FP Markets Broker Review

FP Markets Broker Review

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FP Markets is a trusted global broker providing services in forex, cryptocurrencies, commodities, indices, and shares trading. It offers tight spreads that could go as low as 0.0 pip. This broker offers access to more than 10,000 CFD products on the biggest exchanges in the world.

FP Markets Broker Review

FP Markets Regulation and Security

FP Markets or First Prudential Markets is an Australian CFDs and retail forex provider based in Sydney with headquarters adjoining the building of the Australian Securities Exchange. It was founded by Matthew Murphie in May 2005. It is authorized and regulated by the Australian Securities and Investments Commission. Its other hub, First Prudential Markets Ltd operates under the regulatory authority of the Cyprus Securities and Exchange Commission.

This broker has garnered over 40 awards in execution technologies and client services. It has been commended for its outstanding performance as a broker and for the competitive services it offers. It also earned the praises of its clients for its customer service, of which it has also gained awards. FP Markets also follows up on the complaints submitted by its clients, ensuring that traders enjoy efficient services and a quality trading experience.

FP Markets Broker Review

FP Markets Review of Services

FP Markets offers an extensive range of services from platforms, to account types, to trading tools, and to research materials. Below are only some of this broker’s most outstanding features and services.

Trading Platforms

FP Markets offers both MetaTrader platforms in desktop and web, as well as a social trading platform called Myfxbook. 

  • MetaTrader4: MT4 is the most popular platform in the industry because of its flexibility, tight raw spreads, and speed of execution. The most prized features of the MT4 are: an intuitive and customizable interface, technical indicators, 128-bit SSL encryption, Expert Advisors, the MQL4 community, MarketWatch, and one-click trading. It is highly compatible with a lot of PCs and browsers, and is available in desktop, web, and mobile. 
  • MetaTrader5: This is a multi-asset platform that serves as the one-stop source for trading forex, indices, cryptocurrencies, share CFDs, and commodities. FP Markets also uses ECN standards with MT5, making it a prized platform for all levels of traders. Some of the features of this platform are: ultra-low spreads that begin at 0.0 pip, 1:500 leverage, technical indicators, EAs, 6 pending stop order types, 21 timeframes, 8 order types, Scalping, and Copy trading. 
  • Myfxbook: This is a social trading platform that allows traders to automate their trading activities on the MT4 platform. It uses a mirroring service that gives clients access to advanced copy trading techniques for high performance results. Using this feature is as easy as connecting your live account to Myfxbook and finding a system you want to replicate. 

Account Types

FP Markets offers up to five account types for both intermediate and expert traders. It has two main accounts, Standard MT4-MT5 and Raw MT4-MT5, as well as three professional accounts called  Standard Iress, Platinum Iress, and Premier Iress. 

  • Standard MT4-MT5: The minimum deposit amount for this platform is A$100 or equivalent with spreads that begin at 1.0 pip and a leverage of 1:500. It offers ECN-Pricing execution, 0.01 lot minimum trade size, and zero commissions. 
  • Raw MT4-MT5: This account requires a minimum deposit of A$100 with a leverage of 1:500 and spreads that begin as low as 0.0 pip. It offers ECN-pricing execution, 0.01 lot minimum trade size, and charges $3 commission per 100,000 lots.

FP Markets’ Iress accounts are geared towards professional and expert traders. Below are three varieties offered by FP Markets.

  • Standard Iress: This requires a minimum deposit of A$1,000 with Equity CFD margin rates from 3% and a commission rate of A$10 with 0.1% incremental. 
  • Platinum Iress: This account requires a minimum deposit of A$25,000 with Equity CFD margin rates from 3%. The commission rate is A$9 minimum with 0.09% incremental. 
  • Premier Iress: The minimum deposit amount is A$50,000 with Equity CFD margin rates from #%. There is no minimum amount for commission rates but with 0.08% incremental. 

Autochartist

The Autochartist technical analysis tools are useful in determining trading opportunities in real time. It gives clients real-time trade setups that are compatible with beginners and professional traders. This tool provides you up to 1000 trading opportunities every month that will be delivered to you via email and push notifications. 

Traders Toolbox

This feature is a 12-tool suite for online trading that is guaranteed to raise your trading experience to the next level. The tools incorporated on this feature are what they use in Wall Street because of its rich trading infrastructure and valuable market insights. Another key feature of this tool is risk management, which is made easier with the Trader Tools Alarm Manager. 

FP Markets Conclusion

FP Markets is a trusted global broker offering services in forex and CFDs trading. It is regulated by ASIC, a strict regulatory body that is well-trusted by traders. This broker offers competitive features and services, as shown in its exemplary platforms, account types, and various trading tools and materials. Overall, FP Markets is safe, reliable, and recommendable to trade with.