Overall Rating
4.7/5
Rated #23 of
Recommended FX Brokers
Minimum Deposit
USD 100
Regulators
ASIC, CySEC, FSCA
📱 Trading Desk
MetaTrader 4, MetaTrader 5
₿ Crypto
Yes
📈 Total Pairs
63
Islamic Account
Yes
Trading Fees
Low
🕒 Account Activation Time
24 Hours
🏛️ Visit Broker
Our FP Markets Account Types Revealed.
- ✔️FP Markets Overview
- ✔️FP Markets Account Types
- ✔️FP Markets Account Features
- FP Markets Demo Account
- FP Markets Islamic Account
- FP Markets Pros and Cons
- FP MARKETS AT A GLANCE
FP Markets Overview
Established in 2005, First Prudential Markets Pty, Ltd (FP Markets) is a well-regulated Australian ECN, STP, and DMA online trading broker that offers more than 10,000 tradable instruments across several asset classes.
FP Markets is a reputable and award-winning broker that offers comprehensive trading solutions and competitive trading conditions. FP Markets offers the use of flexible and powerful trading technology and some of the fastest execution speeds, tight spreads, and transparent pricing.
FP Markets is well-regulated by reputable market entities and the broker follows a strict no-requote policy under ASIC and CySEC regulations in addition to SVG FSA. FP Markets emphasizes understanding and meeting the unique trading needs and objectives of both retail and institutional traders from around the world.
FP Markets uses the latest technology to ensure that traders are given the best trade execution speeds and the best prices. The liquidity providers that FP Markets uses include Barclays, Goldman Sachs, JP Morgan, and several others.
FP Markets Account Types
FP Markets offers a choice between several account types including the following.
- MT4/5 Standard Account
- MT4/5 Raw Account
- Iress Standard Account
- Iress Platinum Account
- Iress Premier Account
- MT4/5 Islamic Standard Account
- MT4/5 Islamic Raw Account
FP Markets Account Features
MT4/5 Standard Account
This is a typical account that offers some basic account features that are suited to different types of traders. The specifications on this account type are as follows.
- A minimum deposit of AU$100 or equivalent in other currencies
- Spreads from 1 pip
- Access to more than 60 forex pairs, metals, indices, and commodities
- Maximum leverage up to 1:500
- ECN execution
- Commission-free trading
- Micro-lot trading of 0.01 lots
- Access to Expert Advisors (EAs) offered by MetaTrader 4 and MetaTrader 5
- Access to Mobile Trading through MetaTrader 4 and MetaTrader 5
- Access to free VPS
MT4/5 Raw Account
The Raw Account is offered on MetaTrader 4 and MetaTrader 5, providing traders with razor-thin spreads and some of the best trade execution speeds. The specifications on this account are as follows.
- A minimum deposit of AU$100 or equivalent in other currencies
- Spreads from 0.0 pips EUR/USD
- Access to more than 60 forex pairs, metals, indices, and commodities
- Maximum leverage up to 1:500
- ECN execution
- Commissions of $3 per side and $6 per lot traded
- Micro-lot trading of 0.01 lots
- Access to Expert Advisors (EAs) offered by MetaTrader 4 and MetaTrader 5
- Access to Mobile Trading through MetaTrader 4 and MetaTrader 5
- Access to free VPS
Iress Standard Account
This is an entry-level account tied to the Iress trading platform, offering the following features.
- A minimum deposit of AU$1,000
- Equity CFD margin rates from as low as 3%
- Minimum commissions of AU$3 followed by an additional 0.1%
- Financing according to the FP Markets base rate of +4.0%
- Transparent pricing
- Sophisticated charting capabilities on the Iress platform
- Traders can use advanced order management when they trade through Iress
- Customisable and user-friendly interface
- Traders have access to an innovative heat map
Iress Platinum Account
The Platinum Account is for more experienced traders, and it is a popular option that offers the following features.
- A minimum deposit of AU$25,000
- Equity CFD margin rates from as low as 3%
- Minimum commissions of AU$9 followed by an additional 0.09%
- Financing according to the FP Markets base rate of +3.5%
- With the Iress trading platform, traders can live stream news, access sophisticated charting, and gain access to in-depth and comprehensive market depth
- Traders can use Iress on windows or macOS desktops
- Traders can easily set trade alerts on their trade execution in addition to news and different price levels
Iress Premier Account
The Iress Premier Account is one of the best professional accounts with the following specifications.
