FP Markets Review: Pros & Cons 2024

FP Markets provides access to trading in more than 70 forex currency pairs. FP Markets withdrawal methods in fact are all the same as the deposit methods listed above when it comes to availability. Typically withdrawals can take up to 24 hours to process, though this can vary slightly depending on the method you choose.

Traders can have confidence in the broker’s commitment to maintaining a secure and trustworthy trading environment. Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Yes, based on your detected country of NL, you can open an account with this broker. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. We have transferred funds from our one FP Markets account to another, which went smoothly.

1. With the demo account, you will have $100,000 in virtual funds available to trade with.
2. These are non-threatening ways to trade on an account with demo money ($100k) and test out your trading skills.
3. Beyond its excellent pricing, FP Markets delivers access to both MetaTrader 4 and MetaTrader 5, as well as cTrader and its own copy trading platform.
4. Moneta Markets is one of the most discussed CFD brokers these days due to its increased popularity.

He has a Masters and Commerce degree and has an active role in the fintech community. He has also published a book in 2023 on on investing and trading. Knock yourself out and experience what FP Markets has to offer first-hand.

Support and service of FP Markets

We like the FP Markets copy trading platform because it provides more risk management tools than other platforms. It’s free to copy others, as your signal provider will only charge a performance fee on profits. Trading Forex, CFD, Binary Options, and other financial instruments carry a high risk of loss and are fp markets review not suitable for all investors. 66-84% of retail investor accounts lose money when trading CFDs with the providers presented on this site. The information and videos are not investment recommendations and serve to clarify the market mechanisms. The texts on this page are not are not investment recommendations.

Forex Account

According to five leading user-review and broker ranking sites, FP Markets ranks exceptionally well. Traders should always exercise caution when reading user reviews, especially for overly positive or negative remarks. Our in-house research confirms an excellent FP Markets User Experience. At the time of this review, FP Markets neither provides bonuses nor grants special promotions.

FP Markets offers 5+ cryptocurrencies inclusive of Bitcoin, Ethereum, Bitcoin Cash, XRP (Ripple), and Litecoin against US dollars and Australian dollars. Trading crypto eliminates the need to store the underlying asset and hence does not require a wallet. BrokerNotes is powered by a dynamic team of writers, researchers, content strategists, data analysts, editors, traders, and investors. We are obsessed with creating the best finance content on the internet, and we are dedicated to helping our readers make great choices for their money. Determining the legitimacy of a forex broker (and avoiding forex scams) can be a real challenge.

Copy trading

Secondly, in terms of cryptocurrency assets, you can only trade Bitcoin. This is really substandard and every other broker that we have covered have at least a minimum of 4 crypto assets to trade. Well, this platform was developed by traders for traders and has extensive functionality. You have a plethora of charting functionality as well as a range of technical analysis indicators and studies.

The Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC) regulate and supervise the activities of the broker. FP Markets follows the code of conduct imposed by these regulatory bodies. The https://broker-review.org/ traders’ funds and other amounts are kept segregated from the company’s account. The tier-1 banks such as National Australia Bank and the Commonwealth Bank of Australia are used to keep the trader’s money separate with daily fund reconciliation.

FP Markets keep the funds of its clients from the firm’s capital. FP Markets is also a copy trading platform as allows traders to mirror the trading strategies of expert traders. This service, however, is not available to ASIC-regulated clients. The MT4 platform is the most popular third-party trading platform currently on the market. It is used by countless brokers around the world and is well known to traders.

While non-equity trading costs remain very competitive, equity trading tends toward the industry average. Founded in 2005, FP Markets is an experienced broker with a clean track record. Therefore, traders can rest assured that their deposits, segregated from corporate funds, are safe.

Inactivity Fees

This includes MetaTrader 4 (MT4), MetaTrader 5 (MT5), MetaTrader WebTrader, and cTrader. FP Markets have proven its excellence through its products and services. Though the broker representatives were quick to answer, the responses were inaccurate multiple times. FP Markets offers some good quality educational resources to rookie traders. Traders only need to maintain the minimum deposit balance in their accounts.

If you purchase a U.S. stock, you own the actual shares; if you purchase or trade a CFD, you don’t own the asset itself. According to our database, 92% of forex brokers allow you to trade U.S. stocks as a CFD, while only 28% allow you to own the stock itself. Ultimately FP Markets ranks #22 of the 62 brokers graded across our platforms & tools category.

Depending on the transaction method used, it can take anywhere from instant to 3-7 working days for deposits to appear in your account. The broker lags a little bit in providing attractive offers to its clients when it comes to withdrawal. Depending on the transaction method used, it can cost from nothing to 7.25% of the transaction and be instant or take 2 business days to appear in your account. Another Reddit user, who also doubles as an FP Markets client, wrote about their positive experience in their review of the broker.

Range of platforms

The broker is licensed by two reputed regulators, the UK’s FCA and Australia’s ASIC. Additionally, the UK and European clients’ funds are also protected under the compensation schemes of £85,000 and €20,000 under the FCA and CySEC, respectively. We also reached out to customer support to solve the issues we faced. We traded the popular instrument in each market to get the real spreads and placed a total of 12 trades. We would encourage you to do your own research, but based on this review, they should be a strong contender for your broker of choice.