FP Markets Review
Today, I have come up with a broker named FP Markets, which is a peculiar place for online trading. Through this FP Markets review, you will come to know about the features of this broker which can prove useful for you and your career.
FP Markets Review
Being a broker that was established in 2005, you can say FP Markets has been serving its clients with professional trading experience for a long time. Since its inception, the broker has served more than 12,000 clients across the globe, and one of its main strengths is how it enhances its proposal with sophisticated trading technology and used the true ECN electronic bridges.
How good is FP Markets, and am I safe with it?
Before you can call a broker “good”, you must have established that it is safe for its clients and the proof of safety comes from its compliance with necessary legislation obligations.
FP Markets is a brokerage firm headquartered in Sydney, Australia, and it is registered and regulated by the Australian Securities and Investments Commission (ASIC) regulation which compels full compliance and cooperation from the companies under them. Also, FP Markets had recently enlarged its reach by creating another entity in Cyprus which will make it easier to serve customers in the EEA zone.
Another thing that FP Markets boasts of in its proposal is a leading solution that allows for fast execution of orders with spreads from 0.0 pips. This technology is the ECN technology that gives LPs (liquidity providers) direct access without any dealer intervention via the Equinix NY4 Data Centers.
You can consider FP Markets as a safe broker to trade with since it has a regulatory status with the ASIC, which means all of its clients are treated well according to the requirements of the international laws. Also, one of the FP Markets proposals that assure the safety of traders’ funds is that these funds are separated from the company running funds and are being held in some top-tier banks like the Commonwealth Bank of Australia and National Australia Bank through which the broker has daily reconciliation of funds and standard application for investment protection.
Different Account Types Offered
There are two different account types available with the FP Markets broker. They are based on the STP and ECN execution models. Also, for traders that prefer to use the IRESS software, there are three different types of accounts available for them.
The pricing models on these accounts vary, and it is recommended for every new trader to first check the one that is suitable for them before going ahead to select.
Trading Instruments, Fees, and Spreads
FP Markets offers access to diverse trading instruments ranging from FX pairs, Metals, commodities, Bitcoin, Metals, and Equity CFDs which gives you competitive spreads. However, each of their trading instruments has its specific trading conditions, including leverage and available margin.
In terms of fees, there are specified conditions that define the fees for each account type with FP Markets. For example, FP Markets charges the IRESS and Raw accounts based on commission per trade which depends on the trading instrument. However, apart from the spreads, there are other charges or fees incurred by the FP Markets users. This means that the broker covers the bank withdrawal fees and doesn’t charge any inactivity fees for accounts left unused for a long time. This fee model makes FP Markets’ service offering quite competitive in the market.
Also, the spread charged by FP Markets is based on account types. For example, the floating spread for the popular EUR/USD is 0.7 pips on the STP accounts, while the ECN has 0.1 pips for the same pair. This, when compared with other brokers in the industry, is quite competitive.
If you are looking for one of the most awarded brokers to trade, FP Markets is your best option. It has won the #1 Most Satisfied Traders award six times and the #1 Best trade execution award four times; among other awards and recognition it has won.
Due to its compliance with the ASIC regulation, you can rely on FP Markets, but instead of taking these words for it, you can do your research and read reviews from existing traders.