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FP Markets Review

Steven Hatzakis

November 19th, 2021
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority 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. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

Top Takeaways for 2021

Here are our top findings on FP Markets:

  1. Founded in 2005, FP Markets is regulated in one tier-1 jurisdiction and one tier-2 jurisdiction, making it a safe broker (average-risk) for forex and CFDs trading.
  2. FP Markets offers the MetaTrader suite with ultra-competitive spreads through its Raw ECN account. Thanks to low costs, FP Markets finished Best in Class 2021 for both MetaTrader alongside Commissions and Fees.
  3. MetaTrader aside, FP Markets also offers its Iress platform suite with over 8,000 tradeable symbols. Focused more on shares trading than forex, Iress platform and data fees can add up quickly. As a result, it most suitable for high balance accounts and active traders.

Overall Summary

FeatureFP Markets
Overall 4 Stars
Trust Score81
Offering of Investments 4.5 Stars
Commissions & Fees 5 Stars
Platforms & Tools 4 Stars
Research 3.5 Stars
Mobile Trading 4 Stars
Education 3 Stars

Is FP Markets Safe?

help 81
Trust Score

FP Markets is considered average-risk, with an overall Trust Score of 81 out of 99. FP Markets is not publicly traded and does not operate a bank. FP Markets is authorised by one tier-1 regulator (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). FP Markets is authorised by the following tier-1 regulator: Australian Securities & Exchange Commission (ASIC). Learn more about Trust Score.

Regulations Comparison

FeatureFP Markets
Year Founded2005
Publicly Traded (Listed) No
Bank No
Tier-1 Licenses1
Tier-2 Licenses1
Tier-3 Licenses0
Trust Score81

Tier-1 Licenses

FeatureFP Markets
ASIC Authorised (Australia) Yes
IIROC Authorised (Canada) No
SFC Authorised (Hong Kong) No
FSA Authorised (Japan) No
MAS Authorised (Singapore) No
FINMA Authorised (Switzerland) No
FCA Authorised (UK) No
CFTC Registered (USA) No

Offering of Investments

The FP Markets MetaTrader offering is limited to just over 130 tradeable symbols. Meanwhile, with the Iress platform suite, FP Markets offers an extensive range of CFDs to global clients, consisting of 8884 shares, 61 forex pairs, four metals, 12 indices, five cryptocurrencies, and three commodities.

Cryptocurrency: Cryptocurrency trading is available through CFDs, but not available through trading the underlying asset (e.g. buying bitcoin). Note: Crypto CFDs are not available to retail traders from any broker's UK entity, nor to UK residents.

FP Markets offering of investments:

FeatureFP Markets
Forex Trading Yes
CFD Trading Yes
Tradeable Symbols (Total) 9790
Forex Pairs (Total)63
US Stock Trading (Non CFD) No
Int'l Stock Trading (Non CFD) No
Cryptocurrency (Physical) No
Cryptocurrency (CFD) Yes
Social Trading / Copy-Trading Yes

Commissions and Fees

FP Markets offers highly competitive pricing through its MetaTrader offering, making it one of the most cost competitive brokers available to traders globally.

MetaTrader Standard versus Raw ECN account: FP Markets Raw ECN account has competitive spreads averaging 0.64 pips in June 2020. Conversely, the Standard account is a less ideal option, as spreads are significantly higher (averaging 1.15 pips in June 2020 for the EUR/USD).

Iress ViewPoint Accounts (Australia): Iress ViewPoint accounts: The FP Markets Iress platform suite offers three account options: Standard (AUD 1k minimum), Platinum (AUD 25k minimum), and Premier (AUD 50k minimum). To avoid platform and data fees, you must either qualify for Premier or spend at least $150 in commissions each month. For active trader and high balance accounts, Saxo Bank and CMC Markets offer a better deal.

Iress Investor Account (Australia): For traders seeking a bare-bones, low-cost experience, FP Markets also offers its Iress Investor trading platform. Monthly fees are waived; however, there is no streaming data by default (click to refresh quotes), and the charting package is severely limited compared to the Iress ViewPoint platform. Needless to say, if you can’t afford ViewPoint access, then pass on Iress Investor.

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FP Markets pricing summary:

FeatureFP Markets
Minimum Deposit$100 AUD
Average Spread EUR/USD - Standard1.2 (September 2021)
All-in Cost EUR/USD - Active0.7 (September 2021)
Active Trader or VIP Discounts Yes
Execution: Agency Broker No
Execution: Market Maker Yes

Platforms and Tools

FP Markets offers the entire MetaTrader suite alongside its Iress platform suite. For forex, MetaTrader is the better choice, while for shares trading, Iress ViewPoint is more ideal.

