Welcome to our comprehensive review of FP Markets, a renowned brokerage firm in the world of online trading. In this review, we will delve into the details about FP Markets, providing you with a clear understanding of its operations, regulations, account types, transaction processes, trading conditions, customer service, and additional features.
Whether you’re a seasoned trader or a beginner looking to dip your toes into the financial markets, this review aims to provide you with valuable insights into FP Markets. We’ll explore questions like “What country is FP Markets from?”, “Is FP Markets a trusted broker?”, and “What platforms does FP Markets offer?” among others.
By the end of this review, you should have a clear picture of whether FP Markets aligns with your trading needs and expectations. So, let’s dive in and start our journey into the world of FP Markets.
FP Markets Summary
🗺 FP Markets is regulated in Australia (ASIC), Cyprus (CySEC), St. Vincent and the Grenadines (FSA), South Africa (FSCA), Seychelles (FSA), and Mauritius (FSC).
🛡️ Yes, FP Markets offers negative balance protection.
💰 FP Markets does not charge an inactivity fee.
💰 FP Markets does not charge any withdrawal fees, but clients may be charged by an intermediary bank for international transactions.
💰 The minimum deposit at FP Markets is $100 AUD.
💵 FP Markets accepts deposits in EUR, GBP, USD, AUD, CAD, SGD, HKD, JPY, NZD, CHF.
💵 FP Markets charges a conversion fee for all trades on instruments denominated in a currency different from the currency of your account. The fee is the exchange rate received from liquidity providers plus a mark-up.
💳 Yes, FP Markets accepts deposits via bank card.
👛 Yes, FP Markets accepts deposits via electronic wallets.
🕖 The time to open an account at FP Markets varies, but it’s generally a quick and straightforward process.
🎮 Yes, FP Markets provides a demo account.
🛍️ FP Markets offers Forex, CFD, and Crypto trading. They also offer Direct Market Access (DMA) CFDs across major exchanges.
🖥️ FP Markets offers multiple trading platforms including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and IRESS.
About FP Markets
What Country is FP Markets From?
FP Markets is a globally recognized brokerage firm that was founded in Sydney, Australia. The company was established by Matthew Murphie, who has played a significant role in its growth and success. Under Murphie’s leadership, FP Markets has expanded its operations worldwide, offering a wide range of trading services to clients across the globe. As a result, when you’re trading with FP Markets, you’re dealing with an Australian-born company that has made a significant impact on the global trading stage. Murphie’s vision and dedication have been instrumental in shaping FP Markets into the reputable brokerage firm it is today. His contributions to the industry have also been recognized, as he serves on the board of the Australian CFD & FX Association. So, when you’re asking “What country is FP Markets from?”, the answer is Australia, the home of its founder, Matthew Murphie.
Is FP Markets Regulated?
Yes, FP Markets is a regulated broker, which is a key factor in its credibility and trustworthiness in the trading industry. It operates under the oversight of several top-tier regulatory bodies globally. In Australia, its home country, it is regulated by the Australian Securities and Investments Commission (ASIC), known for its stringent regulatory standards.
In addition to ASIC, FP Markets is also regulated by the Cyprus Securities and Exchange Commission (CySEC), enhancing its credibility in the European region. Furthermore, it is registered in Saint Vincent and the Grenadines, making it a truly global entity.
These regulatory bodies ensure that FP Markets adheres to strict financial standards, including capital adequacy requirements. They also require the broker to follow fair and transparent dealing practices, which helps protect the interests of traders.
In summary, the fact that FP Markets is regulated by multiple reputable regulatory bodies adds to its legitimacy and should provide traders with confidence in its services. So, if you’re considering FP Markets as your broker, you can rest assured that it operates under strict regulatory oversight.
What Type of Broker is FP Markets?
FP Markets is a globally recognized brokerage firm that was founded in Sydney, Australia by Matthew Murphie. As an Electronic Communication Network (ECN) broker, FP Markets provides direct access to other participants in the Forex and CFD markets. This model is known for its speed and transparency, bypassing the middleman and allowing traders to deal directly with the market.
In addition to being an ECN broker, FP Markets also offers Direct Market Access (DMA) for its CFD trading services, particularly on their IRESS platform. Traders can access DMA CFDs across major exchanges, which allows them to place trades directly into the order books of these exchanges, providing greater transparency and control over order execution.
So, whether you’re a novice trader or an experienced one, FP Markets, with its roots in Australia and its versatile ECN and DMA brokerage services, caters to a wide range of trading needs and has made a significant impact on the global trading stage.
Is FP Markets a Trusted Broker?
