FP Markets
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3.0
Unverified company
fpmarkets.com
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Australian forex broker with ASIC license with trading directions on forex and CFD (cryptocurrency, metals, indices, commodities).
Forex broker
Website
Social media
Date of foundation
2005
Head Office
10 Bridge Street, Sydney, Australia
The owner of the company
First Prudential Markets Ltd.
Types of support
Feedback form on the site
Live Chat
Telegram
Help Center
Support by phone
Languages
Russian, English, Italian, Chinese, German, Spanish, Portuguese, etc.
Terminals
MetaTrader 4 (PC, Web, Mobile), MetaTrader 5 (PC, Web, Mobile), WebTrader
Min. first deposit
From 50 USD
Broker fee
3 USD per lot for RAW accounts, 1-10 USD for Islamic accounts
Lot volume
From 0.01
Leverage
Floating from 1:50 to 1:500
Spreads
From 0 points
Free Demo Account
Adjustable
Yes
Regulators
ASICACN 154 461 104
Types of accounts
Execution of orders
Market Execution (at market price)
Methods of replenishment
Neteller, Skrill, POLI, PayTrust, BPAY, NuongLang, GSD Pay, Wire Transfer, Bank Card (Visa/MC)
Withdrawal methods
Neteller, Skrill, PayPal, Wire Transfer, Bank Card (Visa/MC)
Number of assets
70+
Types of assets
Currency pairs
Products
Indexes
Cryptocurrency
Precious metals
Account currencies
USD, EUR, GBP, AUD, SGD, CAD
Liquidity providers
Barclays, BNP Paribas, Citibank, Commerzbank, Credit Suisse, Goldman Sachs
Mobile Trading
Has mobile apps (iOS / Android)
Weekend trading
No
Tournaments / contests
No
Trader training
No
Contract Difference Commission
No
Swaps
No
PAMM trading
Yes
Analytics
Technical analysis, fundamental analysis, economic calendar, calculators (margin, swaps, profit, pips)
Margin Trading
Yes
Affiliate Program
RegistrationUp to 800 USD - CPA as part of an affiliate program
Benefits
ASIC regulation
Transparent detailed trading conditions
There is an Islamic account
Allowed hedging
Lots of positive feedback
Disadvantages
Poor (partial) russification of the site
The broker may use funds from your account to fulfill obligations to other clients and partners
Company requisites
Date of update
26.04.2022
Overall assessment
9/10

    FP Markets is it a scam? Reviews and description

    18 June 2020


    FP Markets - it's Australian Forex brokerofficially registered with ASIC in 2011. However, the company has been on the market since 2005. The main trading directions: forex and CFD (cryptocurrency, metals, indices, commodities).

    Many people talk about the service provider quite well. But isn't there something else behind the good reputation? Is it possible that FP Markets is a scam, just a very skillful one? Let's take a look.

     

    Terms of trading with FP Markets

    FP Markets offers forex trading 70 with small instruments (assets): currency pairs, cryptocurrencies, precious metals (gold, silver, platinum), commodities and indices.

    FP Markets is a scam? Reviews

    3 types of trading accounts are available (opened in American/Australian/Singaporean/Canadian dollars, Euros and British pounds sterling):

    • Standard with a minimum deposit of 100 AUD / 50 USD (and other USD equivalents), ECN-execution, no commission per lot, deal size from 0.01 lots (1 lot = 100,000 currency units), leverage up to 1:500 (maximum depends on the amount in the balance, for beginners usually set the leverage to 1:100), spreads from 1.1 pt. (though the broker assures that they start from 0 pt. during the liquidity periods), support of auto-trading (trading by Expert Advisors) and trading via VPS.
    • RAWThe new version of the "Standard" fare, which differs from the previous one in the amount of 3$ commission per lot, spreads starting from 0 pt. (for example, for the EUR/USD pair) and a large number of available instruments (70 vs. 60 at the standard rate).
    • Islamic. The application for its connection is submitted after the creation of a standard account. There are no SWAPs for the first 5 nights of rollover, after that they are charged from 1 to 33 USD per lot, depending on the currency pair. All other conditions are the same as above.

    FP Markets choose an account

    Managers' services are provided (investing in PAMM, MAMM). Hedging is allowed. The trading session opens at 00:01 on Monday, and closes at 23:59 on Friday. Time - GMT+3 in summer and GMT+2 in winter. On website fpmarkets.com There is a lot of analytics (fundamental and technical market analysis, economic calendar, calculators of transaction margin, profit, Swaps calculation, etc.). There is a knowledge base, glossary, FAQ (answers to frequently asked questions), video tutorials, e-books and an opportunity to subscribe to a paid newsletter with daily market reports.

    FP Markets analytics

    Customer support is provided by phone (only a UK number is available), email, online chat and Telegram chatbot, as well as through the feedback form on the website and official communities on social networks Facebook, Twitter, Instagram and LinkedIn.

