This article will try be digging deep for an FP Markets review. FP Markets is a forex and CFD broker that is part of the FP Markets Group, one of the world’s leading brokers.
FP Markets is a very popular broker especially in Malaysia, including one of the best brokers in Malaysia. The broker also claims to have earned more than 40 awards in service and technology execution.
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- 1 FP Markets company overview
- 2 FP Markets available market
- 3 FP Markets account type
- 4 FP Markets trading platform
- 5 FP Markets payment system
- 6 Company regulation
- 7 Leverage
- 8 Education
- 9 Trading fee
- 10 Customer support
- 11 FP Markets review trustpilot
- 12 FP Markets review forex peace army
- 13 FP Markets Malaysia
- 14 Is FP Markets a good broker?
- 15 Conclusion
FP Markets company overview
FP Markets is an Australian-based company registered with the Australian Securities and Investments Commission (ASIC). It is a broker that provides services on Contracts for Difference (CFDs). Offers 10.000+ instruments including Forex Currency Pairs, Commodities, Cryptocurrencies, Stocks, Shares, Indices, Metals, Equities, Energies, CFDs & ETFs.
This broker was founded in 2005, including a company that has a long experience in the financial market. The same age as FXOpen which has been in existence since 2005.
Initially, this broker was First Prudential Markets Pty. Ltd. And become one of the ECN brokers without requotes and transaction delays. FP Markets offers low spreads from 0 on major currency pairs.
FP Markets available market
This broker claims to provide access to more than 10,000 financial instruments. On the official website, there are five categories of available markets including Forex, Shares, Metals, Commodities, Indices, and Cryptocurrencies.
Forex instruments are available at FP Markets. They offer more than 60 currency pairs including major pairs. With tight spreads, you can choose pairs with 0 spreads such as GBPUSD. However, if you choose an exotic pair the cost of spread will be higher for example USDTHB (US Dollar vs Thai Baht) the spread reaches 150.
For instrument shares, FP Markets offers +10,000 shares in both Australian and international stocks CFDs. CFD is a Contract For Difference, which even though the buyer does not own the physical asset, but can take advantage of changes in the price of the selected stock.
For access to CFD trading, they recommend to uses the Iress DMA trading platform as it supports +10000 shares on the global exchange. However, if you use the MT5 or MT4 trading platform it only supports +1000 shares on global exchange.
For trading in metals commodities, this broker offers Gold and Silver pairs with USD or Australian dollars.
Here are five pairs for Gold and Silver, XAUUSD (Gold vs US Dollar), XAUAUD (Gold vs Australian Dollar), XAUEUR (Gold vs Euro) XAGUSD (Silver vs US Dollar), and XAGAUD (Silver vs Australian Dollar).
On commodity instruments, this broker is available for trading CFDs on oil, gold, silver, and natural gas.
The full range of CFD commodities uses the MT4 or MT5 platform, with the instruments WTI, XTIUSD, XBRUSD, XNGUSD, XAUUSD, XAUAUD, XAGUSD, and XAGAUD.
FP Markets also gives traders access to market indices of CFDs. Various indices provide traders with the opportunity to access them using the MT4 and MT5 trading platforms.
Thousands of global stocks can be accessed by traders such as AUS200, US30, EURO50, FRA40, GER30, etc.
Since the emergence of Bitcoin as the first cryptocurrency. Later ones such as Litecoin, Ethereum, and Bitcoin cash caught the attention of forex and CFD brokers to provide access to the cryptocurrency market.
FP Market via the MT4 and MT5 platforms also provides access to crypto trading. Several other brokers also provide cryptocurrencies such as TenkoFX and FXOpen.
In the cryptocurrency market, FP Market provides assets BTCUSD, BCHUSD, ETHUSD, and LTCUSD.
FP Markets account type
FP Markets divides account types for forex and Iress account types.
Forex account type
- Standard. Minimum deposit $100 AUD or equivalent. Spread from 1 pip. Commission zero. Max. leverage 1:500.
- Raw. Minimum deposit $100 AUD or equivalent. Spread from 0 pip. The commission per lot is $3.
Iress account type
- Standard. Minimum deposit $1000 AUD.
