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FP Markets Broker Review

FX Scouts By Jeffrey Cammack Updated: March 31, 2020
Overall Rating
4.32 / 5
Min. DepositGBP 100
Max. Leverage30:1
Min. Spread0.0 pips
Regulators ASIC,CySEC
Regulator Origin ASIC CySEC
Broker TypeECN/DMA

Summary

FP Markets is a great Australian broker with simple account options and an exciting set of tools for traders with higher minimum deposits. Bonus schemes, including deposit and no-deposit bonuses, are frequently available and Islamic accounts are available on both the MT4 and MT5 platforms.

Spreads are tight, even on the Standard Account, and the lack of dealing desk intervention for all accounts removes any concern over conflict of interest.

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
Beginner Friendly Good
Bonuses None
Our Review Process

Trading Conditions

Minimum DepositGBP 100
Base currenciesUSD, AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD
Number of FX Pairs50+
Hedging Allowed Yes
Scalping Yes
Swap-Free Accounts Yes

Average Spreads

EUR / USD0.1
GBP / USD0.2
USD / JPY0.2

Company Details

Company nameFirst Prudential Markets Pty Ltd
Founded2005
Website Visit Website
TypeECN/DMA
RegulatorsASIC,CySEC
Office locations Australia

Deposit & Withdrawal Methods

Supported Platforms for FP Markets

Most retail CFD accounts lose money. Your capital is at risk.

Compare CFD Brokers

Overall Rating 4.32 / 5 4.51 / 5 4.38 / 5
Minimum DepositGBP 100GBP 200USD 5
Regulation
ASIC ASIC
CySEC CySEC
CySEC CySEC
ASIC ASIC
CySEC CySEC
FCA FCA
ASIC ASIC
IFSC IFSC
Broker TypeECN/DMAECNMarket Maker
Trading InstrumentsCommodities, Cryptocurrencies, Forex, Indicies, Metals, EquitiesCommodities, Cryptocurrencies, Forex, Indicies, Equities, Bonds, FuturesCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies
Forex Pairs50+6057
Crypto Pairs5102
Read Full Review Read Full Review
Trust Rating 5 / 5 5 / 5 5 / 5
Trading Conditions 4.5 / 5 4.5 / 5 3.5 / 5
Trading Platforms 4.5 / 5 5 / 5 4.5 / 5
Deposit & Withdrawal 3 / 5 4 / 5 4.5 / 5
Education & Research 4 / 5 3.5 / 5 5 / 5
Assets Available 4 / 5 4.5 / 5 4.5 / 5
Customer Service 4.5 / 5 4.5 / 5 4 / 5
% Lose with this broker of retail investor accounts lose money when trading CFDs with this provider N/A 69% of retail investor accounts lose money when trading CFDs with this provider
Leverage30:130:1888:1
Spread0.0 pips0.1 pips0.6 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • Platinum IRESS (Vip)
  • Premier IRESS (Vip)
  • RAW (Standard)
  • Standard (Standard)
  • Standard IRESS (Professional)
  • RAW - cTrader (Standard)
  • RAW - MetaTrader (Standard)
  • Standard - MetaTrader (Standard)
  • Micro (Mini)
  • Standard (Mini)
  • XM Ultra Low (Mini)
  • XM Zero (Standard)
Swap-Free Accounts Yes Yes Yes
Trading Platforms MT4, MT5, IRESS MT4, MT5, cTrader MT4, MT5
Funding Methods Bank Transfer, Visa, Mastercard, Paypal, Skrill, Neteller, Fasapay, BPay, paytrust88, POLi Bank Transfer, Visa, Mastercard, Skrill, Neteller, Paypal, Unionpay Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay
Trading Commission 6 USD / lot - RAW Accounts 7 USD / lot - True ECN account 7 USD / lot - XM Zero Account
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FP Markets

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IC Markets

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XM

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Overall Rating 4.32 / 5 4.51 / 5 4.38 / 5
Minimum DepositGBP 100GBP 200USD 5
Regulation
ASIC ASIC
CySEC CySEC
CySEC CySEC
ASIC ASIC
CySEC CySEC
FCA FCA
ASIC ASIC
IFSC IFSC
Broker TypeECN/DMAECNMarket Maker
Trading InstrumentsCommodities, Cryptocurrencies, Forex, Indicies, Metals, EquitiesCommodities, Cryptocurrencies, Forex, Indicies, Equities, Bonds, FuturesCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies
Forex Pairs50+6057
Crypto Pairs5102
Read Full Review Read Full Review
Trust Rating 5 / 5 5 / 5 5 / 5
Trading Conditions 4.5 / 5 4.5 / 5 3.5 / 5
Trading Platforms 4.5 / 5 5 / 5 4.5 / 5
Deposit & Withdrawal 3 / 5 4 / 5 4.5 / 5
Education & Research 4 / 5 3.5 / 5 5 / 5
Assets Available 4 / 5 4.5 / 5 4.5 / 5
Customer Service 4.5 / 5 4.5 / 5 4 / 5
% Lose with this broker of retail investor accounts lose money when trading CFDs with this provider N/A 69% of retail investor accounts lose money when trading CFDs with this provider
Leverage30:130:1888:1
Spread0.0 pips0.1 pips0.6 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • Platinum IRESS (Vip)
  • Premier IRESS (Vip)
  • RAW (Standard)
  • Standard (Standard)
  • Standard IRESS (Professional)
  • RAW - cTrader (Standard)
  • RAW - MetaTrader (Standard)
  • Standard - MetaTrader (Standard)
  • Micro (Mini)
  • Standard (Mini)
  • XM Ultra Low (Mini)
  • XM Zero (Standard)
Swap-Free Accounts Yes Yes Yes
Trading Platforms MT4, MT5, IRESS MT4, MT5, cTrader MT4, MT5
Funding Methods Bank Transfer, Visa, Mastercard, Paypal, Skrill, Neteller, Fasapay, BPay, paytrust88, POLi Bank Transfer, Visa, Mastercard, Skrill, Neteller, Paypal, Unionpay Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay
Trading Commission 6 USD / lot - RAW Accounts 7 USD / lot - True ECN account 7 USD / lot - XM Zero Account

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Most retail CFD accounts lose money. Your capital is at risk.

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