Company name: FP Markets / First Prudential Markets Ltd / First Prudential Markets Pty Ltd
Founded: 2005
Headquarters: Australia
Regulatators: AU ASIC / CY CYSEC / SVG FSA
Minimum deposit: $100
Maximum leverage: 500:1
FEATURES:
- Over 10,000 shares from global exchanges
- Direct Market Access pricing on the IRESS platform
- Tight spreads and fast execution
- Accepts funding in several cryptocurrencies
Note: BEST FOREX BROKERS 2023 – RATING SCORE OF 4.6 OUT OF 5.0
FP Markets is an excellent, well-liked broker with a lot of educational tools and resources to offer its traders!
FP Markets reviews by verified customers, cashback rebates, expert ratings, spreads & fees, leverage, demo accounts, downloads, trading platforms and more.
FP Markets Review | FP Markets Rebates – Forex Broker Rating
Table of Contents
We begin our FP Markets review by highlighting some of this Australia-based CFDs broker’s features.
FP Markets Overall Rating
Currently the broker receives a score of 4.6 out of 5.0.
Notoriously, the broker offers DMA access to over 10,000 shares from global exchanges, including the NYSE, ASX, NASDAQ and LSE. Investors looking to trade this type of financial instrument can take advantage of FP Markets’ minimal fees and commissions as low as 0.08%.
The Direct Market Access (DMA) pricing model provides traders access to transparent and precise execution. This DMA model ensures investors receive live market prices, full market depth and direct access to the exchange order book (via FP Markets IRESS DMA* platform).
*Please note that the FP Markets IRESS DMA accounts are only available with First Prudential Markets Pty Ltd, Australia’s ASIC regulated entity.
Also positively, FP Markets is a pioneering broker with regards to the crypto ecosystem. Traders can go long and short on the top 5 most traded cryptocurrencies, Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin, with very competitive spreads. For example, for the BTC/USD pair the broker declares a minimum spread of 2.02 with an average spread of 7.66, with zero trading commissions! Quite competitive, in our opinion.
And on top of that, FP Markets also accepts funding with BTC, ETH, LTC, XRP, BAT, BNT, CVC, ENJ, FUN, LINK, MITH, MTL, OMG, REP, XLM, BCH and USDT – subject to the contracting entity jurisdiction.
On the downside, the FP Markets Standard account is signalled as slightly uncompetitive. With higher average spreads, and slippage – both positive and negative. That occurs frequently, especially during increased market volatility.
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FP Markets Regulation / Money Protection
Currently the broker receives a score of 5.0 out of 5.0.
FP Markets provides online CFDs trading brokerage services. Investors can open a live trading account with any of its two highly-regulated entities. One in Europe and one in compliance with Australia’s ASIC regulations. And, finally, one licensed by St. Vincent & The Grenadines Financial Services Authority (SVG FSA), directed at the international clientele.
1) International regulation: The FP Markets LLC entity will be the counterparty for the international clientele. This entity is registered in Saint Vincent & the Grenadines as a Limited Liability Company and licensed by the nation island Financial Services Authority (FSA) under licence number 126LLC2019. FP Markets international website is www.fpmarkets.com/int.
2) Cyprus regulation: First Prudential Markets Ltd, with address at Aigeo Court 2nd floor, 109 Griva Digeni, 3101, Limassol is a financial services company registered as a Cypriot Investment Firm (CIF) under number 372179. First Prudential Markets Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC) with licence number 371/18. The CySEC licence allows First Prudential Markets Ltd to offer online financial services in Europe according to the guidelines set out on the MiFID rules. FP Markets European website is www.fpmarkets.eu.
