FP Markets Review 2024 - Is Legit or Scam | Forexing.com (2024)

FP Markets General Information

Our FP Markets Review

FP Markets is well regulated by 3 jurisdictions high, medium, and low trusted authority. It is an ASIC regulated, Australian based broker. They are providing service since 2005. Undoubtedly, FP Markets is a choosable broker for Australian traders.

They provide over 13,000 trading instruments with fewer than 40 milliseconds of execution. It works as the NDD (no dealing desk) model. You can start trading with only $100. Since their operating service, they received over 36 Important awards.

FP Markets Trust and security

FP Markets is owned and operated by the First Prudential Markets PTY LTD. It is retail forex and CFD provider, located in Sydney.

The parent company is regulated by the ASIC (Australian Securities and Investments Commission), ABN 16 112 600 281, AFS License No. 286354. More security available through the Act of Grace mechanism, section 65, PGPA act 2013.

The FP Markets LLC is registered at St. Vincent and the Grenadines, Limited Liability Number 126 LLC 2019.

Also, they are regulated by the CySEC (Cyprus Securities and Exchange Commission) but few favorable trading opportunities. The FCA is liable for the authorization of the IBCs (international business companies).

Account types

FP markets accounts offer straightforward terms and features. They offer only 2 accounts for forex, Standard account, and Raw account. The standard account is offering commission-free trading and the raw account is a commission-based account.

The similarity between the two accounts

• The account opening deposit is $100 AUD or equivalent.
• Offers 60+ FX pairs, indices, metals, commodities.
• The maximum leverage is 1:500.
• Mobile apps and VPS available for both accounts.
• Expert Advisors (EA’s) is available for automated trading.
• Each account offers MT4 and MT4 trading platforms.

The difference between the two account

Raw Spread – starts from 1.0 pips for the standard account and raw account start from 0.0 pips.

Commission – Standard account takes zero commission per lot trading and raw account charges 3 USD per side.

Also, there are more three account types on the Iress trading platform. These are including:

• Iress Investor Fee is free.
• Free pendant data to the market.
• Fee for telephone trading option.

Iress trading platform offers Standard, Platinum, and Premier accounts. These account benefits and features are different more than similarity.

The account opening balance are:

• $1,000 – Standard account
• $25,000 – Platinum account
• $50,000 – Premier account

The brokerage rates are $10 min, then 0.1%, $9 min, then 0.09%, and No min, then 0.08%. The Financing rates are +4.0%, +3.5% and +3.0%.

In a short:

Standard account offers competitive DMA commission.

The platinum account offers lower commission ever.

Premier account offers trading without brokerage fees and platform fees. This accounts for an advanced level of traders.

Also, they offer swap free and demo account and swap free demo account. The Islamic account is available for traders who live in Islamic jurisdiction. You can choose MT4 or MT5 for the Islamic account. You have to follow the below process for opening an Islamic account:

1. First, create an MT4 or MT5 based trading account.
2. Sent a request to covert Islamic account at [emailprotected].
3. Waiting for approval from the onboard team.

*Islamic account is not available on the Iress trading platform. You may need your Proof of Identity to convert the account.

Trading platforms

As already mentioned, FP markets provide MT4, MT5, and Iress trading platform.

The MT4 and MT5 are the most popular and well-known trading platforms with a good trading environment and features. Each platform offers all major and exotic currency pairs.

Furthermore, MT5 is advanced than the MT4. It offers some more features, tools, analysis, and market news. It is more suitable and accessible via a range of devices and technology.

The MT4 and MT5 both available for MAC, PC, IOS, and Android-based systems. You need to download it for phone and Desktop (If you don’t want to use Web Platform). The downloadable applications are fully free.

Start access 70+ products across forex, Indices, and Commodities now!

The Iress trading platform

It is an advanced and comprehensive active platform. It provides direct market access for CFD’s trading. You can directly trade futures, shares, and non-DMA financial instruments.

This platform provides access or a wide range of assets, products, and instruments. You will be eligible to trade over 10,000 stocks across international markets including major stocks, such as NYSE, ASX, NASDAQ, LSE.

The specialty of the Iress platform

• Available for iPad, MAC, Windows, Android and iPhone.
• 10,000+ financial trading instruments globally.
• Technical Indicators, charts, and an economic calendar.
• Automatic trade open and close position.

Deposit and Withdrawal

It is quite easy to deposit and withdraws funds in FP Markets. Deposit and withdrawal are available via international all major methods. They accept master cards, credit or debit cards, bank wire, online banking, and e-wallets. You can use Poli Pay, PayPal, Bpay, Fasapay, Neteller, Paytrust88, Ngan Luong, and Skrill.

They offer fee-free deposit services but third-party fees such as banks, e-wallet or other method fees may require.

Education and Resources

FP markets provide a lot of resources for their readers and clients. On their website have a resources menu to provides all things together. They provide free live webinars (live analysis), eBooks (Forex and CFD trading), technical analysis, trading video tutorials Glossary Trading (Terminologies & Definitions).

Also, on the trader’s hub, they provide technical analysis, trading knowledge, fundamental analysis, economic calendar, and forex calculator.

All are resources are free and provide by an experienced and dedicated team. It doesn’t matter which level of trader you are; you will get pure knowledge and education for your career.

Customer service

FP Markets client support team is dedicated and provides multilingual (12+ Languages) support, available 24/5.

The offers a live chat option, call back option, email support [emailprotected], and phone support +44 28 2544 7780.

Also, their website has a Frequently Asked Questions section that provides all common queries answers. Further, if you need support you can visit the office during working hours.

• Monday – Saturday (AEDT) – 07:00 – 07:00
• Sunday – Friday (GMT) – 22:00 – 22:00

The office address is 1st floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent, and the Grenadines.

FP Markets doesn’t provide support for United States, New Zealand, and Japan residents.

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