| Overall | Commissions & Fees | Licensing & Safety | Platforms & Tools | |
|---|---|---|---|---|
| Points | 90 | 87 | 92 | 91 |
Overview – Fees and commissions – Safety – Opening an account – Account types – Trading Platforms – Markets and products – Research tools – Education and training – Customer support – Our verdict
review
Our FP Markets review explores an outstanding broker with an excellent track record. Founded in 2005, FP Markets serves clients in more than 80 countries and executes transactions valued at over $1 billion daily. FP Markets offers more than 10,000 tradable products, competitive spreads, and lightning-fast execution on your trades. It is approved by top regulatory bodies including the Australian Securities and Investment Commission and Cyprus Securities and Exchange Commission. FP Markets has won over 35 awards, including the Best Global Forex Value Broker in 2019 and Australia’s Most Intelligent Solution Provider in Forex Trading in 2020.
Over 10,000 tradable assets- Highly competitive spreads
- Regulated by the ASIC and CySEC
- Best broker for all types of traders
Limited account types
Over 10,000 tradable assets
Limited account typesoverall scores
In this review, you can find all the information you need to decide whether is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how scored in each of our high-priority categories.
FP Markets fees and commissions
FP Markets practices highly competitive trading and non-trading fees. With a standard account, you can expect low spread and zero commissions, whilst Raw accounts have small commission fees and spreads starting from 0 pips. FP Markets also allows you to make free deposits and withdrawals and does not charge an inactivity fee. Overall, this low-cost price structure is perfect no matter whether you’re a beginner or a veteran trader.
Our experts have reviewed FP Markets’ fees based on how they compare with those of other reviewed brokers. For each broker, we analyze both trading fees and non-trading fees:
– Trading fees are charged every time you place a trade. They include spreads, commissions, overnight and rollover fees, and currency conversion fees.
– Non-trading fees aren’t directly related to trading, but you should consider them as they make up the cost of using a certain broker. They include payment fees and inactivity fees.
Below you will find a snapshot of the fees charged at FP Markets. Our experts have created these tables based on the fees applied to a standard account. We consider a standard account to be the one that will appeal to most traders; often not the cheapest option, but not a premium option either.
Trading Fees*
| TYPE OF FEE | COST |
|---|---|
| Minimum Spread EURUSD (pips) | |
| Commission (%) | % |
| Commission on Islamic Accounts (%) | % |
| *Based on Standard account type. |
Non-Trading Fees
| Account Fee | N |
| Inactivity Fees | N |
| Deposit Fees | N |
| Withdrawal Fees | N |
FP Markets trading fees
Our FP Markets review team found that this broker practices competitive spreads on forex trading.
- Standard accounts feature spreads starting at 1.1 pips for the EUR/USD.
- Raw or ECN accounts start at 0 pips for the EUR/USD, with a commission of $3 per lot.
Other spreads are as follows:
- Metals feature spreads starting at 0.012 for silver and 0.16 pips for gold on Standard accounts, whereas Raw accounts start at 0.01 for silver and 0 for gold.
- Indices come with spreads starting at 0.2 for the US500 on both Standard and Raw accounts.
- Commodities start at 0.02 pips for WTI.
- Cryptocurrencies feature spreads starting at 2.02 pips for the Bitcoin CFD and 3.3 pips for the Litecoin CFD.
FTP Markets commissions
Our FP Markets review team found that this broker charges a commission of $3 per lot for forex trading and metals on Raw accounts. All other instruments on the Raw account have the commission built into the spread, which also applies to the Standard account. Equity CFDs are a different story, though. Depending on where they are listed, you will have to pay a commission.
For example, NY NYSE listed shares feature a commission of $0.02 per side, with a minimum fee of $15. Singapore listed shares, on the other hand, come with a commission of 0.15% per lot per side, with a minimum charge of 25 SGD. International futures CFDs will also incur commissions that vary based on the instrument and exchange. SFE futures, for example, incur a commission of 15 AUD, while the Nikkei 225 USD (NKD) comes with a fee of $17.50.
Financing/overnight rates
In comparison to other brokers our team has reviewed, FP Markets charges competitive swap rates. For example, at the time of writing, FP Markets charged -3.71 points on a long position on the EUR/USD and 0.82 when shorting.
