FP Markets Review 2022 - The Good and the Bad

Updated May 15 2022

FP Markets Review 2022 - The Good and the Bad

FP Markets in a Nutshell

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75.31% of retail CFD accounts lose money.

🏛 Regulators ASIC, CySec, FSA.
💳 Minimum Deposit ($) 100
💰 Payment Methods Credit Card, Debit Card, Bank Transfer, Neteller, PayPal, Skrill, FasaPay, PayTrust, China Union Pay, Bpay, B2B, Sticpay, Plusdebit, Rupee Payments, DragonPay, Perfect Money, Paylivre, Rapyd, Finrax, Fairpay.
💵 Base Currencies 10 - USD, GBP, EUR, AUD, CHF, JPY, HKD, CAD, SGD, NZD.
📚 Assets Offered

CFDs on stocks, currencies, commodities, cryptocurrencies and indices

📙 Stocks 10,000 +
📘 Currency Pairs 63
💸 Cryptos 11
💪 Retail Leverage Up to 1:30
💪 Pro Leverage Up to 1:500
✍ Custom Leverage Yes
🎲 Deleveraged Trading Yes
🎓 Demo Account Yes
💰 Commissions

Commissions vary as follows:

  • Standard account has none
  • Raw account has a $3 per lot commission
  • For IRESS accounts there are various commission structures ranging from 0.1% to 0.08% with a minimum $10 charge.

Compare FP Markets

Vs.

FP Markets in 60 seconds

FP Markets is an Australian broker founded in 2005 that specialises in currencies and shares trading via MT4, MT5 and Iress platforms.

FP Markets Full Review

Here’s what we’ll talk about during our review: 

Is FP Markets Safe?

FP Markets is a reliable and safe broker that holds 3 different financial licences:

From the above list we consider the most valuable licence to be the Australian one as it’s a high reputation financial regulator that enforces a great code of conduct amongst its registered firms.

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

Other Licenses

2

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FP Markets has been operating since the year 2005. During our in-depth analysis of all the public user opinions such as TrustPilot, ForexPeaceArmy and many others we were satisfied with the results as the overall opinion of users was very positive.

FP Markets Minimum Deposit and Withdrawal

FP Markets minimum deposit is $100. Here are their deposit and withdrawal methods:

In most cases there are no deposit fees with the exception of:

When it comes to withdrawals some methods have no cost at all, but others can range from 10 AUD and increase based on the amount of your withdrawal, for example:

Since payment methods are constantly changing and fees can vary, it’s always a good idea to contact support and be sure of which are the fees you’ll pay for any particular method.

Base Currencies

FP Markets allows its customers the following account base currencies:

FP Markets Account Types

Before we look at their account types, we need to understand their client area.

FP Markets Web Client Area

In the client area, customers will be able to manage their accounts, deposit or withdraw funds and download any of the necessary resources FP Markets provides.

The most important thing about this area is that here you can create various accounts with different settings. Here’s how the customisation option looks like:

FP Markets Account Opening Customisation

We really believe that the account customization process it’s very good as it allows traders to quickly be aware of their leverage, base currency, etc.

Moving on, FP Markets provides the following account types:

Account Standard (MT4 & MT5) Raw (MT4 & MT5) Iress (Only available in Australia)
Minimum Deposit $100 $100 From $1,000 to $25,000
Spreads Dynamic - From 1 Pip Dynamic - From 0 Pips Dynamic - Market Spreads
Assets Currencies, Indices, Commodities and 1,000+ Shares. Currencies, Indices, Commodities and 1,000+ Shares. Currencies, Indices, Commodities and 10,000+ Shares.
Commissions None $3 per lot Variable structure from 0.1% to 0.08% with a minimum threshold depending on account type.
Type ECN, DMA ECN, DMA ECN, DMA

FP Markets Trading Fees

FP Markets charges (depending on account type) commissions, spreads, overnight fees, data fees and platform fees.

Spreads

FP Markets can be very competitive when it comes to spreads, here’s how they compare to other popular brokers:

Asset FP Markets Pepperstone eToro
EUR/USD SpreadDynamic - From 0 to 1.2 PipsDynamic - From 0 to 0.77 PipsDynamic - From 1 Pip
SP500 SpreadDynamic - From 40 to 60 PipsDynamic - From 0.4 to 1.5 PipsDynamic - From 75 Pips
Gold SpreadDynamic - From 0 to 31 PipsDynamic - Average 13.81 PipsDynamic - From 45 Pips
TSLA SpreadDynamic - Market SpreadDynamic - Market SpreadDynamic - From 0.09%
XLK SpreadN/ADynamic - Market SpreadDynamic - From 0.09%
BTC SpreadDynamic - From $9 to $21From 30 PipsDynamic - From 0.75%

For high volume traders looking to exploit their RAW account, FP Markets can be a great choice. For new traders that are opening a standard account, not really as the average spread will be around 1.2 Pips.