FP Markets has established itself as a trusted broker in the global trading industry. Founded in 2005 and headquartered in Sydney, Australia, FP Markets has built a reputation for transparency and reliability. As an Electronic Communication Network (ECN) broker for Forex and CFD trading, and a Direct Market Access (DMA) broker for its IRESS platform, FP Markets provides traders with direct access to the market, ensuring speed and transparency.
Regulated by several authorities worldwide, including the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), FP Markets adheres to strict regulatory standards. This adherence to regulations further enhances its credibility and trustworthiness in the eyes of traders globally.
Moreover, FP Markets prioritizes the security of its clients’ funds by placing them in segregated accounts with reputable banks. This ensures that clients’ funds are secure and readily available for withdrawal.
In summary, with its strong regulatory framework, commitment to transparency, and emphasis on client security, FP Markets has proven itself to be a trusted broker in the trading industry. Whether you’re a novice trader or an experienced one, FP Markets offers a secure and reliable trading environment.
Is FP Markets Legit?
FP Markets is indeed a legitimate and reputable broker in the world of online trading. Established in 2005 and headquartered in Sydney, Australia, FP Markets operates as an Electronic Communication Network (ECN) broker for Forex and CFD trading, and a Direct Market Access (DMA) broker for its Iress platform.
Regulated by several top-tier authorities worldwide, including the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), FP Markets adheres to strict regulatory standards, ensuring a secure and transparent trading environment for its clients.
Moreover, FP Markets prioritizes the security of its clients’ funds, holding them in segregated accounts with top-tier banks. This ensures that clients’ funds are secure and readily available for withdrawal.
In addition to its strong regulatory framework and commitment to transparency, FP Markets has received positive reviews from its users for its customer service and trading conditions, further solidifying its status as a legitimate broker.
So, whether you’re a novice trader or an experienced one, FP Markets offers a secure and reliable trading environment, making it a legitimate choice for your trading needs.
What leverage does FP Markets offer?
FP Markets offers a variety of leverage options to cater to the diverse needs of traders. For Forex and precious metal CFDs, traders can access leverage of up to 500:1. This means they can open positions that are significantly larger than their initial deposit.
For other instruments, the leverage varies. For instance, oil and indices can be traded with a leverage of up to 100:1. Bitcoin can be traded with a leverage of up to 50:1, while other cryptocurrencies and individual stocks can be traded with a leverage of up to 20:1.
However, it’s important to remember that while leverage can amplify potential profits, it can also magnify losses. Therefore, it’s crucial for traders to understand how leverage works and to use risk management strategies when trading with leverage.
Please note that the leverage offered can vary depending on the trader’s country of residence due to regulatory requirements.
Account Information
What is the Minimum Deposit at FP Markets?
FP Markets, a globally recognized brokerage firm, offers a flexible entry point for traders. The minimum deposit required to open a trading account with FP Markets is 100 AUD or its equivalent in other currencies. This makes it accessible for traders with varying investment capacities to step into the world of financial markets. However, it’s worth noting that the minimum deposit can vary depending on the specific type of trading account chosen. So, whether you’re an experienced trader or just starting out, FP Markets provides a platform that’s within reach to embark on your trading journey.
What are the Account Types at FP Markets?
FP Markets caters to a diverse range of trading needs by offering several types of accounts. Here’s a brief overview:
- Standard Account: This account type is suitable for both novice and experienced traders. It offers spreads from 1.0 pips and requires a minimum deposit of 100 AUD or equivalent.
- Raw Account: Ideal for experienced traders, the Raw account offers spreads from 0.0 pips and charges a commission per lot. The minimum deposit requirement is also 100 AUD or equivalent.
- Islamic Swap-Free Account: Catering to traders of the Muslim faith who cannot receive or pay interest due to religious beliefs, FP Markets offers an Islamic Swap-Free account.
- IRESS Accounts: These accounts are designed for traders interested in Direct Market Access (DMA) CFDs across major exchanges. They come in three types: Standard, Platinum, and Premier, each with its own unique features and benefits.
Remember, the right account type for you depends on your trading needs and investment goals. It’s always a good idea to review the features of each account type and choose the one that best suits your trading style.
How Do I Open an Account with FP Markets?
Opening an account with FP Markets is a straightforward process designed to get you started on your trading journey as quickly as possible. Here’s a step-by-step guide:
1. Visit the FP Markets official website by clicking here.
2. Fill out the registration form with your personal information such as your name, email, and country of residence.
4. Provide additional details as required, including your date of birth and profession.
5. Choose the type of account you wish to open (Standard, Raw, Islamic Swap-Free, or IRESS), the trading platform (MetaTrader 4, MetaTrader 5, or Iress), and your preferred base currency.
