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FP Markets Logo
4.3
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74-89% of retail CFD accounts lose money

Summary

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

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74-89% of retail CFD accounts lose money

FP Markets was founded in 2005 and it is an Australian CFD and forex broker. It's regulated by the Australian Securities and Investments Commission (ASIC).

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

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% 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
4.3
Fees
4.0
Account opening
5.0
Deposit and withdrawal
5.0
Trading platform
3.0
Markets and products
2.0
Research
4.0
Customer service
3.0
Education
4.0

FP Markets pros and cons

FP Markets offers very low forex fees. You can be up and running very quickly as both the account opening and depositing is super easy and fast. Additionally, you'll get many high-quality educational tools ranging from a demo account to e-books.

The stock CFD fees are quite high and the product line up is limited to forex, CFDs, crypto currency. With FP Markets you will not have any investor and negative balance protection.

Pros Cons
Low forex fees High stock CFD fees
Easy and fast account opening Limited product portfolio
Quick deposit and withdrawal No investor and negative balance protection
FP Markets main features and highlights
🗺️ Country of regulation Australia
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $100
🕖 Time to open an account 1 day
💳 Deposit with credit card Available
👛 Depositing with electronic wallet Available
💱 Number of base currencies supported 10
🎮 Demo account provided Yes
🛍️ Products offered Stock, Forex, CFD, Crypto
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74-89% of retail CFD accounts lose money
Gergely Korpos

Gergely Korpos

Co-founder, CPO

Author of this review

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

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

4.0
FP Markets has low forex fees 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 All costs are built into the spread: 0.5 is the average spread cost.
Europe 50 CFD Low All costs are built into the spread: 2.0 is the average spread cost.
EURUSD Low ECN account pricing: $3.5 per lot per trade commission and there is also 0.45 pips spread cost
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, spreads, commissions and financing rates are the most important fees.

We also compared FP Markets's fees with those of two similar brokers we selected, XM and XTB. 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 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 chosen 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 is:

  • 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.

You might want to dig deeper and check FP Markets trading fee calculations in detail. Let's do so.

CFD fees

FP Markets has generally average CFD trading fees, except for stock CFDs where the fees are high.

FP Markets CFD fees for a $2,000 long position held for one week
  FP Markets XM XTB
S&P 500 CFD benchmark fee $0.8 $2.4 $2.0
Europe 50 CFD benchmark fee $1.9 $2.4 $2.2
Apple CFD benchmark fee $32.0 $3.4 $17.9
Vodafone CFD benchmark fee $25.7 $5.6 $20.9

When you trade with 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 amount of commission may vary (see available account types below). The costs for the ECN Raw account comprise a smaller 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 is charged.

FP Markets forex benchmark fees of a $20,000 30:1 long position held for one week
  FP Markets XM XTB
EURUSD benchmark fee $13.9 $17.1 $15.0
GBPUSD benchmark fee $12.4 $13.8 $11.1
AUDUSD benchmark fee $11.5 $13.9 $10.0
EURCHF benchmark fee $3.7 $9.1 $6.6
EURGBP benchmark fee $10.0 $12.2 $9.9

Real stock fees

FP Markets lets you access to real stocks, but only the stocks 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.

No inactivity fee

FP Markets non-trading fees
  FP Markets XM XTB
Account fee No No No
Inactivity fee No Yes No
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0

FP Markets does not charge an inactivity fee or account fees, except for IRESS Trader. If you use IRESS Trader, a $55 monthly commission is charged unless you generate at least $150 monthly commission or choose the Premier account type.

FP Markets neither applies any withdrawal fees if you use domestic bank transfer or credit cards. In other cases, the withdrawal fee is charged as per this table:

Withdrawal method Withdrawal fee
International bank transfer AUD 25
Neteller 2%, maximum $30
Skrill 1% + country fees (if applicable)
Fasapay 0.50%
Ngan Luong VND 10 +1%
Online Pay $18

FP Markets review
Account opening

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

Can you open an account?

