Review of FPMarkets broker

FPMarkets

FPMarkets Logo

– ECN/STP broker from Australia specialized in Forex and CFD

-Regulated by organizations such as ASIC and CySEC

-Tight spreads and low commissions

FPMarkets – Forex Broker Review

FPMarkets is a regulated Forex and CFD online broker from Australia (regulated by ASIC), which also offers trading services with shares of different markets (including Australian stocks). This broker was founded in 2005 and its central headquarters are located in Sidney.


Type of Broker

FPMarkets is an ECN/STP/NDD broker that offers DMA (Direct Market Access) in the transactions of its clients, which means that traders can trade under ECN trading conditions and without the direct intervention of the broker (without dealing desk).


Regulation

In terms of regulation, this broker is licensed by the Australian Securities and Investments Commission (ASIC). (AFS license No. 286354).

Also, it has a licence from CySEC (Cyprus Securities and Exchange Commission) of Cyprus (License number 371/18).


Country of origin

The headquarters of FPMarkets are located in Sidney, Australia.


Trading Instruments

The client of this broker can trade with the following instruments:

  • Forex Market: More than 65 currency pairs in the Forex spot market, including the most important ones such as EUR/USD, GBP/USD and USD/JPY, and other pairs less common and traded such as USD/ZAR and USD/RUB among others. With respect to the trading conditions for the Forex market, FTPMarkets offers a maximum leverage of 1:500, a minimum transaction size of 0.01 lots and low and variable spreads from 0.0 pips for the main currency pairs such as the EUR/USD.
  • Precious metals: Gold and silver in the spot market, two of the most important commodities in the market, against USD (XAU/USD), AUD (XAU/AUD) and EUR (XAU/EUR), and platinum and palladium against USD.
  • Contracts for Difference *: CFD (with DMA execution and without DMA execution) with leverage based on the following financial instruments:
    • Agricultural Commodities: 9 agricultural commodities, including some of the most important ones such as wheat, soybeans, corn and live cattle.
    • Energy commodities: 5 energy commodities, including WTI crude oil, natural gas and gasoline.
    • Precious metals: Gold, silver, platinum and palladium, the most well-known and traded precious metals in the financial markets.
    • Stock indices: 11 of the most important stock indices in the market, such as the Dow Jones, S&P 500, Nasdaq 100, CAC 40, DAX 30 and Nikkei 225.
    • Stocks: More than 10,000 shares of the main stock markets of the United States, Europe and Asia, such as Google, Apple, Amazon, Facebook, Bayer, BMW, Vodafone, Toyota, Petrochina and Toshiba, among others.
    • Cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC) and Bitcoin Cash (BCH) against the USD dollar.
  • No-Leveraged Contracts For Difference based on thousands of shares of the main stock markets.
  • Shares: FPMarkets offers the possibility to trade directly, and not through CFD, with shares of the Australian stock market, which quoted thousands of shares of a variety of companies.

For CFDs traded in MT4, these are contracts issued by the broker without access to DMA, with the typical trading and execution offered by most CFD brokers.

*Trading conditions of the CFDs depend on the underlying asset of the contract and the market conditions at the time of the transaction.


Trading Accounts

The broker FPMarkets offers several types of trading accounts according to the trading instruments selected by the trader and the client profile, which are detailed below:

Forex trading accounts

Account TypeStandardECN Raw
Minimum opening deposit$100 AUD or its equivalent$100 AUD or its equivalent
SpreadsFrom 1.0 pipsFrom 0.0 pips
Trading InstrumentsMore than 50 Forex pairs

-Precious metals

-CFD of indices and commodities

More than 50 Forex pairs

-Precious metals

-CFD of indices and commodities

Maximum leverage1:5001:500
Execution TypeECN-PricingECN-Pricing
Commissions per traded lotZeroCommission at USD 3.00 per standard lot, charged per side of trade
Minimum transaction size0.01 Lots0.01 Lots
Expert Advisors (EA) allowedYesYes
Applications for mobile devicesYesYes
VPS availableYesYes

-All Forex accounts of FPMarkets offer ECN execution for all trader transactions, which are processed using their NY4 Equinix ultrarapid servers in New York.

