FP Markets Review – Online Platforms, Commission, Leverage, Account Types, Features & more
FP Markets is, first and foremost, a forex trading company that operates globally. Primarily you can trade MT4, MT5 and Iress trading platforms.
Alongside that, you would also do raw spreads and high leverage deals.
Now, there are acres of subjects and information that you should know before you consider investing in the FP Markets.
So, in this article, we will explore and tell you everything you need to know about the company.
About FP Markets & Accepted Countries
Incorporated in the year 2005, FP Markets is an Australian company.
Therefore, the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC) are in charge of all the rules and regulations.
Over the years, this company found its ways in the global market. The headquarter is in Sydney, NSW: however, FP Markets has a significant presence in the UK, Malaysia, and of course, in India.
|Founder / CEO||Matthew Murphie|
Also, there are a couple of more registered offices in Saint Vincent and the Grenadines.
The main reason for the company’s blooming success is for the variety and diversity when it comes to products and service.
Forex is the pinnacle service they offer: on top of that, they also provide over 10,000 products: most notable among them are CFDs, indices, commodities, and cryptocurrencies.
FP Markets believe in helping their clients to earn more. That is why they are very keen on developing a wide range of tools to assist their clients.
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FP Markets Trading Platforms
What makes FP Markets so unique is the variety of top-notch Trading Platforms they provide.
|Trading Platform||IRESS, MT4, MT5, WebTrader|
|Desktop Platform – Windows||Yes|
|Desktop Platform – Mac||Yes|
|Desktop Browser Platform||Yes|
|Mobile Site Platform||Yes|
|Android App Platform||Yes|
|iOS App Platform||Yes|
|Windows App Platform||No|
|Other Mobile OS Platform||No|
|Trading Platform Supported Languages||Arabic, Chinese, Dutch, English, french, german, greek, Hungarian, Italian, Japanese, Korean, Malaysian, Polish, Portuguese, Russian, Spanish, Swedish, Thai, Turkish, Vietnamese|
So, the followings are the famous Trading Platform service provider whom the company is working with:
If we do a competitive study, MetaTrader 4 is of the top-tier Trading Platforms in the world right now. Certainly, it is one of the global fan-favorites.
FP Markets understand the level of assistance that MetaTrader 4 can provide to the clients. That is why they are working with this incredible software development company.
Now, the reasons people admire this Trading Platform are as follows:
- You will get a large chunk of indicators, which will help you to do technical study.
- There are 3 charts, 9 time-frames, and a staggering 24 graphical objects available for you to seek help.
- You can check out the Expert Advisors (EAs) at any time.
- You will get pending stop orders of up to 4.
- MetaTrader 4 offers real-time pricing and one-click trading facilities.
- Of course, it has got a robust Market Watch feature.
MetaTrader 5 is the next version of MetaTrader 4. Now, as with every upgrade, this Trading Platform offers all those features that the last version was offering.
Of course, there are some robust new features added to those.
You can take benefit from the latest strategy tester tool. They claim you can do better as it provides trading robots for your assistance.
Other intriguing features include:
- A total of 44 graphical objects backed by 21 time-frames are in the offering.
- For technical analysis, you can choose from more than 80 indicators.
- You can do exchange trading and scalping.
- You can work with up to 100 charts at the same time.
- Up to 6 pending order cancellations allowed.
- There is a dedicated tool to study Advanced Market Depth.
- You can use the Economic Calendar the tool is offering.
MetaTrader Web Trader
MetaTraderWebTrader is a browser-based Trading Platform that FP Markets provide. All the necessary features are there to perform trading with easy.
The platform is ideally suited to casual traders who are seeking non-complicated information.
There is no need for installation: just the internet connection is what you need. Simplicity is its biggest USP and therefore, it fetches information which you generally need.
Iress is yet another top-shelf trading platform that FP Markets offers.
The platform can be further categorized into Iress Viewpoint, Iress Trader, and Iress Investor, all intended to aid the respective users.
Viewpoint is a multi-purpose platform, whereas Iress Trader while Iress Investor is more specific.
Meanwhile, all the Iress platforms have all the tools and indicators which surely contribute to an incredible trading experience.
Some of the names worth mentioning are like Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), and Bollinger Bands.
Now, let us check some of its useful features:
- There are over 50 charting tools as well as more than 50 indicators.
- You will get real-time quotes, and the Market Depth feature is also there.
- You can make pre- and post-market trades.
- Iress has built-in order management tools.
- You can check the Heat Map, and stock market news live.
- You can also check the alert features which you can tweak as you want.
FP Markets Mobile App
As mentioned before, FP Markets offer Trading Platforms for all devices. So, let us talk about the platforms which are available to mobile phones – MetaTrader and Iress.