MetaTrader: For traders seeking a MetaTrader broker, FP Markets offers the entire platform suite, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5), along with the web-based versions of each.

Although FP Markets offers less tradeable symbols on its MetaTrader platform, the 12 add-ons under its Trader Toolbox offering, along with excellent pricing, helped it finished among the best MetaTrader brokers.

Iress suite: As part of the Iress offering at FP Markets, there are three web-based platforms offered: Iress Trader, Iress Investor, and Iress ViewPoint, which is for active traders.

My testing focused on the Iress ViewPoint platform, which features charting powered by TradingView (with 78 technical indicators) and a clean watch list tool. That said, I had a hard time pulling up forex quotes and did not find any forex news headlines. As a result, for forex trading, MetaTrader is the better choice.

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FP Markets trading platform:

FeatureFP Markets
Virtual Trading (Demo) Yes
Proprietary Platform Yes
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) Yes
cTrader No
DupliTrade No
ZuluTrade No
Charting - Indicators / Studies (Total)59
Charting - Drawing Tools (Total)MetaTrader (Default)
Charting - Trade From Chart Yes
Watchlists - Total FieldsDefault (MT4/MT5)
Order Type - Trailing Stop No

Research

Research at FP Markets is mostly found under the Traders Hub section on its website, separated into technical and fundamental analysis. Overall, when compared to the best brokers for research, including IG, Saxo Bank, and CMC Markets, FP Markets has room to enhance its research offering.

Content in the research section is partly educational, with over 50 articles under the Trading Knowledge section, and five ebooks, as well as a platform tutorial section. There are 12 MetaTrader add-ons from FX Blue (Trader Toolbox), pattern recognition indicators from AutoChartist, and access to MyFxbook.

YouTube: It is worth noting that FP Markets does provide daily updates from written articles and video content on its official YouTube channel.

Forex news: Headlines stream within the FP Markets MetaTrader platforms. Sources include Citibank, Rabobank, Commerzbank, Reuters, and other top-tier forex news providers.

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FP Markets research:

FeatureFP Markets
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
Weekly Webinars No
Autochartist Yes
Trading Central (Recognia) No
Delkos Research No
Social Sentiment - Currency Pairs Yes
Economic Calendar Yes

Education

Beyond some platform tutorials, an investor glossary, and archived content on YouTube, there is little educational content available at FP Markets. FP Markets offers a handful of instructional videos on its YouTube channel, including nearly 60 archived webinars.

Offering education-related content by experience level, in addition to specific topics, or adding progress tracking, would be a boost and help FP Markets compete with education leaders such as Admiral Markets and IG. Overall, the range of educational content is something FP Markets can improve.

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FP Markets education:

FeatureFP Markets
Has Education - Forex or CFDs Yes
Client Webinars No
Client Webinars (Archived) Yes
Videos - Beginner Trading Videos Yes
Videos - Advanced Trading Videos Yes
Investor Dictionary (Glossary) Yes

Mobile Trading

FP Markets offers the standard MetaTrader mobile app alongside two Iress mobile apps. After testing, I found myself preferring MetaTrader.

Iress ViewPoint mobile app: I tested the ViewPoint version of the Iress mobile app as part of this review. On the plus side, the watchlist syncs with the web-version, a nice touch. On the cons side, charts were basic and lacked candlesticks. Also, the trade-ticket was not smooth for order entry like other apps I tested. Bottom line, I was left wanting more.

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FP Markets mobile trading:

FeatureFP Markets
Android App Yes
Apple iOS App Yes
Alerts - Basic Fields Yes
Watch List Yes
Watch List Syncing No
Charting - Indicators / StudiesMetaTrader (Default)
Charting - Draw Trendlines Yes
Charting - Trendlines Moveable No
Charting - Multiple Time Frames Yes
Charting - Drawings Autosave Yes
Forex Calendar Yes

Final Thoughts

Overall, the FP Markets offering is mixed. First, its Raw ECN accounts for MetaTrader platforms provide competitive pricing near industry leaders in the commissions and fees category. However, there are far fewer symbols available to trade on MetaTrader, with less than 150 instruments in total.

Meanwhile, its Iress platform suite offers a substantial range of markets but is optimized for share trading, not forex. Platform and data fees are also a hurdle unless you have a high balance account or are an active trader.

Overall, FP Markets trails industry leaders in the research and education categories but stands out for its industry-leading pricing on MetaTrader.


About the Author

Steven Hatzakis

Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.








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Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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