FP Markets Pros & Cons | Get Information at a Glance

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.

Disclaimer: CFDs have a high risk of losing money rapidly. About 80% of retail investor accounts lose money due to leverage when trading CFDs with this provider. Please note that CFDs are not complying with the islamic religion. And if you want to trade in CFDs you should consider a swap-free account to follow islamic rules.

Learn more about CFDs for muslims.

In this article we’re addressing the main pros and cons of FP Markets in each broker aspect.

FP Markets

Pros

Cons

Safety

  • Regulated by CySEC, ASIC, and FSA
  • Negative balance protection
  • +15 years of experience
  • Two-factor authentication
  • No banking background
  • No investor protection

Offering of Investments

  • Forex and CFD trading
  • Commodities and stocks trading
  • Cryptotrading
  • Social trading
  • No ETFs, mutual funds, bonds, options and futures trading

Account Opening

  • Fast
  • Fully digital
  • Very helpful customer support opening guide
  • Various account types
  • High minimum deposit for CFD and stock accounts

Fees and Commissions

  • Low trading fees
  • No inactivity fees
  • No deposit or withdrawal fees on most of the options
  • High withdrawal fees over international bank transfers
  • High CFD Fees

Deposit & Withdrawal

  • Variety of base currency options
  • No withdrawal fees on credit cards
  • No deposit fees
  • Several deposit and withdrawal options
  • High withdrawal fees for some options

Platforms and Languages

  • Available on MT4 and MT5
  • Smooth navigation
  • Easy-to-use
  • Two-factor authentication
  • Price alerts
  • Order confirmation
  • Customizable charts
  • Available in a number of languages
  • Ability to social trade
  • No TouchID/ FaceID option

Research Tools

  • Autochartist tool
  • Forex Calculator
  • Useful MT4 toolbox
  • Some research tools are paid

Customer Service

  • Live chat, phone, and email support
  • Fast responses
  • Relevant answers
  • No 24/7 support

Education

  • Demo account
  • Educational webinars
  • Ebooks and glossaries
  • Video tutorials and newsletter
  • None

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.

If you want more information, please check out FP Markets Full Review.

 



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