FP Markets review Is it legit or scam forex broker?

So, if you need fund your account, withdraw or make any changes in the admin panel then you will have to do this through their online portal. If you are going to be away from your PC then you will no doubt want to make use of the mobile apps on offer. So, if you are a trader that is quite active and is looking for additional tools to supplement your trading then upgrading to the Viewpoint or Trader is probably your best bet. If you want to create an account like this then you will have to first open an MT4 account and then get it converted into an Islamic account. This is done by contacting customer service who will switch it over manually.

New traders will have to click on the “Start Trading.” button at the top of the page, where they will be directed to register an account. Professional account-holders should be aware that they waive some of the privileges afforded to retail clients, including no compensation under the Investor Compensation Fund. We are also impressed that in addition to MT4 and MT5, cTrader is also available. FP Markets is now one of a handful of brokers that has such a good platform offering.

The broker fee on this account is 10 USD minimum, and then 0.1% thereafter. The IRESS Trader fee of 55 USD is waived if you generate 150 USD in commission/month. It also provides access to competitive DMA commission and margin rates. Trading costs at other brokers tend to be around 9 USD per lot of EUR/USD, so the Standard Account’s trading costs are average. But the costs are low on the Raw Account, which has a round turn commission of 6 USD and much tighter spreads. Please bear in mind that trading with leverage involves a higher degree of risk, and traders should use it wisely and with caution.

They have also been recognised by a number of industry bodies and have won numerous awards from the Investment Trends Reports. FP Markets is based in Sydney Australia and was established in 2005. They are the brokerage arm of First Prudential Markets and are located at Level 5, Exchange House, 10 Bridge Street. They also have a regional head office in Beijing and a representative office in Shanghai.

FP Markets Trading Platform Tutorials

MetaTrader 5 is a multi-asset platform suitable for trading in the Stocks and Futures markets too. It is a multi-asset platform that allows trading Forex, stocks and futures, and it also offers superior tools for comprehensive price analysis. FP Markets non-trading fees include a variety of FP Markets brokerage fees and charges that a trader will pay which are not related to buying and selling assets using the FP Markets trading platform. The most common non-trading fees include FP Markets withdrawal fees, FP Markets deposit fees and FP Markets inactivity fees. The majority of FP Markets trading fees, commission is either a flat fee per trade or calculated based on the number of traded shares.

https://traderoom.info/ also has more Forex pairs than is usually available at other brokers. The MT4 platform is well-known for its user-friendly interface and extensive range of analytical tools, making it a popular choice among traders of all levels. The MT5 platform is an upgraded version of MT4, offering additional features such as more timeframes, additional order types, and advanced technical analysis tools. In addition, the demo accounts are unlimited, meaning that traders can practice for as long as they want without any time restrictions. When it comes to FP Markets’ account types, there are a few important things to consider. Firstly, it is worth noting that the available account types depend on which trading platform you choose to use.

And then they’ll decide whether you’ll stay in A Book or B Book. I regret that we provided you with a poor customer experience, it is the exact opposite of what we pride ourselves on. Meanwhile it’s 5 stars to them for the fast processing of my withdrawal. FP Markets review – Regulations, Trading Platforms and instruments, Pros and Cons. The longer the track record of a broker, the more proof we have that it has successfully survived previous financial crises. Technical indicators along with other editor tools, like trendlines or Fibonacci retracement.

The company offers its services to traders from around the world and provides access to over 10,000 financial instruments across multiple asset classes. FP Markets is known for its advanced trading technology, competitive pricing, and exceptional customer support. FXTM is a dynamic, award-winning forex broker that offers exceptional online trading services and products to institutional and retail clientele from around the world.

How to open an FP Markets Account – A Step-by-Step Guide

There is a toll-free UK number that users can call when an issue simply cannot wait. However, if you’re not in an immediate hurry, you can fill a basic webform with your query and an agent will call you back. Phone support is fast too with calls answered within minutes and we got a call back from our request within a couple of hours. We noted during our review of FP Markets that a swap-free Islamic account is also available.

So always make sure to learn better under which entity you trade and what protection conditions and privacy policy applicable to you. Please note that by investing in and/or trading financial instruments, commodities and any other assets, you are taking a high degree of risk and you can lose all your deposited money. You should engage in any such activity only if you are fully aware of the relevant risks. BrokerChooser does not provide investment or any other advice, for further information please read our General Terms and Conditions.

The company is also registered with the Financial Services Authority in St. Vincent and the Grenadines for a global reach. Both these regulators are top-tier regulators and Australia has some seriously strict laws regarding offering financial services. In Australia, there is no investment protection in place, but European traders enjoy an investor protection of up to €20,000. Countries under the CySEC coverage also receive negative balance protection.

Opening an Account at FP Markets

However, in a show of good faith, fp markets review segregates all funds from the company’s operating capital at AA-rated Australian banks, and it offers negative balance protection to all its clients. Overall, the educational resources provided by FP Markets are comprehensive and easily accessible to traders. The broker’s commitment to educating its clients is commendable, and it shows that it values the success of its clients. However, some traders may find that resources are not sufficient for their needs, and may require more personalized educational support.

