FP Markets Review: A Comprehensive Look at a Leading Forex and CFD Broker

FP Markets Overviews

FP Markets is a well-established Forex and CFD broker, regulated by top-tier authorities like ASIC and CySEC since 2005. They offer a wide range of trading platforms including MetaTrader 4, MetaTrader 5, and Iress, catering to various trading strategies and styles. With competitive spreads starting from 0.0 pips, FP Markets provides access to a vast array of trading instruments, including over 10,000 global stocks and major currency pairs. They emphasize strong customer service, advanced trading tools, and a robust educational support system.

Pros and Cons

Is FP Markets Safe? Broker Regulations

FP Markets operates under stringent regulatory frameworks to ensure a secure trading environment for its clients. The broker is regulated by several reputable authorities:

• Australian Securities and Investments Commission (ASIC): FP Markets holds an Australian Financial Services Licence (AFSL) No. 286354, authorizing it to provide financial services in Australia.
• Cyprus Securities and Exchange Commission (CySEC): The broker is licensed under CySEC, allowing it to offer services within the European Union.
• Financial Sector Conduct Authority (FSCA): FP Markets is regulated by the FSCA in South Africa, further extending its regulatory oversight.

These regulatory bodies enforce strict standards, including capital adequacy requirements, client fund segregation, and regular audits, ensuring that FP Markets adheres to high levels of financial integrity and transparency.

Security Measures

FP Markets implements several security protocols to protect client assets and personal information:

• Segregation of Funds: Client funds are held in segregated accounts with top-tier banks, ensuring they are separate from the company’s operational funds. This practice safeguards client money in the unlikely event of the company’s insolvency.
• Data Protection: The broker employs advanced encryption technologies to secure personal and financial data, preventing unauthorized access and ensuring data integrity.
• Regular Audits: FP Markets undergoes regular audits by external firms to ensure compliance with regulatory standards and to maintain transparency in its operations.

These measures collectively contribute to a secure trading environment, reflecting FP Markets’ commitment to client safety and regulatory compliance.

What Can I Trade with FP Markets?

FP Markets offers a comprehensive range of trading instruments across multiple asset classes, providing traders with diverse opportunities to engage in global financial markets.

Forex: Traders can access over 60 currency pairs, including major, minor, and exotic pairs, facilitating participation in the world’s largest financial market.

Shares CFDs: FP Markets provides Contracts for Difference (CFDs) on more than 10,000 shares from global exchanges such as NASDAQ, NYSE, and ASX, allowing traders to speculate on stock price movements without owning the underlying assets.

Commodities: The broker offers trading in a variety of commodities, including precious metals like gold and silver, energy products such as oil and natural gas, and agricultural commodities like coffee and corn.

Indices: FP Markets provides access to 19 major global indices, enabling traders to speculate on the performance of stock markets across different regions.

Metals: In addition to precious metals, traders can engage in markets for other metals, offering further diversification opportunities.

Bonds: FP Markets offers trading in bond CFDs, including instruments like the US 10-Year Treasury Note and the UK Long Gilt, allowing traders to speculate on interest rate movements.

Futures: The broker provides access to futures contracts on various assets, enabling traders to hedge or speculate on future price movements.

This extensive selection of tradable instruments allows FP Markets to cater to a wide range of trading strategies and preferences, making it a versatile platform for both novice and experienced traders.

How to Trade with FP Markets?

Trading with FP Markets involves a straightforward process designed to accommodate both novice and experienced traders. Below is a step-by-step guide to getting started:

1. Account Registration:

• Visit the FP Markets Website: Navigate to the official FP Markets website and click on the ‘Open Live Account’ button.
• Complete the Registration Form: Provide the required personal information, including your name, email address, and contact details.
• Select Account Type: Choose between Standard and Raw accounts, depending on your trading preferences.
• Verify Identity: Upload necessary identification documents to comply with Know Your Customer (KYC) regulations.

