Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

FP Markets
8.2 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT FP MARKETS
Vantage FX
9.2 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT VANTAGE FX
AvaTrade
9.7 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT AVATRADE
About

FP Markets is regulated by ASIC. FP Markets have provided Forex, CFD trading services since 2005.

Vantage FX is regulated by ASIC. Vantage FX have provided Forex, CFD, Binary Options trading services since 2009.

AvaTrade is regulated by the Central Bank of Ireland, ASIC (Australia), FSA (Japan), FSB (South Africa) and BVI. AvaTrade have provided Forex trading services since 2006.

Why choose them?
  • Yes Over 13 years in business
  • Yes Segregates clients funds
  • Yes Regulated by ASIC
  • Yes Over 9 years in business
  • Yes Segregates clients funds
  • Yes Regulated by ASIC
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Central Bank of Ireland, ASIC, FSA, FSB and BVI
Headquarters Sydney, Australia Level 29, 31 Market Street, Sydney NSW, 2000 Australia Dublin, Ireland

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) No No Yes
CFD No No Yes
Spread Betting No No Yes
Social Trading No Yes Yes
MARKETS & INSTRUMENTS
Forex (currency pairs) 60 59
Commodities Offered 18 16
Stocks Offered 10000 99
Bitcoin No No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks No No Yes
Penny stocks No No No
Energies No Yes Yes
Metals Yes Yes Yes
Agriculturals No No Yes
FTSE Yes Yes Yes
Dow Jones Yes No Yes
Dax Yes Yes Yes
Nikkei Yes Yes Yes
ETFs No No Yes
IPO No No Yes
See all instruments

Losses can exceed deposits

See all instruments

Losses can exceed deposits

See all instruments

71% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 No Yes Yes
MT4 Mac Yes Yes Yes
WebTrader Yes Yes Yes
Mirror Trader No Yes Yes
ZuluTrade No Yes Yes
Sirix No No No
cTrader No No No
PAMM Yes Yes No
Custom Platforms IRESS MyFXBook AutoTrade AvaTradeAct, AVAOptions

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image No Yes No
Available Languages

English and Chinese

English and Mandarin

English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch

See platform & features

Losses can exceed deposits

See platform & features

Losses can exceed deposits

See platform & features

71% of retail investor accounts lose money when trading CFDs with this provider.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by FP Markets and Vantage FX

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account No No Yes
Standard account Yes Yes Yes
ECN Account Yes Yes No
Islamic account No No Yes
Zero spread account No No No
VIP account No No Yes
Fixed spreads No No Yes
Variable spreads Yes Yes Yes
See account options

Losses can exceed deposits

See account options

Losses can exceed deposits

See account options

71% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes Yes No
Direct market access Yes Yes Yes
STP broker Yes Yes No
Market maker Yes Yes Yes
Min trade 0.01 Lot 0.01 Lot 0.01 Lot
Max trade 50 Lot 20,000 lot None
Min deposit $200 $100 $100

RISK MANAGEMENT

Stop losses Yes No Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes No Yes
Price alerts Yes Yes Yes
Signal trading Yes Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller Yes Yes Yes
Skrill No No Yes
Payment processing time 1 business day 1 business day Varies
Withdrawal processing time 1 business day 1 business day Varies
See all funding options

Losses can exceed deposits

See all funding options

Losses can exceed deposits

See all funding options

71% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US, JP, NG, PK US, JP, NG, PK BE,BR,NZ,US,KE,IN,GH
Contact email Send Email Send Email Send Email
Phone number 61 (0)2 8252 6800 +61 2 8999 2046 (44) (0) 8005200423
Live Chat Yes Yes Yes
Website http://www.fpmarkets.com.au/ https://www.vantagefx.com/ http://www.avatrade.com/
Spreads:
EUR/USD (Average: 0.7 pips) Not offered Not offered 0.9 pips
GBP/USD (Average: 1.1 pips) Not offered Not offered 1.6 pips
USD/JPY (Average: 1.1 pips) Not offered Not offered 1.1 pips
AUD/USD (Average: 0.8 pips) Not offered Not offered 1.1 pips
USD/CHF (Average: 2.3 pips) Not offered Not offered 1.6 pips
USD/CAD (Average: 2.9 pips) Not offered Not offered 2.0 pips
NZD/USD (Average: 3.6 pips) Not offered Not offered 1.8 pips
EUR/GBP (Average: 2.4 pips) Not offered Not offered 1.5 pips
View all spreads

Losses can exceed deposits

View all spreads

Losses can exceed deposits

View all spreads

71% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee No No No
Commission Yes $3 per lot one way No
Deposit Fee Yes Varies No
Withdrawal Fee No $0- $25 No
View All Fees

Losses can exceed deposits

View All Fees

Losses can exceed deposits

View All Fees

71% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from http://www.fpmarkets.com.au/. Last updated on 01/12/2019.

