FP Market offers traders a competitive commission-based forex cost structure, over 70 currency pairs, and it upgrades the Core MT4 trading platform with twelve plug-ins, ensuring an edge for clients. your goods.
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| Headquarters | Australia |
|---|---|
| Regulators | ASIC, CySEC, FSCA |
| Founded year | 2005 |
| Execution type | ECN/STP |
| Minimum deposit | $100 |
| Negative balance protection | Yes |
| Trading platforms | MetaTrader 4, MetaTrader 5, cTrader, Proprietary Platform, Website |
| Minimum spread | 0.0 pip |
| Standard spread | 1.0 pip |
| Minimum commission fees | 6.00$ per lot |
FP Market is an Australian multi-asset broker with a daily trading volume of over $1 billion, serving clients from over 80 countries. Established in 2005 in Australia, FP Markets has grown into a trusted brand over the past 15 years with over 100 employees. Upgraded MT4/MT5 trading platforms, through Trader tools including twelve plugins, present clients with a competitive edge. We have conducted an in-depth review of this CFD broker to provide traders with a complete overview of the trading environment at FP Markets.
FP Market offers a range of value-added services, including VPS hosting for automated trading solutions, MT4 MyFXbook service for copy trading and MT4 MAM/PAMM module for account management retail. The latest development of the in-house social trading service at FP Market has introduced it to a resurgence in demand from retail traders for this trading sub-sector. Investing in social trading represents a smart management decision and shows that a liquid broker is looking to provide the best services to its clients.
FP Markets regulation and security
- ASIC (Tier 1 Regulator)
- CYSEC (Tier 1 Regulator)
- FSCA (Good Regulation)
- St. Vincent and the Grenadines
Traders should always trade with a regulated broker but ensure that the trading environment remains competitive. Australian customers will deal with the subsidiary, regulated by the Australian Securities and Investments Commission (ASIC), First Prudential Markets Pty Ltd. FP Markets operates under the protection of the Grace Schemes Act under Section 65 of the Public Administration Performance Act 2013. Australian clients remain protected from potential damages by the disruptive compensation plan. benefits due to government failure (CDDA scheme).
First Prudential Market Ltd remains authorized by the Cyprus Securities and Exchange Commission (CYSEC), a leading foreign exchange regulator. EEA traders receive an investor compensation fund limited to €20,000 per client.
FP Markets (PTY) Ltd is currently a financial services provider authorized and regulated by the Financial Sector Conduct Authority in South Africa (FSP No. 50926), emerging as one of the most competition following non-compete regulatory changes in tier 1 jurisdictions, such as Europe and Australia.
Other global clients will deal first with Prudential Market LLC, an unregulated entity. The entity remains registered as an international business company (IBC) with the St. Vincent and the Grenadines Financial Services Authority (FSA), but brokers remain unregulated in that country. Traders should not confuse this setup, as all brokers out of St. Vincent and the Grenadines are both unregulated. Clients must rely solely on the reputation of FP Markets as no additional measures exist to ensure client protection, such as are available and implemented by other brokers.
Established in 2005, FP Market is an experienced broker with a clean track record. Therefore, traders can rest assured that their deposits, separate from the company's funds, are safe. The NDD execution model allows for conflict-free trade execution, and external financial audits exist, but FP Markets does not provide details on the auditor. Overall, FP Markets is a transparent and trustworthy broker, one of the best in Australia and highly competitive globally.
Trading fees
| Average transaction costs EUR/USD | 1.1 pips |
|---|---|
| Average transaction costs GBP/USD | 1.4 pips |
| Minimum spread | 0.0 pips |
| Standard spread | 1.0 pips |
| Minimum commission fees | 6.00$ per lot |
| Deposit fees | None |
| Withdrawal fees | None |
| Inactivity fees | None |
Trading fees have the most notable direct impact on any strategy, and FP Markets offers two pricing models. The commission-free standard account shows an average score of 1.15 for EUR/USD. It equals $11.50 for 1.0 standard lot.
FP Markets offers a very competitive commission-based alternative with raw spreads of 0.0 pips at $6 per lot. Commodities, indices and cryptocurrencies still have no additional costs, which are still included in the markup. Equity CFD and DMA traders face a fee ranging from 0.06% to 0.30% with a minimum of $10 or a currency equivalent. Equity trading fees depend on the country of the underlying listed asset, and the pricing environment remains average compared to other brokers.
Another thing traders must consider is the swap rate on leveraged overnight positions. One of the benefits of forex trading is leverage, which means borrowing money from the broker to manage more significant trading positions. It incurs a financing cost, known as the swap rate, and the longer a trade remains open, the higher the fee. Third-party withdrawal fees may apply, but there are no inactivity fees at FP Markets.
Traders who buy EUR/USD with no leverage, 0.0 spread and hold it overnight will pay $4.48 per day for 1.0 standard lots, but traders who sell EUR/ USD will receive $0.22. Leverage will reduce costs a bit, as the swap rate only applies to the amount borrowed, in this example, 100%. Using a 1:500 leveraged trade reduces the loan amount by 99.8%, improves the long swap by $0.01 to $4.47, and results in no change for the short swap. Swap rates are applied with a T+2 formula to account for weekends, which means that every Wednesday, most forex positions are subject to a triple charge. Some exceptions exist depending on the currency pair and T+1 applies.
