FP Markets Review
Overview: Established in 2005, FP Markets has been able to establish itself as one of the leading online brokers in the financial industry. It has several offices in various countries and is able to provide its clients with a wide variety of instruments from different markets. Its subsidiary entities are also licensed and monitored by […]
Overview:
Established in 2005, FP Markets has been able to establish itself as one of the leading online brokers in the financial industry. It has several offices in various countries and is able to provide its clients with a wide variety of instruments from different markets. Its subsidiary entities are also licensed and monitored by some of the strictest regulators in the industry.
FP Markets is a no-frills broker that offers a best execution policy and transparent fees. It allows customers to trade with high-frequency and high-volume strategies. Although it doesn’t have a proprietary platform, it supports the popular cTrader and MetaTrader 4&5.
One of the main advantages of the platform is its ability to provide a variety of features and services, such as hosting. This allows the company to maintain its competitive advantage and provide its clients with the best possible trading experience. In addition, it allows the company to expand its research content.
With a wide variety of tools and services, FP Markets is able to provide its customers with the necessary resources to succeed in the market.
FP Markets Details
| Company Name | First Prudential Markets Pty Ltd, FP Markets LLC, First Prudential Markets Ltd, FP Markets (Pty) Ltd, First Prudential Markets Limited, FP Markets Ltd | ||||||||||
| Country | Australia | ||||||||||
| Year Open | 2005, 2019 | ||||||||||
| Headquarters | Australia, Saint Vincent and the Grenadines | ||||||||||
| Offices | Cyprus, Mauritius, South Africa, Seychelles | ||||||||||
| Employees | 50+ | ||||||||||
| License | AFS License No. 286354 (Australia), FSA SVG 126 LLC 2019 (Saint Vincent and the Grenadines), CySEC License number 371/18 (Cyprus), FSP 50926 (South Africa), License Number SD130 (Seychelles), License No. GB21026264 (Mauritius) | ||||||||||
| Regulatory Authorities | ASIC, CySEC, FSA SVG, FSA SC, FSC MU, FSCA ZA | ||||||||||
| USA Clients |  No | ||||||||||
| Japanese Clients |  Yes | ||||||||||
| European Clients |  Yes | ||||||||||
| Canadian Clients |  Yes | ||||||||||
| Restricted Countries | FP Markets doesn`t offer services to residents of certain jurisdictions such as Afghanistan, Cuba, Iraq, Islamic Republic of Iran, Liberia, Libya, Myanmar, Palestine, Russian Federation, Somalia, Syrian Arab Republic, Sudan, Yemen, United States and to jurisdictions on the FATF and EU/UN sanctions lists. | ||||||||||
FP market Highlights:
- By evaluating FP Market’s performance in 9 categories (trust and stability, fees, tradables, account types, deposits and withdrawals, research, customer support, training, and platform and tools). In the categories of tradable instruments, deposits and withdrawals, and customer support, FP Markets received outstanding marks. The company’s extensive and diverse customer support channels complement its broad range of major, minor and exotic instruments across multiple asset classes.
- In the Account Types, Research and Education categories, the broker also scored highly. To meet the needs of all types of traders, the two main retail accounts have inherently different pricing mechanisms.
- In the categories of Fees and Platforms and Tools, FP Markets scored above average. The broker offers 0.0 pip raw spreads and commission-free trading. And their clients are able to use these on some of the most popular platforms in the industry.
