FP Markets Review 2023 – FP Markets is an Australian CFD and forex broker regulated by the top-tier ASIC. FP Markets offers low forex fees. You can be up and running quickly as both account opening and deposits are super easy and fast. There are several excellent educational tools, such as demo accounts and e-books. The product lineup at FP Markets is limited to forex, CFDs (equities, indices, metals) and cryptocurrencies. MetaTrader 4’s web and desktop trading platforms have an outdated design. The quality of research tools is uneven, especially when it comes to fundamental data, news or charting.
FP Markets is a regulated broker, it is overseen by top-tier financial regulators in multiple countries . FP Markets is also covered by investor protection in selected jurisdictions.
Best broker for Forex and Investments
(78.28% of retail CFD accounts lose money)
FP Markets highlights
| 🗺️ Country of regulation | Australia, Cyprus, St. Vincent and the Grenadines |
| 💰 Trading fees class | Low |
| 💰 Inactivity fee charged | No |
| 💰 Withdrawal fee amount | $0 |
| 💰 Minimum deposit | $100 |
| 🕖 Time to open an account | 1 day |
| 💳 Deposit with bank card | Available |
| 👛 Depositing with electronic wallet | Available |
| 💱 Number of base currencies supported | 10 |
| 🎮 Demo account provided | Yes |
| 🛍️ Products offered | Forex, CFD, Crypto, Stocks traded on the Australian Securities Exchange |
Fees
| Assets | Fee level | Fee terms |
|---|---|---|
| S&P 500 CFD | Low | The fees are built into the spread, 0.5 points is the average spread cost during peak trading hours. |
| Europe 50 CFD | Low | The fees are built into the spread, 1.7 points is the average spread cost during peak trading hours. |
| EURUSD | Low | Raw account: $3.00 commission per lot per trade plus spread cost. 0.09 pips is the average spread cost during peak trading hours. |
| Inactivity fee | Low | No inactivity fee |
How we ranked fees
We ranked FP Markets’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.
To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on are trading fees, and non-trading fees.
- Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
- Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.
In the sections below, you will find the most relevant fees of FP Markets for each asset class. For example, in the case of forex and stock index trading the most important fees are spreads, commissions and financing rates.
We also compared FP Markets’s fees with those of two similar brokers we selected, IC Markets and Pepperstone. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of FP Markets alternatives.To have a clear overview of FP Markets, let’s start with the trading fees.
FP Markets trading fees
FP Markets trading fees are generally low.
We know it’s hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.
We have selected popular instruments within each asset class:
- Stock index CFDs: SPX and EUSTX50
- Stock CFDs: Apple and Vodafone
- Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP
A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used was:
- 20:1 for stock index CFDs
- 5:1 for stock CFDs
- 30:1 for forex
These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let’s see the verdict for FP Markets fees.
CFD fees
FP Markets has average CFD fees.
| FP Markets | IC Markets | Pepperstone | |
|---|---|---|---|
| S&P 500 index CFD fee | $2.4 | $2.4 | $2.3 |
| Europe 50 index CFD fee | $2.2 | $2.4 | $2.0 |
| Apple CFD fee | $32.2 | $1.8 | $3.0 |
| Vodafone CFD fee | $25.3 | $6.0 | $22.6 |
When trading S&P 500 index CFDs at FP Markets, the costs are offset by the swap points you get.
When you trade stock CFDs, FP Markets will charge a commission.
| Market | Commission per trade | Minimum fee |
|---|---|---|
| NYSE, NASDAQ | $0.02 per stock | $15 |
| London | 0.10% of the trade value | £10 |
| Frankfurt | 0.10% of the trade value | €10 |
| Australia | 0.08% of the trade value | AUD 0 |
| Singapore | 0.15% of the trade value | SGD 25 |
| Hong Kong | 0.30% of the trade value | HKD 100 |
Forex fees
FP Markets forex fees are low. Depending on the type of account you choose, commissions may vary (see available account types below). The costs for the ‘ECN Raw’ account include a lower spread cost and a $3 per lot per trade commission. If you choose the Standard account, you’ll be charged a higher spread cost but no commission.
