Written by ForexBrokers.com
In this head to head comparison of FP Markets vs Spreadex, 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 Spreadex, founded in 1999, are both prominent online brokers catering to a diverse clientele. Neither of these brokers is publicly traded nor operates as a bank. When it comes to regulatory credentials, FP Markets holds a strong position with two Tier-1 licenses and one Tier-2 license, indicating a high level of trust and regulation. In contrast, Spreadex has one Tier-1 license but lacks Tier-2 licenses, reflecting its regulatory stance.
According to ForexBrokers.com, FP Markets earns a Trust Score of 89, marking it as a trusted broker. Meanwhile, Spreadex has a Trust Score of 71, placing it at an average risk level. Overall, FP Markets ranks higher in terms of regulatory trust and oversight, likely appealing to traders seeking a more secure trading environment.
| Feature |
FP Markets
|
Spreadex
|
|---|---|---|
| Year Founded | 2005 | 1999 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing FP Markets and Spreadex, FP Markets stands out for its competitive pricing, particularly in its commission-based ECN accounts. With its pricing system through MetaTrader and cTrader platforms, FP Markets is considered one of the most cost-effective brokers globally. The broker has earned Best in Class recognition for Commissions and Fees in the 2024 Annual Awards, highlighting its exceptional value. Specifically, FP Markets' Raw ECN account features competitive spreads, averaging 0.1 pips, which translates to 0.8 pips all-in after including a commission fee of $6 per round-turn standard lot. On the flip side, the standard account option is more expensive, with spreads averaging 1.1 pips for EUR/USD in October 2023.
Spreadex, on the other hand, provides an average spread of 0.81 pips for EUR/USD as of January 2024, with a minimum spread of 0.6 pips available 60% of the time during the month. While Spreadex offers competitive spreads, FP Markets tends to provide lower operational costs, particularly for traders opting for FP Markets' commission-based accounts. This significant difference in cost-effectiveness makes FP Markets a popular choice among traders looking to minimize fees. Despite Spreadex’s respectable pricing, FP Markets retains a superior price structure.
In terms of ratings, FP Markets achieved a perfect score of 5 out of 5 stars for commissions and fees, ranking #6 out of 63 brokers according to ForexBrokers.com. Spreadex, while commendable, received a 4 out of 5-star rating and ranks #27 in the same category. This comparison highlights FP Markets' commitment to offering cost-efficient trading conditions that cater to a broader spectrum of traders, making it a strong contender against Spreadex in the commissions and fees landscape.
| Feature |
FP Markets
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $100 AUD | $0 |
| Average Spread EUR/USD - Standard | 1.2 | 0.81 |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| 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.
FP Markets and Spreadex both offer forex trading as CFDs or spot contracts, ensuring access to a wide variety of trading options. Each platform provides 10,000 tradeable symbols, presenting ample choices for traders. While FP Markets delivers 71 tradeable forex pairs, which is more than the 52 offered by Spreadex, both brokers fall short when it comes to allowing clients to trade exchange-traded securities, such as Apple shares on U.S. exchanges or Vodafone shares on international exchanges. Furthermore, neither FP Markets nor Spreadex facilitates the buying of actual cryptocurrency, although they both offer cryptocurrency derivatives.
For traders interested in copy trading, FP Markets stands out as the preferable option as it offers this feature, while Spreadex does not. Despite these differences in features, Spreadex is acclaimed with a 5-star rating for the range of investments, slightly surpassing FP Markets' commendable 4.5-star rating. Within the ranking of 63 brokers by ForexBrokers.com, Spreadex is positioned at #13 for its investment range, whereas FP Markets holds the #18 spot, reflecting different strengths in their investment portfolios.
| Feature |
FP Markets
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 10000 |
| Forex Pairs (Total) | 71 | 52 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| 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.
When comparing FP Markets and Spreadex for their trading platforms and tools, both brokers offer free virtual demo accounts for simulated trading and have their own proprietary platforms. FP Markets stands out by offering MetaTrader 4 and MetaTrader 5, in addition to a Windows-based desktop platform for users who prefer installation on their computer, whereas Spreadex does not offer these. Both brokers provide web-based trading platforms accessible through a browser, ensuring convenience for traders on the go. When it comes to copy trading, FP Markets provides this feature, adding flexibility for those who wish to replicate the strategies of successful traders, while Spreadex lacks this option.