2. Platform Selection and Setup:

• Choose a Trading Platform: FP Markets offers multiple platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and Iress.
• Download and Install: After selecting a platform, download it from the FP Markets website and install it on your device.
• Login Credentials: Use the credentials provided during registration to log in to the trading platform.

3. Funding Your Account:

• Access the Client Portal: Log in to the FP Markets Client Portal.
• Select ‘Funding’ Option: Choose your preferred deposit method, such as bank transfer, credit/debit card, or e-wallets.
• Deposit Funds: Follow the prompts to deposit funds into your trading account.

4. Placing a Trade:

• Market Analysis: Utilize the platform’s analytical tools to assess market conditions and identify trading opportunities.
• Open Order Window: In the trading platform, select the instrument you wish to trade and open the order window.
• Set Trade Parameters: Specify the trade size (lot), set stop-loss and take-profit levels, and choose the order type (market or pending).
• Execute Trade: Click ‘Buy’ or ‘Sell’ to execute the trade.

5. Monitoring and Managing Trades:

• Track Performance: Monitor open positions through the platform’s interface, which displays real-time data.
• Adjust Orders: Modify stop-loss and take-profit levels as needed to manage risk.
• Close Positions: When desired, close positions to realize profits or limit losses.

6. Utilizing Trading Tools and Features:

• Educational Resources: FP Markets provides webinars, tutorials, and market analysis to enhance trading knowledge.
• Automated Trading: The platforms support Expert Advisors (EAs) for automated trading strategies.
• Risk Management Tools: Features like negative balance protection help manage trading risks.

By following these steps and leveraging the tools and resources offered by FP Markets, traders can effectively navigate the trading process and make informed decisions.

How Can I Open FP Markets Account? A Simple Tutorial

Opening an account with FP Markets is a straightforward process designed to accommodate both novice and experienced traders. Follow this step-by-step guide to set up your trading account:

1. Visit the FP Markets Website:

• Navigate to the official FP Markets website.
• Click on the “Open Live” button located at the top right corner or the “Start Trading” button on the homepage.

2. Complete the Registration Form:

• Personal Information: Enter your first and last name, email address, and select your country of residence.
• Account Type: Choose between an individual or joint account.
• Contact Details: Provide your phone number and, if applicable, a referral code.
• Alternatively, you can sign up using your Google or Facebook account for convenience.
• Click “Save and Next” to proceed.

3. Provide Additional Personal Details:

• Date of Birth: Enter your birthdate.
• Address: Provide your full residential address.
• Financial Information: Specify your employment status, occupation, annual income, and source of funds.
• Click “Save and Next” to continue.

4. Configure Your Account Settings:

• Trading Platform: Select your preferred platform (e.g., MetaTrader 4, MetaTrader 5, or Iress).
• Account Type: Choose between Standard or Raw accounts based on your trading preferences.
• Base Currency: Select the currency for your account (e.g., USD, EUR, AUD).
• Leverage: Choose your desired leverage ratio, keeping in mind that higher leverage increases both potential profits and risks.
• Password: Create a strong password that meets the specified criteria (at least 7 characters, including one uppercase letter, one lowercase letter, one symbol, and one number).
• Confirm your password and click “Save and Next.”

5. Assess Your Trading Experience:

• Indicate your level of trading experience and knowledge.
• Review the terms and conditions by clicking the provided link.
• Tick the agreement box to accept the terms.
• Click “Accept and Open Account” to finalize the registration.

6. Account Verification:

• After registration, log in to the FP Markets Client Portal using your registered email and password.
• Document Upload: Navigate to the “Profile” section and select “Document Upload.”
• Proof of Identity: Upload a clear, colored copy of a valid ID (e.g., passport or driver’s license).
• Proof of Address: Provide a recent utility bill or bank statement displaying your full name and address.
• Ensure the documents are legible and not older than three months.
• If you encounter issues uploading documents, you can email them to [email protected].

