FP Markets Review 2020

Overall rating

Overall rating

7.5

/10

FP Markets Review 2020
Davis J.
Robertson A.
September 2020
Analysis of the Main Features of the Forex Broker

7.5

Overall rating

7.5

/10

Execution of orders

7.3

/10

Investment instruments

7.1

/10

Withdrawal speed

7.5

/10

Customer Support work

7.7

/10

Variety of instruments

7.9

/10

Trading platform

22

Position
in rating

7.5

/10

Overall rating

Trading terminals:

MT4 MT5
WebTrader
22

Position in rating

7.5/10
Overall rating

Trading terminals:

MT4 MT5
WebTrader

Summary of FP Markets Trading Company

FP Markets has provided clients with access to trading on the Forex market since 2005. More than 10,000 trading instruments are available to traders. The broker is attractive due to its favorable trading conditions, super-fast order execution, popular trading terminals, and low spreads. FP Markets is monitored by respected regulators that inspire customer confidence. The transparency and reliability of the company is guaranteed by the supervision of the Australian Securities and Investments Commission - ASIC (license number 286354) and the Cyprus Securities and Exchange Commission - CySEC (license number 371/18). The company also has a registration and an office in the state of Saint Vincent and the Grenadines (SVG FSA). The FP Markets official website contains a lot of useful information about the company, Forex trading, training, analytics, answers to frequently asked questions, a trader's blog, and much more. This training treasure trove will help you improve your level of expertise.

Attention!

We work only with accounts opened through the Traders Union website.

👍 Advantages of trading with FP Markets:

  • 15 years in the Forex market;
  • favorable trading conditions;
  • more than 10,000 trading instruments;
  • investment opportunities: MAM and PAMM;
  • order execution speed is 40 ms.

👎 Disadvantages of FP Markets:

  • no cent account type;
  • complex verification process.

Overall

FP Markets is a broker with an impressive range of trading instruments and really attractive terms for clients. The company pays a lot of attention to analytics and training. All this makes it interesting not only for the novice in the Forex market but also for professional traders and investors.

Visit FP Markets

FP Markets Latest Comments for 2020

2
3
10

The reviews by customers of the FP Markets indicate that it is a reliable brokerage company. Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of FP Markets published on the website in 2020 are verified and confirmed by Traders Union as reliable comments by real traders.

I have been trading with FP Markets for 4 months. The company takes care of its clients, regardless of the type of account or country of registration. The broker has a lot of trading instruments, more than 10 thousand, so any trader will find something that interests him. By the way, here you can invest in PAMM accounts, which is a good option for earning passive income. Conveniently, each client is provided with a personal manager who helps to maximize the efficiency and profitability of trades. Professional traders will make an accurate assessment of trading conditions, but the broker may not be suitable for novice traders due to the lack of cent accounts and a high deposit, from $100, may also scare them away.

The broker FP Markets has many trading platforms, but the proprietary terminals did not suit me somehow. I trade through my usual MetaTrader 4 using my smartphone. The broker does not prohibit the use of advisors. Auto copying is also available. The spreads are quite acceptable. Of course, when trading from a standard account on MT4, the declared 0.0 pips never happen. Most often, spreads for the EUR/USD pair are on average 0.5-0.8 pips. Also, the broker has a lot of instruments and a license. So I'm staying here. We'll see!

I have been trading with FP Markets broker for several months, but now I have chosen another company with conditions more suitable to me. The professionalism of Finnish-speaking managers is much lower than that of English speakers, so if you do not know English at an intermediate level, I do not advise you to join up here. There were no problems with quotes: the broker has proven liquidity providers, so the data is always accurate. The broker does not offer bonuses and the withdrawal commission to plastic cards is 3%. The broker does not withdraw money to WebMoney, which is a disadvantage.

I have tried cooperating with Australian brokers before, but I was ineffective. I learned about FP Markets from a trader I know who constantly praised the Iress trading platform and the favorable conditions of the broker. So I decided to open an account and test the service. But the minimum account on the Iress platform turned out to be fantastically high for me because I am not ready to deposit 1000 Australian dollars at once. For this reason, I opened a standard MetaTrader 5 account and have been successfully trading on it for 5 months. The spreads are narrow and the leverage is quite high. Of course, there are not enough systems for withdrawing funds but you may also withdraw to the card.

