FP Markets CFD Account Review

Information verified correct on October 27th, 2016

Take advantage of low fees and direct market access when you trade global market CFDs with FP Markets.

FP Markets is an Australian-owned brokerage firm that specialists in CFDs and offers a wide range of online trading options for investors. 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 and service levels to suit the needs of different traders. Charging minimal fees which can often be waived if you satisfy certain trading conditions, FP Markets provides access to forex, index and equity CFDs allowing you to build your investment portfolio.

What can I trade with an FP Markets CFD Account?

FP Markets makes it possible for its customers to trade CFDs across forex, indices, equity markets and more. For CFD traders, the available options include:

  • Forex CFDs. As global foreign exchange markets trade 24 hours a day, only stopping on weekends, trading forex CFDs allows you to manage your investments when it suits you. FP Markets account holders can trade forex CFDs with low margin rates starting as low as 1%.
  • Equity CFDs. Trading equity CFDs involves buying and selling CFDs on equities listed on a stock exchange. FP Markets customers can access full market depth and take advantage of complete market transparency.
  • Index CFDs. FP Markets provides access to some of the world’s biggest index products, allowing traders to open a position on an entire market rather than a specific stock. It offers price feeds straight from leading global futures markets including the Sydney Futures Exchange, NYSE LIFFE and Eurex. This allows you to trade index products such as the FTSE 100, S&P 500, Dow Jones and NASDAQ.

Features of FP Markets CFD Account

  • Market data. With FP Markets, you can enjoy ongoing access to ASX live data. While Professional and Platinum customers will have to pay the $22 ASX monthly fee, this is waived if they generate at least $100 in commissions every month. The ASX royalty fee is automatically waived for Premier customers.
  • Research. 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.
  • Access. Customers trading with FP Markets can place trades online, over the phone, or by using the IRESS iPhone app. When it comes to customer service, the company provides 24/7 phone, email and live chat support.
  • Fast trades. FP Markets guarantees that your trades will be executed as quickly as possible. It was ranked number one for Trade Execution for IRESSTrader in the Investment Trends Report 2015.

What types of accounts are available from FP Markets?

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.

Minimum Opening
Brokerage Rate$10 minimum, then 0.1%$9 minimum, then 0.09%No minimum, then 0.08%
FinancingRBA +3.25%RBA +2.75%RBA +2.25%
Platform Standard Fee$55$55Waived
ASX Live Data Fee$22 - fee is waived if you
generate more than $100
of commissions per month
$22 - fee is waived is you
generate more than $100
of commissions per month
Fee is automatically waived
Telephone TradesNo extra chargeNo extra chargeNo 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 $5,000 minimum opening balance and competitive brokerage rate of a Professional account may better match their trading needs. However, keep in mind that a $55 monthly fee for access to IRESSTrader will apply.

What support or information is available with FP Markets CFD Account?

FP Markets offers comprehensive customer assistance option. 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, seven days a week.

However, you can also benefit from an extensive knowledge base through the FP Markets website. An extensive 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.

What fees are charged when using FP Markets CFD Account?

As you can see from the table above, the fees charged by FP Markets vary depending on the type of account you open and the amount of trades you place per month. The company’s low brokerage rates are outlined in the table, while Premier customers can avoid paying any fee to access the IRESSTrader platform. However, Professional and Platinum customers are required to pay a $55 monthly fee.

Pros and cons of using FP Markets CFD Account

  • Low fees. Compare FP Markets’ brokerage fees and ongoing fees with other CFD trading account providers and you will see that FP Markets offers quite an affordable trading platform.
  • 24/7 customer service. Round-the-clock access to phone, email and live chat support provides guaranteed peace of mind for customers.
  • Account and trading options. Choose from a range of accounts to suit your requirements and enjoy access to an extensive variety of CFD trading options.
  • CFDs can be risky. You need to make sure you are fully aware of all the risks associated with trading CFDs before you open an account.

How do I apply for FP Markets CFD Account?

If you’d like to apply for an FP Markets CFD Account, click the ‘apply now’ link on this page to be securely redirected to an online application form. You can open an individual, joint, sole trader, company or trust / superannuation fund account.

You will need to provide:

  • Your name
  • Your address
  • Your contact details
  • Your tax file number

Once you have completed the application, FP Markets will assess your application and let you know whether or not it has been successful.

Frequently asked questions about FP Markets CFD Account

What does the ‘direct market access part of direct market access CFDs mean?

Direct market access means that you can connect directly to the underlying market without any intervention from a dealer. This means complete transparency when it comes to market prices.

Where is FP Markets based?

FP Markets is an Australian owned company and has offices in Sydney and London.

Is it financially risky to trade CFDs?

Yes, trading CFDs is a risky investment strategy and you could end up losing more than your initial investment. As a result, trading CFDs is best left to people who know what they are doing and understand the risks involved.

Has FP Markets won any awards?

Yes, you can see an extensive list on the company website. The most recent awards include titles for the best Overall Client Satisfaction, Trade Execution, Value For Money and Customer Service in the 2014 Investment Trends CFD Report.

What educational videos are available on the FP Markets website?

Available videos include market forecasts, placing a trade tutorials, technical analysis workshops and tips on how to get the most out of your account.

What are FP Markets’ margin rates?

FP Markets’ competitive margin rates start from as low as 3%.

How long has FP Markets been in business?

FP Markets commenced trading in 2005 and has built its reputation in CFD trading.

Who owns FP Markets?

This company is 100% Australian owned. It is majority owned by First Prudential Investment Group Pty Ltd.

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