A Versatile Broker for Discerning Traders
First Prudential Markets (popularly known as FP Markets) stands as a beacon of versatility, serving both novice and seasoned traders. With a diverse array of instruments and account types, the Australia-based company caters to all, making it a valuable ally in the world of online trading.
FP Markets Pros and Cons
Pros
- User-Friendly Platform: FP Markets offers a user-friendly platform that caters to traders of all levels.
- Competitive spreads: It offers competitive spreads that can enhance your trading profitability.
- Diverse asset selection: It provides access to a diverse selection of assets to diversify your investment portfolio.
- Strong Regulatory Adherence: Allowing you to trade with confidence.
- No Commission Fees: Benefit from transparent trading.
Cons
- Limited Educational Resources: Affecting those looking for comprehensive learning materials.
- Sparse Customer Support: Leading to slower response times.
- High Leverage Risk: Concerning those who are not experienced in managing leveraged positions.
- Few Advanced Tools: Limiting the ability to perform complex technical analysis.
- Minimal Customization Options: FP Markets doesn’t offer many customization options.
Who Is FP Markets Recommended For?
One of the standout features of FP Markets is its competitive spreads, which enhance the cost-effectiveness of trading across various asset classes. This can significantly benefit traders by reducing their transaction costs and optimizing profitability. Furthermore, the broker’s commitment to regulatory compliance adds an extra layer of security for clients, assuring them of a safe trading environment. While FP Markets may not be the go-to option for traders seeking an abundance of complex tools and analytics, it excels in providing a straightforward and secure trading experience, making it a noteworthy choice in the online brokerage landscape.
Top FP Markets Features
Empowering Traders with Insights
FP Markets stands out by offering an array of unique features and tools designed to enhance traders’ decision-making processes and provide valuable market insights. These features include:
Push Notifications: Traders receive real-time push notifications, ensuring they stay updated on crucial market events, price fluctuations, and account changes.
Trend Exploration Tools: FP Markets equips traders with robust trend exploration tools, facilitating the identification of market trends, potential reversals, and key support/resistance levels.
Instrument-Specific Insights: Traders gain access to asset-specific insights, including in-depth analyses and news relevant to particular instruments, enabling more informed trading decisions.
Comparative Analysis: FP Markets allows traders to perform comparative analyses of their trading behaviors against peers, fostering self-improvement and adaptive strategies.
These unique features collectively empower traders to navigate the complexities of the financial markets with precision and confidence. In summary, FP Markets demonstrates its commitment to providing traders with the tools and insights they need for successful trading endeavors.
FP Markets Account Types
Tailored to All Traders
FP Markets recognizes the diversity of its clientele and has crafted its account offerings to cater to the distinct needs of traders, from beginners to seasoned professionals.
It provides a demo account, offering a risk-free environment for practice. For Muslim traders, Islamic accounts adhere to Shariah principles. Client funds are held in segregated accounts, ensuring security. Managed accounts are available for those preferring professional management. The broker’s user-friendly interface, educational resources, and demo account make it suitable for beginners. Simultaneously, its extensive range of instruments, low spreads, and advanced trading tools cater to professional traders. However, it’s important to note that FP Markets does not currently accept traders from the United States. This diverse account offering ensures inclusivity and flexibility for traders of varying experience levels and preferences.
|
Account Type |
Available |
|
DEMO ACCOUNT |
Yes |
|
ISLAMIC ACCOUNT |
Yes |
|
SEGREGATED ACCOUNT |
Yes |
|
MANAGED ACCOUNT |
Yes |
|
SUITABLE FOR BEGINNERS |
Yes |
|
SUITABLE FOR PROFESSIONALS |
Yes |
|
US TRADER |
No |
Trading Platforms
Versatile Tools for Every Trader
FP Markets caters to traders with a robust selection of trading platforms, offering flexibility and user-friendliness across devices.
Mobile Trading Apps
FP Markets offers mobile trading apps for both Android and iOS devices, providing traders with convenient access to the markets while on the go. These apps feature a user-friendly interface and robust functionality, enabling traders to manage their accounts and execute trades seamlessly from their smartphones and tablets.
Web Trading Apps
Traders can access FP Markets’ web-based trading platform from any web browser without the need for installation. This web platform offers flexibility and accessibility, making it a convenient choice for traders who prefer to trade from various devices and locations. It provides essential trading features and tools, ensuring a smooth trading experience.
