FP Markets Review: Key Findings for 2023

If you are looking to trade non-CFD stocks (and own the underlying asset or stock), then No. FP Markets offer many different ways to contact their representatives, and customer service is open 24/7. All three IRESS account types outlined earlier include ViewPoint Essential. Although MT4 will be the preferred option for most people, don’t rule out MT5. This advanced platform does offer some extra functionality if you know how to use it, such as the option to test strategies for algorithmic trading and the chance to develop your own custom indicators. FP Markets analytics consists of daily and weekly technical analysis reports and a fundamental analysis folder covering current world economics events.

Unfortunately, there is no negative balance protection for ASIC and St Vincent clients and negative balance protection is only available if you have an account with the CySEC entity. We’ve researched the MetaTrader offerings of 60+ forex brokers and found that 81% of brokers offer the more famous version of MetaTrader, MT4, while only 63% offer the newest version, MT5. We have in-depth guides on MetaTrader if you’d like to learn more; check out our guide to MT4, or read our in-depth guide to MT5. Yes; in case you were wondering, 80% of the brokers reviewed on BrokerNotes.co offer this popular feature.

• In addition to its mobile app for iOS and Android, traders who want a downloadable platform can choose from the industry-standard MetaTrader suite.
• The commission structure is highly competitive and a free 24-hour phone broking service is included.
• Overall, we found FP Markets as one of the most awarded CFD and FX trading providers with good quality trading environment.

Fees on the standard accounts are generally low compared to other brokers. The IRESS accounts have much higher minimum deposits and are more suited to serious stock traders (and not available to clients through the SVG FSA-regulated entity). DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about.

FP Markets Spreads

FP Markets requires a minimum deposit of $100 for both their Standard and Raw Spread accounts. It’s important to note that these full amounts go directly into your trading account. FP Markets offer a free demo account so you can try the FP Markets platform with virtual trading before you put down a payment. I haven`t found out https://forex-review.net/fp-markets/ if the demo account is free of charge and for how long I may use it. This platform is not for immediate beginners and you need to have at least some previous experience to thrive. It’s a great place for all kinds of traders but it’s most optimal for scalpers and day traders looking to up their game with high-end trading tools.

The registration form is everywhere to be found on their website. With social trading, you share strategies with each other and as a new trader, you will have an insight into the ideas behind already profitable trader’s thoughts. However, we were disappointed with the multiple inaccurate answers by the FP Markets customer support executives. Finally, we withdrew our funds to see if there are any issues with the withdrawal process.

FP Markets Deposits and Withdrawals

The company complies with the most stringent regulations for investor protection, which are laid out by its regulator – ASIC. FP Markets commits to adhere to strict capital payout obligations and has a risk management program to ensure its clients’ safety. FP Markets keep the funds of its clients from the firm’s capital. Additionally, FP Markets deliver Consistently Tight Spreads, Lightning Execution, Unmatched 24/7 Multilingual Customer Support, and various Account Types to suit all trading strategies and styles.

With support for Autochartist plugin integration as well as platform add-ons from FX Blue as part of its Trader Toolbox offering, FP Markets is a great choice for traders who wan to use MetaTrader. FP Markets’ excellent MetaTrader offering had it finishing Best in Class for MetaTrader in our 2023 Annual Awards. ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry.

Best Broker Tables

Trading CFD’s on IRESS is much better than other trading platforms we have seen. You will have access to customized charting tools, technical analysis, and the ability to store and save your charts. CFD traders have access to more than 10,000 underlying assets, across all global markets. For a new CFD trading account, the minimum deposit requirement is $1,000. Traders can use a variety of industry-leading trading platforms to access global markets and manage their portfolios. Traders can also access the global markets with Iress suite’s state of the art trading platforms with a $55 monthly fee, including GST.

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 is a well-regulated Forex broker with an excellent stock trading platform designed for more experienced stock pickers. We were also impressed with how easy the FP Markets Trading App was to use and the quality of FP Markets’ customer service.

News feed

This compensation should not be seen as an endorsement or recommendation, nor shall it bias our broker reviews. Any rates, terms, products and services on third-party websites are subject to change without notice. The broker provides daily analysis of global markets to help keep you up to speed with what is happening around the markets. I think this can be a good way to get inspiration for trade ideas that you may have otherwise overlooked. This includes Trading Glossary that will help you understand trading terms, FAQ Section, Support Hub that tackles more about trading and analysis, Newsletter, and Free eBooks for trading. Lastly, the Premier IRESS Account requires a $50,000 AUD or equivalent minimum deposit.

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. 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 the most important fees are spreads, commissions and financing rates.

Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. For CFD traders, there are three account types offered by FP Markets. The Standard IRESS Account has a minimum deposit requirement of $1,000 AUD or equivalent. If a trader generates at least a $150 AUD commission in a month, then the $55 GST fee per month is waived.

These are available to trade 24 hours a day, 5 days a week, and on both the MT4 and MT5 platforms. FP Markets allows you to trade cryptocurrencies without the need for a crypto wallet. They offer all the major cryptocurrencies including Bitcoin, Ethereum, XRP, and Litecoin.

Always verify that your broker, is licensed by your local financial regulator. There is a short online form to complete after which you will need to verify your email. Once confirmed you are able to fund your account and start trading. Customer support are available to assist during the account opening process if required.

• However, traders should be aware that they will be onboarded through the Saint Vincent-based entity (SVG FSA), which has little regulatory oversight, unless they manually choose their regulation.
• Most of the tools are free of charge, except for the VPS and Traders Toolbox, which require traders to deposit a minimum of 1,000 AUD (or currency equivalent).
• You will have access to customized charting tools, technical analysis, and the ability to store and save your charts.

On the other hand, they can also be helpful for generating trading signals without you needing to stare at charts all day long. Through the FP Markets app, you can place, monitor and review trades within seconds. Traders can also conduct research and technical analysis using a wide range of trading tools. I think MT4 should be more than adequate for the majority of you who just want to follow the markets and make trades. If you are looking to do a lot more in terms of market analysis and complex strategies, then you might want to consider MT5.