FP Markets Review

In the fast-evolving world of forex and CFD trading, choosing the right broker can significantly impact your trading success. FP Markets, an established name in the industry since 2005, claims to offer an unparalleled trading experience with tight spreads, advanced trading platforms, and comprehensive customer support. In this review, we will delve deep into the various aspects of FP Markets, evaluating their offerings, platform features, and overall reliability to help you determine if this broker aligns with your trading goals.

Overview of FP Markets

FP Markets is a globally recognized forex and CFD broker headquartered in Australia, regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). The broker has built a solid reputation over the years, primarily due to its focus on providing low spreads, fast execution, and a wide range of trading instruments. With over 10,000 trading instruments, including forex, indices, commodities, shares, metals, and cryptocurrencies, FP Markets offers traders extensive opportunities to diversify their portfolios.

Trading Conditions and Spreads

One of the standout features of FP Markets is its competitive trading conditions, particularly the tight spreads offered across various instruments. For instance, major currency pairs like EUR/USD and GBP/USD have spreads as low as 0.09 pips and 0.00 pips, respectively. This low-cost trading environment is particularly advantageous for high-frequency traders and scalpers who rely on minimal spreads to optimize their trading strategies.

FP Markets sources its liquidity from top-tier providers, ensuring that traders benefit from consistently low spreads and deep market liquidity. The broker’s use of the NY4 server facility in New York further enhances execution speed, reducing slippage and providing traders with a seamless trading experience.

Trading Platforms

FP Markets supports multiple trading platforms, catering to different types of traders. The primary platforms offered are MetaTrader 4 (MT4) and MetaTrader 5 (MT5), both of which are widely regarded as industry standards. These platforms offer a range of advanced features, including customizable charts, a vast array of technical indicators, and support for automated trading through Expert Advisors (EAs).

In addition to MT4 and MT5, FP Markets also offers WebTrader, a browser-based platform that provides the flexibility to trade without downloading any software. The mobile trading apps for iOS and Android devices ensure that traders can access their accounts and trade on the go, making it convenient to monitor and manage positions from anywhere.

For traders who require enhanced performance, FP Markets provides VPS (Virtual Private Server) solutions, which are particularly beneficial for those utilizing EAs and automated trading strategies. The VPS service ensures minimal downtime and faster execution speeds, which are critical for high-frequency trading.

Range of Trading Instruments

FP Markets boasts an extensive range of trading instruments, allowing traders to access a diverse set of markets from a single account. The available asset classes include:

• Forex: With over 60 currency pairs, FP Markets offers one of the most comprehensive forex trading experiences. Traders can access major, minor, and exotic pairs with tight spreads and deep liquidity.
• Shares: FP Markets provides CFD trading on over 650 global stocks, covering major exchanges like the NYSE, NASDAQ, ASX, and LSE. This variety allows traders to speculate on the price movements of some of the world’s most prominent companies.
• Indices: The broker offers CFDs on 15 global indices, including major benchmarks like the S&P 500, NASDAQ 100, and FTSE 100. These instruments allow traders to gain exposure to the broader market movements without having to trade individual stocks.
• Commodities: FP Markets enables trading on a range of commodity CFDs, including precious metals like gold and silver, as well as energy products like crude oil and natural gas.
• Cryptocurrencies: FP Markets provides access to the burgeoning cryptocurrency market with CFDs on popular digital assets like Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin. This allows traders to speculate on the volatile price movements of cryptocurrencies without actually owning the underlying assets.
• ETFs: The broker also offers CFDs on over 200 Exchange Traded Funds (ETFs), providing traders with exposure to various sectors, industries, and asset classes in a single trade.

Customer Support and Education

FP Markets places a strong emphasis on customer service, offering 24/7 multilingual support. This round-the-clock availability ensures that traders can resolve issues or obtain assistance whenever needed. The broker provides multiple channels for support, including live chat, email, and phone, making it easy for clients to get in touch.

