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FP Markets Review 2024

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3.4/5

✔Low minimum deposit requirement
✔Hosts numerous learning and market analysis tools

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Risk Warning

Derivative products are highly leveraged, carry a high level of risk and may not be appropriate for all investors.

    Claire Maumo is our financial writer and leads our editorial team in delivering engaging, informative, and easy-to-understand content. With a background in journalism and finance and a passion for financial education, she ensures our content is well-received by every trader.

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    FP Markets was established in 2005 with a focus on creating a superior forex and CFD trading platform for global traders. So far, the company has achieved this dream, which is evident from the multiple awards it has earned. Moreover, many users find it reliable and secure when managing their trades. FP Markets has a fast trade execution speed, reliable support service, quality support service, and more. 

    We have prepared this ultimate FP Markets review to break down all the features we discovered at this brokerage firm. We are experts in the financial landscape. Therefore, we know exactly what to look for and explore before recommending any broker to our readers. 

    In This Guide

    Our Opinion about FP Markets

    Creating trading accounts at FP Markets was a breeze, and it took us minutes to complete the process. We did not incur any charge for setting up these accounts, and its minimum deposit requirement is also low (from $50). Plus, FP Markets offers free deposits across multiple payment methods like credit/debit cards, e-wallets, and bank transfers. 

    Besides the many amazing features that made the broker FP Markets stand out, we discovered a few drawbacks. For instance, while it features thousands of assets, you only trade them as CFDs. Additionally, we noticed that some withdrawal options are not free. 

    FP Markets

    ✔Low minimum deposit requirement
    ✔Hosts numerous learning and market analysis tools

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    Pros & Cons

    Pros

    • Low minimum deposit requirement for most regions
    • Free deposits across multiple payment methods
    • Hosts numerous learning and market analysis tools
    • Multiple trading platforms to choose from, including WebTrader, cTrader, TradingView, MT4, and MT5
    • Offers social and copy trading
    • Over 10,000 securities to explore on multiple trading accounts, including Standard, Raw, and Iress
    • A reliable and responsive support service via phone, email, and live chat
    • Low forex and CFD trading charges

    Cons

    • The featured securities are available to trade as CFDs
    • Withdrawal fee from 1% apply
    • Its Iress trading account has a high minimum deposit requirement of $1,000

    Fees

    FPMarkets Fees

    We reviewed the applicable FP Markets fees, and like that the broker has a transparent structure. This allows users to efficiently plan for their activities without worrying about incurring additional costs. There are no hidden charges and no price manipulation with this broker.

    Trading and Non-Trading Charges Details
    Account Opening $0
    Management Fee $0
    Minimum Deposit Requirement From $50, depending on your jurisdiction
    Commission From 0%
    Spreads From 0.0 pips on major currency pairs
    Deposits and Withdrawals Free deposits. Withdrawal fees apply based on the payment method used
    Inactivity $0
    Overnight Funding Varies based on global market conditions
    Copy Trading Free

    Available Assets

    FPMarkets Product Offerings

    There are more than 10,000 CFD instruments at FP Markets across various asset classes. These include forex, shares, commodities, cryptos, and more. The best element about exploring these securities is that you have access to multiple platforms to choose from. Whether you prefer the MT4, MT5, cTrader, or TradingView, FP Markets has it all for you. You are guaranteed quality resources to maximize your potential.

    When it comes to leverage applications, FP Markets has favorable limits for all types of traders. Retail traders can get up to 30:1, while professionals get 500:1. Moreover, we discovered multiple account types to suit every trader’s needs.

    Here is a breakdown of the number of assets you will trade at FP Markets Standard, Raw, and Iress accounts.

    Asset Class Number Offered
    Forex 70+ currency pairs
    Shares 10000+
    Indices 19+
    Commodities 12+
    Cryptocurrencies 12+
    ETFs 46+
    Bonds 2+
    Futures 7+

    Disclaimer: CFD trading is risky, especially with the application of leverage attached. While many traders earn good profits from it, it can leave you with massive losses should a trade work out against you. Therefore, start by understanding CFD trading and all the risks involved before venturing into such securities. Remember, over 76% of retail traders lose money in CFD trading.

    Security

    FP Markets Security

    We discovered that FP Markets has employed robust security measures to ensure its clients have the best trading environment. The broker is highly encrypted on both its desktop and mobile trading platforms. While there is no two-factor authentication login procedure, you can still secure your account with a passcode or biometrics ID. 

    Additionally, FP Markets operates under the oversight of multiple global authorities. This guarantees a safe environment as your funds are segregated in tier-one bank accounts only accessible to you. Moreover, you are guaranteed a conducive environment free from imposters and money laundering activities. You will also be protected under its investor protection program. However, the protection amount varies based on your jurisdiction. Note that some regions are not protected under this program. 

    That being said, here are the top global financial authorities overseeing FP Markets activities. 

    Financial RegulatorLegal Entity
    Financial Services Authority (Seychelles)First Prudential Markets Limited
    Financial Services Commission (Mauritius)FP Markets Ltd
    Financial Sector Conduct Authority (South Africa)FP Markets (Pty) Ltd
    Financial Services Authority (St. Vincent and the Grenadines)FP Markets LLC
    Cyprus Securities and Exchange Commission (CySEC) First Prudential Markets Ltd 
    Australian Securities and Investments Commission (ASIC)First Prudential Markets Pty Ltd

    Conclusion

    Our FP Markets review above shares a glimpse of what it offers once you commit to it. Before you do, we encourage you to visit FP Markets’ website and test it using its virtually funded demo account. With unique features like automated and social trading, we believe you will definitely enjoy your experience. 

    However, note that success in trading still requires a strategic approach. Continuous learning must also be employed so you can stay abreast with any new market developments. Most importantly, apply risk management controls to avoid incurring massive losses. Fortunately, FP Markets offers all the resources you need to trade securely and efficiently. You simply need to figure out whether it aligns with your trading requirements. 

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    Claire Maumo

    Claire Maumo has experience in investment banking, strategic consultancy, and journalism. She has a Bachelor’s degree in Business Management and a Master’s in finance. She has a knack for making complex concepts easy to understand. Her primary focus is on crypto, blockchain, and financial instruments. Follow her for expert insights on trading and investment.

    BrokerRaters Rating:

    ✔Low minimum deposit requirement
    ✔Hosts numerous learning and market analysis tools

    Visit site
    Risk Warning

    Derivative products are highly leveraged, carry a high level of risk and may not be appropriate for all investors.

    • 5icon star Customer Support
    • 5icon star Commissions & Fees
    • 4icon star Platforms & Tools
    • 4icon star Educational Resources
    4.5 Overall Rating

    One Reply to “FP Markets Review 2024”

    • Mathias says:

      Would you recommend this provider?

      Yes

      Fees

      Account opening

      Customer service

      Deposits & Withdrawals

      I've been trading with FP Markets for some time now, and I really like the variety of platforms and tools they offer. Their educational resources have helped me improve, and while CFD trading isn't for everyone, it’s been a great fit for me.

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