6. Once you’ve completed the form, you’ll receive your account login credentials via email.
7. Download the FP Markets trading platform of your choice (MT4, MT5, or IRESS) and log in using the credentials provided.
And that’s it! You’re now ready to start trading with FP Markets. Remember, the right account type for you depends on your trading needs and investment goals. It’s always a good idea to review the features of each account type and choose the one that best suits your trading style.
Transaction Details
How Do I Deposit to FP Markets?
Depositing funds into your FP Markets account is a straightforward and flexible process. Here’s a step-by-step guide:
1. Visit the FP Markets official website: Navigate to the FP Markets official website on your preferred web browser.
2. Log in to your account: Use your login credentials to access your account. If you don’t have an account yet, you’ll need to create one.
3. Navigate to the deposit section: Once you’re logged in, find the ‘Deposit’ or ‘Funding’ section in the dashboard.
4. Choose your preferred deposit method: FP Markets offers a variety of deposit methods. These include credit card, debit card, bank wire transfer, electronic wallets like Neteller and Skrill, and even cryptocurrencies via B2BinPay. They also accept deposits via Poli Pay, online banking, and broker-to-broker transfers. Select the one that suits you best.
5. Enter the deposit amount: Specify the amount you wish to deposit. Remember, the minimum deposit at FP Markets is 100 AUD or its equivalent in other currencies.
6. Confirm the transaction: Review the details of the transaction. If everything looks correct, confirm the transaction.
7. Wait for the funds to reflect in your account: The processing time varies depending on the deposit method. While some methods are instant, others may take a few business days.
And that’s it! You’ve successfully deposited funds into your FP Markets account. Now, you’re ready to start trading.
How Do I Withdraw from FP Markets?
Withdrawing funds from your FP Markets account is a user-friendly process. Here’s a step-by-step guide:
1. Log in to the FP Markets Client Portal: Start by logging into the Secure Client Portal on the FP Markets website.
2. Navigate to the ‘Funding’ section: Once logged in, find the ‘Funding’ section in your account dashboard.
3. Select ‘Withdraw’: Within the ‘Funding’ section, you’ll find the ‘Withdraw’ option. Click on it to initiate the withdrawal process.
4. Choose your withdrawal method: FP Markets offers a wide range of withdrawal methods. These include credit card, debit card, bank wire transfer, electronic wallets like Neteller and Skrill, and even cryptocurrencies via B2BinPay. Select the method that’s most convenient for you.
5. Enter the withdrawal amount: Specify the amount you wish to withdraw. There’s no minimum withdrawal amount at FP Markets, so you have the freedom to withdraw any amount you desire.
6. Submit your withdrawal request: After entering the withdrawal amount and selecting your preferred withdrawal method, submit your request. FP Markets aims to process withdrawal requests within 24 hours.
Remember, while FP Markets doesn’t charge any internal fees for withdrawals, you may incur fees from your bank or payment provider. Always check with your payment provider about any potential fees before making a withdrawal.
And that’s it! You’ve successfully initiated a withdrawal from your FP Markets account. Now, all you need to do is wait for the funds to arrive in your account.
How Much Does FP Markets Charge for Withdrawal?
Withdrawing funds from your FP Markets account is a user-friendly process. Here’s a step-by-step guide:
1. Log in to the FP Markets Client Portal: Start by logging into the Secure Client Portal on the FP Markets website.
2. Navigate to the ‘Funding’ section: Once logged in, find the ‘Funding’ section in your account dashboard.
3. Select ‘Withdraw’: Within the ‘Funding’ section, you’ll find the ‘Withdraw’ option. Click on it to initiate the withdrawal process.
4. Choose your withdrawal method: FP Markets offers a wide range of withdrawal methods. These include credit card, debit card, bank wire transfer, electronic wallets like Neteller and Skrill, and even cryptocurrencies via B2BinPay. Select the method that’s most convenient for you.
5. Enter the withdrawal amount: Specify the amount you wish to withdraw. There’s no minimum withdrawal amount at FP Markets, so you have the freedom to withdraw any amount you desire.
6. Submit your withdrawal request: After entering the withdrawal amount and selecting your preferred withdrawal method, submit your request. FP Markets aims to process withdrawal requests within 24 hours.
Remember, while FP Markets doesn’t charge any internal fees for withdrawals, you may incur fees from your bank or payment provider. Always check with your payment provider about any potential fees before making a withdrawal.
