FP Markets Review

3.464 · 87 REVIEWS

First Prudential Markets

Also FPMarkets.eu

Updated: May 13, 2021 · FPMarkets.com  · Is this your company?

FP Markets is an online forex broker. FPMarkets offers MT4, MT5, and Iress mobile trading, and web-based global forex trading top platforms. FPMarkets.com offers over 60 currency pairs, gold, silver, other precious metals, CFDs, Indices, stocks and cryptos for your personal investment and trading options.

FP Markets
February 2020 - January 2021:  Multiple accounts have spammed the FPA's forums for FPMarkets.  The first account involved in this incident has IP overlaps with FP Markets representatives as well as many of the later accounts involved in the incident.  CLICK HERE to see some of what was posted.

FPMarkets.com is part of First Prudential Markets Pty Ltd group. Known members of this group include ZeroMarkets.com, FXMarkets.live.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $100
Established: 2005
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
Prohibited countries:
Trading platforms: MT4, MT5, WebTrader, IRESS
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (60+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (15+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
MAM: Yes
PAMM: Yes
CopyTrading: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, BPAY, FasaPay, Klarna, Neteller, Ngan Luong, PayPal, PayTrust88, Poli, Skrill, Transfer from Existing Broker, UnionPay
Withdrawal Methods: VISA, MasterCard, FasaPay, Neteller, Ngan Luong, PayPal, PayTrust88, Skrill

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FPMarkets.com profile provided by FP_Markets, Jul 11, 2019

Established in 2005, FP Markets has become one of the largest and most reputable players in the industry. We service traders from over 150 countries and execute billions of dollars in transactions daily. We offer CFDs across Forex, Equities, Cryptocurrencies, Commodities and Futures.

3.464 · 87 REVIEWS
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Traders Reviews

felix,
london, United Kingdom,
May 12, 2021,
Guest

dealindesk

Service use: Live

Length of use: 6-12 Months

This a broker when i signed on and opened account with them told me i was opening ECN account, 6 months later my account is wiped clean with no fund left, using all the strategy ever invented by man for forex trading. i always had this feeling that something wasn't right, the rate of loses, no matter how you trade you always lose and today i got this email from FP market about margin call
''You can contact an FP Markets representative on live chat or email the dealing desk at dealingdesk@fpmarkets.com to discuss your position.'' check the email there saying dealingdesk@fpmarket.com, then i checked again what is dealingdesk and got this
'' Dealing Desk brokers literally create a market for their clients, meaning they often take the other side of a clients trade.'' So by taking the other side of clients trade meaning when i enter a long position you the broker will take the short position against me thereby manipulate everything to your advantage and then the client will lose.
the question is, how do you expect you client to stay on trading when they are losing all their investment.
People/investors be careful of wolves brokers in sheep clothing especially Australians brokers
My review is 0 star for any Australians broker
Anyone giving a 3,4 or 5 star review here for FP market is in on their scam..... investor be carefull
 
Mumbai, India,
May 3, 2021,
Registered user

Live Account is working now

Length of use: 3-6 Months

It seems my live account is working now. I urge FP markets team to stop disabling my trading account in future. Else i will need to keep making negative review about it.

May 2, 2021 - 1 Star For some days my trading account at fp markets was working again. But once again today ( 3rd may 2021 ) this FP markets guys stop my trading account so i can't login. Please FPA team i request you to help me with this issue. They intentionally doing this things now to harass me. I already mentioned my trading account number in my previous review, yet the representative from FP market acted as if i din't mention it and he ignore the review.
Is fp markets willing to take the responsibility of the losses happening on open positions because they disable my trading account? Who is going to bear the losses?

Apr 19, 2021 - 1 Star As if my previous bad experience wasn't enough now FP Markets today disabled my trading account for unknown reason. My position was in profits until i noticed that i cannot close my open positions because trading was disabled in my trading account. So i contacted the live support agent and he said that i need to reset my password. So after resetting my password i am now no longer able to login to my trading account because it's giving "Account Disabled" on mt4 account.

FP Markets made me lose portion of my profits because of error from their end maybe technical or intentional. I urge people to becareful using this broker either they're amateurs or they intentionally do things like this to make clients lose profits.

I have all the screenshots of chats with their support agent if anyone wants proof i can give to them in private message.

Apr 8, 2021 - 1 Star The only reason i deposited on FP Markets is because of "Indian Payments Method" Which is based on "MPSA" method. Because this is easy for me to deposit and also the fees is very less as compared to other withdrawal methods ( as the exchange rate is decent dollar to rupee ).

Now you maybe thinking that's a good deal, but here's the catch. They only offer MPSA deposits and no MPSA withdrawals. Meaning only your deposits is possible with this method. And for withdrawal you have to use other methods ( which will incur heavy fees as an indian you already know how bad is neteller, skrill and other ewallet exchange rate ).

When i deposited i saw MPSA withdrawal method already available, i din't knew they will be removing this withdrawal method later on. This is how FP Markets plan to get Indians to join FP Markets. Also i requested my account manager to call me multiple times on live support. But the live support agent keep on saying he will call but he never calls.

