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FP Markets Review 2024

Written by BrokerNotes.co
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by Jeff Anberg

May 22, 2024

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Our extensive testing and review of FP Markets reveal it as a top choice for forex and CFD traders seeking a robust trading environment with competitive fees. Our experience and the data show that FP Markets stands out in the industry, especially for those looking to trade a wide variety of instruments.

Overall Rating

8.3 / 10

Minimum Deposit

$100 AUD

Trust Score info

Trusted

Pros and Cons

thumb_up_off_alt Pros

Broad Instrument Offering: FP Markets provides access to over 10,000 tradable symbols, significantly above the industry average, catering to traders looking for vast market access.
Wide Range of Platforms: Traders have the flexibility to choose from popular platforms like MetaTrader 4 and MT5, cTrader, or FP Markets’ own proprietary platform.
Competitive Spreads: Offers a low average spread of 0.8 (after including commission) on the EUR/USD for its commission-based account, which is better than the industry average, making it a very cost-effective option for forex trading.

thumb_down_off_alt Cons

Average Mobile Apps: The mobile trading apps are rated as average, indicating room for improvement compared to leading competitors.
No Active Trader Discounts for High Volume: Although it offers VIP discounts, high-volume traders might not find specific active trader discounts.

Ratings Summary

Investment Types - 9.0/10
Commissions & Fees - 9.5/10
Trading platforms - 8.0/10
Research - 7.5/10
Mobile Apps - 8.0/10
Education - 7.5/10
Overall - 8.3/10

Can I trust FP Markets?

FP Markets is a reliable broker, regulated by both ASIC in Australia and MiFID in Europe. According to industry research from ForexBrokers.com, with a Trust Score of 87, FP Markets is considered "Trusted".

FP Markets is currently licensed and/or authorised by the following regulatory bodies:

Tier-1 Regulators - Australian Securities & Investment Commission (ASIC) and regulated in the European Union via the MiFID passporting system
Tier-2 Regulators - Financial Sector Conduct Authority (FSCA)
Tier-3 Regulators - None
Tier-4 Regulators - Financial Services Authority (FSA) and Mauritius' Financial Services Commission (FSC)

Is FP Markets good for beginners?

FP Markets has been building out its educational offering, now providing webinars, beginner and advanced videos, and podcasts, but there remains much room for improvement to compete with best-in-class brokers.

Feature	FP Markets
Education (Forex or CFDs) info	Yes
Client Webinars info	Yes
Videos - Beginner Trading Videos info	Yes
Videos - Advanced Trading Videos info	Yes
Investor Dictionary (Glossary) info	Yes

FP Markets commissions and fees summary

In our analysis, FP Markets stands out as an extremely attractive choice for cost-conscious investors. It offers competitive spreads on its commission-based account, Raw ECN, averaging 0.1 pips for the EUR/USD, well below the industry average of 1.08. There is a flat rate fee of $6 per round-turn on a standard lot of forex with this option, however. The Standard account has a pricier average spread of 1.1 for the EUR/USD pair.

Feature	FP Markets
Minimum Deposit info	$100 AUD
Average Spread EUR/USD - Mini info	1.1 info
Average Spread EUR/USD - Standard info	1.1 info
All-in Cost EUR/USD - Active info	0.8 info
Active Trader or VIP Discounts info	Yes

FP Markets trading platforms and tools

tips_and_updates Did you know? Trading platforms comparison

Of the 60+ brokers reviewed on BrokerNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer ZuluTrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5.

FP Markets provides a diverse range of trading platforms and tools, suitable for various trader preferences. While the overall platform and tools are rated as average, the choices available, including both MetaTrader options, cTrader, and a proprietary platform, align well with traders' needs.

Trading platforms offered: FP Markets offers MetaTrader 4, MetaTrader 5, cTrader, and its proprietary platform.

Trading tools: The broker provides comprehensive trading tools, enhancing trading efficiency and effectiveness.

