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4.4
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75.31% of retail CFD accounts lose money

FP Markets review summary

FP Markets is an Australian CFD and forex broker founded in 2005. It is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority of St. Vincent and the Grenadines.

FP Markets is considered safe because it has a long track record and is regulated by the top-tier ASIC.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.31% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex and CFD traders familiar with the MetaTrader and IRESS trading platforms
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75.31% of retail CFD accounts lose money

You can't open an account at FP Markets if you live in United States. See the best alternative available in your country.

FP Markets pros and cons

FP Markets offers low forex fees. You can be up and running quickly as both account opening and deposits are super easy and fast. There are several excellent educational tools, such as demo accounts and e-books.

The product lineup at FP Markets is limited to forex, CFDs (equities, indices, metals) and cryptocurrencies. MetaTrader 4's web and desktop trading platforms have an outdated design. The quality of research tools is uneven, especially when it comes to fundamental data, news or charting.

Pros Cons
Low forex fees Limited product portfolio
Easy/fast account opening and funding Outdated web and desktop platform
Great education tools Imperfect research tools
FP Markets main features and highlights
🗺️ Country of regulation Australia, Cyprus, St. Vincent and the Grenadines
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $100
🕖 Time to open an account 1 day
💳 Deposit with bank card Available
👛 Depositing with electronic wallet Available
💱 Number of base currencies supported 10
🎮 Demo account provided Yes
75.31% of retail CFD accounts lose money
🛍️ Products offered Forex, CFD, Crypto, Stocks traded on the Australian Securities Exchange
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75.31% of retail CFD accounts lose money

FP Markets review
Fees

3.9
FP Markets has low forex and non-trading fees and charges no inactivity fee. On the flip side, there is a high fee for international bank withdrawals.
Pros Cons
Low trading fees High fee for international bank withdrawals
Low non-trading fees
Low forex fees
FP Markets fees snapshot
Assets Fee level Fee terms
S&P 500 CFD Low The fees are built into the spread, 0.5 points is the average spread cost during peak trading hours.
Europe 50 CFD Low The fees are built into the spread, 1.7 points is the average spread cost during peak trading hours.
EURUSD Low Raw account: $3.00 commission per lot per trade plus spread cost. 0.09 pips is the average spread cost during peak trading hours.
Inactivity fee Low No inactivity fee

How we ranked fees

We ranked FP Markets's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let's go over some lingo related to broker fees. What you need to keep an eye on are trading fees, and non-trading fees.

In the sections below, you will find the most relevant fees of FP Markets for each asset class. For example, in the case of forex and stock index trading the most important fees are spreads, commissions and financing rates.

We also compared FP Markets's fees with those of two similar brokers we selected, FXTM and Markets.com. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of FP Markets alternatives.

To have a clear overview of FP Markets, let's start with the trading fees.

FP Markets trading fees

FP Markets trading fees are generally low.

We know it's hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.

We have selected popular instruments within each asset class:

  • Stock index CFDs: SPX and EUSTX50
  • Stock CFDs: Apple and Vodafone
  • Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP

A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used was:

  • 20:1 for stock index CFDs
  • 5:1 for stock CFDs
  • 30:1 for forex

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let's see the verdict for FP Markets fees.

CFD fees

FP Markets has low stock index CFD fees, but stock CFD fees are rather average.

FP Markets CFD fees for a $2,000 long position held for one week
  FP Markets FXTM Markets.com
S&P 500 index CFD fee $0.3 $1.7 $3.5
Europe 50 index CFD fee $1.5 $1.9 $2.0
Apple CFD fee $31.8 $29.5 $11.9
Vodafone CFD fee $29.3 - $31.9

When trading S&P 500 index CFDs at FP Markets, the costs are offset by the swap points you get.

When you trade stock CFDs, FP Markets will charge a commission.

FP Markets Stock CFD fees
Market Commission per trade Minimum fee
NYSE, NASDAQ $0.02 per stock $15
London 0.10% of the trade value £10
Frankfurt 0.10% of the trade value €10
Australia 0.08% of the trade value AUD 0
Singapore 0.15% of the trade value SGD 25
Hong Kong 0.30% of the trade value HKD 100

Forex fees

FP Markets forex fees are low. Depending on the type of account you choose, commissions may vary (see available account types below). The costs for the 'ECN Raw' account include a lower spread cost and a $3 per lot per trade commission. If you choose the Standard account, you'll be charged a higher spread cost but no commission.

