FP Markets Company DetailsTrading Platform ReviewsMarketsSpreads & CommissionsLeverageMobile AppsPayment MethodsDemo AccountBonuses & PromosRegulationAdditional FeaturesAccount TypesBenefitsDrawbacksTrading HoursCustomer SupportTrader SecurityFP Markets VerdictAccepted CountriesAlternatives to FP MarketsFAQ
FP Markets is an international forex broker offering the MT4, MT5 and Iress trading platforms, along with raw spreads and high leverage. This review covers everything from fees and minimum deposits to account registration and live chat support. Find out whether you should start trading with FP Markets.
FP Markets Company Details
FP Markets is an Australian broker founded in 2005 and regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).
The broker is headquartered in Sydney with an additional entity registered in Saint Vincent and the Grenadines. Its clients span the globe, from India and Malaysia to Europe and the UK.
The award-winning broker offers over 13,000 products, including forex, share CFDs, indices, commodities, and cryptocurrencies. Clients of all levels can choose between ECN or DMA pricing with a range of tools at their disposal.
Trading Platform Reviews
MetaTrader 4
The MetaTrader 4 (MT4) platform is one of the most powerful platforms and a top choice among traders of any level. FP Markets has partnered with some of the leading forex liquidity providers to ensure fast execution and reliability. Enjoy automated trading and advanced analysis features, including:
50+ pre-installed indicators for technical analysis
9 time-frames, 3 charts, and 24 graphical objects
Access to Expert Advisors (EAs)
4 pending stop order types
Real-time pricing
One-click trading
Market Watch
FP Markets MT4 trading platform
MT4 is compatible with Windows 7 or higher PCs and Mac OSX and can be downloaded from the broker’s website upon registration.
MetaTrader 5
For the ultimate professional experience, the MT4 successor offers superior features, charting capabilities, signals, plus automated and copy trading functions. Traders also enjoy an improved strategy tester for greater precision with trading robots. Advanced features include:
80+ technical indicators for technical analysis
21 time-frames and 44 graphical objects
Exchange trading and scalping allowed
Up to 100 charts open simultaneously
6 pending stop order types
Thousands of stock CFDs
Advanced Market Depth
Economic calendar
MT5 is also compatible with Windows and Mac PCs and can be downloaded from the broker’s website.
MetaTrader WebTrader
Trade from anywhere with an internet connection with the flexible WebTrader, offering the same functionality and execution capabilities as the desktop platform. Without zero installation required, WebTrader allows for one-click trading, real-time price quotes, the complete suite of tools, plus data synchronisation across all platforms.
You can access the WebTrader straight from the broker’s website, using any major internet browser.
IRESS
FP Markets also offers three additional trading platforms: IRESS Viewpoint, IRESS Trader, and IRESS Investor. The IRESS suite is a top-rated DMA (Direct Market Access) execution system. Though the platforms are similar, IRESS Viewpoint is the updated version of IRESS Trader while IRESS Investor is designed for investors who wish to use hedging strategies.
All three platforms are packed with technical indicators, including trend, momentum and volatility indicators such as Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI) and Bollinger Bands.
Features across all three systems include:
50+ technical indicators and 50+ charting tools
Market Depth and real-time quotes
Trade pre and post market auctions
Advanced order management
Access to market heat map
Live streaming news
Customisable alerts
FP Markets IRESS trading platform
IRESS is compatible with Windows and Mac PCs and is accessible upon account registration.
Markets
There are six main markets available at FP Markets:
Forex – Over 60 currency pairs are available, including majors, minors and exotics
Cryptocurrencies – Trade on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple
Share CFDs – Access over 10,000 shares across four continents
Indices – Access 12 global indices, including the FTSE 100 and NASDAQ
Commodities – Trade on commodity CFDs, including Brent Crude Oil
Precious metals – Trade on gold and silver in spot markets
The broker has also introduced a detailed share CFD directory with a dedicated page for each of the stock CFDs offered. This useful resource contains information on the company profile, share price, relevant news and more, informing trading decisions.
Spreads & Commissions
Spreads on major pairs such as the EUR/USD start from 0 pips, averaging around 0.09 with the Raw account and about 1.19 with the Standard account. Indices are equally competitive, starting at 0.31 for the FTSE 100 on both accounts.
For precious metals, spreads average 0.13 pips with the Raw account for gold and around 0.01 for silver. These are competitive when compared to the likes of Pepperstone and IG.
