Is FP Markets Regulated in Singapore? Is it Legit? - TU Expert review
FP Markets is a regulated Forex broker supervised by financial authorities in. The broker adheres to the standards established by its regulators, ensuring a secure and transparent trading environment. FP Markets countries of regulation:
| Regulator | Full name | Country |
|---|---|---|
| CySec | Cyprus Securities and Exchange Commission | Cyprus |
| ASIC | Australian Securities and Investments Commission | Australia |
| FSCA SA | Financial Sector Conduct Authority of South Africa | South Africa |
| FSC (Mauritius) | Financial Services Commission of Mauritius | Mauritius |
| FSA (Seychelles) | Financial Services Authority of Seychelles | Seychelles |
| SVG FSA | Financial Services Authority of St. Vincent and the Grenadines | St. Vincent and the Grenadines |
| MISA (Mwali) | Mwali International Services Authority | The Comoros |
Is FP Markets regulated in Singapore? Broker’s license
Security (Protection for Investors)
FP Markets is a global company with many entities that are licensed by:
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ASIC (Australian Securities and Investments Commission) under number AFS № 286354;
-
MISA (Mwali International Services Authority) under number T2023412;
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FSCA (Financial Sector Conduct Authority | South Africa) under number FSP 50926;
-
FSA (Financial Services Authority | Seychelles) under number SD130;
-
FSC (Financial Services Commission | Mauritius) under number GB21026264.
Additionally, the broker is registered by FSA (Financial Services Authority | St.Vincent and the Grenadines) under number 126 LLC 2019.
The availability of numerous licenses, including ASIC and FSCA, provides a proper security level. Supervisory authorities control the broker’s financial performance and require that it comply with conditions of client funds protection.
👍 Advantages
- The broker provides its services in strict compliance with the agreement
- Traders can file complaints with regulators
- Client funds and the company’s capital are segregated
👎 Disadvantages
- The €20,000 compensation is available only to EU traders
- Leverage is reduced to 1:30 for retail traders from the EU and Australia
- No professional liability insurance
Is FP Markets regulated in Singapore? Broker’s license
FP Markets regulation review
| Regulator | Country | Regulation level | Investor Protection Fund |
|---|---|---|---|
|
CySec
|
Cyprus | Tier-1 | Up to €20,000 |
|
ASIC
|
Australia | Tier-1 | No specific fund but has stringent consumer protection |
|
FSCA SA
|
South Africa | Tier-2 | No specific fund |
|
FSC (Mauritius)
|
Mauritius | Tier-3 | No specific fund |
|
FSA (Seychelles)
|
Seychelles | Tier-3 | No specific fund |
|
SVG FSA
|
St. Vincent and the Grenadines | Tier-3 | No specific fund |
|
MISA (Mwali)
|
The Comoros | Tier-3 | No specific fund |
Understanding Forex Regulation Levels
When choosing a Forex broker, their regulatory framework plays a pivotal role in ensuring trust and security. Below is an overview of the different regulatory tiers:
-
Tier-1 Regulators:
These authorities are globally recognized for their strict oversight and high compliance standards. They prioritize trader safety, financial transparency, and overall market stability. Notable examples include the FCA in the United Kingdom and ASIC in Australia. -
Tier-2 Regulators:
While not as stringent as Tier-1, these regulators enforce solid compliance protocols that provide traders with a fair degree of security and reliability. -
Tier-3 Regulators:
Often limited to simple registration processes, Tier-3 regulators operate in jurisdictions with minimal oversight. Brokers under Tier-3 regulation face fewer compliance demands, offering traders less protection.
Short summary about the broker 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% |
Pros and cons of FP Markets
👍 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.
Why is it important for a broker to have the license in Singapore?
A financial license is the key document for any broker. It confirms that the company complies with the requirements of the financial regulator and observes the law. It is important for traders to choose a broker registered their jurisdiction for the following reasons:
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Any claim is filed at the place of the broker’s registration. Accordingly, in case any dispute arises, it will be easier for the trader to file a claim.
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A license issued in Singapore guarantees that the broker operates in compliance with the laws of this country and reports to the local regulatory authorities.
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Traders can claim compensation under the government programs of deposit guarantees in case the broker experiences financial problems.
It is also possible to choose a broker that is not regulated in Singapore. In that case, however, the company must have a license from a reliable regulator, for example of an EU country, the UK, USA, Australia, etc.
Brokers that are similar to FP Markets
In addition to FP Markets, also other brokers from this jurisdiction have the license of Singapore. FP Markets has many competitors, and before you start working with this broker, you need to compare it to other companies. TU analysts have prepared a comparison of brokers that operate in the Singapore market and have a license of this or another reliable jurisdiction.
Comparison of FP Markets with other Brokers
| FP Markets | Eightcap | XM Group | RoboForex | Exness | Pocket Option | |
|---|---|---|---|---|---|---|
Trading platform |
MT4, MT5, WebTrader |
MT4, MT5, TradingView |
MT4, MT5, MobileTrading, XM App |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
Pocket Option, MT5, MT4 |
Min deposit |
$100 |
$100 |
$5 |
$10 |
$10 |
$5 |
Leverage |
From 1:1 |
From 1:30 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
Trust management |
No |
No |
No |
No |
No |
No |
Accrual of % on the balance |
No |
No |
No |
10.00%% |
No |
No |
Spread |
From 0 points |
From 0 points |
From 0.8 points |
From 0 points |
From 0 points |
From 1.2 point |
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
Execution of orders |
Market Execution |
Market Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution, Instant Execution |
Market Execution |
No deposit bonus |
No |
No |
No |
No |
No |
No |
Cent accounts |
No |
No |
No |
Yes |
Yes |
No |
Is it safe to trade with FP Markets in Singapore?
FP Markets is quite popular in Singapore. The broker does not have a license of the local financial regulatory authority, but it is regulated in a reliable jurisdiction. Therefore, this company can be trusted. The trading conditions of FP Markets are rather beneficial compared to competitors. Accordingly, trading with this company is a good decision.
FAQ
How do I check a broker’s license?
Brokers should provide their license on their official website. It is also recommended to check it on the official website of the financial regulatory authority.
Does a broker need to have an official representative office in Singapore?
Yes. According to the rules of Singapore, brokers must have an office in Singapore. This is a mandatory condition for obtaining the license.
Can the license issued by Singapore be considered reliable protection against fraud?
Yes. The rules of the financial regulator of Singapore are very strict, which makes obtaining a license in this jurisdiction extremely difficult for scammers.
What kind of information should a broker provide for traders?
On their official websites, brokers must provide the name of the managing company, r egistration certificate, legal address and internal regulatory documents.
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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.