FP Markets Review

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Company Information   FP Markets is one of the earlier online forex brokers. The business is founded back in 2005 and is based in Australia. FP Markets has earned a… more

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BrokerFP Markets
Website URLhttp://www.fpmarkets.com.au/
HeadquartersSydney, Australia
Support Number1300 376 233 (AU); +61 (0)2 8252 6800 (International)
Support Emailclientservices@fpmarkets.com.au
Support TypesPhone, Live Chat, E-mail
LanguagesEnglish, Chinese
Minimum 1st Deposit$1,000
Minimum Trade Amount0.01 lots
PayoutUp to 500:1
Free Demo AccountYes
Regulated Yes
RegulationAustralian Securities and Investments Commission (ASIC)
Account TypesStandard, Raw
Deposit MethodsVisa, MasterCard, Swift, Bpay, Neteller, Skrill, China Union Pay, Transfers from other brokers
Withdrawal MethodsVisa, MasterCard, Swift, Bpay, Neteller, Skrill, China Union Pay, Transfers from other brokers
Types of AssetsForex, CFDs, Shares, Indices, Commodities
Account CurrencyAUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information


FP Markets is one of the earlier online forex brokers. The business is founded back in 2005 and is based in Australia. FP Markets has earned a name as one of the leading CFD trading providers. The broker offers quite a bit of financial instruments, made freely available to all clients through direct market access. The company was formed by a group of very experienced forex trading professionals, so they have a good look at what the customers want. Another good thing of FP Markets is that the company aims to serve both new individual traders and professional institutional ones. If forex is your passion, FP Markets is a good place to start out. Since the company has been operating for eleven years now and uses a Direct Market Access model, it has become one of the most trusted forex brokers in Australia and even in other parts of the world. Both the trading platforms and the customer service are magnificent. Also, FP Markets takes some precautionary security measures with clients’ money.


The website design of FP Markets is a bit darker than most other forex brokers but looks fresh and welcoming. There is an excellent menu with black, white and teal. You can get various information about CFDS, forex, futures, shares and educational and research opportunities. The two biggest focuses on the main page are the live account button and the contact form for opening a demo account. Aside from this, you can find the latest expert market insights and news. There is also a handy list of upcoming events you can participate in, including various webinars and tutorials for new traders. The pros of having an account with FP Markets are clearly displayed, so you can make an informed decision before committing your money to the broker.


Trading Information


By having an FP Markets account, you can trade with virtually any instrument you want to. For example, a large number of forex brokers only offer finances and metals/oil. With the Aussie broker, you can earn money off CFDs, metals, oil, stocks, futures, indices and EFTs. FP Markets has every base covered. The maximum leverage you can get is 500:1, which is an impeccable ratio. As you know, higher leverage means more risk, so going over this number is advisable only for the most experienced traders. The minimum contract size lot is 0.01, which is not as good as four decimals, but still falls into the top lists. FP Markets offers market execution, hedging and scalping. There are no scalping restrictions, something you don’t often see with the good forex brokers. FP Markets also boasts more than 20 liquidity providers. And the best feature is the lack of a dealing desk.


Trading Platforms


As you probably already know, MetaTrader 4 is one of the most used, longest-standing trading platforms out there. FP Markets makes no exception from the brokers who support the platform. MT4 offers a vast amount of features and is highly customizable. An adamant part of MetaTrader 4 is the availability for virtually any kind of desktop and mobile platform. However, FP Markets also offers the IRESS Suite. IRESS offers two levels of software. The first is IRESSTrader – a browser-based, fully dynamic platform with access to a wide range of markets. The program offers lots of features, including alerts, charts, portfolio managements, live streaming news and others. The other variation is called IRESS Investor. This web-based solution provides organizational tools for all kinds of trades. You can access futures, forex and other equities to make use of diversification and hedging. Overall both platforms are great and are available as a mobile app.


Security and Customer Service


The good thing about FP Markets is that it’s regulated by the Australian Securities and Investment Commission – ASIC. The commission licenses companies only if they meet certain requirements. One of those requirements is that the broker has to keep clients’ money in segregated trust accounts to avoid failure. The other one is the minimum capital. The company has to hold at least $1000000 to prove its sound financial standing. The website also utilizes advanced virtual security, making your data and transactions as safe as possible.


The customer service department works very quickly and efficiently. You can contact them by telephone, e-mail, live chat, or just use the contact form on the FP Markets website. There are several e-mails for various inquiries like sales, services, accounts and others.


Deposits and Withdraws


FP Markets accepts some account currencies like USD, EUR, GBP and AUD. The minimum deposit you should make is $100. As for depositing funds into your account, you can use the major credit/debit cards, wire transfers, BPAY and the e-wallet services like Neteller and Skrill. Withdrawing is a bit harder since you can only use the credit cards, BPAY and the wire transfer. Wire transfers are very safe but take longer to complete.


Deposit Bonus and Loyalty Programs


FP Markets currently does not offer any bonus or loyalty programs. This, however, might change in the future. On the other hand, you can choose between two account types. The standard account offers a bit higher spreads, takes no commission per lot, and the minimum deposit is $200 to get started. The other account type is called Raw. It offers smaller spreads, but there is a commission of $3.50 per lot. The minimum deposit is $1000. With Raw, you can take advantage of a variety of FPM discounts. Check them out!

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