FP Markets forex benchmark fees of a $20,000 30:1 long position held for one week
  FP Markets FXTM Markets.com
EURUSD benchmark fee $6.5 $8.3 $11.5
GBPUSD benchmark fee $4.7 $7.0 $11.7
AUDUSD benchmark fee $5.6 $7.0 $12.1
EURCHF benchmark fee $4.0 $5.5 $16.9
EURGBP benchmark fee $7.8 $9.8 $13.9

Stock fees

FP Markets gives you access to real stocks, but only to those traded on the Australian Securities Exchange. Fees vary by account types:

FP Markets Stock fees
  Commission Minimum fee
Standard 0.11% $14.95
Non-Leverage CFD 0.08% No minimum

Non-trading fees

FP Markets has low non-trading fees.

FP Markets non-trading fees
  FP Markets FXTM Markets.com
Account fee No No No
Inactivity fee No Yes Yes
Deposit fee $0 $0 $0
Withdrawal fee $0 $3 $0

FP Markets doesn't charge an inactivity fee or account fees, except for the IRESS Trader platform. Here, a monthly fee of AUD 55 is charged, unless you generate at least AUD 200 in monthly commissions or hold a balance of AUD 50,000.

FP Markets charges no withdrawal fees if you use domestic bank transfer or credit cards, but an AUD 10 fee is levied on international withdrawals.

FP Markets review
Account opening

5.0
Opening an account at FP Markets is super quick and fully digital. The minimum deposit for forex trading is not excessive, but some account types require at least a AUD 1,000 balance.
Pros Cons
Fast High minimum balance for CFD/stock accounts
Fully digital
Low minimum deposit for forex accounts

Can you open an account?

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75.31% of retail CFD accounts lose money

FP Markets accepts customers from all over the world, although with a few notable exceptions: you can't open an account if you are from the US, Japan, New Zealand, Belgium and a handful of other countries.

What is the minimum deposit at FP Markets?

The minimum deposit depends primarily on what assets you want to trade. You can either open an account using the MetaTrader platforms for forex trading, or go for CFDs and stocks on the Australian Securities Exchange and open an account using the IRESS platform. The minimum deposit for MetaTrader standard accounts is AUD 100, while the same standard account on the IRESS platform needs to be funded with at least AUD 1,000.

Account types

FP Markets has two trading platforms, MetaTrader and IRESS, each coming with separate account types that involve different fee structures. There's also a difference between accounts based on ownership. Sounds complicated? Let's clear that up for you: for forex, we recommend MetaTrader, while for stocks and CFDs you should use IRESS.

With MetaTrader, you can have two account types:

  • Standard Account: higher spread, zero commission
  • Raw Account: lower spread, but also charges a commission

On the IRESS platform, you can choose from three account types:

  • Standard
  • Platinum
  • Premier

Going from Standard to Premier, expect higher minimum balance requirements but lower fees.

On IRESS, you can choose from three platforms:

  • IRESS Investor: a simple platform
  • IRESS Trader: an advanced platform
  • IRESS ViewPoint: an advanced platform with an enhanced design

Based on ownership, FP Markets has further options:

  • Individual: the account is owned by a single individual
  • Joint: the account is owned by two or more individuals
  • Corporate: the account is owned by a legal entity
  • Trust/SMF: the account is owned by a trustee

To have a clear picture, see the following table listing the various account types and the most important fees.

FP Markets account types
  Minimum deposit Pricing and fees Available trading platform
Forex
Raw AUD 100 Lower spreads, commission is $3 per lot per trade MT4 and MT5
Standard AUD 100 Higher spreads, but no commission MT4 and MT5
CFD
Standard AUD 1,000 Financing rate: FP Markets Base rate + 4.0%
Fee for IRESS Trader: AUD 55 per month*
ASX live data: AUD 22 per month**
IRESS Trader and IRESS Investor
Platinum $25,000 Financing rate: FP Markets Base rate + 3.5%
Fee for IRESS Trader: AUD 55 per month*
ASX live data: AUD 22 per month**
IRESS Trader and IRESS Investor
Premier $50,000 Financing rate: FP Markets Base rate + 3.0%
Fee for IRESS Trader: AUD 0
ASX live data: AUD 0
IRESS Trader and IRESS Investor
Real stock
Standard AUD 1,000 0.11% commission of the trade value and AUD 14.95 minimum fee IRESS Trader and IRESS Investor
Non-leveraged AUD 1,000 0.08% commission of the trade value and no minimum fee IRESS Trader and IRESS Investor

*Unless you generate at least AUD 150 commission per month, or maintain AUD 50,000 balance

**Unless you generate at least AUD 50 commission per month

For the purpose of this review, we used the Raw account on MetaTrader.