Non-trading fees
While reviewing FP Markets, our team discovered that this broker charges fees on certain deposit and withdrawal methods, however, there are plenty of ways to fund your account for free too. For example, depositing any currency other than AUD via international bank wire will incur a fee of AU$12.5, whereas depositing with PayPal will incur no fees if you are using MT4/5.
You can withdraw your funds for free with a credit or debit card, but an international bank wire will set you back AU$10, while Skrill withdrawals incur a fee of 1% along with a country fee if applicable. These fees are certainly not surprising, and many traders will agree the site represents excellent value.
FP Markets charges a fee for the Iress Trader/ViewPoint platform that comes in at $55 per month, bringing with it several key benefits that we’ll explore later in our FP Markets review. FP Markets also practices additional charges for data, but many of these can be avoided. For example, access to International Markets Live (IML) costs AU$11. However, you will receive a full rebate of the fee if you conduct a minimum of three trades, meaning it is effectively free.
FP Markets safety
After reviewing FP Markets, our team concluded that this is an incredibly reliable and safe broker. It is regulated by both ASIC and CySEC, which are two of the top regulatory bodies in the world. You can trade safely in the knowledge that you have negative balance protection and EU clients also have investor insurance. FP Markets adheres to strict guidelines, has a great reputation and a huge collection of industry awards.
- Top-tier license
- External audit by an independent third party
- Segregation of client funds
- Partnered with large financial institutions such as Goldman Sachs and Barclays to ensure liquidity
- Negative balance protection*
- Compensation up to 20,000 EUR*
- International clients do not have negative balance protection
No compensation scheme for international clients
*Only for EU clients
FP Markets licenses and regulation
FP Markets is licensed by the Australian Securities and Investment Commission and the Cyprus Securities and Exchange Commission. Both are top-tier regulatory authorities, making FP markets an incredibly safe broker.
Is FP Markets safe?
Our review methodology considers several factors to ensure that all of our recommended brokers are safe and reputable. Alongside the number and strength of licenses, we also consider:
- What protection and/or insurance FP Markets offers should something go wrong
- FP Markets’ reputation, history, and management
FP Markets client protection
FP Markets employs various measures to protect its clients based on the authority they are subject to. EU clients are also covered up to €20,000 if the broker is unable to meet their financial obligations, however, international clients don’t have access to any form of compensation.
Client Protection
| Country | Legal Entity | Protected Up To | Regulators |
| Australia and International | First Prudential Markets | No Protection Offered | ASIC |
| European Union | First Prudential Markets | €20,000 | CySEC |
Our FP Markets review team found that FP Markets also offers clients from the European Union negative balance protection. However, international clients are not afforded the same protection. The good news is that all client funds are held in segregated accounts and cannot be used for operational purposes or to pay creditors in the event of bankruptcy. This provides you with another layer of protection.
FP Markets background and reputation
FP Markets is based in Australia, though they have over 100 employees all over the world and have been operating since 2005. With such a long history, you can be certain that this is a serious broker who won’t disappear overnight. FP Markets have weathered major economic crises, indicating a high degree of financial responsibility.
This broker has an excellent reputation and has never been involved in any scandals or suffered any bad press. It has earned over 35 awards, including Most Satisfied Traders for five years running by the Investment Trends CFD Report, Best Trade Execution, Best Value for Money, and Best Customer Service.
As this broker is regulated by CySEC and ASIC, it has to regularly report on its financial situation to the authorities in question. FP Markets takes things one step further, though, and makes their financial statements available to clients as well. This broker is also subject to regular financial audits conducted by independent third parties to ensure that they are in full compliance with the conditions of their licensing.
Opening an account with FP Markets
Our FP Markets review team found that opening an account with this broker was quite easy. It took just a few minutes to open a live account, whilst opening a demo account took just a few seconds as you only have to provide minimal information. The minimum deposit is highly accessible too.
Is FP Markets available in your country?
FP Markets offers its services to a large number of territories, though some restrictions do apply. If you hail from certain countries such as Canada, Japan, New Zealand, or the United States, you will not be able to open an account with this broker.
How to open an account at FP Markets
Opening an account with FP Markets is quite simple. You just have to fill in your personal information, answer some questions about your trading experience and knowledge, verify your documents, and fund your account. The entire process is digital and takes only a few minutes. Verifying your documents, however, can take up to one business day as this is done manually. The steps you will have to go through to open a live account are as follows.
Step 1
Fill in personal information such as your name, email address, phone number, and country of residence.
Step 2
Provide additional information such as your place of birth, passport number, nationality, address, and employment details.
