FP Markets Broker | Forex broker review 2020
Table of Contents
Established in 2005, FP Markets is a world leading online Bitcoin, Forex and CFDs broker. The Regulated brokerage is owned by an Australian based company called First Prudential Markets Pty Ltd. Detailed review & ratings must read our FP Markets review for 2020 |
- Website: www.fpmarkets.com
- Founded: 2005
- Company: First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354).
- Headquarters: Level 5, Exchange House 10 Bridge St Sydney NSW 2000, Australia
- Regulation: ASIC
| International offices | Shanghai, Beijing |
| Broker Type | ECN/STP • STP |
| Broker Status | Independent Broker |
| Accept U.S Clients | No |
| Live Chat | Yes |
| Phone | +61 2 8252 6800 |
| [email protected] | |
| Website Languages | Chinese, Spanish. English |
FP markets is today one of the top Forex, CFD and Bitcoin brokers in the ever-growing STP/ECN retail Trading arena.
This company has some history as it was established as early as 2005.
FP markets is owned by First Prudential Markets Pty Ltd, which is an Australian based company with offices in Sidney, Beijing and Shanghai.
At this moment FPmarkets is regulated by ASIC and operates with the license number 286354 issued by the Australian Financial Services. They are currently in the process of acquiring the license for Cysec which will allow them to enter the European market and give the traders there the opportunity to trade with this brokerage.
The Company provides services to traders from all over the World while their largest base is still Australia and surrounding Asian countries. Therefore the second language is Chinese and third Spanish but while they enter now the European market is expecting more language are to follow.
FP markets Awards & Promotions
FP markets has collected till today over 35 industry awards for their pursuit and executions of excellence. especially their customer relations and the manner and period they are dealing with trader related issues is one of the best in the industry.
The offer some promotions but no competitions and contests. Their promotions are accessible for the new as well as the existing clients.
The promotions and ongoing offers they are running at this moment will always be displayed at the FAQ page instead of their dashboard or homepage.
FP markets Assets
This is at the same time one of their most noticeable features.
This broker has a huge amount of trad-able assets .
When you open a CFD account with just $1,000 it will give you access to 10,000 financial instruments to trade.
These range from forex pairs, ETFs, indices, equities, futures contracts until commodities across multiple global markets.
FP markets Offers Bitcoin Cryptocurrency Trading
The opportunity for cryptocurrency trading with the Bitcoin underlying asset has been introduced by FPmarkets to the MT4 forex account with leverage up to 10:1.
When trading BTC traders don’t own the actual Bitcoin asset, but predict price movements of the underlying Bitcoin asset against other major currencies such as the USD ( currently only outside the EU till their regulation with Cysec comes through).
FP markets Trading Platforms
IRESS trader
The underlying asset prices are shown on the powerful, web-based IRESS trader ( find here a guide about this platform). This platform is known to be the most advanced CFD trading software in the industry as it will enabling Traders and investors to execute trades in multiple products on up to 8 global financial exchanges.
Very recently in early 2017, IRESS launched its upgrade to the Iress trader platform built on efficient HTML5 code. The new platform provides multi-product execution and access to level 2 exchange data as standard. The new fluid and intuitive interface design coupled with major upgrades to charting and analytic tools cements Viewpoint as the future of trading systems.
IRESS trader Key Features:
- Ability to set alerts on news and price levels
- Ability to set alerts on trade execution, news and price levels
- market heat map
- Real-time financial news
- Access to trade pre and post-market auctions
- Advanced charting
- Advanced order management
- Compatible for Windows or MAC
- Compatible, on iPhone, iPad and Android devices
- Customize and save multiple watch lists
- Enhanced charting
- Fast and easy order placement
- High performing tools
- Highly customizable interface
- HTML 5 technology supported on all major web browsers
- Live dynamic pricing
- Module linking
- Track portfolio and holdings
- Transparent Pricing
FP Markets Metatrader 4
Besides this Trading Platform, they offer access to the one and only Metatrader 4 trading platform.