FP Markets review - Forex account types

If you open a forex account, you can convert it to an Islamic Account. This is a swap-free account, because instead of swaps, a so-called administration fee is charged.

Another great feature is the possibility to open sub-accounts. It means that you can assign different base currencies to each account, for instance, by opening a USD, a EUR and a GBP sub-account.

How to open your account

The account opening process is easy and fully digital. It took us roughly 10-15 minutes to complete, and our account was approved on the same day.

Let us guide you through FP Markets's four-step account opening process:

  1. Enter your name, email address and country of residence
  2. Provide further information about yourself, such as your date of birth, address and occupation
  3. Select the account type, trading platform and base currency
  4. Fill out a brief questionnaire to demonstrate your understanding of various financial products

FP Markets review - Account opening

Our best alternatives to FP Markets are:

The highest ranking competitors are:

  1. FXTM full review
  2. Markets.com full review
  3. XTB full review
  4. AvaTrade full review

FP Markets review
Deposit and withdrawal

4.7
FP Markets offers a wide range of deposit and withdrawal options, but some withdrawal methods come with a fee.
Pros Cons
Credit/Debit card available Some withdrawal options are not free
No deposit fee
Several account base currencies

Account base currencies

Compared with other brokers we tested, FP Markets has a wide selection of base currencies. You can choose from the following account currencies:

FP Markets available base currencies
EUR GBP USD AUD
CAD SGD HKD JPY
NZD CHF

This account currency selection is fairly competitive when measured against similar brokers.

Base currencies at FP Markets vs similar brokers
  FP Markets FXTM Markets.com
Number of base currencies 10 4 11

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don't have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Compare digital banks

Deposit fees and options

During our review, we found that FP Markets doesn't charge deposit fees in most cases. You can choose from many options when it comes to funding your account. FP Markets keeps up with its competitors in this field.

FP Markets deposit options
  FP Markets FXTM Markets.com
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets Yes Yes Yes

The list of electronic wallet options is quite impressive:

Electronic wallets accepted at FP Markets
Neteller Skrill China Union Pay
BPay PoliPay Fasapay
Ngang Luong PayTrust PayPal

A bank transfer can take several business days, while payment with a credit/debit card is instant.

You can only deposit money from accounts that are in your name.

FP Markets review - Deposit and withdrawal - Deposit

In a slight annoyance, FP Markets's client portal logged us out several times when we were trying to make a deposit.

FP Markets's deposit fees may vary based on the trading platform and the way you want to fund your account.

FP Markets deposit fees
Deposit method MetaTrader platforms IRESS platforms
Domestic bank transfer
Bank of China Online Pay
BPay
PoliPay
PayTrust88
Fasapay
Ngang Luong
Interac
Dragonpay
Free Free
International bank transfer AUD 12.5 AUD 12.5
Credit Card Free 1.6% for deposits in AUD
3.18% for any other currency
Neteller Free 4.0%
Skrill Free 4.0%
PayPal Free 2.0%
Broker to broker* Domestic: free
International: AUD 25
Domestic: free
International: AUD 25

*This means you can deposit your funds from another broker to FP Markets.

FP Markets withdrawal fees and options

FP Markets charges a withdrawal fee, except for domestic bank transfers and withdrawals to credit cards.

You can use bank transfer, credit cards, and electronic wallets for withdrawal. The same electronic wallets are accepted for withdrawals as for deposits, except PoliPay, PaySec, and BPay.

FP Markets withdrawal fees and options
  FP Markets FXTM Markets.com
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets Yes Yes Yes
Withdrawal fee $0 $3 $0

Withdrawal fees also vary based on the method you want to use. 