One great news – both these trading platforms provide support to both iOS and Android. The feedback that both the app received are mostly positive.
MetaTrader is well-known for its incredible UI design. So, you can do trading with ease. Now, on top of the basic functions, there are some robust features that you can also take a look.
The likes of Zoom-in / Zoom-out, easy navigation, one-touch trading, push notification is some of the useful features that the app offers.
One the other hand, Iress is more inclined to providing information quickly and efficiently. Of course, all the necessary functions, indications, and Market Watch features are all there.
You can also set notifications so that you can always stay updated.
Check out Mobile Apps of more Forex Brokers
FP Markets Commission or Brokerage or Fees
There are two primary ways where FP Markets earns – Spreads and Commissions. However, it can be a combination of both.
Since Forex is an international trade, the standard currency that you can choose can either be USD or Euro.
Now, mostly it starts with 0 pip, with the average being 0.09 pip. That is, of course, with a Raw account. As for any standard account, it goes up to 1.19 pips.
What you should expect are the indices to stay competitive, where it typically starts with 0.31 pip. This is: however, we are talking about both the FTSE 100 accounts.
There is an additional charge for the Trading Platforms as well, which is $55 per month that FP Markets charges.
Also, there is a fee for swapping rates on overnight positions. That said, most of the commission generates from spreads of the Standard MetaTrader accounts.
|Commission on trades||Yes|
FP Markets Exposure or Leverage
The Leverage or Trading Exposure that you can get from FP Markets is significant. You can use both the Standard or Raw accounts to initiate leverage.
If you gain enough knowledge and are feeling confident, you can trade up to 1:500 across. We suggest you should calculate correctly before diving in.
Of course, you can use the brokerage calculator available on the FP Markets’ website.
Payment Methods provided by FP Markets
If you are associated with any Forex trading, you must set up the payment modes beforehand trading. FP Markets, however, offer plenty of choices for both when you try to deposit or withdraw funds.
So, here is the list of payment modes that the company offer respectively.
|Deposit Options||Bpay, Credit Card, FasaPay, Neteller, Ngan Luong, PayPal, Paytrust88, Poli, Skrill, Wire Transfer|
|Withdrawal Options||Bpay, Credit Card, FasaPay, Neteller, Ngan Luong, PayPal, Paytrust88, Poli, Skrill, Wire Transfer|
Note there are no specific charges for Depositing funds: however, there can be a delay of 1-2 business days to reflect that on the account.
Find out Payment Methods provided by other Forex Brokers
Investment in Asset Classes or Markets by FP Markets
If you are trading with FP Markets, there are 6 major markets that you can invest. They are as follows:
Forex: FP Markets is renowned for this form of investment. It is available in over 60 currency pairs for you to choose from, whereas majors, minors, and exotics are significant.
Cryptocurrencies: You can trade in virtual currencies that typically include, Bitcoin, Ripple, Ethereum, Litecoin, and Bitcoin Cash.
Share CFD: You can trade 10,000 shares all over the world.
Indices: Deal in FTSE 100 and NASDAQ, alongside 10 other global indices.
Commodities: Crude Oil is a burning example. You can, however, deal in any commodity you like.
Precious Metals: Trade Gold, Silver, Bronze, and many other metals available in the spot markets.
|Supported Cryptocoins||bitcoin, bitcoin-cash, ethereum, litecoin, ripple|
|Total Tradable Assets||13057|
|Number Of Currency Pairs||61|
|Number Of Cryptocurrencies||5|
|Number Of Stocks||NA|
|Number Of Indices||12|
|Number Of Commodities||3|
|Number Of Futures||7|
|Number Of Options||NA|
|Number Of Bonds||0|
|Number Of ETFs||NA|
FP Markets Virtual Trading Account or Demo Account
FP Markets is offering Demo accounts to all traders globally. So, you can take a 30-days trial period offers for MetaTrader 4 or Iress Trading Platforms.
It is quick to install and configure, and of course, an ideal way to get into the groove of trading.
|Virtual Money||$ 5000|
FP Markets Offers or Deals
One of the unfortunate aspects of availing FP Markets is the lack of any deposit bonuses or promotions.
They claim their service to be top-notch, so don’t offer any such Offers or Deals.
|Free Learning Courses||Yes|
|Free Demo Account||Yes|
|Discount on Brokerage||Yes|
|Flexible Brokerage Plans||Yes|
|Forex Trading Contest||No|
|Trading Bonuses & Rewards||Yes|
FP Markets Regulation or Licensing
As mentioned in the about-company section, the Australian Securities and Investments Commission (ASIC), that works under the Australian Financial Services License (AFSL) regulates the company rules.
The license number is 286354.
Additionally, one more entity regulates FP Markets – the Cyprus Securities and Exchange Commission (CySEC), wherein the license number is 371/18.