Step 3
Choose a platform, account type, funding type, base currency, and password.
Step 4
Fill out a questionnaire regarding trading experience and knowledge.
Step 5
Upload proof of your identity and address, then add funds.
Step 6
Hit ‘Login to Portal’ to start trading.
What you will need to open an account
As with any good broker, when you sign up with FP Markets, you will need to provide certain information and documents. To make the process easier, make sure you are prepared with the following:
- Personal information – Name, passport number, country of residence, address, date of birth, tax number and domicile
- Regulatory information – Employer name, profession, industry, annual income, estimated net worth, source of funds, trading experience, trading goals, risk appetite
- Documentation – Proof of identity (valid passport, driving license, or national ID card) and proof of residence (utility bill or bank statement showing full name and address that’s less than six months old)
To open an account with FP Markets, you’ll need to provide proof of identity and proof of address. This process allows FP Markets to meet KYC (Know Your Customer) guidelines. KYC guidelines keep you safe and stop the broker from accidentally facilitating illegal practices, such as money laundering.
What is the minimum deposit at FP Markets?
The minimum deposit is USD/EUR/GBP 50 for EU and UK clients or AUD 100 or equivalent for international clients. This makes FP Markets one of the most accessible brokers on the market and a great option for beginners who don’t want to risk too much capital.
FP Markets payment methods
Our FP Markets review team was pleased to see that the site offers a wide range of deposit and withdrawal methods and that the process is relatively simple. FP Markets allows EU customers to open accounts in USD, EUR, or GBP, whereas international clients can open accounts in AUD, USD, EUR, GBP, SGD, HKD, JPY, NZD, CHF or CAD.
Payment Methods
| METHOD | DEPOSITING TIME | ACCEPTED CURRENCIES | DEPOSITING FEE | MAX. DEPOSIT | WITHDRAWAL | WITHDRAWAL TIME | WITHDRAWAL | WITHDRAWAL FEE |
|---|---|---|---|---|---|---|---|---|
| Visa / Mastercard MT4 / MT5 | Instant | CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD | N/A | Y | 1 Working Day | – | N/A | |
| Visa / Mastercard Iress | 1 Working Day | CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD | N/A | Y | 1 Working Day | – | N/A | |
| Visa/Mastercard (EU Clients) | Instant (up to 1 hour) | EUR, USD, GBP | N/A | Y | 1 Working Day | $/€/£5 | N/A | |
| Domestic Bank Wire | 1 Working Day | AUD | N/A | Y | 1 Working Day | – | N/A | |
| International Bank Wire | 1 Working Day from Receipt of Funds | All accepted currencies other than AUD | AU$12.5 | Y | 1 Working Day | – | N/A | |
| Bank Transfer (EU Clients) | 1 Working Day from Receipt of Funds | EUR, USD, GBP | N/A | Y | 1 – 3 Working Days | $/€/£100 | N/A | |
| Neteller | MT4/4: Instant Iress: 1 Working Day | AUD, CAD, CHF, EUR, GBP, JPY, PLN, SGD, USD | For Iress 4% | Y | 1 Working Day | – | 2% max. 30 USD per $45,000 transaction | |
| Neteller (EU Clients) | Instant (up to 1 hour) | EUR, USD, GBP | N/A | Y | 1 Working Day | $/€/£5 | 2% ($30 cap) | |
| Skrill | MT4/4: Instant Iress: 1 Working Day | USD | For Iress 4% | Y | 1 Working Day | – | 1% + country fees (if applicable) | |
| SkrillSkrill (EU Clients) | Instant (up to 1 hour) | EUR, USD, GBP | N/A | Y | 1 Working Day | $/€/£5 | 1% + country fees (if applicable) | |
| Poli Pay | MT4/4: Instant Iress: 1 Working Day | AUD | N/A | N | – | – | – | |
| BPAY | 1 Working Day | AUD | N/A | N | – | – | – | |
| Fasapay | MT4/4: Instant Iress: 1 Working Day | USD, IDR | N/A | Y | 1 Working Day | – | 0.5% | |
| Paytrust88 | MT4/4: Instant Iress: 1 Working Day | MYR, IDR, THB, VND | N/A | Y | 1 Working Day | – | 1.5% | |
| Ngan Luong | MT4/4: Instant Iress: 1 Working Day | VND | N/A | Y | 1 Working Day | – | 1,000 VND + 1% | |
| PayPal | MT4/4: Instant Iress: 1 Working Day | AUD, CAD, EUR, GBP, HKD, JPY, SGD, USD | MT4/5: N/A Iress: 2% | Y | 1 Working Day | – | MT4/5: N/A Iress: 2% | |
| PayPal (EU Clients) | Instant (up to 1 hour) | EUR, USD, GBP | N/A | Y | 1 Working Day | $/€/£5 | N/A | |
| Online Pay | MT4/4: Instant Iress: 1 Working Day | RMB | N/A | Y | 1 Working Day | – | $18 | |
| Broker to Broker | 1 Working Day | All | Domestic (AUD): N/A International: AU$25 | Y | 1 Working Day | – | Domestic (AUD): N/A International: AU$25 |
FP Markets account types
While conducting this review of FP Markets, our team discovered that this broker offers a limited range of accounts. Clients from certain jurisdictions have access to two main accounts, both with an ECN execution policy. Others can also enjoy access to a series of specialized accounts that use the IRESS platform. The account types on offer from FP Markets for international clients are detailed in the table below.