FP Markets Pros Cons
| Extremely low spreads on CFD sharesHas a ‘best execution policy’No inactivity feeNo handling fees for deposits and withdrawals | FP Markets’ offshore entity is unregulatedNo proprietary platform |
Regulatory Authority:
| Agency | Australian Securities and Investments Commission | ||||||||||
| Short Name | ASIC | ||||||||||
| Country | Australia | ||||||||||
| Min Capitalization | AUD 1,000,000 | ||||||||||
| Government Enforced Segregated Accounts | Yes | ||||||||||
| Description | ASIC is Australia’s corporate, markets and financial services regulator.ASIC contribute to Australia’s economic reputation and wellbeing by ensuring that Australia’s financial markets are fair and transparent, supported by confident and informed investors and consumers. | ||||||||||
| Agency | Financial Services Autority St. Vincent & the Grenadines | ||||||||||
| Short Name | FSA SVG | ||||||||||
| Country | St. Vincent & the Grenadines | ||||||||||
| Min Capitalization | N/A | ||||||||||
| Government Enforced Segregated Accounts | No | ||||||||||
| Description | The Financial Services Authority regulates and supervises the international financial services sector and the non bank financial institutions in accordance with the various governing legislation and best international practices to ensure that these sectors are reputable and contribute to the economic and social development of St. Vincent and the Grenadines | ||||||||||
| Agency | Financial Services Authority of Seychelles | ||||||||||
| Short Name | FSA Seychelles | ||||||||||
| Country | Seychelles | ||||||||||
| Min Capitalization | N/A | ||||||||||
| Government Enforced Segregated Accounts | No | ||||||||||
| Description | Safeguard the interest of the Seychelles non-bank financial services sector, through the establishment of a sound and ethical regulatory environment.To jointly create a conducive environment for the growth and development of the financial services industry of Seychelles, in alignment with the national economic development strategy and in strict compliance with local and international regulatory norms and best practices. | ||||||||||
| Agency | Financial Services Board of South Africa | ||||||||||
| Short Name | FSCA ZA | ||||||||||
| Country | South Africa | ||||||||||
| Min Capitalization | N/A | ||||||||||
| Government Enforced Segregated Accounts | Yes | ||||||||||
| Description | The FSB is an independent institution, established by statute to oversee the South African non-banking financial services industry in the public interest, and fully funded by fees and levies imposed on this industry.After more than 20 years of regulating the non-banking sector of South Africa’s financial services industry, the FSB has established itself as a reputable authority in this field, locally and internationally. Over the years, it has contributed to the stability of this industry while meeting its mandate of protecting consumers of financial products and services. | ||||||||||
| Agency | Financial Services Commission Mauritius | ||||||||||
| Short Name | FSC Mauritius | ||||||||||
| Country | Mauritius | ||||||||||
| Min Capitalization | MUR 600,000 | ||||||||||
| Government Enforced Segregated Accounts | Yes | ||||||||||
| Description | FSC is the integrated regulator for the financial services sector (other than banking) and global business. The FSC licences ‘Investment Dealers’, not forex brokers.Strong regulation and supervision are essential to ensure stability in the financial system. FSC’s objective is to position Mauritius as a jurisdiction of substance with the right balance between regulation and business development. | ||||||||||
Account Options:
The Standard account of FP Markets is ideal for individuals who are looking to take advantage of high-frequency trading techniques, such as intraday and scalping. Its lower floating spreads make it less detrimental to opening small positions. In addition, the lack of commission is also a must-have for those who are planning on regularly trading.
The Raw account is better suited for high-volume trading due to its spreads, which are starting at 0.0 pips. It’s for individuals who wish to be less active but still want to execute large positions.
| Account Type | Standard | Raw |
| Spread From | 1.0 pips | 0.0 pips |
| Commission | 0* | $6 round turn |
| Min. Deposit | 50 EUR, USD, GBP | 50 EUR, USD, GBP |
| Max. Leverage | 1:30 | 1:30 |
| Min. Trade Size | 0.01 Lot | 0.01 Lot |
| Islamic Account | No | No |
| EAs Available | Yes | Yes |
| VPS Available | Yes | Yes |
Platforms Supported
Trading Platforms MT4 for Windows, MT4 for MAC, MT4 WebTrader, MT4 Mobile, MT5 for Windows, MT5 for MAC, MT5 WebTrader, MT5 Mobile, cTrader for Windows, cTrader for MAC, cTrader WebTrader, cTrader Mobile, Iress
Mobile SupportMT4 Android, MT5 Android, cTrader Android, Iress Android, MT4 iOS, MT5 iOS, cTrader iOS, Iress iOS
Trading API
Managed Accounts Featured
MAMM/PAMM Platform Option
MAMM/PAMM Leaderboard
Trading Platform TimeGMT + 02:00
Observe DST Change
DST Change TimezoneEastern Standard Time (EST)
Non-expiring Demo
Deposit and Withdraws
The firm accepts different payment methods, such as credit and debit cards, e-Wallets, and wire transfers. Transactions are promptly processed.
Although the company doesn’t charge any fees for deposits or withdrawals, some banking charges may be applicable. For instance, Skrill, Neteller, and other payment methods have their own internal fees. Moreover, FP Markets has provided additional details about the various regulatory bodies that oversee the transactions of these providers.
Overall Review:
FP Markets is an excellent CFD broker that has a very good reputation for being transparent and trustworthy. It was founded in 2005 and has since been licensed by the Securities and Exchange Commission (SEC) and the Australian Financial Services Commission (ASIC). The company has a variety of account types that cater to different types of traders. For instance, those who are more conservative are more likely to prefer to execute smaller orders and those who are more attracted to high-frequency trading are more likely to use its more flexible pricing model.
Over 800 instruments can be traded through the various platforms offered by FP Markets, such as cTrader and the popular MT4 and 5 platforms. The firm also has access to a deep liquidity pool, which allows for fast and precise execution. However, there is still room for further improvement in the educational materials and research offered by the company.
The company’s offerings include a wide variety of content, such as daily market breakdowns, articles, and eBooks. Its high-quality service is ideal for both experienced professionals and new traders.
