The best alternatives to FP Markets are
- IC Markets - Global forex broker
- Pepperstone - Australian forex and CFD broker
- Axi - Australian forex broker
- TMGM - Global forex broker
Let's see in a bit more detail how the FP Markets alternatives compare to FP Markets and each other:
| FP Markets | IC Markets | Pepperstone | Axi | TMGM | |
|---|---|---|---|---|---|
| Overall score | 4.3 stars | 4.5 stars | 4.6 stars | 4.4 stars | 4.1 stars |
| Fees score | 4.0 stars | 4.7 stars | 4.5 stars | 4.4 stars | 3.9 stars |
| Account opening score | 5.0 stars | 5.0 stars | 5.0 stars | 4.2 stars | 5.0 stars |
| Deposit and withdrawal score | 4.7 stars | 4.9 stars | 4.8 stars | 4.4 stars | 4.3 stars |
| Web platform score | 2.8 stars | 2.8 stars | 2.8 stars | 2.8 stars | 2.8 stars |
| Markets and products score | 2.4 stars | 2.2 stars | 2.2 stars | 2.2 stars | 2.2 stars |
|
Visit broker
74.32% of retail CFD accounts lose money |
Visit broker
74-89% of retail CFD accounts lose money |
Visit broker
73.9% of retail CFD accounts lose money |
Visit broker
68% of retail CFD accounts lose money |
Why are these brokers considered good alternatives to FP Markets? There are many areas based on which FP Markets can be compared with others. When we say a given online broker is a good alternative to FP Markets we mean these brokers are comparable in the following areas:
- The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
- The type of clients they target, i.e. beginners, experienced investors, or day traders.
FP Markets alternatives recommendations
Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:
- FP Markets is recommended for forex and cfd traders familiar with the metatrader and iress trading platforms
- IC Markets is recommended for forex and cfd traders who value easy account opening and free deposit/withdrawal options
- Pepperstone is recommended for forex traders looking for great account opening and customer service
- Axi is recommended for forex traders familiar with the metatrader 4 platform
- TMGM is recommended for forex traders who prefer the metatrader platform
Important factors of finding FP Markets alternatives
So far BrokerChooser has reviewed 102 online brokers in detail, which gives this comparison a solid starting point.
Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we
- open a live account
- check over 100 criteria, with weighting based on readers' preferences
- refresh data regularly
Whether FP Markets or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:
Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. FP Markets is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost FP Markets alternative.
Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At FP Markets this is not a problem as you can have it ready on the same day you registered.
Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at FP Markets, this might not be the case at its alternatives.
Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.
Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given FP Markets alternative is a must.
Now let's dive into the details of how FP Markets and its alternatives perform in the most important areas!
FP Markets alternatives
IC Markets
IC Markets is an Australia-based global forex broker founded in 2007. The company has several branches and is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Seychelles Financial Supervisory Authority (FSA) and the Australian Securities and Investments Commission (ASIC).
IC Markets is considered safe because 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. 74.32% 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 who value easy account opening and free deposit/withdrawal options
| Pros | Cons |
|---|---|
|
• Low forex fees
|
• Limited product selection
|
|
• Easy and fast account opening
|
• Slow live chat support
|
|
• Free deposit and withdrawal
|
• No investor protection for non-EU clients
|
|
• Offers standard and raw spread accounts
|
|
Fees
IC Markets has low trading and non-trading fees. There is no inactivity or withdrawal fee. On the negative side, financing rates for CFDs are high.
| Pros | Cons |
|---|---|
|
• Low trading fees
|
• High financing rate for CFDs
|
|
• Low non-trading fees
|
|
|
• Low forex fees
|
|
| IC Markets | FP Markets | |
|---|---|---|
| EURUSD benchmark fee | $11.5 | $12.7 |
| EURGBP benchmark fee | $8.9 | $11.5 |
Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.
Account opening
The account opening process at IC Markets is user-friendly and fully digital. Our account was approved within a day, which is very fast.
| Pros | Cons |
|---|---|
|
• Fast
|
None |
|
• Fully digital
|
|
|
• Low minimum deposit
|
|
| IC Markets | FP Markets | |
|---|---|---|
| Minimum deposit | $200 | $100 |
| Time to open account | 1 day | 1 day |
If you are interested more in IC Markets minimum deposit, this overview will help you.
