FP Markets review - Regulations, Trading Platforms and instruments, Pros and Cons.
5 star review by safyu90, Sweden
What is FP Markets?
FP Markets is a forex broker established in 2005 and regulated by ASIC (Australia), CySEC (Cyprus), and the FSCA (South Africa). It is also registered with the SVGFSA (St Vincent and Grenadines).
FPMarkets offers offers the popular MT4, MT5 and cTrader trading platforms plus added support for Autochartist plugin and FX Blue addons. FP Market Social Trading portal for passive copy-trade investors is fully compatible with MT4.
Australian traders focused on the stock market would be pleased with Iress DMA trading platform with charting by TradingView. Both MetaTrader and Iress have mobile trading apps. FP Markets offers its own mobile app as well.
There are over 10,000 trading and investment instruments offered by this broker including over 8,000 stock shares available with Iress, and over 70 forex currency pairs, cryptocurrencies, commodities, precious metals and indices as MetaTrader CFDs.
FP Markets analytics consists of daily and weekly technical analysis reports and a fundamental analysis folder covering current world economics events. The have a YouTube channel that has an extensive archive of trading education videos.
Please read FP Markets Reviews below and share live trading experiences with this broker.
March-August 2021: More FP Markets multis have continued to spam non-commercial areas of the FPA's forums. Some of their posts have been added to the thread linked in the previous paragraph.
Broker Details
Minimum Trade Size: | 0.01 |
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Maximum Leverage: | 500:1 |
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Minimum to Open Live: | $100 |
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Established: | 2005 |
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Address: | Level 5, Exchange House 10 Bridge St Sydney NSW 2000, Australia |
Contact: | support@fpmarkets.com, +61 (0)2 8252 6800 |
Regional offices: | |
Regulators: | ASIC #ABN 16 112 600 281, AFS 286354, CySEC #371/18, SVGFSA #126 LLC 2019, FSCA # FSP 50926 |
Prohibited countries: |
Trading platforms: | MT4, MT5, cTrader, WebTrader, IRESS |
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Web Trading: | ✅ Yes |
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Mobile Trading: | ✅ Yes |
ECN: | ✅ Yes |
Currencies: | (70+) |
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Cryptocurrencies: | (5+) Bitcoin, Litecoin, Ethereum |
CFD: | (15+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Bonds, Oil, Other Commodities, Futures, ETF |
Trading Conditions |
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Hedge: | ✅ Yes |
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EAs/Robots: | ✅ Yes |
News Trading: | ✅ Yes |
Scalping: | ✅ Yes |
MAM: | ✅ Yes |
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PAMM: | ✅ Yes |
Copy Trading: | ✅ Yes |
Deposit Methods: | Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, Dragonpay, FasaPay, Klarna, Neteller, Ngan Luong, PayPal, PayTrust88, PerfectMoney, Poli, Rapid Transfer, Skrill, SticPay, Transfer from Existing Broker, UnionPay |
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Withdrawal Methods: | VISA, MasterCard, FasaPay, Neteller, Ngan Luong, PayPal, PayTrust88, Skrill |
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FP Markets Most Helpful Customer Reviews
The service of FP Markets is very good.
The most professional team. Superior platform
Jul 15, 2021 - No Rating This platform has the most professional team. Everything works perfectly well, from deposits/ withdrawals as well as verifications. Customer protection and security is their other name. I just love trading with FPmarkets.
Withdrawn after I posted review for complaining on FPA.
Mar 30, 2023 - 1 Star My account number is 63512691. Trading at FP markets for couple of years. At Mar. 2nd, I win the profit, then applied withdraw. But nothing happening. Client support team keep the same replying : Keeping waiting. The account manager also say sorry he couldn't help more. Almost one month pass, I still cannot withdraw. Please keep an eye on this broker.
Reply by FP_Markets submitted Apr 5, 2023 Dear AlexYu1972,
We are sorry to hear you had a negative experience.
Please be advised that withdrawal requests are handled by FP Markets in a timely manner and in accordance with the terms and conditions that are already accepted by our clients.
