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FP Markets review and ratings

Established 2005
Location Australia
Regulation ASIC
Offices Sydney, Beijing, Shanghai
Broker type STP | ECN | DMA
Leverage up to 1:500
Deposit from 100 AUD
Spreads low  low
Platforms Web MetaTrader 4 MetaTrader 5 Specific
Instruments Currencies Crypto Indices Metals Energies Softs Stocks ETFs
Funding methods Wire Transfer Credit Cards Skrill Neteller UnionPay Bpay POLi AstroPay

Company information

FP Markets is a forex broker located in Australia, regulated by the Australian Securities and Investments Commission (ASIC).

Availability

FP Markets accepts clients from all over the world, excluding USA, Russia, Japan, New Zealand and some other countries where restrictions apply.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

45+ Currency Pairs Based on major and minor world currencies.
1 Crypto Pair Based on Bitcoin.
11 Indice Cash CFDs Based on baskets of different blue-chip stocks.
8 Indice Futures Based on baskets of different blue-chip stocks.
4 Metal Spot CFDs Based on Gold and Silver.
2 Metal Futures Based on Platinum and Palladium.
1 Energy Spot CFD Based on Crude Oil (WTI).
4 Energy Futures Based on Crude Oil (WTI), Heating Oil, Gasoline and Natural Gas.
9 Soft Futures Based on Wheat, Soybean, Soybean Oil, Soybean Meal, Corn, Oats, Lean Hogs, Cattle Feeder, Live Cattle.
10500+ Stock CFDs Based on shares of AU, US, UK, EU and Asian companies.
500+ ETF CFDs Based on exchange-traded funds containing various tradable assets.

Indice and Commodity Futures, Stock and ETF СFDs are available at IRESS platform.

Comprehensive review

FP Markets (officially First Prudential Markets Pty. Ltd.) is an Australian-registered and regulated forex & CFD broker that has been operating in the market since 2005. In addition to its headquarters in Sydney, Australia, the broker today has a strong presence in China with offices in both Beijing and Shanghai.

The broker’s long history, as well as its ASIC regulation, means that FP Markets should be considered a reliable broker that is as safe to trade with as any of the other big names in the industry.

The main benefit of trading with FP Markets is the enormous selection of trading instruments that the broker provides access to. This applies to CFDs on individual shares in particular, where the broker offers more than 10,500 stocks to choose from, covering nearly all major Australian, European, Asian, and American companies.

In addition to this vast selection of stock CFDs, FP Markets also offers trading in physical stocks on the Australian Stock Exchange, CFDs on more than 500 exchange traded funds (ETFs), 45 popular forex pairs, stock indices, precious metals, energies and other commodities, as well as the bitcoin/US dollar pair.

The broker also offers a wider selection of trading platforms than many other forex brokers do, having both the MetaTrader 4 and 5 in web and desktop versions, as well as the advanced IRESS trading platform that runs directly in the trader’s browser window.

The IRESS platform offers trading in both physical shares from the Australian Stock Exchange and share CFDs side by side within the same trading environment. This platform costs $55 per month plus $22 per month for the data feed from the stock exchange. This is certainly on the high side for a retail trading platform, and it is worth mentioning that some other brokers will offer the same capabilities at lower prices. With that said, however, FP Markets also makes it clear that there is room to negotiate the price once a trader has generated at least $200 in commissions for the broker.

Since FP Markets is not regulated in Europe, it is free to offer clients much higher trading leverage than its EU-based counterparts. In FP Markets case, maximum leverage is set to 1:500, which is considered pretty good for regulated “onshore” forex brokers in today’s market.

The broker offers several special promotions, including a referral bonus where both the existing client and the person who received the referral will get a cash bonus, which varies depending on the type of account that is opened. In addition, there is also a 10% credit bonus for MT4 clients only, whereby clients get to claim 10% in trading credit bonus when they deposit any amount between $200 and $50,000 into a new trading account.

The account types offered by FP Markets are categorized into forex, CFD, and share trading accounts, respectively. In terms of forex, traders have the choice between a Standard account ideal for beginners with no commission but wider spreads, and an ECN Raw Account for the more advanced trader with tight spreads and commission-based trading.

The CFD accounts are designed in a similar way, with a Professional, Platinum, and Premier account available for traders to choose from. Minimum balance requirements range from $1,000 for the Professional account, to $50,000 for the Premier account.

When it comes to shares trading, FP Markets offers a Standard Account for “physical” stock trading, and a Non-leveraged CFD Account for CFD trading in shares with no trading leverage. Stock traders will find that the two account types offer very similar benefits, and that non-leveraged CFDs probably offers a lower-cost way of trading stocks than what would be possible through the physical market on the stock exchange.

Trading accounts can be funded through a variety of methods on FP Markets. Most payment methods are accepted free of charge into the MT4 and MT5 account types by the broker, while deposits into the IRESS platform is typically charged between 1.6% and 4% depending on the payment method. It’s also worth taking note that the available payment methods and applicable fees vary by the currency chosen for the deposit.

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