FP Markets Review 2024: Pros and Cons Revealed

Broker	FP Markets
Founded Year	2005
Headquarters	Australia
Regulations	ASIC, CySEC
Product Offering	Forex, Shares, Metals, Bonds, Commodities, Indices, Cryptocurrency, and ETFs
Min. Deposit	$100 AUD or equivalent
Max. Leverage	1:500
Account Types	Standard, Raw
Demo Account	✅
Islamic Account	✅
Copy Trading	✅
Trading Platforms	MT4, MT5, Iress, Webtrader, TradingView, cTrader, and a Mobile App
Promotion	✅

What Type of Investor Is FP Markets Suitable for？

FP Markets is not only suitable for novice investors but also experienced professional investors. First of all, FP Markets provides a wealth of learning resources. Novice traders can choose materials suitable for their own investment style to learn and improve their trading abilities.

Secondly, FP Markets provides multiple trading platforms for investors to choose from, and professional investors can customize trading platform tools that suit them. Then, FP Markets is regulated by ASIC and CySEC, and the safety of investors' funds is guaranteed.

Finally, whether you are a novice trader or a professional trader, you can use the demo account provided by FP Markets to improve your trading system and improve your trading level.

FP Markets Pros & cons

✅Where FP Markets Shines:

Operate under a strong regulatory frame: FP Markets has strong regulatory endorsement. FP Markets is regulated by top-tier financial authorities, including ASIC and CySEC. A strict regulatory system can protect the security of users' assets.

Convenient and fast account opening: FP Markets is convenient and fast for opening an account. There is no complicated account opening process. Users do not need to wait for a long time after opening an account to use the account for trading, which is very suitable for novice investors.

Negative balance protection: Severe market fluctuations will cause the loss of investor account funds to be greater than the total account funds, and the negative balance protection measures provided by FP Markets can avoid this phenomenon, and user account funds will not appear negative.

Provide a variety of trading platforms: FP Markets provides investors with MetaTrader, cTrader, Iress and TradingView trading platforms. Investors can choose a trading platform for transactions according to their own needs.

Isolate customer funds: FP Markets stores customer funds separately from the company's funds to avoid misappropriation of user funds and ensure the safety of users' funds and the convenience and speed of access.

❌Where FP Markets Falls Short:

Regional restrictions on the use of lress: FP Markets' Iress platform is only open to investors in Australia. If you want to use Iress in other countries, you need to use other traders.

Few types of cryptocurrency transactions: FP Markets offers fewer types of cryptocurrency transactions, and cryptocurrency investment enthusiasts are better suited to other trading platforms.

Is FP Markets Legit？

Yes. FP Markets is a legitimate broker. In Australia, FP Markets are regulated by the Australian Securities and Investments Commission (ASIC) while in Europe, it is regulated by the Cyprus Securities and Exchange Commission (CySEC).

Logo
Regulatory Agency	The Australia Securities & Investment Commission (ASIC)	Cyprus Securities and Exchange Commission (CYSEC)
Current Status	Regulated	Regulated
Regulated Country	Australia	Cyprus
Regulated Entity	First Prudential Markets Pty Ltd	First Prudential Markets Ltd
License Type	Market Making (MM)	Straight Through Processing (STP)
License No.	286354	371/18

How to Open an FP Markets Account？

1. Find the official link of FP Markets, then click the “OPEN LIVE” button on the official website to start registration.
2. The system will remind you which account type to choose, and users can choose according to their own needs.
3. After selecting the account type, users are required to provide personal information, including name, date of birth and contact information.
4. Users need to upload their countrys legally valid identity documents for real user verification.
5. After the information is submitted, wait for FP Markets to verify it, which may take a few days.
6. After the account is successfully verified, you can bind a bank card, etc., and inject funds into the account.
7. You can start trading after completing the capital injection.

FP Markets Trading Platform

FP Markets offers a range of advanced trading platforms, including MT4, MT5, Iress, Webtrader, TradingView, cTrader, and a Mobile App, designed for high-performance and advanced functionality. These platforms provide ultra-fast execution, expert security, and comprehensive market insights from FP Markets' research team.

MetaTrader 4 (MT4) platform

MT4 is an intuitive and straightforward online trading platform. It‘s used by traders to speculate on the price of major financial markets. These include forex, commodities, stocks, indices and even cryptocurrencies. That’s just to name a few.

MetaTrader 5 (MT5) platform

MetaTrader 5 (MT5) is a multi-asset trading platform by MetaQuotes Software, used for trading CFDs, Forex, commodities, stocks, and indices. It provides tools for technical and fundamental analysis and includes various order types and market-depth information. Available on PC, web, and mobile, MT5 allows traders to manage diverse investments efficiently.

Iress

The Iress is suitable for professional traders, offering a comprehensive platform with advanced features. It enables the management of multiple portfolios, real-time price streaming, genuine exchange pricing, and market depth, all within an intuitive interface.