3) Australia regulation: First Prudential Markets Pty Ltd, with ACN 112 600 281, and trading as FP Markets, is licensed by the Australian Securities & Investments Commission (ASIC). First Prudential Markets Pty Ltd, with a registered address at Exchange, House Level 5/10 Bridge St, Sydney NSW 2000, Australia, is regulated by the ASIC with licence AFSL 286354. to offer financial services in Australia, limited to the financial services covered by its AFSL licence. FP Markets Australia website is www.fpmarkets.com
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Client Money Protection
FP Markets complies with the highest standards regarding client money protection. Therefore, the broker client’s funds are kept in top-tier international banks, in segregated accounts.
FP Markets also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. The broker holds the client’s money separately from the company funds and does not use these funds for any company operational expenses or purposes.
Deposit Compensation
First Prudential Markets Ltd is a member of the Cyprus CySEC Investor Compensation Fund (ICF). The ICF is an investor compensation fund for retail clients of CIF registered financial firms, and its functions are regulated by the directive DI87-07 of the CySEC. If First Prudential Markets Ltd is unable to meet its obligations, retail clients might be entitled to compensation to the value of up €20,000 per claim, irrespective of the number of accounts held, currency and place of the offering of the investment service (within Europe).
Negative Balance Protection
FP Markets’ customer account balances are also covered by a default negative balance protection (NBP) mechanism, protecting traders from losses bigger than their original investments. Thus, in cases of extreme market volatility, or when markets gap over the weekend, or without an adequate stop loss in place, a losing trading position cannot cause a negative account balance. The NBP mechanism is offered by all of the FP Markets’ group entities.
Corporate Governance
FP Markets offers its clients regular account statements. The broker’s financial accounts are audited by external audit firms, to ensure constant compliance with regulations across operations.
FP Markets Cashback Rebates
Cash back rebates are paid per round turn lot unless otherwise specified. 1 Lot = 100,000 base currency units traded.
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Notes
25.00% of commissions paid are based on account currency: $1.75 AUD, CAD, SGD, $1.50 USD, €1.375 EUR, £1.125 GBP, $10 HKD, ¥125 JPY
Rebate is converted to USD upon trade close.
Rebates are not paid for accounts registered with: CySEC entity.
For new ASIC regulated accounts, only Professional clients are eligible for rebates.
FP Markets does not accept applications from U.S, Japan, Belgium or New Zealand residents.
What Are FP Markets Rebates?
FP Markets rebates are a portion of the transaction cost that is paid back to the client on each trade, resulting in a lower spread and improved win ratio. For example, if your rebate is 1 pip and the spread is 3 pips, then your net spread is only 2 pips.
Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.
How Do FP Markets Rebates Work?
When you link a new or existing forex trading account to Cashback Forex (CBFX) the broker pays them part of their spread or commission profit for every trade you make as compensation for referring a customer. CBFX then share the majority of the revenue with you, paying you a cash rebate for each trade you make as thank you for signing up.
Your spreads will never increase as a result of using this service! The only difference is: as a CBFX client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, CBFX are the original and leading provider of forex rebates. CBFX pay rebates to over 100,000 accounts and traders love a helpful 24 hour live chat, telephone and email support.
Are FP Markets Rebates A Scam; Do My Spreads Increase?
FP Markets rebates paid by legitimate rebate providers are not a scam, however scams do exist. The most common scam is a rebate provider that marks up the spread or commission in order to pay a higher rebate than competitors. Many brokers do allow a referring party, or rebate provider, to markup costs to traders they refer. Obviously this defeats the purpose of the service provided by the rebate provider and thus jeopardizes the viability of the rebate provider’s reputation and business, so a reliable provider wouldn’t consider this. Besides this, certain rebate providers may not pay on time, or not at all. This is why it’s important to choose a reliable provider.
When working with a trustworthy rebate provider, there is no ‘catch’. It is more beneficial to a trader’s financial position to work with a rebate provider than solely with the forex broker.
Are There Any Other Benefits To Signing Up For FP Markets Rebates?
