FP Markets review : Is It a Reliable Forex Broker?
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This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company.
This means that you do not necessarily need to build your own trading strategy or conduct research on forex markets. Copy trading can help to remove some of the complexities of trading forex and CFDs. FP Markets offer copy trading through https://forex-review.net/ the powerful MetaTrader 4 and MetaTrader 5 platforms. FP Markets have their very own proprietary trading app where you can trade Forex and CFDs across shares, indices, commodities, futures and cryptocurrencies, from the palm of your hand.
Compare the markets and instruments offered by FP Markets and its competitors. Please note, some markets may only be available via CFDs or other derivatives. As per regulatory requirements, FP Markets is audited by an external independent auditor, BDO Australia. Client funds are also segregated and held with AAA rated banks such as National Australia Bank or Commonwealth Bank of Australia.
These trading ideas are grouped into technical and fundamental analysis. We liked the quality of the trading ideas; the analyses are up to date and a new piece is published almost every day. FP Markets doesn't charge an inactivity fee or account fees, except for the IRESS Trader platform. Here, a monthly fee of AUD 55 is charged, unless you generate at least AUD 200 in monthly commissions or hold a balance of AUD 50,000. To get things rolling, let's go over some lingo related to broker fees.
Is FP Markets an ECN broker?
Charting is possible with FP MarketsFP Markets has a section on its website where you can read updated articles about Technical Analysis and Fundamental Analysis of the markets. The company puts effort into these articles to update its traders. This makes it easier for traders to know what’s going on in the market value. Both technical and fundamental analysis is very important in trading. Fundamental analysis helps you understand the market’s movement .
- FP Markets Mobile App has a user-friendly interface that features trade levels with volumes on a chart and real-time quotes 24/5.
- This selection is based on objective factors such as products offered, client profile, fee structure, etc.
- Mobile trading enables traders to trade anywhere they are, and anytime they want when connected to the internet.
- Traders can replenish their virtual funds by contacting customer support.
- As per regulatory requirements, FP Markets is audited by an external independent auditor, BDO Australia.
Although FP Markets’ headquarters are in Australia, its customer service team is available 24/7 to support its customers. You may reach out to them through various channels, including Live Chat, Phone, and Email. I have always had a great experience when dealing with their support team. This firm regulation means they must adhere to a set of tight laws and regulations, giving clients peace of mind. It creates a sense in its clients that they are dealing with a respectable and trustworthy trading broker who will act with the utmost honesty and transparency.
FP Markets Account Types
On the other hand, IC Markets offers Forex , commodities , indices , crypto assets , and stocks (1600+). However, IC Markets offers CFD trading only, while FP Markets offers CFD and DMA trading for shares. Therefore, FP Markets is the better option for traders who want to engage in long-term investing. The broker offers a wide range of asset classes to trade, including forex, shares, indices, commodities and cryptocurrencies.
FP Markets offers a wide range of deposit and withdrawal options, but some withdrawal methods come with a fee. These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. In the sections below, you will find the most relevant fees of FP Markets for each asset class.
You would only choose this account if you want to trade stocks however selected other CFD products are available. I highly recommend FP Markets; huge range of trade-able products, competitive brokerage, low margins and great customer service. I also can't speak highly enough of the IRESS platform they use, simply the industry leader. The new account/onboarding process and online portal provided/s a few glitches, e.g. following the steps created 2 accounts. This process, and the supporting website could definitely be improved to bring up to par with other brokers.
Commission Fees
With this account, spreads are offered from 1.0 pip with no commission. For the Raw account, the minimum deposit is also $100 , however, spreads are offered from no minimum but a fee of $3.50 AUD per lot per trade. Some liquidity providers of FP MarketsThis is also protected by leading (top-tier) banks, and this broker ensures the safety of its client’s funds. FP Markets have partnered with top financial institutions, like HSBC, JP Morgan, Barclays, and Goldman Sachs, to ensure multi-asset liquidity. These partners of FP Markets ensure the highest levels of interbank liquidity for its clients. Also, the financial accounts are audited by external audit firms to ensure constant compliance with regulations across the operations of the company.
