FP Markets Review 2023
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- DayTrading.com Team
We recommend FP Markets for forex and stock traders with 70+ currency pairs and an impressive 10,000+ stocks available as CFDs.
FP Markets is an ASIC- and CySEC-regulated broker that offers forex and CFD trading on a broad range of assets through the MT4, MT5 and IRESS platforms. With trading available through standard and raw spread accounts on thousands of international stocks, forex, indices, commodities, cryptocurrencies, bonds and ETFs, this broker has some of the most comprehensive market coverage available. FP Markets also offers a full range of additional features, including educational resources and access to powerful software such as Autochartist.
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FP Markets is a good option for forex traders, with 70+ pairs covering an excellent range of currencies. Spreads are already tight on standard accounts and start from zero on raw spread accounts, and the broker offers high leverage up to 1:500 and top-tier liquidity.
Speculate on price movements of 10,000+ international stocks using CFDs. An excellent range of global markets is covered, including exchanges from London, Hong Kong, Paris, Frankfurt, Madrid, Amsterdam and New York. However, the broker does not support physical stock trading.
FP Markets' CFD trading covers a range of markets, including 10,000+ equities, indices, commodities, cryptocurrencies and ETFs. Spreads are tight and traders get fast execution speeds.
Take positions on popular cryptocurrencies, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin with leveraged CFDs. However, you cannot directly buy and own crypto tokens.
FP Markets Social Trading app allows for the straightforward mirroring of established traders with an easy-to-follow ranking system.
- Best Global Forex Value Broker 2019 - Global Forex Awards
- Best Quality of Trade Execution 2019 - Investment Trends
- Regulated and reputable broker with ASIC and CySEC oversight
- Tight spreads available on both the standard and raw spread account
- Good range of additional tools and features including educational content, Myfxbook and Autochartist
- MT4, MT5 and IRESS trading platforms
- One of the fullest asset lists on the market
- Bespoke copy trading platform
- High leverage up to 1:500
- $55 subscription fee on IRESS accounts
- Withdrawal fees for some payment types
- Does not accept US customers
FP Markets is an international forex broker offering the MT4, MT5 and Iress trading platforms, along with raw spreads and high leverage. This review covers everything from fees and minimum deposits to account registration and live chat support. Find out whether you should start trading with FP Markets.
FP Markets Company Details
FP Markets is an Australian broker founded in 2005 and regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).
The broker is headquartered in Sydney with an additional entity registered in Saint Vincent and the Grenadines. Its clients span the globe, from India and Malaysia to Europe and the UK.
The award-winning broker offers over 13,000 products, including forex, share CFDs, indices, commodities, and cryptocurrencies. Clients of all levels can choose between ECN or DMA pricing with a range of tools at their disposal.
Trading Platform Reviews
The MetaTrader 4 (MT4) platform is one of the most powerful platforms and a top choice among traders of any level. FP Markets has partnered with some of the leading forex liquidity providers to ensure fast execution and reliability. Enjoy automated trading and advanced analysis features, including:
- 50+ pre-installed indicators for technical analysis
- 9 time-frames, 3 charts, and 24 graphical objects
- Access to Expert Advisors (EAs)
- 4 pending stop order types
- Real-time pricing
- One-click trading
- Market Watch
MT4 is compatible with Windows 7 or higher PCs and Mac OSX and can be downloaded from the broker’s website upon registration.
For the ultimate professional experience, the MT4 successor offers superior features, charting capabilities, signals, plus automated and copy trading functions. Traders also enjoy an improved strategy tester for greater precision with trading robots. Advanced features include:
- 80+ technical indicators for technical analysis
- 21 time-frames and 44 graphical objects
- Exchange trading and scalping allowed
- Up to 100 charts open simultaneously
- 6 pending stop order types
- Thousands of stock CFDs
- Advanced Market Depth
- Economic calendar
MT5 is also compatible with Windows and Mac PCs and can be downloaded from the broker’s website.
Trade from anywhere with an internet connection with the flexible WebTrader, offering the same functionality and execution capabilities as the desktop platform. Without zero installation required, WebTrader allows for one-click trading, real-time price quotes, the complete suite of tools, plus data synchronisation across all platforms.
