FP Markets Review For 2021
FP Markets Summary
FP Markets is an Australian-owned CFD and forex broker that was founded in 2005. Over the years they have built a formidable business in Australia and that has slowly spread to international growth. Today, they have in excess of 100,000 traders using their array of trading platforms.
This broker is regulated by the ASIC in Australia, CySEC in Cyprus/ Europe and the FSA of St. Vincent and the Grenadines.
Over the years, FP Markets has been globally recognised as a leading online broker with some 40+ industry awards. The awards have been spread across multiple areas such as customer support, speed of execution and value for money.
FP have a very competitive offering. Three different trading platforms to choose from, a wide range of products to trade, competitive spreads and excellent customer support. Find out more by reading our FP Markets review below.
The Pros of Trading with FP Markets
Spreads start at 0.0 pips
Negative balance protection for retail clients
24/7 customer support (yes, all weekend long!)
Access 10,000+ products in global markets
Tailored accounts for newbies and experienced traders
Direct Market Access (on Australian stocks)
The Cons of Trading with FP Markets
Not FCA regulated
High stock CFD commission
Which Asset Classes Can You Trade with FP Markets?
Trade the world’s biggest indices like the UK100, NASDAQ, Dow Jones, Australia 200 and S&P500.
Access over 60+ FX pairs on MT4 – AUD/USD, EUR/USD, GBP/USD, USD/JPY, plus more!
Choose from a wide range of commodities, like oil, gold, silver, natural gas, coffee and cocoa.
Access over 10,000 stocks from a wide range of global exchanges (US, UK, Europe, Australia).
FP Markets Review: Account Types
As FP Markets offers two different trading platforms (MT4/ MT5 & IRESS), there are two sets of differing account types.
MT4/ MT5 Account Types
The new & improved FP Markets mobile app.
Under their MT4/MT5 platforms, which is recommended for FX traders, there are two account types;
- Standard Account: higher spreads (start at 1 pip) and $0 commission.
- Raw Account: lower spreads (from 0 pips) and commission from $3 (each way).
IRESS Account Types
On their IRESS platform, which is recommended for CFD trading, you have three account types;
- Standard (min. AUD $1k deposit size, $10 commission minimum)
- Platinum (min. AUD $25k deposit size, $9 commission minimum)
- Premier (min. AUD $50k deposit size, 0.08% commission on all trades)
Who Are FP Markets Regulated By?
FP is regulated by ASIC in Australia, CySEC in Cyprus, and the FSA of St. Vincent and the Grenadines.
This broker is considered to be a tier-one broker and safe, due to its long-standing track record and because it has held an ASIC licence for 15 years.
FP Markets Spreads
The spreads you receive at FP Markets will depend on which account type you hold. That said, here are some of their typical spreads on their Standard account;
- EUR/USD: 1.2 pips
- AUD/USD: 1.3 pips
- Wall St 30: 1.6pts
- UK100: 1.3pts
- German 30: 1.2pts
- Gold: 3.1 points
- Silver: 2 points
FP Markets Trading Platforms
This broker offers three different trading platforms, all provided by third parties. In fact, FP are one of the few brokers that have never built their own trading platform.
They offer the following platforms:
FP offer the world’s most popular trading platform, and have it plugged into tight, raw spreads and fast execution speeds.
Gain access to;
- A customisable interface
- One-click trading
- MarketWatch data
- Expert Advisors (EAs)
- Customisable alerts
- Access to MetaTrader market and MQL4 community
- Compatible with most devices (iOS, Android and Mac).
With FP Markets, you can now access the multi-asset, ‘all-in-one’ MT5 platform. Access 60+ trading instruments, across FX, stocks, indices, commodities and even some cryptocurrencies. Again, leverage of 500:1 and spreads starting from 0 pips.
MT5 platform features:
- Depth of market display
- Technical indicators
- 6 pending stop order types
- Improved strategy tester for algorithmic trading and EAs
- Trading functions and alerts with e-mail and push notifications on mobile devices
- Forex Signals and Copy Trading
- 21 time frames and 8 order types
The WebIRESS platform is not widely used amongst the well-known brokers, which is surprising given how comprehensive it is. Gain access to a wide-range of international markets, transparent pricing, market depth, advanced charting packages and enhanced trading tools. FP Markets is the longest-running WebIRESS broker in Australia.