I don't understand why there are so many positive reviews about FP Markets on the net. Slippage and requotes are common here. The Iress terminal freezes constantly. I tried to trade with MT4 but the problem was the same. Quotes and analytics are great, but with such technical problems of the platform, it is impossible to trade profitably. Spreads are also constantly widening. The broker promises spreads from 0.0 pips, but this is just a PR move to attract new clients. I will also try to invest in PAMM accounts, since I have already opened an account here. I will give FP Markets a second chance. Let's see how things turn out!

The base currency of any account with FP Markets is the Australian dollar. For this reason, be prepared to pay extra for conversion upon withdrawal, plus a commission to payment systems for each transaction. I would like to note some positive factors like the availability of high-quality analytical and educational materials, as well as various calculators on the site. Spreads are also quite narrow, but still, their indicators are suitable only for medium-term strategies, and not for scalping. I’m still trading here, but already looking for another broker with lower commissions for withdrawing funds.

FP Markets broker left me with a mixed impression. It has a web platform, so you don't even need to download and install any apps. Technical support responds quickly, the site is convenient and informative and is presented in several languages. But be prepared that it will not be possible to replenish your trading account without passing the verification. The broker operates under an ASIC license, so everything is serious here. Client funds are reliably protected and you may also file a complaint with the regulator. Trading conditions are not much different from those of other companies, but still, the main advantage of FP Markets is a huge range of assets and narrow spreads for popular currency pairs.

2 3 >

Expert Review of FP Markets

Broker FP Markets is recognized by Traders Union members as a reliable and competitive company that offers its clients attractive trading conditions and high-quality service. Also, the broker has a very impressive list of trading instruments.

Since 2005, the FP Markets brokerage company has earned a reputation as a reliable intermediary in the field of Forex services. This is evidenced not only by customer reviews but also by the availability of all the necessary licenses, as well as a fairly large number of awards.

The site contains comprehensive information about the broker and its conditions, legal information, and much more, including extensive educational and analytical selections.

The starting amount for opening a live account is only 100 Australian dollars (about $ 70). The broker does not indulge in a variety of real accounts for MT4 and MT5. The client has access to a standard account type and Raw, as well as the possibility of opening an Islamic account. For professional traders with substantial capital, Iress — which is an improved complex platform with expanded functionality — is available. There are three types of accounts to choose from, but the minimum deposit amount starts from 1,000 Australian dollars (about 700 US dollars).

Each of the accounts has its own characteristics, so the trader can choose the one that is best for him. For trading, the company offers popular terminals and a proprietary platform.

Mobile trading is also present. The client is provided with a demo account to test the terminal, check the effectiveness of strategic models, and get acquainted with the market.

FP Markets is suitable for beginners and professional traders, and may also interest investors. The company has been a partner of Traders Union for more than one year, and during this time no significant claims were made about its work. Disputes and disagreements are resolved on an urgent basis.

Antony Robertson

Traders Union
Financial Analyst

Analysis of the Main Features of the Forex Broker

7.5

Overall rating

7.5

/10

Execution of orders

7.3

/10

Investment instruments

7.1

/10

Withdrawal speed

7.5

/10

Customer Support work

7.7

/10

Variety of instruments

7.9

/10

Trading platform

Dynamics of the Popularity of FP Markets
in 2019 among the Users of the Traders Union

Dynamics of the Popularity of FP Markets in 2019 among the Users of the Traders Union

Investment Programs, Available Markets and Products of the Broker

FP Markets is a great solution for those who prefer to trade on their own or with the help of advisors. Automatic copying is also available. This may be interesting for beginners, as well as for those who are considering trading in the Forex and CFD markets as an option for generating passive income. Also, the broker offers another option for investing capital, which is professional asset management through MAM and PAMM accounts.

