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 comparing FXCM and FP Markets based on commissions and fees, there are notable distinctions in their offerings. FXCM primarily offers forex trading and its pricing tends to be higher than the industry average. The standard account spreads for the EUR/USD pair, for instance, averaged 0.78 pips across various regions in May 2024, while spreads in the St. Vincent and the Grenadines entity were even higher at 1.38 pips. FXCM does, however, offer commission-based accounts with lower core spreads of 0.28 pips, not including commissions. Active traders at FXCM might benefit from a rebate program that provides a discount depending on trading volume, although it is not as competitive as some other brokers. FXCM has received a 4-star rating for commissions and fees and holds the 25th position out of 63 brokers according to ForexBrokers.com.
FP Markets is known for its highly competitive pricing, particularly for its commission-based ECN account options, which have garnered it the Best in Class accolades for Commissions and Fees in 2024. Its Raw ECN account boasts spreads averaging 0.1 pips as of October 2023, with an all-in cost of 0.8 pips including commissions. The broker also provides an Iress platform suite for share CFD trading, although the Iress ViewPoint accounts require a high balance or significant monthly commissions to avoid fees. For those preferring a more affordable option with less robust features, the Iress Investor account could be an alternative. FP Markets is highly rated with a 5-star review for commissions and fees, ranking 6th out of 63 brokers as per ForexBrokers.com.
In summary, while FXCM offers some rebates and discount programs, its overall pricing remains on the higher side. Meanwhile, FP Markets stands out for its cost-effectiveness and wide range of options tailored to active traders and those who can maintain higher account balances. Traders seeking lower fees and flexibility might gravitate towards FP Markets, which not only offers better pricing structures but also enjoys a higher ranking among industry peers.
| 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 in terms of available investments, the differences are quite noticeable for individual traders. Both brokers offer forex trading as CFDs, but FP Markets stands out with a strikingly diverse range of 10,000 tradeable symbols, overshadowing FXCM's 440 symbols. While FXCM provides access to 46 forex pairs, FP Markets surpasses this with 71 pairs, catering to those who seek variety in forex trading options. However, neither broker allows clients to directly purchase exchange-traded securities on U.S. or international exchanges, like Apple's shares on NASDAQ or Vodafone's shares on the London Stock Exchange. Traders interested in copy trading will find both brokers accommodating, offering this feature to their users.
In the realm of cryptocurrencies, both FXCM and FP Markets enable trading through derivative products rather than direct ownership of digital coins. Despite these similar offerings, FP Markets is rated higher with 4.5 stars for its range of investments compared to FXCM's 3.5 stars. Such distinctions are mirrored in their standing among a pool of 63 brokers, where FXCM ranks at #47 and FP Markets is considerably higher at #18. This suggests that FP Markets might better serve investors who seek a broader selection of trading options.
| Feature |
FXCM
|
FP Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 10000 |
| Forex Pairs (Total) | 46 | 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
|
FP Markets
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 95 | 89 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | FXCM | FP Markets | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 95 | 89 | |
| Winner | check_circle | ||
| Review | FXCM Review | FP Markets Review |
| Broker Screenshots | FXCM | FP Markets | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| 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) | 46 | 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 95 | 89 | |
| Winner | check_circle | ||
| Review | FXCM Review | FP Markets Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill