FPMarkets Full Review
What is FP Markets?
FP Markets has built a solid reputation as one of the top forex brokers in Australia.
FP Markets combines the latest technology with low-cost ECN-based pricing systems and offers a huge range of products to provide a true destination for traders of all types. FP Markets is also regulated by the Australian Securities and Investments Commission and gives traders access to more than 10,000 products with flexible leverage, including CFDs, indices, commodities, bitcoin and stocks, all from one account. The small initial deposit required means the ability to trade forex with just $100.
Over the years, FP Markets has won 35 industry awards from top organizations and journals, including Investment Trends, Smart Investor, Money Magazine and The Bull, as well as 5-star ratings from Canstar Cannex and more. As one of the forex traders you will be glad to know that FP Markets has won the award for the most satisfied client base for the past 6 years in a row.
Although there are a number of forex brokers in the top rankings in Australia, what sets FP Markets apart from other brokers is its outstanding customer service and fast execution of trades. In fact, we have found that a true ECN based pricing platform offers some of the lowest spreads in the forex market, allowing you to benefit from spreads as low as zero pips and leverage up to 500:1.
FP Markets is headquartered in Sydney and is based at Level 5 of the Exchange House at 10 Bridge Street. As an Australian forex broker, the company is registered with and regulated by the Australian Securities and Investments Commission, but the company gladly welcomes clients from all over the world.
Platforms FP Markets
If you are looking for a forex broker that offers traditional desktop trading platforms such as MetaTrader 4 and MetaTrader 5, but also offers cloud trading platforms, FPMarkets has it all for you; The web platform looks quite similar to the popular MetaTrader 4 trading program, but functionally we find it very similar to the desktop version.
The easy-to-use web-trader platform also includes all technical analysis indicators, including RSI, Probability and Moving Average Convergence Divergence. If you trade sporadically, you will almost not feel the need to download and install the desktop version, all trading actions can be carried out through the online trading interface.
In addition to the MetaTrader software, FPMarkets also offers the IRESS trading platform with a comprehensive set of timeframes and 59 technical indicators that can be used to perform the most in-depth technical analysis of price movements.
Besides developing an easy trading platform for desktop users, FP Markets also offers IRESS mobile trading apps for Android and Apple devices. If you are familiar with MetaTrader 4 applications for smart mobile devices, you can also download them from Google Play and login using your MT4 credentials.
FP Markets offers its clients only two types of forex trading accounts, but both types have all the features that any trader could dream of!
FPMarkets Standard Account includes Direct Processing Rates (STP), and does not charge any commissions. On the other hand, FPMarkets applies the ECN pricing model to ECN RAW accounts and charges only AUD 3 per standard lot (100,000).
The good news is that both accounts include Virtual Private Server (VPS) and mobile apps and are equipped with the ability to run automated advisors or forex robots. Also, both types of accounts allow you to trade 0.01 lots.
Keep in mind that a standard account requires a minimum deposit of AUD 100, while opening an ECN RAW account requires a minimum deposit of AUD 100.
In terms of spreads, the Standard account charges as little as 1 pip spread on certain currency pairs, unlike the ECN RAW account which charges no spread at all! You can also use 500:1 leverage with both accounts offered by FPMarkets.
Islamic Forex Accounts
FP Markets provides Islamic accounts or swap-free accounts for clients who convert to Islam and cannot earn or pay interest, and whose Islamic accounts are fully Shariah compliant.
Deposit and withdrawal methods
You can make your first deposit without incurring any fees charged by Visa or MasterCard on credit cards, but subsequent deposits made using credit cards are subject to a commission of 3.18%. As one of the major forex brokers, FP Markets has evaluated partnerships with a number of online payment service providers including e-wallet service providers such as Neteller, Skrill, POLi, AstroPay and China Online Pay. If you are from Australia, you can also use BPAY.
Besides various credit cards and e-wallets, you can also make deposits into FPMarkets forex accounts by wire transfers from your local bank account in Australia or with international transfers using the SWIFT network.
If you wish to withdraw, you can use the FP Markets online account portal to request any funds, and the processing will take place immediately.
FP Markets currently has offices in Sydney and Beijing, and you can contact our customer support team by calling +61 2 8252 6800 in Australia. If your need for support is not urgent, you can contact them via email directly at the address firstname.lastname@example.org.
As mentioned before, FP Markets' main office is located in Australia, and you can visit them in person at the following address:
Level 5, Exchange House
10 Bridge St
Sydney, NSW 2000
The strict regulatory oversight exercised by the Australian Securities and Investments Commission has motivated many committed forex brokers to settle in Australia. But out of all the forex brokers out there in Australia, FP Markets stands out due to its long history of providing the absolute best customer support in the sector.
While many forex brokers seek to entice clients with massive promotions, FP Markets only offers a 10% credit bonus, and at the same time seeks to offset this by offering super fast trade execution. If you use automated trading strategies and host your EAs on a VPS, FPMarkets will be happy to refund you the cost of VPS hosting. FP Markets also offers a $100 bonus when referring a new client to it.
Although FPMarkets is a relatively old company, it has succeeded in keeping pace with development and innovation. Over the past year, it has designed and introduced some of the best forex products in the market, and its platforms use a combination of the latest technologies in the field. Whether you are new to forex trading or a professional, FP Markets can provide you with the right platform for all your forex trading needs.