For example, a long position on gold would generate a profit as the price rises or incur a loss as it falls. This is achieved without having to purchase actual bars of gold. One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative. There is a watch list of selected instruments on the left side of the screen, an options menu at the top of the screen, and a charts window in the middle. Traders can promptly find their way around the platform, and the inclusion of features such as one-click trading makes the execution of trades even easier.

FP Markets Trading Platform Features

This information will allow you to know if a broker can provide full support when you need it. Unlike MT4, which has only 9 timeframes, MT4 consists of an impressive 21 different timeframes, which is arguably its standout feature. This variety affords traders a multifaceted outlook on price action behavior. It is quite important for the implementation of multi-timeframe strategies – from scalping to position trading.

• By providing customer support through multiple languages, the company understands all the issues faced by its clients.
• For CFDs trading, there is a choice of 3 different types of accounts namely the Professional account, the Platinum account and the Premier account.
• It is regulated by the Australian commission and the Cyprus commission, which protects its clients from scams or frauds.
• If the client is investing high volumes, the broker offers a premium service that offers more to the client.
• A withdrawal fee of 10 AUD is charged, and withdrawals are processed within one business day.
• FP Markets beats its immediate competitors with its strong stock CFD offering.

FP Markets takes traders from a number of different regions and countries. They have translated their website into another 11 different languages. Thus FP Markets broker is one identity which has been reported to be a scam broker.

FP Markets Financial Regulation When Trading

The bulk of FP Markets’ research materials can be accessed on its YouTube channel. First Prudential Markets Ltd accepts clients from European Economic Area member countries . The list of restricted countries includes Belgium, the United States, and New Zealand. For more general queries, you can turn to the very practical FAQ section of FP Markets’ website.

The broker is also very transparent, with competitive fees suitable for the execution of both high-volume and high-frequency trading strategies. Listings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation. This may impact how, where and which products / companies / services we review and write about. This page may not include all available products, all companies or all services.

Our review of FP Markets revealed two Copy Trading platforms – Social Trading and Myfxbooks Autotrade. Copy trading is a simple platform that allows any trader to follow the trades of more experienced traders on the MetaTrader 4 or 5 platform. Myfxbooks Autotrade is a premium service that is available in the UK and traders will be able to access advanced copy trading strategies.

Feel free to drop us an email at if you have any other questions. Furthermore, you can have up to 10 live accounts under your profile. Kindly note that Swap free account are only offered to client who profess Muslim faith. FP Markets celebrates its 17th year anniversary and continues its award-winning streak by receiving the “Best Trade Execution” award.

Similarly, the average spread on the EUR/AUD pair is 0.8 pips for Raw ECN traders, while Standard account holders can trade with 1.9 pips. For CFD indices, FP Markets offer a spread ranging between 0.2 pips to 2.21 pips on Australia 200 index Cash . Meanwhile, the CFD index of US 30 Index Cash gets a spread ranging from 0.4 pips to 5.49 pips. FP Markets online FX broker does not charge fees on the withdrawals. Money withdrawn by clients from the FP Markets platform is not subject to any processing charges. Multiple withdrawal methods ensure client payments are provided quickly and securely.

FP Markets is an Australian-based online brokerage firm that offers various trading instruments including forex, shares, indices, metals, and cryptocurrencies. The company was founded in 2005 and is regulated by the Australian Securities and Investments Commission and the Cyprus Securities and Exchange Commission . FP Markets provides clients with access to multiple trading platforms including MetaTrader 4, MetaTrader 5, and IRESS. The standard account is designed for novice traders, while the Raw account is intended for more experienced traders who require tighter spreads and faster execution speeds. In addition, the company offers Islamic accounts, as well as a free demo account for traders to test their strategies in a risk-free environment. The key tradable assets supported by FP Markets include forex currency pairs and CFDs.

The broker provides industry-leading spreads, which dip down to the lowest at 0.0 pips during the liquidity time of the markets. FP Markets trading platform offers competitive spreads for forex pairs and CFD indices. As of October 2020, the average spread on the AUD/USD pair is 1.31 pips for Standard traders and 0.21 pips for Raw ECN traders.

An advanced range of order management tools helps traders in monitoring their positions at every moment. The MT4 trading platform can improve the trading abilities of the users, particularly in the forex markets. It also supports CFDs and Spread Betting, but its capabilities in trading stocks, commodities, and indices are quite nascent. The platform does not help traders in buying proprietary assets. Instead, it can speculate price movements accurately through multiple formats. It also runs an independent web platform, which is a downloadable application for Windows and Macintosh devices.

Furthermore, to the withdrawal request, we do apologize for the inconvenience caused and inaccuracy. Please be informed that the funds have been processed accordingly and most likely you have already received the funds. At FP Markets, customer satisfaction is something we strive to continuously improve on to ensure all clients receive the assistance they require.

FP Markets stock traders look to profit from the short-term market developments by selling stocks for a profit or buying stocks at a cheap price on FP Markets. Stock traders on FP Markets conduct significant study, frequently dedicating several hours every day to market monitoring using FP Markets trading tools. FP Markets swap free accounts do not accumilate interest and FP Markets transactions are actioned immediately.