- A minimum deposit of AU$50,000
- Equity CFD margin rates from as low as 3%
- Commissions from 0.08%
- Financing according to the FP Markets base rate of +3.0%
- Access to transparent pricing on the Iress platform
- Full market depth offered on all Iress Accounts
- Sophisticated charting and the ability to live stream news
- Advanced order management offered in addition to a highly customizable interface
MT4/5 Islamic Standard Account
The Standard Islamic Account can be used on either MetaTrader 4 or MetaTrader 5. The Standard Islamic Account has the following features.
- A minimum deposit of AU$100 or equivalent in other currencies
- Spreads from 1 pip EUR/USD
- Access to more than 60 forex pairs, metals, indices, and commodities
- Maximum leverage up to 1:500
- ECN execution
- Commission-free trading
- Micro-lot trading of 0.01 lots
- Access to Expert Advisors (EAs) offered by MetaTrader 4 and MetaTrader 5
- Access to Mobile Trading through MetaTrader 4 and MetaTrader 5
- Access to free VPS
- Exemption from earning/paying swap fees
MT4/5 Islamic Raw Account
The Islamic Raw Account offers more experienced traders some of the best trading conditions in addition to the following features.
- A minimum deposit of AU$100 or equivalent in other currencies
- Spreads from 0.0 pips EUR/USD
- Access to more than 60 forex pairs, metals, indices, and commodities
- Maximum leverage up to 1:500
- ECN execution
- Commissions of $3 per side and $6 per lot traded
- Micro-lot trading of 0.01 lots
- Access to Expert Advisors (EAs) offered by MetaTrader 4 and MetaTrader 5
- Access to Mobile Trading through MetaTrader 4 and MetaTrader 5
- Access to free VPS
- The advantage is that traders are not subject to any swaps or interest
FP Markets Demo Account
FP Markets offers traders the option of registering for a demo account that can be used alongside MetaTrader 4 or MetaTrader 5. Sign-up for the demo account is quick and easy and traders can demo the Standard or the Raw account.
The demo account is not only intended for beginner traders who need a risk-free practice account. It can also be used by experienced traders who want to test different trading strategies. Anyone can use the demo account to explore FP Markets, its trading conditions, and the trading platform.
FP Markets Islamic Account
The purpose of an Islamic Account is that it caters specifically for Muslim traders who follow Sharia law. The law prevents its followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitive.
Overnight fees are charged should traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should they hold positions open for longer.
FP Markets offers two Islamic Accounts that Muslim traders can use while complying with the provisions of Sharia law. The Islamic Accounts offer competitive trading conditions and flexible solutions that cater to both beginner and professional traders.
FP Markets Pros and Cons
FP MARKETS AT A GLANCE |
|
| Broker's Name | FP Markets |
| Headquartered | Australia |
| Year Founded | 2005 |
| Regulating Authorities | ASIC, CySEC, SVG GSA |
| Countries not accepted for trade | United States |
| Islamic Account (Swap Free) | Yes |
| Demo Account | Yes |
| Institutional Accounts | No |
| Managed Accounts | No |
| Maximum Leverage | 1:500 |
| Minimum Deposit | AU$100 |
| Deposit Options |
|
| Withdrawal Options |
|
| Platform Types |
|
| OS Compatibility | iOS, Android, Linux, Windows, macOS, web browsers |
| Tradable Assets |
|
| Languages supported on Website | English, Arabic, German, Portuguese, Vietnamese, Indonesian, French, Malay, Italian, Russian |
| Customer Support Languages | Multilingual |
| Customer Service Hours | 24/7 |
You might also like: FP Markets Demo Account
You might also like: FP Markets Fees and Spreads
You might also like: FP Markets Islamic Account
You might also like: FP Markets Minimum Deposit
Overall Rating
4.7/5
Rated #23 of
Recommended FX Brokers
Minimum Deposit
USD 100
Regulators
ASIC, CySEC, FSCA
📱 Trading Desk
MetaTrader 4, MetaTrader 5
₿ Crypto
Yes
📈 Total Pairs
63
Islamic Account
Yes
Trading Fees
Low
🕒 Account Activation Time
24 Hours
🏛️ Visit Broker
FAQ
TRADING ENVIRONMENT
How many instruments can I trade with FP Markets?