You can access the WebTrader straight from the broker’s website, using any major internet browser.
FP Markets also offers three additional trading platforms: IRESS Viewpoint, IRESS Trader, and IRESS Investor. The IRESS suite is a top-rated DMA (Direct Market Access) execution system. Though the platforms are similar, IRESS Viewpoint is the updated version of IRESS Trader while IRESS Investor is designed for investors who wish to use hedging strategies.
All three platforms are packed with technical indicators, including trend, momentum and volatility indicators such as Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI) and Bollinger Bands.
Features across all three systems include:
- 50+ technical indicators and 50+ charting tools
- Market Depth and real-time quotes
- Trade pre and post market auctions
- Advanced order management
- Access to market heat map
- Live streaming news
- Customisable alerts
IRESS is compatible with Windows and Mac PCs and is accessible upon account registration.
There are six main markets available at FP Markets:
- Forex – Over 60 currency pairs are available, including majors, minors and exotics
- Cryptocurrencies – Trade on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple
- Share CFDs – Access over 10,000 shares across four continents
- Indices – Access 12 global indices, including the FTSE 100 and NASDAQ
- Commodities – Trade on commodity CFDs, including Brent Crude Oil
- Precious metals – Trade on gold and silver in spot markets
The broker has also introduced a detailed share CFD directory with a dedicated page for each of the stock CFDs offered. This useful resource contains information on the company profile, share price, relevant news and more, informing trading decisions.
Spreads & Commissions
Spreads on major pairs such as the EUR/USD start from 0 pips, averaging around 0.09 with the Raw account and about 1.19 with the Standard account. Indices are equally competitive, starting at 0.31 for the FTSE 100 on both accounts.
For precious metals, spreads average 0.13 pips with the Raw account for gold and around 0.01 for silver. These are competitive when compared to the likes of Pepperstone and IG.
Fees are built into the spread with the Standard MetaTrader account, however commission rates with the IRESS accounts are more complex. A full breakdown can be found on the brokerage’s website.
Other fees to be aware of include a $55 per month subscription fee for IRESS Trader/Viewpoint, as well as swap rates on overnight positions. A useful swap rate calculator is available on the website.
At FP Markets, you can leverage trades up to 1:500 across both the Standard and Raw accounts. A margin calculator can be found on the broker’s website, as well as a useful margin table for global exchanges including the ASX and LSE.
Details of the margin call process are also available on the broker’s website.
FP Markets App
The broker rolled out its own mobile trading app in 2021. The app, available from the App Store and Google Play, offers desktop integration and a portfolio of useful analysis and trading tools. Users can make fast in-app deposits and withdrawals, create a Favourites last for faster trading, and also benefit from leading liquidity providers. For clients wanting to effortlessly move from desktop and mobile, the broker’s app will tick all the boxes.
The MetaTrader platform is available as a mobile app, downloadable onto iOS and Android smart devices. The app receive positive customer reviews. MetaTrader for mobile offers a user-friendly interface with interactive charting tools, featuring easy scrolling and zooming functions, push notifications, and one-touch trade execution. Traders can also view their full trading history and manage their account in offline mode.
Depositing funds is fast and easy with FP Markets, who offer over 10 flexible funding options with zero fees. Available methods include credit and debit cards, bank transfer (Domestic and International), BPay, Poli, PayPal, Neteller, Skrill, PayTrust, Ngan Luong, FasaPay, Online Pay, and Broker to Broker.
FP Markets does not charge any deposit fees and will cover internal bank fees (less than $50) for international deposits over $10,000.
Deposit times are generally instant for those using the MetaTrader platforms, except for bank transfers, BPay, and broker to broker transfers, which take up to 1 business day. All methods take up to 1 business day if using the Iress platform.
You can withdraw funds from the client area via the same methods, with fast withdrawal times of up to 1 business day.