| FP Markets | IC Markets | Pepperstone | |
|---|---|---|---|
| EURUSD benchmark fee | $13.6 | $12.1 | $13.9 |
| GBPUSD benchmark fee | $8.1 | $6.1 | $10.2 |
| AUDUSD benchmark fee | $8.6 | $7.0 | $8.8 |
| EURCHF benchmark fee | $3.2 | $1.2 | $2.1 |
| EURGBP benchmark fee | $12.3 | $8.2 | $10.5 |
Stock fees
FP Markets gives you access to real stocks, but only to those traded on the Australian Securities Exchange. Fees vary by account types:
| Commission | Minimum fee | |
|---|---|---|
| Standard | 0.11% | $14.95 |
| Non-Leverage CFD | 0.08% | No minimum |
Non-trading fees
FP Markets has low non-trading fees.
| FP Markets | IC Markets | Pepperstone | |
|---|---|---|---|
| Account fee | No | No | No |
| Inactivity fee | No | No | No |
| Deposit fee | $0 | $0 | $0 |
| Withdrawal fee | $0 | $0 | $0 |
FP Markets doesn’t charge an inactivity fee or account fees, except for the IRESS Trader platform. Here, a monthly fee of AUD 55 is charged, unless you generate at least AUD 200 in monthly commissions or hold a balance of AUD 50,000.
FP Markets charges no withdrawal fees if you use domestic bank transfer or credit cards, but an AUD 10 fee is levied on international withdrawals.
Account opening
FP Markets accepts customers from all over the world, although with a few notable exceptions: you can’t open an account if you are from the US, Japan, New Zealand, Belgium and a handful of other countries.
What is the minimum deposit at FP Markets?
The minimum deposit depends primarily on what assets you want to trade. You can either open an account using the MetaTrader platforms for forex trading, or go for CFDs and stocks on the Australian Securities Exchange and open an account using the IRESS platform. The minimum deposit for MetaTrader standard accounts is AUD 100, while the same standard account on the IRESS platform needs to be funded with at least AUD 1,000.
Account types
FP Markets has two trading platforms, MetaTrader and IRESS, each coming with separate account types that involve different fee structures. There’s also a difference between accounts based on ownership. Sounds complicated? Let’s clear that up for you: for forex, we recommend MetaTrader, while for stocks and CFDs you should use IRESS.
With MetaTrader, you can have two account types:
- Standard Account: higher spread, zero commission
- Raw Account: lower spread, but also charges a commission
On the IRESS platform, you can choose from three account types:
- Standard
- Platinum
- Premier
Going from Standard to Premier, expect higher minimum balance requirements but lower fees.
On IRESS, you can choose from three platforms:
- IRESS Investor: a simple platform
- IRESS Trader: an advanced platform
- IRESS ViewPoint: an advanced platform with an enhanced design
Based on ownership, FP Markets has further options:
- Individual: the account is owned by a single individual
- Joint: the account is owned by two or more individuals
- Corporate: the account is owned by a legal entity
- Trust/SMF: the account is owned by a trustee
To have a clear picture, see the following table listing the various account types and the most important fees.
| Minimum deposit | Pricing and fees | Available trading platform | |
|---|---|---|---|
| Forex | |||
| Raw | AUD 100 | Lower spreads, commission is $3 per lot per trade | MT4 and MT5 |
| Standard | AUD 100 | Higher spreads, but no commission | MT4 and MT5 |
| CFD | |||
| Standard | AUD 1,000 | Financing rate: FP Markets Base rate + 4.0% Fee for IRESS Trader: AUD 55 per month* ASX live data: AUD 22 per month** | IRESS Trader and IRESS Investor |
| Platinum | $25,000 | Financing rate: FP Markets Base rate + 3.5% Fee for IRESS Trader: AUD 55 per month* ASX live data: AUD 22 per month** | IRESS Trader and IRESS Investor |
| Premier | $50,000 | Financing rate: FP Markets Base rate + 3.0% Fee for IRESS Trader: AUD 0 ASX live data: AUD 0 | IRESS Trader and IRESS Investor |
| Real stock | |||
| Standard | AUD 1,000 | 0.11% commission of the trade value and AUD 14.95 minimum fee | IRESS Trader and IRESS Investor |
| Non-leveraged | AUD 1,000 | 0.08% commission of the trade value and no minimum fee | IRESS Trader and IRESS Investor |
*Unless you generate at least AUD 150 commission per month, or maintain AUD 50,000 balance
**Unless you generate at least AUD 50 commission per month
For the purpose of this review, we used the Raw account on MetaTrader.
