For the Raw Spread account, the broker does charge a commission per position as well as a spread difference which varies depending on the asset being traded. They don’t charge any fees on inactivity, deposits, or withdrawals. FP markets have several different platforms to offer including MT4, MT5, Webtrader, mobile app, and the Iress platform. You have the option to automate your trades and the Autochartist tool will help you with ideas like no other platform you have ever seen. If you are an already experienced trader and want to get to the next level with new tools you have never seen before, then this might the right broker for you.
- FP Markets is an industry leading CFD broker that was founded in 2005 in Australia.
- The FP Markets MT4 Trader Toolbox is a suite of 12 online trading tools that proves robust trading infrastructure and valuable market insights to enhance the trading experience.
- FP Markets gives options to its clients in choosing what platform to use.
- It is quite rare to find an exchange listed broker, XTB being one of them.
- Also, each instrument defines its trading conditions, proposing flexible leverage throughout one account, and require specified margins that you may always check through FP markets platform.
Money managers can take advantage of FP Markets Electronic Communications Network (ECN) and deep liquidity for tight spreads and fast execution speeds at the required volumes. Whatever your level of trading experience, novice or professional, there is a set of tools that can be used to assist with your trading. This includes copy trading, Autochartist, an economic calendar, https://forex-reviews.org/finexo/ alerts, trade terminal and more advanced trade assistance apps. You can sign up for free to the MQL5 community to access many other indicators and follow other traders. It is also a great place to ask any questions, request tools and learn more about the platforms. Determining the legitimacy of a forex broker (and avoiding forex scams) can be a real challenge.
Great Service Again.
It offers more than ten flexible funding options in 10 different base currencies. These payment methods vary in what type of account (either MT4, MT5, or IRESS) you’ll be placing your funds in. Also, the processing time of the deposit varies on the type of your account and the payment method you choose to use. FP Markets is a regulated broker with plenty of experience to make sure you get a top-class trading experience. They have a great range of products for you to trade with low costs including forex, stocks and cryptos.
Headquartered in Sydney, Australia, FP Markets (First Prudential Markets) was founded in 2005 as an online retail forex and CFD broker. The brand’s entities are regulated in Australia and Europe, with a total of 95 employees as of 2019. FP Markets offer many different ways to contact their representatives, and customer service is open 24/7. All three IRESS account types outlined earlier include ViewPoint Essential.
Advantages and disadvantages of FP Markets
Traditional payment options like debit/credit card and wire transfer and modern payment options like e-wallets and cryptocurrency payments come in handy. This is not the lowest you will find considering brokers such as Fusion Markets let you deposit anything from $1. FP Markets offers assistance through the many choices a trader can have when trading with this company.
FP Markets’ education section is pretty good compared to most other large international brokers. The content available is suited to both beginner and more experienced traders. FP Markets offers a demo account that comes loaded with 100,000 in virtual funds of your chosen base currency. The FP Markets’ demo accounts won’t expire unless they remain inactive for over 30 days. FP Markets offers an excellent copy trading service through third-party provider, Myfxbook Autotrade, available on MT4.
Standard Account – (MT4 – MT
It also includes other commodities such as energy and agricultural products. In our opinion, this is very useful for beginners who are still unable to open good positions on their own. Through this platform, you can choose a trader you want to copy and the robot will automatically copy all their trades. Social Trading is a platform that allows you to follow other traders on FP.
This process helps remove the need for you to filter through poor performing providers. The IRESS trading platform is for clients with the Australian arm of FP Markets only. This platform is best if you are intending to trade stocks (however a limited number of CFDs are available. As with most trading platforms, FP Markets give you a choice between the MetaTrader 4 (MT4), MetaTrader 5 (MT5). But unlike most, you can also use the special IRESS platform if you’re in Australia. There are no hidden charges here — that means no withdrawal fees.
FP Markets Sponsorships
These partners of FP Markets ensure the highest levels of interbank liquidity for its clients. Also, the financial accounts are audited by external audit firms to ensure constant compliance with regulations across the operations of the company. The security of money and investment is the main concern of any trader. FP Markets claims to be a global award-winning regulated broker that traders can trust. The company complies with the most stringent regulations for investor protection, which are laid out by its regulator – ASIC. FP Markets commits to adhere to strict capital payout obligations and has a risk management program to ensure its clients’ safety.
Per AML guidelines, the name on the trading account and payment processor must be identical. They include bank wires, credit/debit cards, online payment processors, and cryptocurrencies. Clients may access all available options from their back office, where FP Markets lists all payment processors transparently. The availability depends on the country of residence, and not all traders may have access to all payment processors. Here is a screenshot of a live FP Markets MT4 trading account during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. Trading fees have the most notable direct impact on any strategy, and FP Markets offers two pricing models.
Is FP markets a regulated broker?
The company’s support and service operate 24 hours a day and seven days a week. You can reach their support through phone, email, and live chat. The support agents of the firm are very professional, helpful, and responsive. Lastly, the Premier IRESS Account requires a $50,000 AUD or equivalent minimum deposit. The brokerage fee is 0.08% of the trade size, with no minimum flat fee.