Clients may access all available options from their back office, where FP Markets lists all payment processors transparently. The availability depends on the country of residence, and not all traders may have access to all payment processors. Clients can access the trading tools from the back office of their trading account. The $6.00 commission for Forex traders per 1.0 standard lots remains among the best industry wide.
Overall, the research & education at FP Markets are of high quality and add value to the core trading environment. FP Markets delivers a good variety of mobile apps for forex and CFD traders. Its proprietary app has a nice layout for a new mobile app but lacks the advanced features that I’ve come to expect from the best brokers in this industry.
Is FP Markets safe?
Processing times also depend on the chosen method, and FP Markets notes one business day for internal processing times. Per AML guidelines, the name on the trading account and payment processor must be identical. Founded in 2005, FP Markets is an experienced broker with a clean track record. Therefore, traders can rest assured that their deposits, segregated from corporate funds, are safe. The NDD execution model allows for conflict-free trade execution, and external financial audits exist, but FP Markets does not provide details about the auditor.
The Introducing Broker Portal
Thankfully, MetaTrader and cTrader platform suites are available as reliable alternatives. FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader or cTrader platform. The Iress platform suite offers well over 10,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option. Copy trading accounts are available if you prefer to copy other traders, rather than making your own investment decisions.
With a wide range of trading instruments available from a single multi asset platform FP Markets makes trading easier and efficient. There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. FP Markets stands out for the competitive pricing available to forex traders with its ECN account. However, that pricing is only available with the MetaTrader platform, and FP Markets offers only 764 symbols on MetaTrader 5 (MT5). ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry.
To compare the trading platforms of both FP Markets and IC Markets, we tested each broker’s trading tools, research capabilities, and mobile apps. Finally, we found FP Markets to provide better mobile trading apps. FP Markets delivers a very competitive commission-based alternative with raw spreads of 0.0 pips for a commission of $6.00 per round lot. Commodities, indices, and cryptocurrencies remain free of additional costs, which remain included in the markup.
Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining bitstamp review the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform.
Its Raw account, designed for experienced traders, has a low $3 commission per lot, per side, and spreads from 0 pips. We’ve traded through this broker’s MT5 Raw account and can vouch for its low spreads and reliable trading environment. Its Raw account is designed for day traders and scalpers, and its Standard account will suit all others. At FP Markets the client comes first regardless of net capital worth, account type or size of investment. All our clients receive the same quality services, the same execution, and the same level of support.
Is FP Markets an ECN broker?
Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. FP Markets is a true ECN broker with low spreads and superior execution on the MT4, MT5, TradingView and cTrader platforms. Its Raw account will appeal to day traders and scalpers, whereas its Standard account will appeal to beginners. They include bank wires, credit/debit cards, online payment processors, and cryptocurrencies.
If you enjoy trading through the MetaTrader platform, why not host your Expert Advisors on a virtual private server in FP Markets’ very own New York data centre. FP Markets will even cover the server’s monthly fee if you make a $1,000 deposit and meet low monthly volume requirements. We also like the breadth of instruments available through its platform. You’ll find over 70 currency pairs, as well as gold and silver priced in US dollars, euros and Aussie dollars. You can also go long or short on stocks and government bonds through over 40 ETFs.
- Its Raw account will appeal to day traders and scalpers, whereas its Standard account will appeal to beginners.
- We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs.
- Clients may reach out via e-mail, live chat, phone, or the call-back option.
- At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers.
FP Markets User Experience
FP Markets was founded on these values, and that will not change. FP Markets also maintains the MAM/PAMM module, enabling retail account management. A built-in copy trading function is equally available across MT4/MT5 and cTrader, which all support algorithmic trading. MT4 is the market leader for automated trading solutions, while many consider lexatrade MT5 the failed successor amid a lack of backward compatibility.
The minimum deposit to open a trading account is just US$100 (or the equivalent amount in your own currency). But if you deposit US$1,000 or more, FP Markets will cover the cost of a VPS for your trading robots (subject to monthly trading volume requirements). Its free educational content also sets it apart from the competition. Fund your account to get access to trading signals from Trading Signal and Autochartist. You’ll also get access to free trading courses for beginners and experienced traders, weekly webinars and e-books. Our clients can choose to trade forex and CFDs on stock indices, commodities, stocks, metals and energies from the same trading account.
What is the minimum deposit for FP Markets?
In our analysis of 23 international regulators across 62 of the best forex brokers, FP Markets is considered Trusted, with an overall Trust Score of 87 out of 99. IC Markets is considered Trusted, with an overall Trust Score of 84 out of 99. The $4.00 per trade difference adds up over time and trading volume, allowing traders to save hundreds and even thousands in fees per month. FP Markets offers Islamic traders the option of opening an Islamic account.