FP Markets Review: Safe or a Scam Broker? What We Found Out

The Iress comes with a lot of bells and whistles for stock and commodities traders who need to compare price actions of different asset classes to find trading opportunities. But for the dedicated Forex accounts, it only designated the MetaTrader 4 & 5 platform. Also, they provide a weekly market analysis for free and a newsletter service, which we found very helpful for beginner traders. As a client, you can leave your algorithms running on the broker provided VPS and auto trade the market without worrying about keeping your home computer online 24/7. But the good news is that FP Markets has no minimum spread set for the Raw account and during highly liquid market conditions, you will often find absolutely Zero pips of spreads on certain currency pairs. By contrast, the Raw account is an ECN account that charges $3.5 per standard lot ($100,000) of trade.

FP Markets Account Conditions Score

Many of the disciplines that they talk about are still applicable in today's markets. Unfortunately, they have not updated these since 2017 so some of the market analysis may be stale. Up until 2017, they also used to run a number of daily market updates on these videos.

FP Markets Review: Key Features, Pros, And Cons

The MetaTrader 4 and 5 both come with mobile trading apps from the software vendor, MetaQuotes. You can download eBooks, Video Tutorials, and full trading courses on their portal. For a reputed broker, we found $100 AUD to be very reasonable as it translates into roughly $70 USD. In case of an unlikely liquidation of FP Markets, you can claim your equity via respective regulatory processes, depending on which jurisdiction you have opened your account in.

Is FP Markets Safe to Trade With?

Once users are up to speed on a demo, they can easily switch to a live account. The account opening process is fully digital and can be completed via the website in less than 10 minutes. For  Iress users, Retail and Professional account types are offered. MT4/MT5 users can choose between the spread-based Standard account and the commission-based Raw account. FP Markets does not apply any fees for deposits/withdrawals, however, in some case,s the payment providers may apply fees. Likewise for withdrawals, the range of methods, speed of processing, and absence of fees are better than the industry average.

Share accounts through IRESS require a minimum deposit of $1,000 AUD. Multi Account Manager (MAM) or Percentage Allocation Management Module (PAMM) accounts are also available. FP Markets provides a variety of account types tailored to different trading needs and experience levels. $100 AUD (or equivalent) deposit for Standard and Raw accounts. This regulation framework provides traders with a level of security and transparency, although specific restrictions may apply depending on the trader's location. FP Markets is regulated by top-tier authorities, including the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), ensuring compliance with industry standards.

• They offer a comprehensive trading experience across various asset classes, including Forex, CFDs, Indices, Metals, Commodities and Bonds.
• Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, clients or contributors, is provided as general market commentary and does not constitute investment advice.
• As a multi-regulated broker, FP Markets holds licenses from top authorities including ASIC, CySEC, and FSCA.
• FP Markets also does offer their traders the MT5 platform.
• FP Markets is a large Australian broker that allows clients from around the world to trade numerous different assets and markets.

FP Markets Non-Trading Fees

Both platforms are excellent for technical analysis of price movements and are at the forefront of the industry for creating automated trading strategies. And the Premier account has no minimum flat broker fee but charges 0.08% of trade size instead. For the Platinum account, the broker fee is $9 or 0.09% of trade value, whichever is greater. On the Standard account, there is a minimum broker fee of $10 or 0.1% of trade size, whichever is greater. It is regularly updated and delves into fundamental analysis, technical analysis, and general trading knowledge, making it suitable for traders of all experience levels.

Regulation tiers

Its low-latency execution, deep liquidity, and tight spreads (from 0.0 pips) set it apart from many brokers offering limited assets or slower trade execution. With 10,000+ instruments and award-winning platforms, it delivers a trading experience that’s scalable, transparent, and purpose-built for traders of all levels. FP Markets has been redefining online trading since 2005 by offering tight spreads, lightning-fast execution, and cutting-edge platforms. This is about standard for ECN accounts at other brokers. These cover most of the same markets that the Forex accounts do accept that it is done on a more advanced trading platform (see below). You also have a pretty limited range of commodities to trade and can only trade equity indices on these standard forex accounts.

Do I need multiple accounts to trade different instruments?