It depends on the rebate provider. Due to CBFX’s unique relationship with many brokers, they have often mediated between brokers and clients in order to help successfully resolve client issues, including clients who are having withdrawal issues. Brokers are often very fast to respond, since they typically have many clients. Their knowledgeable support team is available 24 hours per day in 8 native languages & 23 total languages for any questions. They also offer trading tools, calculators, reviews and a robust forex education section.
How Are Forex Rebates Paid?
Because CBFX deals with so many traders in so many different countries and serve 23 languages we have to cover a wide array of options. Here’s what they offer:
Forex rebate options vary per broker:
| Monthly cash back | Payments are credited and sent automatically by the 12 of the month following the month rebates are earned in. |
| Spread or commission reduction | The trader actually receives reduced commissions and/or spreads. This is an exciting option offered by some of our top brokers. |
| Paid direct to brokerage account | Cashback is credited directly to the trader’s brokerage account, typically between 1-7 days after the trade is closed. This is another exciting options offered by some of our top brokers. |
In the case of the ‘Monthly cash back’ rebate option, monthly payments can be paid via bank wire, Paypal, Skrill, Sticpay, China Unionpay, and Neteller. Some payment methods such as bank wire carries fees and often traders set a custom minimum payment amount in order to accumulate rebates and withdraw their rebates less often than monthly.
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FP Markets Profile
First Prudential Markets Pty Ltd is an Australian-regulated CFDs broker offering investors online trading on a full suite of financial instruments; forex, shares, indices, metals, commodities and cryptocurrencies. Investors can trade the price of over 10,000 assets, through a selection of industry-leading platforms, including the classic MT4, the next-generation MT5, and FP Markets IRESS, with DMA access to several global exchanges.
Established in 2005, First Prudential Markets Pty Ltd, through its FP Markets brand, offers a combination of pricing, execution speed, robust trading platforms, a great product range, dedicated customer support and accurate market analysis, all key ingredients that give clients the confidence to trade.
About FP Markets – Leading CFD and Forex Broker
FP Markets is a trusted global CFD and forex broker with a vision to create the ultimate forex trading destination, where traders can access and trade global markets with competitive trading costs and great order execution.
The multi-language customer support service is available 24 hours, 5 days a week, in 15 languages. FP Markets customer services can be contacted via local phone numbers (subject to jurisdictions), call back, email and through the live chat widget present on the broker’s website.
FP Markets is also a very popular CFDs broker with traders for the good execution speeds available on all trading platforms. Trading with this broker can be done via the IRESS platform for DMA access to stock exchanges, the Metatrader 4 and Metatrader 5, with both platforms available for Windows, macOS, iOS and Android.
It is also possible to trade with FP Markets, instantly, via the Web Trader, a browser-based platform that requires no installation and replicates the same UI of the MetaTrader platforms, and recently the broker announced the launch of its proprietary Mobile App, for trading on the go, available for Android and iOS mobile devices.
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FP Markets Asset Classes
As mentioned before, one of the strongest features of this CFDs broker. FP Markets offers an excellent range of 10,000+ assets available for trading. Including forex, indices, shares CFDs, commodities. Both energies and metals. And cryptocurrencies.
FX market: 61 currency pairs, including all major pairs, some minor and exotic crosses.
Indices: 12 world indices CFDs, including the UK 100, CAC 40, and NIKKEI 225.
Shares: 10,000+ shares CFDs for trading with IRESS (only 1,000 with MT5). From most global exchanges (from the ASX to the SGX). And, of course, top companies and banks such as Abacus Property Grp, Apple Inc, Alcoa Corporation, Bank of America Corporation, Aston Martin, Tesla and Fuji Offset.
Commodities: 7 commodities CFDs available for trading. 4 metals – including Gold and Silver versus the USD. And 3 energies – including UK Oil and US Oil.
Cryptocurrencies: 5 cryptocurrencies CFDs crosses available for trading. Including Bitcoin, Ripple and Ethereum.
