FP Markets Review
Established in 2005, FP Markets offer award-winning lightning-fast ECN trading conditions with direct market access pricing, tight spreads from 0 pips and flexible leverage up to 1:500. They have a huge number of products to trade with over 10,000 global instruments including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, CFDs & ETFs.
FP Markets (First Prudential Markets Pty. Ltd.) have a no requote policy and are under strict ASIC regulation with their head office located in Sydney, Australia. They also have strong presence in China with offices in both Beijing and Shanghai.
Focused on understanding what traders need, FP Markets mission is to provide the ultimate trading experience to all types of traders. They incorporate the latest technologies to ensure low cost true ECN pricing in all market conditions.
There is a selection of powerful trading platforms to choose from, MT4, MT5 & IRESS. Clients have the convenience of being able to trade all markets and instruments from one account.
Liquidity providers include huge global names Barclays, HSBC, RBS, Credit Suisse, J.P. Morgan, Goldman Sachs, Deutsche Bank, Standard Chartered, Citibank and BNP Paribas.
They have won numerous awards (36 and counting) for fast execution speeds, client satisfaction and customer support. Multilingual support is available 24 hours a day, 5 days a week. Each client is provided with a dedicated account manager.
FP Markets are rated excellent on Trustpilot, with a 9/10 star rating based on 100+ reviews.
Pros / Cons
- ASIC regulation
- Huge range of trading products
- True ECN pricing model
- IRESS trading platform
- Commission free accounts
- Multiple deposit / withdrawal methods
- Segregated client funds
- Multiple awards
- No US clients
- Restricted leverage for EU clients
- No fixed spread accounts
FP Markets Regulation
FP Markets is authorised and regulated by the Australian Securities and Investment Commission (ASIC). ASIC regulation means that they must comply to strict rules and regulations which helps to give clients peace of mind that they are using a trusted and reputable trading broker who will operate with the upmost integrity and transparency.
Client funds are held in segregated accounts with top tier banks, separate from the company’s funds to ensure that they cannot be used for any other purpose.
FP Markets Countries
FP Markets accepts clients from all over the world although they do not accept applications from residents of USA, Japan or New Zealand, or from any other country or jurisdiction where restrictions apply due to local laws and regulations.
FP Markets Trading Platforms
Traders can access global markets and manage their portfolio from a range of desktop, web and mobile trading platforms.
MetaTrader 4 (MT4) is one of the world’s most popular trading platforms and provides live streaming prices with advanced charting features including a large range of 50+ built in indicators for market analysis to assist you with your trading decisions.
The FP Markets MT4 platform incorporates a true ECN exchange model for fast order execution. Multiple charts and market data can be viewed at the same time which enables you to efficiently track multiple instruments. One click trading is supported so that you can easily execute numerous order types directly on live charts.
You can sign up for free to the MQL5 community to access many other indicators and follow other traders.
MT4 is available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet).
MT4 is fully customisable to suit your own individual preferences with emphasis put on usability for quick and efficient trading. There are multiple chart types and time frames along with a set of drawing tools. Users can modify chart layouts, time frames, colours and add technical indicators to charts.
You can create your own trading strategy templates and save them for future use or attach one of the templates already included to charts. Custom indicators and automated trading strategies can also be created.
MetaTrader 5 contains many of the same features as MetaTrader 4 with more indicators, market depth display, 21 time frames, built in economic calendar and an improved strategy tester.
IRESS has a fluid and intuitive design, supporting multi-product execution and giving users access to level 2 exchange data. You can see prices flowing directly from the underlying exchange and have your orders placed into the exchange order book at the click of a button.
All order types are supported, including complex order types for the more advanced users and custom order strategies. It has transparent pricing and market depth with access to over 10,000 products.
There are customised trade and news alerts that arrive in real time directly on to the platform or via email and SMS. This enables you to stay up to date with the latest market news and pricing.
IRESS is available on desktop, web and mobile.