And that’s it! You’ve successfully initiated a withdrawal from your FP Markets account. Now, all you need to do is wait for the funds to arrive in your account.
Trading Information
Does FP Markets Allow Hedging?
Yes, FP Markets does allow hedging. As a globally recognized brokerage firm, FP Markets understands that different traders have different strategies. Hedging is a risk management strategy employed by many traders, and FP Markets accommodates this.
Traders can open positions in the same instrument in opposite directions without the positions offsetting and without using additional margin. Hedging is available on all three of FP Markets’ platforms – MetaTrader 4 (MT4), MetaTrader 5 (MT5), and IRESS.
So, whether you’re looking to protect your portfolio from risk, or seeking to balance potential losses, FP Markets provides the flexibility to implement your hedging strategies.
Does FP Markets Allow Scalping?
While the maximum leverage for Forex is typically 30:1 in regions like Australia, the UK, and Europe, FP Markets does offer a higher leverage of up to 500:1. This can be particularly beneficial for traders who are well-versed in managing risk and are looking to maximize their trading potential. However, it’s crucial to remember that while higher leverage can lead to increased profits, it can also amplify losses. Therefore, it’s essential to have a solid understanding of leverage and its risks before utilizing it in your trading strategy.
Does FP Markets Charge Commission?
Yes, FP Markets does charge commission, but the structure varies depending on the type of account you choose.
If you opt for a Standard account, you won’t be charged any commission as the fees are built into the spread. This means that the cost of trading is included in the buy/sell price of the currency pair you’re trading.
On the other hand, if you choose the Raw account, a commission fee is applicable. The commission for Forex and Metals in a Raw account is 3.50 (AUD, CAD, SGD), 3 USD, 2.75 EUR, 2.25 GBP, 22.5 HKD, 300 JPY, 4.4 NZD, 3 CHF, 12.2 PLN per side. For Equity CFDs, the commission per side varies from 0.05% to 0.30% depending on the market, with a minimum charge per side ranging from 2 USD to 100 HKD.
It’s important to note that while the Raw account charges a commission, it also offers tighter spreads, which can be beneficial for certain trading strategies. Therefore, the choice between a Standard and Raw account should be based on your individual trading style and strategy.
Remember, trading involves risk and it’s important to understand the fee structure before you start trading.
What is the Spreads on FP Markets?
FP Markets offers competitive spreads in the industry, which vary depending on the type of account and the asset being traded.
For a Standard account, spreads start from 1 pip. This means that the cost of trading is included in the buy/sell price of the currency pair you’re trading.
If you opt for a Raw ECN account, you can benefit from even lower spreads starting from 0.0 pips. This can be particularly beneficial for certain trading strategies, including high-frequency and algorithmic trading.
The average spreads for the five major currency pairs are reported to be around 1.30 pips, which is competitive against the industry average.
It’s important to note that spreads can be influenced by various factors, including market liquidity and volatility. For instance, popular currency pairs such as EUR/USD, GBP/USD, AUD/USD, and USD/JPY tend to have lower spreads due to higher levels of liquidity.
FP Markets offers some of the lowest spreads in the industry, making it a suitable choice for traders looking for cost-effective trading solutions. However, as with any trading costs, it’s important to understand how spreads can impact your trading strategy and overall trading costs.
What Platforms Does FP Markets Offer?
FP Markets caters to a wide range of traders by offering several trading platforms. These platforms are designed to meet the diverse needs of traders, whether they are beginners or experienced professionals.
One of the primary platforms offered by FP Markets is MetaTrader. This platform is available in two versions: MetaTrader 4 and MetaTrader 5. Both versions are renowned for their advanced charting tools, automated trading capabilities, and user-friendly interface. They are ideal for both novice and experienced traders.
In addition to MetaTrader, FP Markets also offers the Iress platform. This platform is known for its advanced features and tools, making it suitable for professional traders. It provides access to a wide range of markets and financial instruments.
Moreover, FP Markets offers a WebTrader platform. This is a web-based platform that allows traders to access their trading account from any device with an internet connection. It is known for its convenience and ease of use.
Lastly, FP Markets provides a suite of trading tools, including MAM/PAMM, VPS, Autochartist, Myfxbook, and more. These tools can enhance your trading experience and help you make informed trading decisions.
Whether you’re a beginner or an experienced trader, FP Markets offers a platform that can suit your trading needs. However, it’s important to familiarize yourself with the features and tools of each platform to determine which one is best suited for your trading style and strategy.
Customer Service
How Do I Contact FP Markets?
FP Markets provides several ways for customers to get in touch with their support team. Their headquarters is located in Australia, and they have a dedicated multilingual customer support team available 24/7.