FP Markets Account Types
FP Markets simplifies its offering with only two types of trading accounts, the Standard account and the Raw account, with different pricing. The entry-level account, for retail clients, is the Standard account, offered by the FP Markets LLC entity, and also by Cyprus and Australia’s regulated entities.
The broker also offers a Pro account with the entity in Europe and a Pro account for residents in Australia, for customers classified as “Professional”, with higher leverage ratios and a personal account manager.
The Standard account is available with all of the Group entities. It is recommended for the investors looking to trade only with the bid and ask prices. Without any added commissions.
The Raw account – also offered by all of the Group entities – is a more aggressively priced account. Especially when trading forex pairs, with tighter spreads, from as low as 0.0 pip. But with a slightly below industry average trading commission of 3 USD per side per 1 lot traded.
About FP Markets IRESS Account
The FP Markets IRESS account (only available with First Prudential Markets Pty Ltd in Australia) is the broker’s account for shares CFDs trading. The IRESS is divided into three accounts, Standard, with a minimum balance of AU$ 1,000, Platinum, with a minimum balance of AU$ 25,000 and Premier, with a minimum balance of AU$ 50,000. Each account is priced individually, with different brokerage rates, ranging from $10 minimum and then 0.1% commissions to no minimum and then 0.8% commissions.
The broker also offers swap-free accounts for traders of Islamic belief and viable options for money managers looking for FP Markets MAM/PAMM accounts.
Regarding leveraged trading, FP Markets maximum leverage ratio is 500:1 for retail clients opening a live account with the entity in St. Vincent & The Grenadines, and limited to 30:1 for retail traders opening a trading account with Australia’s ASIC and Cyprus CySEC regulated entities.
Currently, FP Markets trading accounts are available in several base currencies (subject to jurisdiction): AUD, USD, EUR, GBP, SGD, HKD, JPY, NZD, CHF or CAD.
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FP Markets Demo Account
With a FP Markets demo account traders can compare the broker to its peers, check out its product offering and trading conditions. An demo account can also help novice traders practising with their trading skills in a safe environment, without risking losing real money.
To open a demo account traders will need to fill in a form with some basic information – name and surname, a valid email address, country of residence and phone number. Please note that to open a demo account, traders do not need to upload any verification document(s) to FP Markets.
The demo account expires after 30 days but will allow traders to test all the functions of the trading platform and the broker’s pricing on several financial instruments – forex, indices, shares, cryptocurrencies and commodities, without risking any real money. The demo account is 100% risk-free and the funds are virtual, including both winnings and losses, of course.
Register for free and test your trading strategies, open a demo trading account with no risk and no obligation now.
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FP Markets Pricing
Spreads And Trading Commissions
FP Markets pricing and trading costs are amongst the most competitive in this industry when compared with other players. The starting spread for the most popular cross, the EUR/USD pair, on the Standard account, is 1.6 pip, commission-free.
Things improve massively with the Raw account. FP Markets competitively prices its Raw account with a starting spread of 0.0 pip on major crosses, like the EUR/USD, with a trading commission of $6 per round lot traded (100,000 base currency units).
For investors looking for an alternative broker for shares trading, FP Markets proposes its IRESS range of accounts, with a focus on the extremely low commissions of the Premier account, just 0.8%. Please be advised that this account package requires a minimum deposit of AU$ 50,000, and is available only with the ASIC regulated entity.
We consider the FP Markets Raw account trading commissions to be slightly below par when compared with other top brokers – who charge on average 7 USD per round lot.
Rollover Rates
FP Markets swap rates, e.g. for the EUR/USD, stand at -4.07 for holding overnight a long position of 1 lot and at +0.39 for holding overnight a short position of 1 lot. We consider rollover rates to be average when compared with the swap rates offered by other top brokers.
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FP Markets Deposits / Withdrawals
Deposit fees: Trading accounts can be opened in 10 different currencies. And maintained via a multitude of funding methods – depending on the contracting entity. Including the traditional methods, cards and bank wires, the broker also accepts deposits with the most popular e-payment solutions (subject to jurisdiction). E.g. Neteller, China UnionPay, Fasapay, PayPal and Skrill.
