Written by ForexBrokers.com
In this head to head comparison of FP Markets vs Xtrade, 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 and Xtrade are both online brokers offering various trading services, but they differ significantly in regulatory trustworthiness. Founded in 2005, FP Markets holds 2 Tier-1 licenses and 1 Tier-2 license, giving it a Trust Score of 89 out of 99, which indicates a high level of trust according to ForexBrokers.com. Although FP Markets is not publicly traded and isn't a bank, its licensing credentials contribute to its strong reputation among traders.
In contrast, Xtrade, founded in 2003, possesses 1 Tier-1 license and 1 Tier-2 license, resulting in a Trust Score of 74. This score signifies an average risk level, per ForexBrokers.com's rating system. Like FP Markets, Xtrade is neither publicly traded nor a bank. While Xtrade provides a reliable service, its lower Trust Score and fewer top-tier licenses make FP Markets a more trusted choice for those prioritizing regulatory oversight.
| Feature |
FP Markets
|
Xtrade
|
|---|---|---|
| Year Founded | 2005 | 2003 |
| 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 | 1 |
When comparing FP Markets and Xtrade in terms of commissions and fees, FP Markets clearly stands out as the more cost-effective choice. Their competitive pricing is enhanced through its MetaTrader and cTrader offerings, especially for the commission-based ECN account, which makes it particularly appealing to traders worldwide. The Raw ECN account with FP Markets features low spreads averaging 0.1 pips and a flat $6 commission per round-turn standard lot in forex trades. However, traders should note that their Iress ViewPoint account options are more suited for active traders with larger accounts due to higher costs. Contrarily, Xtrade does not provide average spread data, making it challenging to assess its cost-effectiveness directly.
FP Markets has earned recognition in the form of "Best in Class" for Commissions and Fees in the 2024 Annual Awards, thanks to its transparent and appealing pricing strategy. With a 5-star rating for commissions and fees, FP Markets ranks at an impressive #6 out of 63 brokers. The Iress platform from FP Markets also caters to different trader needs, from the more economical Iress Investor account with fee waivers but limited features, to the feature-rich yet costlier ViewPoint accounts. Active traders looking for a substantial balance may still find competitively priced alternatives elsewhere, such as Saxo or CMC Markets.
On the other hand, Xtrade, which does not disclose average spread data, receives a 2.5-star rating for its commissions and fees and ranks far lower at #63 out of 63 brokers. This suggests that Xtrade's pricing might not be as trader-friendly or transparent when compared to FP Markets. Overall, traders seeking to minimize costs and maximize the value of their investments may find FP Markets to be the more desirable option between the two brokers.
| Feature |
FP Markets
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $100 AUD | $250 |
| 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 | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| 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 it comes to the variety of available investments, FP Markets and Xtrade each present viable options for traders, although there are notable differences in their offerings. FP Markets stands out with an extensive selection of 10,000 tradeable symbols, including 71 forex pairs, allowing traders a broad scope to explore various markets. In contrast, Xtrade offers a more focused range, with 482 tradeable symbols and 56 forex pairs. While both brokers provide opportunities for forex trading through CFDs, neither delivers actual cryptocurrency or exchange-traded securities on U.S. or international exchanges. However, both do offer cryptocurrency derivatives, with FP Markets also supporting copy trading, a feature that could appeal to those looking to mirror the trades of experienced investors.
In the realm of investment diversity, FP Markets is rated 4.5 stars and ranks 18th among 63 brokers, suggesting a strong preference among traders who seek a diverse portfolio. Xtrade, while still a reliable platform, garners a rating of 3.5 stars and occupies the 49th position, indicating a more limited range of investment options. This comparison highlights FP Markets as a compelling choice for traders who prioritize a wide selection of investment opportunities and tools, whereas Xtrade maintains a focus on essentials for those who prefer a more streamlined approach.
| Feature |
FP Markets
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 482 |
| Forex Pairs (Total) | 71 | 56 |
| 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.
FP Markets and Xtrade both provide traders with comprehensive online platforms and specialized tools designed to enhance the trading experience. FP Markets distinguishes itself with a variety of platform options, including a proprietary platform as well as MetaTrader 4 and MetaTrader 5, which are renowned for their versatility and reliability. Additionally, FP Markets supports a downloadable Windows-based platform, a web-based trading platform, and even supports copy trading to broaden trading strategies for its users. Conversely, Xtrade offers its own proprietary platform along with a web-based trading option but lacks a downloadable Windows-based platform and does not support copy trading.
