FP Markets is a major forex broker and has received a lot of praises from Intelligence Commissioner users. They have established themselves as an industry leader.
FP Markets distinguishes itself as a reliable broker with competitive pricing, a diverse range of trading instruments, and robust trading platforms. Its regulatory compliance with ASIC and CySEC strengthens its credibility and offers a safe trading environment for clients. The broker’s low-cost trading alternatives, diversified platforms, wide asset selection, and high leverage options make it an appealing choice for FX and CFD traders.
We suggest working with a trustworthy broker with specialized staff, latest tech and most importantly, customer-centric trading conditions. After reviewing 1000+ brokers, we rank the following company as the best:
Key Takeaways
Is FP Markets Regulated? Do They Have a License?
FP Markets, founded in 2005 and headquartered in Sydney, Australia, has established itself as a leading online forex and CFD broker. It has built a reputation over the years for its competitive pricing, diversified trading platforms, and diverse portfolio of tradable assets. This article examines the primary benefits of FP Markets, its legal framework, and the qualities that make it a popular choice among traders worldwide.
FP Markets is overseen by numerous recognized regulatory bodies, including the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). These regulatory agencies are known for their severe regulations and rigorous oversight, which boosts FP Markets’ reputation in the trading community. By adhering to such rules, FP Markets provides a secure and transparent trading environment, which is critical for establishing client trust.
ASIC is one of the world’s most regarded financial regulatory authorities. It imposes strong criteria on brokers, ensuring that they act with honesty and openness. As an ASIC-regulated broker, FP Markets is expected to follow these guidelines, providing clients with piece of mind that their assets are protected.
CySEC is another important regulatory organization that oversees financial services in Cyprus and the European Economic Area. FP Markets can now provide its services to a wider audience, including European traders, thanks to CySEC regulation. This regulation strengthens FP Markets’ reputation as a trustworthy broker.
For both new and seasoned traders, FP Markets provide numerous benefits. These include low-cost trading, a variety of trading platforms, a diverse range of tradable assets, high leverage choices, negative balance protection, prompt customer service, instructional materials, and no deposit or withdrawal fees.
Checking the regulatory status of a forex broker is essential. However, there are multiple tiers of regulation as well.
Some popular regulatory authorities include FCA and CFTC.
Whether its FP Markets or another forex broker, it’s best to check if they are regulated by one (or more) of these authorities:
Commodity Futures Trading Commission (CFTC) – United States:
The CFTC is an independent agency of the U.S. government that regulates the futures and options markets. It also oversees the forex market, particularly ensuring the integrity of transactions and protection against fraud and manipulation.
National Futures Association (NFA) – United States:
The NFA is a self-regulatory organization for the U.S. derivatives industry, including on-exchange traded futures, retail off-exchange foreign currency, and OTC derivatives. It ensures that every firm or individual conducting futures and forex business with the public must be registered and must comply with strict standards.
Financial Conduct Authority (FCA) – United Kingdom:
The FCA is a financial regulatory body in the UK that oversees financial markets, including forex. It ensures that financial markets operate with integrity and that consumers are protected.
Australian Securities and Investments Commission (ASIC) – Australia:
ASIC is an independent Australian government body that acts as Australia’s corporate regulator. It oversees financial markets and services, ensuring that financial markets are fair and transparent, and it also regulates forex brokers.
Financial Services Authority (FSA) – Japan:
The FSA in Japan oversees banking, securities, and exchange, as well as insurance sectors to maintain the stability of Japan’s financial system. It regulates forex trading and brokers to ensure the protection of investors.
Swiss Financial Market Supervisory Authority (FINMA) – Switzerland:
FINMA is responsible for financial regulation in Switzerland. It oversees banks, insurance companies, and financial markets, including forex brokers, ensuring they operate within a secure and transparent framework.
Cyprus Securities and Exchange Commission (CySEC) – Cyprus:
CySEC is the financial regulatory authority of Cyprus, which is a popular jurisdiction for forex brokers. It supervises and controls the operation of the Cyprus Stock Exchange and regulates forex brokers to ensure compliance with international standards.
Investment Industry Regulatory Organization of Canada (IIROC) – Canada:
IIROC oversees all investment dealers and trading activities on debt and equity marketplaces in Canada, including the forex market, ensuring that firms adhere to high standards of conduct.
Monetary Authority of Singapore (MAS) – Singapore:
MAS is the central bank and financial regulatory authority of Singapore. It oversees various financial institutions and markets, including forex, ensuring they are well-regulated and stable.
Financial Sector Conduct Authority (FSCA) – South Africa:
The FSCA is responsible for market conduct regulation and supervision of financial institutions in South Africa, including forex brokers, to ensure fair treatment of customers and the integrity of financial markets.