FP Markets presents a diverse set of 17 drawing tools for charting, marginally surpassing Spreadex's 11 tools. Both platforms allow trading directly from stock charts, which is a useful feature for quick decision-making. In terms of watch list customization, Spreadex offers a slightly broader range with 8 columns available, compared to FP Markets' 7. Despite these differences, both brokers achieve a solid 4-star rating for their trading platforms and tools. However, FP Markets ranks higher at #23 in the Trading Platforms and Tools category at ForexBrokers.com, compared to Spreadex's #46 position, making FP Markets a slightly more preferable choice for traders focusing on platform capabilities.
| Feature |
FP Markets
|
Spreadex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 58 |
| Charting - Drawing Tools (Total) | 17 | 11 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 8 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both FP Markets and Spreadex cater to iPhone and Android users, offering features such as price alerts and the ability to create watchlists with real-time quotes. FP Markets stands out with its MetaTrader charting capabilities and auto-saving feature for chart drawings, which isn't available with Spreadex. However, neither platform provides watchlist syncing between mobile apps and online accounts, which might be a consideration for traders who rely heavily on this feature. Notably, both platforms allow users to draw trendlines and view different time frames on charts, providing a versatile experience for chart analysis.
Despite both receiving a 4-star rating for their mobile trading apps, FP Markets edges out with a higher ranking at #18, compared to Spreadex's #46, among 63 brokers per ForexBrokers.com. Such a difference may influence traders looking for a comprehensive mobile trading experience. Overall, while both apps deliver on the essential trading functionalities, FP Markets offers a few additional benefits that might appeal to traders seeking more advanced charting tools and integrations.
| Feature |
FP Markets
|
Spreadex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | N/A |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to daily market commentary, both FP Markets and Spreadex cater to traders by providing valuable insights. They also ensure their users are kept informed with forex news from leading sources such as Bloomberg, Reuters, and Dow Jones. For traders who rely on technical analysis tools, both platforms offer resources from Autochartist. However, FP Markets takes a step further by incorporating additional tools from Trading Central, which Spreadex lacks. Furthermore, both brokers provide sentiment-based trading tools, offering traders the advantage of gauging market trends with insights into long and short positions across various instruments.
In terms of extended research offerings, neither FP Markets nor Spreadex includes services from TipRanks or Acuity Trading. Nevertheless, both platforms present comprehensive economic calendars to keep traders updated on global economic events. Despite these similarities, FP Markets is slightly ahead in the research rankings as per ForexBrokers.com, sitting at 25th out of 63 brokers, while Spreadex is ranked at 31st. Each broker has been awarded a respectable four-star rating for research, underlining their commitment to providing rich market insights and resources for traders of all experience levels.
| Feature |
FP Markets
|
Spreadex
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| 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.
FP Markets and Spreadex both offer a decent range of educational materials for beginners interested in forex and CFDs. Each platform provides a wealth of over ten pieces, including articles, videos, and webinars. However, FP Markets extends its educational offerings with monthly live webinars and a library of recorded sessions that beginners can search through at their convenience. While both platforms cater to newcomers with beginner trading videos, FP Markets goes a step further by also offering advanced educational videos for seasoned traders.
In addition to video content, both brokers include an investor dictionary with over 50 investing terms, aiding beginners in understanding key trading concepts. Despite offering fairly similar educational resources, differences arise in rankings and content. FP Markets is rated slightly higher and is ranked 23rd by ForexBrokers.com when it comes to education, while Spreadex sits at 45th. Both platforms receive a four-star rating for education, showing they are valuable resources for traders but with FP Markets offering a few additional features for continued learning.
| Feature |
FP Markets
|
Spreadex
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| 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 Spreadex. FP Markets finished with an overall rank of #19, while Spreadex finished with an overall rank of #39.
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
|
Spreadex
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 71 |
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Both FP Markets and Spreadex do not offer the ability to purchase actual (delivered) cryptocurrency, but they both provide options for buying cryptocurrency derivatives.
FP Markets and Spreadex both support Visa, Mastercard, and bank wires for depositing or withdrawing funds, but FP Markets additionally offers PayPal and Skrill, unlike Spreadex, which does not support these options; however, neither broker provides ACH or 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 | FP Markets | Spreadex | |
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| Trust Score | 89 | 71 | |
| Winner | check_circle | ||
| Review | FP Markets Review | Spreadex Review |
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| Regulation | FP Markets | Spreadex | |
|---|---|---|---|
| Trust Score | 89 | 71 | |
| Year Founded | 2005 | 1999 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | Spreadex | |
|---|---|---|---|
| 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 | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | FP Markets | Spreadex | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FP Markets | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 10000 | |
| Forex Pairs (Total) | 71 | 52 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | Spreadex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 0.81 | |
| 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 | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $0 | |
| 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 | No |
| Trading Platforms | FP Markets | Spreadex | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | Spreadex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 8 | |
| Charting - Indicators / Studies (Total) | 30 | 58 | |
| Charting - Drawing Tools (Total) | 17 | 11 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | Spreadex | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | N/A | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FP Markets | Spreadex | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | Spreadex | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FP Markets | Spreadex | |
|---|---|---|---|
| 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 | Spreadex Review |
| Overall | FP Markets | Spreadex | |
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| Trust Score | 89 | 71 | |
| Winner | check_circle | ||
| Review | FP Markets Review | Spreadex Review |
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