Read our long form review here:
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► Overview 📝
FP Markets is a Global CFD and Forex broker based in Australia.
They were established in 2005 so they are one of the oldest in the industry. They have grown to over 20,000 traders.
They offer Direct Market Access to over 10,000 equity instruments as well as raw ECN Forex spreads.
They take traders from around the world but do restrict those from the USA and Canada.
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► Regulation ⚖️
FP Markets is fully regulated by the Australian Securities and Investment Commission.
They also have a number of other client protections such as segregated accounts, capital reserves and dispute resolution protocols.
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► Asset Coverage 💎
Over 10,000 instruments in total the bulk of which are the equities in their DMA accounts.
They also offer Commodities, Cryptocurrency and most of the major / minor forex pairs.
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► Leverage ⚙️
Leverage on accounts will vary according to the asset and size of the position. Max leverage at FP Markets is 500:1 on Forex. They also offer 100:1 on commodities and 10:1 on their crypto.
Equity specific leverage will be displayed in the IRESS platform.
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► Fees & Spreads 💸
Spreads on major forex pairs are close to 0 on the raw ECN account. They are slightly higher on the Standard account.
There will be a lot commission on the ECN raw account of $3 per round trip.
Funding the account for the Standard and Raw accounts is free although there are substantial fees for funding into the DMA account.
There are also bespoke data fees depending on the technology that you have (can be rebated).
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► Account Types 🏷
Three different account types at FP Markets. There are two accounts for the MetaTrader platform (Standard and ECN Raw).
There are also three different DMA accounts that differ according to the amount that you fund,
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► Trading Technology 🖥
Numerous trading platforms on offer.
These include both MetaTrader platforms in the MT4 and MT5 platform. These are well known globally and are effective for trading forex and metals.
Three different types of IRESS platform that will give you Direct Market Access to numerous equity markets around the world.
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► Mobile Trading 📱
There is no FP markets app but there are the three trading applications.
You have the MT4 and MT5 apps which are available in iOS as well as Android.
You also have the IRESS mobile app which is available on the same operating systems.
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► FP Markets Demo Account 📖
No obligation demo account on any of the trading platforms.
This will be funded with 100k in demo funds to practice your trading with.
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► Funding / Withdrawals 💳
Numerous funding options including credit cards, wire, Neteller, Skrill and local Australian banking options.
Withdrawals are easy and stress free. Make sure that you have completed the KYC before you request your withdrawal.
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► Customer Support ☎️
Really effective customer support that answers questions quickly and is really knowledgeable.
You can get hold of them through the live chat, emails or by calling their dedicated phone numbers.
► Other Goodies 🎁
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FP Markets provides a host of educational material including tutorials, guides, eBooks and videos.
For MT4 accounts with over $1,000 funding they will also include the MT4 trader tools plugins.
They also provide rebates on VPS servers that are rented through partner providers.
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► What We Think 💁🏻♂️
Top notch broker that is full regulated with thin margins and extensive asset coverage. Great customer service makes the trading experience that much more pleasant.
Lack of risk management tools and limited crypto coverage slightly disappointing.
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► Warning!! ⚡️
Trading CFDs at FP Markets is very risky. Make sure that you practice adequate risk management to protect your account.
► Disclaimer 📜
This is for informational purposes only. Coin Bureau does not provide investment advice, nor is it an offer or solicitation of any kind to buy or sell any investment products. Rates and terms set on third-party websites are subject to change without notice.
#Forex #Trading #FX #MT4 #Review #crypto #ASIC
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