FP Markets vs IC Markets: Comparison and Analysis

FP Markets vs IC Markets: Comparison and Analysis

As has been mentioned above, this still depends on what type of payment channel you choose to use. The major part of these payment channels do not charge for MT4, MT5, and IRESS accounts, accept PayPal, Skrill, Neteller, Bank Wire , broker to broker, and in some cases Credit/Debit Cards. The company has well-developed technical indicators that you will find helpful in trading.

While conducting our evaluations of online forex brokers, we’ve collected over 360 data points that track the research-specific features that are most important to traders and investors. FP Markets offers 4 of those 5 features, whereas the average forex broker offers 3 of those features. FP Markets received an overall rating of 7/10 in the research category, contributing to its overall category ranking of #25 out of the 62 brokers in the BrokerNotes database. First Prudential is a CFD and forex broker with a lot of longevity in the industry. You can access more than 10,000 CFD products and raw, tight spreads that start at 0.0 pips.

In this review, we tested the MetaTrader 4 trading platform because this is what most clients would use and also because it’s free of charge. To have a clear picture, see the following table listing the various account types and the most important fees. Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees. We ranked FP Markets’s fee levels as low, average or high based on how they compare to those of all reviewed brokers. Actually, FP Markets accepts clients from all over the world excluding retail FX traders residents in the US, Japan or New Zealand. So, if you’re a beginner, it’s worth also checking out platforms with good Standard accounts, like Pepperstone and IC Markets.

Inactivity Fees

I encourage anyone considering using their services to think twice, as they may find themselves in a similar predicament. We take all feedback seriously and we are committed to providing our clients with the best possible service. Please be assured that we are constantly reviewing our processes and procedures to ensure that we meet the expectations of our clients.

  • The most impressive part with this broker is the ECN pricing and low spreads for forex and indices.
  • The broker’s Raw ECN account provides access to the interbank market, ensuring the tightest spreads possible.
  • With FP Markets’ software, money managers can execute trades quickly and accurately, which can translate into higher returns for their clients.

Also, it highlights real-time price streaming and gives you access to genuine exchange pricing and market depth. Plus, IRESS has enhanced trading tools and better compatibility with a wide range of internet browsers. Looking at our database, the average forex broker offers 6 of the 11 features variables we track in the commissions & fees category, and has average spreads of 1.04 when trading the EUR/USD. FP Markets offers 7 of the 11 features, while offering average spreads of 1.2 which helped contribute to the broker ranking #6 out of 62 brokers in this category. FP Markets delivers a very competitive commission-based alternative with raw spreads of 0.0 pips for a commission of $6.00 per round lot.


Therefore, FP Markets is the better option for traders who want to engage in long-term investing. The broker offers a wide range of asset classes to trade, including forex, https://broker-review.org/ shares, indices, commodities and cryptocurrencies. Although FP Markets’ headquarters are in Australia, its customer service team is available 24/7 to support its customers.

fp markets review

All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors.

For those who want a platform that’s not MT4 or MT5, Iress is worth a shot. The broker offers a wide range of funding options, including Bank wire transfer, Credit/Debit cards, e-wallets, and cryptocurrencies. The broker provides daily analysis of global markets to help keep you up to speed with what is happening around the markets. I think this can be a good way to get inspiration for trade ideas that you may have otherwise overlooked. In addition to the percentage allocation technique used in a PAMM, this allows for various unique ways to sub-allocate transactions.


Yes, FP Markets have an Islamic account option for Muslim clients who must comply with Sharia law. On the Islamic account, swap fees will not be credited or debited on selected products. Instead, the account holder will be charged an administration fee on positions which is deducted from the balance of the account. Note that the IRESS platform does not have the swap free account option.

