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FP Markets Review 2024

FP Markets is an Australian forex and CFD broker who has over 15+ years of experience in this industry. Within 15+ years, they have reached a crucial point by offering its customers a variety of products and services.

In this updated FP Markets review 2024, you can witness how that FP Markets provides convenient access to forex markets such as commodities, indices, and futures. With their many awards, they seem to prove how good they are at their work.

6.2
EXPERT SCORE
Decent
I reviewed FP Markets based on the following criteria.
COMMISSIONS AND FEES
50%
TRUST
60%
TRADABLE INSTRUMENTSS
50%
PLATFORMS & TOOLS
80%
CUSTOMER SERVICE
70%
PROS
CONS

The range of the trading accounts offered by the broker is providing tight spreads starting from 0.0 pips. Collaborations with distinguished banking and non-banking financial organizations to provide liquidity options and more varieties in the market have been set in place.

With FP Markets, you can access and trade in over 10.000 CFDs on the world’s biggest exchanges. With amazing and leading platforms in the market established by MetaQuotes which are MT4 and MT5, where you can access them via phone, web, or even the app for the broker itself.

The execution of the trading processes is done with high speed and the broker has won many awards in different aspects of the market to make it recognized and known for being one of the best. With FP Markets you can stay in control with transparent pricing and commissions with whichever trading account you choose.

Customer support is given to clients in more than 25 different languages including English, Arabic, Indonesian, Italian, German, Spanish, Russian, Portuguese, Thai, French, Vietnamese, Polish, Korean, Greek, Czech, and Malay.

Also, visitors come from many different countries. Therefore, they have achieved to reach competitive power in the international arena.

Now let’s go to the main issues. The broker’s website is quite good and informative. But to make a broker preference, these are not enough. One of the most critical issues: Is FP Markets scam or a reliable broker? What are the FP Markets account types? Is FP Markets regulated? What are the FP Markets withdrawal and deposit methods? and what is FP Markets minimum deposit?

What is FP Markets Review? FP Markets review 2024 will tell you everything you need to know about the broker. In this FP Markets review, you will find detailed answers to all questions. Do not open an account before reading this review.

Let’s dive right in and see what FP Markets forex broker offers you.

FP Markets Regulations and Licences

While this is the first and foremost section to be checked throughout this FPmarkets review, no doubt that regulation carries weight in making or breaking the name of any forex broker in the market. But when it comes to FP markets regulation, allow me to assure you that I was quite certain that FP Markets is one broker to be trusted.

FP Markets is a regulated broker. The broker is regulated by ASIC(Australian Investments & Securities Commission). FP Markets is owned and operated by First Prudential Markets Pty Ltd. which is an Australian-based company also. AFS License No. 286354.

To be regulated by ASIC is a great deal in the forex market as its one of the most reputable financial jurisdictions in the market. To be regulated by ASIC means the broker is to abide by the regulator rules and have at least 1 million AUD as their capital to be able to get that regulation in order to prove financial reliability. In addition to all that, the broker must keep the client’s account segregated from the operational accounts of the broker itself to make sure they’re protected against any financial crises that might occur to the broker or in case of bankruptcy or any other setbacks.

First Prudential Markets Ltd (registration number HE 372179), is a company authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC License number 371/18).

Moreover, the broker is having the highly esteemed CySEC license which is another big name in the forex market known for its strict rules and its presence in Cyprus. And since FP markets have that regulation, that would automatically mean that there is a compensation scheme for the broker.

Many EU-based brokers are covered by the compensation scheme. The FCA protects clients’ funds up to 50,000 EUR in some conditions like the bankruptcy of the broker. There is no such advantage for ASIC-licensed brokers. However, due to the minimum net capital requirement, these brokers have certain financial strengths.

Additionally, FP Markets LLC. which is a registered company of St. Vincent and the Grenadines, Limited Liability Number 126 LLC 2019.

In my opinion, regulation is one of the most important criteria for a forex trader. If you have problems with a broker, the only thing that can protect you is the regulator.

Because regulators have heavy sanction rights on brokers. Brokers have to comply with these sanctions because they don’t want their licenses cancelled. Therefore, the best place you can apply when you experience a problem is the regulators. That’s why I never recommend trading with unregulated brokers.