Commissions & Fees

On FP Markets’ MT4 and MT5 Standard and Raw accounts, the commissions structure is very simple:

On FP Markets Iress platform, things get a bit more tricky. Iress (only available in Australia) has 3 account types:

FP MarketsPepperstoneeToro
Commissions

Commissions vary as follows:

  • Standard account has none
  • Raw account has a $3 per lot commission
  • For IRESS accounts there are various commission structures ranging from 0.1% to 0.08% with a minimum $10 charge.
  • For Standard account : All fees included in the spread
  • For Razor account: From $7 per Lot round turn
No

FP Markets Available Assets

FP Markets definitely has a complicated account structure, the information was hard to find on their website and it’s not clear on why there is so much separation between accounts. Clearly their offer is quite appealing for experienced traders looking to satisfy a particular need from their offering.

Here’s how FP Markets asset offering compares to other popular brokers:

AssetFP MarketsPepperstoneeToro
Stocks10,000 +1,300 +2,000+ Real Stocks / 2,000+ CFDs
Currency Pairs636047
Commodities153114
Indices172513
ETFs295100145
Cryptocurrencies112026
Bonds2N/AN/A
OptionsN/AN/AN/A
FuturesN/AN/AN/A

After reviewing their offering, we can clearly place them as an amazing choice for the following categories:

When it comes to Cryptocurrencies, Commodities, Indices and many other asset categories, they’re easily outnumbered by their competitors so remember, for Forex and Stocks, they can be a great choice.

FP Markets Copy Trading

FP Markets provides a standalone solution for copy-trading on MT4 & MT5 and an integration with MyFXBook Autotrade. Here’s how it looks:

FP Markets Copy Trading

Clicking on a user’s profile will open quite a few statistics about each trader yet, just like many other major copy trading platforms a lot of important information will remain hidden such as account balances, etc.

Sadly, we don’t consider it a high value selling point for FP Markets as the system is not smooth and easily operable for the average user from a single location.

While it’s definitely not FP Markets strongest area, it’s nice to know that the feature exists for those interested in it.

FP Markets Trading Platforms

FP Markets offers the following trading platforms:

Let’s take a quick look at the web version of MetaTrader:

FP Markets Web MT4

Like the majority of MetaTrader brokers, it’s nothing more than the same platform with a banner from the broker on top.

We would definitely appreciate that FP Markets integrated their client area or made it easily accessible from within their MetaTrader platform to allow for customers to smoothly perform transactions without having to find things somewhere else.

FP Markets Mobile Trading Platform

Before we even discuss further details of the mobile platform, we would like to save you time and tell you straight away that it’s not worth using. Stick to MetaTrader 4, 5 or IRESS. The mobile web app is very primitive and has no real benefits.

Some important things to point out about the mobile platform are:

FP Markets Mobile Home

Clearly, FP Markets has its success via MT4, MT5 and Iress. It seems as if they thought of the idea of building a mobile platform and stopped half-way through.

This platform will serve you as some sort of mobile companion to monitor what happened in your MetaTrader accounts but bear in mind that we do not recommend it to trade.

FP Markets Research and Analysis Tools

FP Markets main research and analysis tools are a blog-styled Trader’s Hub and a few interesting tools for MetaTrader 4. Let’s take a look at the main features:

Here are the tools for MetaTrader 4:

From the above list, our favourites are the Correlation Trader which allows you to compare correlated assets and trade price differences between them and the Stealth Orders which allow you to hide pending orders from market participants and execute them when your price is hit.

When it comes to the Trader’s Hub, you’ll be able to find daily articles for forex traders and other interesting fundamental insights.

FP Markets Educational Tools

FP Markets provides the following educational tools:

After analysing their offer we found that the content is well-crafted yet very basic.

Verdict

After our review, we consider FP Markets a great choice for intermediate and experienced traders looking to take advantage of their RAW account with spreads from 0 pips in currencies and their Iress share trading offer, especially for high volume traders.

FP Markets is definitely falling behind when it comes to tech when compared to other popular brokers. Their proprietary mobile app is barely usable and their client area logged us out several times when trying to perform basic operations.

Clearly, the reasons for someone to choose FP Markets are none other than: trust (as it’s a brand operating since 2005 with an ASIC licence) and pricing (because their commissions and spreads are really competitive).

In conclusion, if you are:

FP Markets can be an amazing choice for you with their RAW spreads account, their wide variety of share CFDs and their Iress accounts. On the other hand, for other asset classes such as cryptocurrencies or commodities, there are other brokerage providers with a better offer.

Author

Stefano Treviso

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75.31% of retail CFD accounts lose money.