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Overall Rating

FP Markets Review

FP Markets is a true ECN Broker from Australia. This Broker is regulated by the Australian Securities and Investments Commission (ASIC).FP Markets provides true ECN spreads, MT4, MT5, mobile trading, and web-based global forex trading opportunities. In addition, this broker has over 50 currency pairs including, gold, silver, CFDs, Futures, and Shares.

Overview

Company
8/10
Trust
9/10
Trading Platform
8/10
Account Types
8/10
Cryptocurrency
8 /10
Costs
8/10
Customer Support
9/10
Regulation
8/10

At AtoZMarkets.com we have readers-first policy. Thus, we always put our readers' safety as a priority in our business line. We will never just satisfy ourselves with Brokers' public information, however, go in-depth. Often we will also open live and demo accounts and test brokers directly!

For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography and reputation. The very same standards apply in case of this FP Markets broker review. Please see the following article on how we conduct our broker reviews.

Company

8/10

FP Markets is a true ECN Broker from Australia. This Broker is regulated by the Australian Securities and Investments Commission (ASIC).FP Markets provides true ECN spreads, MT4, MT5, mobile trading, and web-based global forex trading opportunities. In addition, this broker has over 50 currency pairs including, gold, silver, CFDs, Futures, and Shares. 

FP Markets is an affiliate of the Australian firm First Prudential Markets Pty Ltd. which was established in 2005. The parent company having more than 14 years of brokerage operations. This is a powerful confirmation that the brokerage company is backed up by experienced brokers.

The headquarter of FP Markets is in Sydney, Australia, with another couple of branches in Beijing and Shanghai in China.

PROS
True ECN Broker
IRESS Trading Platform
Licensed and regulated by ASIC
CFD account types
ECN Environment Provided
CONS
Social Trading Not Supported
IRESS Monthly Fee

Trust

9/10

As an ASIC-approved forex and CFD broker, FP Markets commits to the operation guideline and regulations set by the Australian regulator.

This is considered to be one of the toughest watchdogs in the financial sector, observing brokers about their work policy and consumer protection. The license they obtain from the Australian Financial Services License (AFSL). With that being said, the client always has a legal body to resort to in case of dissatisfaction with the service or dispute between the two parties.

 Moreover, FP Markets has a record of coveted awards in major customer service, trader education, and trade execution.

 Another basic pillar in measuring how trust-worthy FP Markets can be is that their safe to keep their clients’ funds in is the National Australian Bank. This assures that the client’s funds from the operational funds the company uses to run its business.

Trading Platform

8/10

FP Markets provides true ECN spreads, MT4, MT5, mobile trading, and web-based global forex trading opportunities. They are available on M.S.Windows, macOS, iOS, and Android systems.

The broker also offers trading CFDs, and provides the following currency pairs, commodities, indices and cryptocurrencies: fee

AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, CHFJPY, EURAUD, EURCHF, EURCZK, EURGBP, EURHUF, EURJPY,, EURNOK, EURNZD, EURPLN, EURSEK, EURTRY, EURUSD, EURZAR, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, GBPPLN, GBPSGD, GBPUSD, NZDCAD, NZDCHF, NZDJPY, NZDSGD, NZDUSD, USDCAD, USDCHF, USDCZK, USDHUF, USDJPY, USDNOK, USDPLN, USDSEK, USDSGD, USDTRY, USDZAR

 

Metals

XAUUSD, XAUAUD, XAGUSD, XAGAUD

 

Indices

AUS200, CHINA50, UK 100, STOXX50, JP225, GER30, US500, DJ30, NAS 100, HK50, FRA 40, SPA35

 

Commodities

WTI, GOLD, SILVER

 

Cryptocurrencies

BTC/USD (Bitcoin), LTC/USD (Litecoin). ETH/USD (Ethereum), BCH/USD (Bitcoin Cash)

Account Types

8/10

    • On the trading platform IRESS, FP Markets offers three CFD account types:

    Premium Account

    The minimum opening balance is $50,000  AUD or equivalent and the minimum brokerage fee is 0.08%. IRESS platform fee of $55 is charged monthly. The fee is waived if the trader generates up to $150 in commission per month.

    Platinum Account

    The minimum opening balance is $25,000 AUD or equivalent. The platform fee charges ($55 per month) apply but waived just like the Professional Account. The minimum brokerage fee is $9.

    Standard Account

    The minimum opening balance is $1,000 AUD or equivalent. For this account type, the platform fee charges $10 AUD min, then 0.1%

    • Forex Trading Account Types

    For trading currency pairs, metals, indices and commodities on the MT4 or MT5 platforms, FP Markets has the following options:

    Standard Account

    The minimum amount required to open this account type is $100 AUD or equivalent. The spread starts from 1.0 pip. There are no commissions and the broker charges are factored into the spread.