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74-89% 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, India, New Zealand, Belgium, South Africa, and some other countries.

What is the minimum deposit at FP Markets?

In the case of FP Markets, the amount of minimum deposit depends on two major factors. First, based on the assets you wish to trade with (forex, CFD, stock) you decide either to open an account using Metatrader Platforms for forex trading, or go for CFD and ASX stock market and open an account using the IRESS platform. The minimum deposit for Metatrader standard accounts is $100, while the same standard account with IRESS platform needs to be funded with at least $1,000. 

Account types

FP Markets has two trading platforms and each has seaprate account types. Beyond this, there's difference between accounts based on ownership as well. Bit complicated, right? Let's bring some clarity here:

With Metatrader you can have two accounts

  • Standard
  • Raw

On the IRESS platform you have three alternatives:

  • Standard
  • Platinum
  • Premier

Based on the ownership FP markets has still further options to choose from:

  • 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 provide you a clear picture, we prepared the following table summarizing the different account types and the most important fees applying to them.

FP Markets account types
  Minimum deposit Pricing and fees Available trading platform
Forex
Raw  $100 Lower spreads and the 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 $150 commission per month

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

For the purpose of this review, we've gone with the Raw account on Metatrader.

FP Markets review - Forex account types

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

Another great feature we found during the test is the availability of opening more sub-accounts. In this case, you can have different base currencies at one account, for instance, a USD, an EUR and GBP subaccounts.

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.

In the following 4 steps let s guide you through the of FP Markets account opening process:

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

FP Markets review - Account opening

FP Markets review
Deposit and withdrawal

5.0
FP Markets offers a great variety of deposit and withdrawal options, but it charges the withdrawals for some of the methods.
Pros Cons
Credit/Debit card available Some withdrawal options are not free of charge
No deposit fee
Several account base currencies

Account base currencies

Comparing other brokers we tested FP Markets, has the widest selection. You can choose from 10 base currencies: EUR, GBP, USD, AUD, CAD, SGD, HKD, JPY, NZD, CHF

Base currencies at FP Markets vs similar brokers
  FP Markets XM XTB
Number of base currencies 10 7 4

Why does this matter? Two things. First, if you fund your account in the same currency as your bank account, you won't be charged a currency conversion fee. Second, if you trade assets in the same currency as your account base currency, you will not have to pay a conversion fee.

A convenient way to save on the currency conversion fees can be to open a multi-currency bank account. Revolut or Transferwise both offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. The account opening only takes a few minutes on your phone.

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Deposit fees and options

During the test, we saw that FP Markets do not charge deposit fees in most of the cases. You can choose from many options when it comes to funding your account, FP Markets keeps up with its competitors in this regard. 

FP Markets deposit options
  FP Markets XM XTB
Bank transfer Yes Yes Yes
Credit card Yes Yes Yes
Electronic wallets Yes Yes Yes

The list of electronic wallet options is impressive: Neteller, Skrill, China Union Pay, BPay, PoliPay, Fasapay, Ngang Luong, PaySec

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

 

At the same time to present an unbiased view, we have to mentioned FP Markets' deposit fees may vary based on the trading platform and the method how you wish to fund your account.

FP Markets deposit fees
Deposit Method MetaTrader platforms IRESS platforms

Domestic bank transfer

China Union Pay

BPay

PoliPay

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%
PaySec Free 3.25% for deposits in IDR/MYR/THB

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 card, and electronic wallets for withdrawal and you can use the same electronic wallets as for the deposit, except PoliPay, PaySec, and BPay.

FP Markets withdrawal fees and options
  FP Markets XM XTB
Bank Transfer Yes Yes Yes
Credit card Yes Yes No
Electronic wallets Yes Yes No

The applied withdrawal fees also vary based on the method you wish to use. 

