First Prudential Markets Pty Ltd, FP Markets LLC, and First Prudential Markets Ltd are all members of the FP Markets group of enterprises.
CFD broker that was founded in 2005 and is subject to the laws of the Australian Securities and Investment Commission (ASIC) as well as the Cyprus Securities and Exchange Commission (CySEC). On the other hand, FP Markets LLC is a foreign corporation that is based in Saint Vincent and the Grenadines and is registered there.
In addition to futures trading, FP Markets provides customers with access to more than 10,000 CFD instruments, which can be traded in currency, commodities, metals, cryptocurrencies, indices, and equities. Clients who register with the broker have access to these products on three different platforms: MT4, MT5, and the company’s own proprietary platform, IRESS. IRESS was developed specifically for trading CFDs on equity markets.
With the exception of equities CFDs, the broker makes all of their product offerings, including MAM and PAMM accounts, available on the MT4 trading platform for money managers to use. When it comes to analytics, FP Markets offers a suite of online trading tools such as the correlation matrix, sentiment trader, the live economic calendar, and the Autochartist to its customers. In addition to the plethora of other analytical tools already provided by the platforms MetaTrader and IRESS, these are some of the most useful. Additionally, the broker offers clients free access to VPS as well as several funding possibilities.
When opening a forex account, customers can select either the Standard or Raw option from the drop-down menu. Both of them come with ECN pricing, a minimum deposit of $100 Australian dollars, and are accessible on the MT4/MT5 platforms; the primary distinctions lie in the amount of the spread and the commissions that are charged. On the other hand, if you are only interested in share CFDs, you will need to create a separate account and carry out your transactions using the IRESS platform.
FP Markets provides raw spreads beginning at zero pips and caters to all types of clients, including novices, professionals, and those who trade in accordance with Shariah law. The CFD broker provides ultra-fast trade execution without requotes, in addition to providing a wide variety of trading tools, cutting-edge trading platforms, and access to worldwide markets. FP Markets is subject to global regulation, keeps client funds in separate accounts, offers multilingual customer service around the clock, and assigns each customer their own personal account manager. Since the company’s founding, FP Markets has been honored with over 40 different international accolades, most recently earning the title of “Best Global Forex Value Broker” at the Global Forex Awards in 2019.
In point of fact, FP Markets is one of the most successful CFD and Forex brokerages in Australia; yet, the business is about a great deal more than that. It provides what is effectively an entire suite of services linked to trading, and it does so not only for regular traders but also for other online trading firms and money managers.
FP Markets’ Standing in the Industry
Even while no brokerage firm can claim to have a “spotless” reputation, FP Markets comes about as near to that description as an enterprise that has been in business since 2005 possibly can. The responses we’ve received from traders have, on the whole, been really encouraging.
The brokerage firm has amassed no fewer than 35 accolades over the course of its existence, which have been bestowed upon it by a wide variety of organizations and trading media sites. These awards include practically every operational area, ranging from customer happiness to trade execution and the actual expenses involved, and as a result, they provide a somewhat accurate image of FP Markets’ position within the trading sector.
In addition to their years of experience and the recognition they have received from a variety of authorities within the industry, FP Markets are well-liked by the general public due to the transparency with which they define both the corporate background of their operation and the process by which they determine prices. In addition to this, it is important to emphasize the extensive variety of markets that are covered by the brokerage. More than 10,000 different assets can be utilized for trading in their various forms.
First Prudential Markets Pty Ltd is the firm that operates the website FPmarkets.com. It is a registered company in Australia and provides complete legal documentation regarding its identification as well as the activities it engages in through the About Us part of the FP Markets website. In Australia, which has a traditionally robust culture of corporate governance, they are governed by the Australian Securities and Investments Commission (ASIC), which is responsible for their regulation. ASIC demands that all monies be reconciled on a daily basis, and client money are not only kept apart from the company’s finances but also in client trust accounts that are completely independent from the company’s accounts. Because of this, in the extremely improbable event that there were to be a problem with the corporation, the cash belonging to customers would be kept separate (and safeguarded), so that those funds may be refunded to customers.
The previously stated legal documentation includes a discussion of potential conflicts of interest, although the reader is not supplied with a significant amount of information regarding this topic.
The headquarters of FP Markets, also known as First Prudential Markets, may be found in Sydney, New South Wales, at Level 5, Exchange House, 10 Bridge St., 2000. There is a clear concentration on international markets, and significant growth has been taking place in the industry over the past few years.
Products Offered by FP Markets
It is at this point that things start to get serious with FP Markets, as it is here that it becomes clear that we are dealing with much more than a standard brokerage, despite the fact that the website is very reliable and trustworthy in that regard as well.
Both Contracts for Difference (CFDs) and Foreign Exchange (Forex) Trading are the two primary types of products that are available to retail traders.
The organization was first well-known for the Equity CFD service; however, it has since expanded into much more. They now offer the complete range of services at a destination. CFDs give traders access to more than 10,000 trading products across Forex, Equities, Futures, Commodities, and Cryptocurrencies. Traders can even trade CFDs on cryptocurrencies. The CFD portion of the website advertises itself as having “global access,” and in this instance, that phrase is an accurate and appropriate way to describe the situation.