All information collected from https://www.vantagefx.com/. Last updated on 01/12/2019.

All information collected from http://www.avatrade.com/. Last updated on 01/12/2019.

Company

FP Markets is an online forex trading service provider who are regulated by the ASIC. To open an account with FP Markets, minimum deposits start from $200.

With FP Markets you can trade CFDs, forex, futures, and shares. If you like to trade on the go, FP Markets have iPhone and Android apps so you can trade from anywhere on your phone.

FP Markets offer The IRESS Suite, Share Trading, FP Live, MetaTrader 4 platforms to make your trades and support 3 different languages.

They also offer traders free educational material to better understand the markets and trading strategies.

The spreads offered by FP Markets for the most popular instruments are:
0.2 EUR/USD, 1.5 FTSE 100, 14 GOLD,
0.6 GBP/USD, n/a DOW/JONES, 5 Crude Oil,
see all the spreads here.

Vantage FX is an online forex and binary options trading service provider who are regulated by the ASIC. To open an account with Vantage FX, minimum deposits start from $100.

With Vantage FX you can trade Currencies, commodities, and indices. If you like to trade on the go, Vantage FX have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

Vantage FX offer MetaTrader 4, MetaTrader 4 for Mac, Binary Options, MT4 WebTrader, MetaTrader 4 Mobile Apps, MAM/PAMM, MyFXBook AutoTrade, ZuluTrade platforms to make your trades and support 3 different languages.

The spreads offered by Vantage FX for the most popular instruments are:
0.1 EUR/USD, 2 FTSE 100, 40 GOLD,
0.6 GBP/USD, 3 DOW/JONES, 7 Crude Oil,
see all the spreads here.

Since 2006, Avatrade have attracted over 20,000 traders to their platform. While their spreads are not the most competitive, they do offer traders a range of great features, such as guaranteed stop losses, the ability to hedge / scalp, and low margins.

For more information about trading with AvaTrade, we have put together an indepth AvaTrade review with the pros and cons about this broker.

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FP Markets or Vantage FX?

A wide range of instruments or ?

If you’re a trader looking for a broker that offers a wide variety of instruments to trade, FP Markets is likely the better option out of these brokers. However, if

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider FP Markets and Vantage FX to be equally reliable. We’ve broken down why below:

Who are they regulated by?

FP Markets and Vantage FX are both regulated by ASIC

AvaTrade are regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

FP Markets has been around for 14 years, while Vantage FX have been around for 10 years. Our third alternative broker, AvaTrade, have been around for 13 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

FP Markets does not use tier one banks as their banking partner. Vantage FX uses tier one banks as their banking partner.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on FP Markets or Vantage FX in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

FP Markets is more popular with over 10,000 traders.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both FP Markets and Vantage FX are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

FP Markets are based in Sydney, Australia, while Vantage FX are based in Level 29, 31 Market Street, Sydney NSW, 2000 Australia .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both FP Markets and Vantage FX offer forex trading. FP Markets have a slightly larger variety of currency pairs with 60 pairs, compared to offered by Vantage FX. Also, if you’re looking to trade cryptocurrencies,

If you’re looking to trade commodities like gold, silver or oil, FP Markets may be a better fit as Vantage FX does not offer commodity trading.

Vantage FX also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both FP Markets and Vantage FX offer this. Vantage FX also offer the new & improved MT5 platform. Our alternative broker, AvaTrade, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. AvaTrade, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

FP Markets does allow scalping and hedging. While Vantage FX also allows scalping and hedging. You can trade with EAs (expert advisors) on both FP Markets and Vantage FX.

In terms of risk management tools, neither FP Markets or Vantage FX offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

FP Markets also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

FP Markets accept Neteller while Vantage FX accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, FP Markets charges 0.70 points, while Vantage FX charges points. Therefore, Vantage FX is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: FP Markets or Vantage FX?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, Vantage FX is more reliable based on our criteria above. FP Markets has a wider range of instruments to trade. FP Markets offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.