Our detailed FP Markets review provides valuable insights you may wish to consider before trading with this forex broker. Enhancing your knowledge and understanding can help you make better-informed trading decisions and invest with greater confidence.
This broker is currently unverified. Please be wary of investing with untrustworthy brokers who may not meet important criteria or have adequate safety measures in place.
FX Trust Score Index - FP Markets
FP Markets gained an overall score of 51% across our five different ratings criteria.
FX Trust Score Index Ratings
How the Trust Index worksFP Markets Pros and Cons
- No inactivity fees
- 24/7 customer support
- Good choice of trading platforms
- Limited product portfolio
- No swap-free (Islamic) accounts
- Limited crypto markets
- Not available to US residents
- Not available to UK residents
Trade with a Trusted Broker
FP Markets at a Glance
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Overview
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Client Support
| Year Established | 2005 |
| Licences Held | ASIC (Australia), CySEC (Cyprus), FSA (Seychelles) |
| Demo Account Available | Yes |
| Base Currencies | EUR, GBP, USD, AUD, CAD, SGD, HKD, JPY, NZD, CHF, MXN, BRL, ZAR |
| Promotions | Yes |
| Account Opening Time | Up to one business day |
| Withdrawal Fee | None |
| Inactivity Fee | None |
| Minimum Deposit | $50 |
| Minimum Position Size | Variable, depending on the asset |
| Maximum Leverage | Up to 1:500 |
| Spread Type (Fixed/Variable) | Variable |
| Average Spread (based on EUR/USD) | 1.1 pips |
| Available Assets | Forex, Shares, Metals, Indices, Commodities, Cryptocurrencies |
| Number of Currency Pairs | 70+ |
| Account Types | Standard, Raw, Pro, Iress Retail, Iress Wholesale/Professional |
| Mobile Trading | Yes |
| 24/7 or 24/5 Trading | 24/5 (24/7 for Cryptocurrencies) |
| Hedging Allowed | Yes |
| Scalping Allowed | Yes |
| Swap Free Account | No |
| Languages | 20 |
| Affiliate Program | Yes |
| Free Educational Resources | Yes |
| Daily Technical Analysis | Yes |
| Platforms | WebTrader, Mobile App, MetaTrader 4 (MT4), MetaTrader 5 (MT5), Iress, Mottai |
| Payment Methods | |
| Deposit methods | Credit/Debit Cards, eWallets, Bank Transfer, and more |
| Withdrawal Methods | Credit/Debit Cards, Bank Transfer, PayPal, eWallets, and more |
| Withdrawal times | From instant up to 8 business days |
| Withdrawal limits | None |
| Currencies | Multiple currencies supported, including USD, EUR, GBP, and more |
| Live Chat | 24/7 Chatbot available |
| Contact Info | Phone and Email support available |
| Social Media Channels | X (Twitter), Facebook, YouTube, Instagram, LinkedIn, TikTok, Telegram |
Is FP Markets a Trusted Forex Broker?
In this review, we will be focusing on the FP Markets broker and evaluating its trustworthiness through examination of a number of factors, including fund safety, fees, trading platforms, customer support and more. FP Markets has been in operation for the past couple of decades, having experienced an upward curve in terms of popularity over the years. Be mindful of all the important details about FP Markets before you decide to open a trading account with the broker.
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Introduction to FP Markets: A Brief Overview
FP Markets, also known as First Prudential Markets, is a well-known broker offering forex and CFD trading services to clients in multiple regions across the world. First established in 2005, FP Markets has been a regulated broker since 2018, forming part of a group of companies that has collected several industry awards in recent years.
Traders with FP Markets can expect a good choice of trading platforms, zero fees on inactive accounts and a multilingual customer support service which operates 24/7. However, certain premium features, like access to the powerful IRESS trading accounts with their advanced trading tools, are not available to traders in specific regions.
Is FP Markets safe?
Licensing and Regulation
FP Markets is a multi-regulated broker which holds licences from top-tier regulatory bodies such as ASIC in Australia, CySEC in Cyprus and the FSA from the Seychelles. Being subject to such levels of compliance offers a degree of reassurance to traders looking for credibility and reliability when comparing brokers to open an account with. Despite this, traders should conduct thorough research into FP Markets to flag up any historical problems that may show up on the broker’s record.
Security of Funds & Protection
FP Markets states that retail clients’ funds are always kept separate from the broker’s capital and held in leading banks. It is also a registered member of the Investor Compensation Fund (ICF) from CySEC, meaning that the funds of retail clients are covered in the event that the broker is unable to meet its financial obligations. Aside from FP Markets’ CySEC precautions, it is advisable to double check the provisions in place under its ASIC and FCA licences.
The FP Markets Trading Platforms
There is a good overall selection of trading platforms on offer to FP Markets’ clients, but the exact number differs depending on the region. The globally popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms are available in all regions, alongside WebTrader and cTrader, while the TradingView platform is also offered. However, it is only traders under the ASIC jurisdiction who get access to the full Iress and Mottai platforms.
FP Markets’ Trading Assets
In terms of CFD trading, clients with FP Markets can trade more than 60 currency pairs, around 650 stocks, nine major global indices and six non-major global indices. As well as CFDs on commodities and metals, the broker offers cryptocurrency CFDs on Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin and other altcoins, along with more than 200 ETF CFDs.
Trading Conditions at FP Markets
Spreads & Commissions
FP Markets lists its range of fees with full transparency, with spreads starting from 1.1 pips on the Standard MT4 and MT5 accounts and from 0.0 pips on the Raw MT4 and MT5 accounts. Meanwhile, there is zero commission charged on commodities, indices, shares and cryptocurrencies across all account types, as they are built into the spread. On the Raw accounts, forex and metals are commission-free, while account currencies featuring USD and EUR are charged at $6 and €5.5 per round trip, respectively.
Leverage
Selected Pro account holders can get leverage up to 1:500 on forex majors and minors, subject to strict criteria.. In 2021, ASIC issued a product intervention order to impose conditions on the issue and distribution of CFDs. Therefore, the maximum leverage FP Markets can offer retail clients in the region is 1:30 on forex majors, 1:20 on forex minors, major indices and gold, 1:10 on commodities and minor indices, 1:5 on shares and 1:2 on cryptocurrencies.
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FP Markets’ Customer Support
FP Markets has good customer support options, with clients able to contact a member of its support team 24/7 via phone or email, while the broker also operates a 24/7 chatbot service. Generally speaking, all methods of communication are clearly set out on the broker’s website so that traders can navigate to the best point of contact that will quickly resolve their case.
The FXTS Verdict: Is FP Markets a Trusted Broker?
In conclusion, FP Markets is a well-known player in the industry, catering to traders worldwide over many years. It is licensed with multiple regulators such as CySEC, ASIC and the FCA, although the broker has only been registered as a licensed entity since 2018, despite being founded in 2005.
Traders with FP Markets can expect a wide choice of trading platforms and reliable round-the-clock customer support. However, the broker’s overall product offering does not match some of its nearest competitors and the lack of swap-free accounts for Islamic traders could come as a disappointment to some.
