- Low fees
- Competitive Spreads ( ECN RAW )
- Trusted Regulated Broker by ASIC and CYSEC
- Over 10,000 CFD shares to trade
- No FCA regulated broker
- Spreads from 1.0 pips with Standard Account
80.84% of retail CFD accounts lose money
Broker Name::FP Markets
Type of Broker::Forex / CFD broker
FP Markets Review 2024
MT4, MT5, Web based, iOS and Android
ASIC, CySEC, and FSCA
Max. Leverage (Retail):
1:30 (EU/AU) – 1:500
Max Leverage (PRO):
Demo, Standard, ECN Raw, Islamic
Forex, CFDs (metals, shares, commodities, indices, and crypto*)
From 0.0 pips
From 0.0 pips
From 0.0 pips
From 0.0 pips
What is FPMarkets?
The brokerage firm FP markets ( an abbreviation for First Prudential Markets) is one of the most prominent CFD and Forex brokers in Australia and they’ve earned a very good reputation. With 13 years of experience to show for, FPmarkets has grown over the years to include +10,000 financial products including currency pairs, equities, indices, commodities as well as for cryptocurrencies. However, the company is best known for developing industry relationships with major Forex liquidity providers and offering a world-class service in the global currency markets.
FpMarkets is an award-winning broker with 35 industry awards from the top publications and organizations, including Investment Trends, Smart Investor, Money Magazine, The Bull, 5 Stars from Canstar Cannex, and many more. Especially, as a Forex trader, you should be happy to know that FP Markets received the award for having most satisfied clients for the last six consecutive years. Also, The Bull regarded Fp markets as the best Warrants Broker.
While there are several top-ranking Forex brokers operating in Australia, what sets Fpmarkets apart is their stellar customer service and fast trade execution. In fact, we found that their true ECN trading platform offers some of the lowest spreads in the Forex industry.
Based in Sydney, This financial firm is located on Level 5 of the Exchange House at 10 Bridge Street. As an Australian Forex broker, the company is also registered with and regulated by the Australian Securities and Investments Commission (ASIC) with AFS Licence No. 286354, and CySEC ( Cyprus, EU ). They accept clients from all over the world except the United States, Japan and New Zealand.
How does FP Markets work?
You can trade over 10,000 forex and CFD instruments on Metatrader 4 & 5 and web-trader platform. FP Markets combines state of the art technology with low-cost true ECN pricing and a huge product offering to create a genuine destination for all types of traders. ASIC regulated in Australia, traders can access thousands of products with flexible leverage. Small starting deposits mean you can trade Forex with as little as $100.
Regulation & Trust
Is FPMarkets legit and a regulated broker?
It certainly is. FP Markets has been an ASIC regulated forex broker since 2005 in Australia. Being an AU regulated, they are required to keep segregated accounts for their client’s funds. The strict regulatory oversight of the Australian Securities and Investments Commission (ASIC) has prompted most law-abiding Forex brokers to find a home in Australia.
In 2029, they got a license from CySEC ( Cyprus Securities & Exchange Commission) to allow them to accept clients from the European Economic Area ( EEA ).
All clients funds are held in tier 1 Australian banks such as National Australia Bank and Commonwealth Bank of Australia.
Trading Platforms & Tools
Does FPMarkets use MetaTrader?
Yes, but not only have traditional desktop-based trading platforms like the MetaTrader 4 & 5, but they also offer cloud-based trading platforms, then Fpmarkets got you covered. Their web trader platform looks almost identical to the popular Mt4 software package and we found its functionality closely matches the desktop version.
The easy to use web-based trader platform also comes with all the popular technical analysis indicators, including RSI, Stochastics, and MACD. In fact, if you are a casual trader, you will hardly feel the need for downloading and installing the desktop version as all the trading functions can be performed through its online trading interface.
Besides offering the MetaTrader software package, they also provide traders with the IRESS trading platform that comes with a comprehensive selection of real-time intervals, advanced charting tools and 59 technical indicators that you can utilize to complete the most in-depth technical analysis of price movements.
Besides developing a user-friendly trading platform for desktop users, Fpmarkets also offers the IRESS mobile trading apps for both Android and Apple phones. Well, if you are familiar with the MetaTrader 4 smartphone apps, you can also download it from the Google Playstore and log in using your MT4 platform credentials.
Free VPS Services
They provide free VPS forex hosting services ( MT4 & MT5) to all customers upon request. They require to make a minimum deposit of $500 or 10 traded lots on Standard accounts, or 20 lots on RAW.
How many assets can be traded at FP Markets?
They offer over 10,000 instruments to trade including Forex and CFDs (commodities, cryptocurrencies, indices, international future and equity), all accessible from one account.
- Forex/Currencies: +50 fx pairs including GBP/USD, EUR/USD, and USD/JPY.
- Metals: Gold and Silver ( XAUUSD, XAUAUD, XAGUSD and XAGAUD).
- Commodity CFDs: 6 ( WTI, XAU, XAG,..).
- Cryptocurrency CFDs: 5 ( Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin ).
- Index CFDs: 20 ( Nasdaq 100 E-Mini, Nikkei 225, S&P 500, DAX,..).
- Share CFDs ( Equity): Over 10,000 stocks
- International future CFDs.
What about Spreads & Commissions with FP Markets?