There is no minimum withdrawal but there are fees to consider when collecting revenue, including A$10 for international bank wire, $18 for Online Pay, 1,000 VND + 1% for Ngan Luong, and A$25 for international broker to broker transfers. Neteller charges 2%, Skrill 1%, FasaPay 0.5%, PayTrust 1.5% and Paypal 2% (if using IRESS). Card payments and Australian bank wire transfers are free.
Details of the withdrawal policy are available from the Trading Info area.
Traders can choose to register for a demo account in either the MetaTrader 4 or Iress platforms for 30 days. A demo account is a perfect training tool for those looking to test out the environment before committing real money to a live account. It’s also possible to open demo accounts in both MT4 and Iress simultaneously.
You can get set up and receive your demo login details in seconds, using the online registration form.
Bonuses & Promos
FP Markets is a fully regulated broker and therefore does not offer any deposit bonuses or promotions.
FP Markets Pty Ltd is fully regulated by the Australian Securities and Investments Commission (ASIC) operating under Australian Financial Services License (AFSL) number 286354. The broker is also regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 371/18. Both the ASIC and CySEC are highly reputable along with the UK Financial Conduct Authority (FCA).
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.
Note, however, FP Markets does not offer negative balance protection under the Australian entity.
FP Markets offers a range of educational resources and trading tools suited to all levels, including:
- E-books on the basics of fundamental and technical analysis
- Virtual Private Server (VPS) for MT4/MT5
- Video tutorials for trading platform setups
- Live trader dashboard with price analysis
- Traders hub with articles and blogs
- Myfxbook copy trading platform
- Autochartist MetaTrader plugin
- 800+ Share CFD Directory
- Trader’s toolbox for MT4
- Economic calendar
- Forex calculator
FP Markets Social Trading
The broker has released a bespoke social copy trading solution. Clients can automatically mirror the positions and strategies of established investors. Available on iOS and Android devices, clients can use the broker’s ranking table to find a Provider with a solid trading history and whose strategies and risk parameters match up. A great way to test new markets or to learn from leading traders, this latest feature from FP Markets has a lot to offer.
You can choose between a Standard or Raw account in the MetaTrader platforms. Alternatively, you can open a Standard, Platinum, or Premier account in the Iress platforms.
The Standard and Raw accounts are better suited to beginner traders, with only a A$100 minimum deposit (or currency equivalent), which is reasonably low if compared to IC Markets, for example. The maximum leverage is 1:500 and the Standard account is commission-free, whilst the Raw account charges $3.
The IRESS accounts are designed for more professional traders, with minimum deposits between A$1,000 and A$50,000. Commission per lot is A$10 minimum plus 0.1% for the Standard account, A$9 minimum plus 0.09% for the Platinum account, and no minimum plus 0.08% for the Premier account. Equity CFD margin requirements start from 3% across all three accounts.
Islamic swap-free options are also available, as well as PAMM/MAM trading accounts.
There are numerous benefits of opening an account with FP Markets:
- ASIC & CySEC regulated with 15 years+ in the business
- Comprehensive Share CFD Directory
- Wide range of educational resources
- Excellent customer reviews
- Myfxbook and Autochartist
- DMA trading available
- 10,000+ instruments
- Copy trading
- Raw spreads
Drawbacks of FP Markets include:
- No ETFs
- No welcome bonuses
- US clients not accepted
For FX currency pairs, trading is available 24 hours a day with a two-minute break between 23:59 and 00:01 GMT. The trading week runs from Monday at 00:02 to Friday at 23:57 GMT.
For metals and cryptocurrencies, opening hours are 01:00 – 23:59 GMT daily and 01:00 – 23:57 GMT on Fridays.
Opening hours for equities/stocks are 10:00 – 18:30 GMT for European and UK stocks, and 16:30 – 23:00 GMT for US stocks.
All other assets vary and can be found on the Trading Hours page on the website.
You can contact FP Markets from Monday – Saturday (AEDT) at 07:00 – 07:00 and Sunday – Friday (GMT) at 22:00 – 22:00. Help is available via:
- Email – firstname.lastname@example.org
- Contact number – +61 (0)2 8252 6800 or 1300 376 233 (toll free)
- Live chat – available in 12 languages from the bottom right-hand corner of the page
User reviews show the support team are reliable and helpful. They can advise on APIs, as well as how to close an account or leave a bad review. Note they cannot give tax advice.