Trading accounts for CFD

FPMarkets CFD trading accounts provide access to genuine market data that includes authentic direct market access (DMA) prices and access to the Order Book for faster execution and non-intervention by the broker or dealer. These accounts offer flexible options of trading platforms and data exchange to adapt to any type of trader.

Account TypeStandardPlatinumPremier*
Minimum opening balance$1,000$25,000$50,000
Brokerage fee$10 minimum, from there 0.1%9% minimum, from there 0.1%0.0% without minimum
FinancingRate of RBA + 3.5%Rate of RBA + 3.5%Rate of RBA + 3.5%
IRESS Trader fee$55 – The GST fee does not apply if the trader generates $150 in commissions/month.$55 – The GST fee does not apply if the trader generates $150 in commissions/month.comisiones/mes.The platform fee does not apply
RESS Investor feeFreeFreeFree
Live data from ASX$22.00$22.00The ASX rate does not apply
ASX delayed dataFreeFreeFree
Commission for telephone tradingNo additional chargeNo additional chargeNo additional charge
Description of the accountA professional trading account for CFD that provides access to DMA commissions and competitive margin rates with options of professional trading platformsThe Platinum account offers even lower commission and financing rates on its professional trading platformsFor the professional trader, this account allows trading without a minimum charge in the commissions per transaction. Nor does it charge commissions for the use of trading platforms

The following table shows the differences between direct trading with stocks and trading with CFD in FPMarkets accounts:

StocksCFD without leverage
Commissions0.11%From 0.08%
Minimum Commission Fee$14.95No minimum
Short sellingNoSi
LeverageNoNo
DividendsAre paid on the determined dateIt is paid on the ex-dividend date (Before the shares)
Payment for the use of the platformNoNo
Financing / Cost of maintaining the positionNoNo

Demo Account

The broker offers a free demo account during 30 days.


Trading Platforms

The client of this broker has the possibility of using several trading platforms, depending on the markets in which he wants to trade, with the following basic characteristics:

  • Metatrader 4: It is one of the most complete and popular trading platforms in the Forex and CFD sector thanks to its multiple trading tools. It is a downloadable application that offers a wide variety of market analysis tools such as advanced price charts with several time frames, real market quotes, dozens of technical indicators and others similar. This platform has several types of trading orders (like market orders and limit orders), in addition it offers the user the possibility of creating, evaluating and implementing automated trading systems called Expert Advisors (EA) based on all types of strategies. Also, it is characterized by its simple interface and its relatively low consumption of resources.
  • MT4 Webtrader: It is a web-based online application, which does not require download or installation and can be accessed through the FPMarkets website from any site with an Internet connection. Among its resources, this platform has position management functions (opening, closing, etc.) and market analysis tools, such as updated news, updated quotes, price charts and technical indicators. It is based on the MT4 platform system.
  • Metatrader 5: It is the new version of the most complete trading platform in the sector which offers the same advantages as Metatrader 4 plus other additional ones. It includes new market analysis tools, among which we can highlight some fundamental analysis tools, additional time frames for price charts and more than 80 built-in technical indicators and graphical analysis objects. This platform offers more markets, including currency pairs, commodities, CFDs, indices, futures and shares of various financial markets. Likewise, it offers the possibility of using all types of trading orders and has the new MQL5 version of the programming language of these platforms.
  • MT5 Webtrader: It is the online version of the Metatrader 5 platform, which does not require download or installation. Through this application we can access the MT5 account and trade in the markets from any site with Internet connection, which provides greater flexibility for the trader in their transactions. To use this platform, the trader only has to enter the FPMarkets website. It is designed with the main tools and functions of MT5, including updated quotes, price charts with various time frames, built-in technical indicators, market news, various types of orders, position management tools and others. In addition, it has a simple and easy-to-use interface.
  • IRESS: It is an online trading platform, which also does not require downloading or installation and was developed by the company and specializes in trading with CFDs based on a wide variety of markets as well as trading with shares in the stock market. It is a platform for CFD trading with DMA execution, that is, with Direct Market Access. With this platform, we can trade with multiple products and access to Level II quotes (Market depth), all through a highly customizable, intuitive and easy-to-use interface. The main features of this platform are:
    • Quotes of more than 13000 instruments, including Forex, commodities, shares of multiple markets, indexes, ETF and Futures contracts.
    • Advanced price charts with more than 50 functional drawing tools that allow analyzing price charts in greater detail. These graphics are completely customizable thanks to these tools, the built-in indicators and the different functions to modify the characteristics of the price chart.
    • A wide selection of time frames, from 1 minute to 1 month, which allows its use for traders specialized in daytrading as well as for long-term investors.
    • 59 built-in technical indicators, including the most popular ones such as the RSI and the MACD, to facilitate market analysis.
    • The trader can compare easily the price action between different instruments, which allows to analyze effectively the strength of their correlation to detect trading opportunities or to identify the divergences between the prices of the instruments.
    • Compatible with Windows and Mac.
  • Applications for mobile devices: FPMarkets offers its clients several platforms based on Metatrader 4, which are designed to access the trading account from different mobile devices such as smartphones, tablets and the like. These platforms offer simple trading tools such as updated market quotes, price charts and positions management tools among others.
    • Metatrader 4 iOS.
    • Metatrader 4 Android.
IRESS Platform of FPMarkets

