FPMarkets Review

FP Markets is an online and CFDs provider launched in 2005. They are headquartered in Australia and are regulated by ASIC.

FP Markets offers traders the opportunity to trade a wide range of instruments mostly wrapped as CFDs (Contracts for Difference), offering over thirteen thousand(!) tradable instruments, including an incredible selection of over thirteen thousand individual shares quoted in leading global markets. In addition to individual shares FP Markets offers trading in over 50 Forex currency pairs and crosses, the gold, silver, and WTI Crude Oil, 5 cryptocurrencies, and 11 major global equity indices. Maximum leverage (on Forex) is a very high 500 to 1 although this requires more than the minimum deposit to achieve. For example, placing the minimum deposit of $100 gives a maximum leverage of 100 to 1, while a deposit of $500 is required to secure a maximum leverage of 500 to 1.

Accounts

FP Markets differs from most brokers in offering clients ECN pricing, allowing the opportunity of fast execution and natural spreads. A choice between account types is offered depending upon whether you want to trade Forex, CFDs, or individual shares.

Forex traders are offered a choice between a Standard account and a Raw account. The Forex Standard account requires a minimum deposit of $100 AUD or equivalent, and offers spreads starting from 1.0 pip, with no commission.
The Forex Raw account requires a minimum deposit of $100 AUD or equivalent and offers spreads from no minimum, but a commission of AUD $3.50 is charged per lot per trade.
An Islamic account and a VPS are also available.

CFD traders are offered a choice between three account types. The Standard account requires a minimum deposit of $1,000. A minimum brokerage fee of $10 per month is charged (or 0.1% of trade size, whichever is higher). Overnight financing is at RBA + 4%, and the $55 GST fee per month is waived if the trader generates at least $150 of commission in a month. The $22 monthly GST fee for ASX data is waived if the trader generates at least $50 of commission in a month. The Platinum account requires a minimum deposit of $25,000.  A minimum brokerage fee of $9 per month is charged (or 0.09% of trade size, whichever is higher). Overnight financing is at RBA + 3.5%, and the $55 GST fee per month is waived if the trader generates at least $150 of commission in a month. The $22 monthly GST fee for ASX data is waived if the trader generates at least $50 of commission in a month. Finally, the Premier account requires a minimum deposit of $50,000. A brokerage fee of 0.08% of trade size is charged, with no minimum flat fee. Overnight financing is at RBA + 3%, and the $55 GST fee per month is waived unconditionally.

All accounts offer a minimum trade size of 1 micro-lot (0.01 full lots).

Scalping and hedging are allowed, and automated trading is possible. This combination of advantages is something that is increasingly hard to find.

There is a choice of trading platforms, with clients offered a choice between , MetaTrader 5, and the iressTrader platform.

Features

An extremely wide range of assets are available for trading, particularly ishare CFDs. Over thirteen thousand shares may be traded, primarily those quoted on major global exchanges mostly within the U.S.A., Australia, Hong Kong, and the U.K.

Traders may trade Forex, indices and commodities as well as individual equities. The MetaTrader 4 and 5 platforms will be more suitable for Forex / CFD traders while the iress platform will be most suitable for clients wishing to trade equities, although it is possible to trade all the instruments offered by FP Markets through iress.

As of January 2020, FP Markets is offering traders access to the Autochartist suite of trading tools. This service is a wonderful addition to the broker’s offerings, as it allows traders maximum control over their trading activity. Autochartist is a great tool to help with risk management and to give traders visual indicators in real time to help them better understand the market and where it will likely be moving. FP Markets’ Autochartist package is available for both mobile and web-based traders.

Education

FP Markets offers an extensive education section on their site, including a selection of tutorials and webinars. And eBooks. Three separate specialized courses are offered for beginner, intermediate, and advanced traders. The courses are simply static texts covering some of the basics of trading. The video tutorials are mostly recorded weekly market analysis. There is also a blog section that houses interesting market developments.