FP Markets withdrawal fees
Withdrawal method Withdrawal fee
Credit/debit card (MT4/MT5/IRESS) Free
International bank transfer AUD 10
Domestic bank transfer Free
Neteller 2%, maximum $30 per $45,000 transaction
Skrill 1% + country fees (if applicable)
Fasapay 0.5%
PayTrust88 1.5%
Ngan Luong 1,000 VND +1%
PayPal MT4/MT5: free
IRESS: 2%
Bank of China Online Pay $18
Broker to broker* Domestic: free
International: AUD 25

*This means you can withdraw your funds from FP Markets and transfer it to another broker.

How long does it take to withdraw money from FP Markets? We tested withdrawal by credit card and it took 1 day.

You can only withdraw money to accounts that are in your name.

How do you withdraw money from FP Markets?

  • Log in to the 'Client Area'
  • Go to 'Funding' and then 'Withdrawal'
  • Select the method and amount of withdrawal
  • Initiate the transaction

FP Markets review
Web trading platform

2.8
FP Markets's web trading platform is provided by MetaTrader. It's multilingual and highly customizable, but it lacks a two-step login and price alerts, and the design is outdated.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation Outdated design
FP Markets platforms to choose from
Trading platform Score Available
Web 2.8 stars Yes
Mobile 3.8 stars Yes
Desktop 3.4 stars Yes

FP Markets doesn't have an in-house developed trading platform. It uses third-party trading platforms, which differ in the range of tradable products, platform fees and minimum deposits.

FP Markets trading platforms
  MT4 / MT5 IRESS Viewpoint / Trader / Investor
Recommended for Forex traders looking for more sophisticated research tools Stock traders seeking more sophisticated research tools
Tradable products Forex, commodity CFD, stock index CFD Stock CFD, real stock, forex, commodity CFD, stock index CFD
Monthly platform fee Free IRESS Investor is free;
AUD 55 for IRESS Viewpoint and Trader*
Minimum deposit AUD 100 AUD 1,000
Web trading platform offered Yes Yes
Mobile trading platform offered Yes Yes (IRESS Mobile)
Desktop trading platform offered Yes No

*Unless you generate AUD 200 in commissions per month or maintain a AUD 50,000 balance

In this review, we tested the MetaTrader 4 trading platform because this is what most clients would use and also because it's free of charge. However, MetaTrader 5 is available as well.

MetaTrader 4 is available in an exceptionally large number of languages.

FP Markets web trading platform languages
Arabic Bulgarian Chinese Croatian Czech Danish
Dutch English Estonian Finnish French German
Greek Hebrew Hindi Hungarian Indonesian Italian
Japanese Korean Latvian Lithuanian Malay Mongolian
Persian Polish Portuguese Romanian Russian Serbian
Slovak Slovenian Spanish Swedish Tajik Thai
Traditional Chinese Turkish Ukrainian Uzbek Vietnamese  

Look and feel

FP Markets's web trading platform offers great customizability. You can easily change the size and the position of the tabs.

On the other hand, the platform feels outdated, and some features are hard to find. For example, it took us a while to figure out how to add an asset to the watchlist.

FP Markets review - Web trading platform

Login and security

FP Markets provides only one-step login on the MT4 web platform. Two-step authentication would be more secure.

Search functions

The platform's search functions are average. Assets are grouped into categories that you can browse, but we missed the usual search function where you can simply type in the asset's name.

FP Markets review - Web trading platform - Search

Placing orders

Only the basic order types are available. You won't find sophisticated order types like 'One cancels the other'.

  • Market
  • Limit
  • Stop
  • Trailing stop

Trailing stop orders are available only on the MT4 desktop platform.

If you are not familiar with order types, read this overview.

There are also order time limits you can use:

  • Good 'til canceled (GTC)
  • Good 'til time (GTT)

FP Markets review - Web trading platform - Order panel

Alerts and notifications

You can't set alerts and notifications on the FP Markets web trading platform. This feature is available only on the desktop trading platform.

Portfolio and fee reports

FP Markets has clear portfolio and fee reports. You can easily see your profit-loss balance and the commissions you paid. These reports can be found under the 'History' tab, although we didn't find a way to download them.