You can trade any of the following instruments.
- Forex
- Shares
- Metals
- Futures
- Derivatives
- Indices
- Commodities
Which platforms are supported by FP Markets?
FP Markets supports the use of the following.
- MetaTrader 4
- MetaTrader 5
- Iress
Does FP Markets offer leverage?
Yes, FP Markets offers leverage up to 1:500.
What spreads can I expect with FP Markets?
You can expect spreads from 0.0 pips.
Does FP Markets charge commission?
Yes, FP Markets charges the following commissions.
- MT4/5 Raw Account – Commissions of $3 per side and $6 per lot traded
- Iress Standard Account – Minimum commissions of AU$3 followed by an additional 0.1%
- Iress Platinum Account – Minimum commissions of AU$9 followed by an additional 0.09%
- Iress Premier Account – Commissions from 0.08%
- MT4/5 Islamic Raw Account – Commissions of $3 per side and $6 per lot traded
- All MT4/5 Standard and Raw Accounts – Commissions from 0.10% or a minimum of 10 EUR/USD/GBP per side on Equities
Are there additional charges on the Islamic account?
No, there are no additional charges on the Islamic Account.
Is FP Markets regulated and by whom?
Yes, FP Markets is well-regulated by CySEC, ASIC, and SVG FSA.
Is FP Markets a recommended forex trading broker for experts and beginners?
Yes, FP Markets is suited to both beginners and professional traders.
What is the overall rating out of 10 for FP Markets?
9/10.
ACCOUNTS
What is the difference between a demo and a live trading account?
A demo account is a practice account that can be used by both beginner and professional traders. Beginners can use a demo account to practice their trading while more advanced traders can use it to test their trading strategies.
Alternatively, traders can also use a demo account to explore what a broker has to offer. Demo accounts are known for the risk-free environment that they offer along with the virtual funds which are used to trade.
Does FP Markets offer a demo account?
Yes, FP Markets offers a demo account.
How long is the demo account valid?
The demo account is available for an unlimited time if it is constantly being used. If the account goes dormant, it will expire after 30 days.
Which live trading accounts does FP Markets offer?
FP Markets offers the following live trading accounts.
- MT4/5 Standard Account
- MT4/5 Raw Account
- Iress Standard Account
- Iress Platinum Account
- Iress Premier Account
- MT4/5 Islamic Standard Account
- MT4/5 Islamic Raw Account
Does FP Markets offer an Islamic Account?
Yes, FP Markets offers a Standard and Raw Islamic Account that can be used on either MetaTrader 4 or MetaTrader 5.
What are the available deposit currencies for a live trading account?
DEPOSITS AND WITHDRAWALS
What is the minimum deposit required to open an account with FP Markets?
AU$100.
How do you make a deposit and withdraw money with FP Markets?
- Bank Transfer
- Credit Card
- Debit Card
- Neteller
- Skrill
- PayTrust (Local Bank Transfer)
- Sticpay
- Fasapay
- Broker to Broker
- South American Payment Method
- Dragonpay
- Perfect Money
- Asian, African, and Latam Payments
- MPSA
- Cryptocurrency Payments
- FairPay eWallets
- Paylivre
- Finrax
- Thai Payments
Does FP Markets charge withdrawal fees?
Yes, FP Markets charges the following withdrawal fees.
- International Bank Wire other than AUD – 10 AUD
- Neteller – 2% up to 30 USD in addition to country fees
- Skrill – 1% and country fees
- Fasapay – 0.50%
- PayTrust – 1.5%
- Dragonpay – 1.5%
- Perfect Money – 0.5%
- Asian, African, and Latam Payments – 2%
- Cryptocurrency Payments – Blockchain fees
- MPSA – 7.25%
- FairPay – 0.5% plus an additional flat fee of 10 USD
- Paylivre – 1.5%
- Finrax – Blockchain fees
- Sticpay – 5% for bank wire and 2.5% for wallet fees
- Thai Pay – 0.5%
How long does it take to make a withdrawal?
This will depend on the payment method that traders use. Some payments can be instant while others, such as conventional bank transfers, can take a few days.