  • Multi-Account Manager. A MAM account aims to improve the efficiency of managing trading accounts. MAM is hosted on the server of the MetaTrader terminal, due to which the already sufficiently high order execution speed provided by FP Markets is growing. A manager can make a transaction on hundreds of accounts in a couple of seconds. All trader's transactions are duplicated on each of the accounts, the size of transactions is determined in proportion to the volume of investments, and according to the individual conditions of risk management. Assets remain in the account holder's deposit. He can intervene in the trading process, as well as withdraw money and/or terminate cooperation.

  • PAMM accounts (Percentage Allocation Management Module). These are mechanisms of proportional participation in investment and distribution of profits, as well as losses between all investors in a fund along with the trader-manager. The latter is directly responsible for trading operations. The trader submits an offer to conclude an agreement for investors, which indicates the minimum investment volume, as well as the minimum cooperation period at the manager's interest rate.

Important!

If you are a large investor and plan on investments over $ 10,000, contact us at [email protected] or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.

FP Markets affiliate program

  • CPA. It is a program that allows you to receive remuneration for attracted clients. An excellent option for owners of popular Internet resources, like SEO specialists, bloggers, etc. The partner receives a fixed commission for each attracted client once they become active traders.

  • White Label. It is an attractive solution for existing brokers who want to provide financial services to directly to others. The program makes it possible to use the powerful foundation of FP Markets, but at the same time promote a personal brand.

  • Regional partnerships enable smaller brokerage firms to operate on behalf of FP Markets on mutually beneficial terms by becoming an affiliate.

  • Financial managers is a program for financial managers. It combines ECN pricing with flexible MAM and PAMM allocation to offer personalized solutions to customers. All technical problems are solved by FP Markets employees.

Affiliate programs are an opportunity for everyone to develop in their chosen direction. Depending on the affiliate’s goals and skills, it is easy to choose the best option for cooperation and get a source of additional income.

Rebate and Discount Programs of the Traders Union for FP Markets

For each transaction in FP Markets, the Traders Union will pay Vamribate, a return of a part of the spread or other broker's commission for a completed transaction. You can withdraw funds immediately after accrual, no limits have been set. All trading conditions remain the same for the broker's client. The difference is by cooperating with the Traders Union, the trader will receive additional payments. The result of the trader's transactions (profit or loss) does not affect the calculation of the rebate.

For each transaction made in FP Markets, Traders Union pays the trader a rebate in the amount of 80% of the brokerage company's income per lot.

Try it!  You’ll like this!

Trading Conditions for FP Markets Users

FP Markets is a reliable broker that provides access to Forex and CFD trading. With a start-up capital of 100 AUD (about 70 USD), a client can start trading on very favorable terms, including ultra-low spreads (from 0.0 pips) with a maximum leverage size of 1:500, which is great!

100 USD

Minimum
deposit

1:500

Leverage

24/5

Support

MT4 MT5
WebTrader
Trading platform: MT4, МТ5, Webtrader, Mobile, Iress
Accounts: Demo, Raw, Standard for MT4 and MT5, and Standard, Platinum, and Premier for Iress
Account currency: AUD
Replenishment/Withdrawal: Visa, MasterCard, e-wallets Neteller, Skrill, POLI PAY, BPAY, Fasapay, PayТrust 88, Ngan Luong, PayPal, Online Pay, and bank transfer
Minimum deposit: 100 USD
Leverage: 1:500
PAMM-accounts: Yes
Min Order: 0.01 lot
Spread: from 0.0 pips
Instruments: Forex, indices, metals, oil, gas, raw materials, securities, cryptocurrency
Margin call/Stop Out: 100%/50%
Liquidity provider: Barclays, BNP Paribas, Commerzbank, Credit Suisse, Goldman Sachs
Mobile trading: Mobile Platforms
Affiliate program: Yes
Orders execution: Market Execution
Trading features: There is trading in cryptocurrencies, advisors, auto copying is available, and an Islamic account
Contests and bonuses: No