IRESS Platform of FPMarkets


Payment Options

-Minimum deposit: $100 AUD or its equivalent in other currencies

-Payment/funding methods: Credit/Debit cards (VISA and Mastercard), Domestic bank wire, International bank wire, Neteller, Skrill, PayPal, PoliPay, BPay, Fasapay, Paytrust88, Ngan Luong, Online Pay, Broker to Broker.

-Base currencies:  Deposits can be made in AUD, USD, EUR, GBP, SGD, CHF, CAD, NZD, JPY, HKD.


Main Advantages of FPMarkets

Among the main advantages and additional services offered by this broker we can highlight the following:

  • It is a duly regulated Australian broker regulated by ASIC of Australia and CySEC of Cyprus.
  • It is a broker that offers ECN trading conditions, which means that the client has access to the main liquidity providers of the company during his transactions. In this way, clients can trade with variable and low spreads, quick trade execution and the best price quotes.
  • Very low spreads from 0.0 pips on major currency pairs.
  • FPMarkets offers support to its clients 24 hours a day, 5 days a week.
  • The clients of this broker have access to daily market analyzes carried out by expert analysts.
  • This company has an updated news service on the market.
  • It offers access to a wide variety of markets, including Forex, precious metals, CFDs of multiple financial markets (including DMA CFD) and stock market shares.
  • This broker has several options of trading platforms for its clients.
  • Through its website, FPMarkets offers several education options for its clients including several ebooks on the market.
  • On the company’s website we can find a lot of information about topics such as technical analysis, fundamental analysis and the market in general.
  • FPMarkets offers the possibility to get additional benefits promoting their services as a broker through an affiliate program of their property which is open to all customers of the company.

Awards of FPMarkets

FPMarkets have over 36 Industry Awards and counting, including:

  • Best Global Forex Value Broker Award
  • Outstanding Value CFD Provider
  • Best Customer Service
  • Best Trade Execution
  • Most Satisfied Traders
  • Best Education Material

The company also has its own Trader’s Hub which FPMarkets recently launched that offers abundant educational material.


Other categories of this broker

  • CFD Broker.
  • Gold Broker.
  • Silver Broker.
  • Metatrader broker.

CompanyThe company is owned by First Prudential Markets Pty Ltd
Minimum account size$100 for the Standard account.
Minimum lot size0.01 lot.
Maximum LeverageUp to 1:500.
Spreads-Low and variable spreads from 0.0 pips onwards for major currency pairs such as EUR/USD
Link to the website
Go to FPMarkets Website