offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.

How do FOREX.com and FP Markets differ in terms of minimum deposit? What about average spreads and funding options?

FOREX.com requires a minimum deposit of $100, while FP Markets requires a minimum deposit of $100 AUD. From our testing we found FOREX.com offers spreads of 1.1 (US August 2021), while FP Markets offers spreads of 1.2 (August 2022). FOREX.com supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for popular funding options, where FP Markets supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, FOREX.com or FP Markets?

FOREX.com offers a more diverse selection of investment options than FP Markets allowing you to trade Forex Trading, Trading - Forex or CFDs, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, FOREX.com has 5500, compared to 9790 from FP Markets.

Can I trade cryptocurrency with FOREX.com or FP Markets?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither FOREX.com nor FP Markets allow you to trade physical cryptocurrencies.

Who offers more research tools, FOREX.com or FP Markets?

In terms of research and research tools FOREX.com gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Trading Central (Recognia). In comparison FP Markets has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading.




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