Account Types
| STANDARD ACCOUNT | STANDARD ACCOUNT (EU CLIENTS) | RAW ACCOUNT | RAW ACCOUNT (EU CLIENTS) | IRESS STANDARD ACCOUNT (LIMITED JURISDICTIONS) | IRESS PLATINUM ACCOUNT (LIMITED JURISDICTIONS) | IRESS PREMIER ACCOUNT (LIMITED JURISDICTIONS) | |
|---|---|---|---|---|---|---|---|
| Minimum Deposit | AU$100 | $/€/£50 | AU$100 | $/€/£50 | AU$1,000 | AU$25,000 | AU$50,000 |
| Max Leverage | 500:1 | 20:1 for non-major FX pairs, gold and major indices | 500:1 | 30:1 for major FX pairs 20:1 for non-major FX pairs, gold and major indices 10:1 for commodities other than gold 2:1 for cryptocurrencies | 500:1 | 500:1 | 500:1 |
| Minimum Order Size | 0.01 lots | 0.01 lots | 0.01 lots | 0.01 lots | |||
| Spreads | From 1.0 pips | From 1.0 pips | From 0 pips | From 0 pips | N/A | N/A | N/A |
| Commission | N/A | N/A | $3 / lot per side | $3 per lot per side | AU$10 min, then 0.1% | AU$9 min, then 0.09% | No min, then 0.08% |
| Available Instrument Types | 50+ Currency pairs, Metals, Commodities, Indices | 50+ Currency pairs, Metals, Commodities, Indices | 50+ Currency pairs, Metals, Commodities, Indices | FX pairs, metals, commodities, indices, cryptocurrencies | Currency pairs, Share CFDs, Futures CFDs, Metals, Commodities, Indices | Currency pairs, Share CFDs, Futures CFDs, Metals, Commodities, Indices | Currency pairs, Share CFDs, Futures CFDs, Metals, Commodities, Indices |
| Available Instruments (Number) | 60+ | 60+ | 80+ | 70+ | 10,000+ | 10,000+ | 10,000+ |
| Trading Platforms | MetaTrader 4 / MetaTrader 5 | MetaTrader 4 / MetaTrader 5 | MetaTrader 4/5 and WebTrader | MetaTrader 4 / MetaTrader 5 | IRESS | IRESS | IRESS |
| Automated Trading (Y/N) | Y | Y | Y | Y | |||
| Execution Type | ECN-Pricing | ECN-Pricing | ECN-Pricing | ECN-Pricing |
Demo accounts
During their review of FP Markets, our team discovered that this broker offers demo accounts for all versions of the live accounts on offer. As long as you use your demo account at least once every 30 days, it won’t expire. So, you can use it for everything from getting to know the broker to testing trading strategies, even once you’ve started trading live. If you wish to top up your demo account with virtual funds, you will have to email FP Markets. While this isn’t a major issue, it can be tedious, especially considering that other brokers we’ve reviewed allow you to do this through your client dashboard.
Islamic accounts
Our FP Markets review team discovered that this broker offers Islamic accounts as well. These accounts are meant to be used by people who can’t pay swaps or receive interest on overnight positions due to their faith. If you want to open an Islamic account, you will first have to open a MetaTrader based account. Then, you will have to email FP Markets to ask them to convert it to an Islamic account.
