FP Markets group includes 3 related companies.
FP Markets AU - located in Australia, regulated by the Australian Securities and Investments Commission (ASIC).
FP Markets CY - located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
FP Markets SVG - legally registered entity located in Saint Vincent and the Grenadines, but not regulated by any government agency.
FP Markets is also an authorised Financial Services Provider licensed in South Africa by the Financial Sector Conduct Authority (FSCA).
Be aware, CY company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
Unfortunately, AU company also has been imposed with trading leverage limitations by ASIC since the end of March 2021.
At the same time, SVG company accepts European and Australian traders, so one can open a trading account there.
FP Markets group accepts clients from all over the world, excluding USA, Belgium, Japan, New Zealand and some other countries where restrictions apply.
Forex broker offers the following underlying assets for trading.
|70+ Currency Pairs||Based on major and minor world currencies.|
|12 Crypto Pairs||Based on Bitcoin, Bitcoin Cash, Cardano, Dogecoin, Polkadot, EOS, Ethereum, Chainlink, Litecoin, Ripple, Solana, Stellar.|
|15 Indice CFDs||Based on baskets of different blue-chip stocks, US Dollar Index and Volatility Index.|
|15 Metal CFDs||Based on Gold, Silver, Lead, Zinc, Nickel, Aluminium, Copper.|
|3 Energy CFDs||Based on Crude Oil (WTI, Brent) and Natural Gas.|
|5 Soft CFDs||Based on Cocoa, Coffee, Soybean, Corn, Wheat.|
|2 Bond CFDs||Based on US and UK government securities.|
|10000+ 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.|
Most of the Stock СFDs and ETF СFDs are available on the IRESS trading platform.
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. Since December 2019, FP Markets has also started to operate in the EU (regulated by CySEC) and in Saint Vincent and the Grenadines (no regulation).
The broker's long history, as well as its ASIC and ESMA 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 10,000 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 CFDs on more than 500 exchange traded funds (ETFs), 60 popular forex pairs, stock indices, treasury bonds, precious metals, energies and other commodities. Further, the broker also offers trading in CFDs on cryptocurrencies like Bitcoin, Ripple (XRP), Bitcoin Cash, Litecoin, and Ethereum, against both USD and AUD.
FP Markets 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 cTrader platform (added by FP Markets in 2023), and the advanced IRESS trading platform that runs directly in the trader's browser window.
Unfortunately, the IRESS platform costs AU$ 55 per month plus AU$ 22 per month for the data feed from the Australian Securities Exchange (ASX). This is certainly on the high end 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 platform fees will be waived once a trader generates more than AU$ 150 in commissions or makes a minimum of 15 trades per month.
Following regulatory changes in Australia in 2021, the broker's Australian-regulated entity is now only able to offer leverage of up to 1:30. As usual, the same also goes for European traders who are assigned to the EU-regulated entity of the broker. However, international traders who are trading under the broker's offshore branch in Saint Vincent & the Grenadines will still be able to get a much higher trading leverage of up to 1:500, which is considered pretty good in today's market. Interestingly, this may also be possible to get for Australian and European traders if they request specifically to be signed up with the branch based in Saint Vincent and the Grenadines.
The account types offered by FP Markets are categorized into regular forex trading accounts and accounts specifically for the IRESS platform.
In terms of forex, traders have the choice between a Standard Account ideal for beginners with no commissions but wider spreads, and an ECN Raw Account for the more advanced traders with tight spreads and commission-based trading. Forex accounts can be opened with a minimum deposit of AUD 100, or the equivalent in another currency.
Similarly, the IRESS accounts also have Standard, Platinum, and Premier tiers available for traders to choose from. Minimum balance requirements range from $1,000 for the Professional account, to $50,000 for the Premier account. When it comes to commission fees, however, the Standard account has the highest fees with AU$ 10 as a minimum commission, and the Premier account has the lowest fees with only 0.08% commission (without any minimum fee).
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 forex trading accounts by the broker, while deposits into the IRESS platform is typically charged between 1.6% and 4%, depending on the payment method. However, well-known e-wallets like Skrill and Neteller are accepted free of charge regardless of the account type.
It's also worth taking note that the available payment methods and applicable fees sometimes vary depending on the currency chosen for the deposit.
All in all, we believe FP Markets is an ideal broker for traders mainly interested in trading stock CFDs. The selection here is really among the best in the industry, with stocks from more than 10,000 companies from around the world to choose from. However, given the rather high price of the broker's trading platform, it is probably best for larger traders who would qualify for having the platform fee waived.
Good customer service, was able to solve my problem with keeping me on hold and gave me further advice on to reach them faster at a later point if any issue occurs.
Great customer services with knowledgable experience in trading. Solved my withdrawal issue within a few minutes.
I chose FP Markets cause of the Execution that they provide, its faster compared to my previous broker and FP Markets has ECN execution on their forex trading accounts with direct connections to liquidity providers. They also offer DMA for their CFD accounts which gives traders access to equity and commodity CFD markets. In total, there are over 10,000 instruments on offer.
Really happy with the spreads and slippage, it's really low compared to my previous broker. Good customer service team.
I chose this broker because of the great selection of Equities on IRESS platform and DMA pricing, along with very good and fast support on live chat and phone. Couldn't be more happy with my choice.