FP Markets?

#1

Mostly, I absolutely avoiding talking about brokers that I haven’t personally. Which is really the obvious thing to do as well, but I do like to talk about FP Markets. This is not because I want to work with them or anything like that. But this is because my friend who is from Australia keeps on suggesting it to me. I like to ask you guys what you think about this company.

They have no bonus or attractive offer but are licensed by ASIC, so what’s your take on this? I repeat, I HAVE NEVER WORKED with them, so I know very little about them apart from being licensed by ASIC and are Australian based company. It’d be interested to hear what experts feel.

#2

Looking for a reliable broker to go live and came across FP Markets recently ,their spreads, commission costs seem to be lower when compared with other similar brokers.

Wanted to know if they are a true ECN broker and if they can be reliable to trade with?

#3

Before you trade with broker who hold ASIC, this is the new terms and condition under ASIC.

"From 29 March 2021, ASIC’s product intervention order will:

restrict CFD leverage offered to retail clients to a maximum ratio of:
30:1 for CFDs referencing an exchange rate for a major currency pair
20:1 for CFDs referencing an exchange rate for a minor currency pair, gold or a major stock market index
10:1 for CFDs referencing a commodity (other than gold) or a minor stock market index
2:1 for CFDs referencing crypto-assets
5:1 for CFDs referencing shares or other assets
standardize CFD issuers’ margin close-out arrangements that act as a circuit breaker to close-out one or more a retail client’s CFD positions before all or most of the client’s investment is lost protect against negative account balances by limiting a retail client’s CFD losses to the funds in their CFD trading account, and prohibit giving or offering certain inducements to retail clients (for example, offering trading credits and rebates or ‘free’ gifts like iPads)."

If you are okay with the leverage then no problem. If the leverage is not suitable, you may always go for other broker such as Pacific Union and so on

#4

I currently Trade with FP Markets Raw Spread account (ECN account). They have some of the tightest spreads compared to other similar brokers.
Another advantage is that they are in business for over 15 years regulated by ASIC, so no need to worry about security of the funds.
The overall experience has been good so far, they were some small issues in between relating to linking under a IB, but it was solved really quickly by their support team.

#5

I’m considering to start live trading with FP Markets based on their positive reviews. Their ECN account commission per lot is just $3, is this standard across pairs? Does it include in their Minors and Exotics?

#6

FP Markets is an ASIC and CYSEC regulated broker with over 15 years of experience in forex business making. It is reliable to trade with them.

I’m trading with FP Markets Raw ECN account. The spreads offered are as low as 0.0pips, and the commission cost per lot is $3.

#7

I looked into this broker before. My friend discouraged me. I ended up with Forexchief. Still using it, works very well with news trading. Well, the reviews here looks good, maybe will consider again next time.

1 Like
#9

'm trading with FP Markets Raw account, and the spreads are some of the tightest out there (averages at 0pips most part of the day in EURUSD)

The commission per lot is 6$ per round lot, which is comparatively cheaper than other similar ECN brokers.

#10

Recently started trading with FP Markets, The spreads offered are some of the lowest starting from 0 pips for most part of the day, and the execution is fast.

#11

From my personal experience with brokers, I would consider FP Markets as a reliable broker. They are regulated by ASIC and are in business for over 15 years.

Their trading conditions are good, and I Currently trade with their MT4 platform using their raw spreads account, and so far, I have not faced any issues.

#12

Brokers in the Australian region are soon going to follow suit in restricting a lot of trading flexibilities previously enjoyed by their clients. So that is something you should consider before opening accounts with ASIC regulated brokers. One of the hardest hit things would be the leverage on CFDs. FP markets as such is known to be a reliable broker with low spreads, but very soon offshore brokers such as roboforex and fxview might become a more feasible choice for a high leverage broker.

#13

I find FP Markets as a suitable broker, their 24hrs customer line is always quick in responding to most of my queries, and I opened an account with a minimum balance of 100$.

The spreads, commission and slippage offered by them are lower when compared to other similar brokers.

#14

Currently trading with FP Markets, they are a reliable broker that has some of the tightest spreads, and the executions are faster when compared to other ECN brokers.

#15

Based on my experience with FP Markets for nine months, I consider it as a reliable broker to trade because of its ASIC and Cysec regulation.

The spreads in FP Markets are really lower than usual, and as a scalper, I must say their execution is pretty fast.

#16

Trading with FP Markets for four months, the spreads are consistent and stable even during high volatile market news.

There have been no issues with them so far, and the deposit and withdrawal are really smooth.

#17

How is your experience with their customer support?

#18

Currently trading with FP Markets and as a scalper, I prefer trading with them because their spreads are consistent and execution speed is faster.

#19

I don’t think that you should go by what others say especially when you are choosing a broker. They suggest brokers on the basis of what worked for them. But it doesn’t at all mean that it will work for you as well. Choose your brokers yourself and make your own decisions to become profitable.

#20

From my personal experience, I would say their customer support are surprisingly quick in responding to emails and chats. They would also get back to us if any query took long to solve.

1 Like
#21

I agree, it’s a good broker with good customer service and trading conditions than other ecn brokers.