Please note that Islamic accounts incur administration fees. These fees are charged in USD per lot per night and they differ based on the trading instrument. The lowest fee, for example, is on some popular indices such as AUD 200 and comes in at $1 per lot per night. The highest administration fee is for the EUR/ZAR currency pair and is $33 per lot per night. Other than these administration fees and the fact that the account will not incur swaps or receive interest, all other conditions are the same as the regular version of the account.
FP Markets trading platforms
Our FP Markets review team found that this broker offers quite a few options in terms of trading platforms, though it does differ by jurisdiction. All clients can trade using MetaTrader 4 and MetaTrader 5, including the WebTrader and mobile versions of these platforms. Certain international clients will also be able to access the Iress suite of trading platforms and tools, which include a downloadable app, a web-based platform, and a mobile one.
FP Markets offers three trading platforms. A trading platform is simply a software interface that allows you to place trades. Trading platforms often come with charting, research, and order processing tools too. To ensure that we only recommend high-quality brokers, our expert reviewers have tried and tested each of the FP Markets trading platforms. When doing so, they considered a range of factors including how easy the platforms are to use, what features each trading platform offers, and how suited each platform is to different types of traders.
Trading Platforms
| METATRADER 4 | METATRADER 4 (MOBILE) | METATRADER 5 | METATRADER 5 (MOBILE) | IRESS SUITE | IRESS (MOBILE) | |
|---|---|---|---|---|---|---|
| Instrument Classes | 5 | 5 | 4 | 4 | 5 | 5 |
| Number of Instruments | 146 | 146 | 83 | 83 | 10,000+ | 10,000+ |
| Number of Order Types | 8 | 8 | 8 | 8 | Multiple depending on instrument | Multiple depending on instrument |
| Number of Indicators | 50+ | 50+ | 80+ | 80+ | 59 | 59 |
| Number of Drawing Tools | 24 | 24 | 44 | 44 | 50+ | 50+ |
| Robots/EAs (Y/N answer) | Y | Y | Y | Y | N | N |
| Social/Copy Trading (Y/N answer) | Y | Y | Y | Y | N | N |
| Downloadable (Y/N answer) | Y | Y | Y | Y | Y | Y |
| Browser Compatibility | Any browser | N/A | Any browser | N/A | Any browser | N/A |
MetaTrader 4
FP Markets offers the popular MetaTrader 4 platform, which you can use to trade 146 instruments across five asset classes, namely currency pairs, stock CFDs, commodities, indices, and cryptos. MetaTrader 4 is a very popular platform due to the many features it offers. These include over 50 built-in indicators, 24 analytical objects, a customizable interface, and the ability to use robots or expert advisors. Trading signals are also available, as are multiple types of orders.
You can, therefore, employ market orders, pending orders such as buy limit, buy stop, sell limit, and sell stop, as well as stop losses, trailing stops, and take profit orders. Despite the wide range of features, MT4 is a user-friendly platform. It also has a very safe log-in system that involves a customer log-in number and a password. FP Markets also provides access to the web-based version of MT4. It provides the same critical features as the desktop version, with the added advantage that it can be accessed from any device, whether another computer or mobile unit.
MetaTrader 5
Our FP Markets review team found that this broker also offers MetaTrader 5. Though the trading platform offers even more features than MT4, with additional indicators and analytical tools, the number of instruments you can trade is more limited.
On MetaTrader 5, you can trade a total of 83 instruments across four asset classes: currency pairs, commodities, indices, and cryptocurrencies.
FP Markets offers real-time market news and analysis right on the MT5 dashboard, thereby providing you with all the tools you could need to trade effectively. Like MT4, trading signals are also available. You can also access MetaTrader 5 WebTrader, which is the browser-based version of the trading platform. It offers most of the features of the downloadable version.
Iress ViewPoint Suite
The Iress suite is designed for professional traders and features a comprehensive active trader platform that has advanced features. Iress offers you the ability to manage multiple portfolios, access to real-time price streaming, genuine exchange pricing, market depth, and an intuitive interface. With Iress, you’ll have access to 59 indicators, over 50 drawing tools, and multiple order types, depending on the instrument.
You can trade over 10,000 instruments across five asset classes which are share CFDs, futures CFDs, indices, commodities, and currency pairs. The Iress Suite also offers a WebTrader so that you can trade from any device without having to download and install the software.