Desktop Trading Apps
FP Markets caters to desktop users by offering trading software compatible with both Windows and Mac operating systems. Windows users can download the desktop platform, while Mac users can access it through web-based solutions. These desktop apps provide advanced charting tools, user-friendly interfaces, and support for MetaTrader, algo-trading, and copy trading, making them suitable for traders of all levels and preferences.
|
Trading Platform |
Available |
|
MT4 |
Yes |
|
MT5 |
Yes |
|
CTRADER |
Yes |
|
PROPRIETARY |
No |
|
Desktop and Web Platform |
Available |
|
DESKTOP WINDOWS |
Yes |
|
DESKTOP MAC |
Yes |
|
WEB PLATFORM |
Yes |
|
Mobile Platform |
Available |
|
ANDROID |
Yes |
|
iOS |
Yes |
FP Markets Pricing
Competitive and Transparent
FP Markets stands out in the online brokerage landscape for its competitive fee structure, aligning with its commitment to providing value to traders. Here’s an overview of the commission and fees:
Account Minimum
FP Markets requires a minimum deposit, providing accessibility for traders at different levels.
Trading Fees
The broker offers competitive trading fees, enhancing cost-effectiveness for various asset classes.
CFD Fees
Traders engaging in Contract for Difference (CFD) trading will find FP Markets’ fees reasonable and competitive.
Forex Fees
Forex trading is cost-effective, with tight spreads benefiting traders.
Futures Fees
The broker’s fees for futures trading remain competitive, allowing traders to engage in this asset class efficiently.
Account Fee
FP Markets doesn’t charge an account fee, contributing to its appeal.
Inactivity Fee
While there’s no account inactivity fee, it’s essential to note that other fees might apply.
Deposit Fee
Deposits are generally free, enhancing accessibility for traders.
Withdrawal Fee
Withdrawal fees are transparent, ensuring traders know what to expect.
Overnight Funding Fee
FP Markets may charge overnight funding fees, which vary depending on the position held.
Currency Conversion Fee
Traders should be aware of currency conversion fees when trading assets in a different currency.
Guaranteed Stop Order Fee
The broker may charge fees for guaranteed stop orders, depending on the specific trade.
Inactivity Fee
FP Markets does not charge an inactivity fee, which benefits traders who may not trade frequently.
Overall, FP Markets offers a competitive fee structure, as well as transparency, and flexibility. Traders can benefit from cost-effective trading while knowing what to expect in terms of fees and charges.
Service Details
Responsive and Multichannel
FP Markets provides comprehensive customer support services that cater to traders worldwide.
During standard hours from 9 AM to 6 PM EST, traders can access live customer support for prompt assistance. Beyond these standard hours, the broker ensures that support remains available, accommodating its global clientele. Multi-channel support is a highlight, offering live chat, email, and phone support, enhancing accessibility and allowing traders to choose their preferred communication method. Additionally, FP Markets maintains a comprehensive FAQ section and provides educational resources on its website, empowering traders with the tools to address common queries independently.
Overall, FP Markets’ customer support, with its responsiveness, accessibility, and supplementary resources, ensures a positive and well-rounded support experience for traders.
FP Markets Reliability & Security
Providing a Secure Trading Environment
Regulation: FP Markets takes a commendable stance on regulation, with multiple licenses from prominent financial authorities across the globe. These regulatory bodies serve as guardians of financial market integrity and provide investors with a sense of security. FP Markets’ multi-jurisdictional regulation places it among the most rigorously supervised brokers in the industry. This diverse regulatory framework ensures compliance with stringent standards in various regions.
Fraud Prevention: FP Markets employs robust measures to prevent fraud and safeguard its clients. These include advanced encryption protocols, secure payment gateways, and continuous monitoring of suspicious activities. The broker’s commitment to regulatory compliance further bolsters its fraud prevention efforts.
Client’s Fund Security: Client funds are held in segregated accounts with top-tier banks, offering an additional layer of security. In the unlikely event of financial distress, these segregated accounts ensure that clients’ funds remain protected.
|
Regulatory Body |
Status |
|
ASIC |
Yes |
|
CySEC |
Yes |
|
DFSA |
No |
|
EFSA |
No |
|
FCA |
No |
|
FMA |
No |
|
FSA (SC) |
Yes |
|
FSCA |
Yes |
|
FSC |
No |
|
JFSA |
No |
|
MAS |
No |
|
MiFID |
Yes |
FP Markets earns a top-notch rating in trust and safety due to its extensive regulation, comprehensive fraud prevention measures, and stringent client fund security protocols. Traders can have confidence in the broker’s commitment to maintaining a secure and trustworthy trading environment.
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 impresses with its user-friendly trading platforms, extensive range of tradable instruments, and competitive fee structure. Its commitment to trader education and unique features, such as comparative analysis and trend exploration tools, enhance its appeal. The broker’s customer support is responsive, while its deposit and withdrawal methods are flexible and secure.
Overall, FP Markets is a strong choice for traders of varying levels of experience. However, as with any financial decision, it’s essential to conduct thorough research and consider personal trading needs before opening an account with any broker. Your individual goals and preferences should guide your choice.
Contact Info
10 Bridge St L 5, Sydney, New South Wales, 2000, Australia