FP Markets Review 2022

FP Markets review
FP Markets Awards

FP Markets have won numerious industry awards over the 17 years they have been operating as a financial broker. We have listed the most notable awards and mentions for FP Markets below.

• Canstar Cannex 5 Stars Outstanding Value CFD Provider
• Smart Investor Recommended CFD Broker
• The Bull Winner Best Warrants Broker Finalist Best Online Broker
• Money Magazine Cheapest Non-Advisory Phone Broker
• Help Now! Challenge Best Customer Service May 2019
• Help Now! Challenge Best Customer Service June 2019
• Help Now! Challenge Best Customer Service July 2019
• Help Now! Challenge Best Customer Service August 2019
• Investment Trends Report 6x Winner #1 Most Satisfied Traders
• Investment Trends Report 4x Winner #1 Best Trade Execution
• Investment Trends Report 2x Winner #1 Best Education Material
• Investment Trends Report 1x Winner #1 Best Customer Service
• Global Forex Awards Best Global Value Broker 2019

FP Markets Sponsorship

FP Markets is a sponsor of events and sports. Sponsoring helps FP Markets give back to the community and build brand awareness.

FP Markets sponsor ASM Academy which is a golf academy that benefits and nurtures young golfers. Learn more by clicking the link.

FP Markets review
FP Markets Fees Explained

• FP Markets doesn't charge withdrawal fees.
• FP Markets does not charge a fee for inactive accounts.
• FP Markets does charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company. Brokers may charge clients various trading fees that you need to be aware of as they may affect your bottom line.

How FP Markets Fees Compare Against Other Brokers

FP Markets Minimum Deposit

FP Markets require a minimum deposit of 100 GBP/USD/EUR when opening an FP Markets trading account.

A minimum deposit is the minimum amount of money required by FP Markets to open a new online brokerage account with them.

Don't be scared off by brokers like FP Markets charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on their platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make returns some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

FP Markets Withdrawal Fees

FP Markets doesn't charge withdrawal fees.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees, processing times and a potential currency conversion fee. The Conversion fee is dependant on your base currency, your receiving currency and your payment provider.

For example FP Markets allows you to withdraw your funds to Credit cards, VISA, MasterCard, Debit cards, Bank Transfer, Electronic wallets (eWallets), Neteller, BPAY, POLi, PayPal, Neteller, Skrill, PayTrust, NganLuong VN, Fasapay, Broker to Broker, OnlinePay China, Directa24, Klarna, PayTrust88, Payoneer.

FP Markets Inactivity Fees

FP Markets does not charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts and clients may have to fulfill.

If a clients trading account does not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

FP Markets Deposit Fees

FP Markets does charge deposit fees.

You must always review deposit fees as some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee.

The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

FP Markets Commission Fees

FP Markets does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

FP Markets review
Trading on FP Markets web platforms and other applications

FP Markets offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

A FP Markets iOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device.

FP Markets also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.

See FP Markets's platforms

Is the FP Markets Trading Platform Secure?

FP Markets safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. FP Markets also urges its clients through its web platform to always look for the SSL security sign (a lock sign) on the browser while operating FP Markets.

FP Markets Trading Platform Options

Once you have logged into your FP Markets account you will see the below trading platform options available to you.

• MetaTrader 4 (MT4)

FP Markets does not offer the MetaTrader 5 (MT5) trading platform. If you are looking for a online platform that does support MT5 click here

FP Markets does not offer the cTrader trading platform. You can find a broker that supports cTrader here

Lets explore each of these trading platforms in detail and what options FP Markets gives you.

FP Markets review
FP Markets MetaTrader 4 (MT4)

MetaTrader 4, also known as MT4, is one of the most popular trading platforms available and has been in active use on financial markets since 2005. The MetaTrader 4 software delivers a feature-rich, user-friendly interface, and an extremely customisable trading environment, designed to fulfill all of your trading needs and boost your trading performance. Charting functionality and advanced order management tools.

Understand that the MetaTrader 4 (MT4) trading platform was developed primarily to trade Forex, but you can also trade other types of financial instruments through CFDs and Spread Betting. You will not be able to trade Stocks, Indices, Commodities, ETFs, Futures on any MetaTrader 4 (MT4) platform unless they are CFD contracts or Spread bets. You will not own any underlying assets with CFDs or Spread bets as you are speculating on price movements with FP Markets. You can learn more about the MT4 Platform here.