Despite the fact that the vast majority of traders use MT4 as their trading platform, foreign exchange can also be conducted on IRESS. Forex trading encompasses a diverse range of 45 currency pairs. Additionally, FP Markets provides Introducing Brokers and Money Managers with a selection of products to choose from. When we talk about the first of these two categories—the White Label program the brokerage operates—it should go without saying that we are referring to that. Forex traders can choose between a Standard account or a Raw account as their trading platform of choice.
Trading in contracts for difference (CFDs) takes place on the IRESS platform, which is web-based and distinct from MT4. As a result of a recent update, it now provides users with access to some of the most advanced charting and indicator tools available on the market. Among those who trade in Equity CFDs, IRESS has something of a cult following. CFD traders can choose from Standard, Platinum, or Premier levels of account complexity depending on their trading needs.
Share trading does appear as a separate category in some places on the website; however, it needs to be made abundantly clear that these are all CFDs based on shares, and not trading that involves the actual purchasing of shares.
The MAM and PAMM accounts present a potentially huge benefit for those in the role of money manager. Through them, they can handle numerous clients on different trading accounts, setting individual stop losses and profit targets for each of the concerned accounts. MAM and PAMM accounts provide traders with access to all of the more than 60 assets that can be traded using the MT4 platform.
Trading Platforms Provided by FP Markets
There are two primary trading platforms offered, each catering to one of the two primary product categories described earlier. Accessibility on mobile devices and tablets is complete across all platforms.
Forex traders will like the familiarity of MT4 and MT5, but the versions offered by FP Markets have a little something more. Their spreads frequently drop to as low as 0.0 pips, and they offer leverage options that reach as high as 500:1. ECN pricing, also known as electronic communication network price, is used for all of the trade, which results in very quick execution. ECN pricing provides traders with full transparency and also gives this benefit, which is why this broker can ensure there is no dealing desk, there is no price manipulation, and there are no re-quotes.
The capabilities of MT4 for doing technical analysis are well-known, and in this particular situation, we have more than fifty technical indications already included in the package, with the option to install additional ones. The Expert Advisor area of the site is quite popular, and for traders to be able to make effective use of such EAs, they need access to a dependable VPS service. FP Markets is able to provide such a service in a timely manner. In addition, MT4 includes a variety of warning tools, trading signals, and a “one-click” trading option.
The IRESS platform is used for trading CFDs; more specifically, the most recent, Iresstrader iteration of the platform is used. This version of the platform boasts cutting-edge charting technology and a surprisingly huge array of analytical tools.
In addition to all that has been mentioned thus far, traders also have the ability to fully customize their charts and select from a comprehensive range of time periods. Templates can also be saved for subsequent use.
When it comes to the MT4 platform, there are no unexpected developments to report at this time. The technical analysis capabilities of this platform are well-known, and in this particular scenario as well, we have approximately 50 or more technical indications already included in the package, with the ability to install even more. The Expert Advisor area of the site is quite popular, and for traders to be able to make effective use of such EAs, they need access to a dependable VPS service. FP Markets is able to provide such a service in a timely manner.
In addition, MT4 includes a variety of warning tools, trading signals, and a “one-click” trading option.
Account Options Available with FP Markets
As was mentioned earlier, FP Markets offers two different account options for forex trading. The Standard account, which has a requirement for a minimum deposit of merely 100 AUD/EUR/USD, is the most affordable of these three options. For that amount of money, traders will be able to take advantage of spreads beginning at 1 pip and a maximum leverage of 1:500.
The ECN Raw account provides the same STP trade execution, spreads starting from 0 pips, and a maximum leverage of 1:500. In addition, the spreads start at 0 pips. Traders are required to make a minimum deposit of one hundred Australian Dollars (AUD) in order to open such an account.
Additionally, a demo account can be opened on the MT4 trading platform.
When it comes to CFDs, the account situation is a little bit more competitive. There are three different account kinds available here, beginning with the Standard Account, which requires a deposit of $1,000. This type of account comes with a wide variety of fees, the most of which, however, can be avoided if the trader meets specified monthly commission targets. The commissions and margin rates, on the other hand, are acceptable.
The Platinum account, which needs a deposit of $25,000, is available to traders who want even better commissions and margins than those offered by the Gold account.
The Premier account is the highest-tier available version of the account. By default, it exempts you from paying any of the costs that were previously specified. This type of account is free of platform fees and brokerage charges, and it is designed specifically for experienced traders.
FP Markets Support
The live chat tool, which can be accessible with one click from the homepage of the website, is the quickest and easiest way to get in touch with FP Markets’ customer service team. Aside from that, there is a support email address that can be reached at support@fpmarkets.com, as well as two phone numbers: 1300 376 233 for residents of Australia, and +61 (0)2 8252 6800 for inhabitants of countries other than Australia.
FP Markets Review: The Final Thoughts
FPmarkets.com is a venue for serious trading that is equally popular with retail and institutional traders. The spreads are comparable to those offered by other brokers, and aggressive traders won’t have any issues with the myriad of additional fees that are charged. Since 2005, FP Markets has been operating under an ASIC license and is subject to the regulator’s oversight.
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