    ECN RAW Account

    $100 AUD or equivalent is the minimum account opening amount. The spread starts from 0.0pips. The commission is charged at $3 per 100,000 lots.

Cryptocurrency

7/10

FP Markets provides its clients access to the top cryptocurrency markets by trading a cryptocurrency CFD on BTC/USD (Bitcoin), LTC/USD (Litecoin). ETH/USD (Ethereum), BCH/USD (Bitcoin Cash)

Costs

8/10

FP Markets provides tailored account and transaction cost structure to suit your individual needs. Below is a list or prices for the available trading options:

IRESSTrader/Viewpoint ($55 per month Incl. GST)

IRESSTrader and the new version ‘Viewpoint’ is a dynamic trading platform with access to full market transparency on a wide range of global markets.  IRESSTrader delivers the action live from the underlying markets. This option is suited to the active trader with alerts, charting, multi-product portfolio management. There is also live streaming news from multiple vendors and a huge range of order options with automation.

 

 Platform features:

  • Transparent Pricing
  • Compatible on Windows or Mac
  • Access to full market depth
  • Sophisticated charting
  • Live streaming news
  • Advanced order management
  • Ability to trade pre and post-market auctions
  • Highly customizable interface
  • Access to the market heat map
  • Ability to set alerts on trade execution, news and price levels

Costs:

 *Trading 15 times (with a standard min ticket fee of $10 AUD) or more per calendar month or generate more than $150 in commissions entitles the user to receive this trading platform free of charge. Charges will only apply for a calendar month if the user logs into the platform during that month.

 

*Live streaming ASX data costs $20 (plus GST) per month though will be rebated if the user trades 5 times or more per calendar month or generates $50 in commissions (in FP Markets’ ASX equity or DMA index CFD contracts).

 

 

IRESS Investor (Free)

Designed for investors this web-based solution provides all the tools to manage trades on a daily basis. Access CFDs and Forex to introduce strategies like diversification and hedging. This platform features alerts, charting, multi-product portfolio management and a full range of order options and simple contingent orders.

 

Platform features:

  • Simple and intuitive interface
  • Live streaming news
  • Fast and easy order placement
  • Ability to set alerts on news and price levels
  • Compatible on Windows or Mac
  • Access to trade pre and post-market auctions
  • Customize and save multiple watchlists

 

Costs:

*This platform is free of charge for all clients regardless of trading activity.

 

*Live streaming ASX data costs $20 (plus GST) per month though will be rebated if the user trades 5 times or more in any calendar month in our ASX CFD contracts. Alternatively, this platform offers ASX data on a refresh basis free of charge to all clients.

 

IRESS Mobile (Free)

For trading on the go, the user should download the IRESS app for iPhone or Android. It will offer them the ability to take their trading wherever they go.

 

From there, the user can manage their trading on a mobile or tablet, view their portfolio, accesses news, places orders and view charts.

 

IRESS Mobile features:

  • Live dynamic pricing
  • Access to real-time financial news
  • Track portfolio and holdings
  • Advanced order management
  • Enhanced charting
  • Compatible on iPhone, iPad and Android devices

 

 

Costs:

*This platform is free of charge for all clients regardless of trading activity.

*Data fees as outlined below may apply. In the event that you are using the data for the IRESS Mobile application along with either the IRESS Trader or IRESS Investor platform, with no extra charge

 

 

MT4 Trading Platform (Free)

 

MT4 is the world’s most popular trading platform and FP Markets’ MT4 is right at the top. Trading on MT4 allows trading an extensive range of currency pairs, metals, and Index CFDs.

 

Platform features:

  • Streaming Live Prices on Live and Demo platforms
  • Market Watch and Multiple Chart Windows
  • Numerous Order types
  • Expert Advisor and Indicator tools for trading
  • One-Click Trading
  • Multiple add-on platforms to access your trading anywhere, anytime
  • Client Terminal security communicates over a 128bit Secure Encryption
  • Alerting features

 

Fully customizable desktop, including background, font and chart colors

Multiple Language options changeable at a click of a button

 

Costs:

This trading platform is free of charge for all clients.

Customer Support

9/10

In 12 different languages, FP Markets’ well-informed suave support team serve their customers on the built-in chatting service.

In addition to chat, the company allocates two phone numbers. The number 1300 376 233 is allocated for domestic calls in Australia, while international callers can reach the team on +61 2 8252 6800

The support email address is support@fpmarkets.com. Email for Chinese clients is service@fpmarketasia.com.

Regulation

8/10

FP Markets is regulated by the Australian Securities and Investments Commission (ASIC).

Conclusion

After our check on the FP Markets forex and CFD broker, we, at AtoZ Markets can say that they, as a broker, comply with the regulations that guide the industry, with no fine or warning in their record yet.

Reviewed By

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