Summary

Recommended for forex and CFD traders familiar with MetaTrader and IRESS trading platforms

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67.02% of retail CFD accounts lose money

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 it 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. 67.02% 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.

Overall Rating
4.5
Fees
4.1
Account opening
5.0
Deposit and withdrawal
4.7
Trading platform
3.5
Markets and products
2.3
Research
3.3
Customer service
4.0
Education
5.0

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 stock CFD fees are quite high and the product lineup is limited to forex, CFDs (equities, indices, metals) and cryptocurrencies. MetaTrader 4's web and desktop trading platforms have an outdated design.

Pros Cons
Low forex fees High stock CFD fees
Easy and fast account opening Limited product portfolio
Quick deposits and withdrawals Outdated web and desktop platform
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
🛍️ Products offered Forex, CFD, Crypto, Stocks traded on the Australian Securities Exchange
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67.02% of retail CFD accounts lose money

Author of this review

Ádám Nasli

Author of this review

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Ádám Nasli

Broker Expert

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

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

FP Markets review
Fees

4.1
To find out more about its trading and non-trading fees, visit FP Markets
Visit broker 67.02% of retail CFD accounts lose money

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Compare to its best reviewed alternative: FXTM
FP Markets has low forex and non-trading fees and charges no inactivity fee. On the flip side, stock CFD fees are high.
Pros Cons
Low trading fees High stock CFD fees
Low non-trading fees High fee for international bank withdrawal
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 ECN account pricing: $3 per lot per trade plus spread cost. 0.2 pips is the average spread cost during peak trading hours.
Inactivity fee Low No inactivity fee

FP Markets trading fees

FP Markets trading fees are 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 the stock CFD fees are high.

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 $0.1 $2.2 $3.3
Europe 50 index CFD fee $1.7 $2.4 $1.9
Apple CFD fee $32.9 $36.5 $12.6
Vodafone CFD fee $27.6 - $34.2

At S&P 500 index CFD, 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, the commission 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 $5.6 $8.2 $10.4
GBPUSD benchmark fee $4.9 $7.4 $11.4
AUDUSD benchmark fee $4.4 $7.0 $12.7
EURCHF benchmark fee $1.9 $5.5 $15.8
EURGBP benchmark fee $6.5 $9.7 $13.0

Stock fees

FP Markets gives you access to real stocks, but only to those on the Australian Securities Exchange. The fees are different for the two 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 does not charge an inactivity fee or account fees, except for IRESS Trader. Here a $55 monthly commission is charged, unless you generate at least AUD 200 monthly commission or hold an AUD 50,000 balance.

FP Markets charges no withdrawal fees, if you use domestic bank transfer or credit cards.

FP Markets review
Account opening

5.0
To experience the account opening process, visit FP Markets
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Opening an account at FP Markets is super quick and fully digital. While the minimum deposit is not high for forex, some account types require at least $1,000 balance.
Pros Cons
Fast High minimum account balance for CFD and stock account types
Fully digital
No minimum deposit for forex accounts

Can you open an account?

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67.02% of retail CFD accounts lose money

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

What is the minimum deposit at FP Markets?

The minimum deposit depends on two major factors. Based on the assets you want to trade, you can either open an account using 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 $100, while the same standard account on the IRESS platform needs to be funded with at least $1,000

Account types

FP Markets has two trading platforms, MetaTrader and IRESS and each has separate account types. There's also a difference between accounts based on ownership. Bit complicated, right? Let's bring some clarity here: for forex, we recommend MetaTrader, for stocks and CFDs use IRESS.

With MetaTrader you can have two account types:

  • Standard Account: higher spread, zero commission
  • Raw Account: lower spread and commission

On the IRESS platform you have three options:

  • Standard
  • Platinum
  • Premier

Going from Standard to Premier, expect higher minimum balance and 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 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 give you a clear picture, we created the following table with the various account types and the most important fees.

FP Markets account types
  Minimum deposit Pricing and fees Available trading platform
Forex
Raw  $100 Lower spreads, commission is $3 per lot per trade MT4 and MT5
Standard $100 Higher spreads, but no commission MT4 and MT5
CFD
Professional $1,000

Financing rate: FP Markets Base rate + 4.0% 

Fee for IRESS Trader: $55 per month*

ASX live data: $22 per month**

IRESS Trader and IRESS Investor
Platinum $25,000

Financing rate: FP Markets Base rate + 3.5% 

Fee for IRESS Trader: $55 per month*

ASX live data: $22 per month**

IRESS Trader and IRESS Investor
Premier $50,000

Financing rate: FP Markets Base rate + 3.0% 

Fee for IRESS Trader: $0

ASX live data: $0

IRESS Trader and IRESS Investor
Real stock
Standard $1,000 0.11% commission of the trade value and $14.95 minimum fee IRESS Trader and IRESS Investor
Non-leveraged $1,000 0.08% commission of the trade value and no minimum fee IRESS Trader and IRESS Investor

*Unless you generate at least AUD 200 commission per month, or maintain AUD 50,000 balance

**Unless you generate at least $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 availability of opening sub-accounts. IIt means that you can have different base currencies for one account, for instance, a USD, an EUR and a GBP subaccount.