Mobile trading
FP Markets offers mobile versions of MetaTrader 4, MetaTrader 5, and Iress. They are all available as downloadable apps that have been customized for use on mobile devices. All three platforms offer Android and iOS-compatible versions of their apps.
Mobile trading provides the same features as on desktop, but the layout is more suited to smartphone devices. This means you can trade easily – and comfortably – from almost anywhere. If you would prefer to avoid downloading an app to your phone, you can always use the WebTrader version of your chosen platform.
What is the execution policy at FP Markets?
While conducting this review of FP Markets, our experts found that this broker practices two execution models, namely Direct Market Access (DMA) Pricing and ECN Pricing. DMA is a model whereby you receive a genuine exchange price feed from the underlying market that you are trading. You’ll receive live pricing and full market depth, as well as being able to access the exchange order book and having all your orders on DMA products hedged.
ECN pricing means that FP Markets streams prices directly from the organizations that provide the broker’s liquidity. This translates into very competitive spreads, ultra-low latency execution, and minimal slippage. FP Markets claims that your trades will be executed in under 38 milliseconds thanks to both their model and cutting-edge technology. Maximum trade sizes differ based on the type of instrument. For currency pairs, for example, the maximum trade size is 50 lots.
Our FP Markets review team also found it interesting that this broker doesn’t have any limits in place on the number of open orders you can have. This broker also allows scalping and hedging, making them one of the few brokers to still allow both trading strategies.
FP Markets products and markets
During their review of FP Markets, our team of experts was impressed to discover how many trading instruments this broker offers. You can trade over 10,000 instruments across six markets: forex, shares, metals, cryptocurrencies, indices, and commodities.
| Instrument | Number |
|---|---|
| Currency Pairs | |
| Commodities | |
| Precious Metals | |
| Indices | |
| Stocks and Shares | |
| Cryptocurrencies | |
| Options | |
| ETFs |
Currency pairs
FP Markets provides you with 61 currency pairs to trade. This includes all the majors and the most important crosses and minors, as well as quite a few exotic pairs, such as the EUR/ZAR and the USD/TRY. Though a few other brokers might offer more currency pairs, FP Markets still offers more than sufficient forex options for any trader.
Stocks and shares
FP Markets offers a truly impressive portfolio of stocks for you to choose from. Spanning four continents, the 10,000+ shares on offer ensure you can trade even some of the more obscure stocks. This broker offers shares listed on the Australian, UK, USA NASDAQ, USA NYSE, Hong Kong, and Singapore exchanges.
Commodities
Our FP Markets review team found this broker’s offering in terms of commodities to be rather limited. With only three commodities available, you may want to diversify your portfolio with other asset classes.
Precious metals
In terms of precious metals, FP Markets offers two metals but four trading instruments as you can trade gold and silver against the USD and the AUD. While this offering is limited, it doesn’t matter quite as much, seeing as the most important and liquid metals are available.
Indices
FP Markets offers you access to the major stock indices from across the globe by providing index CFDs. Some of the indices available include the UK100, the EURO50, the JP225, and the HK50.
Cryptocurrencies
FP Markets offers five of the most popular cryptocurrency CFDs, namely Bitcoin, Ripple, Bitcoin Cash, Litecoin, and Ethereum. You can trade these cryptos against the USD and the AUD. Trading CFDs is a great option to trade cryptos without direct exposure to these volatile assets.
Social trading
Our FP Markets review team found that this broker offers AutoTrade, which is a cutting-edge mirroring service allowing you to access the top copy trading techniques for the best results. AutoTrade is provided via Myfxbook.com and gives you the chance to copy a variety of systems directly into MetaTrader 4.
FP Markets research tools
During this review of FP Markets, our team of experts discovered that while this broker offers an impressive range of trading tools, access is limited to some of them. To be able to use the complete trading toolbox software, you have to deposit a minimum of AU$1,000. We’d recommend taking advantage of the full range of tools, but the good news is that if you’d prefer to deposit less, you’ll still have access to platform tools and expert analysis. Compared to other reviewed brokers, FP Markets’ trading tools are excellent.
Research Tools
| News (from top-tier sources) | N |
| Trading Signals and Indicators | N |
| Trade Ideas | N |
| Expert Analysis | N |
| Autochartist Tools | N |
| Sentiment Charts | N |
| Economic Calendar | N |
News
FP Markets provides access to daily news feeds right in your trading platform. You can stay up to date with all the latest news, as well as forecasts of economic releases that could affect market pricing. You can also visit the News page under the Resources tab to find all the latest action at FP Markets, such as the launch of new features.