Taking a 1.0 standard lot position in EUR/USD with 1:500 leverage and holding it overnight will cost the following:
$6.00 commission + $4.47 Swap rate = $10.47
Holding the same transaction for seven nights accumulates the following costs:
$6.00 Commission + $31.29 Swap Rate (7 x $4.47) = $37.29
The $6.00 commission for forex traders on 1.0 standard lots remains one of the best in the industry.
What assets does FP Markets offer?
- More than 70 currency pairs
- 11 cryptocurrency pairs available
- 22 commodities and metals
- 24 CFDS index
- 159 equity CFDs
- More than 290 ETFs
- 2 bonds
Leverage
The maximum leverage offered through FP Markets and Grenadines subsidiaries is 1:500 for forex traders. Negative parity protection exists, creating ideal conditions for scalpers and traders looking for high leverage trading accounts. Cyprus and Australian regulators limit retail leverage to a maximum of 1:30.
Account types
Traders can choose a commission-free standard account or a commission-based RAW account. We highly recommend Forex traders to opt for the RAW account, as trading costs remain significantly lower, while the minimum deposit is $100 with a maximum leverage of 1:500 for non-EU traders. All other trading conditions remain identical.
Below is an example of the difference in trading costs for a standard 1.0 lot long position in EUR/USD, held over seven nights with 1:500 leverage and a minimum free spread of 1 .0 pips and .0 pips alternative in commission based account.
Standard account: $10 (1.0 pips spread) + $31.29 (seven night swap rate) = $41.29
Raw account: $6 (commission) + $31.29 (seven-night swap rate) = $37.29
The $4.00 per trade difference adds up over time and trading volume, allowing traders to save hundreds and even thousands in fees each month.
FP Market offers traders two MT4/MT5 account options.
Trading platforms
FP Market offers all traders the MT4/MT5 and CTRADER trading platforms and select clients may qualify for the IRESS trading platform, limited by geographical location. MT4/MT5 and Ctrader are available as desktop clients, webraders and mobile apps. The out-of-the-box MT4/MT5 versions are still substandard, but FP Market offers twelve plug-ins with its trading tools package, plus the central services of Autochartist Plug-in and Trading Central. It provides a competitive advantage to traders at FP Marktes from a trading platform perspective.
FP Marktes also maintains a MAM/PAMM module, allowing retail account management. Integrated copy trading functionality is available on MT4/MT5 and CTRADER, all of which support algorithmic trading. MT4 is the market leader for automated trading solutions, while many consider MT5 a failed successor amid lack of backward compatibility.
Trading features
Besides the integrated MT4 copy trading functionality, FP Market partners with MyFXBook Autotrade, which is also available from within the MT4 trading platform. The most recent expansion includes an exclusive copy trading service, FP Mark copy trading. VPS hosting is available, but minimum requirements exist to get free. On the other hand, the IRESS trading platform remains geographically restricted and incurs non-trading-related fees unless traders fulfill monthly trading volume requirements, increasing the pressure for transactions. Unfortunately, 10,000 equity CFDs are only available on IRESS.
Research and education
FP Markets Traders Hub provides daily research and trading ideas, presented in a quality format. The streaming service is available as one of twelve plug-ins for MT4, providing traders with a valuable service embedded with the trading platform. New traders can benefit from educational resources, including webinars and videos. FP Markets also offers an academy for traders, offering trading courses, live webinars, podcasts, trading tutorials, etc. Overall, the research & education at FP Markets is of high quality. high quality and add value to the core trading environment.
Customer support
From a customer support perspective, FP Markets delivers across the board. Multilingual customer support available in 34 languages, 24/7. Customers can contact via e-mail, live chat, phone or call back option. The quality FAQ section answers many questions, and most traders can only request additional support in an emergency.
Opening an account
The online account opening process remains simple, but FP Markets collects more data than some other brokers. It offers traders to complete the first step through a Google or Facebook account. The app gives access to a clean back office from where traders can manage all their trading accounts and financial transactions. Account verification is still required but is a quick process at FP Markets. Most traders will satisfy AML/KYC requirements by submitting a copy of their ID along with a proof of residence document.
Deposits and Withdrawals
FP Markets maintains 30 funding methods. These include bank wires, credit/debit cards, online payment processors, and cryptocurrencies. Clients can access all available options from their Back office, where FP Markets transparently lists all payment processors. Availability depends on country of residence and not all traders may have access to all payment processors.
The withdrawal process remains quick and hassle-free, earning FP Markets a top rating in this category. Back Office makes it easy to request a withdrawal, which takes seconds. There are no internal withdrawal costs at FP Markets, but third-party fees may apply, depending on the method chosen. Processing times also depend on the method chosen and FP Markets notes one business day for internal processing times. According to AML guidelines, the names on the trading account and payment processor must be identical.
Conclusion
FP Market is a reliable and trustworthy broker, best suited for pure forex traders who seek a competitive commission-based trading environment from an MT4 trading platform be upgraded. The withdrawal options and process are still great.