How to open your account

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

We guide you through FP Markets' four-step account opening process:

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

FP Markets review - Account opening

FP Markets review
Deposit and withdrawal

4.7
To find out more about the deposit and withdrawal process, visit FP Markets
Visit broker 67.02% of retail CFD accounts lose money

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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 of charge
No deposit fee
Several account base currencies

Account base currencies

Compared to 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 great compared to competing brokers. Both FXTM and Markets.com offer fewer base currencies.

Base currencies at FP Markets vs similar brokers
  FP Markets FXTM Markets.com
Number of base currencies 10 4 9

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.

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Deposit fees and options

During the 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 impressive: 

Electronic wallets 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, which are in your name.

FP Markets review - Deposit and withdrawal - Deposit

FP Markets' client portal logged us off multiple times, when we were trying to make a deposit. This was really annoying.

FP Markets' 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

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 a different broker to FP Markets.

FP Markets withdrawal fees and options

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

You can use bank transfer, credit cards, and electronic wallets for withdrawal. The same electronic wallets are available 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 0.50%
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 in your name.

How do you withdraw money from FP Markets? 

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

Compare to other brokers

FP Markets review
Web trading platform

2.8
To try the web trading platform yourself, visit FP Markets
Visit broker 67.02% of retail CFD accounts lose money

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FP Markets' web trading platform is provided by MetaTrader. It is highly customizable, available in a lot of languages, and has a clear fee report. On the other hand, 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 tradable products, platform fees, and the minimum deposit.

FP Markets trading platforms
  MT4 / MT5 IRESS Viewpoint / Trader / Investor
Recommended for Forex traders looking for more sophisticated research tools Stock traders preferring 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

$55 for IRESS Viewpoint and Trader*

Minimum deposit $100 $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 commission per month or maintain a AUD 50,000 balance

In this review, we tested the MetaTrader 4 trading platform because most clients would go with this and it is free of charge.

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' web trading platform has 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. It took us some time to find how to add an asset to the watchlist.

FP Markets review - Web trading platform

Login and security

FP Markets provides only a one-step login. A two-step authentication would be more secure.

You can't use a biometric login that would be more convenient.

Search functions

The search functions are average. The assets are grouped into categories. 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 will not find sophisticated orders, like the 'one cancels the other' order. 

  • Market
  • Limit
  • Stop
  • Trailing Stop

Trailing Stop is available only in 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. We didn't find a way to download them.

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67.02% of retail CFD accounts lose money

FP Markets review
Mobile trading platform

3.8
To try the mobile trading platform yourself, visit FP Markets
Visit broker 67.02% of retail CFD accounts lose money

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Compare to its best reviewed alternative: FXTM
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, Fusion 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 a lot of languages on the mobile platform Changing the language is a bit tricky on Android devices. 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 a one-step login. A two-step login would be safer.

There is no fingerprint or Face ID authentication. Providing this feature would be more convenient.

Search functions

The search functions are good. You can search by typing the name of the product or by navigating in the folders.

FP Markets review - Mobile trading platform - Search

Placing orders

You can use the same order types and order time limits that are available on the web trading platform.

FP Markets review - Mobile trading platform - Order panel

Alerts and notifications

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

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67.02% of retail CFD accounts lose money

FP Markets review
Desktop trading platform

3.4
To try the desktop trading platform yourself, visit FP Markets
Visit broker 67.02% of retail CFD accounts lose money

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In design and functionalities, FP Markets' MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that you can set price alerts on the desktop trading platform.
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 in the form of mobile push and email notifications on the desktop trading platform. 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) and go to 'Tools' and then to 'Options.'

FP Markets review - Desktop trading platform

 

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67.02% of retail CFD accounts lose money

FP Markets review
Markets and products

2.3
To dig even deeper in markets and products, visit FP Markets
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FP Markets offers a great portfolio in CFDs, forex, and cryptos. Australian stocks are available, too. Other stocks, ETFs, mutual funds, bonds, options and futures are missing.

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

  • Forex instruments
  • CFDs on stocks, stock index, commodity, crypto
  • Stocks traded only on the Australian Securities Exchange

FP Markets has a combined version 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 the lower spreads and faster execution because the 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. 67.02% 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 competitors with its stock CFD offerings. The selection of stock index CFDs and commodity CFDs is narrow, while the number of cryptocurrency CFDs is slowly catching up. We missed the ETF CFDs and bond CFDs.