In addition to customer support, FP Markets offers a range of educational resources designed to help traders enhance their skills and knowledge. These resources include webinars, video tutorials, eBooks, and a comprehensive trading academy. The educational content is suitable for traders of all levels, from beginners to advanced, and covers a wide array of topics, from basic trading concepts to complex trading strategies.

Account Types and Funding

FP Markets offers a variety of account types to suit different trading styles and experience levels. The two main account types are the Standard Account and the Raw Account. The Standard Account is commission-free, with slightly higher spreads, making it suitable for casual traders or beginners. The Raw Account, on the other hand, offers lower spreads starting from 0.0 pips but charges a commission per trade, making it ideal for professional traders and scalpers who require the tightest spreads available.

Funding your FP Markets account is straightforward, with a wide range of fee-free options available. These include credit/debit cards, bank transfers, and popular e-wallets like PayPal, Neteller, and Skrill. The broker also supports local payment methods for certain regions, providing additional convenience for international clients. Importantly, FP Markets offers negative balance protection, ensuring that traders cannot lose more than their initial deposit, which adds an extra layer of security to their trading experience.

Regulation and Security

As a regulated broker under ASIC and CySEC, FP Markets adheres to strict regulatory standards, ensuring that clients’ funds are handled with the utmost care. The broker maintains segregated client accounts, meaning that clients’ funds are kept separate from the company’s operating funds. This segregation provides an additional level of protection in the unlikely event of the broker’s insolvency.

FP Markets also uses advanced encryption technology to secure clients’ personal and financial information, further enhancing the safety and security of the trading environment. The broker’s long-standing reputation in the industry, coupled with its regulatory status, makes it a trustworthy choice for traders seeking a reliable and secure trading partner.

Strengths of FP Markets

FP Markets has several strengths that make it an attractive choice for traders:

1. Competitive Spreads: The tight spreads, especially on major currency pairs, provide a cost-effective trading environment, particularly for high-frequency traders and scalpers.
2. Advanced Trading Platforms: The availability of MT4, MT5, WebTrader, and mobile apps ensures that traders have access to powerful tools and flexible trading options.
3. Wide Range of Instruments: The extensive range of tradable assets, including forex, stocks, indices, commodities, cryptocurrencies, and ETFs, allows for significant portfolio diversification.
4. Robust Customer Support: The 24/7 multilingual customer support ensures that traders can get assistance whenever needed, enhancing the overall trading experience.
5. Regulated and Secure: Being regulated by reputable authorities like ASIC and CySEC, coupled with the use of segregated accounts and advanced encryption, ensures a secure trading environment.

Potential Areas for Improvement

While FP Markets excels in many areas, there are a few aspects that could be improved:

1. Commissions on Raw Accounts: Although the Raw Account offers tighter spreads, the commission fees might be a consideration for traders with smaller account balances.
2. Limited Non-Forex Instruments: While FP Markets offers a wide range of instruments, some traders may find the selection of non-forex CFDs, particularly in commodities and cryptocurrencies, somewhat limited compared to specialized brokers.
3. Lack of Social Trading: Unlike some of its competitors, FP Markets does not currently offer social or copy trading features, which could be a drawback for traders who prefer a more hands-off approach.

Conclusion

FP Markets stands out as a reliable and well-rounded broker, offering a comprehensive suite of trading instruments, competitive spreads, and advanced platforms suitable for traders of all experience levels. The broker’s commitment to providing a secure trading environment, coupled with its extensive customer support and educational resources, makes it a strong contender in the forex and CFD market.

Whether you are a seasoned trader looking for tight spreads and fast execution or a beginner seeking a regulated broker with solid educational tools, FP Markets has the potential to meet your needs. While there are a few areas where the broker could expand its offerings, particularly in terms of social trading and non-forex instruments, its overall performance and reputation make it a solid choice for anyone looking to trade forex and CFDs.