You can reach out to FP Markets through various methods including Live Chat, Phone, and Email. For general inquiries, you can visit their FAQs page which serves as a self-service tool. It contains a range of information on account opening, funding, trading, and company information.
If you need further assistance, you can utilize the Live Chat option. With support in over 12 languages, there is no need for interpreting services. From Melbourne to Munich and Madrid, accessibility is at your fingertips with their team members available 24/7.
Their online services include technical support and can be accessed by all website visitors via a popup window within the page. Traders should note that the call centre times are listed in either AEST or AEDT.
You can also find links to their social media accounts, namely Facebook, Twitter, LinkedIn, and Instagram at the bottom of their page. Whether you are looking to open an account, provide some website feedback, or make media inquiries, their dedicated customer support team is on hand to help.
What is FP Markets Customer Service Like?
FP Markets is renowned for its excellent customer service, which is a key aspect of their operations. They have a dedicated customer support team that is available 24/7 to assist traders with their queries and concerns.
The customer service at FP Markets is highly responsive and efficient. They offer support in multiple languages, ensuring that traders from different regions can communicate effectively with the team. The support staff is known for their patience and willingness to help, making the customer experience smooth and hassle-free.
Traders have praised the quick response times and the helpfulness of the customer service representatives. Whether it’s a technical issue, account-related query, or a question about trading, the support team at FP Markets is always ready to assist.
Moreover, FP Markets provides a comprehensive FAQ page that addresses a wide range of topics. This self-service tool is a valuable resource for traders, offering instant answers to common questions.
In addition to this, FP Markets also offers support through live chat, phone, and email. The live chat feature is particularly appreciated by traders for its convenience and immediate assistance.
Overall, the customer service at FP Markets is highly rated by traders. The support team’s dedication to assisting traders, coupled with their professional and friendly approach, contributes to a positive trading experience. However, as with any service, it’s always a good idea to do your own research and understand what level of support you can expect based on your individual needs and preferences.
Additional Features
Does FP Markets Offer Education?
Indeed, FP Markets places a strong emphasis on education and provides a wealth of resources to help traders at all levels enhance their trading skills and knowledge.
FP Markets has established a unique educational project known as the FP Markets Academy. This academy offers a variety of educational videos structured in a straightforward, step-by-step guide. These videos are designed to cater to those who wish to learn to trade and invest in the financial markets.
In addition to these videos, FP Markets also hosts live webinars covering a wide range of trading and investing topics. These webinars are conducted in multiple languages, making it easy for traders around the globe to participate and learn.
For those who prefer learning through listening, FP Markets offers a Podcast Series. This series serves as an audio academy in your pocket, explaining everything you need to know about trading the markets.
FP Markets also organizes events that provide insights into the markets and exclusive trading opportunities. These events can help traders understand how to trade and take advantage of the latest products available on the market.
To ensure traders are well-versed with their trading platform, FP Markets provides easy-to-follow platform tutorials. Understanding how your trading platform operates is crucial to trading success.
For those who enjoy reading, FP Markets offers free trading eBooks. These eBooks cover everything from basic concepts to advanced applications.
Lastly, FP Markets provides a comprehensive trading glossary and a wide range of trading guides. These resources can help traders understand even the most complex trading terms and educate themselves about the forex market.
Whether you’re a new trader or a professional, FP Markets offers a variety of educational resources to enhance your knowledge and skills. Remember, knowledge is power, especially in the world of trading!
Can I trust FP Markets?
FP Markets has built a strong reputation as a reliable broker in the financial trading industry. It is overseen by two top-tier regulators, which are highly trusted, and one second-tier regulator. This extensive regulation ensures that FP Markets adheres to strict operational standards, providing traders with a secure and reliable trading environment.
The broker has also received high trust scores from various review platforms. For example, it has an overall trust score of 87 out of 99, and another review gave it a trust score of 94 out of 100. These scores reflect the broker’s commitment to maintaining a high level of trust and reliability.
Customer reviews also speak volumes about the trustworthiness of FP Markets. Many traders have praised the broker’s excellent customer service, efficient operations, and comprehensive educational resources. These positive reviews indicate that FP Markets is a broker that traders can rely on.
Moreover, FP Markets has implemented comprehensive fraud prevention measures and stringent client fund security protocols. These measures further enhance the trustworthiness of the broker and provide traders with peace of mind.
In summary, FP Markets has demonstrated a strong commitment to maintaining trust and reliability. However, as with any financial decision, it’s always important to conduct your own research and ensure that the broker aligns with your individual trading needs and goals.