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FP Markets review
Mobile trading platform

3.8
FP Markets has a great mobile trading platform, offered by MetaTrader. It is well designed and user-friendly. On the flip side, it lacks a two-step login.
Pros Cons
User-friendly No two-step (safer) login
Good search function No Touch/Face ID login
Price alerts No order confirmation

In January 2021, FP Markets announced a new mobile app, available for both iOS and Android. It is a well-designed, easy-to use application available to anyone with MetaTrader login credentials. In this review, however, we cover MetaTrader 4, as we feel it is more popular among clients at the moment.

Similarly to the web trading platform, FP Markets offers MetaTrader 4, MetaTrader 5 and IRESS Mobile as mobile trading platforms, for both iOS and Android. In this review, we tested the MetaTrader 4 mobile trading platform for Android.

After you download the MT4 mobile trading platform, you have to access the FP Markets-Live server.

Just like on the web trading platform, you can choose from many languages on the mobile platform. Changing the language is a bit tricky on Android devices, though, as you can do it only if you change the default language of your mobile.

FP Markets mobile trading platform languages
Arabic Chinese (Simplified) Chinese(Traditional) Czech English
French German Greek Hindi Indonesian
Italian Japanese Korean Malay Polish
Portuguese Portuguese (Brazil) Russian Spanish Thai
Turkish Ukrainian Vietnamese    

Look and feel

FP Markets has a great mobile trading platform, we really liked its design and user-friendliness. You will easily find all the features.

FP Markets review - Mobile trading platform

Login and security

Similarly to the web trading platform, FP Markets provides only one-step login for its mobile app. Two-step login would provide an added layer of security.

There is also no fingerprint or Face ID authentication. Adding this feature would make the login process more convenient.

Search functions

The mobile app's search functions are good. You can search by typing the name of the product or by navigating the category folders.

FP Markets review - Mobile trading platform - Search

Placing orders

You can use the same order types and order time limits as on the web trading platform.

FP Markets review - Mobile trading platform - Order panel

Alerts and notifications

You can't set alerts and notifications directly, although you can set up mobile push notifications on the desktop trading platform. It would be much easier if you could set these notifications on the mobile app itself.

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FP Markets review
Desktop trading platform

3.4
In design and functions, FP Markets's MetaTrader 4 desktop trading platform is almost the same as the web platform. One big difference is that you can set price alerts here.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) Poor design
Price alerts Search function could be improved

FP Markets offers MetaTrader 4 as a desktop trading platform.

It has the same design, is available in the same languages, offers the same order types (plus Trailing Stop), has the same search functions, and offers the same portfolio and fee reports as the web trading platform.

The major difference is that you can set alerts and notifications on the desktop trading platform, in the form of mobile push and email notifications. To set email or mobile notifications, you have to add your email address and mobile MetaQuotes ID (you can find it in the MT4 app's settings). You can do this by going to 'Tools' then 'Options.'

FP Markets review - Desktop trading platform

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75.31% of retail CFD accounts lose money

FP Markets review
Markets and products

2.4
FP Markets offers a great portfolio of CFDs, forex and cryptos. You can trade Australian real stocks, too. Other stocks, ETFs, mutual funds, bonds, options or futures are missing, though.

FP Markets has a great product portfolio in three asset classes:

  • Forex instruments
  • CFDs (especially on stocks)
  • Stocks traded only on the Australian Securities Exchange

FP Markets employs a mix of order routing practices. While forex products are traded via ECN (Electronic Communication Network), CFD products use different channels in the form of DMA (Direct Market Access). The advantages of DMA CFDs are lower spreads and faster execution, because orders are passed directly to the underlying market without any intermediate participant, such as a dealer or a market maker.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FP Markets beats its immediate competitors with its strong stock CFD offering. Its forex pairs selection is also fairly competitive, but its selection of stock index CFDs, commodity CFDs and cryptocurrency CFDs is much less impressive. Unfortunately, ETF CFDs and bond CFDs are not available.

You can also trade futures CFDs for global stock indices.

FP Markets product selection
  FP Markets FXTM Markets.com
Currency pairs (#) 63 62 67
Stock index CFDs (#) 14 11 40
Stock CFDs (#) 9,000 172 2,027
ETF CFDs (#) - - 66
Commodity CFDs (#) 8 3 28
Bond CFDs (#) - - 4
Cryptos (#) 4 4 25

The UK's Financial Conduct Authority (FCA) banned the sale of crypto-derivatives to UK retail consumers starting January 2021.

