FP Markets Bangladesh Review 2024 - TU expert opinion
Is the Forex market legit in Bangladesh?
Forex trading in Bangladesh is legal, but there are certain restrictions. Only the residents of the country can register with the local brokers. Bangladesh Bank is the financial regulator. The bank issues licenses, supervises the operation of Forex brokers and also settles disputes between clients and brokers.
Bangladesh is a Muslim country, and the brokers that are registered there officially provide an Islamic account. It is a special account that complies with the Sharia Law. Clients can use only accounts opened in the national currency for trading.
How to Trade Forex in Bangladesh
In order to start trading in the Forex market in Bangladesh, you need to register with a broker. Verification is mandatory; you will need to confirm that you are a citizen of Bangladesh or have a residence permit. You will also need to provide proof of address.
Our Evaluation of FP Markets
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
FP Markets is a reliable broker with the TU Overall Score of 7.45 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by FP Markets clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews showed that the broker’s clients are mostly satisfied with the company.
FP Markets provides its services worldwide and adjusts its trading conditions subject to the requirements of supervisory authorities.
Detailed Review of FP Markets in Bangladesh
FP Markets is a good choice for traders from Bangladesh. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.
FP Markets is an ECN broker which means that it doesn’t interfere with trading of its clients and broadcasts prices directly from major liquidity providers. Client funds are held on accounts with AA-rated Australian banks and are segregated from the broker’s capital. User accounts on the FP Markets website offer Two-Factor Authentication (2FA), negative balance protection, and SSL encryption.
FP Markets by the numbers:
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25+ payment systems;
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10 base account currencies;
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40+ awards for premium services and the best execution speeds;
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24 seconds is the average response time in a live chat;
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Client support is available in over 40 languages.
Advantages of FP Markets for trading in Bangladesh
Traders Union analysts conducted a detailed analysis of FP Markets for traders from Bangladesh. The experts outlined the key benefits of the company for the clients from this country. The advantages of the broker are as follows:
Clients are not required to confirm their bank cards before making a deposit;
Access to analytics from Autochartist and Trading Central, economic calendars, and Traders Toolbox;
The broker doesn’t charge inactivity fees, but it archives accounts with the possibility to unblock them at any time;
During high market volatility, leverage reduces automatically to protect traders from big losses;
Traders can work from any device without installing special software.
FP Markets offers numerous tools to improve trading quality, access to a large number of markets, and leading trading platforms.
Analysis of the Main Features of FP Markets in Bangladesh
Traders Union analysts analyzed the key features of FP Markets for traders from Bangladesh. TU uses its own evaluation method, assessing each block separately. Based on the results of the assessment, an overall score is given.
Trading conditions for FP Markets traders from Bangladesh
It is important to assess trading conditions before you decide to work with a specific company. Traders Union analysts have prepared a comparison of FP Markets trading conditions for traders from Bangladesh. The experts analyzed minimum deposit, trading platforms, leverage and other important information that could impact a trader's choice of a broker.
| 💻 Trading platform: |
MetaTrader 4, MetaTrader 5, cTrader, and Iress for Australian residents
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|---|---|
| 📊 Accounts: |
Demo MT4, Demo MT5, Demo cTrader, Standard, Raw, Islamic Standard, Islamic Raw, and Iress
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| 💰 Account currency: |
USD, EUR, AUD, GBP, PLN, SGD, HKD, CAD, CHF, and JPY
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| 💵 Replenishment / Withdrawal: |
Bank cards, bank transfers, cryptocurrencies, broker-to-broker transfers, Skrill, SticPay, Neteller, FasaPay, Rupee Payments, Rapyd, Perfect Money, Pagsmile, Rapid Transfer, Google Pay, Apple Pay , and other payment systems
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| 🚀 Minimum deposit: |
AUD 100 or equivalent
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| ⚖️ Leverage: |
Up to 1:500
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| 💼 PAMM-accounts: |
Yes
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| 📈️ Min Order: |
0.01
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| 💱 Spread: |
Standard — from 1 pips
Raw — from 0 pips |
| 🔧 Instruments: |
Currency pairs and CFDs on metals, indices, commodities, stocks, ETFs, bonds, and cryptocurrencies
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| 💹 Margin Call / Stop Out: |
100%/50%
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| 🏛 Liquidity provider: |
Commerzbank, HSBC, BNP Paribas, and others
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| 📱 Mobile trading: |
Yes
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| ➕ Affiliate program: |
Yes
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| 📋 Orders execution: |
ECN pricing on MT4, MT5, and cTrader
DMA pricing on Iress |
| ⭐ Trading features: |
No restrictions on the number of open trades
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| 🎁 Contests and bonuses: |
Refer a Friend bonus
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FP Markets Commissions and Fees
Traders Union analysts analyzed commissions and fees charged by FP Markets for traders from Bangladesh. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.
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 |
The broker withholds swaps for transferring positions overnight. On Wednesday night, triple swaps are charged.
TU experts have compared FP Markets’ fees to those of other brokers. The results are shown in the comparative table below.
FAQs
Is FP Markets legal in Bangladesh?
Yes. FP Markets operates legally in Bangladesh. The broker holds the necessary licenses.
Can you learn trading with FP Markets? Does the broker offer courses for traders from Bangladesh?
Yes, FP Markets offers good trading courses and a lot of educational information for clients from Bangladesh.
Can FP Markets be trusted? Has the broker been operating in Bangladesh long?
FP Markets has been operating in Bangladesh quite long and has a good reputation. Therefore, traders can work with FP Markets.
Is FP Markets suitable for novice traders from Bangladesh?
Yes. FP Markets offers optimal trading conditions and good education for beginners from Bangladesh.
How efficient is FP Markets customer support in Bangladesh?
FP Markets offers a sufficient number of ways to contact customer support in Bangladesh, and also provides support in the state language.
Has FP Markets had any incidents involving theft of funds of clients from Bangladesh?
No. FP Markets provides reliable security of funds of clients from Bangladesh.
Will I be able to file a lawsuit in Bangladesh if FP Markets violates my rights?
Yes. If FP Markets violates your rights, you can file a complaint with the regulator of Bangladesh, and then with a court.
Can FP Markets clients from Bangladesh use the broker’s mobile app?
Yes. The mobile app of FP Markets is available for the clients from Bangladesh.
Does FP Markets provide Bangladesh market analysis?
Analysis of Bangladesh is featured in the information provided by FP Markets.
How can I withdraw funds from my account at FP Markets in Bangladesh?
FP Markets supports bank transfers and debit/credit cards of the banks operating in Bangladesh.
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.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.