Comparison of FP Markets with other Brokers

FP Markets FxPro Admiral Markets UK XM Group AvaTrade
Trading
platform
MT4, MT5, WebTrader MT4, MobileTrading, MT5, cTrader MT4, MT5, iPhone, iPad, Android, MT4 Supreme Edition MT4, MT5, MobileTrading MT4, MobileTrading, Zulu Trader, Mirror Trader, AvaTrader, AVA Option
Min deposit $100 $100 $200 $5 $100
Leverage From 1:1
to 1:500
From 1:1
to 1:500
From 1:25
to 1:500
From 1:1
to 1:888
From 1:200
to 1:400
Trust management No No No No No
Accrual of % on the balance No No No No No
Spread From 0 points From 1 point From 0 points From 1 point From 0 points
Level of margin call
/ stop out
No 25%  /  20% 100%  /  30% 50%  /  20% 25%  /  10%
Execution of orders Market Execution Market Execution, Instant Execution Market Execution Market Execution Instant Execution
No deposit bonus No No No $30 No
Cent accounts No No No Yes Yes

Broker comparison table of trading instruments

FP Markets FxPro Admiral Markets UK XM Group AvaTrade
Forex Yes Yes Yes Yes Yes
Metalls Yes Yes Yes Yes Yes
Crypto No No Yes No Yes
CFD No Yes Yes Yes Yes
indexes Yes Yes Yes Yes Yes
Stock Yes No Yes Yes Yes
ETF No No Yes No No
Options No No No No No

FP Markets Commissions & Fees

Information

The broker has been checked by Traders Union analysts for trading and non-trading commissions. The company's spread was considered as a trading commission, and additional withdrawal fees were considered as a non-trading commission.

Account type Spread (minimum value) Withdrawal commission
Standard From $0 No
Raw From $0 No
Standard From $1 No
Platinum From $9 No
Premier From $8 No

Also, a comparative analysis of trading commissions in FP Markets with competitors was carried out. Based on its results, each brokerage company was assigned an appropriate level: low, medium, or high.

Broker Average commission Level
FP Markets $8 Medium
FxPro $13.2 High
Admiral Markets UK $5 Low
FP Markets
$8
FxPro
$13.2
Admiral Markets UK
$5
Conclusion

Broker FP Markets offers medium spreads. Part of the funds spent on the commission for the broker's services can be returned using a rebate from the Traders Union.

Detailed Review of FP Markers

FP Markets is a company that, over 15 years of activity, has not only taken its rightful place in the Forex and CFD markets but has also been able to prove its stability at a fairly high technical level. Its competitive advantages lie in favorable trading conditions for clients and fast order execution.

Several liquidity providers, small spreads, and a low initial deposit attract traders. In conjunction with popular trading terminals, as well as a range of instruments, numbering 10,000 units, provides everything you need for comfortable trading. Improving the efficiency of transactions is possible thanks to high-quality analytical tools and educational materials. Also, you can invest in PAMM accounts and automatic copying of trading operations. Traders can also trade robots.

The company is regulated by ASIC (Australian Securities and Investments Commission). The presence of a license and a legal regulator proves the reliability of the broker.

FP Markets is suitable for novices and experienced traders

FP Markets is a company that has something to offer newcomers as well as professional traders. The broker may also be interested in those who want to invest in PAMM and MAM accounts.

Having a demo account allows you to test your strengths on a market simulator without financial costs because the money used in each transaction is virtual. This type of account is often used to test the profitability of strategic models.

This is a responsible approach to initial training for beginners. Also, those who do not have enough skills in Forex and CFD trading can conduct transactions automatically by using auto copying.

Thanks to the analytical tools provided by the broker, the analysis process is greatly simplified, and the efficiency of forecasting price movements is significantly increased.

FP Markets analytical services:

  • Technical analysis;

  • Fundamental analysis;

  • Economic calendar;

  • Forex calculator.

Advantages:

1

the company has extensive experience providing online trading services for 15 years;

2

several liquidity providers allow you access to the most relevant quotes;

3

low spreads, from 0.0 pips;

4

high-quality analytical and training materials make it possible to develop trading skills and make forecasts according to all the rules;

5

the presence of a regulator and a license guarantees the safety of clients' funds and prompt resolution of controversial issues;

6

10,000 trading units for transactions allow you to choose the best financial instrument.

How to Start Making Profits — Guide for Traders

‌FP Markets is a company that offers a variety of training materials. Novices are urged to start with self-education. After that, you can proceed to practical exercises using a demo account. And only then is it advisable to open a real account by choosing one of two options, standard or raw. The minimum starting amount in both cases is 100 AUD or its equivalent.

Account Type
Description
Standard-1
It is available on MT4 and MT5 platforms. The minimum spread is 0.0 pips and the deposit is AU $100 (about $70). The maximum leverage is 1:500.
Raw
It differs from standard by having tighter spreads. There is also an additional commission of three dollars per lot.
Standard-2
This type of trading account can be opened from the Iress terminal. The minimum deposit is one thousand Australian dollars (about $700). The commission for a trading lot is 10 US dollars (one-time), then 0.1% of the lot is charged. For margin rates on CFDs on shares, a 3% commission is charged, and for financing, the broker's base rate is +4%.
Platinum
The minimum start-up capital is 25,000 AUD. The commission per lot: first $9 and after that it is 0.09%, stock CFD margin rates are from 3%; and the - FP Markets’ financing base rate is +3.5%. Trading is carried out on the Iress platform. 
Premier
The minimum deposit amount is 50,000 AUD. The commission per lot is 0.08%; margin rates for CFDs on shares is from 3%; and FP Markets’ financing base rate is +3%. This trading account is available using the Iress terminal.

Bonuses Paid by the Broker

At the moment, the company does not offer any bonus programs or promotions. This is offset by the abundance of trading accounts and financial instruments, as well as the ability to use any strategy. Also, clients can trade robots and invest in PAMM accounts, as well as invest in social trading.

Bonus from Traders Union.

Traders Union allows you to save on trading. After registering with the Union, you need to follow the referral link to the FP Markets website, where you can open a trading account and start trading. After that, the Traders Union will pay the trader a rebate on the spread for each lot, even if the trade was not profitable. Existing FP Markets clients can find instructions on how to link to an existing Traders Union account here.

Investment Education Online

Information

FP Markets provides high-quality educational material on its website, which traders can use to develop trading skills and increase the efficiency of transactions.

Information available in the Analysis and Education section
Unavailable information at FP Markets site
Ebooks
How to open an account
Glossary
 
Video lessons
 
Subscription to the newsletter
 

There is sufficient educational material on the FP Markets website so that newcomers should not trade on real accounts initially. It is better to open a demo account first. It allows you to get acquainted with the trading mechanism and the terminal without making any investment.

An extensive analytical section has been created on the site to support traders. In addition to the basic instruments, it has a Trading Knowledge tab. There you can find a lot of useful information, like instructions for installing and configuring useful software such as indicators.

Security (Protection for Investors)

Information

FP Markets is regulated by ASIC (Australian Securities and Investments Commission) and CySEC (Cyprus Securities and Exchange Commission). It means that the broker acts under its own regulations and by the requirements of regulators. This guarantees clients strict compliance with the terms of the contract and the proper level of protection of their assets.

👍 Advantages

  • Client deposits are kept in segregated accounts and are not available for use by the broker
  • Dispute resolution is carried out with the involvement of an independent agent
  • The rights and obligations of the broker, as well as its client, are spelled out in the agreement

👎 Disadvantages

  • Regulators do not consider claims for compensation for moral damage

Withdrawal Option and Fees

  • The IG Markets brokerage withdraws money at the request of a trader, made in his Personal account.

  • Account withdrawal or replenishment is done via bank transfer or payment cards.

  • The speed of the transfer of money depends on the payment system you use.

  • Withdrawal Options and Fees

    • The following deposit and withdrawal options are available: bank transfer, Visa and MasterCard bank cards, electronic wallets Neteller, Skrill, POLI PAY, BPAY, Fasapay, PayTrust 88, as well as Ngan Luong, PayPal, and Online Pay.