Withdrawal method Withdrawal fee
International bank transfer AUD 25
Neteller 2%, maximum $30
Skrill 1% + country fees (if applicable)
Fasapay 0.50%
Ngan Luong VND 10 +1%
China Union Pay $18

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

You can only withdraw money to accounts in your name.

How do you withdraw money from FP Markets? Follow us along with the next steps and we will show you the process:

  • Log into the 'Client Area'
  • Go to the 'Funding' and the 'Withdraw'
  • Select the withdrawal method and the withdrawal amount
  • Initiate the withdrawal

Compare to other brokers

FP Markets review
Web trading platform

3.0
The web trading platform of FP Markets 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 3 / 5 stars Yes
Mobile 4 / 5 stars Yes
Desktop 3 / 5 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, the 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 $150 commission per month or open a Platinum account

In this review, we tested the MetaTrader 4 trading platform because most clients would go with this and the use of 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

The 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. For example, it took some time until we found 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. Providing this feature would be more convenient.

Search functions

The search functions are OK. You can find the assets in categories although we missed the usual search function when you can type in the asset's name manually.

FP Markets review - Web trading platform - Search

Placing orders

You can use the basic order types. You will not find very sophisticated orders like the 'one cancels the other' order. The following order types are available:

  • Market
  • Limit
  • Stop

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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FP Markets review
Mobile trading platform

4.0
FP Markets has a great mobile trading platform, offered by MetaTrader. It is well designed and user-friendly. On the flip side, it lacks the 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

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

Just like at the web trading platform, you can choose from a lot of languages on the mobile trading platform too. 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 Greem Hindi Indonesian
Italian Japanese Korean 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.

You can't use 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 categorized 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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FP Markets review
Desktop trading platform

3.0
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)
Price alerts

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, 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). You can add them if you go to 'Tools' and then 'Options.'

FP Markets review - Desktop trading platform

 

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FP Markets review
Markets and products

2.0
FP Markets offers a great product selection in CFDs, forex, cryptos. Real stocks from the Australian market are available as well. Other real stocks, ETFs, mutual funds, bonds, options and futures are missing.

FP Markets has a great selection of product lineup in three asset classes:

  • Forex,
  • Stocks - stock traded only on Australian Securities Exchange,
  • CFDs

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

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% 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 the competitors in stock CFD offering. To have a clear overview, we must note that stock index CFD, commodity CFD selection is much less than at the competitors, while the number of cryptocurrency CFDs is slowly catching up. We missed the ETF CFDs and bond CFDs as well.

  FP Markets XM XTB
Currency pairs (#) 45 57 49
Stock index CFDs (#) 12 18 42
Stock CFDs (#) 10,328 1,200 1,700
Commodity CFDs (#) 4 15 21
Cryptos (#) 5 5 25

You can also trade with futures CFDs for global stock indices.

You can change the default leverage level of the products on MetaTrader platforms, which is great when you want to lower the risk of your trade. For example, instead of trading with 5:1 leverage, only trade with 2:1 leverage in case of stock CFDs. Be careful with forex and CFD trading since the preset leverage levels are high. Unfortunately, you can't change the default leverage on IRESS platforms.

Stocks 

As we highlighted in the beginning, FP Markets offers real stocks, but only the stocks on the Australian Securities Exchange. If you'd like to make a comparison you'll notice that XM does not offer real stock at all while XTB offers stocks from 17 different markets.

  FP Markets XM XTB
Stock markets (#) 1 - 17

FP Markets review
Research

4.0
FP Markets' research is OK as you can use several technical tools. On the negative side, trading ideas are not provided.
Pros Cons
Data on asset fundamentals No trading ideas
User-friendly

The basic FP Markets research tools can be found 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 the MetaTrader 4 trading platform.

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

Trading ideas

FP Markets does not provide trading ideas.

Fundamental data

In Traders 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, listed at FP markets.

Charting

FP Markets has OK 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, we hardly found how we could remove an indicator from the chart.