If you open a forex account, you can convert it to an Islamic Account. This is a swap-free account, because instead of swaps, a so-called administration fee is charged.
Another great feature is the possibility to open sub-accounts. It means that you can assign different base currencies to each account, for instance, by opening a USD, a EUR and a GBP sub-account.
How to open your account
The account opening process is easy and fully digital. It took us roughly 10-15 minutes to complete, and our account was approved on the same day.
Let us guide you through FP Markets’s four-step account opening process:
- Enter your name, email address and country of residence
- Provide further information about yourself, such as your date of birth, address and occupation
- Select the account type, trading platform and base currency
- Fill out a brief questionnaire to demonstrate your understanding of various financial products
Deposit and withdrawal
Account base currencies
Compared with other brokers we tested, FP Markets has a wide selection of base currencies. You can choose from the following account currencies:
| EUR | GBP | USD | AUD |
| CAD | SGD | HKD | JPY |
| NZD | CHF |
This account currency selection is fairly competitive when measured against similar brokers.
| FP Markets | IC Markets | Pepperstone | |
|---|---|---|---|
| Number of base currencies | 10 | 10 | 9 |
Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don’t have to pay a conversion fee.
A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.
Deposit fees and options
During our review, we found that FP Markets doesn’t charge deposit fees in most cases. You can choose from many options when it comes to funding your account. FP Markets keeps up with its competitors in this field.
| FP Markets | IC Markets | Pepperstone | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | Yes |
| Electronic wallets | Yes | Yes | Yes |
The list of electronic wallet options is quite impressive:
| Neteller | Skrill | China Union Pay |
| BPay | PoliPay | Fasapay |
| Ngang Luong | PayTrust | PayPal |
A bank transfer can take several business days, while payment with a credit/debit card is instant.
You can only deposit money from accounts that are in your name.
FP Markets review – Deposit and withdrawal – Deposit
In a slight annoyance, FP Markets’s client portal logged us out several times when we were trying to make a deposit.
FP Markets’s deposit fees may vary based on the trading platform and the way you want to fund your account.
| Deposit method | MetaTrader platforms | IRESS platforms |
|---|---|---|
| Domestic bank transfer Bank of China Online Pay BPay PoliPay PayTrust88 Fasapay Ngang Luong Interac Dragonpay | Free | Free |
| International bank transfer | AUD 12.5 | AUD 12.5 |
| Credit Card | Free | 1.6% for deposits in AUD 3.18% for any other currency |
| Neteller | Free | 4.0% |
| Skrill | Free | 4.0% |
| PayPal | Free | 2.0% |
| Broker to broker* | Domestic: free International: AUD 25 | Domestic: free International: AUD 25 |
*This means you can deposit your funds from another broker to FP Markets.
FP Markets withdrawal fees and options
FP Markets charges a withdrawal fee, except for domestic bank transfers and withdrawals to credit cards.
You can use bank transfer, credit cards, and electronic wallets for withdrawal. The same electronic wallets are accepted for withdrawals as for deposits, except PoliPay, PaySec, and BPay.
| FP Markets | IC Markets | Pepperstone | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | Yes |
| Electronic wallets | Yes | Yes | Yes |
| Withdrawal fee | $0 | $0 | $0 |
Withdrawal fees also vary based on the method you want to use.
| Withdrawal method | Withdrawal fee |
|---|---|
| Credit/debit card (MT4/MT5/IRESS) | Free |
| International bank transfer | AUD 10 |
| Domestic bank transfer | Free |
| Neteller | 2%, maximum $30 per $45,000 transaction |
| Skrill | 1% + country fees (if applicable) |
| Fasapay | 0.5% |
| PayTrust88 | 1.5% |
| Ngan Luong | 1,000 VND +1% |
| PayPal | MT4/MT5: free IRESS: 2% |
| Bank of China Online Pay | $18 |
| Broker to broker* | Domestic: free International: AUD 25 |
*This means you can withdraw your funds from FP Markets and transfer it to another broker.
How long does it take to withdraw money from FP Markets? We tested withdrawal by credit card and it took 1 day.
You can only withdraw money to accounts that are in your name.
How do you withdraw money from FP Markets?
