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FP Markets Review

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FP Markets is a forex trading services broker. They give traders access to a wide variety of instruments in several markets like currencies, indices and commodities.

Pros

  • Used by 10,000+ traders
  • Established in 2005
  • Regulated by ASIC
  • Min. deposit from $200

Cons

To open a live account, you’ll need a minimum deposit of at least $200. Alternatively, FP Markets offers a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by ASIC (AFSL #286354). FP Markets puts all client funds in a segregated bank account and uses tier-1 banks for this. FP Markets has been established since 2005, and have a head office in Australia.

Before we dive into some of the more detailed aspects of FP Markets ’s spreads, fees, platforms and trading features, you may want to open FP Markets ’s website in a new tab by clicking the button below in order to see the latest information directly from FP Markets.

Visit FP Markets

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

FP Markets screenshot Open a demo account

Losses can exceed deposits

What are FP Markets's spreads & fees?

Like most brokers, FP Markets takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The spreads displayed below are based on the minimum spreads listed on FP Markets’s website. The colour bars show how competitive FP Markets' spreads are in comparison to other popular brokers featured on BrokerNotes.

FP Markets
EUR/USD (Average: 0.7 pips) Not offered 0.7 pips 0.1 pips
GBP/USD (Average: 1.1 pips) Not offered 1.7 pips 0.1 pips
USD/JPY (Average: 1.1 pips) Not offered 0.6 pips 0.1 pips
AUD/USD (Average: 0.8 pips) Not offered 0.6 pips 0.2 pips
USD/CHF (Average: 2.3 pips) Not offered 2.3 pips 0.2 pips
USD/CAD (Average: 2.9 pips) Not offered 0.5 pips 0.3 pips
NZD/USD (Average: 3.6 pips) Not offered 2.8 pips 0.3 pips
EUR/GBP (Average: 2.4 pips) Not offered 0.5 pips 0.1 pips

Spreads are dynamic and are for informational purposes only.

As you can see, FP Markets’s minimum spread for trading EUR/USD is pips - which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with FP Markets vs. similar brokers.

See all Spreads

How much does FP Markets charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with FP Markets at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $13.14. Here’s a rough breakdown of the fees and how this compares against XTB & AvaTrade .

FP Markets XTB AvaTrade
Spread from: $ 7.00 $ 2.00 $ 7.00
Commission: $0.00 $0.00 $0.00
Total cost of a 100k trade: $ 7.00 $ 2.00 $ 7.00
$5 less $0 less
Visit FP Markets Visit XTB Visit AvaTrade

All fees/prices are for informational purposes and are subject to change.

General Fees

  • FP Markets doesn’t charge inactivity fees*
  • FP Markets doesn’t charge withdrawal fees*

Commissions

  • FP Markets does charge commission on CFD shares

What can you trade with FP Markets?

FP Markets offers over 10,101 different instruments to trade, including over 60 currency pairs. We’ve summarised all of the different types of instruments offered by FP Markets below, along with the instruments offered by XTB and AvaTrade for comparison.

FX / Currencies FP Markets XTB AvaTrade
# of forex pairs offered 60 48 59
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies No Yes Yes
Commodity CFDs FP Markets XTB AvaTrade
# of commodities offered 18 21 16
Metals Yes Yes Yes
Energies No Yes Yes
Agricultural No Yes Yes
Index & Stock CFDs FP Markets XTB AvaTrade
# of Stocks offered 10000 1606 99
UK Shares No Yes Yes
US Shares No Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
See FP Markets's InstrumentsSee XTB's InstrumentsSee AvaTrade's Instruments

What’s the FP Markets trading experience like?

1) Platforms and apps

FP Markets offers the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. FP Markets also offer their custom IRESS platform. The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.

FP Markets Screenshot

FP Markets also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

See FP Markets 's platforms

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Accounts offered:

  • Demo account
  • Mini account
  • Standard account
  • ECN account
  • Managed account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

FP Markets allows you to execute a minimum trade of 0.01 Lot. This may vary depending on the account you open. FP Markets allows you to execute a maximum trade of 50 Lot. As FP Markets offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you’re paying to execute your trades.

As a market maker, FP Markets may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

Finally, we’ve listed some of the popular funding methods that FP Markets offers its traders on the right.

Funding methods:

  • Credit cards
  • Bank Transfer
  • Payoneer
  • Neteller

3) Client support

FP Markets support a limited number including English and Chinese.

FP Markets has a BrokerNotes double AA support rating because FP Markets offer live chat, phone, email support and less than three languages.

4) What you’ll need to open an account with FP Markets

As FP Markets is regulated by ASIC , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore FP Markets’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with FP Markets you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.fpmarkets.com.au/ on 01/10/2019.