I will keep updating about this case, if this issue is not resolved i would like FPA to allow me to open FPA court case against FP Markets for this unethical behaviour and warn all indians about this.

Reply by FP_Markets submitted Apr 29, 2021 Dear Client,

Thank you for your review.
We strive to ensure every client is satisfied with our business, and we apologize for any way in which we may have inconvenienced you.
We'd appreciate the opportunity to investigate your complaint further and regain your trust.
Could you please provide us with your account number and any relevant details via email at supportteam@fpmarkets.com.

We look forward to hearing from you.
Thank you in advance for your cooperation.

Kind Regards,
FP Markets

FPA Forums Team Note: This reviewer provided an account number.
It should be visible to you while you are logged in as representative.
 
Cascais, Portugal,
Apr 29, 2021,
Registered user

Excellent Broker with Outstanding customer service

Service use: Live

Length of use: 3-6 Months

I've been trading for over 20 years and have tried many brokers...FpMarkets is certainly one of the best...Both their trading conditions, their customer service and technical assistance are excellent...
 
SG, Singapore,
Apr 13, 2021,
Registered user

Trades execution and Funds withdrawal is Really Fast

Service use: Live

Length of use: over 1 Year

Have been using them for a year and there's no downtime or requote in their trading platform. Funds withdrawal is fast and received through wired transfer within one working day. One of the lowest spread and best broker I ever used so far.
 
Marsberg, Germany,
Apr 9, 2021,
Registered user

Service use: Live

Length of use: 6-12 Months

i am totally satisfied with Fp Markets I could give you 5 stars with no hesitation, comparing to other broker I didn't face any problem with you guys, the Deposit / withdrawals are so smooth, with no extra charges. spreads and general trading conditions are very logic and suitable with my need. customer service are very friendly and efficient
Great job .
 
s, Philippines,
Apr 8, 2021,
Registered user

Very accommodating support

Service use: Live

You will be entertained and will be guided to every concern you have..
no hidden charge on your accounts, and I say even though they have commissions on their Raw account, it is still lesser vs other ECN accounts that only offers low spread..
 
India, India,
Apr 8, 2021,
Registered user

Good

Service use: Live

Length of use: 0-3 Months

I Am happy with Fpmarkets reply.. My previous review update on my mistake ... Now .. my all problem solved .. my thinking was wrong .. I am sorry..

Mar 31, 2021 - 1 Star Never Give Withdrawal. ... I think Good Brokar .. But totally Scam Brokar I west My money After deposit . Never withdrawal

Reply by FP_Markets submitted Apr 7, 2021 Dear Client,

Thank you for your review.

We do not offer MPSA withdrawals at the moment. Please contact our Cash department at cashteam@fpmarkets.com and we will happily assist you in withdrawing your funds.

We appreciate your understanding.

Kind Regards,
FP Markets
 
Saeed,
Dar es salaam, Tanzania, United Republic of,
Apr 2, 2021,
Guest

Great job and trustworthy

Service use: Live

Length of use: 3-6 Months

The broker doesn’t delay any of your withdrawals or deposits
They got very tight spreads
Great broker
 
Manila, Philippines,
Apr 1, 2021,
Registered user

withdraw

Service use: Live

Length of use: over 1 Year

I just ask for withdraw on a sleeping account and i take back the amount i ask with quick answer and few exchange of mail.
Great hotline.
Fund given back in 2 days
Thanks
 
Uk, United Kingdom,
Apr 1, 2021,
Registered user

Stopped

Service use: Live

Length of use: over 1 Year

It's not bad company
Quick withdrawal and and receive it
Easy and understandingly sow smart website

But he dropped down leverage from 1:500 to 1:30 and I know why !!!!!!

Dodgy and again DODGY
 
Reply by FP_Markets submitted Apr 7, 2021:
Dear Vadim,

Thank you for your review.

Kindly be advised that ASIC’s product intervention order imposing conditions on the issue and distribution of contracts for difference (CFDs) to retail clients took effect at the end of March. The maximum CFD leverage available to retail clients now ranges from 30:1 to a 2:1, depending on the underlying asset class.

We sent multiple notifications to our clients via email before the change took place.

If you have any questions or concerns, don’t hesitate to let us know.

Kind Regards,
FP Markets

Frequently Asked Questions

Is FPMarkets a good broker?

Unbiased traders reviews on ForexPeaceArmy is the best way to answer if FPMarkets is a good broker. https://www.forexpeacearmy.com/forex-reviews/10476/fpmarkets-forex-brokers.

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent FPMarkets community discussions: https://www.forexpeacearmy.com/community/tags/fpmarkets.

Is FPMarkets regulated?

FP Markets Pty Ltd is regulated by the Australian Securities and Investments Commission (ASIC) under an Australian Financial Services Licence (AFSL) 286354.

What does FPMarkets trade?

FPMarkets offers a number of assets to trade with, including:

  • Forex
  • CFDs
  • Equities
  • Precious metals
  • Commodities
  • Indices
  • Cryptocurrency CFDs

What is the minimum deposit for FPMarkets?

The minimum deposit to open an account from FPMarkets is AUD100 or equivalent for all types of MT4 and MT5 accounts.