These regulatory bodies play a crucial role in maintaining the integrity of the forex market by enforcing rules and regulations, ensuring transparency, and protecting traders and investors from fraudulent activities.
Checking the regulatory status of brokers like FP Markets is quite beneficial. It inspires trust in the brand.
Trading Conditions and Deposit/Withdrawal Methods at FP Markets
One of FP Markets’ key advantages is its competitive price structure. The broker is most known for their Raw ECN account, which has tight spreads starting at 0.0 pips. This low-cost trading environment is especially useful for FX and CFD traders who want to cut trading costs.
Raw ECN Account
The Raw ECN account is intended for traders who want direct access to the interbank market. This account type has some of the lowest spreads available, making it a cost-effective solution for high-volume traders. The transparent pricing methodology allows traders to make trades at the best available prices, improving their entire trading experience.
Standard Account
In addition to the Raw ECN account, FP Markets provides a Standard Account with commission-free trading and significantly larger spreads. This account type is perfect for traders who want a simple price structure with no additional commission fees.
FP Markets offers access to numerous major trading platforms, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. Each platform has distinct features and functionalities that cater to the various needs of traders. MT4 is a popular trading platform worldwide, noted for its easy-to-use interface and powerful trading capabilities. It has a variety of features, including enhanced charting, automated trading using Expert Advisors (EAs), and customisable indicators. These features make it a good option for both new and seasoned traders.
MT5 builds on the success of MT4, adding new features and functionalities. It offers more complex charting capabilities, a wider choice of timeframes, and new order types. MT5 is ideal for traders that need more advanced trading tools and a wider selection of assets.
FP Markets offers the cTrader platform to traders looking for a distinctive trading experience. cTrader is well-known for its user-friendly design and advanced trading capabilities. It offers a variety of features such as level II pricing, advanced order types, and customized charting tools. It is especially popular among traders who desire a platform that prioritizes transparency and direct market access.
A wide range of tradeable assets
FP Markets provides over 10,000 trading instruments, including FX pairings, equities, commodities, indices, and cryptocurrencies. This diverse choice of assets enables traders to diversify their portfolios and pursue numerous market opportunities.
With over 60 currency pairings available, FP Markets offers plenty of options for forex traders to explore new markets. The broker provides cheap spreads and leverage options, making it an appealing choice for forex traders.
FP Markets provides access to a large number of stock CFDs from global markets. Traders can profit from price swings in individual stocks without holding the underlying assets. This flexibility enables traders to capitalize on market developments while effectively managing risk.
FP Markets also provides traders with access to a varied choice of commodities and indices. Whether trading gold, oil, or key global indices, the broker provides competitive pricing and leverage options to maximize trading chances.
In response to the growing popularity of cryptocurrencies, FP Markets offers access to a variety of digital assets such as Bitcoin, Ethereum, and Ripple. Traders can speculate on the price swings of these volatile assets without using a digital wallet.
FP Markets provides leverage options up to 1:500, depending on the regulatory jurisdiction. High leverage can increase possible return on investment, making it an appealing characteristic for traders trying to maximise their trading prospects. However, it is important to realize that, while high leverage might boost earnings, it also increases the chance of big losses. As a result, traders must take prudence and implement good risk management techniques.
As a registered broker, FP Markets offers negative balance protection, which ensures that traders do not lose more than their deposited money. This function is critical to risk management, especially in volatile markets. By protecting traders from negative balances, FP Markets improves the overall trading experience while lowering the risk of financial distress.
FP Markets provides responsive customer service in several languages. The broker provides multiple avenues for assistance, including live chat, email, and phone support. This accessibility means that traders may get immediate help with their questions and difficulties, resulting in a more seamless trading experience.
While there is space for improvement in FP Markets’ instructional offerings, the company has made efforts in delivering valuable trading resources and tools. The broker provides a variety of materials, such as seminars, trading tips, and market analysis. These materials are useful for both new and experienced traders, allowing them to improve their trading knowledge and skills.
FP Markets often offers webinars and seminars on a variety of trading subjects. These events give traders with useful information about market trends, trading tactics, and risk management techniques. By attending these sessions, traders may stay up to date on the newest developments in the financial markets.
The broker also provides detailed trading guidelines and lessons on important areas including technical analysis, fundamental analysis, and trading psychology. These tools are intended to assist traders gain a thorough grasp of the markets and enhance their trading performance.
FP Markets does not charge fees for deposits or withdrawals, making it more affordable for traders to handle their accounts. This approach enables traders to concentrate on their trading techniques without being concerned about the additional charges connected with funding or withdrawing from their accounts.
Furthermore, FP Markets’ commitment to customer service, negative balance protection, and educational resources strengthens its position as the industry’s leading broker. FP Markets caters to traders’ different demands by providing a wide range of services and features, making it an excellent alternative for those looking for a dependable and cost-effective trading partner. You should always check the trading conditions of a forex broker.