Trading signals and indicators
This broker provides trading signals via AutoTrade from Myfxbook.com, but also via the Autochartist suite of tools. You can also use up to 31 different indicators, which include trendlines and Fibonacci retracement. This is more than enough to get you started and you can always add additional indicators and signals to the MetaTrader platforms.
Trade Ideas
Trade Ideas are provided at FP Markets through their Traders Hub blog. Launched relatively recently, this is a great source of analysis for all skill levels. You can expect detailed articles of a high quality, with at least two or three up to date pieces published daily.
Expert analysis
FP Markets provides extensive expert technical analysis, through the Traders Hub blog. You can also find fundamental analysis, and both types are written by FP Markets’ team of professional traders and industry insiders. You can sign up to have the analysis delivered right to your inbox too.
Autochartist tools
Our FP Markets review team was pleased to see that this broker offers Autochartist technical analysis tools to help you become the most effective trader possible. Autochartist offers real-time trade setups for both beginners and veterans. You will receive trading opportunities via email, mobile, or on your client dashboard.
They can also be configured to land straight in MT4/MT5. This suite of tools sends more than 1,000 trading opportunities and ideas per month across a variety of financial markets, including forex, commodities, and indices. Autochartist constantly scans the market looking for great trading opportunities. It is a fully customizable tool that is easy to use. Plus, it comes with an expert advisor to make your trading life even easier.
FP Markets education and training
While reviewing FP Markets, our experts found that the broker offers excellent educational materials that are perfect for beginner traders. You can benefit from ebooks, video tutorials, and a wide range of easy-to-understand articles that cover everything from trader psychology to using VPS hosting. Overall, the materials at FP Markets will help you to become a better trader.
Educational Features
| Demo Account | N |
| Platform Tutorial Videos | N |
| Educational PDFs | N |
| Live Webinars | N |
| YouTube Videos | N |
| Trading Academy | N |
| Trading Glossary | N |
Platform tutorial videos
FP Markets provides a few basic videos to help you get up and running with the MetaTrader 4 trading platform. Whilst the videos are short, they are very clear. That said, our FP Markets reviewers would have appreciated more content that covers setting up charts or using indicators.
Educational PDFs
This broker offers five educational PDF guides. To get them, you have to enter your email address, and a link you will be sent to you so you can download each one individually. Again, these guides are basic and short, but the good news is that they are easy to understand.
In addition to the downloadable PDFs, FP Markets also regularly publishes educational articles on the Traders Hub blog. These cover a wide range of topics, however, the lack of an effective structure can make it challenging for beginner traders.
YouTube videos
FP Markets’ YouTube channel is packed with useful videos. Here you can find the same MT 4 tutorial videos as mentioned earlier, alongside in-depth webinars and trading forecasts. One of the benefits of having these on YouTube is that you can navigate the channel easily, and add them to your own playlists. This allows you to create a comprehensive trading guide based on what interests you most.
FP Markets customer support
Our FP Markets review team was pleased to discover that this broker deserves all the customer service awards it has won. You can contact FP Markets through live chat, email, phone, or via a call-back service. Help is offered in a variety of languages and, when we reached out, we found the staff to be knowledgeable, friendly, and quick to respond. This is vital, especially when trading volatile markets.
- Live chat
- Quick response times
- Multi-lingual support
- 24/5 support
- Helpful and knowledgeable team
- Call-back service
- The search function is somewhat ineffective
You can get in touch with FP Markets customer support using the following methods:
- Phone:
- Sydney +61 (0) 2 8252 6800
- Sydney 1300 376 233 (Toll-free number)
- Limassol +357 25 056 926
- Email:
- European Union Clients
- Account opening: [email protected]
- Customer support: [email protected]
- Funding & withdrawals related: [email protected]
- Compliance: [email protected]
- Complaints: [email protected]
- Trading activity related: [email protected]
- International clients
- New inquiries: [email protected]
- Account opening: [email protected]
- Withdrawal related: [email protected]
- Funding related: [email protected]
- Trade activity related: [email protected]
- Support: [email protected]
- European Union Clients
- Live chat
- Call back
- International clients: https://www.fpmarkets.com/faq/call-back/
- EU clients: https://www.fpmarkets.eu/faq/call-back
Customer support is available Monday to Friday from 9 AM to 6 PM (GMT +3) for Limassol, and Monday to Saturday 7 AM to 7 AM (AEDT) and Sunday to Friday 10 PM to 10 PM (GMT) for Sydney. In other words, you can reach customer support in Sydney 24/5, when the financial markets are open. When we tested the phone support, we got through quite quickly and the customer support agent was very helpful. However, we found we got the same level of great service via live chat, which we honestly preferred over calling internationally. The live agent was quick to respond and very helpful. Email took a little while longer, but that’s understandable. After all, if you have an urgent issue, the broker probably expects you to get in touch with them via phone or live chat.