FP Markets review - Research - Charting

News feed

The generally available news feed of FP Markets could be improved. The news are very brief, written in a one-sentence style, lacking any charts and other visual elements.

Under the 'Economic Calendar' tab, it's great that you can use some filters, like a country filter. On the flip side, its design feels outdated.

You can stay on top by taking advantage of daily reports offered by FP Markets. We liked very short reports with a table showing some basic information, as the open/closing price, price change, etc.

FP Markets review - Research - Daily Market Report

Other research tools you will find useful

There is a bunch of analytical tools offered in a package, called Trader Toolbox. For accessing the Trader Toolbox, you need to deposit at least AUD 1,000 or equivalent in other currency. After 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 - it makes you available to set up more sophisticated alarms, like a news alert.
  • Correlation Matrix - it shows the correlation between the assets.
  • Sentiment Trader - it shows the distribution of the buyers and sellers.
  • and so on

FP Markets review - Research - Trader Toolbox

Compare research pros and cons

FP Markets review
Customer service

3.0
You can contact FP markets in many ways and in local languages. Both the phone and the live chat could be better and 24/7 availability is missing.
Pros Cons
Live chat No 24/7 support
Great email support Low quality phone 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, Indonesian, Italian, Malaysian, Portuguese, Russian, Spanish, and Vietnamese.

The live chat function works on an average level. The response time is quick, but the answers we received were mostly irrelevant or even worse, incorrect. One example is when we asked them about real stocks, they said that they only provide stock CFDs, which is actually not true. We also asked about the CFD trading platforms, but we got only a link which directed to the forex platforms.

The area that needs the most improvement is FP Markets phone support.  We got connected to agents twice, but neither could properly answer our questions.

Out of the three contact options email worked the best for us. FP Markets offers great email support providing quick and relevant answers. We sent them emails four times and got answers to all our mails within a few hours.

We missed the 24/7 availability.

FP Markets review - Customer Service

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74-89% of retail CFD accounts lose money

FP Markets review
Education

4.0
FP Markets does a great job in education. From the demo account to ebooks, you will find several ways to educate yourself, but we couldn't find upcoming webinars.
Pros Cons
Demo account No upcoming webinars
Trading platform tutorial
Educational videos

At FP Markets you can learn in the following ways:

  • Demo account
  • Platform tutorial videos
  • General educational videos
  • High-quality e-books

The educational tools can be found under the 'Client Resources' and 'Education' tabs

Within the video library, we found a lot of materials. On the flip side, they are not the most up-to-date as some videos were published in 2017. Here, we also found recorded webinars, but unfortunately no upcoming webinars were scheduled.

FP Markets review - Education

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FP Markets review
Safety

FP Markets is regulated by the top-tier Australian Securities and Investments Commission (ASIC). On the other hand, you don't get any investor protection and negative balance protection.
Pros Cons
Majority of clients belong to a top-tier financial authority No investor protection
No negative balance protection
Does not hold a banking license

Is FP Markets regulated? Yes, it is regulated by the Australian Securities and Investments Commission (ASIC).

FP Markets is based in Australia. Is FP Markets safe? To be certain, it is best to check two questions: how you are protected if something goes wrong and what the background of the broker is.

How you are protected

FP Markets provides its services through its Australian legal entity, called First Prudential Markets Pty Ltd which is regulated by the Australian Securities and Investments Commission (ASIC). This matters since in their case, no investor protection is provided.

FP Markets does not provide negative balance protection either.

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. FP markets has no banking background and not listed on any stock exchange either.

Being in operation for a long time and regulated by a top-tier regulator are all great signs of FP Markets' safety.

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 is fast and you'll find high-quality educational tools, too.

On the negative side, the stock CFD fees are high and their product portfolio is limited, as it covers only CFD, forex and stocks from the Australian Securities Exchange ASX. Unfortunately, neither investor protection nor negative balance protection is provided at FP Markets.

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

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74-89% of retail CFD accounts lose money

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Visit broker
74-89% of retail CFD accounts lose money
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