FP Markets Review – What to expect from the broker

FP MarketsThe following review introduces a popular broker FP Markets. Let’s have a look at their trading conditions, offer and company’s background.

FP Markets is a CFD broker featuring Forex, stocks, indices, commodities and cryptocurrencies. FP Markets attracts traders with some of the tightest spreads in the industry, an ultra-fast execution time of under 40 milliseconds and access to the world’s leading forex trading platforms – MT4 and MT5. The company is licensed in Europe (in Cyprus) by the financial regulatory body CySEC and in Australia by the ASIC.

General Risk Warning: 47.62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Basic information about FP Markets

  • Website address: www.fpmarkets.com
  • Instruments: CFDs – Forex, stocks, commodities, stocks, indices, Cryptocurrencies
  • Minimum deposit: £/€/$ 100
  • Demo account: Yes, unlimited for free
  • Methods of deposit and withdrawal: Wire Transfer, PayPal, Skrill, Neteller, Credit and debit cards (Visa/MasterCard)

Trading platforms of the broker

FP Markets features two world’s leading trading platforms – MT4 and MT5. These two platforms can be used not only for smooth execution of your trades but with a wide range of chart types, timeframes, chart layouts, indicators and other analytical objects also for analysing the markets. Both platforms can be accessed either via a WebTrader (directly accessible from your web browser) or can be downloaded to any PC, Tablet or mobile device. MT4 as well as MT5 support using automated trading systems (expert advisors).

With the FP Markets’ average execution time of under 40 milliseconds and additional access to Virtual Private Servers located near their MT4 servers, lightning-speed trade execution is assured.

Available assets at FP Markets

FP Markets supports speculation on a little over 100 trading assets (all of which are CFDs). The company features on their trading platforms the following 5 asset categories.

  • Forex: There are over 60+ currency pairs including major, minor and exotic pairs.
  • Stocks: FP Markets offers to all traders access to 54 stocks, all of which are European and American stocks.
  • Indices: In this asset category are 13 indices including UK 100, US 500 or GER 30.
  • Commodities: Here, we can find 7 commodities, the most popular ones are Crude Oil, Gold and Silver (both traded either against the USD or Australian Dollar)
  • Cryptocurrencies: The broker currently offers access to 4 cryptocurrencies – Bitcoin, Bitcoin Cash, Ethereum, Litecoin

FP Markets fees and spreads

FP Markets is mainly compensated for its services via the difference between the ask and bid price (spread) and commissions. The applicable fees and spreads differ depending on what account you hold. While traders with the standard account pay zero commission fees, their spreads start from 1.0 pips. On the other hand, traders with the raw account have to pay the commission fee of $3 per side/lot and their spreads start from as little as 0.0 pips (applied only to forex and metals, other asset categories have zero commission fees and the same minimum and average spreads). Here is the breakdown of minimum and average FP Markets spreads for major forex pairs and other popular assets.

Standard account EUR/USD GBP/USD USD/JPY
Average spreads 1.2 pips 1.4 pips 1.2 pips
Raw account EUR/USD GBP/USD USD/JPY
Average spreads 0.1 pips 0.3 pips 0.1 pips
Minimum spreads 0.0 pips 0.0 pips 0.0 pips
Raw account & Standard account Bitcoin Crude oil UK100
Average spreads 32 0.04 1.3
Minimum spreads 2.2 0.02 0.4

*Spreads recorded on 16.03.2021 at 17:45 GMT from the official website of the broker.

FP Markets – Credibility

FP Markets group is regulated in Cyprus by the financial regulator CySEC and in Australia by the financial regulator ASIC. Moreover, the company has on the popular customer review site Trustpilot a solid rating of 4.9 out of 5 points. According to FP Markets, the broker keeps at all times funds of their clients separated from the firm’s capital to ensure they are never used to meet company expenses.

The conclusion of our FP Markets review

FP Markets has a compelling offer to both new and existing traders. The company is regulated by top financial regulators, offers access to two leading platforms – MT4 and MT5 and charges some of the tightest spreads in the industry (especially on the raw account). The broker with over 60 tradable forex pairs focuses primarily on forex trading, but there are also some other trading assets including popular cryptocurrencies, stocks or metals. Should you have any inquiries and want to resolve them immediately, you can reach out to the broker via live chat that gets you connected to a multilingual customer support team that operates 24/5 (or you can request a call back).

With all of this being said, FP Markets is a broker to keep an eye on when searching for a classy, reliable trading partner.

47.62% of retail CFD accounts lose money

 

Your review can make a difference to other traders, please leave a comment if you have any personal experience with FP Markets.

Michael

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