When it comes to charting capabilities, Xtrade provides an impressive array of 100 drawing tools compared to FP Markets' 17, though both allow trading directly from stock charts for added convenience. Xtrade also provides a more extensive watch list section with nine customizable columns. Despite these features, FP Markets is rated higher for trading platforms and tools with a four-star rating, while Xtrade holds a 3.5-star rating. In the ForexBrokers.com rankings, FP Markets is positioned at #23, significantly ahead of Xtrade which is ranked at #58. Both platforms offer demo accounts, enabling new and seasoned traders to explore their features risk-free.
| Feature |
FP Markets
|
Xtrade
|
|---|---|---|
| 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 | N/A |
| Charting - Drawing Tools (Total) | 17 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both FP Markets and Xtrade provide iPhone and Android applications, allowing traders to manage their investments on-the-go. However, FP Markets offers a more feature-rich experience compared to Xtrade. For traders who rely on alerts to stay updated, FP Markets provides stock or forex price notifications, something Xtrade does not offer. While neither broker supports watchlist syncing across devices, FP Markets users can create watchlists with real-time quotes, a feature Xtrade lacks. Additionally, FP Markets excels in charting capabilities by allowing users to draw trendlines, view multiple time frames, and have their drawings automatically saved, ensuring a seamless technical analysis process. On the contrary, Xtrade does not support these advanced charting functions.
Despite both brokers receiving a four-star rating for their mobile trading apps, FP Markets is ranked significantly higher, securing the 18th spot out of 63 brokers according to ForexBrokers.com, while Xtrade sits at a lower rank of 53. This discrepancy underlines FP Markets' superior features in mobile trading, particularly for those who require comprehensive charting tools and instant market alerts. Overall, FP Markets caters more effectively to traders who demand advanced functionalities from their mobile trading experience.
| Feature |
FP Markets
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing FP Markets and Xtrade in terms of market research offerings, both platforms provide daily market commentary and access to forex news from leading sources like Bloomberg and Reuters. However, FP Markets stands out by offering advanced technical analysis tools from renowned companies such as Autochartist and Trading Central, providing users with a richer array of analytical options. Additionally, FP Markets includes a sentiment-based trading tool that helps traders understand the current market trends by displaying the ratio of long and short positions across currency pairs. In contrast, Xtrade does not offer these specific research tools, which may limit the depth of market analysis available to its users.
Both brokers supply an economic calendar to keep traders informed about global news events impacting various economies, but FP Markets clearly has an edge in research offerings with a higher rating of 4 stars compared to Xtrade's 3.5 stars. According to ForexBrokers.com, FP Markets is ranked #25 out of 63 brokers for Research, whereas Xtrade is positioned notably lower at #52. This comparison highlights FP Markets as a preferable choice for those prioritizing comprehensive research tools and market insights in their trading journey.
| Feature |
FP Markets
|
Xtrade
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | 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, FP Markets and Xtrade both offer over ten educational pieces focusing on forex or CFDs, but FP Markets distinguishes itself with additional content. While both brokers provide articles and videos, FP Markets stands out by offering monthly online educational webinars and maintaining a searchable archive of previously recorded sessions. In contrast, Xtrade does not offer these features, which could be crucial for learners who benefit from interactive content and easy access to past webinars.
FP Markets further supports beginners with a collection of at least ten videos tailored to novice traders and another set aimed at advanced techniques for experienced users. This comprehensive video library is absent in Xtrade's offerings. Additionally, both brokers provide an investor dictionary with definitions of over 50 investing terms. When evaluated on educational quality, FP Markets earns a commendable four-star rating and ranks #23 among 63 brokers on ForexBrokers.com, while Xtrade receives a slightly lower 3.5-star rating and ranks #46. Overall, FP Markets provides a more extensive educational experience than Xtrade, particularly for those just starting their trading journey.
| Feature |
FP Markets
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| 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 Xtrade. FP Markets finished with an overall rank of #19, while Xtrade finished with an overall rank of #60.
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
|
Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 74 |
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Both FP Markets and Xtrade do not provide the option to purchase actual delivered cryptocurrency but they do offer the ability to trade cryptocurrency derivatives.
FP Markets and Xtrade both lack ACH or SEPA transfer options for transactions, but FP Markets distinguishes itself by allowing PayPal deposits and withdrawals, unlike Xtrade, while both brokers support Skrill, Visa, Mastercard, and bank wire methods.
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 | Xtrade | |
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| Trust Score | 89 | 74 | |
| Winner | check_circle | ||
| Review | FP Markets Review | Xtrade Review |
| Broker Screenshots | FP Markets | Xtrade | |
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| Regulation | FP Markets | Xtrade | |
|---|---|---|---|
| Trust Score | 89 | 74 | |
| Year Founded | 2005 | 2003 | |
| 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 | 1 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 482 | |
| Forex Pairs (Total) | 71 | 56 | |
| 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 | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $250 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | FP Markets | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 30 | N/A | |
| Charting - Drawing Tools (Total) | 17 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | FP Markets | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | FP Markets | Xtrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| 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 | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | FP Markets | Xtrade | |
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| Trust Score | 89 | 74 | |
| Winner | check_circle | ||
| Review | FP Markets Review | Xtrade Review |
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