FP Markets Pty Ltd is headquartered at Level 5, Exchange House 10 Bridge St Sydney NSW 2000, Australia.
The MetaTrader platforms are protected with 128-bit Secure Sockets Layer (SSL) encryption, as well as the option to enable two-factor authentication (2FA) at login. All funding and payment options are also secure and comply with industry regulations.
FP Markets Verdict
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.
FP Markets accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use FP Markets from United States, Japan, New Zealand, Belgium.
- Wire Transfer
- Credit Card
- Perfect Money
FP Markets Details
|Minimum Trade||0.01 lots|
|Regulated By||ASIC, CySEC, ESMA|
|AI / Machine Learning||No|
|Negative Balance Protection||Yes|
|Guaranteed Stop Loss||No|
CFD Trading Details
|GBPUSD Spread||1.9 average|
|Leverage||1:500 (Global), (1:30 UK)|
Forex Trading Details
|GBPUSD Spread||1.9 average|
|EURUSD Spread||1.1 average|
|EURGBP Spread||1.7 average|
Cryptocurrency Trading Details
|Crypto Auto Market Maker||No|
Compare FP Markets
Compare FP Markets with similar brokers that accept traders from your location. Among available brokers these are the most similar to FP Markets:
IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
Go to IG Group
Forex.com – Forex.com boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they offer a huge range of markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
Go to Forex.com
Just2Trade – Just2Trade offer high-tech trading on stocks and options with some of the lowest prices in the industry.
Go to Just2Trade
FP Markets Comparison Table
|FP Markets||IG Group||Forex.com||Just2Trade|
|Markets||Forex, CFDs, indices, shares, commodities, cryptocurrencies, bonds, ETFs||Forex, ETFs, CFDs, indices, shares, commodities, cryptocurrencies, options, futures, spread betting||Forex, CFDs, Stocks, Indices, Commodities, Cryptos, Futures, Options||Stocks, ADRs, ETFs, futures, options, commodities, bonds|
|Minimum Trade||0.01 lots||0.1 lots||$1||0.01|
|Regulators||ASIC, CySEC, ESMA||FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin||CySEC, IIROC, NFA, CFTC, FCA, CIMA||CySEC, NFA, FINRA, Bank of Russia|
|Bonus||–||–||–||Up to $2,000 for professional accounts|
|Platforms||MT4, MT5, AutoChartist, TradingCentral||MT4, AutoChartist, TradingCentral||MT4, MT5, TradingView, AutoChartist, TradingCentral||MT4, MT5, TradingCentral|
|Leverage||1:500 (Global), (1:30 UK)||1:30||1:200||1:5 to 1:20|
Compare Trading Instruments
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.
|FP Markets||IG Group||Forex.com||Just2Trade|
FP Markets vs Other Brokers
Compare FP Markets with any other broker by selecting the other broker below.
What products does FP Markets offer?
FP Markets offers thousands of tradable products within several markets, including forex, indices, share CFDs, metals, commodities, and cryptocurrencies.
What is the margin call/stop out level at FP Markets?
FP Markets will contact clients if their margin level falls to 100%. Stop out is at 50% margin level, where trades will be automatically closed starting from those with the largest loss.
How can I make a deposit or withdrawal at FP Markets?
You can fund your account or withdraw money from within the client area, once you have registered for an account.
How can I close my FP Markets account?
To close your trading account, email email@example.com. You can also request a full withdrawal of funds.
Does FP Markets offer a demo account?
Yes, you can register for a demo account on both the MetaTrader or Iress platforms.
|FP Markets is an ASIC- and CySEC-regulated broker that offers forex and CFD trading on a broad range of assets through the MT4, MT5 and IRESS platforms. With trading available through standard and raw spread accounts on thousands of international stocks, forex, indices, commodities, cryptocurrencies, bonds and ETFs, this broker has some of the most comprehensive market coverage available. FP Markets also offers a full range of additional features, including educational resources and access to powerful software such as Autochartist.|