FP Markets group includes 3 related companies.
FP Markets AU – located in Australia, regulated by the Australian Securities and Investments Commission (ASIC).
FP Markets CY – located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
FP Markets SVG – legally registered entity located in Saint Vincent and the Grenadines, but not regulated by any government agency.
Be aware, CY company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
At the same time, AU and SVG companies accept European traders, so one can open a trading account there.
FP Markets group accepts clients from all over the world, excluding USA, Belgium, Japan, New Zealand and some other countries where restrictions apply.
- Authorised and regulated by credible government agencies in separate jurisdictions.
- Thousands of stocks and hundreds of ETFs available for trading.
- Tight spreads on major currency pairs.
Forex broker offers the following underlying assets for trading.
|45+ Currency Pairs||Based on major and minor world currencies.|
|5 Crypto Pairs||Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple.|
|11 Indice Cash CFDs||Based on baskets of different blue-chip stocks.|
|8 Indice Futures||Based on baskets of different blue-chip stocks.|
|4 Metal Spot CFDs||Based on Gold and Silver.|
|2 Metal Futures||Based on Platinum and Palladium.|
|1 Energy Spot CFD||Based on Crude Oil (WTI).|
|4 Energy Futures||Based on Crude Oil (WTI), Heating Oil, Gasoline and Natural Gas.|
|9 Soft Futures||Based on Wheat, Soybean, Soybean Oil, Soybean Meal, Corn, Oats, Lean Hogs, Cattle Feeder, Live Cattle.|
|10500+ Stock CFDs||Based on shares of AU, US, UK, EU and Asian companies.|
|500+ ETF CFDs||Based on exchange-traded funds containing various tradable assets.|
Indice and Commodity Futures, Stock and ETF СFDs are available at IRESS platform.
FP Markets (officially First Prudential Markets Pty. Ltd.) is an Australian-registered and regulated forex & CFD broker that has been operating in the market since 2005. Since December 2019, FP Markets has also started to operate in the EU (regulated by CySEC) and in Saint Vincent and the Grenadines (no regulation).
The broker’s long history, as well as its ASIC and ESMA regulation, means that FP Markets should be considered a reliable broker that is as safe to trade with as any of the other big names in the industry.
The main benefit of trading with FP Markets is the enormous selection of trading instruments that the broker provides access to. This applies to CFDs on individual shares in particular, where the broker offers more than 10,000 stocks to choose from, covering nearly all major Australian, European, Asian, and American companies.
In addition to this vast selection of stock CFDs, FP Markets also offers CFDs on more than 500 exchange traded funds (ETFs), 45 popular forex pairs, stock indices, precious metals, energies and other commodities. Further, the broker also offers trading in CFDs on cryptocurrencies like Bitcoin, Ripple (XRP), Bitcoin Cash, Litecoin, and Ethereum, against both USD and AUD.
FP Markets also offers a wider selection of trading platforms than many other forex brokers do, having both the MetaTrader 4 and 5 in web and desktop versions, as well as the advanced IRESS trading platform that runs directly in the trader’s browser window.
Unfortunately, the IRESS platform costs AU$ 55 per month plus AU$ 22 per month for the data feed from the Australian Securities Exchange (ASX). This is certainly on the high end for a retail trading platform, and it is worth mentioning that some other brokers will offer the same capabilities at lower prices. With that said, however, FP Markets also makes it clear that platform fees will be waived once a trader generates more than AU$ 150 in commissions or makes a minimum of 15 trades per month.
For most traders (including Australian & other international traders), FP Markets is able to offer a maximum leverage 1:500, which is considered pretty good in today’s market. Interestingly, this may also be possible for EU-based traders if they request specifically to be signed up with the branches based in either Saint Vincent and the Grenadines or Australia.
For traders signed up with the Cyprus-based entity, however, the maximum leverage is set to 1:30, in accordance with European regulations.
The account types offered by FP Markets are categorized into regular forex trading accounts and accounts specifically for the IRESS platform.
In terms of forex, traders have the choice between a Standard Account ideal for beginners with no commissions but wider spreads, and an ECN Raw Account for the more advanced traders with tight spreads and commission-based trading. Forex accounts can be opened with a minimum deposit of AUD 100, or the equivalent in another currency.
Similarly, the IRESS accounts also have Standard, Platinum, and Premier tiers available for traders to choose from. Minimum balance requirements range from $1,000 for the Professional account, to $50,000 for the Premier account. When it comes to commission fees, however, the Standard account has the highest fees with AU$ 10 as a minimum commission, and the Premier account has the lowest fees with only 0.08% commission (without any minimum fee).
Trading accounts can be funded through a variety of methods on FP Markets. Most payment methods are accepted free of charge into the MT4 and MT5 forex trading accounts by the broker, while deposits into the IRESS platform is typically charged between 1.6% and 4%, depending on the payment method. However, well-known e-wallets like Skrill and Neteller are accepted free of charge regardless of the account type.
It’s also worth taking note that the available payment methods and applicable fees sometimes vary depending on the currency chosen for the deposit.
All in all, we believe FP Markets is an ideal broker for traders mainly interested in trading stock CFDs. The selection here is really among the best in the industry, with stocks from more than 10,000 companies from around the world to choose from. However, given the rather high price of the broker’s trading platform, it is probably best for larger traders who would qualify for having the platform fee waived.