And, exclusive to the FP Markets LLC entity in St. Vincent & The Grenadines, investors can fund the account with several cryptocurrencies. From BTC to USDT, via Finrax payments.
The brokerage does not charge any deposit fees and deposited funds via e-payment wallets and cards, are available almost instantly.
Minimum deposit: Opening a live trading account with this broker is fairly easy. It can all be done on the broker’s website, in 5 easy steps, taking on average 4 minutes from registration to account set up. The minimum deposit requirement for the Standard and Raw accounts is only 100 AUD. Or the equivalent in other base currencies. FP Markets IRESS accounts require an initial minimum deposit ranging from 1,000 AUD to 50,000 AUD.
Withdrawal fees: FP Markets also waives the withdrawals fees, with processing times varying according to the withdrawal method chosen, but normally, within 1 business day. While FP Markets does not charge any withdrawal fees for e-wallet and bank wire transactions, certain e-wallet providers, as well as the sending and correspondent bank, may charge according to their fee structure. The minimum withdrawal amount allowed by FP Markets is 5 USD. For more information, please visit the FP Markets withdrawals dedicated page.
Inactivity fee: Currently, this brokerage does not charge an inactivity fee or any account maintenance fees.
FP Markets Popularity
FP Markets is not one of the most popular brokers, but, with its competitive pricing and good trading conditions, has some potential to be a reference in the industry.
The brokerage should be considered a valid option for traders looking for an alternative with an excellent range of financial instruments. This is our recommendation for traders looking to bet on the price of cryptocurrencies. The crypto-trading spreads are some of the most competitive we have found.
The broker offers raw forex pricing on its MT4 platform. And deep liquidity from a large pool of leading, tier-1, regulated financial institutions for a diverse liquidity mix and aggressive pricing. FP Markets also boast award-winning low latency trade execution times, delivered from its Equinix NY4 facility server cluster.
Popular trading account: The Raw account is the popular choice with traders looking to save on trading costs. With low starting spreads and a commission of just 6 USD per round lot traded.
Trading education
FP Markets gets some extra popularity points for their great range of trading education materials. Users can find some quality trading tools, including forex calculators, trading courses, trade ideas and so much more.
Furthermore, users can enrol on the FP Academy and access several trading courses. This academy is designed to address critical areas of the markets and enhance traders’ performance. Users can also watch and learn with live webinars, and educational videos. And make informed decisions with FP Markets daily and market insights reports.
FP Markets Promotions
Zero Fees on Deposits & Withdrawals
Free VPS Service
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FP Markets FAQs
Who is First Prudential Markets?
First Prudential Markets Pty Ltd is a derivatives and forex trading services provider, registered in Australia with ABN 16 112 600 281, and regulated by Australia’s ASIC with an AFS Licence, number 286354.
First Prudential Markets Pty Ltd operates in the online retail trading industry through its FP Markets brand. The FP Markets brand is shared also by the two other Group entities, First Prudential Markets Ltd and FP Markets LLC.
First Prudential Markets Ltd is a financial services provider company registered in Cyprus, on 19/11/2018, with company number 372179. The company is supervised and regulated by the Cyprus Securities and Exchange Commission, and holds a licence, number 371/18, on the category of Investment Services, allowing the company to receive and transmit orders in relation to one or more financial instruments, execution of orders on behalf of clients and to offer foreign exchange services where these are connected to the provision of investment services. The CySEC licence also allows First Prudential Markets Ltd to offer its financial services across the border to 27 EU member states.
First Prudential Markets LLC (FP Markets LLC) is a financial services provider company, registered as a Limited Liability Company, with number 126 LLC 2019, in Saint Vincent & The Grenadines.