Meanwhile, an external independent auditor from BDO Australia does the company auditing.
The National Australia Bank or Commonwealth Bank of Australia is the registered bank they use.
Find out Regulations & Licensing of more Forex Brokers
|Easy Markets||Fusion Markets||Go Markets||IronFX|
FP Markets Features
There are loads of additional features that you will get while trading. They are as follows:
- You can learn the basics of fundamental and technical analysis from the e-book range they provide. There are video tutorials available for you to get more interactive information.
- While you are using MT4/MT5, you will get a Virtual Private Server (VPS).
- You can do price analysis using the real-time trader dashboard.
- The Autochartist MetaTrader plugin is a real treat.
- You will also get an Economic calendar and Forex calculator.
|Social Trading / Copy Trading||Yes|
|Guaranteed Stop Loss||No|
|Guaranteed Limit Orders||No|
|Guaranteed Fills / Liquidity||No|
|Trading From Chart||Yes|
|Interest On Margin||Yes|
|Other Trading Features||Yes|
FP Markets Account Types
FP Markets provides two kinds of accounts – Raw account and Standard account. The way it works is simple – the Raw account is for the new traders, while the Standard account is typically for the pro users.
|Spread||From 1.0 pips||From 0.0 pips|
Of course, you can upgrade the account anytime you wish to, but we suggest you go for the Raw account initially if you are new to this.
FP Markets Benefits
Here are some of the significant benefits that FP Markets do provide:
- Every 15+ years, the ASIC &CySEC regulates.
- You will get assistance to know more using the educational resources they offer.
- The customer reviews that FP Market gets are mostly positive.
- Myfxbook and Autochartist plugins are available to explore.
- There is DMA trading in the offering.
- You can exploit the 10,000+ instruments they provide.
- FP Market provides Raw spreads.
FP Markets Trading Account Features
Check below all the trading account features under various account types:
|Trading Desk Type||No dealing desk|
|Suitable for beginners||Yes|
|Suitable for professionals||Yes|
|Suitable for scalping||Yes|
|Suitable for daily trading||Yes|
|Suitable for Weekly trading||Yes|
|Suitable for swing trading||No|
FP Markets – Research & Advisory
Find below all the different reports and support provided by its Research & Advisory team:
|Daily Market Commentary||Yes|
|News (Top-Tier Sources)||Yes|
|Company Stock Review||Yes|
|Free Stock Tips||Yes|
FP Markets Cons or Drawbacks
There are three major drawbacks as we have figured out:
- There are no ETFs available.
- You will not get any Welcome Bonuses.
- They prohibit US clients.
FP Markets Trading Hours
Check out all Trading Hours for various services:
- You can trade 24×5 for the FX currency pairs. However, there is a two mins break between 23:59 and 00:01 GMT that you should keep in mind.
- If you wish to trade in metals and cryptocurrencies, you must do it in between 01:00 – 23:59 GMT every day: however, on Fridays, it is 01:00 – 23:57 GMT.
- Finally, for stock trading, the trading hours are 10:00 – 18:30 GMT, if you are in Europe or the UK. As for the US stocks, it is 16:30 – 23:00 GMT.
FP Markets Customer Care or Contact Details
FP Markets are world-leaders in providing customer supports. Check out your ideal contact ways from the following:
- Email Support– email@example.com.
- Phone number – +61 (0)2 8252 6800 or 1300 376 233 (toll free).
- Live chat – you can chat in 12 languages.
|Support During Weekends||No|
|Live Chat Support||Yes|
|Customer Support Languages||Arabic, Chinese, English, French, German, Greek, Indonesian, Italian, Japanese, Malaysian, Portuguese, Spanish, Thai|
FP Markets Safety & Security
Both the major trading platforms you can be using comes with 128-bit Secure Sockets Layer (SSL) encryption.
Plus, you can set two-factor authentication (2FA) while you try to log in. So, as far as safety goes, you are covered by FP Markets.
FP Markets Rating & Reviews
Based on different users and their experiences below are the company rating and reviews:
|User Experience||7.5 / 10|
|Products & Services||7.8 / 10|
|Brokerage Charges & Fees||8.1 / 10|
|Research & Advisory||7.2 / 10|
|Trading Platforms||7.1 / 10|
|Overall Ratings||7.6/ 10|
|Total Client Reviews||98|
FP Markets Forex Trading – Conclusion or Verdict
With an incredible trading experience, FP Markets is unquestionable of the frontline companies that you should consider when contemplating Forex trading.
The platforms are robust and everyone, whether you are a rookie or a pro, you can access them. The client support is decent and the variety in service is almost unparalleled.
So, we think you should seriously consider availing FP Markets.
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