In regard to spreads, the Standard Account starts from 0.1 pips ( GBP/USD pair ), however, the average spreads are around 1.0 pip for most popular currency pairs, with no commission.
By contrast, the RAW ECN account they charge spreads starting from 0 pips ( EUR/USD pair), with AUD$3.5 (USD $3) commission per lot per trade.
Regarding cryptocurrencies, the average spread for BTCUSD is 7.66.
What are its fees?
They don’t have inactivity and account fees.
What is their max leverage in FP Markets?
You can use up to 500:1 leverage with both types of accounts offered by FP markets. Please note this high leverage could be very risky trading for some small investors.
How fast is their execution Speed?
Their speed is fast with low latency execution, with their MT4 servers based in the USA and the UK.
Type of Accounts
Which account types do FP markets provide?
FPMarkets provide forex and CFD trading accounts.
FP Markets offers only two types of Forex trading accounts for their clients, but both offer all the features a trader can ever dream about!
The standard account offered by FP markets includes STP pricing and does not charge any commissions. On the other hand, they apply the ECN pricing model to the ECN RAW accounts and charge only AU$ 3.5 per standard lot (100,000).
The good news is that both accounts come with VPS, mobile apps, and the ability to run Expert Advisors or Forex robots. Moreover, you can trade as low as 0.01 lot in both types of accounts.
Regarding Iress trader accounts, they offer 3 types of CFD accounts: Standard, Platinum and Premier, starting from $1,000 min. deposit, and $10 min brokerage rate.
Is FP Markets offering a demo account?
Yes, they offer a free $100K demo account on MT4.
Forex Islamic Accounts: They provide Swap-Free Accounts?
FP markets provide forex Islamic accounts, or swap-free accounts, to those customers following the Muslim faith who are unable to receive o pay swaps. Their Islamic account is 100% compliant with Sharia law.
How to Open Account with FP Markets?
Opening an account with FPmarkets is very simple. Just click on the blue button “Open Live” at the top and follow the steps. The registration application is just 5 steps, including personal details, platform, and base currency.
In order to activate your account, you should submit a proof of identity document (passport, government ID or driver’s license) and proof of address (utility, phone, internet or bank statement).
Deposit and Withdrawal Methods
You can make the first deposit without incurring any credit card fees from Visa or MasterCard. However, subsequent deposits using credit cards will be charged a 3.18% transaction fee. As a major Forex broker, they have partnered with a number of online payment providers, including e-wallet providers like Neteller, Skrill, POLi, AstroPay, and China-based Online Pay. If you are in Australia, you can also use BPAY.
Besides credit card and various e-wallets, you can also deposit to your FP markets Forex trading account using wire transfers via your local bank account in Australia or send an international wire transfer using the SWIFT network.
If you wish to make a withdrawal, you can easily use the online account portal of them to request any sums and it will be processed promptly.
What is the minimum Deposit in FP Markets?
Keep in mind that while the minimum deposit requirement for the Standard or RAW forex account ( Metatader 4 / Metatrader 5 ) is only $100 Australian Dollars, you will need to deposit a minimum AU$1,000 or equivalent in order to open the IRESS CFD account.
Research & Education
Does FP Markets offer Free education?
Yes, they provide a wide range of educational tools, including webinars, trading ebooks and video tutorials.
Also, great research news and forex analysis can be found on their website and YouTube channel for both first time traders and professionals.
FP Markets is not able to provide bonuses or promotions due to regulatory restrictions.
They currently have offices in Sydney, Shanghai, and Beijing and you can reach the customer support by calling at + 61 2 8252 6800 in Australia. However, if you don’t need urgent support, you can also directly email them at firstname.lastname@example.org
As we mentioned earlier, Fpmarkets’ primary office address is located in Australia and you can visit them in the following address:
Level 5, Exchange House
10 Bridge St
Sydney, NSW 2000
It’s available in English, Spanish, Arabic, German, Portuguese, Vietnamese, Indonesian, French, Malay, Italian and Chinese.
FP Markets Review: Summary
Fpmarkets is unique among Forex brokers situated in Australia because of its long history of providing the absolute best customer support in the industry.
While a lot of Forex brokers try to lure clients by offering huge promotional offers, They only offer a 10% credit bonus and try to make up for it by giving super-fast trade executions. However, if you use automated trading strategies and host your trading EAs on a VPS, Fpmarkets will gladly reimburse you the cost of hosting the VPS. Moreover, They offer a $100 bonus for referring a new client to them.
Although Fpmarkets is a relatively old company, they have kept the pace of innovation. Over the last year, they have designed and introduced some of the best Forex products in the market and their trading platform offerings utilize some of the most cutting-edge technology in the industry. Whether you are new to trading Forex or a seasoned trader, they should be able to offer you the right platform to meet your Forex trading needs.
Authors of this FP Markets review
Market Analyst / Trading Consultant . Asif worked as a prop trader for almost a decade, and later he managed trading operations for one of the largest foreign exchange strategy developers in Europe. Currently, he works as a trading consultant to several brokers and writes about various tech and financial topics. You can reach him at email@example.com
John Stuart is the editor’s chief of BrokerTrending and our expert broker. He has been in the online trading business for over 12 years, and he knows everything there is to know about the stock and forex market. When he’s not giving advice to the top investors, John can be found spending time with his wife and two children.