Deposit and withdrawal
IC Markets's deposit and withdrawal services are great, with many options available, mostly free of charge. On the negative side, withdrawal can only be made in the same way that funding happened.
| Pros | Cons |
|---|---|
|
• Credit/Debit card available
|
• Some restrictions apply to withdrawals
|
|
• No deposit fee
|
|
|
• Several account base currencies
|
|
| IC Markets | FP Markets | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
The web trading platform of IC Markets is provided by MetaTrader. The platform is highly customizable, available in many 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
|
• Poor design
|
| IC Markets | FP Markets | |
|---|---|---|
| Web platform score | 2.8 stars | 2.8 stars |
| Mobile platform score | 3.8 stars | 3.8 stars |
| Desktop platform score | 3.4 stars | 3.4 stars |
Learn more about IC Markets's web trading platform in the detailed IC Markets review.
Markets and products
At IC Markets, you can trade only forex and CFDs. In other words, many popular asset classes, such as real stocks and ETFs, are not available.
| IC Markets | FP Markets | |
|---|---|---|
| Stocks | No | Yes |
| ETFs | No | No |
| Forex | Yes | Yes |
| Funds | No | No |
| Bonds | No | No |
| Options | No | No |
| Futures | No | No |
| CFDs | Yes | Yes |
| Crypto | Yes | Yes |
Verdict
IC Markets is a great forex broker.
Its forex fees are low and opening an account is fast and easy. Deposits and withdrawals are free of charge and the process is user-friendly. The education section on the website is great.
On the other hand, IC Markets offers only forex and CFD products for trading. In addition, live chat support could be better, and non-EU clients are not covered by any investor protection scheme.
Feel free to try IC Markets as you can open an account within a day and there is no inactivity fee.
| IC Markets | |
|---|---|
| Summary | IC Markets is a global forex and CFD broker. The company is regulated by finanacial authorities globally, including the top-tier ASIC. |
| Fees score | 4.7 stars |
| Recommended for | Forex and CFD traders who value easy account opening and free deposit/withdrawal options |
FP Markets alternatives
Pepperstone
Pepperstone is an Australian forex broker that also offers CFDs. It was established in 2010 and opened a London office in 2015 to better serve its European clients. After Brexit, new clients registering from the EU are served by Pepperstone's German and Cyprus entities.
Pepperstone is considered safe because it's regulated by 7 national regulators, including three top-tier financial authorities: the UK's Financial Conduct Authority (FCA), Germany's BaFin and the Australian Securities and Investments Commission (ASIC).
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. 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 traders looking for great account opening and customer service
| Pros | Cons |
|---|---|
|
• Fast and fully digital account opening
|
• Mostly CFDs offered
|
|
• Great customer service
|
• MetaTrader platform is basic
|
|
• Seamless and free deposit and withdrawal
|
|
Fees
Pepperstone has low forex and non-trading fees, including no inactivity or account fees. However, CFD financing rates are high for a few assets.
| Pros | Cons |
|---|---|
|
• Low forex fees
|
• High costs for holding positions overnight
|
|
• No withdrawal fee
|
|
|
• No inactivity fee
|
|
| Pepperstone | FP Markets | |
|---|---|---|
| EURUSD benchmark fee | $11.6 | $12.7 |
| EURGBP benchmark fee | $10.3 | $11.5 |
Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.
Account opening
Pepperstone's account opening process offers a rewarding experience. It is fully digital, user-friendly, and requires no minimum deposit for the Standard account.
| Pros | Cons |
|---|---|
|
• Fast
|
None |
|
• Fully digital
|
|
|
• No minimum deposit
|
|
| Pepperstone | FP Markets | |
|---|---|---|
| Minimum deposit | $0 | $100 |
| Time to open account | 1 day | 1 day |
If you are interested more in Pepperstone minimum deposit, this overview will help you.
