FP Markets Review: Set New Heights in Trading Game

In the evolving landscape of online trading, choosing a broker that aligns with your financial goals is paramount. This forex trading broker review will explore more details about FP Markets, including regulatory framework, account options, and trading platforms. We’ll cover the essentials, from its foundation to the range of services it provides, ensuring traders make an informed decision.

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FP Markets: Overview 

Established in 2005 in Australia, FP Markets stands out as a reputable CFD and forex broker in the global financial market.  With a choice of platforms like MetaTrader 4 and MetaTrader 5, traders can engage in trading currency pairs and commodity futures with competitive leverage and minimal spreads. 

The firm caters to different traders, offering a demo account for novices and a live account with a minimal deposit requirement of 100 AUD for more seasoned traders. Additionally, the inclusion of Expert Advisors (EAs), along with scalping and hedging strategies, accommodate all trading styles.

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Regulation and Registration 

The regulatory landscape of FP Markets is governed by the Australian Securities and Investment Commission (ASIC). In Europe, the Cyprus Securities and Exchange Commission (CySEC) oversees its operations, while in South Africa, it is regulated by the Financial Sector Conduct Authority (FSCA). Additionally, the firm is regulated by the Financial Services Authority (FSA) of Seychelles, showcasing its global compliance. 

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Account Types of FP Markets

1. Standard Account

• Minimum Deposit: 100 AUD or equivalent
• Spread: From 1.0 pips
• Commission: None
• Maximum Leverage: 500:1
• Instruments: 70+ forex pairs, metals, indices, commodities

2. Raw Account

• Minimum Deposit: 100 AUD or equivalent
• Spread: From 0.0 pips
• Commission: 3 AUD per side
• Maximum Leverage: 500:1
• Instruments: 70+ forex pairs, metals, indices, commodities

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Deposit and Withdrawal

FP Markets facilitates flexible deposit options including credit/debit cards, bank wires, e-wallets like Neteller and Skrill, and cryptocurrencies, with instant or 1-business-day processing times for most methods. Importantly, the broker charges no deposit fees and covers international transaction fees for deposits over 10,000 AUD.

For withdrawals, FP Markets offers similar methods through its Secure Client Portal, with processing times ranging from instant to up to 10 working days. The broker ensures a smooth withdrawal experience without internal fees, although traders should consider possible blockchain and intermediary bank fees.

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Products in FP Markets

FP Markets supports a diverse trading community with various financial products. Here’s a list of available products:

• Forex
• Shares
• Metals
• Commodities
• Indices
• Derivatives
• Futures
• Digital Currencies
• Bonds
• ETFs

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Trading Platform of FP Markets

To accommodate the varied preferences of its clients, FP Markets provides several trading platforms:

• MetaTrader 4 (MT4)
• MetaTrader 5 (MT5)
• TradingView 
• WebTrader

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Fees of FP Markets

FP Markets offers competitive trading conditions with different fee structures tailored to various account types. For Standard accounts, there are no commission charges as fees are incorporated into the spreads. However, Raw accounts include a commission fee for forex and metals, starting from 3 AUD per side, depending on the currency. 

Equity CFDs on the MT5 platform have commission rates starting from 0.05% per side with a minimum charge, varying by market. Additionally, a 10 AUD monthly data fee for ASX products applies, irrespective of trading activity. 

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FP Markets Promotions

Currently, FP Markets does not offer any promotions. It’s advisable for traders to stay informed about future promotions by checking FP Markets’ official website or subscribing to their newsletters.

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Customer Support 

• Email: [email protected]
• Phone: +44 20 3831 3622
• Live Chat: 24/7

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Pros & Cons 

Pros Explained

• The diversity in financial products allows traders to explore multiple markets.
• The support for Expert Advisors, scalping, and hedging accommodates different trading strategies.
• The availability of a demo account enables new traders to practice without risk.
• The absence of deposit fees reduces the cost of trading.
• FP Markets covers international transaction fees for deposits over 10,000 AUD. This reduces the burden on traders making substantial deposits.

Cons Explained

• The lack of current promotions might make FP Markets less attractive to traders looking for extra incentives.
• The monthly data fee for ASX products could limit traders interested in Australian securities.
• Possible blockchain and intermediary bank fees for some transactions can introduce additional costs for traders.

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Is FP Markets Worth Considering?

FP Markets has built a solid reputation as a global CFD and forex broker, providing access to a variety of trading platforms. With its competitive spreads, range of account options, and adherence to stringent regulations, it presents a reliable choice for traders. 

While the broker ensures a cost-effective trading environment with no deposit fees and coverage of some transaction fees, clients should be mindful of additional charges such as the monthly data fee for ASX products and possible blockchain fees. The lack of promotions may be a downside for some, but the overall trading environment and support services make it a considerable option.

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FAQs

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