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Written by: Ádám N. Updated: Dec 2022
Expert verified
Recommended for
  • forex trading
Trusted broker
Regulated by top-tier financial authorities
Popularity
415 people chose this broker in the last 6 months
BrokerChooser Score
4.2/5

FP Markets review summary

FP Markets is an Australian CFD and forex broker regulated by the top-tier ASIC. 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 MetaTrader 4's web and desktop trading platforms have an outdated design.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. BrokerChooser gave FP Markets a 4.2/5 rating based on analyzing 500+ criteria and testing via opening a live account.

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

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Easy/fast account opening and funding Outdated web and desktop platform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 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
To read much more details about the broker's services and features, expand on the sections below.

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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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).
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FP Markets review
Bottom line

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FP Markets review
FAQ

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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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