- Log in to the ‘Client Area’
- Go to ‘Funding’ and then ‘Withdrawal’
- Select the method and amount of withdrawal
- Initiate the transaction
Web trading platform
| Trading platform | Score | Available |
|---|---|---|
| Web | 2.8stars | Yes |
| Mobile | 3.8stars | Yes |
| Desktop | 3.4stars | Yes |
FP Markets doesn’t have an in-house developed trading platform. It uses third-party trading platforms, which differ in the range of tradable products, platform fees and minimum deposits.
| MT4 / MT5 | IRESS Viewpoint / Trader / Investor | |
|---|---|---|
| Recommended for | Forex traders looking for more sophisticated research tools | Stock traders seeking more sophisticated research tools |
| Tradable products | Forex, commodity CFD, stock index CFD | Stock CFD, real stock, forex, commodity CFD, stock index CFD |
| Monthly platform fee | Free | IRESS Investor is free; AUD 55 for IRESS Viewpoint and Trader* |
| Minimum deposit | AUD 100 | AUD 1,000 |
| Web trading platform offered | Yes | Yes |
| Mobile trading platform offered | Yes | Yes (IRESS Mobile) |
| Desktop trading platform offered | Yes | No |
*Unless you generate AUD 200 in commissions per month or maintain a AUD 50,000 balance
In this review, we tested the MetaTrader 4 trading platform because this is what most clients would use and also because it’s free of charge. However, MetaTrader 5 is available as well.
MetaTrader 4 is available in an exceptionally large number of languages.
| Arabic | Bulgarian | Chinese | Croatian | Czech | Danish |
| Dutch | English | Estonian | Finnish | French | German |
| Greek | Hebrew | Hindi | Hungarian | Indonesian | Italian |
| Japanese | Korean | Latvian | Lithuanian | Malay | Mongolian |
| Persian | Polish | Portuguese | Romanian | Russian | Serbian |
| Slovak | Slovenian | Spanish | Swedish | Tajik | Thai |
| Traditional Chinese | Turkish | Ukrainian | Uzbek | Vietnamese |
Look and feel
FP Markets’s web trading platform offers great customizability. You can easily change the size and the position of the tabs.
On the other hand, the platform feels outdated, and some features are hard to find. For example, it took us a while to figure out how to add an asset to the watchlist.
FP Markets review – Web trading platform
Login and security
FP Markets provides only one-step login on the MT4 web platform. Two-step authentication would be more secure.
Search functions
The platform’s search functions are average. Assets are grouped into categories that you can browse, but we missed the usual search function where you can simply type in the asset’s name.
FP Markets review – Web trading platform – Search
Placing orders
Only the basic order types are available. You won’t find sophisticated order types like ‘One cancels the other’.
- Market
- Limit
- Stop
- Trailing stop
Trailing stop orders are available only on the MT4 desktop platform.
If you are not familiar with order types, read this overview.
There are also order time limits you can use:
- Good ’til canceled (GTC)
- Good ’til time (GTT)
FP Markets review – Web trading platform – Order panel
Alerts and notifications
You can’t set alerts and notifications on the FP Markets web trading platform. This feature is available only on the desktop trading platform.
Portfolio and fee reports
FP Markets has clear portfolio and fee reports. You can easily see your profit-loss balance and the commissions you paid. These reports can be found under the ‘History’ tab, although we didn’t find a way to download them.
Mobile trading platform
In January 2021, FP Markets announced a new mobile app, available for both iOS and Android. It is a well-designed, easy-to use application available to anyone with MetaTrader login credentials. In this review, however, we cover MetaTrader 4, as we feel it is more popular among clients at the moment.
Similarly to the web trading platform, FP Markets offers MetaTrader 4, MetaTrader 5 and IRESS Mobile as mobile trading platforms, for both iOS and Android. In this review, we tested the MetaTrader 4 mobile trading platform for Android.
After you download the MT4 mobile trading platform, you have to access the FP Markets-Live server.
Just like on the web trading platform, you can choose from many languages on the mobile platform. Changing the language is a bit tricky on Android devices, though, as you can do it only if you change the default language of your mobile.
| Arabic | Chinese (Simplified) | Chinese(Traditional) | Czech | English |
| French | German | Greek | Hindi | Indonesian |
| Italian | Japanese | Korean | Malay | Polish |
| Portuguese | Portuguese (Brazil) | Russian | Spanish | Thai |
| Turkish | Ukrainian | Vietnamese |
Look and feel
FP Markets has a great mobile trading platform, we really liked its design and user-friendliness. You will easily find all the features.