If you’re looking for a low-cost broker that provides a versatile and affordable solution for Forex and CFD trading, FP Markets could be the perfect option for you. In this review, we’ll explore why FP Markets shines as a broker and what areas it could improve in. Trade more than 3,700 markets without commissions and professional platforms. Regulation is one way to determine if a broker is legit.This is due to the fact that a broker is not able to operate legitimately without passing certain criteria to attain this license. You must first know if the broker is regulated and what the regulator has given its license for the safety of your investments. FP Markets is regulated and authorized by Australia’s corporate regulator and financial watchdog.

fp markets review

As with all brokers, you can also utilize their MetaTrader 4 & MetaTrader 5 trading platforms in the desktop or web-based version, but IRESS is unique and powerful. Forex traders may use the FP Markets VPS hosting for MetaTrader 4 and MetaTrader 5 to implement automated algorithmic strategies, such as EAs . With virtual private server access, any concerns about downtime influencing fp markets review trades are greatly minimised. A dedicated VPS helps eliminate trading platform difficulties on operating systems caused by an internet connection or a server. I think this is a great tool for those of you who want to run automated systems around the clock without needing your computer switched on. You can also get a free VPS through some other brokers including IC Markets.

Deposit and Withdrawal Fees

Percentage Allocation Management Module Manager, or PAMM, is a type of pooled money FX trading. Investors can be part of a group of sub-accounts traded collectively by a money manager or trader who has customers’ authorisation to trade their accounts under an LPOA . Just keep in mind that performance of managed accounts cannot be guaranteed. TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation. We do not provide financial advice, offer or make solicitation of any investments. Trading Brokers is dedicated to bringing you unbiased broker reviews, the latest broker news and trading guides to help you along your trading journey.

The minimum deposit to open an account from FP Markets is AUD100 or equivalent for all types of MT4 and MT5 accounts. Most of FP Markets’ research is found under the Traders Hub section on its website, where it is separated into technical and fundamental analysis. FP Markets’s new mobile app is a welcome addition to its mobile lineup, but it still lacks many of the features typically found in the best mobile trading apps.

I want to trade options, are they available at FP Markets?

Moreover, the client’s funds are kept separate from the company’s finances in segregated accounts with top-tier banks to ensure that they can’t be utilised for anything else. Negative balance protection is not available to ASIC and St Vincent clients. FP Markets offers very tight spreads that vary from account to account. Spreads for a standard account start from 1.0, and for a raw account, the spreads start from as low as 0.0 pips. Additional fees may be charged when using certain payment methods but this is expected from nearly all brokers.

You can open an account in a good selection of currencies including USD, GBP, EUR, CHF, JPY, NZD, CAD, SGD, HKD & AUD. The various different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. This Traders Hub is designed to further enhance the brokers offering and continues with their commitment to provide traders with unparalleled trading conditions. I have been a huge fan of Autochartist since I first used it many years ago. Back then it was only capable of doing limited market analysis, nowadays it has grown into one of the best trading tools and a must for anyone looking for automated market analysis. It is no coincidence that it is available through many other brokers including BlackBull Markets.

On the other hand, they can also be helpful for generating trading signals without you needing to stare at charts all day long. Through the FP Markets app, you can place, monitor and review trades within seconds. Traders can also conduct research and technical analysis using a wide range of trading tools. They have won numerous awards for fast execution speeds, client satisfaction and customer support. Awards include Best Global Forex Value Broker Award, Outstanding Value CFD Provider, Best Customer Service, Best Trade Execution, Most Satisfied Traders, Best Education Material, etc.

Clients of all levels can choose between ECN or DMA pricing with a range of tools at their disposal. Good thing FP Markets offers a free Demo Account to its traders and this account comes with virtual funds. In this account, you will be able to practice your trading skills and strategies 100% risk-free. MetaTrader 4 , MetaTrader 5 , and iressTrader platforms are available on mobile. Mobile trading enables traders to trade anywhere they are, and anytime they want when connected to the internet. This is one of the significant product in the trading industry that traders seek not just for convenience but also to be ankle to track their trades without any hustle.

As with most trading platforms, FP Markets give you a choice between the MetaTrader 4 , MetaTrader 5 . But unlike most, you can also use the special IRESS platform if you’re in Australia. There are no hidden charges here — that means no withdrawal fees. Although there are no fees for bank transfer withdrawals to Australian banks accounts, you will face a $6 fee per transaction to withdraw to international accounts.

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