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 |
FP Markets stands out for its competitive pricing, particularly through its MetaTrader and cTrader platforms, making it a top choice for traders worldwide. Its commission-based ECN accounts offer remarkable value, as evidenced by its Best in Class honors for Commissions and Fees in the 2024 Annual Awards. The Raw ECN account features attractive spreads, averaging 0.1 pips, while the Standard account, though more expensive, averages spreads at 1.1 pips for EUR/USD. For those seeking share CFD trading, FP Markets’ Iress platform provides Direct Market Access with full depth of book visibility, though these accounts benefit active traders with high-balance profiles, owing to varied account options and minimum deposit requirements.
On the other hand, Spreadex provides competitive spreads, averaging 0.81 pips for EUR/USD as of January 2024, with a minimum spread of 0.6 pips achieved 60% of the time during the month. While it might not offer the same breadth of options as FP Markets, its straightforward approach and consistency in spread performance hold appeal for many traders. Despite differing in features and offerings, Spreadex maintains a solid reputation with a four-star rating.
In terms of ratings, FP Markets earns an impressive five stars for its commissions and fees, ranking #6 out of 62 brokers according to ForexBrokers.com. This positions FP Markets ahead in the competition, especially for those prioritizing low costs in trading. Spreadex, while ranked #27, still upholds a commendable four-star rating, making it a strong, albeit different, choice for traders focusing on spread consistency and simplicity.
| 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 an extensive selection of investments, each providing access to 10,000 tradable symbols and forex trading as a CFD or spot contract. However, they differ in the number of forex pairs available: FP Markets provides a wider range with 71 pairs, compared to Spreadex's 52. While neither broker allows clients to buy actual shares from U.S. or international stock exchanges, their investment options are rounded out by the ability to trade cryptocurrency derivatives.
In terms of unique features, FP Markets stands out with its copy trading service, which enables users to mirror the strategies of successful traders—a feature not available with Spreadex. Despite FP Markets' solid offering, Spreadex is rated higher overall for the range of investments, receiving 5 stars versus FP Markets' 4.5. Additionally, in the ForexBrokers.com ranking, Spreadex is positioned slightly ahead at #13, while FP Markets is ranked #18, signaling a competitive edge in the breadth of investment services offered.
| 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 trading platforms and tools, both brokers offer virtual demo accounts, allowing traders to practice with simulated trading. They each provide proprietary platforms developed in-house, offering unique trading environments. However, FP Markets sets itself apart with a Windows-based desktop trading platform and supports popular third-party platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), both not available at Spreadex. Additionally, FP Markets offers copy trading for users interested in mimicking other traders’ strategies, whereas Spreadex does not support this feature.
For traders interested in web-based platforms, both FP Markets and Spreadex offer browser access. When it comes to charting tools, FP Markets offers 17 drawing tools, slightly more than Spreadex’s 11. Both allow trading directly from stock charts, adding flexibility for traders. FP Markets and Spreadex are both rated four stars for trading platforms and tools. Ranking-wise, FP Markets holds a higher position at #23 compared to Spreadex’s #46 out of 62 brokers according to ForexBrokers.com. In terms of watch list customization, Spreadex offers more columns with eight, compared to seven provided by FP Markets.
| 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 comparing the mobile trading apps of FP Markets and Spreadex, both cater well to traders using iOS and Android devices. FP Markets and Spreadex provide essential features such as stock and forex price alerts and the ability to draw trendlines and view various time frames on charts. While both platforms allow the creation of watchlists with real-time quotes, neither supports watchlist symbol syncing between the mobile app and online accounts. FP Markets uses MetaTrader by default for technical studies, although details regarding Spreadex's charting tools remain unspecified.
FP Markets slightly edges out Spreadex in terms of chart interaction by saving drawings automatically, a feature that Spreadex lacks. Both platforms receive a solid four-star rating for their mobile trading apps, however, FP Markets ranks higher at 18th place compared to Spreadex at 46th, according to an evaluation by ForexBrokers.com. This places FP Markets as a more favorable option for traders seeking a mobile trading experience that combines essential features with higher industry recognition.
| 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 comparing FP Markets and Spreadex, both online brokers provide strong market research offerings, making them popular choices for traders seeking daily market insights. Both platforms offer daily market commentary and deliver forex news from top sources like Bloomberg and Reuters. Additionally, traders can access tools from Autochartist on both FP Markets and Spreadex, offering valuable technical and fundamental analysis to aid trading decisions. However, FP Markets stands out by also including tools from Trading Central, which Spreadex lacks. Both brokers have sentiment-based tools that display the ratio of long or short positions across various currency pairs, adding another layer of analysis for traders.
While neither FP Markets nor Spreadex feature research tools from companies like TipRanks or Acuity Trading, they both provide users with an economic calendar to keep track of global news events. Both brokers earn a research rating of four stars. However, based on rankings from ForexBrokers.com, FP Markets holds a slight edge, positioned at #25 out of 62 brokers, compared to Spreadex's #31 ranking. This difference may be a consideration for traders who prioritize having access to more diverse research tools and comprehensive analysis.
| 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 valuable educational resources for those looking to delve into the world of forex and CFDs. With a variety of articles, videos, and archived webinars, each broker provides more than 10 educational pieces aimed at beginners. However, FP Markets offers an edge with its monthly client webinars and a searchable archive of past sessions, a feature not provided by Spreadex. This makes FP Markets a more appealing choice for traders who prefer interactive learning experiences and the ability to revisit past webinars for deeper understanding.
For video content, both FP Markets and Spreadex present a broad selection tailored specifically for beginners, ensuring new traders have a solid foundation. Yet, FP Markets goes a step further by offering advanced educational videos for seasoned traders seeking more challenging material. Both brokers offer an investor dictionary with over 50 terms, helping users build a strong technical vocabulary. Despite both receiving a 4-star rating for education, FP Markets is ranked higher at #23, while Spreadex sits at #45. This suggests FP Markets provides a more comprehensive educational experience overall.
| 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 62 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
|
|---|---|---|
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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 |
| Broker Screenshots | FP Markets | Spreadex | |
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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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