Therefore, our review shows that specific parameters were not met, hence the delay. We are more than happy to contact us directly and explain. However, we can see that the amount was eventually withdrawn.
Kind regards,
FP Markets
500 x friendly (and they pay my salary!)
Thus reviewer has IP overlaps with multiple FP Markets employees as well as with an account used to spam the FPA's forums for FP Markets. Per FPA policy, the rating on this review has been set to Zero stars.
UPDATE to my case. FPmarkets still ignoring me...
"Dear Mate,
Please be advised that we have identified abusive trading on your account(s) and as a result we will be disabling trading and terminating your account effective immediately.
As per the client agreement 1.1 we define the Abusive trading to be:
“Abusive Trading” shall mean the following actions, but not limited to, pip-hunting, scalping, arbitrage, manipulations or exploitation of any temporal and/or minor inaccuracy in any rate or price offered on the Trading Platform, a combination of faster/slower feeds, use of any robots, spiders or other automated data entry system with the Trading Platform (unless the Client receives express written consent by the Company prior to activating the robot), violation of the Client’s obligations under paragraph 2 of Appendix."
Under clause 25.1 (o) and 25.2 (g) we reserve the right to cancel profits gained through abusive trading.
Regards,
--
Kind Regards,"
As you can see they don not specify anything, and just come with general statements, which could be applied to any trading strategy. They call is proof, I call it primitive SCAM. They are advertised as a company with a perfect conditions for a EAs, but happens to be, that you must get a written consent by the Company prior to activating the robot. I will quote information featured on their website: "FP Markets provide ideal conditions for scalping and EAs with no minimal distance between the spread." This is FPmarkets themselves! I cant believe that the people who are doing this to me wrote: "No price manipulation, no requotes and no dealing desk". They are a joke. I will continue to post communication updates. At least they are replying to me here. And the statement that their team has provided official reply me is a LIE!
Nov 27, 2021 - 1 Star I have been trading with them for over 6 months. My account number is: 8164066. During trading everything was perfect: spreads, pricing execution, but when I submitted a withdrawal issues started. I requested a withdrawal of 4.6K, and it was not processed in time. After communication with the support, my withdrawal was put on hold and only 2K were returned. My account was cancelled, all my data was deleted. The risk team does not reply to me and they do not agree to speak with me over the phone. Hopefully, I have all the trading history and data saved so I can contact the regulator. If somebody thinks that they are reliable brokers, they are wrong. They are regular marketmakers who do not want you to make profits and if you made profits they simply cancel it for some unrealistic reasons. So basically if you want to trade, make profits and get your deserved money they are definitely not for you! I hope this is going to be the way to get some feedback from them.
Reply by FP_Markets submitted Dec 1, 2021 Dear Mate,
We acted according to the FP Markets Client Agreement which you can find in the list of our CFD Accounts Legal Documents.
We have conclusive evidence that your account was engaging in abusive trading practices and therefore we have refunded your initial deposits.
Our team provided you with an official reply addressing your concerns.
If you have any further questions, don’t hesitate to let us know.
Kind Regards,
FP Markets
Recent User Reviews of FP Markets
Recommended.
Mar 15, 2024 - 1 Star I want to share my experience , after keeping losing in last 4 months , I mad deposite of 1400$.
After 2 days I made withdrawal of 1674.48 ,only 274.48 arrived in my bank account , and 1400$ is missing, once I contacted the support keeps saying the same réponse my withdrawal was successfully processed,
Fp markets manipulates deals and deletes profits
It has been trapping traders in the recent period with offers of spreads and low commissions
In the event of achieving profits, the company manipulates deals, deletes profits, or creates fake deals with the aim of losing the trader, zeroing out the balance and profits made, or closing deals suddenly.
