FP Markets Platforms | How FP Markets Platforms Work

Introduction

‘First Prudential Markets’ or ‘FP Markets’ for simplicity is an Australian forex and CFD Broker that has a long tracking record from 2005 with the largest trading options and lowest fees.

You can trade on FP Markets on different platforms like MT4 / MT5 and there’s a new mobile trading platform as well. In this article, we will discuss each one of them in detail.

FP Markets – Mobile Platform (New)

Pros

Cons

  • Beautiful UI
  • Smooth navigation
  • Easy-to-use
  • Two-factor authentication
  • No TouchID/ FaceID option
  • No search option
  • No notification and alerts option

Languages

FP Markets mobile platform is available in a number of languages as the following table shows.

FP Markets – Mobile Platform – Languages

Arabic

Chinese

English

French

German

Greek

Indonesian

Italian

Malaysian

Portuguese

Russian

Spanish

Thai

Vietnamese

 

User interface (UI)

The UI of FP Markets mobile trading platform is very user-friendly with a great ability to navigate between sections smoothly.

FP Markets Platforms | How FP Markets Platforms Work

FP Markets – Mobile Platform – UI

Login and Security

The mobile platform does support a two-step verification login method nor Touch/ Face ID.

FP Markets Platforms | How FP Markets Platforms Work

FP Markets – Mobile Platform – Login

Searching

Unfortunately, there’s no search option in the platform.

Placing orders

There are 2 types main types of orders:

  1. Buy limit
  2. Sell limit
  3. Buy Stop
  4. Sell Stop

FP Markets Platforms | How FP Markets Platforms Work

FP Markets – Mobile Platform – Place Orders

Notifications and alerts

There’s no option to set alerts or notifications in the FP Markets mobile trading platform.

Portfolio and reports

FP Markets has clear portfolio and fee reports. You can easily see your profit-loss balance and the commissions you paid.

MT4 Platform

Pros

Cons

  • Available on Windows / Mac / Web / Android / IOS
  • Order confirmation
  • Customizable charts
  • Available in a number of languages
  • Easy to use
  • Ability to social trade
  • Good searching functions
  • Notifications and price alerts on Desktop and Mobile versions
  • Lacks two-step verification
  • Old desktop design
  • No price alerts in web version

Languages

MetaTrader 4 is available in a number of languages like:

MT4 Languages

Arabic

Bulgarian

Chinese

Croatian

Czech

Danish

Dutch

English

Estonian

Finnish

French

German

Greek

Hebrew

Hindi

Hungarian

Indonesian

Italian

Japanese

Korean

Latvian

Lithuanian

Malay

Mongolian

Persian

Polish

Portuguese

Romanian

Russian

Serbian

Slovak

Slovenian

Spanish

Swedish

Tajik

Thai

Traditional Chinese

Turkish

Ukrainian

Uzbek

Vietnamese

 

User interface (UI)

MT4 has a very customizable UI that you can adjust according to your needs and preferences. On the other hand, it seems hard to find some of the features inside.

FP Markets Platforms | How FP Markets Platforms Work

MT4 – Mobile Version – UI

Login and Security

Unfortunately, the MT4 does not provide a two-step verification method for logging in, and it does only support a one-step login.

Searching

Searching using the MT4 platform has two different options:

  • You can search by categories and find assets.
  • You can also type the name of the asset and search for it manually.

FP Markets Platforms | How FP Markets Platforms Work

MT4 – Mobile Platform – Search

Placing orders

MT4 has a simple order types which are:

  1. Market
  2. Limit
  3. Stop
  4. Trailing stop

In addition to those 4 types, there are other orders which are the time limit ‘Good ‘til time’ (GTT) and ‘Good ’til canceled’ (GTC).

There’s also an order confirmation feature in MT4.

Notifications and alerts

Unfortunately, the MT4 web trading platform does not have an option to set price alerts and notifications unlike the desktop and mobile versions.

FP Markets Platforms | How FP Markets Platforms Work

MT4 – Mobile Version – Notifications Settings

Portfolio and reports

Under the ‘History’ tab, you can find your portfolio reports with a clear fee description.

FP Markets Platforms | How FP Markets Platforms Work

MT4 – Mobile Version – Portfolio

MT5 Platform

 

Pros

Cons

  • User-friendly UI
  • Support +20 languages
  • Have two-step verification method
  • Price alerts
  • Not suitable for beginner traders

MT5 is a free application for traders allowing them to perform technical analysis and trading operations in the Forex and exchange markets.

Languages

MT4 does support over 20 languages including English, French, Spanish, Italian, Japanese, and Chinese.

User interface (UI)

MT5 was launched in June, 2010. It has about 1 million users worldwide. It also has a good interface which is similar to MT4 with the main functionalities available. MT5 is more suitable for advanced traders.

FP Markets Platforms | How FP Markets Platforms Work

MT5 desktop version

FP Markets Platforms | How FP Markets Platforms Work

MT5 – Mobile Version

Security

MT4 encrypts your trading data with all of your information from cyber attacks as well as not revealing your IP address while trading using the platform.

From a login perspective, MT4 has a two-step verification method as well to protect your account from hacks.

Research

MT5 offers financial and forex news from international agencies and provides a daily broadcast of dozens of newsletters from global events. MT5 also provides you with powerful and clear searching tools.

FP Markets Platforms | How FP Markets Platforms Work

MT5 search

Placing orders

MT5 has the same order types as the MT4 platform which are:

  • Market
  • Limit
  • Stop
  • Trailing stop

In addition to these 5 order types, the MetaTrader 5 platform has two more order options which are:

  • Buy stop limit
  • Sell stop limit

Like the MT4, MT5 has ‘stop loss’ and ‘take profit’ options while trading as well.

Notifications and alerts

MT5 has instant notifications and alerts in its system to never miss an opportunity in the market.

Reports

The MT5 platform carries news reports from international news agencies and also sports an economic calendar.

4. FAQs

    1. How long does it take to verify my account?
  • It takes about 1 business day to verify your FP Markets account.
    1. Can I open more than one trading account?
  • Yes, you can open sub-accounts under your main account. Each sub-account can have its own base currency.
    1. Does FP Markets allow bot trading?
  • Yes, it does.
    1. Does FP Markets give a bonus?
  • Unfortunately, FP Markets does not offer bonuses on trading accounts.
    1. Does FP Markets allow scalping?
  • Yes, FP Markets does allow scalping and hedging.
    1. Where is my money held?
  • Client funds are held with a AAA rated bank such as National Australia Bank or Commonwealth Bank of Australia. All client funds are held in segregated accounts.
    1. Is the swap-free account option available?
  • The swap-free account option is available on both our Raw and Standard account types on the MT4 and MT5 trading platforms.
    1. How do I login using the MT4 mobile platform?
  • Steps:

1. Go to ‘Settings’

2. Click on ‘Manage Accounts’ or ‘Settings’

3. Then click on the small plus sign or select ‘New Account’

4. Then select ‘Log in to an existing account’

5. Search for the broker name

6. Select the server your account was set up on

7. Enter your login credentials and password

8. Click on ‘Sign In’

    1. Can I login to more than one account from the same computer?
  • Yes, you can do such a thing by using the MT4 Multi Terminal.
    1. Can I login to the same account through different devices?
  • Yes, you can login to the MetaTrader 4 platform using the same password and username through different devices.
    1. Does FP Markets accept payments from third parties?
  • FP Markets does not accept payments from third parties and will only accept funds that we receive directly from the named trading account holder.


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