FP Markets
XM
*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.
Basic data of broker
Recommended for Forex and CFD traders familiar with the MetaTrader and IRESS trading platforms
Recommended for Forex and CFD traders who prefer MetaTrader platforms and seek great account opening
Australia
Cyprus
Fees
Low trading and non-trading fees, high stock CFD fees
Average trading and non-trading fees, low CFD fees
Stock and ETF fees
Forex fees
Fund fees
Bond fees
Options fees
Futures fees
Crypto fees
CFD fees
Non-trading fees
Deposit and withdrawal
10
10
Deposit type
Withdrawal type
Account opening
$100
$5
1 day
1 day
Proof of identity: passport / national ID card / driver's license Proof of residency: bank statement / utility bill
Proof of identity: passport / national ID card / driver's license Proof of residency: bank statement / utility bill
Trading platform
Markets and products
Disclaimer: 75.31% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Disclaimer: 74.89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Research, education
Mid-range
Mid-range
Customer service
Security
No protection under ASIC, €20,000 under CySEC, No protection under Financial Services Authority (St. Vincent and the Grenadines)
€20,000 for EEA residents, no protection for others
2005
2009
Australia, Cyprus, St. Vincent and the Grenadines
Cyprus, Australia, Belize, United Arab Emirates
For detailed information and hands-on experience, read our review of this broker.
For detailed information and hands-on experience, read our review of this broker.
*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.
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's service is on par with XM's and a comparison of their fees shows that FP Markets's fees are similar to XM's.
Account opening takes about the same effort at FP Markets compared to XM, deposit and withdrawal processes are about the same quality at FP Markets, while customer service quality is similar to XM's.
Our experts rated the trading platform of FP Markets as being of the same quality as the platform of XM, found that clients have access to about the same number of markets and products with FP Markets, while XM provides somewhat better research and education.