You can start using the MetaTrader 4 platform with FP Markets in multiple formats including through an online web platform, Through a downloadable application for Windows PC's and Apple Macintosh computers. FP Markets MetaTrader 4 is compatible with the latest macOS Mojave. FP Markets allows traders to trade on mobile devices through Android and iOS devices like the iPhone.

Metatrader 4 Webtrader on FP Markets

MetaTrader 4 is the most popular trading platform in the world as most and more traders begin to trade online Metatrader 4 is available as a web based application available through your web browser. MetaTrader 4 web software provides the same easy to use performance as the desktop version using advanced charting, a highly customisable trading environment, easy to access online trading tools and many different indicators. You can enjoy our Raw Pricing trading environment without a Dealing Desk from anywhere in the world.

Trade FP Markets MetaTrader 4 on iOS Devices

You can download the FP Markets app or also trade with FP Markets through the MetaTrader 4 application on the Apple app store.

Download the Metaquotes MetaTrader 4 Program for free of charge from Apple's App Store. FP Markets customers have instant access to this Financial markets, with the ability to completely manage a Portfolio on the go.

Trade FP Markets MetaTrader 4 on Android Devices

Andorid mobile devices and tablets are used by millions of people globally. FP Markets provides its clients access to the MetaTrader 4 platform on Android supported devices so that customers can monitor the financial marketplace and trade directly from their Android-based Smartphones and tablets. The Android FP Markets MetaTrader 4 Android application enable traders to make the most of multiple advanced trading features which enables them to monitor and trade Forex quickly on the go, simply and securely.

Trade FP Markets MetaTrader 4 Trading Central

Trading Centrals Alpha Generation Indicators is a Bundle of three Major indicators including:

• Analyst Perspectives - A go-to resource for leadership and key levels.
• Adaptive Candlesticks - Identifies chart patterns which illustrate important changes in demand and supply.
• Adaptive Divergence Convergence (ADC) - Much like MACD however useful at shorter lengths and provides more timely signs.

FP Markets MetaTrader 4 Advanced Trading Tools

The FP Markets advanced trading tools for MetaTrader 4 are aimed at improving the total trading experience and providing traders with a competitive advantage. FP Markets offers access to 20 exclusive tools which includes feature rich trade execution & management programs, sophisticated notification alarms, messaging facilities, innovative market data & more.

Trade FP Markets MetaTrader 4 MultiTerminal

MetaTrader 4 MultiTerminal provides a intuitive easy to use dashboard where traders can administer and supervise several trading accounts. MultiTerminal will let you manage over 100 Accounts simultaneously allowing you to place market orders, pending orders, view live market prices and track all accounts and equity at real time. All Trading accounts must be in on the same MetaTrader server. MultiTerminal doesn't support Automated Trading scripts like Expert Advisors.

FP Markets MetaTrader 4 AutoChartist

FP Markets Autochartist provides the world's first Market Scanner available for MT4 using a non-trading Expert Advisor script. Scan markets for trading opportunities while viewing all symbols and time intervals from a single graph. Gone are the days of launching a lot of graphs on which you can't remember which currency you're taking a look at. Autochartist offers a simple user interface that can be customized to suite how you like to trade.

FP Markets Trading benefits

• Allows scalping
• Allows hedging
• Offers STP
• Low min deposit
• Offers Negative Balance Protection

FP Markets Trading Accounts Offered

Below we give an overview on the account types that FP Markets offer. Whatever you are looking to trade the varying FP Markets account types will be able to provide you with what you need.

• Demo account
• Mini account
• Standard account
• Zero spread account
• ECN account
• STP account
• Managed account
• Islamic account

Can I try FP Markets?

FP Markets offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Losses can exceed deposits

FP Markets withdrawal and funding methods

Please note that the list of FP Markets payment methods below depend on the FP Markets Entity and the Clients Country of Residence.

All available FP Markets payment methods available to you can be found in your FP Markets members area checked on the FP Markets website.

FP Markets offer the below funding payment methods. You can use any of the below deposit options if available in your region. learn more about FP Markets

FP Markets Payment Methods

• FP Markets accepts Credit cards
• FP Markets accepts VISA
• FP Markets accepts MasterCard
• FP Markets accepts Debit cards
• FP Markets accepts Bank Transfer
• FP Markets accepts Electronic wallets (eWallets)
• FP Markets accepts Neteller
• FP Markets accepts BPAY
• FP Markets accepts POLi
• FP Markets accepts PayPal
• FP Markets accepts Neteller
• FP Markets accepts Skrill
• FP Markets accepts PayTrust
• FP Markets accepts NganLuong VN
• FP Markets accepts Fasapay
• FP Markets accepts Broker to Broker
• FP Markets accepts OnlinePay China
• FP Markets accepts Directa24
• FP Markets accepts Klarna
• FP Markets accepts PayTrust88
• FP Markets accepts Payoneer

How can I start trading with FP Markets?