The call-back service was great; staff called when promised and helped us out with our issues quickly and easily.
We were very pleased with all our interactions with the FP Markets customer support team, regardless of the channel we used to contact them. They were always friendly and did their best to walk us through the solutions step-by-step. Overall, our team of experts concluded that FP Markets offers truly outstanding customer service. Their team deserves all the awards they’ve won and more.
FP Markets mobile compatibility
Our FP Markets review team found that this broker’s website works outstandingly well on mobile devices. It offers all the features you need, including easy navigation and a mobile-responsive site, as well as the ability to fund your account, access your client portal, and get in touch with support.
FP Markets – Our verdict
FP Markets is an outstanding and highly reliable broker that offers an extensive array of trading instruments, excellent trading platforms, and stellar customer support. Our team of experts is more than happy to recommend this broker to new and veteran traders alike.
A wide range of trading tools that include expert analysis, trading signals, and copy trading functions, combined with competitive spreads and a truly outstanding execution model, really make FP Markets one of the best brokers on the market. To start enjoying the outstanding trading experience FP Markets offers, sign up with this broker today. In only a few minutes, you’ll be enjoying all the awesome benefits they offer.
Final Summary
| Minimum Deposit (USD) | |
| Licenses | |
| Max. Leverage | |
| Client Protection | N |
| Broker Type | |
| Number of Instruments | |
| Currency Pairs | |
| Stocks | |
| Cryptocurrencies | |
| CFDs | N |
| Proprietary Trading Platform | N |
| MT 4 | N |
| MT 5 | N |
| Mobile Compatible | N |
| Research Tools | N |
| Educational Materials | N |
| Payment Methods | |
| 24/5 Customer Support | N |
| Live Chat | N |
FP Markets information
- Year Founded: 2005
- Company Trading Names: First Prudential Markets Pty Ltd / First Prudential Markets LLC
- Licenses: ASIC and CySEC
- Headquarter Address: Level 5, Exchange House 10 Bridge St, Sydney NSW 2000, Australia
- Phone Number: +61 (0)2 8252 6800
- Facebook: https://www.facebook.com/FirstPrudentialMarkets/
- Twitter: https://twitter.com/FP_markets
Risk Disclaimer: FP Markets offers CFD products. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Our methodology: This review of FP Markets has been created using accurate data and unbiased facts. To test the broker, we have used our unique and detailed methodology, which assesses over 200 criteria points in 10 key areas. This guarantees that all of our reviews are fair and extensive.
We update our methodology and our reviews regularly. Methodology updates are made so that new broker features and products are taken into consideration. Review updates ensure that all the information we provide is current and correct.
What’s next
TAKE ACTION
Open an account on the broker website.
COMPARE BROKER
See what benefits one offers over the other.
CHECK THE FOREX GUIDES
Trading financial markets has never been easier.
Frequently asked questions (FAQ)
Yes, FP Markets is regulated by two top-tier authorities, namely the Australian Securities and Investment Commission and the Cyprus Securities and Exchange Commission. This ensures all of your personal information and funds are completely safe.
No, FP Markets is not a scam. This firm is one of the best and most reliable brokers available on the market. If it wasn’t, there’s no way it would’ve made our list of recommended brokers, all of which have been tested first-hand by our experts with real money deposits and withdrawals.
The minimum deposit at FP Markets is 50 USD/EUR for EU clients and 100 AUD for international clients. While some of the other reviewed brokers offer lower minimum deposits, this is still more than accessible for any serious trader.
FP Markets charges a commission only on the Raw account, which features lower spreads than the Standard account to compensate. What this means is that, even though you are charged a commission, you won’t see a massive dent in your overall balance.
FP Markets offers two account types, namely a Standard and a Raw account. This broker also provides options for professional traders through Pro versions and Iress-based accounts, giving you plenty of choices whether you’re a new or experienced online trader.
