In this detailed FP Markets Broker Review, we will review each aspect of the FP Markets broker to see if this broker is a legit broker. Below is the summary of the FP Markets Broker.
Summary
Assets Available | 7 Asset Classes – Forex, Crypto, Shares, Commodities, Indices, ETFs, bonds. |
Regulated By | ASIC, CySEC, FSA SVG, FSCA, CMA |
No. Of Trading Platforms | 4 Trading Platforms – MT4, MT5, cTrader, TradingView, Iress platform and FP Markets trading app |
Leverage | Up to 1:500 |
Spreads | From 0.0 pips |
Commission | From 0% |
Min Deposit | $100 |
Demo Account | Yes |
Education Provided | Provides trading videos and articles |
Methods of Payment | Credit/Debit Cards, Bank Wire Transfer, eWallets (Neteller, Skrill, Poli Pay, and BPay), Broker-to-Broker Transfers |
Open Account |
Broker Background
FP Markets is a leading global online broker founded in 2005 and headquartered in Sydney, Australia.
Regulated by top-tier authorities such as the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), FP Markets offers CFDs on a range of financial assets.
Known for its advanced technology, competitive pricing, and exceptional customer support, the company prioritizes client satisfaction and provides access to a wide range of trading platforms.
Trading Platforms
The FP Markets broker provides traders with 5 different trading platforms. These are, MT4, MT5, cTrader, Mottai, Iress and TradingView trading platform.
MetaTrader 4
MetaTrader 4 (MT4) is a great trading platform, especially used by forex traders. Its user-friendly interface caters to both beginners and experienced traders. MT4 is equipped with all the necessary tools for market analysis and trade execution, making it ideal for algorithmic trading.
MetaTrader 5
MetaTrader 5 (MT5) builds on the success of its predecessor, MetaTrader 4 (MT4). It offers a wider array of technical indicators, enhancing your trading capabilities. Similar to MT4, MT5 also supports algorithmic trading, making it a versatile choice for traders.
cTrader
cTrader is a cutting-edge trading platform known for its speed and transparency. Suitable for both novice and seasoned traders, it offers a solid foundation for forex and CFD trading.
Available on desktop, web, and mobile devices, cTrader provides an extensive range of tools for thorough market analysis. Its core advantage is in algorithmic trading, enabling users to design and deploy automated trading strategies.
TradingView
TradingView is one of our favorite trading platform. This trading platform provides the best trading interface and one of the best set of tools to analyze the markets and execute trades. This trading platform supports both web and mobile trading.
FP Markets is one of the few brokers supported by the TradingView trading platform, which is an advantage of using FP Markets.
Iress
The Iress trading platform is not popular as the previous trading platforms but doesn’t mean its bad. The Iress trading platform offers advanced charting, real-time market data, and technical indicators to help make informed trading decisions.
Suitable for trading forex, CFDs, and equities, Iress provides robust risk management features and customizable solutions. This platform is designed to help traders execute trades efficiently and stay ahead in the financial markets.
Mottai Platform
Mottai platform is another not so popular trading platform that prioritizes speed, user experience and customizability. This trading platform also provides all the necessary tools to analyze the market and execute trades.
Instruments Available For Trading
The FP Markets broker offers traders with 7 different asset classes. These are Forex, Shares, Commodities, Indices, Bonds, Crypto and ETFs. Across these asset classes there are over 10,000 tradable instruments.
Forex
FP Markets broker provides access to a diverse range of over 60+ Forex pairs, encompassing major currencies, cross-currency pairs, and exotic options. This broker provides relatively low spreads on Forex pairs compared to most other brokers.
Shares
FP Markets offers access to a diverse selection of Share CFDs, allowing traders to speculate on the price movements of shares from a wide range of companies listed on major stock exchanges worldwide.
Cryptocurrency
FP Markets provides traders with access to a diverse selection of Crypto CFDs, enabling speculation on the price movements of major cryptocurrencies, including Bitcoin, Ethereum, and other popular digital assets.
Commodities
This broker provides traders with access to a range of Commodity CFDs, allowing them to speculate on the price movements of precious metals such as gold and silver, energies like oil and natural gas, and other key commodities.
Indicies
FP Markets broker offers traders access to a range of major global indices such as AUS200, UK100, and US100, allowing them to speculate on the overall performance of these key markets.
ETFs
This broker provides traders access to range of ETFs. These include ETFs such as iShares MSCI ACWI ETF, Vanguard Total Bond Market ETF, SPDR Gold Shares ETF, and many others covering various sectors and asset classes.