Fees are built into the spread with the Standard MetaTrader account, however commission rates with the IRESS accounts are more complex. A full breakdown can be found on the brokerage’s website.
Other fees to be aware of include a $55 per month subscription fee for IRESS Trader/Viewpoint, as well as swap rates on overnight positions. A useful swap rate calculator is available on the website.
Leverage
At FP Markets, you can leverage trades up to 1:500 across both the Standard and Raw accounts. A margin calculator can be found on the broker’s website, as well as a useful margin table for global exchanges including the ASX and LSE.
Details of the margin call process are also available on the broker’s website.
Mobile Apps
FP Markets App
The broker rolled out its own mobile trading app in 2021. The app, available from the App Store and Google Play, offers desktop integration and a portfolio of useful analysis and trading tools. Users can make fast in-app deposits and withdrawals, create a Favourites last for faster trading, and also benefit from leading liquidity providers. For clients wanting to effortlessly move from desktop and mobile, the broker’s app will tick all the boxes.
FP Markets mobile trading app
MetaTrader App
The MetaTrader platform is available as a mobile app, downloadable onto iOS and Android smart devices. The app receive positive customer reviews. MetaTrader for mobile offers a user-friendly interface with interactive charting tools, featuring easy scrolling and zooming functions, push notifications, and one-touch trade execution. Traders can also view their full trading history and manage their account in offline mode.
Payment Methods
Deposits
Depositing funds is fast and easy with FP Markets, who offer over 10 flexible funding options with zero fees. Available methods include credit and debit cards, bank transfer (Domestic and International), BPay, Poli, PayPal, Neteller, Skrill, PayTrust, Ngan Luong, FasaPay, Online Pay, and Broker to Broker.
FP Markets does not charge any deposit fees and will cover internal bank fees (less than $50) for international deposits over $10,000.
Deposit times are generally instant for those using the MetaTrader platforms, except for bank transfers, BPay, and broker to broker transfers, which take up to 1 business day. All methods take up to 1 business day if using the Iress platform.
Withdrawals
You can withdraw funds from the client area via the same methods, with fast withdrawal times of up to 1 business day.
There is no minimum withdrawal but there are fees to consider when collecting revenue, including A$10 for international bank wire, $18 for Online Pay, 1,000 VND + 1% for Ngan Luong, and A$25 for international broker to broker transfers. Neteller charges 2%, Skrill 1%, FasaPay 0.5%, PayTrust 1.5% and Paypal 2% (if using IRESS). Card payments and Australian bank wire transfers are free.
Details of the withdrawal policy are available from the Trading Info area.
Demo Account
Traders can choose to register for a demo account in either the MetaTrader 4 or Iress platforms for 30 days. A demo account is a perfect training tool for those looking to test out the environment before committing real money to a live account. It’s also possible to open demo accounts in both MT4 and Iress simultaneously.
You can get set up and receive your demo login details in seconds, using the online registration form.
Bonuses & Promos
FP Markets is a fully regulated broker and therefore does not offer any deposit bonuses or promotions.
Regulation
FP Markets Pty Ltd is fully regulated by the Australian Securities and Investments Commission (ASIC) operating under Australian Financial Services License (AFSL) number 286354. The broker is also regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 371/18. Both the ASIC and CySEC are highly reputable along with the UK Financial Conduct Authority (FCA).
As per regulatory requirements, FP Markets is audited by an external independent auditor, BDO Australia. Client funds are also segregated and held with AAA rated banks such as National Australia Bank or Commonwealth Bank of Australia.
Note, however, FP Markets does not offer negative balance protection under the Australian entity.
Additional Features
FP Markets offers a range of educational resources and trading tools suited to all levels, including:
E-books on the basics of fundamental and technical analysis
Virtual Private Server (VPS) for MT4/MT5
Video tutorials for trading platform setups
Live trader dashboard with price analysis
Traders hub with articles and blogs
Myfxbook copy trading platform
Autochartist MetaTrader plugin
800+ Share CFD Directory
Trader’s toolbox for MT4
Economic calendar
Forex calculator
FP Markets Social Trading
The broker has released a bespoke social copy trading solution. Clients can automatically mirror the positions and strategies of established investors. Available on iOS and Android devices, clients can use the broker’s ranking table to find a Provider with a solid trading history and whose strategies and risk parameters match up. A great way to test new markets or to learn from leading traders, this latest feature from FP Markets has a lot to offer.
Account Types
You can choose between a Standard or Raw account in the MetaTrader platforms. Alternatively, you can open a Standard, Platinum, or Premier account in the Iress platforms.