FP Markets review – Mobile trading platform
Login and security
Similarly to the web trading platform, FP Markets provides only one-step login for its mobile app. Two-step login would provide an added layer of security.
There is also no fingerprint or Face ID authentication. Adding this feature would make the login process more convenient.
Search functions
The mobile app’s search functions are good. You can search by typing the name of the product or by navigating the category folders.
FP Markets review – Mobile trading platform – Search
Placing orders
You can use the same order types and order time limits as on the web trading platform.
FP Markets review – Mobile trading platform – Order panel
Alerts and notifications
You can’t set alerts and notifications directly, although you can set up mobile push notifications on the desktop trading platform. It would be much easier if you could set these notifications on the mobile app itself.
Desktop trading platform
FP Markets offers MetaTrader 4 as a desktop trading platform.
It has the same design, is available in the same languages, offers the same order types (plus Trailing Stop), has the same search functions, and offers the same portfolio and fee reports as the web trading platform.
The major difference is that you can set alerts and notifications on the desktop trading platform, in the form of mobile push and email notifications. To set email or mobile notifications, you have to add your email address and mobile MetaQuotes ID (you can find it in the MT4 app’s settings). You can do this by going to ‘Tools’ then ‘Options.’
FP Markets review – Desktop trading platform
Markets and products
FP Markets has a great product portfolio in three asset classes:
- Forex instruments
- CFDs (especially on stocks)
- Stocks traded only on the Australian Securities Exchange
FP Markets employs a mix of order routing practices. While forex products are traded via ECN (Electronic Communication Network), CFD products use different channels in the form of DMA (Direct Market Access). The advantages of DMA CFDs are lower spreads and faster execution, because orders are passed directly to the underlying market without any intermediate participant, such as a dealer or a market maker.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.70% 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.
FP Markets beats its immediate competitors with its strong stock CFD offering. Its forex pairs selection is also fairly competitive, but its selection of stock index CFDs, commodity CFDs and cryptocurrency CFDs is much less impressive. Unfortunately, ETF CFDs and bond CFDs are not available.
You can also trade futures CFDs for global stock indices.
| FP Markets | IC Markets | Pepperstone | |
|---|---|---|---|
| Currency pairs (#) | 63 | 61 | 62 |
| Stock index CFDs (#) | 14 | 25 | 25 |
| Stock CFDs (#) | 9,000 | 2,100 | 1,400 |
| ETF CFDs (#) | – | 40 | 110 |
| Commodity CFDs (#) | 8 | 22 | 32 |
| Bond CFDs (#) | – | 10 | – |
| Futures CFDs (#) | – | – | – |
| Cryptos (#) | 4 | 23 | 21 |
The UK’s Financial Conduct Authority (FCA) banned the sale of crypto-derivatives to UK retail consumers starting January 2021.
The default leverage level of products can be changed on the MetaTrader platforms, which is great if you want to lower the risk of your trade. Unfortunately, you can’t change the default leverage on the IRESS platforms.
Always be careful with forex and CFD trading, as preset leverage levels may be too high.
Stocks
FP Markets offers real stocks, but only those listed on the Australian Securities Exchange.
| FP Markets | IC Markets | Pepperstone | |
|---|---|---|---|
| Stock markets (#) | 1 | – | – |
| ETFs (#) | – | – | – |
Social Trading
FP Markets introduced its social trading service in 2021. It is a copy trading feature: you can either be a Copier or a Provider. As a Copier, you can choose among traders to follow based on their ratings. As a Provider, you can make yourself available for other traders to follow.
Research
Basic FP Markets research tools can be found on the trading platforms, while some other useful tools are available in a package called Trader Toolbox. In this review, we tested the research tools available on MetaTrader 4.
The FP Markets website provides research tools in Arabic, Chinese, English, French, German, Indonesian, Malaysian, Portuguese, Spanish and Vietnamese. Meanwhile, research functions on MT4 are available in the same languages as the trading platform itself.
Trading ideas
FP Markets provides trading ideas through a blog page called Traders Hub. These trading ideas are grouped into technical and fundamental analysis. We liked the quality of the trading ideas; the analyses are up to date and a new piece is published almost every day.