7. Funding Your Account:

• Once your account is verified, log in to the Client Portal.
• Deposit Funds: Choose your preferred funding method (e.g., bank transfer, credit/debit card, e-wallets) and follow the instructions to deposit funds into your trading account.
• The minimum deposit amount is $50.

8. Start Trading:

• Download and install your chosen trading platform.
• Use the login credentials provided via email to access the platform.
• Begin trading by selecting instruments and placing orders as per your strategy.

By following these steps, you can efficiently set up and start trading with FP Markets. The broker’s user-friendly process ensures a seamless experience from registration to execution.

FP Markets Charts and Analysis

FP Markets offers a comprehensive suite of charting tools and analytical resources to support traders in making informed decisions.

Trading Platforms and Charting Tools:

• MetaTrader 4 (MT4) and MetaTrader 5 (MT5): These platforms provide advanced charting capabilities, including multiple timeframes, customizable indicators, and various chart types such as candlestick, bar, and line charts.
• TradingView Integration: FP Markets integrates with TradingView, offering traders access to an extensive range of technical indicators, drawing tools, and a user-friendly interface for in-depth market analysis.

Technical Indicators and Tools:

• Autochartist: This tool continuously scans the markets to identify chart patterns and key levels, providing real-time trading opportunities and enhancing technical analysis efficiency.
• Trading Central: FP Markets partners with Trading Central to offer automated fundamental and technical analysis, delivering insights and trade ideas to assist traders in their decision-making process.

Usability for Different Trading Styles:

• Beginner Traders: The intuitive interfaces of MT4, MT5, and TradingView, combined with educational resources, make it accessible for novice traders to learn and apply technical analysis.
• Advanced Traders: Experienced traders benefit from the extensive range of indicators, customizable charting options, and integration with sophisticated tools like Autochartist and Trading Central, facilitating complex analysis and strategy development.

By providing these robust charting and analytical tools, FP Markets caters to a wide spectrum of trading styles and expertise levels, enhancing the overall trading experience.

FP Markets Account Types

FP Markets offers a variety of account types to cater to different trading preferences and experience levels. Below is an overview of the available accounts:

Each account type is designed to meet specific trading needs, offering flexibility in terms of costs, leverage, and available instruments.

Do I Have Negative Balance Protection with This Broker?

Negative balance protection is a crucial feature that prevents traders from incurring losses exceeding their account balance, ensuring they do not owe additional funds to the broker. FP Markets’ provision of this protection varies based on the regulatory jurisdiction governing the client’s account.

Under CySEC Regulation:

Clients registered under the Cyprus Securities and Exchange Commission (CySEC) are afforded negative balance protection. This compliance with European regulations ensures that traders cannot lose more than their deposited funds, safeguarding them during volatile market conditions.

Under ASIC Regulation:

For clients under the Australian Securities and Investments Commission (ASIC), FP Markets does not offer negative balance protection. Traders in this category should exercise caution, as they may be liable for losses exceeding their account balance in extreme market scenarios.

Under FSA Regulation:

Clients registered under the Financial Services Authority (FSA) of St. Vincent and the Grenadines are not provided with negative balance protection. Similar to ASIC-regulated accounts, traders should be aware of the potential for losses surpassing their account balance.

Risk Management Implications:

The availability of negative balance protection significantly impacts a trader’s risk management strategy. Clients without this protection should implement stringent risk management practices, such as setting appropriate stop-loss orders and carefully managing leverage, to mitigate the risk of substantial losses.

In summary, FP Markets offers negative balance protection to clients under CySEC regulation but does not extend this feature to those under ASIC or FSA regulation. Traders should verify their account’s regulatory status and adjust their risk management strategies accordingly.

FP Markets Deposits and Withdrawals

FP Markets offers a variety of deposit and withdrawal methods to accommodate traders’ preferences, ensuring flexibility and convenience.