Deposit and withdrawal
Pepperstone provides plenty of deposit and withdrawal options, as well as a wide selection of account base currencies. However, there is a high, $20 fee for bank withdrawals for clients outside the EU and Australia.
| Pros | Cons |
|---|---|
|
• Credit/Debit card available
|
• High bank withdrawal fee for clients outside the EU/Australia
|
|
• No deposit fee
|
|
|
• Several account base currencies
|
|
| Pepperstone | FP Markets | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
Pepperstone's web trading platform is provided by MetaTrader. It is highly customizable, available in many languages, and has a clear fee report. On the other hand, it lacks a two-step login and price alerts, and its design is outdated.
| Pros | Cons |
|---|---|
|
• Clear fee report
|
• No two-step (safer) login
|
|
• Good customizability (for charts, workspace)
|
• No price alerts
|
|
• Order confirmation
|
|
| Pepperstone | FP Markets | |
|---|---|---|
| Web platform score | 2.8 stars | 2.8 stars |
| Mobile platform score | 3.8 stars | 3.8 stars |
| Desktop platform score | 3.4 stars | 3.4 stars |
Learn more about Pepperstone's web trading platform in the detailed Pepperstone review.
Markets and products
At Pepperstone you can only trade forex and a range of CFDs (commodity, stock index, ETF, share, and crypto CFDs). This means that many popular asset classes such as real stocks and ETFs are missing.
| Pepperstone | FP Markets | |
|---|---|---|
| Stocks | No | Yes |
| ETFs | No | No |
| Forex | Yes | Yes |
| Funds | No | No |
| Bonds | No | No |
| Options | No | No |
| Futures | No | No |
| CFDs | Yes | Yes |
| Crypto | Yes | Yes |
Verdict
Pepperstone is a great forex and CFD broker, regulated by multiplse top-tier authorities, including the FCA, the BaFin and ASIC.
The account opening is fast and fully digital. Customer service is great, providing lightning-fast and relevant answers. Deposit and withdrawal are a breeze, with no fees charged in most cases.
On the other hand, at Pepperstone you can trade mostly forex and CFDs. If you're looking for advanced features in your trading platform, you might find the MetaTrader platform slightly disappointing.
Feel free to try Pepperstone as there is no inactivity fee or minimum deposit for standard accounts.
| Pepperstone | |
|---|---|
| Summary | Pepperstone is a forex and CFD broker regulated by both the UK FCA and the ASIC in Australia. |
| Fees score | 4.5 stars |
| Recommended for | Forex traders looking for great account opening and customer service |
FP Markets alternatives
Axi
Axi (previously known as AxiTrader) is an Australian forex broker founded in 2007. The "Axi" brand was launched in 2020.
Axi is regulated by multiple financial authorities worldwide, such as the UK's Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC) and the Dubai Financial Services Authority (DFSA). Being regulated by several top-tier authorities is a good sign for Axi's safety.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.9% 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 traders familiar with the metatrader 4 platform
| Pros | Cons |
|---|---|
|
• Low forex fees
|
• Only forex and CFD trading
|
|
• No withdrawal/deposit fees
|
• Limited research tools
|
|
• Fully digital account opening
|
• 24/5 customer service
|
Fees
Axi has low forex and CFD fees, and deposits and withdrawals are free of charge.
| Pros | Cons |
|---|---|
|
• Low forex fees
|
• Inactivity fee
|
|
• No withdrawal fee
|
|
|
• Low CFD fees
|
|
| Axi | FP Markets | |
|---|---|---|
| EURUSD benchmark fee | $13.2 | $12.7 |
| EURGBP benchmark fee | $11.2 | $11.5 |
Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.
Account opening
Account opening at Axi is user-friendly and fully digital, but it takes a bit longer than at similar online brokers.
| Pros | Cons |
|---|---|
|
• Fully digital
|
• Slower account opening time
|
|
• No minimum deposit
|
|
|
• User-friendly
|
|
| Axi | FP Markets | |
|---|---|---|
| Minimum deposit | $0 | $100 |
| Time to open account | 1-3 days | 1 day |
If you are interested more in Axi minimum deposit, this overview will help you.
Deposit and withdrawal
Axi charges no deposit or withdrawal fees. You can use either bank card, bank transfer or e-wallets for deposits, but there are some withdrawal limitations for bank cards.
| Pros | Cons |
|---|---|
|
• Credit/Debit card available
|
• Some restrictions apply to withdrawals
|
|
• Free withdrawal
|
|
|
• No deposit fee
|
|
| Axi | FP Markets | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
The web trading platform of Axi (provided by MetaTrader) is highly customizable and has a clear fee report. On the other hand, its design is outdated and it lacks price alerts.
| Pros | Cons |
|---|---|
|
• Clear fee report
|
• No two-step (safer) login
|
|
• Good customizability (for charts, workspace)
|
• No price alerts
|
|
• Order confirmation
|
• Poor design
|
| Axi | FP Markets | |
|---|---|---|
| Web platform score | 2.8 stars | 2.8 stars |
| Mobile platform score | 3.8 stars | 3.8 stars |
| Desktop platform score | 3.4 stars | 3.4 stars |
Learn more about Axi's web trading platform in the detailed Axi review.
