FP Markets has been leading the forex brokerage industry since 2005, which provides a competitive spread. If you look for the FP Markets review, you will find that they are an award-winning broker that provides a transparent service from the beginning.
We did extensive research and found them legitimate as they are regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).
FP Markets has started their journey from Australia and in the last 15 years expanded to 80+ countries. From all these countries, they have thousands of regular traders.
So, why do traders get attracted to the FP Markets?
We have searched for this answer. Read on to get our findings on FP Markets.
Top Finding on FP Markets that Attracts the Trader
- It was founded in 2005, it proves FP Markets is a well-experienced broker, and so far there are no complaints against them.
- In the case of FP Markets regulations, they have the registration form ASIC and CyCSE, which we have mentioned earlier. ASIC falls under tier-1 jurisdiction, and CyCSE is on tier-2. Tier-1 denominates no risk at all, which marks a broker as safe.
- Offers different trading platforms such as Meta Trader 4, MetaTrader 5, and IRESS (for Australians only). Access to 8,000 tradable symbols via IRESS and 10,000+ assets via MetaTrader.
- Relatively low commission rates and flexible spreads.
- Different account types according to the trader’s capability.
- If offers swap-free accounts for the Muslims.
However, there are some other factors too. Let jump into the factors along with the details of top findings.
Items you can Trade on FP Markets
At FP Markets, they offerForex, Stocks, Indices, Metals, and commodities. Besides, they also cover all the top tradeable assets globally, and the number is more than 10 thousand.
However, the world’s biggest exchange markets will be under your fingertips, such as NASDAQ, ASX, and NYSE.
Products at a glance
- More than 60 forex currency pairs.
- 10,000+ stocks globally.
- Oil, Silver, Gold, and other top commodities.
- 19 Major indices.
You must need an account to trade these products. Let’s see the account details.
FP Markets Account Types
FP Markets offer different account types for the Australian and International types. For the international accounts, they offer Standard and Raw forex accounts via MT4 and MT5 platforms. For Australians, they have three IRESS account types, standard, platinum, and premier.
The standard account is spreads based, and Raw account is most commissioned based, but it offers spreads for some assets too.
The minimum deposit is $100, which is the same for both accounts. Each account has access to the same tradable instruments, maximum leverage, execution, and trade size.
The three types of IRESS have three different offerings for the traders, such as variations in minimum balance, brokerage rate, live data fees, financing, and more.
FP Markets Account Opening
To access the trading features, you will have to open an account, selecting the desired account types. However, you can open an account within a few clicks by providing you information. After submitting the application, FP Markets officials will verify the info, and if everything is okay, they will approve the account in 1-2 business days.
You will have to provide some personal information while opening the account, such as name, address, country of residence, ID, etc.
FP Markets Review: Platforms
FP Markets provide their service via various platforms. However, their top platforms are MetaTrader 4 and MetaTrader 5, which are leading forex trading platforms in the industry. Besides, they also offer IRESS Trader for the Australian markets.
The best thing about the FP Markets MT4 platforms is, it is available through phones and the web. However, the traditional desktop app is also available to download and install for MAC and Windows.
Additionally, other excellent features of the platform are customizable interface, tools, reporting features, and automated trading.
FP Markets Review: Commissions and Spreads
The commission and spreads depend on the FP Markets entity you use. For example, the structure of the spread in the standard account is different from the raw accounts. However, only the raw account charges commission for forex and metals instruments.
Trading Fees of FP Markets
Most of the traders think that the best forex broker doesn’t charge fees on trading. However, it is not true; fees are the only way to earn money for the brokers.
Being said that, FP Markets charges fees by trading lots. However, it is not for all types of trading. FP Markets earns money with a mix of commission and spreads. Other than that, there are not any significant fees you want to worry about.
Deposit and Withdrawal Options in FP Markets
FP Markets offer flexible deposit and withdrawal methods that include a wide range of transaction measures. The payment system includes cards, wire transfer, Neteller, Skrill, PayTrust, Broker to broker, and more.
Additionally, they don’t charge any fees for deposit except for the bank transfer. However, if the bank transfer amount is more than $10,000, FP Markets will cover the deposit fees. A deposit via cards or other digital payments are quick, but a bank wire transfer will take several business days.
Withdrawal methods are just like deposit methods. All the transaction systemin mentioned in the deposit methods can be used for the withdrawals. You can withdraw any amount of money you’re your account, but you have to pay charges for the revenues you want to withdraw.
Withdrawal fees and details will be available to you while you are ready to request a withdrawal.
FP Markets Additional Features
Having the IRESS alongside the Meta Trader is unique for any broker, and FP Markets offer it for the traders. So, getting access to the Australian market and international market at the same time from the same account makes the FP Markets stand out from other brokers. And, none of the brokers from the top forex brokers list have this feature.
FP Markets Review: Education and Research
FP Markets recently launched the Traders Hub, which supplies educational content to the traders as well as provides market analysis. Additionally, the traders hub also provides the daily fundamental and technical analysis for the traders.
FP Markets is a multi-asset platform, so it offers other trading instruments alongside the forex. However, traders may not be acquainted with other instruments. So, Education features will surely help them learn to trade.
Education support includes videos, news, eBooks, tutorials, etc.
FP Markets Customer Support
The 24/5 customer support is there for you on the weekday via phone call, live chat, and email. However, you may also send the email on the weekend, but you will get the replies when the office opens.
Pros of FP Markets
After analyzing several forex broker reviews on FP Markets, we have found the following top benefits.
- The vast range of trading instruments.
- Provide access to the market directly with the competitive spread pricing.
- Top-notch customer support, which is also award-winning.
Cons of FP Markets
- Charge fees for withdrawals.
Hopefully, this FP Markets review has provided you all the necessary things you wanted to know. However, FP Markets is one of the oldest forex brokers that have tens of thousands of satisfied customers all over the world.
In the range of 99 trust scores, FP Markets earns 81, which is really trustable. Besides, the regulations also ensure the safety of trading with the FP Markets. So, we will recommend FP Markets to anyone newbies or experts.