FP Markets is an Australian multi-asset broker that serves customers in more than 80 different countries and conducts daily trading activity of over $1 billion. FP Markets, which was established in Australia in 2005, has more than 100 workers and has developed into a legitimate company over the previous 15+ years.
Through the twelve plug-ins that make up the Trader Tools, the updated MT4/MT5 trading platforms give clients a competitive advantage. To give traders a thorough understanding of the trading environment at FP Markets , we reviewed this CFD broker in-depth.
Affiliate Program for FP Markets
The quality of research tools varies, particularly when it comes to news, charts, and basic data. It was great to find that FP Markets offers both Metatrader 4 and Metatrader 5 as options.
Some traders have adopted the more recent Metatrader 5 version, while veteran traders will likely pick Metatrader 4 out of habit. Both excel at producing automated trading systems and are excellent at doing technical analysis of price movements. Trading in financial instruments has a significant amount of risk, making it unsuitable for all traders.
This degree of risk carries the potential for losses in excess of the initial deposit. The quality, length, and reach of the broker’s regulatory status are used to evaluate safety. All of the above payment methods have zero deposit fees and can instantly fund your account
With the exception of broker to broker, all of the payment methods described above can be utilized for limefxhdrawals as well, and payout periods range from instant to 2 working days.
Fees and commissions
At least for its commission-based ECN account offering, FP Markets is one of the best forex trading platforms for beginners and most cost-competitive brokers available to traders worldwide due to its Meta Trader offering. The Iress Viewpoint account option is more expensive and designed for active traders with large account balances.
Meta Trader Standard versus the Raw ECN account from FP Markets: The Raw ECN account from FP Markets offers competitive spreads, which as of October 2021 averaged 0.1 pip. Due to its much greater spreads (averaging 1.2 pips as of August 2022 for the EUR/USD), its Standard account is a more expensive choice.
Three account types with various minimum deposit amounts are available through the FP Markets Iress platform package: Standard (AUD 1,000 minimum deposit), Platinum (AUD 25,000), and Premier (AUD 50,000). (AUD 50,000). You must either be eligible for the Premium account or spend at least AUD 150 in commissions per month to avoid platform and data fees. Saxo Bank and CMC Markets offer greater deals for active traders and traders with large balances.
Is FP Markets authorized and governed?
You should always place a high priority on excellent regulation when you are dealing foreign currency. You may rely on thorough regulation by FP Market for all of the companies the broker uses to conduct business. First Prudential Markets Ltd. is the broker’s EU entity, and it is subject to CySEC regulation.
What you will need in order to register for an account with FP Markets
Every new client at FP Markets must pass a few simple and direct compliance checks because the company is governed by the Australian Securities and Investments Commission. This is done to make sure the client is aware of the trading risks and is authorized to participate in them. You’ll probably be asked for the following information when opening an account, so it’s a good idea to have it on hand:
Be careful different companies operating under the FP Markets Brand may have different Proof of Address expiration dates. A colour scan of your passport, license, or other government-issued identification. A recent three-month utility or bank statement with your address on it
This is one of the best platforms which takes only 5 minutes to finish the account opening process because you’ll also need to respond to some basic compliance questions to verify your level of trading experience.
All though you may be able to browse the FP Markets which is one of the best forex trading platforms for beginners right away, it’s important to keep in mind that until you pass compliance, which could take several days depending on your circumstances, you won’t be able to perform any trades.