FP Markets Account types, Leverage and Spreads

There are two account types offered by FPMarkets. And this section of this FP markets review, I’ll disassemble the characteristics and features of The standard and the raw accounts which are the 2 account types offered by FP markets.

The Standard account

This account can be used for trading on Both MT4 and MT5 trading platforms. The FP Markets minimum deposit allowed on this account is AUD$100 or equivalent whereas, tight spreads are offered ranging from 1.0 pips. The standard account has a maximum leverage of 1:500 with 60+ forex pairs, metals, indices, and commodities offered for trading. No commissions are added to transactions done within the standard account and the minimum allowed lot volume for trading is the micro lot. expert advisors, mobile app, ECN-pricing and VPS availability are all features that are allowed to be used within the Standard account.

The Raw account

This is the most popular account type that FP markets are offering to their clients, Where the FP Markets minimum deposit allowed here is the same as the standard account that can reach AUD$100 or equivalent. the trading instruments that are allowed to be used on the raw account are 60+ forex pairs, metals, indices and commodities, where the maximum leverage offered is 1:500. ECN-pricing, expert advisors, mobile app, and VPS are all included features of the raw account to be used. A commission is applied of $3 per side on transactions done within the raw account. Besides, the option to trade with a micro lot is the least allowed tradable volume on the raw account. The spreads offered on the raw account can reach 0.0 pips which represents even a tighter form of spreads than those seen on the standard account.

Both account types, the standard and the raw account share the following features:

  • FP Markets minimum deposit of AUD$100
  • Access to 70+ trading products including forex, indices, metals and commodities
  • The maximum offered leverage is 1:500
  • ECN-pricing
  • Expert advisors
  • Mobile app
  • VPS
  • Lighting-Fast Executions

Micro lots are available in both accounts and FP Markets provides Demo accounts for inexperienced traders. But unfortunately, the nano lot is not available. So there is no nano account type for those who want to learn in the real account without taking risks. If you want to use nano account types, check out the XM and FXTM reviews.

The options for an Islamic swap-free account are also possible with FP Markets, where you can trade the 2 account types on a swap-free basis also both available on MT4 AND MT5. These accounts in general are more suitable for Muslim clients as they line with Islamic law in that they incur no swaps or interest charges on overnight positions. Instead, the account holder is charged an administration fee on positions which is deducted from the balance of the account.

FP Markets reserves the right to request additional documentation in order to offer swap-free privileges to an account. If the religion is not mentioned on your ID document, the broker may require proof of faith in the form of a letter from your mosque confirming your religion.

The option for a demo account is also available to trade with FP Markets which allows beginner traders to try out the platform and the broker before opening a real account and starting to invest.

The leverage offered by FP Markets is 1:500 in both account types, the standard and the raw accounts. Which is considered an average rate for leverage. In all cases, high leverage brings the risk of both high profits and losses. so it’s always advised to be careful when trading with leveraged forex transactional processes.

Even though there were two types of accounts, I would expect this to offer more account types by FP Markets. Don’t think this is a disadvantage but in my opinion, FP Markets has the capacity to offer more account types considering their name and place in the market. If you are a broker that competes to attract in the international area, you should offer more.

FP Markets Trading Instruments

It’s important to have a good variety of trading tools offered for clients when you carry such a big name in the market. In this FP markets review, I’ll break down, in detail, all the offered trading instruments that can be added to the trading portfolios and provide that needed variety that traders look for.

FP Markets offers various products for trading. Forex pairs, Metals, Commodities, Indices, Equities and Cryptocurrencies are available to trade. They offer Bitcoin, Bitcoin Cash, Ethereum, Ripple and Litecoin in cryptos. And, about 60+ pairs of forex pairs are available.

Forex pairs: you can buy one currency and sell another simultaneously. The market is open 24 hours a day, 5 days a week. FP Markets is providing major, minor and exotic pairs for trading.

Share CFD: where you can carry on with your trading with FP Markets in more than 10,000 Australian and international shares alongside stock CFDs and indices across 4 continents. Including Facebook, Microsoft, Tesla and more.

Metals: can also be traded including Gold or Silver against the US Dollar or Australian Dollar as a currency pair on 500:1 leverage. There are factors affecting the prices of metals when trading and these factors include the supply and demand and interest rates, industrial outputs and economic uncertainty, and the dollar strength with precious metals as gold is traditionally viewed as a haven in times of volatility.