When opening a trading account with FP Markets, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on FP Markets trading platforms here. You will need to provide some basic documentation to prove your identity as part of FP Markets onboarding and normal KYC identity checks. These checks are standard practice and help FP Markets provide a safe financial environment for their 10,000 users.

Losses can exceed deposits

Performing trades with FP Markets

FP Markets allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. FP Markets allow you to execute a maxium trade of 50 Lot. As FP Markets offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the instruments.

FP Markets also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders, negative balance protection, price alerts, and much more. You can see all of the account features offered by FP Markets here.

CFD Trading on FP Markets

let's take a look at some of the basics of using FP Markets leverage.

FP Markets offer CFD which are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

FP Markets leverage magnifies both profits and losses when trading.

Let's say for example you buy/sell ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the FP Markets trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The FP Markets leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

FP Markets CFDs are typically used for short to medium term trades. For example FP Markets intraday CFD trading. Although high risk because CFD trades are separate from the financial markets, a CFD trade can be more flexible than a traditional market trade where you own the underlying asset. CFD trades give access to CFD fractional shares, CFD international markets and CFD short selling. More advanced traders can also use CFDs to hedge.

Always be aware that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Losses can exceed deposits

Limiting Your Risk When Trading with FP Markets Negative Balance Protection

We should say something about negative balance protection with FP Markets. When trading using leverage an adverse move could result in losing more than your trading account balance at FP Markets. If your broker is regulated by the FCA Negative Balance Protection should be set in place by your broker as standard. Your FP Markets account could potentially become negative. We recommend you making use of negative balance protection. Using negative balance protection ensures your losses will always be limited to the current balance of the money in your account.

Limit Risk When Trading with FP Markets Stop Loss, FP Markets Stop Limit Orders

A stop-loss order is an order placed with a broker like FP Markets to buy/sell once the stock reaches a certain price. A stop-loss is designed to limit a traders loss on a security position.

Most traders need to use stop losses to protect themselves from huge risk unless the trade is hedged against another trade or the trader is not using leverage. Circumstances differ depending on the trade and the markets.

Education Resources at FP Markets

To trade effectively with FP Markets, it's important to get a have a good understanding of the FP Markets trading tools and the markets. Make sure you make full use of all education tools. This includes eduction tools with FP Markets and externally.

FP Markets offer a good selection of educational resources. Take your time, learn how the financial markets move. Take the time to learn how your trading platform works. Make buy/sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk.

Having an analytical approach may be a good way to approach trading with FP Markets.

Take time to look around the FP Markets platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at FP Markets

As part of our FP Markets review we review customer service options, response times and FP Markets trading platform problem resolution effectiveness.FP Markets support a wide range of languages including English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish,Indonesian, Thai, Malay, German, Vietnamese.

FP Markets have a double AA grade support rating because FP Markets offer live chat and email support in multiple languages.

Livechat Support at FP Markets

We tested the FP Markets live chat and it works well. We sent messages to FP Markets livechat through their app and website and recieved a response within 30 seconds.

We tested communicating with FP Markets support in multiple languages in multiple countries. FP Markets where able to quickly resolve our customer issues.

Email Support at FP Markets

We sent several emails to FP Markets and answer times overall were excellent. The fastest response from FP Markets was less than 15 minutes and the slowest response was 7 hours. Support response times may vary for you with FP Markets, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall very good email support from FP Markets.

Phone Support at FP Markets

We called FP Markets and the call was answered very quickly. The call was answered in less than 5 minutes.

The FP Markets phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual FP Markets team by calling in varying languages. FP Markets made an effort to make sure our queries were answered.

Overall great phone support from FP Markets.

See how FP Markets Support Compares Against Other Brokers

What you will need to open an account with FP Markets

As FP Markets is regulated by Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

• Be aware that the expiration date of Proof of address document for different entities under FP Markets Brand may be different.
• A scanned colour copy of your passport, driving license or national ID
• A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 5 minutes or so to complete the account opening process.

While you might be able to explore FP Markets's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with FP Markets you can visit the FP Markets trading platform here.

CFDs are leveraged products and can result in significant losses, excess of your invested capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.fpmarkets.com.au/ on June 30, 2022.

Watch this FP Markets Explainer Video

FP Markets review written by Andrew Blumer and Mark Hansen