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Forex Trading

FP Markets Review: Key Features, Pros, And Cons

By January 9, 2023May 15th, 2024No Comments

The Market Maps and the Analytics menu at FP Markets are particularly strong. Other more day-to-day metrics such as the ‘Market Activity’ monitor are neat touches. Both platforms offer a range and quality of charting tools which is hard to beat. Iress is only available in downloadable format (not via browser), but that does allow for the trader dashboard to be packed with trader-focused software assistance. One monitor gives market depth by instrument name, detailing the volume traded at what price and time. There are also platform fees to consider, something that most other brokers don’t charge.

  1. FP Markets places a strong emphasis on leveraging advanced technology to provide traders with a seamless and efficient trading experience.
  2. The account opening process at FP Markets follows well-established industry practices but requires some more data than many international competitors.
  3. It is just as powerful as MetaTrader when it comes to indicators and analysis, order types and management.

Brokers Similar to FP Markets

You can design custom trading robots and indicators using the MQL5 programming language, according to your trading preferences. The 100 charts are available for traders to understand the currency and stock markets. The traders can conduct a technical analysis through an excess range of analytical objects.

FP Markets Mobile Apps

Rather, you’ll be charged a fee on positions, which is deducted from your account balance. This approach allows us to provide a transparent comparison of FP Markets against its peers, highlighting its strong position in the forex industry, especially for the EUR/USD pair. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Headquartered in Sydney, Australia, FP Markets (First Prudential Markets) was founded in 2005 as an online retail forex and CFD broker. The brand’s entities are regulated in Australia and Europe, with a total of 95 employees as of 2019. Adding more advanced video courses would only serve to improve FP Markets’ educational experience.

Equities Trading

Clients must rely solely on the reputation of FP Markets, as no additional measures exist to ensure client protection, as available and implemented by other brokers. FP Markets stands out for its comprehensive suite of educational resources, designed to enhance the trading knowledge and skills of its clients. In our execution speed testing, FP Markets achieved market order speeds of 96ms, better than the industry’s 134ms average, although its limit order speed was slower at 225ms. FP Markets enhances its trading environment with a suite of features and add-ons designed to support and enhance the trading strategies of its clients. FP Markets has an overall trust score of 60 based on regulation, reputation, and reviews. FP Markets also offers an Islamic account, which doesn’t involve any swaps or interest on overnight positions to stay in line with Islamic principles.

On the Standard account, there is a minimum broker fee of $10 or 0.1% of trade size, whichever is greater. Moreover, FP Markets is a provider of financial services that is authorized and regulated by the Financial Sector Conduct Authority in South Africa. Their regulated name is FP Markets (Pty) Ltd and their FSP number is 50926. Joey Shadeck is the Content Strategist and Research Analyst for and He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years.

Apart from these peculiarities, swap-free accounts work similarly to the standard MetaTrader accounts and offer the same trading conditions. Traders have access to real-time price quotes and a diverse selection of useful trading tools, including graphical objects and technical indicators. The browser-based software is available in multiple languages, allowing non-English speakers to trade seamlessly on desktop and mobile devices.

The Meta Trader platform comes with the EA (Expert Advisors) function, which is something of a market leader in terms of robo trading. The pool of traders to choose from is extensive and reflect MT4 is one of the most popular platforms to use across the globe. Those looking to build their own systematic models and trade these can also do this through MetaTrader. This is a real plus point for many and can involve developing a few automated processes or a full-blown model.

FP Markets has a desktop, web, and mobile trading platform for the ease of its users. The Metatrader 4, Metatrader 5, Iress Essential, Web Trader, and Mobile App are available on FP Markets. Let’s take a look at both desktop and mobile trading platforms in this section of the review. A step-by-step guide to creating accounts on both platforms will also be explored. FP Markets is a great option for traders who are looking for low-cost forex brokers. Beyond its excellent pricing, FP Markets delivers access to both MetaTrader 4 and MetaTrader 5, as well as cTrader and its own copy trading platform.

When trading with leverage, the volume that you trade is much larger than normal. You also have a pretty limited range of commodities to trade and can only trade equity indices on these standard forex accounts. However, if you decide to open a CFD account with DMA, you have more of a selection. Finally, they use some of the top liquidity providers in the industry including the likes of JP Morgan, Goldman Sachs, HSBC and Citibank. They are connected directly with these providers as FP Markets uses the Equnix datacentre in New York to locate their trading servers. More seasoned customers are catered to with the availability of standard, platinum, and premier Iress accounts.

So, if you are a trader that is quite active and is looking for additional tools to supplement your trading then upgrading to the Viewpoint or Trader is probably your best bet. These are third party platforms that are developed by the software company. With this financing fee, they will add / subtract 2%-4.5% on the base rate on a long / short position. So, there appears to be a reasonable range of Forex pairs for you to trade.

FP Markets is a trustworthy and reliable broker, best suited for pure Forex traders who seek a competitive commission-based trading environment from an upgraded MT4 trading platform. The asset selection for MT4/MT5 traders consists of more than 250 trading instruments, an adequate level of choice for most traders. Forex traders get 70+ currency pairs, and diversification opportunities exist via cryptocurrencies, commodities and metals, indices, equity CFDs (available through the MT5 trading platform), and bonds. The IRESS trading platform lists over 10,000 equity CFDs and a few futures contracts, but its availability remains geographically restricted.

An additional nice to have is the multi-account management (MAM/PAMM) accounts which partner client’s accounts to institutional fund managers. Yes, FP Markets have a mobile Trading app that can be downloaded on both Android and iPhone. They support 20+ languages which include Italian, Chinese, Arabic, Greek, and French. Contact us directly for further inquiries about our products and services.

The mobile platforms of this broker have almost all versions of the desktop version. Over 30 technical indicators, as well as fully interactive candlesticks and bar charts. Mobile platforms also make it easy to place prices and place orders. The Iress platform can also be accessed via Iress app or web browser.

Rather, the customer speculates on the differences in the current pricing of the respective underlying asset. The platform doesn’t offer Negative Balance Protection or guaranteed stop losses which are increasingly popular trade and risk management tools. The benefit of omitting those is seen in the depth of market flow seen in the offered forex fp markets review markets and correspondingly super-tight spreads. Client protection of another sort is provided by the firm operating under license from ASIC. The customer service team at FP Markets offer multi-lingual assistance on a 24/5 basis. Support is offered via Live Chat, telephone support and also via their email address – [email protected].

These apps feature a user-friendly interface and robust functionality, enabling traders to manage their accounts and execute trades seamlessly from their smartphones and tablets. FP Markets offers one commission-free trading account, but trading costs are higher there than in its commission-based alternative. Active traders get rebates, lowering subscription fees or eliminating them. Since mobile apps cater more to portfolio management, up-to-date developments, and copy trading, they offer the necessary tools to achieve the above. They include economic calendars, streaming news, and watch lists but do not include the cutting-edge trading tools FP Markets offers for its desktop trading platforms. Our review focused on the MT4 trading platform, available to all clients at FP Markets.

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