FP Markets Review 2023

FP Markets is a licensed Forex and CFD broker owned and operated by First Prudential Markets Pty Ltd, based in Australia, opened in 2005. FP Markets combines state-of-the-art technology with low-cost ECN pricing and a huge selection of financial instruments to create a genuine broker destination for all types of traders.

FP Markets Review

Our analysis has discovered that FP Markets spreads and commissions is great for low cost trading. Mobile trading is average, but social trading is much limited compared to copy trading leaders such as AvaTrade. FP Markets comes with the following features:

  • Traders can choose from a wide range of online trading platforms including Metatrader 4 (MT4), Metatrader 5 (MT5) , WebTrader and IRESS or monitor your portfolio on the go from any mobile device.
  • FP Markets is a trusted provider of forex, CFDs, indices, commodities, cryptocurrency trading on spreads from 0.0 pips. No deposit fees. 500:1 Leverage.
  • FP grants instant access to +10.000 financial instruments, auto open & close positions, news & economic calendar, technical indicator & charts, many more tools included.
  • FP Markets partners with renowned liquidity providers like Barklays, BNP PARIBAS, citiBank, CommerzBank, CreditSuisse and so on.
  • We saw that the bank with commonwealthbank and guarantee 0% deposit transfers, instant transfers and fast withdrawals.
  • Methods of payment include VISA, BPay, Mastercard, Union Pay, Poli, Skrill, Netteler, Paypal and Bank transfers.

FP Markets is Known For:

Low cost trading, Metatrader plartform, Automated trading using Expert advisors (EA), see more.

FP Markets
Overall:
4.2/5


FP Markets Advantages & Disadvantages

Pros

  • Sound regulation (CySEC and ASIC)
  • Low cost of trading, NDD
  • Wide selection of platforms and trading assets available
  • High leverage levels for Australian traders
  • Wide selection of payment methods

Cons

  • None

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FP Markets Performance

FP Markets offers a commission free standard account (MT4 & MT5), and a commission-based Raw account (MT4 & MT5). There is also an IRESS Account provided on the website, which comes with variable minimum deposits.

4/5

Safety of Funds

FP Markets is considered safe because it is licensed by top tier authority like Australian Securities & Investment Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC.

4/5

Trading Platforms & Tools

FP Markets offers its own IRESS trading platform for CFD trading and both MT4, and MT5 platforms available in web, mobile and desktop versions. FP Markets offers traders edge tool for trade monitoring and MAM/PAMM accounts.

5/5

Minimum Deposit

FP Markets offers reasonable and competitive minimum initial deposit. FP Markets accept minimum deposit of $100

5/5

Leverages

FP Markets offer comparatively high leverage ratio. easyMarkets offers one of the industry highest leverage ratio of 1:500.

3.8/5

Spreads and Commissions

FP Markets offers variable spreads. Average spreads on commissions-free account is 1.0 and the tighter spreads on the ECN Raw account is averaging to 0.45 with a commission of  AUD $3.0 / lot (per side).

4.5/5

Deposit and Withdrawal Method

FP Markets accepts vast selection of payment methods. The broker accepts credit/debit card, bank wire, BPAY, Neteller, Skrill, China UnionPay, PayPal, POLi Pay, Paytrust88 and Fasapay. Base currency for deposit are AUD, USD, SGD, CHF, GBP, CAD, HKD, JPY, EUR, and NZD.

Conclusion

FP Markets offers its clients a choice of two live account types namely Standard account and ECN Raw account. The Standard account is commission-free one, and the Raw account which provides tighter spreads involves a small commission. Contracts for Difference (CFDs) are derivatives and can be risky; losses can exceed your initial payment and you must be able to meet all margin calls as soon as they are made. When trading CFDs you do not own or have any rights to the CFDs underlying assets.

First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations.

Overral Ratings:
4.2/5

2023 Review Methodology

Here at the Forex Broker Expert, we have reviews of more than 200 Forex brokers and trading software. The number one item we check when reviewing a broker to see if they are a scam is a safety score. We use a Safety score algorithms to asses risk level. They major criteria we use in grouping a Forex broker in to risk levels include total years in business, which regulatory licenses each firm holds, is the broker publicly traded in any stock exchange as well as our manual in house check.

Different Forex brokers offer different account types which goes by different names like standard, classic, premium, VIP or gold. The most popular minimum deposit for a Forex basic account is $250. Leverages can go as high as 1:200. As for the pips charged on these accounts, EURUSD is usually the pair with the lowest spread and the ideal thing is that each type of account is unique and will either have fixed or floating pips depending on which account portfolio you have chosen. Learn more about the industry best prectices here.

About Our Team

Firstly, congratulations on doing your research and due diligence! we’re dedicated to helping you get started trading online and have your own forex account. Most importantly, we want to help you make a success of it. Since starting up in 2010, we’ve connected hundreds of thousands of readers to the right forex trading platform for their needs.
We do this through conducting our own research. We’re constantly testing (and re-testing) the most popular forex brokers on the market to give you completely impartial advice about every single broker we feature on our site. We even get people just like you to give them a go and give us their feedback.
Our aim is to provide you with the very best information so you can make an informed decision about which forex broker is best for you – and feel happy with your choice!

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