- Platinum. Minimum deposit $25.000 AUD.
- Premier. Minimum deposit $50.000 AUD.
FP Markets includes brokers that provide Islamic account facilities. This is mainly for Muslims so there are no swap fees when traders hold orders overnight.
FP Markets trading platform
FP Markets uses a popular platform for trading CFDs, forex as well as cryptocurrencies. They use the platform Metatrader 4, Metatrader 5, Web Trader and also offer mobile trading that supports android and IoS.
FP Markets also offers VPS which is useful when traders use EAs so the trading software can run 24 hours 5 days a week. However, there are certain requirements if traders want to subscribe to a VPS. The minimum deposit is $1000 and has a minimum transaction volume of 10 lots on standard accounts, and 20 lots for Raw accounts in the following month.
Other services include access to Myfxbook, Autochartist, MAM/PAMM, trader toolbox, and social trading.
FP Markets payment system
FP Markets provides a variety of payment methods for deposits and withdrawals.
- Credit/ debit card. Currency AUD,CAD,CHF,EUR,GBP,HKD, JPY,NZD,SGD,USD.
- Bank Transfer. Currency AUD, USD, EUR, GBP, SGD, HKD.
- Netteler. Currency AUD, CAD, CHF, EUR, GBP, JPY, PLN, SGD, USD.
- Skrill. Currency AUD, CAD, EUR, GBP, INR, USD.
- Paytrust88 (Local Bank Transfer). Currency MYR, IDR, THB, VND.
- Ngan Luong.vn. Currency VND.
- Fasapay. Currency USD, IDR.
- Broker to Broker. Currency AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD.
- South American Payment method. Currency USD.
- Dragonpay. Currency PHP, AUD, CAD, CHF, EUR, GBP, HKD, SGD, USD.
- Perfect Money. Currency EUR, USD.
- Zotapay. Currency USD, GBP, EUR, African & Asian Currencies.
- Indian payment method. Currency AUD, EUR, GBP.
- Cryptocurrency. Support like BTC, ETH, XRP, etc.
- Fairpay. Currency BRL, CLP, COP, CRC, GTQ, MXN, PEN, USD.
- Paylivre. Currency BRL, USD.
- Finrax. Currency BTC, ETH, LTC, XRP, BAT, BNT, CVC, ENJ, FUN, LINK, MITH, MTL, OMG, REP,, XLM, BCH, USDT.
- Sticpay. Currency JPY, EUR, GBP, USD, HKD, TWD, KRW.
Regulated brokers earn higher trust from clients. Because having a license shows the company’s seriousness in providing services to customers.
FP Markets, this broker is regulated in three jurisdictions.
- Australian Securities and Investments Commission (ASIC).
- Cyprus Securities and Exchange Commission (CySEC), these are for European regulation.
- And registered also in St. Vincent & the Grenadines.
FP Markets have to claims earned more than 40 awards, including best broker 2020, Best customer service, Best education material, Best trade execution, Best satisfied trader.
And more, the FP market also uses segregate accounts, to separate customer funds at certain banks, so that they do not mix with the firm’s funds.
FP Markets offers leverage up to 1:500. But it also depends on the asset being traded and also the type of account. For forex standard and Raw accounts offer leverage up to 1:500. Trading metal assets, traders can use leverage up to 1:500 as well. Trading on the Commodity market also offers leverage of up to 1:500.
At Iress, FX Markets offers an Equity Margin CFD rate of at least 3% for all account types, both standard, Platinum, and Premier. For trading Shares CFDs, FP Markets offers leverage up to 1:20. For cryptocurrency trading, they also offer low leverage and low spread.
FP Markets claims to earn rewards as the best broker that provides material education. Beginners can access education through video tutorials, as well as ebooks. Mainly to get the ebook, the user needs to submit an email address, it will be sent by email. Besides, beginner traders also can learn various terms in the forex business in the glossary.
Traders can also subscribe to the newsletter by first registering using their name, email address, and phone number.
Another educational access that is useful for adding insight is through blogs that frequently update the latest information. They also provide webinars mainly for experienced traders.
FP Markets brokerage trading fees are low, even some forex pairs offer zero spreads. For Standard accounts, use built into spreads for all available market categories.