Webtrader

With the FP Markets MetaTrader 4 & MetaTrader 5 online WebTrader, trading has become highly flexible. You can simply trade from a browser of your choice, on your preferred device with no OS preference (Windows or Mac), without the need to download additional software.

cTrader

Powered by Spotware, cTrader delivers a premium charting solution for professional traders and investors. The cTrader trading platform is compatible with several versions and is designed for Forex and CFDs (Contract for Differences). cTrader is a fast and efficient multi-asset Forex and CFD trading platform, boasting advanced charting, advanced order types, level II pricing, powerful trading tools and superior execution.

TradingView

TradingView provides advanced charting functionality through desktop, web-based browsers and mobile devices. With many traders adopting different trading styles and navigating various markets using different strategies, TradingView users have the freedom to explore and employ more than 100,000 public indicators.

Mobile App

The FP Markets Trading App allows you to trade Forex and CFDs on shares, indices, commodities, futures, and cryptocurrencies directly from your mobile device. It offers flexibility and convenience, enabling you to trade whenever and wherever you want.

FP Markets Education

FP Markets offers a variety of educational resources, including video tutorials, webinars, trading guides, market analysis, and a blog covering various trading topics. Additionally, traders can use a demo account to practice strategies without financial risk. These resources are comprehensive and easily accessible, reflecting the broker's commitment to client success.

FP Markets Fees Review

Spreads & Commissions (Trading Fees)

FP Markets only charge spreads and commissions during the transaction process, which vary on the account type and asset class.

Non-Trading Fees

FP Markets do not charge non-trading fees. However, users should note that this is except for the Iress platform.

Deposit & Withdrawal

Deposit

Gateways Deposit	Deposit Fee	Deposit Time
	$0	MT4/5: Instant funding
		Iress: 1 working day
	No deposit fees chargedfrom FP Markets. FP Markets will coveryour International fees (up to $50) fordeposit greater than $10,000.	1 business day
	Blockchain fees applicable	Up to one hour
	$0	MT4/5: Instant funding
		Iress: 1 working day
	Blockchain fees applicable	Up to one hour
	$0	MT4/5: Instant funding
		Iress: 1 working day
		Instant - Up to 30 min
		MT4/5: Instant funding
		Iress: 1 working day

Withdrawal

Gateways Withdrawal	Withdrawal Fee	Withdrawal Time
	$0	2-10 working days
		Up to 5 days
	Blockchain fees applicable	1 working day
	0.5%
	Blockchain fees applicable
	1% + country fees (if applicable)
	0.5%	Instant - 5 working days
	2.25%
	2% up to $30

FP Markets Review on Products

Investors can choose from a variety of trading products based on their own trading characteristics, such as Forex, Shares, Metals, Bonds, Commodities, Indices, Cryptocurrency, and ETFs. Other popular asset classes like Options and Futures are not available.

FP Markets Account Type

Apart from risk-free demo accounts and swap-free Islamic accounts, FP Markets also offers two live account types, Standard and Raw accounts, both with minimum deposit requirement of $100 AUD or equivalent. More detailed info about these two account types can be found in the table below:

Compare to Similar Brokerages

Logo
Broker	FP Markets	ATFX	Forex.com	Pepperstone
Regulation	ASIC, CySEC	ASIC, SFC, FCA, CYSEC, SCA (general registration)	ASIC, FCA, FSA, NFA, CIRO, MAS	ASIC, CYSEC, FCA, DFSA, SCB
Account Minimum	$100 AUD or equivalent	$/€/£500	$100	$0
Product Offering	Forex, Shares, Metals, Bonds, Commodities, Indices, Cryptocurrency, ETFs	Forex, Indices, Commodities, US & European Share CFDs	Forex, Indices, Stocks, Cryptocurrency, Commodities, Gold/Silver	Forex, Cryptocurrencies, Shares, ETFs, Indices, Commodities
Demo Account	✅	✅	✅	✅
Promotion	✅	✅	✅	✅
Best for	Novice traders and professional traders	Novice traders	Novice traders and professional traders	Most traders

FAQs

Is FP Markets a safe and trustworthy brokerage？

Yes. FP Markets is a legitimate trader. First of all, FP Markets stores user funds and company funds in different accounts, effectively preventing the company from occupying customer funds. Secondly, in Australia FP Markets are regulated by the Australian Securities and Investments Commission (ASIC) while in Europe, FP Markets operations are regulated by the Cyprus Securities and Exchange Commission (CySEC).

Does FP Markets have an investor compensation fund？

No. FP Markets (Global) LLC is not a member of an Investor Compensation Fund, however, in case of company bankruptcy clients would be paid from the company's funds.

Where are my deposits held and is my money safe？

Client funds are held with AA-rated National Australia Banks. All client funds are held in segregated accounts. Prevent companies from misusing customer funds.

How much do I need to open an account at FP Markets？

Unlike other brokers who set no minimum deposit requirement, at FP Markets, you have to spend at least $100 AUD or equivalent if you want to start real trading. But the good thing is that you can test demo accounts with no real money and risk-free.

What trading platforms does FP Markets offer？

FP Markets offers multiple trading platforms. You can find all popular platforms here, not only MT4, MT5, TradingView, and cTrader, but also their proprietary Iress, Webtrader, and a Mobile App.