The default leverage level of products can be changed on the MetaTrader platforms, which is great if you want to lower the risk of your trade. Unfortunately, you can't change the default leverage on the IRESS platforms.

Always be careful with forex and CFD trading, as preset leverage levels may be too high.

Stocks

FP Markets offers real stocks, but only those listed on the Australian Securities Exchange.

FP Markets stock and ETF selection
  FP Markets FXTM Markets.com
Stock markets (#) 1 3 18

Social Trading

FP Markets introduced its social trading service in 2021. It is a copy trading feature: you can either be a Copier or a Provider. As a Copier, you can choose among traders to follow based on their ratings. As a Provider, you can make yourself available for other traders to follow. Read more about the service here on FP Markets's website.

FP Markets review
Research

3.3
There are several research tools at FP Markets, most of which are great. Still, the design and usability of charts could be be better, and we also missed data and news on fundamentals.
Pros Cons
Trading ideas No fundamental data available
User-friendly No/poor quality news flow
Mediocre charting tool

Basic FP Markets research tools can be found on the trading platforms, while some other useful tools are available in a package called Trader Toolbox. In this review, we tested the research tools available on MetaTrader 4.

The FP Markets website provides research tools in Arabic, Chinese, English, French, German, Indonesian, Malaysian, Portuguese, Spanish and Vietnamese. Meanwhile, research functions on MT4 are available in the same languages as the trading platform itself.

Trading ideas

FP Markets provides trading ideas through a blog page called Traders Hub. These trading ideas are grouped into technical and fundamental analysis. We liked the quality of the trading ideas; the analyses are up to date and a new piece is published almost every day.

Autochartist is another tool that can be used via the MetaTrader platforms. Autochartist recognizes charting patterns and it gives an idea about the trading direction based on these patterns. To download this tool, you have to log in to the client area and then click 'Trading Tools'.

FP Markets review - Research - Recommendations

Fundamental data

In the Trader Toolbox, you can view historical data for basic assets; some limited historical macroeconomic data are also available ein the Economic Calendar (see below). Besides this, we did not find any other kind of fundamental data.

Charting

FP Markets has average charting tools. You can use 31 technical indicators along with other editor tools, like trendlines or Fibonacci retracement.

On the negative side, the design is outdated and some features are hard to use. For example, it wasn't easy to figure out how to remove an indicator from the chart.

FP Markets review - Research - Charting

News feed

FP Markets has discontinued its previous news feed. It now only offers a blog page (Traders Hub) that includes daily market wraps, in addition to regular technical and fundamental analysis. You can still stay on top by reading these high-quality daily reports; some also include a table showing basic information such as opening/closing prices, price changes, etc.

There is an Economic Calendar under the 'Resources' menu. Events are neatly displayed in chronological order; if you click on an entry, you can read a short explanation of the indicator and view some historical data (if applicable). However, you cannot filter or sort entries according to country or indicator.

FP Markets review - Research - Economic calendar

Other research tools you may find useful

There is a suite of analytical tools offered in the Trader Toolbox. For accessing the Toolbox, you need to deposit at least AUD 1,000 or equivalent in another currency. As soon as you have qualified for the tools, you will receive an email with a link, where you can download and run the Toolbox.

Just to mention a few tools in the Trader Toolbox:

  • Alarm Manager: allows you to set up more sophisticated alerts, like a news alert.
  • Correlation Matrix: shows the correlation between chosen assets.
  • Sentiment Trader: shows the distribution of buyers and sellers.

FP Markets review - Research - Trader Toolbox

More research info
75.31% of retail CFD accounts lose money

FP Markets review
Customer service

5.0
You can contact FP markets via live chat, phone and email in several languages. Response times are fast, and we received helpful replies on all but a few occasions.
Pros Cons
Live chat None
Fast response time
Great email support

You can contact FP Markets via:

  • live chat
  • phone
  • email

One of the greatest features of customer support at FP Markets is the impressive number of languages you can choose from: Arabic, Chinese, English, French, German, Greek, Indonesian, Italian, Malaysian, Portuguese, Russian, Spanish, Thai and Vietnamese.

FP Markets's phone support is fast. We called them twice, and each time it took about half a minute to connect. We had mixed experience regarding the helpfulness of phone support, though. During our second call, the agent pointed us to the webpage instead of answering our questions directly.

FP Markets offers great email support, providing quick and relevant answers. We contacted them several times and got answers to all our emails within a few hours.

