CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FP Markets

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Home » Reviews » FP Markets

FP Markets Review

FP Markets is a forex trading services broker. They give traders access to a wide variety of instruments in several markets like currencies, indices and commodities.

Pros

  • Used by 10,000+ traders
  • Established in 2005
  • Regulated by ASIC
  • Min. deposit from $200

Cons

A minimum deposit of $200 is required to create a live account. Alternatively, FP Markets provides a demo account that you may use to experiment and become acquainted with their platform.

ASIC regulated (AFSL #286354), FP Markets places all customer funds in segregated bank accounts with tier-1 institutions. The company was founded in 2005 and has its headquarters in Australia.

Before we get into the specifics of FP Markets’ spreads, fees, platforms, and trading tools, you may want to open their website in a new tab by clicking the button below to get the most up-to-date information straight from them.

VISIT FP MARKETS

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

What are FP Markets’s spreads & fees?

Like most brokers, FP Markets takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The commissions and spreads shown here are based on the FP Markets website’s minimum spreads.

ForexFP MarketsCity IndexXTB
EUR/USD(Average: 0.7 pips)0 pips0.7 pips0.1 pips
GBP/USD(Average: 1.1 pips)0 pips1.7 pips0.1 pips
USD/JPY(Average: 1.1 pips)0 pips0.6 pips0.1 pips
AUD/USD(Average: 0.8 pips)0 pips0.6 pips0.2 pips
USD/CHF(Average: 2.3 pips)0 pips2.3 pips0.2 pips
USD/CAD(Average: 2.9 pips)0 pips0.5 pips0.3 pips
NZD/USD(Average: 3.6 pips)0 pips2.8 pips0.3 pips
EUR/GBP(Average: 2.4 pips)0 pips0.5 pips0.1 pips

Spreads are dynamic and are for informational purposes only.

As you can see, the minimum spread for trading EUR/USD at FP Markets is 0 pips, which is relatively low when compared to the average EUR/USD spread of 0.70 pips. The table below compares the costs of trading one lot of EUR/USD with FP Markets to similar brokers.

SEE ALL SPREADS

How much does FP Markets charge to trade 1 lot of EUR/USD?

If you bought one standard lot of EUR/USD (100,000 units) with FP Markets at an exchange rate of 1.1719 and sold it the next day at the same rate, you would most likely pay $13.14. Here is a general breakdown of the fees and how they compare to IG and XTB.

FP MarketsIGXTB
Spread from:$ 0.00$ 6.00$ 2.00
Commission:$6.00$0.00$0.00
Total cost of a 100k trade:$ 6.00$ 6.00$ 2.00
$0 less$4 less
VISIT FP MARKETSVISIT IGVISIT XTB

All fees/prices are for informational purposes and are subject to change.

What can you trade with FP Markets?

FP Markets offers over 10,101 different instruments to trade, including over 60 currency pairs. We’ve summarised all of the different types of instruments offered by FP Markets below, along with the instruments offered by IG and XTB for comparison.

FX / CurrenciesFP MarketsIGXTB
# of forex pairs offered609048
Major forex pairsYesYesYes
Minor forex pairsYesYesYes
Exotic forex pairsYesYesYes
Cryptocurrencies*NoYesYes
Commodity CFDsFP MarketsIGXTB
# of commodities offered183421
MetalsYesYesYes
EnergiesNoYesYes
AgriculturalNoYesYes
Index & Stock CFDsFP MarketsIGXTB
# of stocks offered1000080001606
UK sharesNoYesYes
US sharesNoYesYes
German sharesYesYesYes
Japanese sharesYesYesYes
SEE FP MARKETS’S INSTRUMENTSSEE IG’S INSTRUMENTSSEE XTB’S INSTRUMENTS

Visit FP Markets

What’s the FP Markets trading experience like?

1) Platforms and apps

FP Markets provides the well-known MT4 forex trading software. See our MT4 broker comparison for a list of the best MT4 brokers. They also provide their own IRESS platform. Traders may trade with their preferred device thanks to the mix of downloading platforms for both Mac and Windows.

They also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

SEE FP MARKETS’S PLATFORMS

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

You may conduct a minimum trade of 0.01 Lot using FP Markets. This may differ based on the type of account you establish. They allow you to conduct a maximum of 50 Lot trades. Because they provide ECN and STP execution, you may anticipate very tight spreads and greater transparency in the price you pay to execute your transactions.

As a market maker, they may have lower entrance criteria than an ECN broker, who usually has greater capital and minimum trading requirements due to a higher number of trades. Market makers generally have a lower minimum deposit, lower minimum trade requirements, and no trading commission.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

Finally, we’ve listed some of the popular funding methods that FP Markets offers its traders below.

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Accounts offered:

  • Demo account
  • Mini account
  • Standard account
  • ECN account
  • Managed account

Funding methods:

  • Credit cards
  • Bank Transfer
  • Payoneer
  • Neteller

3) Client support

FP Markets support a limited number including English and Chinese.

4) What you’ll need to open an account with FP Markets

Because FP Markets is ASIC-regulated, every new customer must pass a few simple compliance tests to verify that you understand the risks of trading and are permitted to trade. When you establish an account, you will most likely be asked for the following information, so have it handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.

While you may be able to browse their site immediately, it is crucial to note that you will not be able to execute any transactions until you pass compliance, which may take several days depending on your scenario.

To start the process of opening an account with FP Markets you can visit their website here.

FP Markets

Open a demo account

79% of retail investor accounts lose money when trading CFDs with this provider.

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