Markets and products
At Axi, you can trade only forex and CFDs. Other popular asset classes like real stocks or ETFs are not available.
| Axi | FP Markets | |
|---|---|---|
| Stocks | No | Yes |
| ETFs | No | No |
| Forex | Yes | Yes |
| Funds | No | No |
| Bonds | No | No |
| Options | No | No |
| Futures | No | No |
| CFDs | Yes | Yes |
| Crypto | Yes | Yes |
Verdict
Axi is regulated by multiple authorities globally, including the UK's FCA and ASIC in Australia.
On the plus side, forex fees are low, and deposits and withdrawals are free of charge. Account opening is easy and fully digital, without any minimum deposit, which is also great.
Axi has some drawbacks, though. Its product range is limited to forex and CFDs, and its research tools lack recommendations and fundamental data. In addition, customer support is available only 24/5.
Feel free to try Axi as its trading fees are low and there are no deposit or withdrawal fees.
| Axi | |
|---|---|
| Summary | Axi (previously known as AxiTrader) is an Australian forex broker, regulated by top-tier authorities such as the UK's FCA and Australia's ASIC. |
| Fees score | 4.4 stars |
| Recommended for | Forex traders familiar with the MetaTrader 4 platform |
FP Markets alternatives
TMGM
TMGM, or Trademax Global Markets, is an Australia-based global forex broker founded in 2013. The company has several branches and is regulated by the Australian Securities and Investment Commission (ASIC), the New Zealand Financial Markets Authority (FMA) and the Vanuatu Financial Services Commission (VFSC).
TMGM is considered safe because 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. 68% 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 traders who prefer the metatrader platform
| Pros | Cons |
|---|---|
|
• Low forex fees
|
• Slim product portfolio
|
|
• Easy and fast account opening
|
• Limited research and educational tools
|
|
• Free deposit and withdrawal
|
• Inactivity fee
|
Fees
TMGM has low forex fees. While TMGM doesn't charge a fee for withdrawals, there's an inactivity fee if you don't trade for more than six months.
| Pros | Cons |
|---|---|
|
• Low trading fees
|
• Inactivity fee
|
|
• Low forex fees
|
|
|
• No withdrawal fee
|
|
| TMGM | FP Markets | |
|---|---|---|
| EURUSD benchmark fee | $13.1 | $12.7 |
| EURGBP benchmark fee | $11.7 | $11.5 |
Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.
Account opening
The account opening process at TMGM is user-friendly and fully digital. It was also very quick, as our account was approved within a day.
| Pros | Cons |
|---|---|
|
• Fast
|
None |
|
• Fully digital
|
|
|
• Low minimum deposit
|
|
| TMGM | FP Markets | |
|---|---|---|
| Minimum deposit | $100 | $100 |
| Time to open account | 1 day | 1 day |
If you are interested more in TMGM minimum deposit, this overview will help you.
Deposit and withdrawal
TMGM's depositing and withdrawal services are great. Many options are available for moving your money in and out, and they are free of charge.
| Pros | Cons |
|---|---|
|
• Credit/Debit card available
|
• Minor currencies not accepted
|
|
• Free withdrawal
|
|
|
• No deposit fee
|
|
| TMGM | FP Markets | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
TMGM uses the MetaTrader web trading platform. It is highly customizable and has a clear fee report, but its design is outdated and it lacks a two-step login and price alerts.
| Pros | Cons |
|---|---|
|
• Clear fee report
|
• No two-step (safer) login
|
|
• Good customizability (for charts, workspace)
|
• No price alerts
|
|
• Order confirmation
|
• Poor design
|
| TMGM | FP Markets | |
|---|---|---|
| Web platform score | 2.8 stars | 2.8 stars |
| Mobile platform score | 3.8 stars | 3.8 stars |
| Desktop platform score | 3.4 stars | 3.4 stars |
Learn more about TMGM's web trading platform in the detailed TMGM review.
