FP Markets Information
FP Markets is an Australian-based online brokerage firm that offers various trading instruments including 70+ forex currency pairs, 10,000+ stocks, 19 indices, commodities, bonds, metals, and digital currencies. The company was founded in 2005 and is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).
FP Markets provides clients with access to multiple trading platforms including MT4/5, TradingView, cTrader, and FP Markets Trading App. The broker also offers two live account types, Standard and Raw, with the minimum deposit of $100 AUD or equivalent amount. In addition, the company offers free demo accounts for traders to test their strategies in a risk-free environment.
When it comes to trading conditions, FP Markets is known for its competitive spreads and low commissions. The broker also offers high leverage options of up to 500:1 for forex trading. Additionally, the broker offers 24/7 customer support and rich educational resources such as webinars, trading guides, and video tutorials, which can help both novice and experienced traders to improve their trading skills.
Pros & Cons
FP Markets has several pros, including its strong regulatory framework, low trading fees, diverse range of financial instruments, and robust trading platforms.
| Pros | Cons |
| Regulated by reputable authorities (ASIC, CySEC) | Regional restrictions |
| Various tradable instruments supported | Limited live account types |
| Website easy to navigate | Minimum deposit not the friendiest compared to other brokers |
| Low spreads and competitive pricing | Withdrawal fee charged for some methods |
| Generous leverage up to 1:500 | |
| Rich educational resources available | |
| Negative balance protection |
Account Types
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. The MT4 and MT5 platforms offer Standard and Raw account types.
Let’s take a closer look at each account type. The Standard account offers commission-free trading with spreads starting from 1.0 pips, while the Raw account offers commission-based trading with spreads starting from 0.0 pips. The Raw account is designed for traders who require lower spreads and are willing to pay a commission for the privilege.
Demo Accounts
FP Markets offers free demo accounts for both the MT4 and MT5 platforms, allowing traders to practice their strategies and familiarize themselves with the platforms before opening a live trading account. The demo accounts provide access to real-time market data, competitive spreads, and a range of trading tools, making it an ideal option for traders of all levels to test their trading skills without risking their capital.
One of the key advantages of FP Markets’ demo accounts is that they allow traders to experience the same trading conditions as their live accounts, giving them a realistic view of the market environment. In addition, the demo accounts are unlimited, meaning that traders can practice for as long as they want without any time restrictions.
Trading Platforms
FP Markets offers its clients a variety of trading platforms to choose from, including MT4/5, TradingView, cTrader, and FP Markets Trading App.
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.
Copy/Social Trading
FP Markets presents robust copy trading services.The options include an embedded MT4 service from a leading algorithmic broker, an embedded MT5 service ideal for equity CFD copy trading, and an embedded cTrader service as a reasonable MT4 alternative.
Additionally, traders can leverage the well-trusted third-party service Myfxbook AutoTrade or explore the fee-based emerging alternative Signal Start.
Furthermore, FP Markets provides an in-house maintained copy trading service, FP Markets Social Trading, catering to traders seeking a proprietary solution.
Deposit & Withdrawal
FP Markets requires a minimum deposit of $100 AUD or equivalent. This means that you can not open an account with FP Markets unless you deposit at least $100. However, it is important to note that some payment methods may require a higher minimum deposit. For example, if you are using a bank wire transfer, the minimum deposit may be higher than $100 due to processing fees.
The following is a table showing the comparison of the minimum deosit required by FP Markets and other brokers, Pepperstone, XM, and IC Markets Global:
Educational Resources
FP Markets offers some educational resources to help traders improve their knowledge and skills in trading. These resources include video tutorials, webinars, podcasts, trading guides, ebooks, glossary, etc. The broker also provides a demo account for traders to practice their trading strategies without risking real money.