ارجو الحذر من هذه الشركة و عدم الايداع
فقد اصبحت بالمراحل الاخيرة للنصب
بعد ان قامت بأغلاق معظم مكاتبها و تتحول تدريجيا لشركة وهمية
و تقوم بالايقاع بالمتداولين بالفترة الاخيرة بعروض السبريد و العمولات المنخفضة
تقوم الشركة في حال تحقيق الأرباح بالتلاعب بالصفقات و حذف الارباح أو خلق صفقات وهمية بهدف خسارة المتداول و تصفير الرصيد و الأرباح المحققة او اغلاق الصفقات بشكل مفاجئ
disable account access including my funds for abnormal trading review
i have my signals and am trading to that. I guess making money for them is the part they don't like. otherwise this is pretty straightforward - they are abusing their power by using fine language in their agreement.
now their support has no answers. they wont provide a timeline or anything of when this will be resolved
i would not recommend this trader and will certainly look for a more reputable broker.
We are sorry to hear you that had a negative experience.
Please be advised that FP Markets reserves the right to close accounts under specific circumstances outlined in the terms and conditions agreed by our clients during registration. Our assessment reveals that the account closure was a result of particular trading activities detected through our internal monitoring system.
We are available to provide further clarification upon direct contact with us.
Kind regards,
FP Markets
Disappointed with Communication and Lack of Transparency
However, things went downhill when I received an email from them saying that they had decided to terminate my account due to liquidity issues. They said that their liquidity providers had difficulty accommodating the trading flow from my account, however my account complies with there trading policies, free from abusive practices. and that they were offering me an alternative solution by creating a new account with institutional pricing and execution. This new account would include only major currency pairs for trading.
I was shocked and confused by this decision, as I had never received any warning or feedback from them about my trading activities. I had no idea what kind of trading activities they wanted me to avoid, or what criteria they used to evaluate my account. I tried to contact them via email and chat , but they never replied or answered my emails after this email. I felt like they were ignoring me and treating me unfairly.
Moreover, my experience with account management has been less than satisfactory. The account manager assigned to me changed every time, creating a lack of consistency and making it challenging to build a rapport. When I attempted to speak with the account manager for clarification, I was informed that the person was no longer worked at FPMarkets twice for 2 persons .
The positive thing was that they honored was that they let me withdraw the funds without any hassle. I appreciated their honesty and transparency in this regard, but I was still disappointed and frustrated by their lack of communication and professionalism.
I think FP Markets has a lot of potential as a broker, but they need to improve their customer service and communication skills. They should also be more clear and consistent about their trading policies and conditions, and provide more guidance and support to their clients. I would not recommend them to anyone who is looking for a responsive broker.
My accounts numbers 8473053 & 8579831
& 8418088 .
We are sorry to hear about your unpleasant experience.
Please be informed that FP Markets may proceed to close accounts in certain situations as per the terms and conditions that clients agree to during registration. After reviewing your case, we found that your account was closed due to certain trading behavior that was detected through our internal monitoring.
Please feel free to contact us directly and we will be glad to provide an explanation.
Kind regards,
FP Markets
Misleading Advertising and Failure to Honor Refund Promise
When I contacted customer support, the company acknowledged the mistake and promised to reimburse the losses. However, they did not respond to my emails and failed to fulfill their promise.
Be cautious when opening an account with them, as they may overcharge and not honor commitments.
We understand your frustration and apologize for any inconvenience caused.
To proceed with the settlement of the agreement, we kindly request you to return the written confirmation form, from your registered email address.
We apologize for any miscommunication or inconvenience caused by the discrepancies that occurred. Please rest assured that we take your feedback seriously and will work towards rectifying the situation.
We appreciate your patience and cooperation in this matter and look forward to hearing from you.
Kind regards,
FP Markets
Frequently Asked Questions
Is FP Markets a good broker?
Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.
Additionally, we'd recommend to check recent FP Markets community discussions: https://www.forexpeacearmy.com/community/tags/fpmarkets.
Is FP Markets regulated?
- Australia: By the Australian Securities and Investments Commission (ASIC) under an Australian Financial Services Licence (AFSL) 286354.
- Cyprus: By the Cyprus Securities and Exchange Commission (CySEC) under license 371/18.
- South Africa: By the Financial Sector Conduct Authority (FSCA) under license FSP 50926.
What does FP Markets trade?
- Forex
- CFDs
- Equities
- Precious metals
- Commodities
- Indices
- Cryptocurrency CFDs