It is crucial to read the broker review before trading with the broker. You can find the FP Markets review in detail below. For traders and investors that are using the MetaTrader platform, FP Markets thrives as a minimal-cost broker for trading FX and CFDs. The Iress platform suite has more than 8,000 tradable symbols, but it is primarily a share trading platform — and is thus a far more expensive choice.
FP Markets is regarded as an average-risk broker, with a fairly good trust score (81/99). It isn’t traded publicly, doesn’t run a bank, and also is regulated by one tier-1 (Australian Securities & Investment Commission), one tier-2, and zero tier-3 authorities.
Investment Options
Contents
The MT provided from FP Markets is restricted to about 130 tradable symbols, whilst the Iress one provides a wide choice of CFDs to clients worldwide, containing 8,884 shares, more than 60 currency pairs, 4 metals, 12 indices, 5 cryptocurrencies, plus 3 commodities.
Cryptocurrency trading is possible at the broker via CFDs but not through trading the underlying asset (meaning purchasing bitcoin). It should be noted that crypto CFDs aren’t offered to retail traders through any broker’s United Kingdom business, nor are they open to United Kingdom citizens.
Available investment options:
- Cryptocurrency (CFD)
- Copy Trading
- Forex Trading
- CFD Trading
- 9790 Tradeable Symbols in total
- 63 Forex Pairs in total
FP Markets Review – Pricing
FP Markets provides exceptionally inexpensive pricing via its MT platform, rendering it among the most cost-effective brokers accessible to traders worldwide. The Iress ViewPoint account is more expensive and is designed for active investors possessing large balances.
MT (MetaTrader) Standard vs. Raw ECN Account: The Raw ECN account from the broker has attractive spreads, around 0.1 pips. The Standard account is more expensive due to much greater spreads (around 1.2 pips for the EUR USD pair).
FP Markets Review – Mobile Applications
For FX and CFD traders, the broker offers a broad selection of mobile applications. Its in-house software has a great style for a newcomer mobile app, but it misses the sophisticated capabilities that users have grown to expect from the finest brokers in the market. Fortunately, dependable alternatives such as MT4 and MT5 are accessible.
Analysis of applications: The broker provides 3 trading applications for mobile: the widely known MT platform suite created by MetaQuotes software business, the Iress platform, and its unique proprietary mobile software.
Simplicity: Because Iress is primarily designed for share trading rather than forex, we have concentrated this assessment on the broker’s MT platform and also the FX Markets’ own app.
Charting: The broker’s mobile application provides basic charting without drawing features or signals. Traders at FP Markets, on the other hand, have accessibility to the amazing charting instruments that come preloaded with the MT suite of platforms.
Trading instruments: The broker’s mobile application is lacking any significant trading instruments. There is a favorites watchlist plus with a few different preset asset category lists, but that’s about it. There is no unified research or live news.
Different Platforms
Regarding share trading, the broker provides the Iress platform suite, however, MT is the main platform choice for FX & CFD trading.
Summary of platforms: The broker provides the whole MT platform suite, with MT4 and MT5. The Iress platform suite also includes 3 platforms based on the web for active traders: Iress Trader, Iress Investor, with Iress ViewPoint. MT is a superior alternative for forex traders, but Iress (especially the ViewPoint account) is ideally equipped for stock trading.
Charting: The Iress ViewPoint’s charting is provided by TradingView and offers a neat watchlist tool as well as approximately a hundred technical indicators. Although the Iress platforms have strong charting features, MT maintains its position as the superior choice for FX trading at FP Markets.
- Virtual Trading (Demo)
- Proprietary Platform
- Desktop Platform (Windows)
- Web Platform
- Social Trading / Copy-Trading
- MetaTrader 4 (MT4)
- MetaTrader 5 (MT5)
- 30 Charting – Indicators in total
- 15 Charting – Drawing Tools in total
- Charting – Trade From Chart
- Watchlists – Total Fields
Market Analysis & Research
The majority of the broker’s research may be accessible on its website underneath the Traders Hub area, which is divided into the technical and basic analysis. Compared to the leading research brokers, such as IG, Saxo Bank, and CMC Markets, the broker has space to grow and might strengthen its analysis service by extending it to include a broader range of daily materials.
Summary of research: The broker publishes articles as well as video materials on its own Youtube page on a regular basis. Best quality sources like Citibank, Rabobank, Reuters, and different forex news sources supply headlines into the broker’s MT platforms.
Industry headlines and analysis: The research area of FP Markets includes a Daily Report, Technical Report, Market Insights (once a week) perspective, as well as a Fundamental Analysis area with regular articles covering worldwide markets. It’s important to mention that the Forex News area had out-of-date information.
FP Markets ReviewLearning & Training
There is limited instructional information provided at FP Markets, except for some platform training, an investor lexicon, and archived videos on its Youtube page.
Learning center: On FP Markets’ YouTube page, it provides approximately 60 recorded webinars and also a few educational videos, but there are more than 30 articles published underneath its Forex 101 area. FP Markets also has a podcast. The podcast has the feel of a recorded audiobook rather than a spontaneous discussion. Incorporating interviews as well as a more personal touch (along with possibly some industry news) would significantly improve the broker’s venture into this new content type.
FP Markets Review – Verdict
Including its ECN account, FP Markets distinguishes itself for the affordable price it offers to forex traders. That price, though, is solely available with the MT platform, and the broker only provides 764 symbols on MT5.
Although there are more than 8,000 symbols accessible for share trading, these are divided on the Iress platform, and also the related platform and data costs might be a barrier.
Essentially, FX and CFD traders will really be delighted with FP Markets’ MT offering, however, the depth of its research and training offerings is restricted when contrasted with the top brokers.
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