That’s primarily because they have a direct impact on your potential returns. Moreover, each forex broker such as FP Markets has distinct trading conditions.
A major part of checking the trading conditions of a broker is to verify their deposit and withdrawal methods.
In the case of FP Markets withdrawal, you can see that there are multiple options available.
It makes them accessible to traders. Furthermore, it ensures that people can trade freely.
Some major aspects to keep in mind are:
1. Spreads:
- Fixed Spreads: These remain constant regardless of market conditions. They are generally higher than variable spreads but provide predictability in trading costs.
- Variable (Floating) Spreads: These fluctuate based on market volatility and liquidity. They can be lower than fixed spreads during normal market conditions but can widen significantly during high volatility.
2. Leverage:
- Leverage allows traders to control a larger position with a smaller amount of capital. It is expressed as a ratio (e.g., 100:1, 200:1). Higher leverage can amplify both potential profits and potential losses.
3. Margin Requirements:
- Margin is the amount of money required to open a leveraged position. Brokers set margin requirements based on the leverage ratio. For example, with 100:1 leverage, a $1,000 position would require a $10 margin.
4. Minimum Deposit:
- The minimum amount required to open an account varies by broker. Some brokers offer accounts with no minimum deposit, while others may require hundreds or thousands of dollars.
5. Trading Platforms:
- Brokers provide various trading platforms, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and proprietary platforms. The choice of platform affects the tools, charts, and features available to traders.
6. Execution Methods:
- Market Execution: Orders are executed at the best available price in the market. There may be slippage, especially during high volatility.
- Instant Execution: Orders are executed at the price shown on the platform. If the price changes before execution, the order may be rejected (requote).
Keep in mind that shady forex brokers stop making payments and keep the money to themselves. Hence, you should always check the broker reviews to see if the broker’s payment methods work properly.
We recommend working with a reliable and trusted broker.
FP Markets Customer Service: Do They Handle Complaints Well?
Good customer service is vital for any trader.
You should always check if a forex broker remains accessible to its customers and whether it offers multiple contact channels or not.
The most popular ways for recent customers are live chat and email.
While email is becoming a bit obsolete, it is still among the most common methods for a customer to contact the support staff of a broker.
In the case of FP Markets, it’s clear that they offer proper customer support with a significant variety of ways to contact them.
According to multiple users, FP Markets’s customer support is quite active and responds promptly to general queries and grievances.
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FP Markets Reviews: What Do Others Say?
Based on user-submitted reports, most of the FP Markets reviews are quite positive.
Customers praise the company for its prompt customer service and trader-friendly conditions.
However, it’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
While FP Markets doesn’t seem like a shady broker, many others rely on fake reviews to increase their credibility.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why we recommend doing extensive research on forex brokers before finalizing your selection.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of FP Markets, however, we noticed that their reviews are legitimate.
Unlike their competitors, it seems In the case of FP Markets, however, we noticed that their reviews are legitimate.
has put in a lot of resources into providing its traders with specialized customer service. This way, their customers remain happy and satisfied with their experience.
Also, we didn’t notice many significant In the case of FP Markets, however, we noticed that their reviews are legitimate.
complaints. However, if you have any In the case of FP Markets, however, we noticed that their reviews are legitimate.
reviews to share, feel free to contact us or share them in the comment section.
You should always look out for consumer complaints. The most common complaints in forex are usually regarding:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about FP Markets? You can share your complaint in the comment section or submit an anonymous tip.
Is FP Markets Legit Or a Scam?
While FP Markets excels in many areas, traders should always evaluate their specific trading requirements and risk tolerance when choosing a broker. The characteristics and benefits discussed in this article illustrate why FP Markets has become a popular choice among traders. However, traders must undertake thorough study and analyze their unique needs before making a decision.
By knowing the primary benefits and offerings of FP Markets, traders may make informed selections that are consistent with their trading objectives and tactics. Whether you are a novice trader wishing to discover the markets or an experienced trader searching for advanced trading tools, FP Markets offers a comprehensive and dependable solution to your trading needs.
FP Markets is a regulated entity. They are licensed and operate under the watch of a major financial regulator.
So, it’s clear that FP Markets is a legit forex broker.
You should avoid working with unregulated brokers. The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind the unregulated broker can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.
However, that’s not the case with FP Markets. It’s clear in our FP Markets broker review that they are a legitimate entity and enjoy a positive reputation in the market.
Can You Trust FP Markets?
All the evidence suggests that FP Markets is legit. However, we recommend checking out more options before finalizing your choice.
That’s why we recommend working with a trusted broker. That way, you can avoid any hiccups and be certain of their reliability.
Frequently Asked Questions
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