Overview
FP Markets, established in 2005, has built a strong reputation as a global CFD and Forex broker, catering to both retail and institutional clients. Headquartered in Australia, FP Markets is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). With over 15 years of experience, the broker aims to offer a seamless trading experience, providing access to a wide range of financial markets, including Forex, indices, commodities, shares, and cryptocurrencies.
FP Markets stands out due to its focus on offering competitive spreads, fast execution speeds, and a diverse selection of trading platforms. The broker's vision is to empower traders with cutting-edge technology, ensuring a transparent and secure trading environment. The following sections explore FP Markets' key features, trading conditions, platform options, account types, and fees.
Trading Instruments
FP Markets offers an impressive array of trading instruments across multiple asset classes. These include:
- Forex: With access to over 60 currency pairs, including major, minor, and exotic pairs, FP Markets is ideal for Forex traders looking for diversity in the currency markets. The broker offers tight spreads, starting from as low as 0.0 pips on the raw spread accounts.
- CFDs on Stocks: FP Markets allows traders to speculate on the price movements of global shares, providing access to over 10,000 stocks across various exchanges, including the NYSE, NASDAQ, LSE, and ASX.
- Indices: Traders can trade popular global indices such as the S&P 500, Dow Jones, NASDAQ, FTSE 100, DAX 30, and others, using CFDs, allowing them to trade both long and short positions.
- Commodities: Commodities such as gold, silver, oil, and natural gas are available for trading via CFDs, giving traders opportunities to diversify into the raw materials markets.
- Cryptocurrencies: FP Markets has ventured into the cryptocurrency space by offering CFDs on popular digital assets like Bitcoin, Ethereum, Ripple, and Litecoin, allowing traders to gain exposure without owning the underlying assets.
Trading Platforms
FP Markets supports a variety of trading platforms, catering to different types of traders, from beginners to professionals.
- MetaTrader 4 (MT4): As one of the most widely used trading platforms globally, MT4 is known for its user-friendly interface, advanced charting tools, and support for automated trading via Expert Advisors (EAs). FP Markets’ MT4 platform ensures lightning-fast execution speeds, making it ideal for day traders and scalpers.
- MetaTrader 5 (MT5): The next generation of MetaTrader, MT5, offers more advanced features and a broader range of asset classes than MT4. It comes with improved order management, additional technical indicators, and more timeframes, making it suitable for traders looking for more sophisticated tools.
- Iress: FP Markets also provides access to the Iress trading platform, designed for professional traders and those who seek advanced features such as real-time market data, dynamic charting, and a more comprehensive range of order types. Iress is primarily aimed at share traders who need detailed market analysis and execution tools.
- WebTrader: For traders who prefer to avoid installing software, FP Markets offers a web-based version of its trading platforms. The WebTrader platform provides a simplified, browser-based interface with all essential functionalities, including charting tools, order management, and trading history.
- Mobile Trading: FP Markets has mobile applications for both iOS and Android devices, ensuring that traders can access their accounts and execute trades on the go. The mobile apps are equipped with advanced charting tools, technical indicators, and push notifications for market alerts.
Account Types
FP Markets offers multiple account types to suit different trading styles and preferences. These include:
- Standard Account: This account is ideal for beginners and casual traders, offering commission-free trading with slightly higher spreads. Spreads for Forex pairs start at 1.0 pips.
- Raw Account: Geared toward more experienced traders and professionals, the Raw account offers tighter spreads starting from 0.0 pips, but with a commission of AUD $3 per side. The Raw account is popular among scalpers and day traders who require lower costs on their trades.
- Iress Account: For traders focusing on share CFDs, FP Markets offers three Iress account types: Standard, Platinum, and Premier. These accounts provide access to global shares, offering competitive commission rates and access to the advanced Iress trading platform.
Each account type supports leverage of up to 500:1 for Forex trading, but traders should be aware of the risks associated with high leverage.
Trading Conditions and Execution
FP Markets is known for its fast execution speeds, primarily due to its Electronic Communication Network (ECN) trading model. This model provides direct access to liquidity providers, ensuring low latency and minimal slippage. The broker claims to offer some of the tightest spreads in the industry, especially on the Raw account, where spreads can go as low as 0.0 pips during major market hours.
One of the key advantages of FP Markets is the absence of a dealing desk. This means the broker does not trade against its clients, reducing the potential for conflicts of interest. Instead, FP Markets aggregates liquidity from top-tier institutions, ensuring that traders receive the best available prices.
Education and Resources
FP Markets provides a wealth of educational materials and resources to help traders improve their skills and stay informed about market developments. These resources include:
- Trading Guides: Comprehensive guides cover topics such as Forex trading, technical analysis, risk management, and trading strategies, helping traders at all levels expand their knowledge.
- Webinars and Seminars: FP Markets hosts regular webinars and seminars featuring experienced traders and analysts. These sessions cover a range of topics, from market analysis to trading psychology.
- Market Analysis: Daily market reports, economic calendars, and expert market analysis keep traders informed about key market events and trends.
- Trading Tools: FP Markets offers various trading tools, including VPS hosting for automated trading, a Forex calculator, and trading signals, enhancing the overall trading experience.
Regulations and Security
FP Markets operates under the regulatory supervision of two major financial regulators, ASIC (Australia) and CySEC (Cyprus), ensuring that the broker adheres to stringent industry standards. Client funds are kept in segregated bank accounts with reputable institutions, ensuring that traders' money is protected. Additionally, FP Markets offers negative balance protection, ensuring that traders cannot lose more than their account balance, an essential feature for risk management.
Fees and Commissions
FP Markets offers competitive trading fees, with spreads on the Raw account starting from 0.0 pips and a commission of AUD $3 per side. The Standard account is commission-free but has higher spreads starting from 1.0 pips. For share CFD traders, commission rates start at AUD $10 per trade for Australian shares and 0.10% for international shares.
Apart from trading fees, FP Markets charges inactivity fees if an account remains dormant for a prolonged period. The broker also offers a competitive swap-free account option for Islamic traders, adhering to Sharia law.
Conclusion
FP Markets is a well-established broker that offers a wide range of trading instruments, competitive pricing, and multiple platform options. Whether you are a beginner or a seasoned professional, FP Markets caters to a variety of trading needs with its comprehensive account types, advanced trading platforms, and educational resources. With robust regulation and a focus on providing a secure and transparent trading environment, FP Markets is a solid choice for traders looking for a reliable and versatile broker.