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Discover FP Markets

FP Markets, standing for First Prudential Markets, has been a notable player in the world of online Forex and CFD trading. Established in 2005, it has garnered attention for its client-focused services and comprehensive trading solutions. This review on Forextabs.com aims to shed light on the key aspects of FP Markets and what makes it a broker worth considering.

Is FP Markets A Safe Forex Broker?

FP Markets, a recognized name in Forex trading, upholds a strong regulatory profile. While it is not a publicly traded company nor operates a bank, it is authorized by two Tier-1 regulators – a mark of high trust. This includes authorization from the Australian Securities & Investment Commission (ASIC) and compliance with the European Union’s MiFID passporting system, ensuring stringent adherence to financial standards and trader security.

Additionally, FP Markets is regulated by one Tier-2 authority, emphasizing its reliability. However, it’s noteworthy that it is also regulated by two Tier-4 regulators, which are considered higher risk. This regulatory structure underscores FP Markets’ commitment to offering a secure and transparent trading environment.

FP Markets tradable instruments

FP Markets offers a comprehensive range of trading instruments for its clients. Here’s a list of the most commonly traded instruments available on FP Markets:

  1. Forex Instruments: The forex exchange market is available 24/5 on FP Markets, providing traders with opportunities to trade major currency pairs like EUR/USD, GBP/USD, AUD/USD, USD/JPY, and USD/CHF, as well as exotic currency pairs.
  2. Futures: FP Markets offers futures trading, allowing traders to buy or sell financial instruments at a predetermined future date and price. This includes index futures and other commodity futures.
  3. Index-based ETFs: Exchange-traded funds (ETFs) are available for trading on FP Markets. These ETFs cover various sectors and indices, including common commodities and major global indices like the S&P 500.
  4. Cryptocurrency CFDs: FP Markets provides traders with the option to trade cryptocurrency Contracts for Difference (CFDs), allowing speculation on the price movements of cryptocurrencies without owning the underlying asset.

Types of Account offered by FP Markets

FP Markets offers a range of account types tailored to suit different trading needs and preferences. The account types available include:

  1. Standard Account (MT4/MT5):
    • Spreads from 1.0 pips.
    • No commission.
    • Minimum deposit of $100 AUD or equivalent.
    • Maximum leverage of 30:1.
  2. Raw Account (MT4/MT5):
    • Spreads from 0.0 pips.
    • Commission of $3.0 (each way) per lot in USD.
    • Minimum deposit of $100 AUD or equivalent.
    • Maximum leverage of 30:1.

For CFD trading, FP Markets offers the IRESS account platform, which is divided into:

  1. IRESS Account Retail:
    • Minimum balance of $1,000.
    • Brokerage rate for ASX: $6 minimum, then 0.06%.
    • Financing rate: FP Markets base rate +3.0%.
    • IRESS Trader platform fee: $60 incl. GST, waived if generating $150 in commission per month.
    • ASX live data fee: $25 incl. GST, waived if generating $50 in commission per month.
  2. IRESS Account Wholesale/Professional:
    • Minimum balance of $1,000.
    • Brokerage rate for ASX: 0.05%, no minimum.
    • Financing rate: FP Markets base rate +2.0%.
    • IRESS Trader platform fee: $60 incl. GST, waived if generating $150 in commission per month.
    • ASX live data fee: $25 incl. GST, waived if generating $50 in commission per month.

Each account type is designed to cater to different trading styles, offering a range of options from high-volume trading to more conservative approaches.

Pros and Cons

Pros:

  • Regulated by top-tier authorities.
  • Access to both MT4 and MT5 platforms.
  • Wide range of trading instruments.
  • Competitive pricing and account options.

Cons:

  • Platform options might be overwhelming for absolute beginners.
  • Certain products may not be available in specific regions due to regulatory restrictions.

Assessing FP Markets’ Position in the Trading Arena

FP Markets emerges as a robust and reliable broker in the Forex and CFD trading space, distinguished by its regulatory compliance, diverse trading platforms, and wide range of instruments. The broker’s commitment to customer service and trader education further enhances its appeal to a broad spectrum of traders. As with any trading decision, it’s crucial to align your choice with your trading needs and goals. For more detailed information and comparisons with other top brokers, visit Forextabs.com.

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