fpmarkets Ratings & In-Depth Review

Overview: fpmarkets has been in operations since 2005. fpmarkets which stands for first prudential markets is an established online forex and CFD broker, regulated and authorized by CySEC, ASIC the Australian Investments and Securities Commission in Australia. Potential traders get access to many markets such as the Forex, indices, Metals futures, equity, crypto and commodities market under the brokerages single platform. The company has its head office in Sydney, Australia. Traders will enjoy commission-free trade on standard accounts, tight spreads, fast execution and flexible leverage options. Their website is also user friendly with easy to find information.

Account: FP Markets offers a Standard and an ECN Raw account for trading Forex. The standard account is a commission-free trading account with spreads starting from 1.0 pip, while the Raw ECN account carries a commission of $3 USD per 100,000 and offers tighter spreads, as low as 0.0 pips. The brokerage also provides a free demo account on its MT4 platform. However, it should be noted that fpmarkets does not accept US traders.

Minimum deposit: AUD/USD $100 for a standard account; AUD $100 for ECN Raw accounts. $100 AUD or equivalent. For IRESS trading accounts the minimum deposit is $1000-$50000.

Maximum leverage: 1:500

Features: The award-winning forex broker offers over 10,000 trading instruments including 60+ currency pairs for trade. There is no price manipulation, no requotes and no dealing desk. Along with the popular MT4 trading platform, the broker also offers IRESS platform that provides multi-product execution and automatic order options for professional traders. Trade alerts, live news, and pricing and charting tools can be accessed through their website. Accounts can be traded on the web or desktop as well as mobile platforms including the broker’s mobile trading application.

Education: FP Markets has built comprehensive courses for beginner, intermediate and advanced traders through video tutorials and Ebooks in the education section of its website.

Deposits/Withdrawals: Deposit options such as credit cards, e-wallets, and bank wire transfer are available with transaction charges varying from 1.75 – 4%. The same funding options are also available for withdrawals with a processing time of 2-5 days.

Customer service: Customer support can be reached through email, phone, live chat and social media on all trading days. They pride themselves as having award winning multilingual customer support.