Forex traders have to take into account different regions in the forex industry in order to ensure that they have the best chance at being successful traders. One area that is particularly important is choosing the right forex broker. Today we’re going to be looking at a popular choice broker called FP Markets to figure out whether this is a broker that we can trust or if it’s a scam. (So these FP Markets reviews will help you to select them as a forex broker)
FP Markets Review Summary
FP Markets began operations in 2005. It can provide you with award-winning ECN trading conditions, including pricing based on direct market access and narrow spreads starting from zero pips. They provide you with a wide variety of items to trade, with over 10,000 different worldwide instruments to choose from.
FP Markets adheres to the standards set out by ASIC and CySEC. The company does not practice requoting. They have its headquarters in the city of Sydney, which is in Australia. This makes me feel more confident that they are a trustworthy organization for us to work with.
Additionally, there is a range of very effective trading systems from which to choose. Trading across all markets and instruments can be done from a single account at your discretion, saving you time and effort. This is convenient for me since I can easily switch from one platform to the other from any of my devices.
FP Markets Types of Accounts Offered
Traders of all experience levels can choose from various accounts provided by FP Markets. Every account uses the ECN pricing mechanism and comes with variable leverage of up to 1:500. This is done to provide you with spreads that are as narrow as doable and trade execution times that are as fast as possible.
Since there are no fees for an inactive account, you won’t be surprised with any costs of that kind, regardless of how long you leave your account dormant. It won’t take you more than a few minutes to set up an account with FP Markets.
Following the completion of a brief online form, you will be asked to verify that you have access to the specified email address. After completing the KYC procedure, you will upload your identity papers. After having your identity validated, you will be able to fund your account.
FP Markets Trading Tools
No matter how much or how little experience you have with trading, a set of tools available may be utilized to help you with your trade. This comprises copy trading, an economic calendar, and a trading terminal. Every one of the tools comes with its own comprehensive user guide.
If you are just a casual trader, in my opinion, the platforms already have more than enough capabilities built into them for you to use. If you intend to make trading your full-time occupation and wish to engage in intricate market analysis, it is possible that these extra instruments will be of use to you. On the other hand, they may also assist you in producing trading signals without the need for you to spend all day looking at charts.
FP Markets Trading Conditions
FP Markets’ objective is to give all sorts of traders the ideal trading experience, with a primary focus on gaining knowledge of the requirements of traders. This is true regardless of the amount of money you plan to invest or how much expertise you already have.
They use the most recent technological advancements to guarantee accurate ECN pricing under all market situations. This indicates that everyone can access the most favorable trade circumstances in their respective industries.
They have been honored with a great deal of recognition for their quick execution times, excellent assistance for customers, and pleased customers. Support in many languages is offered around the clock, every day of the week. Every single one of our customers is assigned their very own personal account manager. If you are seeking a little bit of assistance along the road, then this can help.
FP Markets Offering of Investments
FP Markets provides its users access to a diverse array of trading products across many markets, all of which may be traded using a single account. The MT4 and MT5 platforms are used for trading foreign exchange, while the IRESS platform is used for trading CFDs.
Since I focus mostly on trading forex, not having access to all instruments on the MT4 platform is not a huge problem for me, even if it is something I would have loved to have. If you intend to focus solely on trading equities, you should have this fact in mind.
Equities, indices, and commodities are just some worldwide items that may be traded among the more than 10,000 available options. You can trade them using FP Market’s award-winning trading platform, which has clear pricing, fast execution rates, and competitive trading fees.
FP Markets Customer Service
The award-winning and multilingual customer service staff at FP Markets is on hand around the clock to react to any and all of your queries and requests for technical help. There is customer service available by phone, e-mail, and live chat.
Over the years, I have found them to be quite helpful, and on many occasions, they have even reached out to check in with me to see how things are progressing without being asked to do so. I really appreciate this service, and it shows that they actually care about your experience on the platform. This is a breath of fresh air, as you won’t find many brokers doing this.
FP Markets Training
The online knowledge center provided by FP Markets is comprised of a collection of instructional aids that are arranged in three distinct sections: beginner, intermediate, and advanced. These guides include information on a wide range of subjects, beginning with the fundamentals of trading and progressing through risk management, trading platforms, technical analysis, and other related topics.
A wealth of information can be found in a single location, and it is organized in a way that makes it accessible to traders of varying experience levels. This consists of video courses and eBooks that might assist you in enhancing your trading knowledge and abilities. Additionally, FP Markets offers seminars, market analyses, and daily market reports to its clients.
FP Markets Regulations
Both the Australian Securities and Investment Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC) have been regulating FP Markets. You may have peace of mind knowing that the trading broker you are using is reliable and well-respected.
They will conduct their business with honesty and transparency because of the stringent requirements that they are required to follow with as a result of the tight regulation. Because I want to ensure that my money is kept secure at all times, I only deal with regulated brokers.
The fact that some trading features are limited due to regulations is the only potential drawback that specific traders might experience. One of these is leverage, as unregulated brokers typically provide a greater amount of leverage to their clients.
FP Markets Deposits and Withdrawals
FP Markets offers users various options for depositing and withdrawing funds, some of which are available through online payment methods. The availability of digital wallets is convenient since I often move the money I want to use for trading into one of them.
When utilizing certain payment methods, you may be subject to additional costs; nevertheless, you can anticipate this to be the case with almost all brokers. Clearance of wire transfers often takes a couple of working days. You may also establish an account in various other currencies to choose from.
When you use an account denominated in your native currency, you won’t be subject to any costs associated with currency conversions. This is one advantage offered by the several different currency alternatives.
FP Markets Advantages & Disadvantages
Now that we’ve gone through everything you need to know about FP Markets, it’s time we create a short summary in the form of pros and cons to make everything more clear. Here are the advantages and disadvantages of FP Markets:
- Wide range of financial instruments for trading
- No dealing desk and no requotes
- Swap-free accounts for Muslim traders
- Copy trading and auto trading tools
- 24/7 customer support team
- Not accepting clients from certain countries
- Requires a minimum deposit of $1000 for CFD trading
- Does not provide fixed spread accounts
Is FP Markets the Right Broker for You?
Because FP Markets is a registered broker with a significant amount of expertise, they can guarantee that your trading experience will be of the best quality. They provide a wide variety of financial instruments, such as FX, stocks, and cryptocurrencies, that may be traded at competitive prices.
You will have access to platforms that have won awards and make it simple and easy to trade online. These platforms offer clear pricing and quick execution times. Regardless of the size of your initial investment or the trading technique you employ, you have the option of selecting a flexible account type and a leverage level that best suits your requirements.
Hope this FP Markets review was helpful for you and now you can make your choice undoubtedly.