Written by ForexBrokers.com
In this head to head comparison of FXCM vs FP Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXCM, established in 1999, and FP Markets, founded in 2005, are both well-regarded online brokers catering to forex traders. One major distinction between the two is that FXCM is publicly traded, providing an added layer of transparency, while FP Markets is privately held. Neither broker is a bank, ensuring they focus on trading services. In terms of regulatory oversight, FXCM holds four Tier-1 licenses and two Tier-2 licenses, which contribute to its impressive Trust Score of 95, indicating it's highly trusted.
FP Markets, on the other hand, holds two Tier-1 licenses and one Tier-2 license, earning it a still respectable Trust Score of 89, marking it as trusted. This comparison highlights that both brokers are reliable choices, with FXCM having the edge due to its higher trust rating and public company status.
| Feature |
FXCM
|
FP Markets
|
|---|---|---|
| Year Founded | 1999 | 2005 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 2 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When considering commissions and fees, FXCM and FP Markets present traders with different pricing structures. FXCM offers slightly above-average pricing in the forex market with standard account spreads, averaging 0.78 pips for its EU, U.K., and Australia clients in May 2024. However, for traders using its St. Vincent and the Grenadines entity, the average spreads increase to 1.38 pips. Commission-based accounts typically show an average spread of 0.28 pips, excluding commission. FXCM's Active Trader Rebate Program, although not available in the U.K. or EU, provides rebates ranging from $5 to $25 per million traded, depending on the trader's tier, but the pricing remains less competitive compared to some rivals.
FP Markets, on the other hand, sets itself apart with highly competitive pricing through its MetaTrader and cTrader platforms. The Raw ECN account offers particularly appealing spreads, averaging 0.1 pips as of October 2023, with an all-in cost of 0.8 pips after commission. Meanwhile, their Standard account offers less appealing spreads of about 1.1 pips. In contrast, FP Markets' Iress ViewPoint account is tailored towards active, high-balance traders, requiring minimum monthly commissions to forego platform fees. The broker's competitive pricing has earned it accolades, securing a Best in Class award and ranking as the 6th out of 63 brokers by ForexBrokers.com in the Commissions and Fees category.
Overall, FP Markets scores a stellar 5 stars for its commissions and fees, highlighting its cost-effectiveness, whereas FXCM receives 4 stars, signaling slightly higher trading costs. FXCM ranks 24th out of 63 in the same category, reflecting its competitive, yet not industry-leading, pricing strategy. For traders prioritizing cost-efficiency, particularly those seeking commission-based forex trading, FP Markets might be the more attractive option.
| Feature |
FXCM
|
FP Markets
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $100 AUD |
| Average Spread EUR/USD - Standard | 0.78 | 1.2 |
| All-in Cost EUR/USD - Active | 0.78 | 0.7 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing FXCM and FP Markets, both platforms offer forex trading as contracts for difference (CFDs), but the scope of their offerings diverges significantly. FXCM provides access to 440 tradeable symbols, including 43 forex pairs, while FP Markets stands out with a remarkable 10,000 tradeable symbols, featuring 71 forex pairs. Neither broker offers direct access to exchange-traded securities on U.S. or international exchanges, meaning clients cannot purchase stocks like Apple or Vodafone directly through their platforms. However, both offer copy trading, allowing users to mimic the trades of successful investors, and they also provide cryptocurrency derivatives, although not the actual cryptocurrencies themselves.
In terms of variety, FP Markets earns a higher rating, with an impressive 4.5 stars, compared to FXCM's 3.5 stars. This superior rating is reflected in their rankings, where FP Markets is placed at #18 in the Range of Investments category by ForexBrokers.com, while FXCM finds itself near the bottom at #47. This clear distinction highlights FP Markets as the preferred choice for traders seeking a broader array of investment options.
| Feature |
FXCM
|
FP Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 10000 |
| Forex Pairs (Total) | 43 | 71 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
Both FXCM and FP Markets provide a comprehensive suite of trading platforms and tools to enhance the trading experience for users. FXCM's offerings include a proprietary platform, along with compatibility for MetaTrader 4 (MT4) and ZuluTrade, although it lacks support for MetaTrader 5 (MT5). The broker enables simulated trading with a virtual demo account and offers both desktop and web-based platforms. FXCM stands out with the ability to trade directly from stock charts and a generous 13 columns for watch lists, allowing traders to better analyze market data. With a five-star rating for trading platforms and tools and a sixth-place ranking out of 63 brokers by ForexBrokers.com, FXCM is a robust choice for both new and experienced traders.