Bonds: are also one other part of the CFDs tradable with FP Markets. Where you can trade short, intermediate, and long-term bonds, as well as high and low bonds yield.

Commodities: they are available where you can choose from different types of them like energy, metals and agricultural products including:

  • Crude Oil
  • Gold
  • Silver
  • Platinum and Palladium
  • Base Metals: Copper, Iron, Steel, Aluminium
  • Coffee
  • Natural Gas
  • Soya Beans
  • Corn
  • Wheat

Cryptocurrencies: are allowed for trading where you can buy and sell cryptocurrency without the need for a digital wallet. Trade the most popular cryptocurrencies including Bitcoin, Ethereum, XRP (Ripple), Bitcoin Cash, and Litecoin using cryptocurrency CFDs.

The leverage ratio for Bitcoin is 10:1. I must say this is reasonable. Because bitcoin has high volatility. The high leverage ratio for such high volatility can be very risky. Therefore, many brokers offer leverage between 1:1 and 20:1 for cryptos. Note that some brokers offer higher leverage but also increase the risk.

FP Markets Trading Platforms

Various trading platforms are offered all across the forex market, yet via this section of this FP markets reviews, I’ll show you all the presented trading platforms and the features that FPmarkets is offering their clients.

MT4 which is the most widely used among forex traders, MT5 and IRESS. IRESS Trader platform is an in-house platform, specially developed for CFD trading. This is a web-based platform and you can access it via pc or mobile phone.

You can trade many CFDs on both MT4 and MT5 where forex. shares, commodities, cryptocurrencies, and indices are present on the same platform so you would access all your accounts from one platform. As some of the advantages of MT4 can be summarized as ECN Pricing, Robust Security, being one of the most popular platforms, Trader’s Toolbox, and Compatibility.

Where MT5, on the other hand, is a Fast, Flexible, and Informed updated version of MT4 as it includes an Improved strategy tester for algorithmic trading and expert advisors and Trading functions and alerts with e-mail and pushes notifications on mobile devices. Forex Signals and Copy Trading allow real-time copying of trading operations from one account to another, which are all available on MT5.

Withdrawal and Funding Methods in FP Markets

FP Markets offers a wide range of funding and withdrawal methods. Funding means seem to be multiple and various by almost every means possible. From credit cards, bank transfers, and e-wallet options, all the way to apple pay, google pay, broker-to-broker methods and more. Down below in this section of FP markets reviews I will give you more details about the most popular funding methods that can be found and used within FP Markets.

Funding MethodCurrency usedProcessing timeFunding fees
Credit and Debit cards ( Visa and MasterCards)AUD, CAD, CHF, EUR, GBP, HKD,
JPY, NZD, SGD, USD, CZK, PLN, and AED
InstantNo fees
Bank TransfersAUD, USD, EUR, GBP, SGD, and HKD1 business dayNo fees, FP Markets will cover
your International fees (up to $50) for
deposit greater than $10000.
NetellerAUD, CAD, CHF, EUR, GBP,
JPY, INR, BRL, SGD, and USD
InstantNo fees
SkrillAUD, CAD, EUR, GBP, INR, USD, and BRLInstantNo fees
SticPayJPY, EUR, GBP, USD, HKD, TWD, KRW, and SGDInstantNo fees
FasaPayUSD and IDRInstantNo fees
Perfect MoneyUSDInstantNo fees
Rapyd ( online bank transfer) BRL, MXN, COP, CLPInstantNo fees
Pagsmile BRL, CLP, COP, PEN, MXN, and USDInstantNo fees
Cryptocurrencies ( Bitcoin, Tether, Ethereum…ADA, BCH, BTC, DASH. ETH, LTC, PAX, XRP, TUSD, USDC (ERC20), USDT (ERC20), USDT (TRC20), and ZECup to 1 hourBlockchain fees applicable

Originating from FP Markets’ knowledge of the importance of efficient and fast withdrawal options and how it’s a critical matter to the investors, the multiple and various means of withdrawal provided by FP Markets are quite impressive. Credit and debit cards, bank transfers, and e-wallet options like Neteller, Skrill, Fasapay, and more, are all available to use. Withdrawal methods are having withdrawal fees applied except for bank transfers and credit and debit card withdrawals.

