FP Markets Review 2023 the Best Forex & CFD Trading Provider
FP Markets is an Australian broker, which has been providing brokerage service since 2005. Although it is based in Australia, provide service internationally using the Meta Trader platforms. You may find hundreds of FP Markets review on the internet, but which one should you follow or take as an authentic one?
So, we have conducted research to find out all the questions on FP Markets and come up with this detailed FP Markets review.
You will get to know everything in between account opening to withdraw the money.
FP Markets Regulation
Australian Securities and Investments Commission (ASIC) works for the FP Markets regulation, which operates under the parent company First Prudential Markets PTY LTD. Besides, it also has membership from the Cyprus Securities and Exchange Commission (CySEC), which oversees the international operation of FP Markets.
FP Markets Review: Is FP Markets Secured?
Both AISC and CYSEC regulatory bodies ensure the security of clients’ funds. Besides, they also provide segregated bank accounts for each trader so that your funds remain secured. The finding from FP Markets review is that they offer negative balance protection; however, it is available for the CYSEC brokerage only. They are transparent about their operations along with the proper dispute resolution.
FP Markets Account Types
FP Markets account types offer two types of accounts, Standard and Raw, which can be used through the Meta Trader 4 (MT4) forex trading platforms. Besides, the Islamic accounts are there too for the Muslims and others who don’t want to take any benefits of interest and pay any interest.
FP Markets Commissions and Spreads
The Standard account is commission-free while the Raw account is commission based. However, the minimum deposit of $100 is the same for both accounts. On the other hand, there are significant differences in FP Markets commission and spreads on the two accounts.
In the standard account, the spreads start from 1.0 pips while it is 0.0 in the raw account. The commission structure for a raw account is USD $3 per 100,000, but it is zero for the standard account. However, both accounts offer 50+ forex pairs along with indices, commodities, and metals.
After knowing the account types, you will be interested in opening an account. The following part will explain the account openings.
FP Markets Account Opening
Opening an FP Markets account should take less than 3 minutes. However, opening an account is easy. You will just have to click on the register button and then follow the instructions. You will need to provide your personal information with the phone number while filling the FP Markets account opening form.
The demo account opening option is also there too. Before starting the live account, you may open a demo FP account to see how it works, and then you can make the final decision.
FP Markets Platforms
While researching for FP Markets review, we have found that they rely on the MT4 platform that is a top platform used by a significant number of traders and brokers. It makes any broker lucrative so as the FP markets. It offers 12 different addons, with multiple trading analysis features and technical indicators.
Additionally, FP Markets platforms also offer the MetaTrader 5 platform, which is an advanced version of MT4. However, both of them are multi-asset trading platforms that offer 59 technical indicators, real-time quote options, 50 drawing tools, and access to the 10,000+ assets.
MetaTrader 4 and 5 FP Markets platforms allow web trading, mobile trading, and desktop application. So, you can trade via any browser from any device and also can trade with mobile apps from anywhere. However, you will need to install the desktop software to your Mac or Windows PC if you want to trade through the desktop app.
FP Markets Trading Fees
Usually, the best forex broker earns money by applying fees to the traders. However, FP Markets trading fees include the revenues from both spreads and commissions. It combines standard and raw accounts in a way that fees are inevitable.
The standard account doesn’t charge any commission at all, hence FP Markets trading fees incurred from pips start from 1.0 while the raw account charges commission. On the other hand, raw accounts charge commissions for different FX pairs and Metals but don’t charge commissions for commodities, and indices. Instead, they offer different spreads for these three instruments.
However, FP Markets apply swap rates on overnight positions, and they are totally transparent about them.
FP Markets Deposit and Withdrawal Options
From our FP Markets review, we have got a clear view that it is connected to different transaction options such as wire transfer, Skrill, Debit/ Credit cards, Neteller, Fasapay, Ngan Luong, Paytrust88 also broker to broker transfer. However, they don’t charge any fees for deposits while the deposit time is faster. But bank wires may need a few days to get available.
On the other hand, you have to pay charges for the withdrawals except for the cards. As per AML guidelines, only the account holder can request the withdrawal. Both FP Markets deposit and withdrawal options consist of the same transaction options.
FP Markets Additional Features
FP Markets is almost automated while it also provides manual trading for some users via Auto chartist, which is considered as FP Market’s additional features. It is available on the MT4/ MT5 platform, and FP Markets traders will have access to it, which delivers more than 1000 trading ideas every month to the manual traders.
Besides, whoever wishes to take the automated trading feature can access the VPS for the fastest trading operation. Additionally, it also has the retail account management option via MAM/PAMM.
FP Markets Review: Trading Speed
Usually, trading speed depends on the broker’s server and your internet speed. However, FP Markets is the best forex broker in providing different speeds according to the account types. For example, the standard account offers lightning-fast speed execution via a fiber-optic connection. On the other hand, the raw account serves a fast execution speed through dedicated fiber-optic links to NY4.
FP Markets Education and Research
FP Markets consists of some in-house research experts who conduct their research every day about trading options. Based on that, FP Markets education and research team send the recommendation to the traders on multiple assets as charts or written contents. Besides, they also provide video tutorials, eBooks for the new trader and expert traders.
The step by step guide alongside 12 tutorials and five valuable eBooks on trading is really helpful for all kinds of traders.
FP Markets Customer Service Experience
The top-notch customer service from FP Markets is available 24/5 via phone call, live chat, or email. The best customer service function from FP Market is the callback option, which makes them unique from the competitors.
While we are writing this FP Markets review, they neither offer any bonuses nor provide any special promotions. However, you will not see any bonuses or promotion opportunities in the near future, as these are prohibited by the regulators.
From our research on FP Market forex broker reviews, we must say it is a great CFD broker as it has membership from two top tier regulations in the world. The only downside of this broker is the high CFD fees and limited product portfolio. Other than that, FP Markets is eligible to be on the top forex brokers list.
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