The FP Markets Metatrader 4 platform is designed to give traders an advantage in the dynamic world of Forex trading. A true ECN trading environment with advanced charting, real-time quotes, detailed news and insights and a suite of automated trading options (EA’s). traders are able to trade with leverage up to 500:1 and spreads from as low as 0.0 pips.
Metatrader 4 Platform Features
- Streaming Live Prices on Live and Demo platforms
- Market Watch and Multiple Chart Windows
- Numerous Order types
- Expert Advisor and Indicator tools for trading
- One-Click Trading
- Multiple add-on platforms to access your trading anywhere, anytime
- Client Terminal security communicates over a 128bit Secure Encryption
- Alerting features
- Fully customisable desktop, including background, font and chart colours
- Multiple Language options changeable at a click of a button.
FP Markets Metatrader 5
One of the most technologically advanced trading platform. The FP Markets MT5 offers modern traders access to a world of opportunity.
MT5, the MetaTrader platform is the evolution of Metatrader 4 (MT4). Having invested in continuous development, testing and enhancements the Metatrader Platform 5has been established as an extended next-generation trading platform.
MT5 offer traders the opportunity to trade an extended number of instruments from a variety of asset classes. Traders are able to trade using different settings from the same account and more importantly the same interface.
the key features that made MT4 the most sought after and used trading platform, not only been maintained on the upgraded MT5 but have also been improved allowing traders to trade on a whole different level.
Being a truly multifunctional platform, MT5 includes all-new features which have been developed using state of the art technology.
Trade Forex, Indices, Commodities & Bitcoin on the FP Markets MT5 platform
Trading Conditions
- Ultra-Low Spreads from 0.0
- 67+ Trading Instruments
- $200 Initial Deposit
- Leverage up to 500:1
Metatrader 4 Platform Features
- Trade via your PC, Web-trader, Mobile or Tablet
- One-Click Trading
- Display Currency Market Depth
- 6 pending orders types including Buy Stop Limit and Sell Stop Limit
- 80+ inbuilt indicators & graphical objects
- 21 timeframes
- Inbuilt Economic Calendar
- Improved strategy tester for EAs
- Hedging allowed
FP Markets Account Information
$100,000 Demo Account
Forex traders are given the potentially valuable opportunity of testing the MetaTrader4 trading software with a demo account and $100,000 of virtual funds.
Practice trading is completely risk-free and provides a practical way to learn about the tools and charts on the MT4 platform as well as the quality of this Broker.
All that FPmarkets requires for opening a demo account is a name, email address, phone number and country from anybody requesting a demo account.
Islamic Account FP markets
FP Markets does offer Islamic accounts but Swap-free Islamic accounts are available at FP markets on request and only after setting up one of the regular MT4 or MT5 Forex accounts.
When your request is approved they will convert your regular account to an Islamic account. This means that the account becomes free of swap charges or swap credits on trading positions remaining open overnight. Keep in mind thou that positions remaining open over two consecutive days are charged an administration fee by FPmarkets.
there are 2 Forex Accounts :
| Standard | ECN RAW | |
| Minimum Opening Balance | $ 200 AUD or equivalent | $ 1000 AUD or equivalent |
| Spreads | From 1.0 pips | From 0.0 pips |
| Instruments | 50+ FX pairs, Metals, Indices, Commodities | 50+ FX pairs, Metals, Indices, Commodities |
| Maximum Leverage | 500:01:00 | 500:01:00 |
| Execution | STP-Pricing | ECN-Pricing |
| Commission per Lot | Zero | AUD $3.5 per 100,000 |
| Minimum Trade Size | 0.01 Lot | 0.01 Lot |
| EA’s | Yes | Yes |
| Mobile App | Yes | Yes |
| VPS Available | Yes | Yes |
There are 3 CFD account types.
