FP Markets Review

FP Markets
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Overview

The brokerage firm FP markets is one of the most prominent Forex brokers in Australia and the’ve earned a very good reputation. With 13 years of experience to show for, fpmarkets has grown over the years to include varied trading assets like binary options as well as CFDs and cryptocurrencies.

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Details

Broker FP Markets
Website URL www.fpmarkets.com
Founded 2005
Headquarters First Prudential Markets Pty Ltd ( Sydney, Australia ) and China ( Shanghai and Beiijing )
Support Number +61282526800 ( Australia ) , +400 166 0012 ( China ) ,
Support Types Live Chat , Email , Phone
Languages English , Chinese , German , Spanish , Arabic , Vietnamese , Bahasa Indonesia , Italian
Trading Platform MT4 & MT5 Platform, Webtrader and IRESS ( mobile )
Minimum 1st Deposit $100 AUD / USD
Minimum Account Size $100 AUD / USD
Bonus 10% Deposit Bonus
Leverage 500:1
Demo info Low spreads from 0.0
Free Demo Account Open Demo
Regulated Yes
Regulation AFS Licence No. 286354
Account Types Forex: Standard ( $100 Min. Deposit ) / ECN Raw ( $1000 min.deposit ) CFD: Professional ( 1000 min.deposit ) / Platinum ( 25,000 min.deposit ) / Premier ( 50,000 min.deposit ).
Deposit Methods Credit cards , Neteller , China Union , Bank Wire , Bpay , Broker Transfer
Products Forex Trading , CFD Trading , Share Trading
Number of Assets +10.000 Tradeable Products
Types of Assets equities, forex, indices, futures, commodities and shares.
Australian Regulated Yes
Mobile Trading Yes
Tablet Trading Yes
Overall Score 96/100

Pros

  • #1 CFD Award Winning Provider in Australia ( + 35 industry awards )
  • Free $100K Demo Account
  • Low ECN Spreads from 0.0
  • +10,000 Products to trade
  • Up to 500:1 Leverage
  • Min. Deposit of only $100
  • 10% Deposit Bonus
  • Excellent Customer Service
  • Excellent Trade Execution on their ultra-fast Equinix NY4 servers
  • Great Education tools

Cons

  • Few cryptocurrencies to trade
  • They don't accept customers from USA, Japan and New Zealand

Full Review

Latest FP Markets review: 4th September 2018

About FP Markets company

FP Markets review - Forex trading in Australia

What is FPMarkets?

The brokerage firm FP markets is one of the most prominent Forex brokers in Australia and the’ve earned a very good reputation. With 13 years of experience to show for, fpmarkets has grown over the years to include varied trading assets like binary options as well as CFDs and cryptocurrencies. However, the company is best known for developing industry relationships with major Forex liquidity providers and offering a world-class service in the global currency markets.

FP Markets combines state of the art technology with low cost true ECN pricing and a huge product offering to create a genuine destination for all types of traders. ASIC regulated in Australia, traders can access over 10,000+ products with flexible leverage. A wide range of products to trade include Forex, Indices, Commodities, Bitcoin and Equity CFDs, all accessible from one account. Small starting deposits mean you can trade Forex with as little as $100.

Over the years, fpmarkets have earned 35 industry awards from the top publications and organizations, including Investment Trends, Smart Investor, Money Magazine, The Bull, 5 Stars from Canstar Cannex, and many more. Especially, as a Forex trader, you should be happy to know that FP Markets received the award for having most satisfied clients for the last six consecutive years. Also, The Bull regarded fpmarkets as the best Warrants Broker.

While there are several top-ranking Forex brokers operating in Australia, what sets fpmarkets apart is their stellar customer service and fast trade execution. In fact, we found that fpmarkets’ true ECN trading platform offers some of the lowest spreads in the Forex industry.

Based in Sydney, fpmarkets is located on the Level 5 of the Exchange House at 10 Bridge Street. As an Australian Forex broker, the company is also registered with and regulated by the Australian Securities and Investments Commission (ASIC). However, we are happy to report that they accept clients from all over the world.

Trading Platforms

FP Markets MT4 Platform - Web

If you are looking for a Australian Forex broker that not only have traditional desktop-based trading platforms like the MetaTrader 4 & 5 but also offers cloud-based trading platforms, then fpmarkets got you covered. Their web trader platform looks almost identical to the popular MetaTrader 4 software package and we found its functionality closely matches the desktop version.


