FPMARKETS

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About company:

FP MARKETS (FPM) is a CFD and Forex provider that has been in business for over 10 years and specializes in direct market access (DMA) trading.

Company. Fund security

The firm that operates the FP MARKETS brand is First Prudential Markets Pty Ltd., which is regulated by the Australian Securities and Investments Commission (ASIC).

ASIC requires licensed companies to comply with certain rules. Customers' money should be kept in segregated accounts. As far as the minimum capital requirement is concerned, Forex brokers must have at least $ 1 million in order to prove their financial stability. By comparison, the UK FCA requires Forex brokers to hold at least € 730,000, while the CySEC of Cyprus requires € 1,000,000.

However, unlike many EU-based brokers, Australian companies do not participate in investor compensation programs.

Trading conditions

The accounts presented in the company are divided for Forex and CFD trading.

FP MARKETS offers its clients a choice of two types of live Forex accounts: a standard no commission, and a Row account with lower spreads and commissions.

Micro lots are available for trading on both types of accounts, and of course the broker also provides free demo accounts that are always in demand by novice traders.

When trading CFDs, traders can choose one of the following accounts: Professional, Platinum, Premier.

Minimum initial deposit

Traders are required to deposit 200 $ to open an account with FP MARKETS-Forex. This is a relatively low down payment in the industry. However, there are brokers that only require $ 1.

To trade FP MARKETS-CFDs, you need to deposit at least $ 1,000.

Spreads and commissions

FP MARKETS offers variable spreads: 1.45 on Row accounts; on ECN accounts, spreads are 0.45 pips on EUR / USD. Given that the Row account is charged a commission of $ 3.5 per standard lot per side, the trading costs of these account holders are around 1.2 pips. Thus, typical spreads for both account types are below 1.5 pips and are considered average.

Leverage

FP MARKETS clients can use leverage up to 1: 500 and this maximum leverage is considered high. Some jurisdictions limit the amount of leverage to a level significantly lower than this (for example, 1:50 in the US).

Most brokers usually offer up to 1: 200 or 1: 400 leverage. However, if you require a higher leverage, many brokers provide leverage ratios equal to or greater than 1: 500.

Trading platforms

FP MARKETS offers its clients two trading platforms: MetaTrader 4 (MT4) and its own IRESSTrader, specializing in CFD trading.

MT4 is the most widely used Forex platform available to FPM clients on PC, Mac, iPhone / iPad and Android. MT4 provides all the tools and resources a trader needs: a range of technical indicators, an expanded set of charts, an extensive testing environment, and a wide range of experts (advisors). Expert Advisors allow you to fully automate trading.

If you are working with experts, it is very important that your platform is connected to the Internet 24 hours a day. Your best bet in this case is to use a VPS hosting that connects traders to the Equinix NY4 network using cutting edge technology and ensures excellent execution of all trades.

Moreover, MT4 has MAM / PAMM account options. MetaFX has developed a standalone console to help account managers manage their trading. The offered MAM / PAMM accounts are easy to set up and user-friendly.

As for FP Markets' proprietary IRESSTrader platform, it provides its clients with access to DMA CFDs with a wide range of order types, stop losses, news feeds, international data and charting capabilities.

IRESSTrader is a web-based platform that you can access from any PC or even a mobile device.

Support service

You can get expert advice by e-mail, chat, phone.

The site is Russified, but news and analytical materials in Russian are not available. The company has accounts on Facebook, Twitter and YouTube.

Ways of payment

FP MARKETS offers its customers various ways to deposit / withdraw funds: via credit / debit card, bank wire, BPAY, Neteller, Skrill, China UnionPay.

Depending on the deposit method, customers can use the following currencies: AUD, USD, SGD, CHF, GBP, CAD, HKD, JPY, EUR and NZD.

Pros:

regulated broker; high level of leverage; a large selection of trading accounts.

Minuses:

does not offer Islamic accounts.

FAQ - BROKER QUESTIONS FPMARKETS

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Can the broker FPMARKETS be considered honest?
Before any trading and choosing a broker, you should always read reviews on our portal, as well as on other resources. Brokers that are honest have a rating above 3.8. There is also always a risk of losing investments when trading CFDs. Be careful and read the risk warning on the broker's website. FPMARKETS received a rating of 1 out of 5 on our resource.