Its advanced charting package has a vast range of technical indicators and trading tools for analysing the markets. You can use any of the 50+ technical indicators included to efficiently seek out potential trade opportunities and to help identify when the market is trending or ranging. The variety of indicators include RSI, Ichimoku, MACD and many more of the most popular indictors.
The drawing tools can be used to annotate and mark important levels such as support and resistance on your charts, across multiple time intervals.
There are over 10,000 global trading instruments on the IRESS platform that can be traded 24 hours a day.
Multiple Time Frames
Multiple time intervals cater for a range of different trading styles, from day traders to long term investors. Charts can be displayed from tick movements to historic information.
You can use the indicators and drawing tools to create your own preferred trading template and conduct in-depth analysis on multiple instruments. These templates can be saved for future use.
You can compare price correlation between different instruments across multiple time frames. Analysing the strength of correlation can help to identify potential trading opportunities.
FP Markets Trading Tools
Whatever your level of trading experience, novice or professional, there is a set of tools that can be used to assist with your trading. This includes an economic calendar, alerts, trade terminal and more advanced trade assistance apps. There are detailed user guides for each of the tools.
FP Markets have a trader toolbox that can help you to get the most out of the trading platforms whilst enhancing your overall trading experience and taking it to the next level. To receive access to the trader toolbox you need to make a deposit of at least $1,000 and will be sent the software via email.
Trader Toolbox Connect
Trader Toolbox Connect gives you news feeds and economic calendars direct to your trading platform.
The Trader Tools Alarm Manager allows you to setup customised alerts and notifications as well as perform automated actions such as opening and closing your positions.
The Trader Toolbox Correlations Trader app lets you compare correlation between two instruments and displays recent price activity to help with your trade decisions.
The Correlation Matrix displays areas of low or high correlation between markets on multiple time frames. This can be used to find trading opportunities.
This tool allows you to interact with trading platforms and send commands via VBA code in Excel RTD. You can monitor, analyse and report your real time trading activity directly into excel. This includes ticket and price data.
Market Manager lets you view the markets recent price activity, place and manage orders, take full control over your account and keep up to date with the latest market information.
Stealth Orders allow you to hide your pending orders from other market traders. It will buy and sell at market of a pre-defined price rather than place a limit or stop order. You can also use stealth stop losses and take profits.
The Tick Chart Trader can be used to quickly enter and exit trades multiple times during your trading session.
The Session Map provides a brief overview of the markets and your trading account. It displays the main markets across the globe, economic calendar and key market information.
Trade Terminal has additional trading features that are not usually included within trading platforms. It shows an overview of account metrics, position analysis and allows you to automatically apply rules for scaling out of positions.
The Mini Terminal is an extension of the Trade Terminal with the purpose of enabling you to fully concentrate on a specific market with specific charts.
The Sentiment Trader displays information about FP Markets clients current and historical positions. You can see what other traders are doing which is sometimes used as part of a correlation trading strategy.
A VPS (Virtual Private Server) allows you to run trading platforms on a virtual machine 24/7. FP Markets has partnered with Liquidity Connect (LiquidityConnect.com), to provide a free customized low latency solution for qualified traders who meet minimum trading requirements, starting from trading over 10 lots on a standard account. The FP Markets Edition VPS seamlessly connects traders to the Equinix NY4 grid using the latest innovative technology.
You can access your VPS from anywhere at anytime via Remote Desktop Connection (RDP) or a mobile platform.
Reduce Power Bills
As a VPA runs in a data centre, there is no need to have your computer running which can save on power costs whilst keeping your trading strategies running.
A VPS lets you run trading platforms around the clock. This can be useful if it is not possible to have your computer switched on all of the time and you need to run an automated system.
If using a professional data centre, there is a chance that the data connection speed will be faster than using the internet at home. FP Markets use a provider who are located close to their own servers to help maximise trading speeds.
FP Markets offer a Multi Account Manager (MAM) and Percent Allocation Management Model (PAMM). Money managers can take advantage of FP Markets true Electronic Communications Network (ECN) and deep liquidity for tight spreads and fast execution speeds at the required volumes.