While the Raw account offers for the forex and metal markets with a commission range of $3. While for Indices, commodities, and cryptocurrencies, it uses built into the spread.
It uses market mechanisms in determining spreads. Brokers sometimes increase margin requirements when there will be big news that has an impact on price volatility.
FP Markets also claims they earned awards for best customer support. It provides customer service 24 hours 7 days a week full time. This broker offers a support contact that can be contacted via Live Chat, Email, Phone.
- Office: First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent, and the Grenadines.
- Phone Numbers: General: +44 28 2544 7780.
- Email: [email protected]
- Russia: +7 800 301-45-71.
- Indonesia: +62 780332160267.
- Malaysia: +60 1-800-81-9425.
- Singapore: +65 800 321 1219.
- Hong Kong: +852 800 906 405.
- Taiwan: +886 80 149 1401.
- Thailand: +66 1800 013 207.
- Vietnam: +84 1800 400346.
- Brazil: 0800 883 8104.
- Poland: 00 800 112 5234.
- Spain: +34 800 000 566.
- Portugal: +351 800 180 250.
- France: +33 805 98 56 62.
- Italy: 800 694 140.
- Germany: +498006273105.
- Korea: +82 30-8321-0471.
- China: +86 400 842 7538.
FP Markets also supports multiple languages, including Portuguese, Vietnamese, Indonesian, French, Thai, Malaysia, Italy, Russia, Polish, Brazil, Korean Hongkong, Taiwan.
FP Markets review trustpilot
Trustpilot is a site where customers of a company from various business fields provide comments regarding their experiences with the company.
It is hoped that the incoming voices are independent traders who share information about the company’s products and services.
FP Markets Trustpilot received 1,944 reviews. It gets a value based on the number of stars getting a 4.8-star rating.
- Excellent rating gets 92%.
- Great: 5%.
- Average: >1%
- Poor: >1%.
- Bad: 2%.
FP Markets review forex peace army
If you are a forex trader, of course, you understand about Forexpeacearmy. This site is one of the references for traders in finding the best broker. Traders who have experience with a particular broker share their testimonials.
At the time of writing, there are around 101 traders who share their experiences and opinions on FP Markets Forexpeacearmy. It earns a 3.2-star rating from the overall average of the reviews.
Referring to the experience of traders, not all traders get the same satisfaction. There are even those who face problems regarding blocked accounts.
But the review is dubious, as there are a lot of spammers reported in the FP Markets thread.
FP Markets Malaysia
FP Markets is a fairly popular broker in Malaysia. For the site, support can select the Malaysian language. It’s very easy, by selecting the flag icon at the top right of the bar.
According to Forex-Malaysia.my FP Markets is a broker that has a score rating of 4.25 and is a recommended broker ranked #15 out of 69 Brokers.
FP Markets is also recommended by Forex Malaysia which puts this broker in second place after XM.
Is FP Markets a good broker?
- To determine a forex broker, the first and very important thing is about regulation. FP Markets is an ASIC, Cysec and St.Vincent and Grenadine regulated company. Regulated brokers have higher trust among traders because they can contact the regulators if they have a problem with the broker.
- Second, traders will look at trading fees. Brokers that offer low trading fees are mainly favored by scalpers. FP Markets trading fees are quite competitive.
- Third, customer support. Responsive customer support and provide solutions to complaints. With customer support 24 hours 7 days this broker should get good marks.
- The fourth is a trader’s review. This refers to the real experience of traders using the services of this broker. According to a review from Trustpilot, FP Markets is an excellent broker with a rating of 92%. However, the results are quite different from the reviews on Forexpeacearmy. This broker only gets a 3.2-star rating. And there are found spammers who often make posts that are just duplicates of previous posts.
FP Markets is one of the leading brokers with more than 15 years of experience. With a wide selection of assets over 10 thousand instruments, making this is an attractive broker.
There are also many types of payment system support, making it easier for traders to choose the appropriate payment method.
Despite being a global broker, some countries may not support FP Markets services, such as not accepting clients from the US, also Belgium, or Ghana.
Note: This article is for informational purposes only, does not constitute investment advice. Forex and CFDs are risky trades, each investor is responsible for their own investment.
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