FP Markets Review & Rating 2023

FP Markets is a Forex and CFD Broker from Australia. This Broker is regulated by the Australian Securities and Investments Commission (ASIC).FP Markets provides 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.

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 pillar in measuring how trust-worthy FP Markets is that they keep their clients’ funds segregated in the Commonwealth Bank.

FP Markets provides tight spreads, MT4, MT5, mobile trading, and web-based global forex trading opportunities. Their trading platform 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: 

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)

FP Markets provides traders with only two types of Forex trading accounts:

1. Standard
2. Raw

FP Markets provides its clients access to the top cryptocurrency markets by trading a cryptocurrency CFD. In total the broker only offers 4 crypto CFDs to trade, namely BTC/USD (Bitcoin), LTC/USD (Litecoin). ETH/USD (Ethereum), BCH/USD (Bitcoin Cash).

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:

IRESS Trader/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.

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

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 [email protected]

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

After our research on FP Markets, we can conclude that FP Markets is a reliable broker. This is due to the ASIC and CySEC license they have obtained. Besides this they keep the client funds segregated, which means that if they would go bankrupt, the clients' funds are still safe. In terms of trading experience, FP Markets offers a decent rang of trading instruments and the popular trading platforms. Except for the crypto CFDs range, which is very limited to only 4 crypto pairs available for traders. The same goes to the trading account, you can basically open 2 types of accounts; standard or raw account.