The Standard and Raw accounts are better suited to beginner traders, with only a A$100 minimum deposit (or currency equivalent), which is reasonably low if compared to IC Markets, for example. The maximum leverage is 1:500 and the Standard account is commission-free, whilst the Raw account charges $3.
The IRESS accounts are designed for more professional traders, with minimum deposits between A$1,000 and A$50,000. Commission per lot is A$10 minimum plus 0.1% for the Standard account, A$9 minimum plus 0.09% for the Platinum account, and no minimum plus 0.08% for the Premier account. Equity CFD margin requirements start from 3% across all three accounts.
Islamic swap-free options are also available, as well as PAMM/MAM trading accounts.
Benefits
There are numerous benefits of opening an account with FP Markets:
ASIC & CySEC regulated with 15 years+ in the business
Comprehensive Share CFD Directory
Wide range of educational resources
Excellent customer reviews
Myfxbook and Autochartist
DMA trading available
10,000+ instruments
Copy trading
Raw spreads
Drawbacks
Drawbacks of FP Markets include:
No ETFs
No welcome bonuses
US clients not accepted
Trading Hours
For FX currency pairs, trading is available 24 hours a day with a two-minute break between 23:59 and 00:01 GMT. The trading week runs from Monday at 00:02 to Friday at 23:57 GMT.
For metals and cryptocurrencies, opening hours are 01:00 – 23:59 GMT daily and 01:00 – 23:57 GMT on Fridays.
Opening hours for equities/stocks are 10:00 – 18:30 GMT for European and UK stocks, and 16:30 – 23:00 GMT for US stocks.
All other assets vary and can be found on the Trading Hours page on the website.
Customer Support
You can contact FP Markets from Monday – Saturday (AEDT) at 07:00 – 07:00 and Sunday – Friday (GMT) at 22:00 – 22:00. Help is available via:
Email – support@fpmarkets.com
Contact number – +61 (0)2 8252 6800 or 1300 376 233 (toll free)
Live chat – available in 12 languages from the bottom right-hand corner of the page
User reviews show the support team are reliable and helpful. They can advise on APIs, as well as how to close an account or leave a bad review. Note they cannot give tax advice.
FP Markets Pty Ltd is headquartered at Level 5, Exchange House 10 Bridge St Sydney NSW 2000, Australia.
Trader Security
The MetaTrader platforms are protected with 128-bit Secure Sockets Layer (SSL) encryption, as well as the option to enable two-factor authentication (2FA) at login. All funding and payment options are also secure and comply with industry regulations.
FP Markets Verdict
FP Markets offers an excellent trading environment with raw spreads and a choice of ECN or DMA accounts. The MetaTrader and Iress platforms are suited to both beginners and experts, while there’s a substantial choice of forex, equity CFDs, futures, and cryptocurrencies. The quality of customer service, fast sign-up process, and user-friendly client portal are particularly favourable, making FP Markets a good choice for all levels.
Accepted Countries
FP Markets accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use FP Markets from United States, Japan, New Zealand, Belgium.
Alternatives to FP Markets
If you are looking for alternatives to FP Markets we have compiled a list of the top 5 brokers that are similar to FP Markets below. This list of brokers like FP Markets is in order of similarity and only includes companies that accept traders from your location.
RoboForex – RoboForex is a multi-asset online broker offering powerful trading aides.
Infinox – Infinox is a UK-based broker offering MT4 trading with tight spreads.
Avatrade – Leading forex and CFD broker regulated in Ireland, Australia, Canada and South Africa. Avatrade are particularly strong in integration, including MT4
OctaFX – OctaFX offers multi-asset trading on a range of platforms and mobile solutions.
GO Markets – GO Markets is an ASIC-regulated FX & CFD broker.
FAQ
What products does FP Markets offer?
FP Markets offers thousands of tradable products within several markets, including forex, indices, share CFDs, metals, commodities, and cryptocurrencies.
What is the margin call/stop out level at FP Markets?
FP Markets will contact clients if their margin level falls to 100%. Stop out is at 50% margin level, where trades will be automatically closed starting from those with the largest loss.
How can I make a deposit or withdrawal at FP Markets?
You can fund your account or withdraw money from within the client area, once you have registered for an account.
How can I close my FP Markets account?
To close your trading account, email cash@fpmarkets.com. You can also request a full withdrawal of funds.
Does FP Markets offer a demo account?
Yes, you can register for a demo account on both the MetaTrader or Iress platforms.