Written by ForexBrokers.com
In this head to head comparison of FP Markets vs FXGT.com, 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.
FP Markets, established in 2005, and FXGT.com, founded in 2019, are both online brokers not listed on any stock exchange and are not banks. In terms of regulatory strength, FP Markets holds two Tier-1 licenses and one Tier-2 license, indicating a strong level of trust. FXGT.com, on the other hand, has one Tier-1 license and one Tier-2 license, suggesting it's reliable but not as highly regarded as FP Markets. According to ForexBrokers.com, FP Markets earns a Trust Score of 89, placing it in the "trusted" category, while FXGT.com scores 69, ranking it as high risk.
Choosing between these two brokers depends on one’s preference for established history and regulatory backing. FP Markets, with its longer presence in the industry and higher Trust Score, may appeal more to those who prioritize trust and stability. Meanwhile, FXGT.com, with solid regulatory oversight, might attract those who are willing to consider brokers that are newer to the market. Both brokers provide trustworthy trading environments, but FP Markets edges ahead with a more favorable and reliable reputation.
| Feature |
FP Markets
|
FXGT.com
|
|---|---|---|
| Year Founded | 2005 | 2019 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
When comparing commissions and fees, FP Markets emerges as one of the most competitive brokers, especially for traders using its commission-based ECN accounts. Offering a variety of platforms including MetaTrader and cTrader, FP Markets provides traders with competitive pricing, notably with its Raw ECN account that offers spreads averaging 0.1 pips and a flat commission of $6 per standard lot for forex trading. While its Iress ViewPoint account option caters to active traders with high-balance accounts, its Iress Investor account offers a more cost-effective, albeit minimalistic, option. FP Markets holds a 5-star rating and is ranked #6 out of 63 brokers for commissions and fees by ForexBrokers.com.
In contrast, FXGT.com offers limited data on average spreads, which makes its fee structure less transparent than FP Markets. Despite this, FXGT.com provides a platform conducive to trading with an acceptable fee system. The broker rates 3.5 out of 5 stars in the commissions and fees category and is ranked at #56 by ForexBrokers.com. This indicates that while FXGT.com offers moderate fees, it does not match the competitive pricing of FP Markets, particularly for active traders seeking lower-cost trading options.
Overall, FP Markets is a preferable choice for traders looking for cost-efficient trading with transparent pricing and competitive spreads. It provides a robust suite of options catering to different trading styles, ranging from budget-conscious to high-balance account holders. Meanwhile, FXGT.com, although less expensive overall, presents fewer perks in terms of competitive pricing and advanced features compared to FP Markets.
| Feature |
FP Markets
|
FXGT.com
|
|---|---|---|
| Minimum Deposit | $100 AUD | $5 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing FP Markets and FXGT.com, it's clear that both platforms offer forex trading options through CFDs or spot contracts, appealing to those interested in the dynamic currency market. FP Markets provides a significantly broader selection of tradeable symbols, boasting an impressive 10,000 options compared to FXGT.com's 117. This extensive variety positions FP Markets as a versatile platform for traders who seek diversity in their investment portfolios. Additionally, FP Markets outshines in its offering of tradeable forex pairs, presenting 71 pairs compared to FXGT.com's 53. Both platforms, however, do not support the purchase of actual securities from the U.S. or international exchanges, nor do they allow for the direct purchase of cryptocurrencies. Instead, they facilitate investments in cryptocurrency derivatives.
For those interested in social trading, both FP Markets and FXGT.com offer copy trading features, enhancing the user experience by allowing clients to mimic the trades of successful investors. Despite these similarities, FP Markets has a higher rating of 4.5 stars for its range of investments, as opposed to FXGT.com's 3-star rating, reflecting the more comprehensive investment options available. Ranked 18th out of 63 brokers by ForexBrokers.com, FP Markets enjoys a significantly better standing in the investments category compared to FXGT.com, which is ranked 61st. This comparison indicates that FP Markets may be the preferred choice for traders seeking a wider array of investment opportunities.
| Feature |
FP Markets
|
FXGT.com
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 117 |
| Forex Pairs (Total) | 71 | 53 |
| 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.
FP Markets and FXGT.com both offer a range of trading platforms and tools that cater to diverse trader needs. Both brokers provide free virtual demo accounts to help beginners practice trading without financial risk. For those who prefer desktop applications, both FP Markets and FXGT.com have Windows-based platforms readily available. Web-based platforms are also offered by both brokers, allowing traders to access their accounts conveniently from any browser. Notably, FP Markets distinguishes itself by providing a proprietary platform developed in-house, something FXGT.com does not offer. Both brokers, however, support popular third-party platforms like MetaTrader 4 and MetaTrader 5, and they include copy trading functionalities to enhance trading strategies.
