FP Markets Fees and Minimum Deposit - TU Expert review
Assessing the size of the fees is the second most important factor for choosing a broker after reliability. The lower the fees, the more diverse their structure, the more beneficial it is to trade with the broker. Minimum deposit is another important factor that may tip the scale in favor of a certain broker. This is particularly important for novice traders, who cannot afford to invest a lot at the beginning. Traders Union analysts have prepared an analysis of FP Markets fees and also assessed the size of its minimum deposit.
Short introduction of FP Markets
The FP Markets trademark is managed by FP Markets LLC registered in 2019 in St.Vincent and the Grenadines under number 126 LLC 2019. It is part of FP Markets Group with its head office in Sydney which was opened in 2005. Today, the brokerage holding firm operates using ECN (Electronic Communication Network) and DMA (Direct Market Access) technologies. It is regulated by ASIC, MISA, FSCA | South Africa, FSA | Seychelles, and FSC | Mauritius. FP Markets offers over 10,000 CFDs, MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, Iress, and leverage up to 1:500. The broker doesn’t provide its services to residents of the U.S. and the countries that are on sanction lists.
💰 Account currency: | USD, EUR, AUD, GBP, PLN, SGD, HKD, CAD, CHF, and JPY |
🚀 Minimum deposit: | AUD 100 or equivalent |
⚖️ Leverage: | Up to 1:500 |
💱 Spread: | Standard — from 1 pips Raw — from 0 pips |
🔧 Instruments: | Currency pairs and CFDs on metals, indices, commodities, stocks, ETFs, bonds, and cryptocurrencies |
💹 Margin Call / Stop Out: | 100%/50% |
FP Markets Pros and Cons
👍 Advantages of trading with FP Markets:
•Trading accounts in 10 currencies;
•Licenses from 5 jurisdictions;
•Negative balance protection for retail traders;
•Account types with different approaches to trading fee calculation;
•Copy trading, hedging, scalping, and expert advisors are allowed;
•Trading platforms customized for CFD and Forex trading;
•Wide choice of payment systems for making deposits and withdrawals.
👎 Disadvantages of FP Markets:
•Cent accounts are not available;
•If the broker fails to fulfill its obligations, compensation for losses is available only to traders from the EU;
•Spreads on the Standard account are not the tightest on the market.
Key types of fees on Forex
A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.
There are the following fees in the Forex market:
-
Spread – the difference between the buy and the sell price of an asset.
-
Commission per lot.
-
Commission per trade.
Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.
FP Markets Commissions and Fees
FP Markets’ fees vary subject to the account type and the market. Fees on the Standard account are spreads. On the Raw account, spreads start at 0 pips, and there is a $3 fee per lot for trading Forex and metals. Fees for trading CFDs on U.S. stocks and ETFs are 2 cents per stock (min $2), and for stocks of other markets, they are 0.05%-0.2% per direction (min $2/EUR 2/GBP 2/AUD 5). The broker doesn’t charge deposit and withdrawal fees. Also, it compensates fees up to $50 if deposits of more than $10,000 are made by international bank transfer. Withdrawal fees withheld by payment systems or blockchains are not compensated by the broker. There is no inactivity fee.
Account type | Spread (minimum value) | Withdrawal commission |
Standard | $10 | Fees of payment systems and banks |
Raw | $0 | Fees of payment systems and banks |
Why is it important to assess minimum deposit?
It is important for beginners and traders with limited financial capabilities to assess the minimum deposit of the broker. Different brokers offer different levels. Some companies focus on working with professional traders and their entry threshold is usually in the thousands or tens thousands of US dollars. Brokers that work with beginners offer low minimum deposit. It could be $500 or $100, or even $1.
In addition minimum deposit may differ depending on the account type. This is also an important factor to analyze. If a broker offers a low entry threshold, traders can get better conditions and still not spend too much money on funding their account.
FP Markets Minimum deposit
Guide on how traders can start earning profits
The choice of account types at FP Markets depends on the trader’s country. Muslims can work on Islamic accounts without swaps, while Australian residents can open accounts on Iress. For other countries, Standard and Raw accounts for MT4, MT5, and cTrader are available. To activate the account, pass verification and make a minimum deposit of AUD 10.
Account types:
Before opening live accounts, traders can open a demo account to check the broker’s trading conditions with virtual funds.
FP Markets has customized its trading conditions for traders from different regions and maximized the choice of platforms to satisfy clients with varied experience.
Brokers similar to FP Markets
When analyzing FP Markets, it is important to compare it with other similar companies. Before you choose a broker, it is important to compare its trading conditions with competitors. Traders Union analysts have prepared a comparison of the minimum deposit and other trading conditions of FP Markets and other brokers.
Comparison of FP Markets with other Brokers
FP Markets | RoboForex | Pocket Option | Exness | Eightcap | Vantage Markets | |
---|---|---|---|---|---|---|
Trading platform |
MT4, MT5, WebTrader |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MT4, MT5 |
MT4, MT5, WebTrader, Mobile Apps |
Min deposit |
$100 |
$10 |
$5 |
$10 |
$100 |
$50 |
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:30 |
From 1:1 |
Trust management |
No |
No |
No |
No |
No |
No |
Accrual of % on the balance |
No |
No |
No |
No |
No |
No |
Spread |
From 0 points |
From 0 points |
From 1.2 point |
From 1 point |
From 0 points |
From 0 points |
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
Execution of orders |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution |
No deposit bonus |
No |
No |
No |
No |
No |
No |
Cent accounts |
No |
Yes |
No |
No |
No |
No |
Expert Opinion
When comparing FTMO to similar prop firms, its conditions seem generally competitive and a balanced offering. With reasonable fees, enough leverage for many styles and an achievable cost starting from €155, it presents a solid choice for prop traders to evaluate further. There are also no added commissions on top of the spread which keeps trading costs low.
Some traders may find the testing requirements to be on the strict side, but this ensures people have proven themselves capable of managing risk before gaining access to larger funded accounts.
Overall, for those interested in prop trading and wanting the guidance of a funded program, FTMO offers a decent option to consider. Just be prepared to treat the challenge period like the job interview that it is.
Author at Traders Union
Conclusion
Analysis of FP Markets shows that the broker has a rather high minimum deposit. It could pose a problem for traders, who are only starting their path in trading. Nevertheless, the fees are low. Therefore, the broker will be a good choice for professional traders.
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FAQs
What deposit amount should a beginner start with?
Some brokers offer a minimum deposit of $1. However, it is recommended to deposit at least $300-500 to the account to be able to trade fully.
Is there trading without fees?
No. A broker may charge a minimum fee, but it will still be a fee. However, the company’s main source of revenue could, for example, be non-trading fees.
Can the minimum deposit differ depending on the trading account type?
Yes. Brokers often encourage clients to deposit large amounts to the account by offering better trading conditions.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!