Live chat was fast and we got relevant answers.

Customer support is now available 24/7 at FP Markets.

FP Markets review - Customer Service

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75.31% of retail CFD accounts lose money

FP Markets review
Education

5.0
FP Markets does a great job in education. From demo accounts to podcasts and ebooks, you will find several ways to learn. Webinars are now also available.
Pros Cons
Demo account None
Trading platform tutorial
Educational videos

At FP Markets, you can learn in the following ways:

  • Demo account
  • Platform tutorial videos
  • Trading glossary
  • High quality e-books
  • Webinars

Educational tools are well organized under the 'Resources' toolbar's 'Education' menu. Webinars are the latest addition to FP Markets's education arsenal, covering various topics such as technical and fundamental analysis as well as MT4/MT5 trading tutorials.

FP Markets review - Education

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75.31% of retail CFD accounts lose money

FP Markets review
Safety

FP Markets is regulated by the top-tier Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).
Pros Cons
Negative balance protection under CySEC Does not hold a banking license
€20,000 investor protection under CySEC No negative balance protection under ASIC
No investor protection under ASIC

Is FP Markets regulated? Yes, it is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority of St. Vincent and the Grenadines.

FP Markets is based in Australia and was founded in 2005.

Is FP Markets safe?

To be certain if a brokerage is safe, you should check

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

FP Markets operates several subsidiaries. This matters because the amount of investor protection you're eligible for differs from entity to entity.

FP Markets investor protection
Country of clients Protection amount Regulator Legal entity
Australia No protection Australian Securities and Investments Commission (ASIC) First Prudential Markets Pty Ltd
EU €20,000 Cyprus Securities and Exchange Commission (CySEC) First Prudential Markets Ltd
Rest of the world No protection Financial Services Authority (St. Vincent and the Grenadines) First Prudential Markets LLC

FP Markets does not provide negative balance protection for clients under ASIC and the Financial Services Authority of St Vincent and the Grenadines, though it does so under CySEC.

Background

FP Markets was established in 2005. The longer the track record of a broker, the more proof we have that it has successfully survived previous financial crises. We consider 16 years of operation a solid track record.

FP Markets has no banking background and is not listed on any stock exchange; both would provide an added layer of security and transparency.

Find your safe broker

FP Markets review
Bottom line

FP Markets is a great CFD and forex broker regulated by the top-tier Australian Securities and Investments Commission (ASIC). It offers low forex fees and does not charge an inactivity fee. Both account opening and depositing are fast, and you'll find high-quality educational tools.

On the downside, the product portfolio is limited, as it covers only CFDs (equities, indices, metals) and forex instruments. The MT4 web and desktop trading platforms have outdated designs. Research tools at FP Markets, while impressive in some respects, could still use some additional features.

Feel free to try FP Markets as the account opening is easy and there are no inactivity fees.

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75.31% of retail CFD accounts lose money

FP Markets review
FAQ

We recommend FP Markets for forex and CFD traders familiar with the MetaTrader and IRESS trading platforms.

Below you can find links to all aspects of FP Markets in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our FP Markets fees article.

What about the minimum deposit?

Our ultimate guide to the FP Markets minimum deposit is updated regularly.

How to start your FP Markets account?

Look no further than our evaluation of the FP Markets account opening.

How's their trading app?

Here's our expert view after checking the FP Markets trading app.

Is the quality of customer service satisfactory?

All you need to know about FP Markets customer service.

Legit or scam?

Is FP Markets legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether FP Markets is really free.

Is this broker good for beginners?

We checked it in Is FP Markets good for beginners.

Should you buy your silver bullets on FP Markets?

Research for silver bugs in the Silver buy on FP Markets guide

I want to trade options, are they available at FP Markets?

We explored the topic in Can you trade options on FP Markets?

What is the minimum account balance at FP Markets?

Check out the current account balance requirements at FP Markets in our What is the minimum account balance at FP Markets article.

Looking for commission and fees data for FP Markets?

We collected them in FP Markets commission and fees.

How do you withdraw money from FP Markets?

We tested it and collected the options and costs in How to withdraw money on FP Markets.

Author of this review

Ádám Nasli

Author of this review

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading.

Ádám Nasli

Analyst head

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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75.31% of retail CFD accounts lose money

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