Are you in search of a reliable and efficient trading platform? Look no further than FP Markets Broker. It is a leading brokerage firm that offers a wide range of trading instruments and competitive pricing. In this FP Markets Forex Broker review, we will take a closer look at its features, benefits, fees, and drawbacks, and help you decide whether it is the right broker for your needs.
Overview of FP Markets Forex Broker
Established in 2005, FP Markets has over 16 years of experience in the forex industry.
The broker offers over 10,000 trading instruments, including forex, indices, commodities, and cryptocurrencies.
FP Markets provides advanced trading tools, such as the MetaTrader 4 and 5 platforms, as well as IRESS.
The company is headquartered in Sydney, Australia, and has offices in Shanghai and Cyprus.
Licenses and Regulations
FP Markets is regulated by the Australian Securities and Investments Commission (ASIC).
The broker is also licensed by the Cyprus Securities and Exchange Commission (CySEC).
FP Markets adheres to strict regulatory standards to ensure the safety of clients’ funds and maintains segregation of client funds in trusted banks.
Awards and Recognitions
FP Markets has won numerous awards and recognitions for its exceptional trading services, including “Best Global Forex Value Broker” and “Best Forex Trading Experience” by Global Forex Awards.
The broker has also been recognized for its exceptional customer service and educational resources.
Advantages and Disadvantages
Account types and features
Standard Account. Ideal for new traders, this account type offers low minimum deposits and no commission fees.
Raw Account. Designed for experienced traders, this account offers low spreads starting from 0 pips and a small commission fee per trade.
Islamic Account. Suitable for traders who follow Sharia law, this account offers no swap fees or interest charges.
Demo Account. A risk-free account that allows traders to practice trading strategies using virtual funds.
MAM/PAMM Account. Designed for money managers, this account type allows for managing multiple accounts with a single platform.
Deposits and withdrawals
Multiple deposit options including bank transfers, credit/debit cards, and electronic payment methods such as Neteller and Skrill.
No deposit fees are charged by FP Markets.
Withdrawals can go through the same methods as deposits.
No withdrawal fees are charged by FP Markets, but third-party fees may apply.
Payments are typically processed within 1-2 business days.
Withdrawals are only available to accounts that are verified and belong to the account holder.
MetaTrader 4 (MT4). Widely regarded as the industry standard, MT4 is a powerful platform that offers advanced charting and analysis tools, customizable indicators, and automated trading capabilities.
MetaTrader 5 (MT5). A newer version of the popular MT4 platform, MT5 offers more advanced features, including additional chart types, depth of market (DOM), and more order types.
IRESS. A professional-level trading platform that provides advanced trading tools, real-time market data, and direct market access (DMA) to trade forex, indices, shares, and more.
WebTrader. A browser-based platform that allows traders to access their accounts and trade from any computer or device with an internet connection.
Mobile Trading. FP Markets offers mobile trading apps for iOS and Android devices, allowing traders to trade on-the-go and stay up-to-date with the markets.
Spreads. Starting from 0 pips on the Raw account type, FP Markets offers competitive and tight spreads on a range of trading instruments.
Leverage. FP Markets offers flexible leverage options, ranging from 1:1 to 500:1, depending on the trading instrument and account type.
Minimum lot size. The minimum lot size is 0.01, allowing traders to execute smaller trades and manage their risk more effectively.
Commission. The Raw account type charges a small commission fee per trade, while the Standard account type charges no commission fees.
Hedging. FP Markets allows hedging, which can be a useful risk management tool for traders.
Scalping. Scalping is available on all account types. Which makes FP Markets a suitable broker for traders who employ this trading strategy.
In conclusion, FP Markets Broker is a reliable and efficient trading platform that offers traders a wide range of trading instruments, competitive pricing, and advanced trading features. Its regulation by ASIC and CySEC ensures that traders’ funds are secure and their trades are transparent. Its excellent customer support and variety of deposit and withdrawal options make it a convenient platform for traders of all levels. It has limited research and educational resources and does not offer a social trading platform. However it is still a highly recommended broker for those who value security and reliability in their trading.