Deposit Methods:

• Credit/Debit Cards: Accepts Visa and Mastercard in multiple currencies, including AUD, USD, GBP, EUR, CAD, CHF, HKD, SGD, NZD, and JPY. Deposits are processed instantly for MT4/5 accounts and within one business day for Iress accounts.
• Bank Transfers: Supports both domestic (AUD) and international bank transfers. Processing times are typically one business day from when the funds are received.
• E-Wallets: Includes options like Neteller and Skrill, with deposits processed within one business day.
• Online Banking: Offers services such as Paytrust88 for local bank transfers in MYR, IDR, THB, and VND, with a processing time of one business day.

Withdrawal Methods:

• Credit/Debit Cards: Withdrawals are processed within 2-10 business days, depending on the corresponding bank.
• Bank Transfers: Domestic bank wire withdrawals are processed within one business day once all the correct documents are received. International bank wire withdrawals follow the same timeline.
• E-Wallets: Withdrawals via Neteller and Skrill are processed within one business day.
• Online Banking: Paytrust88 withdrawals are processed within one business day.

Fees:

• Deposits: FP Markets does not charge fees for most deposit methods. However, third-party charges may apply, and it’s advisable to check with your payment provider.
• Withdrawals: While FP Markets does not charge fees for certain withdrawal methods, some, like Neteller and Skrill, may incur a 1% fee plus country-specific charges. It’s important to review the fee structure for your chosen withdrawal method.

Minimum and Maximum Transaction Amounts:

• Minimum Deposit: The minimum deposit amount is $100 AUD or equivalent for most account types.
• Maximum Deposit/Withdrawal: There are no specified maximum limits; however, large transactions may require additional verification.

FP Markets emphasizes the importance of using the same method for both deposits and withdrawals to comply with anti-money laundering regulations. This practice ensures the security and integrity of transactions.

For detailed and up-to-date information on deposit and withdrawal options, fees, and processing times, it’s recommended to consult the FP Markets official website or contact their customer support.

Support Service for Customer

FP Markets is committed to providing comprehensive customer support to assist traders at every stage of their trading journey.

Customer Support Channels:

• Live Chat: Available 24/7, the live chat feature offers immediate assistance for inquiries ranging from account setup to technical issues.
• Phone Support: Traders can reach FP Markets’ support team via phone for direct communication. The general contact number is +61 (0)2 8252 6800.
• Email Support: For detailed queries or documentation, clients can email [email protected]. The support team strives to respond promptly to all email inquiries.

Availability and Languages Supported:

FP Markets offers multilingual support to cater to its diverse global clientele. The support team is proficient in languages including English, Chinese, Indonesian, Malay, Spanish, Portuguese, French, Italian, German, Greek, Arabic, Thai, and Vietnamese.

The customer support services are available 24 hours a day, five days a week, aligning with global trading hours to ensure assistance is accessible whenever the markets are open.

Response Times:

FP Markets is recognized for its prompt customer service. Live chat and phone support typically provide immediate responses, while email inquiries are addressed within a few hours.

The broker’s dedication to efficient and effective customer support is evident in its multi-award-winning service, delivering personalized and proactive assistance to traders worldwide.

For more information or to contact FP Markets’ customer support, visit their official website.

Prohibited Countries: Where Can I Not Trade with this Broker?

FP Markets operates under strict regulatory guidelines, which necessitate restrictions on providing services to residents of certain countries. As of the latest available information, FP Markets does not accept clients from the following countries:

• United States
• Japan
• New Zealand
• Belgium
• Iraq
• Iran
• North Korea
• Syria

These restrictions are primarily due to local regulations and international sanctions that prohibit or limit financial services in these jurisdictions.

For residents of other countries, it’s advisable to consult FP Markets’ official website or contact their customer support to confirm the availability of services in your region, as regulatory conditions can change over time.