All the 3 entities above compose the FP Markets Group of companies. As a regulated retail CFDs trading broker, FP Markets does not accept applications from U.S, Japan or New Zealand residents. Or residents from any other country, where such distribution or use would be contrary to those local laws or regulations.
Is FP Markets an ECN broker?
FP Markets is a broker offering ECN pricing and an ECN trading environment. Any of the trading platforms report the prices (Ask & Bid) received directly from its execution venues and liquidity providers.
To maintain a seamless trading experience, and offer the best execution prices, this brokerage connects to what is known as the Electronic Communication Network (ECN). This technology allows for executable price streaming, virtual order creation and aggregation of different liquidity providers.
By connecting to different liquidity providers, through the ECN network, FP Markets can offer extremely competitive spreads, ultra-low latency execution and minimal slippage. ECN prices allow for matching of trading orders and execution with the prices FP Markets deems best. This is particularly useful for forex traders who use trading strategies such as scalping with Expert Advisors (EA), as this results in faster execution.
FP Markets ECN prices refer to the way the price was derived and guarantees market competitiveness. This is different from cases of offsetting orders placed with liquidity providers, offsetting with orders from other clients/market participants, or trades held internally by FP Markets.
Irrespective of brokers hedging strategy, the ECN pricing model aims to ensure execution quality at best, lower market prices. The broker considers price and costs as the most important execution factors. Followed by speed, the likelihood of execution and settlement, size and nature, and market impact.
Please be advised that slippage is a normal element when trading CFDs on an ECN network. Slippage more often occurs during periods of illiquidity or higher volatility. For example, due to news announcements, economic events and market openings. And other factors, making an order at a specific price impossible to execute. In other words, your orders may not be executed at declared prices.
What are FP Markets maximum leverage ratios?
FP Markets maximum leverage ratios, for forex trading, varies from 30:1 to 500:1. Depending on the contracted entity and client classification.
For a complete overview of the maximum leverage ratios, please refer to the table below:
What is FP Markets minimum deposit?
FP Markets minimum initial deposit for the Standard and Raw accounts is AU$ 100 (one hundred Australian Dollars). The minimum initial deposit for the IRESS Shares account is AU$ 1,000 (one thousand Australian Dollars). Please note that if the deposit currency is not in Australian dollars, then the indicative deposit amount should be converted to the deposit currencies.
The broker accepts deposits by multiple credit cards, multiple electronic payment methods, bank wire transfer, local bank transfer. And other e-payment methods in AUD, USD, EUR, GBP, SGD, HKD, JPY, NZD, CHF or CAD. Saint Vincent & The Grenadines entity, FP Markets LLC, accepts also account funding with multiple cryptocurrencies. Processed by Finrax payments; USDT, BTC, BCH, ETH, LTC, XRP, BAT, BNT, CVC, ENJ, FUN, LINK, MITH, MTL, OMG, REP and XLM.
FP Markets does not charge any deposit fees and will cover internal bank fees for all international deposits. If the broker receives a receipt showing the original deposit fee amount is no more than 50 USD, the company will cover clients international bank fees (charged by the client’s bank) for deposits over 10,000 USD. Regarding funding with cryptocurrencies, blockchain fees apply.
Deposits are almost instant, except for bank wire transfers, subject to banking schedule.
What is FP Markets withdrawal policy?
FP Markets withdrawal policy is to return the client’s funds to the origin of these funds. As such, the withdrawal will be returned to the source of the funds’ deposit.
This withdrawal policy is to protect all parties against fraud. And also is in compliance with the applicable laws and regulations for the prevention and suppression of money laundering.
For the first withdrawal, the amount will need to be the same as the initial deposit. And withdrawn via the same deposit method. Once deposits have been withdrawn suing the original deposit methods, users can then use an alternative method to withdraw profits.
If a trader used several deposit methods, then the withdrawal amount must be the same and withdrawn back to each deposit method used, starting with any card deposits.