Autochartist is another tool that can be used via the MetaTrader platforms. Autochartist recognizes charting patterns and it gives an idea about the trading direction based on these patterns. To download this tool, you have to log in to the client area and then click ‘Trading Tools’.
FP Markets review – Research – Recommendations
Fundamental data
In the Trader Toolbox, you can view historical data for basic assets; some limited historical macroeconomic data are also available ein the Economic Calendar (see below). Besides this, we did not find any other kind of fundamental data.
Charting
FP Markets has average charting tools. You can use 31 technical indicators along with other editor tools, like trendlines or Fibonacci retracement.
On the negative side, the design is outdated and some features are hard to use. For example, it wasn’t easy to figure out how to remove an indicator from the chart.
FP Markets review – Research – Charting
News feed
FP Markets has discontinued its previous news feed. It now only offers a blog page (Traders Hub) that includes daily market wraps, in addition to regular technical and fundamental analysis. You can still stay on top by reading these high-quality daily reports; some also include a table showing basic information such as opening/closing prices, price changes, etc.
There is an Economic Calendar under the ‘Resources’ menu. Events are neatly displayed in chronological order; if you click on an entry, you can read a short explanation of the indicator and view some historical data (if applicable). However, you cannot filter or sort entries according to country or indicator.
FP Markets review – Research – Economic calendar
Other research tools you may find useful
There is a suite of analytical tools offered in the Trader Toolbox. For accessing the Toolbox, you need to deposit at least AUD 1,000 or equivalent in another currency. As soon as you have qualified for the tools, you will receive an email with a link, where you can download and run the Toolbox.
Just to mention a few tools in the Trader Toolbox:
- Alarm Manager: allows you to set up more sophisticated alerts, like a news alert.
- Correlation Matrix: shows the correlation between chosen assets.
- Sentiment Trader: shows the distribution of buyers and sellers.
FP Markets review – Research – Trader Toolbox
Customer service
You can contact FP Markets via:
- live chat
- phone
One of the greatest features of customer support at FP Markets is the impressive number of languages you can choose from: Arabic, Chinese, English, French, German, Greek, Indonesian, Italian, Malaysian, Portuguese, Russian, Spanish, Thai and Vietnamese.
FP Markets’s phone support is fast. We called them twice, and each time it took about half a minute to connect. We had mixed experience regarding the helpfulness of phone support, though. During our second call, the agent pointed us to the webpage instead of answering our questions directly.
FP Markets offers great email support, providing quick and relevant answers. We contacted them several times and got answers to all our emails within a few hours.
Live chat was fast and we got relevant answers.
Customer support is now available 24/7 at FP Markets.
FP Markets review – Customer Service
Education
At FP Markets, you can learn in the following ways:
- Demo account
- Platform tutorial videos
- Trading glossary
- High quality e-books
- Webinars
Educational tools are well organized under the ‘Resources’ toolbar’s ‘Education’ menu. Webinars are the latest addition to FP Markets’s education arsenal, covering various topics such as technical and fundamental analysis as well as MT4/MT5 trading tutorials.
FP Markets review – Education
Safety
Is FP Markets regulated?
Yes, it is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority of St. Vincent and the Grenadines.
FP Markets is based in Australia and was founded in 2005.
Is FP Markets safe?
To be certain if a brokerage is safe, you should check
- how you are protected if something goes wrong
- what the background of the broker is
How you are protected
FP Markets operates several subsidiaries. This matters because the amount of investor protection you’re eligible for differs from entity to entity.
| Country of clients | Protection amount | Regulator | Legal entity |
|---|---|---|---|
| Australia | No protection | Australian Securities and Investments Commission (ASIC) | First Prudential Markets Pty Ltd |
| EU | €20,000 | Cyprus Securities and Exchange Commission (CySEC) | First Prudential Markets Ltd |
| Rest of the world | No protection | Financial Services Authority (St. Vincent and the Grenadines) | First Prudential Markets LLC |
FP Markets does not provide negative balance protection for clients under ASIC and the Financial Services Authority of St Vincent and the Grenadines, though it does so under CySEC.
Background
FP Markets was established in 2005. The longer the track record of a broker, the more proof we have that it has successfully survived previous financial crises. We consider 16 years of operation a solid track record.
FP Markets has no banking background and is not listed on any stock exchange; both would provide an added layer of security and transparency.