Special Offers for Customers

FP Markets provides several special offers and programs to enhance the trading experience for its clients:

1. Partnership Programs:

• Introducing Broker (IB) Program: This program allows individuals or entities to earn commissions by referring new clients to FP Markets. IBs receive competitive, volume-based rebates, making it an attractive option for those with a network of potential traders.
• CPA Affiliate Program: Affiliates can earn a flat commission fee for directing traders to FP Markets’ trading portal. This program is suitable for website owners or digital marketers aiming to monetize their traffic.

2. Special Discounts:

• Commission and Spread Discounts: FP Markets offers special discounts, such as a 40% reduction in commissions and spreads, through specific partnerships. These discounts are applied directly to trading accounts under designated Introducing Broker accounts, providing cost savings for traders.

3. Promotions:

• Welcome Bonuses: At times, FP Markets introduces welcome bonuses for new clients, such as a $30 welcome pack. These promotions are subject to terms and conditions and may vary over time.

It’s important to note that the availability of these offers can depend on the client’s country of residence and the regulatory framework governing their account. Traders are encouraged to review the specific terms and conditions associated with each offer and to consult FP Markets’ official website or customer support for the most current information.

FP Markets Review Conclusion: Reputable Broker with Easy-to-use Platform

FP Markets, established in 2005, has garnered a solid reputation in the trading community, offering a comprehensive suite of services tailored to both novice and experienced traders.

Strengths:

• Regulatory Compliance: FP Markets is regulated by multiple authorities, including the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), ensuring adherence to stringent financial standards.
• Diverse Trading Instruments: The broker provides access to over 10,000 trading instruments across various asset classes, including forex, commodities, indices, and shares, allowing for extensive portfolio diversification.
• Competitive Pricing: With tight spreads starting from 0.0 pips and low commission rates, FP Markets offers cost-effective trading solutions.
• Advanced Trading Platforms: FP Markets supports multiple platforms, including MetaTrader 4, MetaTrader 5, and cTrader, catering to different trading preferences and strategies.
• Customer Support: The broker provides 24/7 multilingual customer support, ensuring assistance is readily available when needed.

Areas for Improvement:

• Educational Resources: While FP Markets offers some educational materials, the depth and breadth could be enhanced to better support traders seeking comprehensive learning resources.
• Withdrawal Fees: Certain withdrawal methods may incur fees, which could be a consideration for traders when planning their fund management.

Usability:

The user-friendly interface of FP Markets’ platforms, combined with a straightforward account opening process, makes it accessible for traders of all experience levels. The availability of demo accounts further aids beginners in familiarizing themselves with the trading environment before committing real funds.

Conclusion:

FP Markets stands out as a reputable broker offering a robust and user-friendly trading platform. Its strong regulatory framework, diverse range of trading instruments, and competitive pricing make it a compelling choice for traders seeking reliability and efficiency. While there is room for enhancement in educational offerings and fee structures, the overall service quality positions FP Markets as a commendable option for both new and seasoned traders.

Summary and Key Takeaways

FP Markets, established in 2005, is a well-regarded broker offering a diverse range of trading instruments, including forex, commodities, indices, and shares. Regulated by authorities such as ASIC and CySEC, it ensures a secure trading environment. Overall, FP Markets offers a robust trading environment suitable for both novice and experienced traders, with a strong regulatory framework and a wide array of trading options.

FAQs

About Author

Alexandra Winters

Alexandra Winters is a highly accomplished finance specialist with a proven track record of success in the industry. Born and raised in the United States, Alexandra's passion for finance and trading led her to pursue a Bachelor's degree in Finance and Economics from the prestigious Wharton School of the University of Pennsylvania. After graduating, Alexandra launched her career as a financial analyst at J.P. Morgan in New York City, quickly establishing herself as a top performer. She then transitioned to a role as a derivatives trader at Morgan Stanley, where she specialized in trading complex financial instruments and consistently generated strong ...

Read more ...