Bespoke trading conditions
Money managers can customise trading conditions such as commission and spread mark-ups, leverage, fees, account currencies and margin call/stop out.
Funds can be transferred in and out of MAM and PAMM accounts quickly and easily without interrupting the trading activity.
You can get real time commissions into your trading account and withdraw them at any time. The MAM manager is able to quickly calculate performance fees and commission at any time.
FP Markets Education
FP Markets have an online information centre with a collection of educational guides that are divided into 3 sections, beginner, intermediate and advanced. These guides cover a variety of different topics from the vary basics of trading, risk management, trading platforms, technical analysis and more.
There is an abundance of information all in one place that is suitable to different levels of traders including video tutorials and eBooks to help improve your trading knowledge and skills.
FP Markets also provide daily market reports, market analysis and webinars.
FP Markets Trading Instruments
FP Markets offer a large range of global trading instruments across multiple markets that can all be traded from one account. Forex can be traded on MetaTrader 4/5 whereas CFDs are available on the IRESS platform.
There are over 10,000+ global products to trade including Equities, Indices and Commodities. You can trade these through FP Markets award winning platform with transparent pricing, fast execution speeds and competitive trading costs.
You can specify the expiry that you want by choosing the expiry contract month, with a large selection of contracts to choose from, including major commodities such as Crude Oil, Live Cattle, Corn, Platinum and SFE SPI 200.
FP Markets provide a good selection of minor, major and exotic currency pairs. These are available 24 hours a day, 5 days a week. Leverage goes up to 1:500 and spreads start from 0 pips.
They have some of the world’s largest liquidity providers to give clients access to greater liquidity and industry leading spreads. Transparent price feeds offer fast and reliable order execution.
You can trade over 2,000+ domestic shares and ETF’s with no hidden fees and charges. The commission structure is highly competitive and a free 24-hour phone broking service is included.
FP Markets Trading Accounts & Fees
FP Markets have a few different accounts for beginner and advanced traders. All accounts come with flexible leverage up to 1:500 and implement the true ECN pricing model via NY4 Equinix Servers in New York. This aims to deliver the tightest possible spreads and fastest possible trade execution speeds.
The standard account has a low deposit requirement of just $100, spreads from 1.0 pips and charge no commission on trading.
ECN RAW Account
The ECN RAW account also has a minimum deposit of just $100, with spreads starting from 0 pips but does charge a very competitive $3.5 commission per lot.
FP Markets offer a selection of trading accounts specifically for CFDs. The Professional, Platinum and Premier accounts. The Professional account has the lowest initial deposit of $1,000 but the highest fees overall whereas the Platinum account requires a higher $25,000 initial deposit but has lower fees. The Platinum account has the largets initial deposit requirement of $50,000 but does have the lowest fees overall.
FP Markets Customer Service
FP Markets award-winning multilingual support team is available 24/5 to respond to all of your questions and technical support request. Support is available via phone, chat and email.
FP Markets Deposit & Withdrawal
FP Markets have a good selection of different funding and withdrawal methods including some online payment processors such as Skrill and Neteller that are quick and easy to use.
Fees may be charged when using certain payment methods. Bank transfers can take a few business days to clear. Accounts can be opened in USD, GBP, EUR, CHF, JPY, NZD, CAD, SGD, HKD & AUD. The various different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
FP Markets Account Opening
Opening an FP Markets account only takes a few minutes. There is a short online form to complete after which you will need to verify your email. You then upload your identification documents for KYC purposes. Once confirmed you are able to fund your account and start trading. Customer support are available to assist during the account opening process if required.
FP Markets Conclusion
FP Markets is a strictly regulated broker with over a decade’s worth of experience and offer a large range of trading products across multiple global markets. They have award winning platforms with transparent pricing, fast execution speeds and competitive trading costs. There are flexible account types and leverage to suit all types of traders.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.