     

    FP Markets platform

    FP Markets works with two platforms: MetaTrader 4 and MetaTrader 5 (a later version of the terminal). The MT5 differs from its predecessor:

    • The number of timeframes (13 vs. 6).
    • The ability to open up to 8, not 4 charts in one window.
    • The number of indicators (80+ vs. 30).

    But inferior to it, according to traders, in performance and smooth operation. In addition, the platform does not contain training and informational materials. But their key advantages are similar: support of templates and plugins for analytics tools, interactive features (scrolling, zooming, color schemes, labels), functions of data upload to the "cloud", etc.

    fpmarkets.com platforms

    The company takes the issue of user verification seriously. Without passing this procedure, the functionality of the platforms will not be available to you. As part of the verification you provide:

    • ID card (passport, driver's license, ID-card - your choice).
    • Confirmation of location (receipt of payment for services, where you can clearly see the address and name, bank card statement, etc.).

    They are uploaded in special forms during registration or on the Profile page of your personal account (Document upload section).

    Broker quotes

    Broker quotes come from primers (first-tier suppliers):

    • Barclays. The world's largest financial conglomerate based in Britain.
    • BNP Paribas. One of the European market leaders in banking, one of the six strongest banks in the world according to Standard & Poor's and one of the "big three" of the French banking market (along with Société Générale and Crédit Lyonnais).
    • Citibank. An international bank founded back in 1812 in New York.
    • Commerzbank. The banking group in Germany, which is the 4th largest bank in the country in terms of assets.
    • Credit Suisse. It ranks second among Swiss conglomerates (after UBS).
    • Goldman Sachs. An investment bank listed among the top six U.S. corporations and a shareholder in the Federal Reserve. It is considered an authority on financial forecasts. Its figures are included in the Dow Jones Industrial Average.

    The execution model - ECN (all trades are taken to the interbank, the company does not limit the work of the trader), which speaks in favor of the reliability of the data.

    FP Markets quotes

     

    Demo account fpmarkets.com

    For those who are not ready to trade with real money, it is possible to open a demo account (free training account). To open it, fill out the application form on the website fpmarkets.comName and surname, email address, phone, country of residence, currency - AUD/CAD/EUR/GBP/SGD/USD, terminal - MT4 or MT5, account type - Standard or RAW.

    FP Markets demo account

    Now there are three steps to take:

    • Confirm e-mail (you will receive an email with an activation link), provide information about date of birth, place of registration/residence, trading skills and accept the terms of the public offers.
    • Download and install the selected terminal.
    • Log in to your account (the account number is a six-digit number that will be displayed immediately after you fill out the form).

    Now find the Accounts section in your account and find the already created or add a new demo account (Add Demo Account). The balance will be 100 000 conventional units ("stamps"), which we will spend during training instead of real money. There is no time limit, but after zeroing the balance you will need to create a new demo account. Here you will also be able to activate a trading account, after prior verification and replenishment of your balance.

     

    FP Markets mobile app

    FP Markets does not have its own mobile application - the broker works with versions for narrow-format devices on Android and iOS of MetaTrader 4 and 5 terminals. Their functionality is the same as on the desktop. All types of assets are supported. Software is installed via Google Play Market and App Store. Log in using your username (account number) and password generated during the registration process on the site. The choice of platform, as we have already written, is carried out at the stage of account registration (account).

     

    Bonuses at FP Markets

    The company does not offer a bonus program in the form of cashback, contests and other gifts for activity. But on the website fpmarkets.com There is a good affiliate. Three partnership formats are available:

    • In the role of an Introducing Broker (IB - Introducing Broker). You earn a percentage from the commissions of your referrals (people who have registered with the broker by following the unique link that you have placed on your website/blog/social network page/forum, etc. - it is automatically generated after registration in the program).
    • Attracting clients with payment for conversions (payment for services on the site): You place banners, teasers and other advertising on your site and try to motivate traders to start working with FP Markets by legal means. Earnings are up to $800 per CPA (the program's intended action).
    • As a financial manager of PAMM accounts. As with the IP, you receive a share of the traders' (investors') commissions.
    • White Label. You become a broker yourself, and the software, promotional materials, support and everything else is provided to you by the company, to which you give part of the profit (a kind of tax).

    fpmarkets.com affiliate program

     

    Deposit and withdrawal

    Deposits, withdrawals and other operations with the account become available after verification. The minimum deposit amount is 50 USD. For Russian users are available:

    • Payment by bank card systems VISA, MasterCard. If through IRES with a commission of 1.6% for transactions in AUD and 3.18% for other currencies. Crediting within 1 business day.
    • Domestic and international bank transfers (FasaPay, SWIFT).
    • Transfers via GSD Pay, Neteller, Skrill, POLi Pay, PayTrust, PayPal, NuongLang. No fee (except for IRES system which charges 4%). Instant crediting / within a day depending on the agent.
    • BPay (fast top up service from bank account to Neteller). Processing within 12-24 hours. Commission is zero.

    In addition to transaction fees, there are also tax fees - they are not compensated by the broker. The transfers are processed in 24/5 mode (i.e., if you deposited money on Friday night, the payment may be postponed until Monday). Only cards, domestic transfers, international transfers (FasaPay, UnionPay, NganLuong, PayTrust), Skrill, Neteller and PayPal are available for withdrawal. Transaction processing fees are already paid by you (within 4%). To receive a payout, you must first make an application in the Withdraw section of the Funding personal cabinet menu item. The minimum amount is not specified.

     

    Complaints about FP Markets

    More 90% reviews, published on serious sites, demonstrate the good reputation of the broker. Traders note professional and fast support and no problems with withdrawal of funds.

    FP Markets reviews

    Complaints are mainly related to problems with registration and account connection, as well as intrusive, according to users, advertising.

    FP Markets reviews fpmarkets.com reviews

    If there are any reviews of complaints about FP Markets forex broker, we'll be sure to post the information on social media. Sign up so you don't miss anything!

    Please keep yourself informed about news and complaints. We copy the most valuable information to social networks, so please sign up!

     

    FP Markets broker regulator

    The broker is managed by several companies, each responsible for a different jurisdiction:

    • European FP Markets Ltd. is controlled by St. Vincent and the Grenadines, but it is not possible to confirm the information because this regulator does not provide public lists. By the way, not all traders consider it reliable.
    • Australian FP Markets Pty Ltd - Australian Securities & Investments Commission (ASIC). Registered under ASIC number ACN 154 461 104 (authorization active).

    By the way, FP Markets Ltd. in the lists of ASIC is also present, but no documents are not presented.

    Check the license of FP Markets Pty Ltd on the ASIC website

    User Agreement fpmarkets.com

    FP Markets' User Agreement (Retail Client Account Terms with Applications) is only available in the English version. We will analyze a few points of the policy so that you can get an idea of it. So, point 1.7 says that you can be allowed to open two or more accounts for one person (at the administration's discretion).

    FP Markets user agreement

    The Company is responsible for delays and errors in the transmission and execution of your orders - unless excluded by law. On the other hand, you can refuse to execute your order, put filters and restrictions at your discretion and without giving any reasons (clause 2.3).

    FP Markets responsibility

    Cooperation with you is carried out even if there is a conflict of interest. You must provide proof of identity (clause 6.4) at the request of the broker and keep your data up to date by notifying the company within 48 hours if there are any changes.

    fpmarkets.com identity confirmation

    All costs (due to lawsuits, claims, etc.) incurred by FP Markets and its partners/performers will be reimbursed by you. As well as any other expenses related to the account maintenance. FP Markets has the right to withdraw funds from your balance in order to meet obligations to other clients and partners. Claims on transactions should be sent within 48 hours after the occurrence of the events described in them, otherwise will not be accepted (clause 16.1).

    FP Markets claims and disputes

     

    Is FP Markets a scam?

    FP Markets - is a broker with a long history, a good reputation among traders, transparent and reasonable trading conditions (liquidity providers, commissions, spreads, leverage, account currencies, etc. information can be seen even before registration and providing personal information about yourself). In addition, it is regulated by ASIC.

    The company's right to use funds from client accounts to fulfill obligations to other users and partners, as well as the voluminous and non-russified user agreement can be called an unpleasant point. Still, we do not think that FP Markets is a scam. It's just that the provider seems to focus its attention on the European audience.

     

    Conclusion

    FP Markets offers profitable trading packages (with commissions, but low spreads or without commissions, but with higher spreads), the ability to open an Islamic account, trading advisors and investing in PAMM / MAMM. In addition, it does not prohibit hedging transactions. There is a lot of positive feedback about it and, what is particularly impressive, in such a mass of comments complaints are single.

    And the public offer (user agreement) fixes the broker's responsibility for delays and errors in execution and transmission of orders, which is a rare occurrence these days (usually companies try to pass it on to the client). From the disadvantages - poor Russification of the site, policies not translated from English (in spite of the fact that the service operates since 2005) and, as we have already written above, the right of the broker to dispose of client funds on the balance.

    Trading tools and assets
    60%
    Withdrawal speed
    60%
    Broker fee
    60%
    Technical support
    60%
    3.0

    Отзывы

    • Looking through the latest reviews in the...

      Looking through the latest reviews in the network, one can see quite a standard picture: there are both positive and negative comments about the work of FP Markets broker. Russian-speaking traders are less likely to leave their evaluations about the companies, preferring to write reviews only if there are any problems. Most of them concern the registration on the site — users complain about the long processing time and silence on the part of the support service. According to one user it took him over three weeks to register. FP Markets consultants would not accept documents sent and refused without explanation. The trader only received the answer 20 days after sending the scans which seems strange for a broker with a good reputation. Tell us, did you have any experience of working with FP Markets? How was the registration procedure like? Were there any problems during the account verification?

      Reply to this review
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