    • Funds can be withdrawn on Neteller in AUD, CAD, CHF, EUR, GBP, JPY, PLN, SGD, USD, and on Skrill (but only in US dollars). On POLI PAY and BPAY, withdrawals are made in Australian dollars only. Withdrawal currency for PayTrust 88 is MYR, IDR, THB, VND, for Ngan Luong - VND. PayPal can withdraw funds in AUD and CAD, EUR and GBP, HKD and JPY, SGD and USD. As for Online Pay, funds can only be withdrawn in RMB. Money is withdrawn to the Fasapay wallet in USD and IDR.

    • You can withdraw funds to bank cards in any currency, and bank accounts in any currency except Australian dollars. As for the local transfers (within Australia) withdrawals can be only in AUD.

    • Funds are credited to bank cards instantly and without commission for MT4/5, and Iress with a commission: local transfer (AUD) - 1.6%; international - 3.18%. Transaction processing time is 1 business day.

    • Internal bank transfers have no commission. Enrollment takes one business day.

    • For international bank transfers, the commission is 12.5 AUD. Transaction processing takes 1 business day.

    • Withdrawals to POLI PAY, BPAY, Fasapay, PayТrust 88, Ngan Luong, Online Pay wallets are carried out without commission. Enrollment takes up to 1 business day.

    • You can withdraw money to PayPal without a commission for MT4 and MT5, and with a commission of 2% for Iress. The period during which the withdrawal request is processed in 1 business day.

    • Transfers to bank accounts opened in the broker's country are commission-free. The commission for international transfers is 25 AUD. The application is processed during a working day.

    The USD is the withdrawal and deposit currency.

  • The maximum withdrawal amount is $50 thousand per day.

  • The service of replenishment or withdrawal of money is available only after verification.

Customer Support Service

Information

The company's support service is ready to answer customer questions and help traders 24 hours a day, 5 days a week.

👍 Advantages

  • Many options for communication
  • Multilingual support
  • The site has a section with answers to the most popular questions (FAQs)
  • You can ask a question without being a client of the broker

👎 Disadvantages

  • Closed on weekends
  • The level of multilingual support is substandard

There are several ways to contact support services:

  • by phone numbers, as indicated on the website;

  • by email;

  • through the feedback form;

  • via online chat.

Support is available from the FP Markets website and from your personal account.

Contacts

Registration address First Prudential Markets Pty Ltd, Level 5, Exchange House, 10 Bridge St, Sydney NSW 2000 AUSTRALIA
Regulation
Contacts

Review of the Personal Cabinet of FP Markets

Work with any broker begins with a personal cabinet, to which existing clients need to log in, and new clients need to register. The FP Markets broker is no exception. This is quite easy to do.

1

You need to click on the "Client Portal" button, then enter your email address, password and click on "Log In". This is how MetaTrader 4 and 5 users are logged in.

FP Markets Review - Official website
FP Markets Review - Official website
FP Markets Review - Official website
2

For Iress there is a corresponding button "Iress Login". In this case, you need to enter a username and password, and select a platform from three possible options.

FP Markets Review - Registration form
FP Markets Review - Registration form
3

If the account has not yet been opened, then you need to click on the "Open real account" button. After that, you must fill out the form and supply all the requested data in the appropriate fields. Also, a prerequisite for opening an account is the passage of verification, which involves the provision of documents to verify and confirm the identity of the client.

FP Markets Review - Personal information
FP Markets Review - Personal information
4

After registration and verification, you can replenish the account, download and launch the terminal, and start trading.

In the personal cabinet on the FP Markets website, the trader has access to:

  • replenishment and withdrawal of funds;

  • history of transactions and trading operations;

  • up-to-date information on market analytics;

  • statistics on the effectiveness and profitability of affiliate programs;

  • training materials;

  • current quotes;

  • contact support.

Tags:

Fpmarkets fp markets fp markets us

The Oldest Reviews of the FP Markets

The reviews by customers of the FP Markets indicate that it is a reliable brokerage company. Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of FP Markets published on the website in 2020 are verified and confirmed by Traders Union as reliable comments by real traders.