Withdrawal MethodCurrency usedProcessing timeFunding fees
Credit and Debit cards ( Visa and MasterCards)CAD,CHF,EUR,GBP,HKD,JPY,NZD,
SGD,USD, CZK, PLN, and AED
1 business dayNo fees
Domestic bank wire transfer AUD1 business dayNo fees
International bank wire transfer other currencies that are not AUD5 daysNo fees
NetellerAUD, CAD, CHF, EUR, GBP, JPY,
INR, BRL, SGD, and USD
1 business day1% up to $30+ country fees per $45,000 transaction
SkrillAUD, CAD, EUR, GBP, INR, USD, and BRL1 business day1% + country fees
FasaPayUSD and IDR1 business day0.50%
Perfect MoneyUSD1 business day0.5%
Cryptocurrencies ( Bitcoin, Tether, Ethereum…Cryptocurrencies1 business dayBlockchain fees applicable
SticPayJPY, EUR, GBP, USD,
HKD, TWD, KRW, and SGD
Wallet – Instant
Bank wire – 1-2 business days.
5% for bank wire, 2.5% for the wallet.
Pagsmile BRL, CLP, COP, PEN, MXN, and USD1 business day3%

Note the previously mentioned withdrawal methods are only part of the methods available and there’re more options offered locally so if you’re an international client make sure to check the most suitable method for you and the place you live in.

FP Markets makes sure to provide all the information needed by their clients in order to set the expectation for what’s due. For example, FP Markets informs about the bank charges for domestic and international transfers and how they’d be covering any fees for their clients for deposits over $10000. FP Markets charge internal fees (10 AUD) for international withdrawal only.

Most of the deposit and withdrawal means are all fast and easy, yet you need to allow 5 business days for international transfers due to funding issues that may arise due to bank or country restrictions.

FP Markets Contact and Customer Support

This is one of the most inclusive FP markets reviews that can be found with all the details I’ve already mentioned, One of the reasons to let a client trust a broker is their clear and easy contact methods and continuous support in case needed at any time. And in the case of FP Markets that’s not an issue at all. where the broker is providing all means to get in touch with them so you can choose which is easier for you and matches your preferences.

You can even enter a live chat room and have a direct live chat with a support agent right on the spot if you’re in need. Yet, if you find it preferable to have a call back later when you have time, the option for a call back is also there to be set where all you need to do is to fill a form containing your details and your message and they’ll get in touch with you by the required means whether that’s by email or by phone number.

FP Markets Educational Material

FP Markets makes sure to keep informing their clients with all the needed information for those starting in the forex world or even those with years of experience in the market.

And so, multiple educational materials with different formats and at different times even, are provided for maximum support to the investors. For example, trading courses are offered which include videos, step-by-step tutorials, and articles even to answer any question that might pop into clients’ heads. Live webinars, Podcasts, and e-books are also available for free for the clients. Let alone the educational events and seminars that are carried out by the broker at different times and places.

A great FAQ section s available to answer any query you might think of in any branch of the forex trading possible. This, in my opinion, is great for newbie traders or even the existent ones who still search and look for answers regarding terms and calculations in the forex market.

Conclusion

There are various FP markets reviews yet throughout this specific and updated FP Markets review 2024, I’ve discussed all the details regarding the broker from the regulation to the educational materials on their website.

A trusted broker with 2 major licenses in their pockets that includes Australia’s biggest ASIC and Cyprus’ most trusted CySEC. Where their ever-updated rules and strict requirements aren’t easy for every broker to maintain. Yet FP Markets has managed to maintain them. This leaves me with no doubt that FP markets regulation is one strong and firm regulation be held.

2 different account types with FP Markets minimum deposit reaching $100. The maximum leverage offered on the accounts is 1:500 with tight spreads that reach 0.0 pips. Islamic swap-free accounts are offered along with demo account options.

The best in the market trading platforms are available when trading with FP Markets and different trading instruments to offer versatile accounts to the traders. The methods of deposit and withdrawals with FP Markets are multiple to provide ease and effectiveness to the traders. Great customer support with various ways to get in touch, and educational materials to benefit both beginners and experts of forex at the same time.

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Rating: 6.2