Open a Practice Account on MT4 Account  Open a Real Account on MT4 Account 

The easy to use web trader platform also comes with all the popular technical analysis indicators, including RSI, Stochastics, and MACD. In fact, if you are a casual trader, you will hardly feel the need for downloading and installing the desktop version as all the trading functions can be performed through its online trading interface.

FPMarkets - IRESS plaform for mobile

Besides offering the MetaTrader software package, fpmarkets also provides traders with the IRESS trading platform that comes with a comprehensive selection of time intervals and 59 technical indicators that you can utilize to complete the most in-depth technical analysis of price movements.

Besides developing a user-friendly trading platform for desktop users, fpmarkets also offers the IRESS mobile trading apps for both Android and Apple phones. Well, if you are familiar with the MetaTrader 4 smartphone apps, you can also download it from the Google Playstore and log in using your MT4 credentials.

Type of Accounts

FP Markets accounts

FP Markets offers only two types of Forex trading accounts for their clients, but both offer all the features a trader can ever dream about!

The standard account offered by fpmarkets includes STP pricing and does not charge any commissions. On the other hand, they apply the ECN pricing model to the ECN RAW accounts and charges only AU$ 3.5 per standard lot (100,000).

The good news is that both accounts come with VPS, mobile apps, and the ability to run Expert Advisors or Forex robots. Moreover, you can trade as low as 0.01 lot in both types of accounts.

Keep in mind that while the minimum deposit requirement for the Standard account is only $100 Australian Dollars, you will need to deposit a minimum AU$1,000 or equivalent in order to open the ECN RAW account.

In regard to spreads, the Standard account charges as low as 1.0 pips on certain Forex pairs. By contrast, the ECN RAW account often doesn’t charge any spreads at all! Also, you can use up to 500:1 leverage with both types of accounts offered by fpmarkets.

Demo Account

They offer a free $100K demo account on MT4.

Forex Islamic Accounts

FPmarkets provide forex Islamic accounts, or swap-free accounts,  to those customers following the Muslim faith who are unable to receive o pay swaps. Their islamic account is 100% compliant with Sharia law.

Deposit and Withdrawal Methods

You can make the first deposit without incurring any credit card fees from Visa or MasterCard. However, subsequent deposits using credit cards will be charged a 3.18% transaction fee. As a major Forex broker, fpmarkets has partnered with a number of online payment providers, including e-wallet providers like Neteller, Skrill, POLi, AstroPay, and China-based Online Pay. If you are in Australia, you can also use BPAY.

Besides credit card and various e-wallets, you can also deposit to your fpmarkets Forex trading account using wire transfers via your local bank account in Australia or send an international wire transfer using the SWIFT network.

If you wish to make a withdrawal, you can easily use the online account portal of fpmarkets to request any sums and it will be processed promptly.

Customer Support

fpmarkets currently have offices in Sydney, Shanghai, and Beijing and you can reach the customer support by calling at + 61 2 8252 6800 in Australia. However, if you don’t need urgent support, you can also directly email them at support@fpmarkets.com

As we mentioned earlier, fpmarkets’ primary office address is located in Australia and you can visit them in the following address:

fpmarkets
Level 5, Exchange House
10 Bridge St
Sydney, NSW 2000

FP Markets Review: Summary

The strict regulatory oversight of the Australian Securities and Investments Commission (ASIC) has prompted most law-abiding Forex brokers to find a home in Australia. However, fpmarkets is unique among Forex brokers situated in Australia because of its long history of providing the absolute best customer support in the industry.

While a lot of Forex brokers try to lure clients by offering huge promotional offers, fpmarkets only offers a 10% credit bonus and try to make up for it by giving super-fast trade executions. However, if you use automated trading strategies and host your trading EAs on a VPS, fpmarkets will gladly reimburse you the cost of hosting the VPS. Moreover, fpmarkets offers a $100 bonus for referring a new client to them.

Although Fpmarkets is a relatively old company, they have kept the pace of innovation. Over the last year, they have designed and introduced some of the best Forex products in the market and their trading platform offerings utilize some of the most cutting-edge technology in the industry. Whether you are new to trading Forex or a seasoned trader, fpmarkets should be able to offer you the right platform to meet your Forex trading needs.

Customer Reviews on FP Markets

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First Prudential Markets Pty Ltd
Average rating:  
 1 reviews
by Alex K on First Prudential Markets Pty Ltd
Excellent Service
City / Country: Adelaide / Australia

No complaints with FPMarkets. Good trading conditions and spread.

John was born in Wollongong (NSW ) and studied at The London School of Economics ( England, UK ). Currently he lives in Sydney ( NSW ) and he works as financial market analyst.

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