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FP Markets is an Australian-owned brokerage firm that specialises in CFD and Forex trading. Run on a direct market access (DMA) model that guarantees transparent pricing, FP Markets offers the fastest trade execution in the industry. In fact, it was ranked number one for Trade Execution for IRESSTrader in the Investment Trends Report 2015.
FP Markets offers multiple account types, trading platforms and service levels to suit the needs of different traders, and access to more than 10,000 financial instruments. Read on to learn more about CFD and Forex trading with our FP Markets review.
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Type of broker | Online |
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Available markets | 70+ FX pairings, commodities, cryptocurrency, indices |
Minimum Spreads for Major Currencies | 0.1 - 1.1 pips |
Commission | $0 |
Minimum opening balance | 100 |
Minimum Trade Size | 0.01 lots |
Leverage | 1:1 - 30:1 |
Platforms | MetaTrader 4 MetaTrader 5 |
Support | Phone, email and live chat |
More Info |
Trading CFDs and forex on leverage is high-risk and you could lose more than your initial investment. It may not be suitable for every investor. Refer to the provider’s PDS and consider the risks before trading.
FP markets is a highly touted broker with an average approval rating of 4.9 out of 5 according to Facebook.
First established in 2005, the service should work for investors who are looking to trade derivatives in forex, indices, commodities and stocks.
Its low fees, tight spread on pips and $0 commission funding options will appeal to most traders.
The company also has a strong customer service focus as well as providing educational resources for its members.
The downside for investors is that the broker does not allow investors traditional share trading services.
FP Markets providers access to more than 10,000 trading instruments.
Note: FP Markets no longer offers traditional share trading, meaning you cannot buy and sell shares with the platform. This is now managed through amscot share trading. Instead, you can trade shares CFDs with FP Markets.
If you're looking for a share trading platform that allows you to buy and own shares in ASX-listed companies, take a look at our share trading comparison instead.
Access Australian and international shares, commodities, indices, metals, forex and more.
With FP Markets, customers looking to trade equities, indices and futures CFDs can access advanced charting tools via the IRESS trading platform. You can also access more than 50 inbuilt indicators, to help you spot significant movements and trends. You can also enjoy ongoing access to ASX live data, providing you pay the ASX a royalty fee of $22 per month (Professional and Platinum customers). This is waived if they generate at least $50 in commissions every month. The ASX royalty fee is automatically waived for Premier customers.
For customers looking to trade forex, both Metatrader 4 & 5 come also come with more than 50 pre-installed indicators, as well as customisable charts.
FP Markets has won more than 35 industry awards, including Highest Overall Client Satisfaction, Best Trade Execution and Best Customer Service.
FP Markets offers a huge range of research resources to its customers. This includes free daily reports and analysis, market snapshots, a dividend calendar and access to FP Markets’ senior analyst’s own portfolio.
Customers trading with FP Markets can place trades online, over the phone, or by using the Metatrader or IRESS iPhone app. As for customer service, the company provides 24/7 phone, email and live chat support.
FP Markets guarantees that your trades will be executed as quickly as possible. It was ranked first for Trade Execution for IRESSTrader in the Investment Trends Report 2015.
FP Markets is regulated by the Australian Securities and Investment Commission (ASIC).
FP Markets offers personal, dedicated account managers to help you setup your trading account and place trades.
Customers can choose from a range of account types that have been designed to meet the requirements of a variety of traders. Details of these accounts can be found in the table below.
Customers primarily interested in trading equities, indices and futures CFD should consider FP Market's CFD trading account, which provides access to the IRESS trading platform. There are 3 levels of account available.
Standard | Platinum | Premier | |
---|---|---|---|
Minimum opening balance | $1,000 | $25,000 | $50,000 |
Brokerage rate | $10 minimum, then 0.1% | $9 minimum, then 0.09% | No minimum, then 0.08% |
Trading platform | IRESSTrader | IRESSTrader | IRESSTrader |
Platform standard fee | $55 (waived if you generate $150 commission monthly) | $55 (waived if you generate $150 commission monthly) | Fee waived |
ASX live data fee | $22 (fee is waived if you generate more than $50 of commissions per month) | $22 (fee is waived is you generate more than $50 of commissions per month) | Fee is automatically waived |
Telephone trades | No extra charge | No extra charge | No extra charge |
As you can see, the lowest brokerage rate is offered to Premier customers at 0.08%, but these account holders will also need to deposit a minimum of $50,000 to open an account. Premier customers can also avoid paying any platform and live data fees.
For customers looking to get started trading CFDs, the $1,000 minimum opening balance and competitive brokerage rate of a Professional account may better match your trading needs. However, keep in mind that a $55 monthly fee for access to IRESSTrader will apply.
For customers mainly looking to trade in forex, FP Market's forex trading account may be more appropriate. There are 2 levels of account available, both of which provide you with access to the Metatrader 4 platform.
Standard | ECN raw | |
---|---|---|
Minimum opening balance | AUD$100 or equivalent | AUD$100 or equivalent |
Spreads | From 1.0 pips | From 0 pips |
Maximum leverage | 30:1 | 30:1 |
Commission per lot | $0 | US$3 per side |
Minimum trade size | 0.1 lots | 0.1 lots |
As a general rule of thumb CFD and forex investing is a riskier form of trading meaning it might not be the best for total novices to financial markets.
Although it should be noted FP Markets does more than just CFDs and allows investors to buy shares, cash equities and underlying stocks instead of CFDs.
As well as providing a range of products the broker offers clear fee reports, $0 commission and a host of educational information that can help investors get up to speed.
FP Market is a highly regulated broker.
In Australia the company is authorised under tier 1 regulator Australian Securities and Investment Commission (ASIC)
If you need help with your account or with a trade, you can phone, email or use the live chat support 24 hours a day, 7 days a week.
You can also benefit from an extensive knowledge base through the FP Markets website. The education section includes video tutorials, instructional ebooks, live webinars and a range of other handy articles. All of these resources are available for free and can help you increase your trading knowledge.
Here's an example of the commissions and spread charged by FP Markets. Fees and charges vary depending on the asset class you're trading and the account level you use.
You can open an account with FP Markets online in minutes. You can open an individual, joint, sole trader, company, trust or superannuation fund account.