Markets and products
At TMGM, you can trade only forex, CFDs and cryptos. This means that many popular asset classes, like real stocks and ETFs, are not available.
| TMGM | FP Markets | |
|---|---|---|
| Stocks | No | Yes |
| ETFs | No | No |
| Forex | Yes | Yes |
| Funds | No | No |
| Bonds | No | No |
| Options | No | No |
| Futures | No | No |
| CFDs | Yes | Yes |
| Crypto | Yes | Yes |
Verdict
TMGM's forex fees are low, and account opening is fast and easy. Deposits and withdrawals are free of charge, and the process is user-friendly.
On the other hand, the product portfolio covers only forex and CFDs. In addition, clients are not covered by any investor protection.
Feel free to try TMGM, as you can easily open an account within a day.
| TMGM | |
|---|---|
| Summary | TMGM is an Australian forex broker. It is regulated by both ASIC and VFSC, and is available globally for clients. |
| Fees score | 3.9 stars |
| Recommended for | Forex traders who prefer the MetaTrader platform |
FP Markets alternatives
FP Markets
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
| 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
|
Fees
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 | IC Markets | Pepperstone | Axi | TMGM | |
|---|---|---|---|---|---|
| S&P 500 index CFD fee | $2.4 | $2.4 | $2.3 | $3.2 | $4.9 |
| Euro Stoxx 50 index CFD fee | $2.2 | $2.4 | $2.1 | $2.8 | $1.7 |
| EURUSD benchmark fee | $12.7 | $11.5 | $11.6 | $13.2 | $13.1 |
| GBPUSD benchmark fee | $7.0 | $5.6 | $9.1 | $4.9 | $8.3 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stock and $20k for FX
Account opening
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
|
|
| FP Markets | IC Markets | Pepperstone | Axi | TMGM | |
|---|---|---|---|---|---|
| Minimum deposit | $100 | $200 | $0 | $0 | $100 |
| Time to open account | 1 day | 1 day | 1 day | 1-3 days | 1 day |
Learn more about FP Markets minimum deposit here.
Deposit and withdrawal
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
|
|
| FP Markets | IC Markets | Pepperstone | Axi | TMGM | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | Yes | Yes | Yes |
| Electronic wallets | Yes | Yes | Yes | Yes | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
Web trading platform
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 | IC Markets | Pepperstone | Axi | TMGM | |
|---|---|---|---|---|---|
| Web platform score | 2.8 stars | 2.8 stars | 2.8 stars | 2.8 stars | 2.8 stars |
| Mobile platform score | 3.8 stars | 3.8 stars | 3.8 stars | 3.8 stars | 3.8 stars |
| Desktop platform score | 3.4 stars | 3.4 stars | 3.4 stars | 3.4 stars | 3.4 stars |
Learn more about FP Markets's web trading platform in the detailed FP Markets review.
Markets and products
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 | IC Markets | Pepperstone | Axi | TMGM | |
|---|---|---|---|---|---|
| Stocks | Yes | No | No | No | No |
| ETFs | No | No | No | No | No |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Funds | No | No | No | No | No |
| Bonds | No | No | No | No | No |
| Options | No | No | No | No | No |
| Futures | No | No | No | No | No |
| CFDs | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes | Yes |
Verdict
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.
| FP Markets | |
|---|---|
| Summary | FP Markets is an Australian CFD and forex broker regulated by the top-tier ASIC. |
| Fees score | 4.0 stars |
| Recommended for | Forex and CFD traders familiar with the MetaTrader and IRESS trading platforms |
FP Markets alternatives
Bottom line
Based on our analysis, there are several good alternatives to FP Markets. They all offer similar products and target similar customers. Here's a recap of the results in a table.
| Broker | Info | Recommended for |
|---|---|---|
| FP Markets | Australian CFD and forex broker | Forex and CFD traders familiar with the MetaTrader and IRESS trading platforms |
| IC Markets | Global forex broker | Forex and CFD traders who value easy account opening and free deposit/withdrawal options |
| Pepperstone | Australian forex and CFD broker | Forex traders looking for great account opening and customer service |
| Axi | Australian forex broker | Forex traders familiar with the MetaTrader 4 platform |
| TMGM | Global forex broker | Forex traders who prefer the MetaTrader platform |
Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.
Comments