Opening an account in the UK places traders under the jurisdiction of the FSA (St. Vincent and the Grenadines), allowing UK traders to take advantage of the maximum leverage available. FP Markets allows traders to open positions starting with a minimum trade size of 0.01 lots (micro lot) or 1 unit on both their Standard and Raw account types. FP Markets provides a Direct Market Access (DMA) model, allowing Australian clients to trade share CFDs via the IRESS platform. The $6 round-turn commission per standard lot with tight spreads may suit those who are looking to scalp or day trade. It offers a simple fee structure and easy access to the market.

Available Assets

FP Markets has included a range of other helpful tools that could help improve your trading experience. From these, you can also drill down into the more specific markets that you would like to cover. They take a look at the markets from both a fundamental and technical perspective. These guides will help your ongoing trading and analysis. If this was not enough, they also have a more involved online trading specific Ebook course.

• The depth of market feature shows incoming liquidity from liquidity providers.
• 17 Metals including Gold, Silver, Platinum, Palladium and other base metals.
• Having said that, there are some regions where they restrict traders.
• FP Markets prioritises client support through accessible and professional service channels.

5 Energy CFDs including WTI Oil, Brent Crude and Natural Gas. 17 Metals including Gold, Silver, Platinum, Palladium and other base metals. These can be traded through IRESS and Direct Market Access (DMA). More than 10,000 stock CFDs are available to FP Market clients based in Australia.

Brokers

Breaking news from Dow Jones and Reuters is also available via the TradingView platform. FP Markets offers a steady flow of news and analysis via the Traders Hub section of the website. Scalpers can also keep costs to a minimum via the Raw Spreads account. Myfxbook AutoTrade allows you to copy a wider selection of systems directly into your MT4 account. From MT4, you can automatically copy trades of MetaTrader signal providers. Beginners can also get actionable trade ideas from the Traders Hub research section and signals from Autochartist.

Overall, cTrader offers many of MetaTrader’s advanced features within a more modern, well-designed, and user-friendly interface. Additionally, a news feed and economic calendar are built into the platform. With 26 time frames, 4 chart types, 76 indicators, and more than 10 drawing tools, charting via the cTrader desktop platform is robust. The depth of market feature shows incoming liquidity from liquidity providers. It is designed to replicate an institutional trading environment, with features like Level 2 DoM (Depth of Market). Still, MT4 is a highly versatile platform that outperforms many competitors.

Insights from Real Traders

So, there appears to be a reasonable range of Forex pairs for you to trade. They are connected directly with these providers as FP Markets uses the Equnix datacentre in New York to locate their trading servers. Finally, they use some of the top liquidity providers in the industry including the likes of JP Morgan, Goldman Sachs, HSBC and Citibank. FP Markets has a number of other security protocols and reporting standards that they adhere to. Regulation by ASIC is considered to be one of the most secure in the world and there are a number of protections that the trader is afforded.

These are available in both iOS and Android and are one of the most downloaded trading apps in the world. So, if you need fund your account, withdraw or make any changes in the admin panel then you will have to do this through their online portal. Unfortunately, there is no app that will allow you to administer your account at FP Markets. They cost $55 a month however, you can earn this back as a rebate if you trade a certain volume on the exchange (see above). The IRESS investor is the entry level platform at FP Markets.

Firstly, all of the client funds are stored in those segregated accounts at the National Bank of Australia. Having said that, there are some regions where they restrict traders. FP Markets takes traders from a number of different regions and countries. This allows them to provide a highly refined trading experience with near instant execution and razor thin margins.

This is mainly because of the shortcomings of mobile trading including higher latency and less functionality. As with the MetaTrader platforms, IRESS is available on PC, Mac, through your web browser or on your mobile. This is more for those traders who employ a buy-and-hold strategy and don't need the latest charting and data feeds. There are three different types of platform and they are the IRESS Investor, the IRESS trader and finally the IRESS viewpoint. This is the flagship trading platform available at FP Markets. You are better suited to trade on this platform than on the MT5 for now.

They offer 12 cryptocurrency CFDs including the major cryptocurrencies such Bitcoin, Ethereum, Ripple etc. Additionally, 8 indices can be accessed through Direct Market Access (DMA), such as the Nasdaq 100 E-Mini, DJIA E-Mini (CBOT), Mini SPI 200, Nikkei 225 (CME), DAX Index, SPI 200, S&P 500 E-Mini and Euro Stoxx 50. They offer 15 Index CFDs, including popular choices like the US100, US500 and UK100. We transferred funds from the account back to our debit card, and it was https://forex-review.net/fp-markets/ completed in under 24 hours.