FP Markets product selection
  FP Markets FXTM Markets.com
Currency pairs (#) 61 62 67
Stock index CFDs (#) 14 11 40
Stock CFDs (#) 9,000 172 2,027
ETF CFDs (#) - - 66
Commodity CFDs (#) 6 3 28
Bond CFDs (#) - - 4
Cryptos (#) 5 4 25

FCA bans the sale of crypto-derivatives to UK retail consumers from 6 January 2021.

You can also trade futures CFDs for global stock indices.

The default leverage level of the products on MetaTrader platforms can be changed, which is great, when you want to lower the risk of your trade. Unfortunately, you can't change the default leverage on IRESS platformsBe careful with forex and CFD trading, as the 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 solution: you can either be a Copier, or a Provider. As a Copier, you can choose between traders to follow based on their ratings. As a Provider, you can make yourself be available for other traders to follow. Read more here on FP Markets' website.

FP Markets review
Research

3.3
To check the available research tools and assets, visit FP Markets
Visit broker 67.02% of retail CFD accounts lose money

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Compare to its best reviewed alternative: FXTM
There are several research tools at FP Markets, most of the them are great. On the other hand, the charts' user-friendliness and design could be improved.
Pros Cons
Trading ideas No fundamental data available
User-friendly No/poor quality news flow

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

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

Trading ideas

FP Markets provides trading ideas through its blog 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 through MetaTrader platforms. Autochartist recognizes charting patterns and it gives an idea about the trading direction based on those patterns. To download this tool, you have to log into your 'Client Portal' and then click on 'Trading Tools'.

FP Markets review - Research - Recommendations

Fundamental data

In the Trader Toolbox you can get access to the historical data of the basic assets. Besides this, we have not found any other kind of fundamental data.

Charting

FP Markets has average charting tools. You can use 31 technical indicators and 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 find how we could remove an indicator from the chart.

FP Markets review - Research - Charting

News feed

The previously existing news feed is no longer available, there is a blog instead.

The Economic Calendar is under the 'Resources' menu item. It is simple and easy to see where the events are displayed in chronological order, but it doesn't include filtering and sorting.

You can stay on top by taking advantage of daily reports offered by FP Markets. We liked their short reports with a table showing some basic information, such as opening/closing prices, price changes, etc.

FP Markets review - Research - Economic calendar

Other research tools you will find useful

There is a bunch 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 are qualified for the tools, you 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 alarms, like a news alert.
  • Correlation Matrix: shows the correlation between the assets.
  • Sentiment Trader: shows the distribution of buyers and sellers.

FP Markets review - Research - Trader Toolbox

More research info
67.02% of retail CFD accounts lose money

FP Markets review
Customer service

4.0
To find customer service contact information details, visit FP Markets
Visit broker 67.02% of retail CFD accounts lose money

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Compare to its best reviewed alternative: FXTM
You can contact FP markets via live chat, phone and email in several languages. The email support is splendidly fast.
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 FP Markets' customer support is the number of available languages you can choose from: Arabic, Chinese, English, French, German, Greek, Indonesian, Italian, Malaysian, Portuguese, Russian, Spanish, Thai, and Vietnamese.

FP Markets' phone support is fast. We called them twice and it took ~30 sec both times to connect. We have mixed experience regarding the relevancy of phone support. During our second call, the agent redirected us to the webpage instead of providing the answers to our questions.

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.

The live chat was fast and we got relevant answers. 

As of 2021, customer support is 24/7 at FP Markets.

FP Markets review - Customer Service

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67.02% of retail CFD accounts lose money

FP Markets review
Education

5.0
To check the available education material and assets, visit FP Markets
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FP Markets does a great job in education. From demo accounts to ebooks, you will find several ways to learn. As of 2021, webinars are available too.
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

The educational tools are under the 'Resources' toolbar's 'Education' menu. As of 2021, FP Markets also offers webinars in different topics, focusing on MT4/MT5 trading.

FP Markets review - Education

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67.02% of retail CFD accounts lose money

FP Markets review
Safety

To find out more about safety and regulation, visit FP Markets
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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 differ 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.

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 15 years of operation a solid track record.

FP Markets has no banking background and it is not listed on any stock exchange, either.

 

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FP Markets review
Bottom line

Visit FP Markets if you are looking for further details and information
Visit broker 67.02% of retail CFD accounts lose money

or
Compare to its best reviewed alternative: FXTM

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, too.

On the downside, stock CFD fees are high and the product portfolio is limited, as it covers only CFDs (equities, indices, metals) and forex instruments. MT4 web and desktop trading platforms have outdated designs.

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

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67.02% of retail CFD accounts lose money

FP Markets review
FAQ

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 the 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?

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