Once card deposits have been withdrawn back to the same credit/debit card, traders can then make the remaining withdrawals in the order that the initial deposits were made. After that, traders can then choose any of the previously used funding methods to withdraw profits.
Funds can be withdrawn using a wide range of funding methods. Including credit cards, debit cards, e-payment wallets (including Neteller, PayPal and Skrill), online banking and bank wire transfer.
The brokerage does not charge any additional internal fees for withdrawals. However, please note, that payments to and from overseas banking institutions may be subject to intermediary transfer fees.
The only withdrawal charge applied directly by the broker is a 10 AUD fee for international bank wire withdrawals.
For more information on FP Markets withdrawal policy, please visit the fast & easy withdrawals web page.
Does FP Markets offer a bonus?
No, currently FP Markets does not offer a bonus. Out of the 3 regulated entities of the Group, two can never offer any type of bonus or promotions. First Prudential Markets Ltd, regulated by the Cyprus CySEC and First Prudential Markets PTY Ltd, regulated by Australia’s ASIC.
The reason is quite simple. On the last product intervention by the ESMA in Europe and the ASIC in Australia, for retail CFDs trading, it was established that brokers regulated in Europe and Australia are forbidden to offer promotions and bonuses to attract traders.
Thus, the only Group company that could offer a bonus is the FP Markets LLC entity, registered in Saint Vincent & The Grenadines. Although there isn’t currently any bonus, the broker is running two very convenient promotions; Zero fees on deposits & withdrawals and free VPS service.
The zero fees on deposits & withdrawals promotions don’t need much explanation. Regarding the free VPS service promotion, if a user trades over 10 lots on a Standard trading account or 20 lots on a Raw trading account, FP Markets will cover the monthly subscription fee with its dedicated forex VPS provider.
For more info regarding the free VPS service promotion, please visit the FP Markets free VPS service web page. The free VPS is available for users registering a live account with any of the Group’s entities. These are FP Markets LLC, First Prudential Markets PTY Ltd and First Prudential Markets Ltd.
FP Markets Real Customer Rating
Based on user reviews from FP Markets verified customers, this broker is recommended for its execution speeds. And the overall trading costs of the Raw account, with lower spreads and a low trading commission.
Traders were also very pleased with deposit and withdrawal processing times. Fast and efficient, even quicker than its competitors. And with the broker’s deposits and withdrawals policy of no fees. Finally, some traders praised the broker’s customer support service, and the dedicated account manager, as knowledgeable, efficient and friendly.
Negatively, a few traders reported on frequent slippage happening while trading with FP Markets. But basically, this is a characteristic of online brokers offering ECN environment trading.
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FP Markets Review – Final Considerations
We conclude our FP Markets review with the final considerations regarding this CFD broker. This online broker stands out for its great range of available financial instruments. And is a serious contender for investors looking for a CFDs broker to speculate on the price of shares.
FP Markets also stands out for the competitive pricing of its Raw account. With starting spreads of 0.0 pip on some major FX pairs. With an average trading commission of 6 USD per round lot (100,000 currency units). And for the fast order execution speeds. The broker is also competitively positioned as an alternative for cryptocurrencies trading, namely BTC/USD. With below-average spreads (min 2.02 – avg. 7.66) and zero commissions added.
Also positively, this brokerage offers retail investors the possibility to trade with two highly-regulated entities. These are situated in Europe and in Australia. For these entities are retail client money safety and retail client protection very important. We highly recommend these entities to traders.
With an FP Markets account, traders can hedge, scalp, swing or position trade, with no restrictions. They can use 2 reliable trading platforms: MT4 and MT5. These are available for Windows, macOS, Android and iOS, and via the IRESS platform.
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Overall, the broker’s competitive pricing for FX and cryptos, the safety of retail client’s funds, together with an excellent range of financial instruments and a low initial deposit of 100 AUD, or equivalent in other base currencies, position this CFD broker on the top 10 brokers for popularity with traders opening a trading account in 2023.