Copy trading: Copy trading is supported, allowing traders to replicate the positions of experienced traders.

Feature	FP Markets
Virtual Trading (Demo) info	Yes
Proprietary Platform info	Yes
Desktop Platform (Windows) info	Yes
Web Platform info	Yes
MetaTrader 4 (MT4) info	Yes
MetaTrader 5 (MT5) info	Yes
DupliTrade info	No

FP Markets trading platform screenshots

FP Markets MT5 desktop trading platform charting

Mobile trading apps at FP Markets

While our evaluation points to an average performance of the FP Markets mobile trading apps, they still provide a solid, functional mobile trading experience that can meet most traders’ needs effectively.

Feature	FP Markets
Android App info	Yes
Apple iOS App info	Yes
Mobile Economic Calendar info	Yes
Mobile Alerts - Basic Fields info	Yes
Mobile Charting - Draw Trendlines info	Yes
Mobile Watchlist info	Yes

FP Markets mobile app screenshots

FP Markets MT5 mobile trading app watchlist

FP Markets MT5 mobile trading app charts

FP Markets MT5 mobile trading app calendar

FP Markets MT5 mobile trading app contract specifications

How do I open an account with FP Markets?

Visit the FP Markets website.
Click on the 'Open an Account' button.
Complete the registration form with your details.
Submit the required documentation for identity and residence verification.
Fund your account using one of the accepted funding methods.
Start trading once your account is activated.

What can I trade at FP Markets?

At FP Markets, you can trade an impressive range of instruments. With 71 forex pairs and a total of 10,000 tradable symbols, far surpassing the industry average of 3,623, the broker offers extensive trading opportunities.

Feature	FP Markets
Tradeable Symbols (Total) info	10000
Forex Pairs (Total) info	71
Social Trading / Copy Trading info	Yes
Cryptocurrency (Physical) info	No
Cryptocurrency (Derivative) info	Yes
Spread Betting info	No

FP Markets research screenshots

FP Markets research daily market anaylsis

Account funding at FP Markets

FP Markets supports a variety of funding methods, including bank wires, Neteller, PayPal, credit cards, and Skrill, providing flexible options for account deposits and withdrawals.

Feature	FP Markets
Visa/Mastercard (Credit/Debit) info	Yes
Bank Wire (Deposit/Withdraw) info	Yes
PayPal (Deposit/Withdraw) info	Yes
Skrill (Deposit/Withdraw) info	Yes
Neteller (Deposit/Withdraw) info	Yes

About FP Markets

FP Markets, founded in 2005, is a prominent forex and CFD broker known for its commitment to providing high-quality trading services. The broker has gained a trustworthy reputation through strong regulatory compliance and a focus on technological innovation, offering both popular and proprietary trading platforms to cater to a diverse client base. With a solid foundation in low-cost trading and continuous improvements in services and platforms, FP Markets continues to be a preferred choice for traders globally.

Compare FP Markets

See how FP Markets stacks up against other brokers.

FP Markets vs TopFX FP Markets vs City Index FP Markets vs DooPrime FP Markets vs ATFX FP Markets vs LegacyFX FP Markets vs GBE brokers FP Markets vs Xtrade FP Markets vs Swissquote FP Markets vs Vantage FP Markets vs Trade360 FP Markets vs ThinkMarkets FP Markets vs Octa FP Markets vs HYCM (Henyep Capital Markets) FP Markets vs Eightcap FP Markets vs Spreadex FP Markets vs TMGM FP Markets vs Moneta Markets FP Markets vs Trade Nation

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Methodology

At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.

Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.

Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).

AI disclaimer

We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. Learn more about our AI Policy and How We Test.

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.

About the Editorial Team

BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.

Steven Hatzakis is the Global Director of Online Broker Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.

Jeff Anberg is a Staff Editor at BrokerNotes.co and ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.