We alsoreached out to customer supportto solve the issues we faced. According to five leading user-review and broker ranking sites, FP Markets ranks exceptionally well. Traders should always exercise caution when reading user reviews, especially for overly positive or negative remarks. Our in-house research confirms an excellent FP Markets User Experience.
FP Markets believe that focusing on the key ingredients in getting successful trades gives its clients the confidence to choose them as a broker. As FP Markets is an Australian licensed forex broker, its clients’ interests’ are the top priority. MT4/MT5 and cTrader are available as desktop clients, a webtrader, and a mobile app. The out-of-the-box MT4/MT5 versions remain substandard, but FP Markets offers twelve plug-ins with its Trading Tools package, plus the Autochartist plug-in and Trading Central services.
Spreads for a standard account start from 1.0, and for a raw account, the spreads start from as low as 0.0 pips. Additional fees may be charged when using certain payment methods but this is expected from nearly all brokers. You can open an account in a good selection of currencies including USD, GBP, EUR, CHF, JPY, NZD, CAD, SGD, HKD & AUD. The various different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. This Traders Hub is designed to further enhance the brokers offering and continues with their commitment to provide traders with unparalleled trading conditions. I have been a huge fan of Autochartist since I first used it many years ago.
FP Markets Company Details
It offers pretty much everything you could ever need, including a wide range of features like technical indicators and live price streaming, and a seamless interface. FP Markets really should be commended for its ECN-style pricing, which is among the best in the market. For the second IRESS account, the Platinum IRESS Account minimum deposit is $25,000 AUD or equivalent.
FP Markets offers an excellent trading environment with raw spreads and a choice of ECN or DMA accounts. The MetaTrader and Iress platforms are suited to both beginners and experts, while there’s a substantial choice of forex, equity CFDs, futures, and cryptocurrencies. The quality of customer service, fast sign-up process, and user-friendly client portal are particularly favourable, making FP Markets a good choice for all levels. While conducting our evaluations of online forex brokers, we’ve collected over 360 data points that track the research-specific features that are most important to traders and investors.
This is all topped off with educational resources and market analysis to keep you up to speed and some of the best customer support I have received from any broker over the years. MT4 is available on desktop (Windows / Mac), web and as mobile trading apps (iPhone / iPad / Android / Tablet). I can easily open charts, load indicators, analyse instruments and place trades. I like the convenience of being able to follow the progress of my trades via the mobile app at any time I feel like it. There is a very high degree of risk involved in trading securities. 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.
Now I am passionate about reviewing and comparing forex brokers. FP Markets offers some good quality educational resourcesto rookie traders. The broker does not charge any fees for withdrawal into credit/debit cards, PayPal, or Australian domestic bank wire transfers.
The texts on this page are not are not investment recommendations. FP Markets gives its traders the power to select a trading platform with a pricing model that suits the trader’s trading style and skill.The company offers a product range across all account types. 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.
To find a suitable alternative you can go to compare brokers page. Kindly note that according to our withdrawal policy, If you used only one depositing method, for example, a credit/debit card, you will withdraw the initial deposit back to the same account. Please read fp markets reviews below and share live trading experiences with this broker. FP Markets analytics consists of daily and weekly technical analysis reports and a fundamental analysis folder covering current world economics events. The have a YouTube channel that has an extensive archive of trading education videos.
You can also get a free VPS through some other brokers including IC Markets. FP Markets have a unique portfolio with a large number of assets for you to choose from and create a diversified portfolio according to your own preferences. However, the broker does not offer some asset classes like options, funds, bonds and ETFs. If you are looking for those, then you might want to consider AvaTrade as an alternative. FP Markets have a trader toolbox that can help you to get the most out of the trading platforms whilst enhancing your overall trading experience and taking it to the next level. To receive access to the trader toolbox you need to make a deposit of at least $1,000 and will be sent the software via email.