| Professional | Platinum | Premier* | |
| Minimum Opening Balance | $1,000 | $25,000 | $50,000 |
| Brokerage Rate | $10 min, then 0.1% | $9 min, then 0.09% | No min, then 0.08% |
| Financing | RBA +3.5% | RBA +3.0% | RBA +2.5% |
| IRESS Trader & Fee | $55 inc. GST fee is waived if you generate $150 in comm/month. | $55 inc. GST fee is waived if you generate $150 in comm/month. | Platform fee is waived. |
| IRESS Investor & Fee | Free | Free | Free |
| ASX Live Data fee | $22.00ASX Inc GST fee is waived if you generate $50 in comm/month. | $22.00ASX Inc GST fee is waived if you generate $50 in comm/month. | ASX royalty fee is waived |
| ASX Delayed Data | Free | Free | Free |
| Telephone Trades& Fee | No additional charge | No additional charge | No additional charge |
| Account Description& Fee | Our professional account provides access to competitive DMA commission and margin rates with our professional trading platform options. | The platinum account offers even lower commission and financing rates on our professional trading platform. | For the professional trader, we offer no platform fees and no minimum brokerage charge. |
FP Markets Information overview
| Free Demo Account | Yes |
| Min. Deposit | $100 |
| ECN account | No |
| Account-Based Currencies | AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD |
| Maximum Leverage | 500:1 |
| Minimal Order Volume | 0.01 |
| Segregated accounts | Yes |
| Swap-free accounts | No |
| MAM/PAMM accounts | MAM, PAMM |
| Managed account | No |
| Interest on margin | No |
| Deposit/ Withdrawal Options | Neteller • Bank Wire • Debit/Credit Card • Paper Check • BPay • China UnionPay |
FP Markets Trading Conditions
| ding Platforms |
|
| Precision pricing | 5 digits |
| Type of Spread | Floating |
| Commission | AUD $3.5 per 100,000 |
| Lowest spread on EURUSD | 1 pip |
| Scalping | Yes |
| Hedging | Yes |
| Expert Advisors | Yes |
| OCO orders | Yes |
| Mobile Trading | Yes |
| Web Trading | Yes |
| Gold, Silver | Yes |
| CFDs | Yes |
| Cryptocurrency Trading | Bitcoin |
| Other Trading Instruments | Indices • Commodities • Metals • Shares |
| Promotions | Yes |
FP Markets Education and Research
FP Markets offers its customers an extensive amount and tools of free educational material for the ‘Beginners’, ‘Intermediate’ and ‘Advanced’ traders.
This includes video tutorials, webinars and online classes covering basically every aspect of trading in forex and CFD’s.
In addition, you will be able to download the trading E-Book and follow their E-Book course. Moreover, the FPmarkets dashboard, gives all traders, new and experienced, all the daily market information and analysis required to make informed trading decisions.
FP markets Payment Methods
Clients that have registered and look to fund their account can choose from a broad range of international currencies to fund their accounts.
These include, AUD, CAD, USD, JPY, CHF, EUR, GBP, SGD, HKD, CNY and NZD
Like most brokers, you will be able to use Bank wire transfers & credit cards, Visa, Mastercard and UnionPay as well as several electronic payment methods including AstroPay, Neteller and Skrill.
What not most brokers offer is that you will, in addition, be able to fund your account using BPay, or with the old fashion way of cheques.
Be Aware!!
They do charge fees for money transfers of deposits as well as withdrawals. the amount depends on the method and weather you live in Australia or not, it would be worth it to ask your account manager the costs before transferring funds as maybe there is a cheaper way to do it. everything to avoid surprises.
Last but not least!!!!
FP markets Customer Support.
This is somewhat their main selling points as not effort is spared to make this work smoothly and properly, as such they have received multiple industry awards reflecting the high level of service and overall customer satisfaction.
They offer chat service which works around the clock and you will be able to call them on their Australian or international number, send a fax or email.
the staff is knowledgeable and feels very service-oriented.
I am not sure or aware if you are able to visit the office and if they thus receive clients this way.
Disclaimer :
FP Markets recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from FP Markets can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354).
FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations.
[fts_twitter twitter_name=FP_markets tweets_count=5 cover_photo=yes stats_bar=yes show_retweets=no show_replies=no]