Online Trading

FP Markets Review

First Prudential is a CFD and forex broker with a lot of longevity in the industry. You can access more than 10,000 CFD products and raw, tight spreads that start at 0.0 pips. The broker has raw pricing that it streams directly from its top tier liquidity providers, and clients can benefit from a large liquidity pool of regulated financial institutions. At FP Markets, there is a diverse mix of liquidity and aggressively competitive pricing.

Another excellent feature of this broker is its use of the MetaTrader 4 and 5 platforms. It also uses Iress (for which it offers three accounts) and WebTrader. There is a mobile app for Android and iPhone user. With these platforms, you get an advanced portal that lets you track trading in real-time, among other trader-tested features. FP Markets also offers VPS solutions for auto-traders, EAs, and scalpers. There are few restrictions with this broker, and you’ll find that the system is designed to let you use whatever trading strategy you want.

Continue Reading keyboard_arrow_down

FP Markets Pros & Cons

Pros

  • Low Forex Fees
  • MetaTrader 4 And 5 Offered
  • Easy, Fast Account Opening
  • Quick Deposits And Withdrawals
  • Wide Range Of Account Types

Cons

  • High Stock CFD Fees
  • High Minimum Deposit For Some Accounts

Who Is FP Markets Recommended For?

FP Markets might be a little overwhelming for traders who are completely new to the world of trading. But, for those with a little experience (or more), this broker is an excellent choice. The wide range of platforms and account types, as well as the educational resources and trader-centric tools, all indicate that FP works with traders of all experience levels.

Top FP Markets Features

  • Raw Spreads from 0.0 Pips. First Prudential Markets offers some of the industry’s tightest spreads. With this broker, you can trade from 0.0 pips on major currency pairs. Commission-wise, forex traders will pay $6 per lot per round turn, while those trading shares will pay 0.1% (AUD$10 minimum). 
  • No Manipulation. At FP Markets, there is no price manipulation, no requotes, and no dealing desk. You can access institutional-grade liquidity without any manipulation. 
  • Award-Winning Execution. FP Markets uses an Equinix NY4 facility server cluster, which provides low-latency execution, meaning that the server can process a high volume of trades with minimal delay. 
  • No Restrictions. There are few restrictions on your trading strategy at First Prudential. Scalping, Hedging, EAs and any other trading strategy is allowed. The conditions for EAs and scalping are ideal, as there is no minimum distance between the spread. 
  • Excellent Customer Support. At FP Markets, the customer support is multi-lingual and responsive.

FP Markets Overview

  • Type of Broker Forex/CFD Broker
  • Regulation & Licensing Cyprus Securities and Exchange Commission (Cyprus), Australian Securities and Investments Commission (Australia), Financial Services Authority (Saint Vincent and the Grenadines)
  • Clients Accepted from 93 Countries
  • Assets Offered Foreign Exchange (FX), Commodities, Indices, Shares/Stocks, Bonds, Futures/Forwards, CFDs, Cryptocurrency,ETFs.
  • Platforms Available Web, Mobile, Download
  • Mobile Compatibility iOS, Android
  • Payment Types Accepted Credit/Debit Card, Bank Wire Transfer, PayPal, Skrill, Neteller,SticPay, PerfectMoney, DragonPay, Rupee, Pagsmile, Rapyd, Rapid, XPay, Finrax, LetKnowPay, LuqaPay, PayRetailers, ApplePay, GooglePay, VirtualPay, PayTrust, FasaPay.

FP Markets Compliance & Regulation

FP Markets is regulated by several different bodies, including the Cyprus Securities and Exchange Commission (Cyprus), the Australian Securities and Investments Commission (Australia), and the Financial Services Authority (Saint Vincent and the Grenadines).

FP Markets Reliability & Security

In addition to the various trader features listed above, another high point of FP Markets is its reliability. It uses several well-liked, highly-rated platforms, including MetaTrader 4, MetaTrader 5, WebTrader, and Iress. Each provides a smooth, glitch-free, low-latency trade experience. 

MetaTrader

In addition to its mobile app for iOS and Android, traders who want a downloadable platform can choose from the industry-standard MetaTrader suite. MetaTrader 4 is the most ubiquitous, though MetaTrader 5 is available at FP with WebTrader. The MT4 suite includes features like a customizable interface, MarketWatch, one-click trading, live price streaming, EAs (Expert Advisors), customizable alerts, and more. MT5 has all the functionality of MT4, with just a few extra bells and whistles.   

WebTrader

WebTrader is also available with this broker. With this platform, you can trade from the Internet browser of your choice, with no need to download extra software. Features of WebTrader include raw pricing, no requotes, a complete trading tool suite, real-time price quotes, synchronization across platforms, and more.

Iress 

The Iress platform might not have the popularity of the MetaTrader suite, but it is still a solid choice, with over 500,000 users worldwide. Iress is a comprehensive trader platform that offers features like module linking, improved browser alerts, an intuitive interface, real-time price streaming, the ability to manage multiple portfolios, and more. For those who want a platform that’s not MT4 or MT5, Iress is worth a shot.

FP Markets User Experience

FP Markets has longevity in the industry and a long track record, but what do starred reviews say? The ratings of this broker have generally been positive, with several listed below: 

  • TrustPilot: 4.8/5.
  • 55Brokers: 5/5.
  • ForexBrokers: 4/5.
  • Forex-Ratings: 5/5.
  • FXEmpire: 4.8/5. 

Final Thoughts on FP Markets

FP Markets is an excellent, well-liked broker with a lot of educational tools and resources to offer its traders. Though some of its commissions fees are high, the pros greatly outweigh the cons when it comes to FP. The responsive customer service, use of the Iress platform, and MT5 availability are all high points that make this broker unique.

Trading Platform Screenshots

Contact Info

laptop Website: www.fpmarkets.com
laptop Email: support@fpmarkets.com
call Telephone: +61 2 8252 6800
location_on Company Address:
Level 5, Exchange House 10 Bridge St Sydney, NSW 2000 Australia

FP Markets FAQs

Q: What is Iress? 
A: Iress is a trader platform that has advanced functionality. Its trading accounts are comprehensive, and they allow for multi-asset trading using a single platform that is designed for greater flexibility and a better trading experience. Iress accounts depend on this tech and platform. Iress software is used by over half a million people around the world (including over 9,000 businesses).

Q: What is FP Markets’ ECN Pricing?
A: Because First Prudential offers ECN pricing, that means the broker streams feeds directly from its liquidity providers. ECN stands for Electronic Communication Network. This tech allows executable price streaming, as well as aggregation across liquidity providers. ECN pricing ensures that prices are as competitive as possible. 

Q: What is DMA Pricing on CFDs?
A: DMA pricing is a type of execution where the client gets a genuine exchange price feed from the market in which they’re trading, whether it is from a liquidity provider or an exchange’s order books. Clients receive direct access to the exchange’s order book, full market depth, and live market prices with DMA pricing. FP Markets, which was founded in 2005, is a pioneer of the DMA pricing module.

Disclaimer: The contents of this page or available via this page (""Contents"") are provided by third parties and do not constitute an endorsement by FUSION MEDIA of the Contents or products of such third parties. FUSION MEDIA has no control of the Contents, is not responsible for their accuracy, availability or legality and hereby disclaims any responsibility for the Contents. Any transactions that you enter into with any third party listed in this page or linked from this page are solely between you and such third party and are at your sole risk. Please also refer to our Risk Warning. FUSION MEDIA disclaims any liability for any damage or loss caused in connection with the use of or reliance on any Contents

close