FP Markets Review

FP Markets is an Australian broker founded in 2005 and regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).

The broker is headquartered in Sydney with an additional entity registered in Saint Vincent and the Grenadines. Its clients span the globe, from India and Malaysia to Europe and the UK.

The award-winning broker offers over 13,000 products, including forex, share CFDs, indices, commodities, and cryptocurrencies. Clients of all levels can choose between ECN or DMA pricing with a range of tools at their disposal.

Account Types

You can choose between a Standard or Raw account in the MetaTrader platforms. Alternatively, you can open a Standard, Platinum, or Premier account in the Iress platforms.

The Standard and Raw accounts are better suited to beginner traders, with only a A$100 minimum deposit (or currency equivalent), which is reasonably low if compared to IC Markets, for example. The maximum leverage is 1:500 and the Standard account is commission-free, whilst the Raw account charges $3.

The IRESS accounts are designed for more professional traders, with minimum deposits between A$1,000 and A$50,000. Commission per lot is A$10 minimum plus 0.1% for the Standard account, A$9 minimum plus 0.09% for the Platinum account, and no minimum plus 0.08% for the Premier account. Equity CFD margin requirements start from 3% across all three accounts.

Islamic swap-free options are also available, as well as PAMM/MAM trading accounts.

Markets

There are six main markets available at FP Markets:

• Forex – Over 60 currency pairs are available, including majors, minors and exotics
• Cryptocurrencies – Trade on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple
• Share CFDs – Access over 10,000 shares across four continents
• Indices – Access 12 global indices, including the FTSE 100 and NASDAQ
• Commodities – Trade on commodity CFDs, including Brent Crude Oil
• Precious metals – Trade on gold and silver in spot markets

The broker has also introduced a detailed share CFD directory with a dedicated page for each of the stock CFDs offered. This useful resource contains information on the company profile, share price, relevant news and more, informing trading decisions.

Trading Platform Reviews

MetaTrader 4

The MetaTrader 4 (MT4) platform is one of the most powerful platforms and a top choice among traders of any level. FP Markets has partnered with some of the leading forex liquidity providers to ensure fast execution and reliability. Enjoy automated trading and advanced analysis features, including:

• 50+ pre-installed indicators for technical analysis
• 9 time-frames, 3 charts, and 24 graphical objects
• Access to Expert Advisors (EAs)
• 4 pending stop order types
• Real-time pricing
• One-click trading
• Market Watch

MT4 is compatible with Windows 7 or higher PCs and Mac OSX and can be downloaded from the broker’s website upon registration.

MetaTrader 5

For the ultimate professional experience, the MT4 successor offers superior features, charting capabilities, signals, plus automated and copy trading functions. Traders also enjoy an improved strategy tester for greater precision with trading robots. Advanced features include:

• 80+ technical indicators for technical analysis
• 21 time-frames and 44 graphical objects
• Exchange trading and scalping allowed
• Up to 100 charts open simultaneously
• 6 pending stop order types
• Thousands of stock CFDs
• Advanced Market Depth
• Economic calendar

MT5 is also compatible with Windows and Mac PCs and can be downloaded from the broker’s website.

MetaTrader WebTrader

Trade from anywhere with an internet connection with the flexible WebTrader, offering the same functionality and execution capabilities as the desktop platform. Without zero installation required, WebTrader allows for one-click trading, real-time price quotes, the complete suite of tools, plus data synchronisation across all platforms.

You can access the WebTrader straight from the broker’s website, using any major internet browser.

IRESS

FP Markets also offers three additional trading platforms: IRESS Viewpoint, IRESS Trader, and IRESS Investor. The IRESS suite is a top-rated DMA (Direct Market Access) execution system. Though the platforms are similar, IRESS Viewpoint is the updated version of IRESS Trader while IRESS Investor is designed for investors who wish to use hedging strategies.

All three platforms are packed with technical indicators, including trend, momentum and volatility indicators such as Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI) and Bollinger Bands.

Features across all three systems include:

• 50+ technical indicators and 50+ charting tools
• Market Depth and real-time quotes
• Trade pre and post market auctions
• Advanced order management
• Access to market heat map
• Live streaming news
• Customisable alerts

Spreads & Commissions

Spreads on major pairs such as the EUR/USD start from 0 pips, averaging around 0.09 with the Raw account and about 1.19 with the Standard account. Indices are equally competitive, starting at 0.31 for the FTSE 100 on both accounts.

For precious metals, spreads average 0.13 pips with the Raw account for gold and around 0.01 for silver. These are competitive when compared to the likes of Pepperstone and IG.

Fees are built into the spread with the Standard MetaTrader account, however commission rates with the IRESS accounts are more complex. A full breakdown can be found on the brokerage’s website.

Other fees to be aware of include a $55 per month subscription fee for IRESS Trader/Viewpoint, as well as swap rates on overnight positions. A useful swap rate calculator is available on the website.

Leverage

At FP Markets, you can leverage trades up to 1:500 across both the Standard and Raw accounts. A margin calculator can be found on the broker’s website, as well as a useful margin table for global exchanges including the ASX and LSE.

Details of the margin call process are also available on the broker’s website.

Payment Methods

Payment Methods that can be used:

• VISA/MasterCard
• Bpay
• UnionPay
• Poli Pay
• Paytrust88
• Skrill
• Neteller
• FasaPay
• Bank Transfer / Bank Wire (Domestic and International)
• PayPal
• Ngan Luong
• Online Pay
• Broker to broker

Deposits

Depositing funds is fast and easy with FP Markets, who offer over 10 flexible funding options with zero fees. Available methods include credit and debit cards, bank transfer (Domestic and International), BPay, Poli, PayPal, Neteller, Skrill, PayTrust, Ngan Luong, FasaPay, Online Pay, and Broker to Broker.

FP Markets does not charge any deposit fees and will cover internal bank fees (less than $50) for international deposits over $10,000.

Deposit times are generally instant for those using the MetaTrader platforms, except for bank transfers, BPay, and broker to broker transfers, which take up to 1 business day. All methods take up to 1 business day if using the Iress platform.

Withdrawals

You can withdraw funds from the client area via the same methods, with fast withdrawal times of up to 1 business day.

There is no minimum withdrawal but there are fees to consider when collecting revenue, including A$10 for international bank wire, $18 for Online Pay, 1,000 VND + 1% for Ngan Luong, and A$25 for international broker to broker transfers. Neteller charges 2%, Skrill 1%, FasaPay 0.5%, PayTrust 1.5% and Paypal 2% (if using IRESS). Card payments and Australian bank wire transfers are free.

Details of the withdrawal policy are available from the Trading Info area.

1:500

FP Markets combines state of the art technology with ECN pricing and a huge product offering to create a genuine destination for all types of traders. It provides some of the most advanced platforms for all levels of trader, including MetaTrader 4 and MetaTrader 5, which can be accessible through WebTrader and mobile apps, as well as Iress, all of which can be accessed through WebTrader, as well as apps for iOS and Android.

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