In February 2020, fpmarkets expanded its education center by offering daily technical and fundamental analysis as well. The brokerage also rebranded its educational center as “The Traders Hub” as a way to tie in all aspects of its educational offerings under one umbrella. If the section continues to be updated regularly by in-house professional traders, it will provide this brokerage with yet another edge over the hundreds of Forex brokers that do not offer in-house market research.

Bonuses and Promotions

The best promotion offered by this brokerage is a free VPS. To request a free VPS, traders must either deposit a minimum of $500 or trade over 10 lots on a standard account, or 20 lots on a Raw account. The VPS is provided with the broker’s dedicated server.

Deposits/Withdrawals

Depositing funds into a FP Markets account is an easy and secure process. Both may be made using a few different methods, including credit cards, debit cards, bank transfer, Neteller, FasaPay, Online Pay, POLi, PayPal, BPay, Paytrust88, NganLuong.vn, Broker to Broker and Skrill. Withdrawals are generally made through the same channel that deposits have been made through. FP Markets adds no charges of their own to any fees which may be charged by such payment processors.

Customer Support

Customer support is based in Sydney, Australia, and is available 24/5.

Conclusion

FP Markets has a well-rounded and professional offering for traders looking to trade a very wide range of assets in the form of CFDs, particularly in Forex, by use of an ECN/STP pricing model. There’s no question that this broker could be an especially attractive broker for clients with relatively small deposit size who wish to benefit from solid execution and a low spreads / commissions model. Higher-volume traders may negotiate volume-based commission discounts.

 

Features

In terms of features, the stand-out strengths of FP Markets offering are:

• An incredibly wide range of instruments available for trading: over thirteen thousand instruments across the asset classes of Forex currency pairs, global equity indices, gold, silver, crude oil, and individual stocks and shares. The vast majority of the offering is in individual stocks & shares.
• Competitive spreads for larger depositors.
• Maximum leverage as high as 500 to 1.
• Choice of Swap-Free account types (Islamic account).
• Regulated by a major industry center (ASIC).
• FP Markets is a well-established firm with an earned reputation to protect.

 

Platform

MetaTrader4 – Webtrader and Desktop

The MetaTrader 4 is an independent trading platform, developed for trading FX, commodities and other products and is one of the most advanced and easy platforms to use. It remains the gold standard of trading platforms.

In addition to the wide range of markets available to trade, the MT4 platform provides traders with a multilingual interface, instant execution, built in help guides for MT4 and MetaQuotes Language 4, a complete technical analysis package including a wide range of in-built indicators and charting tools, various custom indicators and time periods and more.

Automated trading is also offered through the MetaTrader 4 platform where traders can create and test their automated trading strategies by using the MetaEditor, Strategy Tester and Compiler tools within the MT4 platform.

With this automated trading system clients may create Expert Advisors, software programs enabling traders to constantly monitor the markets. Custom Indicators help traders to predict future price movements by analyzing past and current price information. And the Scripts feature gives traders the opportunity to set up an automatic repetition of specific operations such as closing all positions with a single keystroke.

MetaTrader Mobile

The MetaTrader 4 and platform apps can be used on iPhones, iPads, Multi-Terminal, and all Android devices.

MetaTrader 5 – Webtrader and Desktop

Traders may use MetaTrader 5 as an application or as a web-based browser, the cutting-edge improved trading platform. The MetaTrader5 offers increased work speed, powerful programming environment MQL-5, enhanced security and data encryption, advanced technical analyses, the ability to buy Stop Limit and Sell Stop Limit deferred orders and more.

MetaTrader Mobile

The MetaTrader 5 platform application can be used on iPhones, iPads, Multi-Terminal, and all Android devices.

IRESS

In early 2017 iress launched its upgrade to the iress trader platform built on efficient HTML5 code. The new platform provides multi-product execution and access to level 2 exchange data as standard. The new fluid and intuitive interface design coupled with major upgrades to charting and analytic tools cements Viewpoint as the future of trading systems. The platform is most suited to trading equities.

Key Features:

HTML 5 technology supported on all major web browsers

Compatible for Windows or MAC

Real time, dynamic market data

High performing tools

Advanced charting

Module linking

Highly customizable interface

Intuitive and easy to use

 

General Information