Regulations
FP Markets Broker is a highly regulated broker that is regulated by 6 different Regulators across 6 different countries. FP Markets Broker is regulated by
- Australian Securities and Investments Commission (ASIC)
- Cyprus Securities and Exchange Commission (CySEC)
- Financial Services Authority (FSA) in Seychelles
- Financial Services Authority (FSA) of St. Vincent and the Grenadines (SVG)
- Financial Sector Conduct Authority (FSCA) in South Africa
- Capital Markets Authority (CMA)
Live Trading Account Types
The FP Markets broker provides 4 main account types for live trading. These are,
- Standard Account
- Raw Account
- IRESS Account
- Islamic account
The standard account and the raw account is main accounts for retail traders. There are two types of Iress accounts for retail traders and professional traders.
Commissions And Spreads
The commissions and spreads depends on the account type. For the standard account, the spreads are around 1 pip and no commission is charged. For the raw account, the spreads starts from 0.0 pips for forex pairs and the commission charged is $3 per side.
The table below shows the comparison of FP Markets broker with other brokers for the low spread account.
| FP Markets | Fusion Markets | Exness Broker | |
| Commission | $3.0 per side | $2.25 per side | From $0.05 per side |
| Spreads | from 0.0 pips | from 0.0 pips | from 0.0 pips |
As seen from the comparison the commission charged by the FP Markets account is low but not the lowest in the industry.
Leverage
The FP Markets broker provides a leverage of up to 1:500. The table below shows the comparison of this leverage with other brokers.
| FP Markets | FBS Broker | Exness Broker | |
| Leverage | 1:500 | 1:3000 | 1:2000 |
As seen from the table, the FP Markets broker is not the best for high leverage trading.
Education Provided
The FP Markets broker provides basic trading education. These include articles, webinars, ebooks, podcasts and other educational videos. The figure below shows a part of the trading education provided by the FP Markets broker.
Minimum Deposit
To open an account with the FP markets broker you require a minimum deposit of $100. This is high compared to many other brokers who doesn’t require a minimum deposit to open an account.
Awards
FP markets broker is an award-winning broker, recognized by multiple organizations. In 2019, FP Markets was named the Best Global Forex Value Broker at the Global Forex Awards.
Methods Of Payment (Deposit and Withdrawal)
There are several deposit and withdrawal options provided by the FP Markets broker. These are credit/debit cards (Visa and Mastercard), bank transfers, PayPal, Neteller, and Skrill. It is important to note that not all these methods are available in every country.
Customer Service
When it comes to customer support, the FP Markets broker provides traders with 24/7 customer service. Traders can contact the FP Markets broker customer support through multiple contact methods. These are:
- Live Chat
- Phone
Demo Accounts
FP Markets provides free demo accounts where you can practice forex trading with virtual funds in a risk-free environment. It’s an excellent opportunity to gain hands-on experience and test your trading strategies without any financial risk. It is important to note that almost all the brokers provide demo accounts for traders.
Pros & Cons
The table below shows the Pro’s and Cons of the FP Markets broker
| Pros | Cons |
| Well regulated | Low Leverage |
| Low fees | High minimum Deposit |
| Good selection of financial instruments |
Is this broker legit?
Yes, the FP Markets broker is a legit broker that is regulated by top tier regulators.
FP Markets broker also provide great features for traders as well.
FP Markets Alternative Brokers
FP Markets is a good broker but there are better alternatives to the FP Markets broker depending on your needs. They are the following.
- Fusion Markets – Fusion Markets provides traders with much lower fees than the FP Markets broker.
- BlackBull Markets – BlackBull Markets provides traders with faster execution speeds and more tradable instruments than the FP Markets broker.
- FBS Broker – FBS Broker is a great broker that provides retail traders, depending on the country, with high leverage of up to 1:3000. Much higher leverage than the FP Markets broker.
Our Evaluation Methodology
We assess brokers through a comprehensive rating system that involves examining more than 100 data points across key categories. Our approach includes the following:
- Trust and Regulation – We verify each broker’s regulatory status and licenses to ensure they operate under the supervision of credible financial authorities, ideally tier 1 regulators.
- Cost Analysis – We scrutinise trading fees and compare them against industry standards by setting up and trading within live accounts.
- Platform Performance – We evaluate the trading platforms’ functionality, user interface, and available tools by conducting hands-on testing.
- Instrument Availability – We assess the diversity and range of tradable assets offered by each broker.
- Customer Service – We test the accessibility and competence of customer support by reaching out via various channels.
- Transaction Methods – We review the deposit and withdrawal options, focusing on fees and processing times.
- Account Variety – We analyze the different account types, considering their features, minimum deposit requirements, and execution methods.
- Educational Resources – We examine the quality and breadth of educational materials provided to help traders improve their knowledge and skills.
Conclusion
In this article, we reviewed FP Markets broker in depth to determine its legitimacy. We concluded that FP Markets is indeed a legitimate broker that offers great features for traders but is not ideal for those seeking high leverage trading.