FP Markets never interferes with clients' trading and this is an advantage. It is a pity that the company does not execute orders using the market execution method, but here each trader has his own priorities. I chose FP Markets because of the reputable liquidity provider Barclays, whose quotes I can trust. The spreads here are quite narrow, so even scalpers can trade. I'm not sure that newcomers to Forex will select this broker because there is very little information on trading conditions and a lack of educational materials on the site. But the company is quite suitable for professionals, although the number of accounts and terminals could be increased.

I chose the broker FP Markets for Forex trading because everyone knows its name. I opened an account on MT4 and for the present the conditions suit me. I cannot say that the terminal works without problems. Freezes sometimes happen, but the platform is quite stable. It is a pity that the broker offers so few options for deposits and withdrawals, and the commission can be reduced. But you can make money here and the money can be withdrawn! These are the main things for me when choosing a broker. I will be trading here until I find a company with more suitable conditions.

And why did I choose an Australian broker for trading? It turned out that when withdrawing funds from accounts, FP Markets converts AUD into other currencies at a completely extortionate rate! I checked the rate with the banks of Australia and England, but could not understand the rate the broker was charging. There are no complaints about trading conditions or the work of a personal manager, but there is something wrong with the withdrawal of money for sure. Perhaps the broker makes money not on the spread, but on currency conversion? Otherwise, why are the spreads so low? I will trade for a couple of weeks, but if the transfer fee is still huge, then I will have to look for another broker.

I saw an advertisement for FP Markets broker on one of the forums for traders. There were many positive reviews, so I decided to test its conditions. But I still don't understand: how can a good broker with more than 5 years of experience have so few awards? Okay, for me titles are not the main thing. Like most traders, I learn trading conditions. And now they are pretty good: the spreads are narrow, there are many instruments. I've been trading with a broker for only a month, but I haven't withdrawn money yet. I don’t want to pay a commission for each transaction, and there’s not much profit yet, so I plan to withdraw large amounts at once.

I started trading with FP Markets recently, but I already have many doubts about this company. The site is somehow unfinished: most of the sections can’t be opened and give errors. Technical support responds quickly, but you can only ask a question in English. I don’t know English well, so from time to time I have problems communicating with managers. Trading conditions cannot be called the most favorable in the Forex market either. I understand that the spreads are floating, but I still consider the fluctuation of their values from 0.5 to 3 points to be completely unacceptable. This broker raises a lot of questions for me. I'll trade for a while and then decide.

I chose FP Markets broker due to its license from a serious regulator. Still, before you trust your personal funds to an outside resource, you want to be sure of its safety and competence. Opening an account with this broker cannot be called quick and easy because verification is an obligatory clause of the agreement. The FP Markets website has a lot of useful information, there are instructions for installing and adjusting useful software, for example, indicators. You may trade through the usual MT4 and MT5. There is also a proprietary platform, but I did not test it: The terms of its accounts do not suit me at all. In general, you can trade here.

I have very recently started trading. FP Markets is my first broker, so I cannot compare it with other companies yet. In general, trading conditions suit me: AUDCAD has spreads from 1.9 points and leverage is up to 1:500. The base currency of the account is the Australian dollar, so I can withdraw funds without a conversion fee. I don't quite understand how swaps are charged, but I think that in time I will figure it out. If the trade is very profitable, I will participate in the affiliate program.

Author of this Review

FP Markets broker’s review prepared by

John Davis

Traders Union Author and Analyst

John Davis is a Financial and Economic Analyst working with the Traders Union since 2016. During this time, he has written more than 100 analytical articles on technical and fundamental analysis, reviews of financial companies and has developed more than 10 proprietary trading systems. John's motto is to help everyone go from a novice to a professional trader.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.

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FAQs

Do reviews by traders influence the FP Markets rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about FP Markets you need to go to the broker's profile.

How to leave a review about FP Markets on the Traders Union website?

To leave a review about FP Markets, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about FP Markets on a non-Traders Union client?

Anyone can leave feedback about FP Markets on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

Why is it more profitable to work with FP Markets through Traders Union?

Because you will receive additional payments from Traders Union every month while all other functions on your chosen trading platform remain the same.