When it comes to charting tools, FXGT.com edges ahead with 23 drawing tools compared to FP Markets' 17. Both brokers support trading directly from stock charts, which is a handy feature for active traders. FP Markets offers more customization with watch lists, providing seven columns or fields for data display, whereas FXGT.com offers five. Despite both earning a four-star rating for their platforms and tools, FP Markets is ahead in the industry ranking at 23 out of 63 brokers according to ForexBrokers.com, while FXGT.com is positioned at 56. This suggests that while both brokers offer comprehensive trading solutions, FP Markets might provide a slightly more versatile and competitive package for traders seeking advanced features.
| Feature |
FP Markets
|
FXGT.com
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 37 |
| Charting - Drawing Tools (Total) | 17 | 23 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 5 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing FP Markets and FXGT.com mobile trading apps, both platforms provide iPhone and Android apps with essential features like price alerts, trendline drawing capabilities, and multiple time frame views for chart analysis. FP Markets, leveraging the MetaTrader default system, offers a familiar environment for seasoned traders. In contrast, FXGT.com stands out by offering 30 built-in technical studies, providing users with ample tools for technical analysis right at their fingertips.
One of the significant differences between the two is the ability to sync watchlist symbols. FXGT.com allows seamless syncing between the mobile app and the client's online account, ensuring watchlists are always updated, while FP Markets lacks this feature. Both apps support real-time quote watchlists and automatically save chart drawings, enhancing user convenience. In ratings, FP Markets scores higher with 4 out of 5 stars, ranking 18th out of 63 brokers according to ForexBrokers.com, whereas FXGT.com holds a 3.5-star rating and ranks 58th. These distinctions might influence your choice based on the importance of specific features and overall app performance.
| Feature |
FP Markets
|
FXGT.com
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 |
| 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.
FP Markets stands out in the realm of market research by offering daily market commentary and accessing forex news from respected sources like Bloomberg and Reuters. It also provides valuable tools for technical and fundamental analysis from companies such as Autochartist and Trading Central. A sentiment-based trading tool that displays the ratio of long or short positions across various instruments is also available, alongside an economic calendar for tracking global economic events. On the other hand, FXGT.com does not provide forex news from top-tier sources and lacks the advanced research tools available from Autochartist and Trading Central. However, it matches FP Markets by offering a sentiment-based trading tool and an economic calendar.
When it comes to research capabilities, FP Markets is rated at four stars, while FXGT.com holds a rating of three stars. In a comparison by ForexBrokers.com, FP Markets ranks as the 25th broker out of 63 for its research offerings, clearly ahead of FXGT.com, which ranks at 56th. Both brokers do not offer market research from TipRanks or Acuity Trading's Signal Centre, indicating room for improvement in their research services.
| Feature |
FP Markets
|
FXGT.com
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners seeking online broker platforms with a solid foundation in educational resources, FP Markets stands out in comparison to FXGT.com. FP Markets offers a wealth of educational materials, including more than 10 articles and videos focused on forex and CFDs. In addition, it hosts monthly online educational webinars and provides a searchable archive of past sessions. Beginners and experienced traders alike can find value in their extensive library of educational videos tailored to both introductory and advanced trading topics. An added benefit is the investor dictionary that includes definitions of over 50 investing terms.
On the other hand, FXGT.com falls short in offering a similar breadth of educational resources. It lacks the minimum educational pieces on forex and CFDs and does not conduct regular webinars. The absence of archived webinar recordings and a limited selection of beginner and advanced educational videos might make it less appealing for those new to trading. However, like FP Markets, FXGT.com provides an investor dictionary with an equivalent glossary of terms. According to ForexBrokers.com, FP Markets receives a higher rating of 4 out of 5 stars for education, ranking 23rd among 63 brokers, whereas FXGT.com earns 3 stars, ranked 60th.
| Feature |
FP Markets
|
FXGT.com
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| 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 FP Markets is better than FXGT.com. FP Markets finished with an overall rank of #19, while FXGT.com finished with an overall rank of #59.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
|
FXGT.com
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 69 |
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Both FP Markets and FXGT.com provide the option to trade cryptocurrency derivatives but neither offers the opportunity to purchase actual (delivered) cryptocurrencies.
FP Markets offers PayPal, Skrill, Visa, Mastercard, and bank wires but lacks ACH or SEPA transfer options, while FXGT.com provides ACH and SEPA transfers alongside Visa, Mastercard, and bank wires, yet does not support PayPal or Skrill.
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 | FP Markets | FXGT.com | |
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| Trust Score | 89 | 69 | |
| Winner | check_circle | ||
| Review | FP Markets Review |
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| Regulation | FP Markets | FXGT.com | |
|---|---|---|---|
| Trust Score | 89 | 69 | |
| Year Founded | 2005 | 2019 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | FXGT.com | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | 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) | No | 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) | FP Markets | FXGT.com | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | 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 | FP Markets | FXGT.com | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 117 | |
| Forex Pairs (Total) | 71 | 53 | |
| 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 | FP Markets | FXGT.com | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | FXGT.com | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $5 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | FP Markets | FXGT.com | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | FXGT.com | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 5 | |
| Charting - Indicators / Studies (Total) | 30 | 37 | |
| Charting - Drawing Tools (Total) | 17 | 23 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | FXGT.com | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 | |
| 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 | FP Markets | FXGT.com | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | FXGT.com | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FP Markets | FXGT.com | |
|---|---|---|---|
| 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 | FP Markets Review |
| Overall | FP Markets | FXGT.com | |
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| Trust Score | 89 | 69 | |
| Winner | check_circle | ||
| Review | FP Markets Review |
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