FP Markets also provides an array of trading tools, offering both proprietary and MetaTrader platforms, including support for the latest version, MT5. However, it lacks integration with ZuluTrade, which might be a drawback for some users. FP Markets provides simulated trading through a demo account and offers both desktop and web-based platforms. While FP Markets excels with 17 drawing tools for charting, its watch list functionality is somewhat limited with only seven columns compared to FXCM. Rated four stars and ranked 23rd by ForexBrokers.com for its trading platforms and tools, FP Markets offers a strong trading environment, particularly excelling in drawing tools while being less versatile in some other aspects.
| Feature |
FXCM
|
FP Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Drawing Tools (Total) | 10 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FXCM and FP Markets both offer mobile trading apps for iPhone and Android, making it easy to trade on the go. Both apps provide features like stock and forex price alerts, and the ability to draw trendlines and view multiple time frames on charts. However, FXCM stands out with its watchlist sync capability, allowing users to seamlessly update their watchlists between the mobile app and their online accounts. In contrast, FP Markets lacks this feature. Additionally, FXCM offers a more extensive selection of 59 technical studies compared to the default options available on FP Markets' MetaTrader platform.
When it comes to user experience, both apps allow for real-time quotes and auto-save drawing features on trading charts. FXCM, scoring 4.5 stars, is rated slightly higher than FP Markets, which holds a 4-star rating. According to ForexBrokers.com, FXCM ranks #16, a couple of spots ahead of FP Markets at #18, in the Mobile Trading Apps category. These distinctions could make FXCM the preferred choice for traders looking for more integrated mobile trading features and a higher-rated user experience.
| Feature |
FXCM
|
FP Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | MetaTrader (Default) |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research offerings for online brokers, both FXCM and FP Markets deliver daily market commentary and access to forex news from respected sources like Bloomberg and Reuters. However, FXCM stands out with its inclusion of market research from the company TipRanks, adding an extra layer of insights not found with FP Markets. On the other hand, FP Markets provides access to Autochartist tools for technical and fundamental research, which FXCM does not offer. Both brokers supply resources from Trading Central and offer tools to gauge market sentiment through position ratios. They also provide economic calendars to keep traders informed of global news events.
Review scores and rankings further distinguish these platforms; FXCM earns a 4.5-star rating for market research, securing the 11th spot out of 63 brokers as ranked by ForexBrokers.com. In contrast, FP Markets receives a respectable 4-star rating, landing the 25th position in the same category. These factors make FXCM a slightly more favored choice for those emphasizing comprehensive research tools and insights, while FP Markets may appeal to traders interested in the unique offerings from Autochartist.
| Feature |
FXCM
|
FP Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both FXCM and FP Markets offer a solid lineup tailored to help newcomers navigate the world of forex and CFDs. Each provides a variety of educational materials, including over ten articles, videos, and archived webinars focused on key trading topics. In addition, both brokers host online educational webinars at least once a month, complemented by a searchable archive of past webinars. For those just starting, both brokers offer at least ten video tutorials aimed at beginners, while also catering to more seasoned traders with advanced video content. To aid in understanding complex trading terminology, both brokers feature an investor dictionary with over 50 defined terms.
Although both FXCM and FP Markets provide a comprehensive suite of educational resources, there is a slight distinction in their ratings. FXCM earns a commendable 4.5 stars in education, securing the 14th spot among 63 brokers according to ForexBrokers.com. Meanwhile, FP Markets receives a respectable 4-star rating, ranking it 23rd in the same category. This suggests that while both offer quality educational tools, FXCM has a slight edge in terms of user satisfaction and overall ranking in the educational domain.
| Feature |
FXCM
|
FP Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that FXCM is better than FP Markets. FXCM finished with an overall rank of #15, while FP Markets finished with an overall rank of #19.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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FP Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 89 |
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Both FXCM and FP Markets provide the option to trade cryptocurrency derivatives rather than actual cryptocurrencies, as neither platform offers the capability to purchase the actual, delivered cryptocurrency.
FXCM offers more flexibility in funding methods, providing ACH, SEPA, PayPal, Skrill, Visa or Mastercard, and bank wire options, while FP Markets supports PayPal, Skrill, Visa or Mastercard, and bank wires, but lacks ACH and SEPA transfer options.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | FXCM | FP Markets | |
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| Trust Score | 95 | 89 | |
| Winner | check_circle | ||
| Review | FXCM Review | FP Markets Review |
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| Regulation | FXCM | FP Markets | |
|---|---|---|---|
| Trust Score | 95 | 89 | |
| Year Founded | 1999 | 2005 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 2 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXCM | FP Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FXCM | FP Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FXCM | FP Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 10000 | |
| Forex Pairs (Total) | 43 | 71 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | FXCM | FP Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.78 | 0.7 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | FP Markets | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $100 AUD | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FXCM | FP Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | FXCM | FP Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 10 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | FP Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 59 | MetaTrader (Default) | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FXCM | FP Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | FP Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FXCM | FP Markets | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | FXCM Review | FP Markets Review |
| Overall | FXCM | FP Markets | |
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| Trust Score | 95 | 89 | |
| Winner | check_circle | ||
| Review | FXCM Review | FP Markets Review |
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