• Minimum Deposit

    • 0-50
  • Leverage

    • 30:1
    • 500:1
  • Regulation

    • ASIC
    • CySec

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Full Breakdown

Full Breakdown
Minimum Deposit
Leverage
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Overview

Quick Look

FP Markets is an Australia-based CFD and forex broker that launched in 2005. It is regulated by the Australian Securities and Investments Commission (ASIC) as well as the Cyprus Securities and Exchange Commission (CySEC). In general the broker is considered both safe and fair, given its regulatory status, its long track record, and the general support from its clients. Let’s take a closer look at the broker and see if it’s worth your time.

FP Markets is celebrating its 15th anniversary as a broker this year after being founded in 2005. With regulation from ASIC in Australia, and CySEC in Cyprus the broker is considered safe and solid, offering client fund segregation and excellent liquidity. FP Markets is just one in a group of brands owned by First Prudential Markets Ltd.

FP Markets is also a Financial and Service Provider (FSP) authorised and regulated by the Financial Sector Conduct Authority in South Africa by the name FP Markets (Pty) Ltd and FSP number 50926.

The broker is exceptional in its offering of over 13,000 assets, including forex, cryptocurrencies, indices, commodities, and individual shares. Clients have a choice of two account types strictly for forex that offer ECN pricing and 1:500 leverage. Clients can also choose IRESS accounts which are commission-based and good for trading all the assets on offer by FP Markets.

You know we are a Metatrader fan, and this broker offers both Metatrader 4 and Metatrader 5 for desktop, mobile, and web. Traders can even use the Autochartist and Trader Toolbox plugins for Metatrader to add to the already impressive feature set. The IRESS platform is also an excellent choice, and it too comes in desktop, mobile, and web-based varieties.

FP Markets Quick Look

FP Markets also has one of the better education platforms we have seen, called The Traders Hub. It is regularly updated and delves into fundamental analysis, technical analysis, and general trading knowledge. The Traders Hub is suitable for traders of all experience levels. And of course, there is customer support, and it’s pretty good.

Regulations

When it comes to regulations it does not get much better than FP Markets. Not only is the broker regulated by the Australian Securities and Investments Commission (ASIC),It is also regulated by the Cyprus Securities and Exchange Commission (CySEC). These are two of the top regulators in the world, well recognized for the protections they offer.

Moreover, FP markets is a provider of financial services that is authorized and regulated by the Financial Sector Conduct Authority in South Africa. Their regulated name is FP Markets (Pty) Ltd and their FSP number is 50926.

In addition to the regulatory oversight, the broker also segregates client funds from operating capital. It offers excellent liquidity from first-tier banks and financial institutions, and its financial accounts are audited by third-party audit firms.

Account Types

For forex traders there are two account types, the Standard account, and the Raw account. Both have an AUD$100 minimum deposit, and both offer VPS and Islamic accounts with no swaps. The primary difference between the two accounts is that the Standard account has no commissions and spreads starting at 1.0 pips, while the Raw account has no spreads, but a commission of AUD$3.50 per lot per trade is charged.

CFD traders get to choose between three different account types. There is a Standard account with a minimum deposit of $1,000, a Platinum account with a minimum deposit of $25,000, and a Premium account with a minimum deposit of $50,000. All the accounts have a 0.01 lot minimum trade size, and allow scalping, hedging, and automated trading. What else is different with these account types? It is primarily the broker fee and overnight financing interest rate.

On the Standard account there is a minimum broker fee of $10 or 0.1% of trade size, whichever is greater. In addition any overnight financing is at the rate of RBA + 4%.

For the Platinum account the broker fee is $9 or 0.09% of trade value, whichever is greater. Overnight financing is at the rate of RBA + 3.5%.

And the Premier account has no minimum flat broker fee, but charges 0.08% of trade size instead. Overnight financing is at RBA + 3%.

All three accounts pay a $22/mo. fee for ASX data, which is waived once monthly commissions reach $50. In addition to that there is also a $55 GST fee which is waived completely for Premier accounts and is waived for other accounts once monthly commissions reach $150.

We should also mention that all these accounts are available as Islamic accounts. Plus, there is a demo account feature that lets users test out the platform before depositing.

Available Assets

One of the strengths of FP Markets is the number of assets available to trade. There are over 13,000, most of which are individual shares of major corporations.

Also available are forex and cryptocurrencies, as well as indices and commodities. We will say that with the commodities there are only gold, silver and crude oil available. That is perfectly fine for most traders, but for those looking for the agricultural commodities or other metals, they may need to look elsewhere.

FP Markets tradable assets
What can you trade at FP Markets?

Trading Platforms


FP Markets has both Metatrader 4 and Metatrader 5 to choose from, which was very nice to see. While old time traders will prefer Metatrader 4 out of habit, there are some that have taken to the newer Metatradr 5 version. Both are great for technical analysis of price movements, and both are at the top of the industry when it comes to creating automated trading strategies.

In addition to that trading with the Metatrader family of platforms is just more powerful. One-click trading, and a host of order types makes placing orders detailed and granular. You also get dozens of indicators for use in your analysis, and drawing tools to make your analysis a work of art. And FP Markets has gone the extra mile in adding the AutoChartist plugin for Metatrader to their version. AutoChartist gives traders a visual indication of the market, making it a great tool for planning and risk management.

If you’re venturing away from the world of forex at FP Markets you’ll also venture away from Metatrader and to another well-known trading platform called IRESS. The switch is simply because IRESS is superior for trading equities, indices, and futures CFDs. It is just as powerful as Metatrader when it comes to indicators and analysis, order types and management.

It is good to see this broker offering up the right platform for the right type of trading.

FP Markets trading platform
Trading platform

Banking

Banking is made easier at FP Markets through the wide variety of funding methods that are accepted. In addition to accepting bank transfers, credit and debit cards, and a number of eWallets, the broker also makes its trading accounts available in 10 different currencies, appealing to a wider global audience who may not want an account denominated simply in USD or EUR.

One thing to note is the broker advertises zero deposit fees, but that isn’t technically true. They will reimburse international bank wire fees up to $50 (for deposits over $10,000), but there are also a number of deposit fees for those using the IRESS platform Most of these are 2-4% charges when depositing via some eWallet, however there is also a charge for using credit cards to fund the IRESS account. The charge is 1.8% in the case of an Australian card, and 3.18% for international cards.

There are also withdrawal fees, but in general they are smaller than the deposit fees. And in the case of withdrawing to a credit card or Australian bank there are zero fees. International bank transfers have an AUD$10 fee and most of the eWallets come with fees of 0.5% to 2%.

Customer Service

As you might expect from a broker with 15 years’ experience and a global footprint, the customer service staff at FP Markets is multi-lingual and highly experienced in understanding the needs of traders. Support is offered via telephone, online chat, and email. There is no web form available, but there are several specialized email accounts that can be used as follows:

FP Markets Customer Service

In Conclusion

FP Markets has survived for 15 years because they offer great service and fair pricing to their clients. Over that period they’ve also received numerous awards from various forex and CFD organizations, further highlighting the strength of the broker. Those looking to trade forex or CFDs on shares will be more than happy with the offerings and service at FP Markets. And with the dual ASIC / CySEC regulation there is little to worry about in terms of broker risks.

In short, we thoroughly enjoyed our experience with FP Markets, and think you will too.

Full Breakdown Filters

Full Breakdown

Full Breakdown
Minimum Deposit
Leverage
Regulation
Platforms
Currency Pairs
Execution Model
Contract Sizes
Spreads
Languages
Additional Filters

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