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Main » FP-Markets Review

FP Markets Review Australia & Test 2024

Is FP Markets safe or scam?

CFD Crypto
Forex
FP-Markets
Favicon
3.8/5
Minimum Deposit
100.00€
Deposit Protection
20,000.00€
Amount of Currencies
12
BTC/USD Spread
62
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Australia
Customers from Australia accepted
T&Cs apply, 18+
FP-Markets
Favicon
4.5/5
Minimum Deposit
100.00€
Deposit Protection
20,000.00€
Maximum Leverage
1:500
Trading Platforms
Android, iOS, MT4, MT5, cTrader, Custom
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Australia
Customers from Australia accepted
T&Cs apply, 18+
Details
Payment Methods
User Reviews

First Prudential Markets, or FP Markets Australia,  is one of the largest online brokers within the online trading industry. They have the necessary jurisdiction to offer their service all over the world and we’ll be detailing their service here.

This FP Markets review Australia is centered around the experience that our team of experts uncovered when making use of the online broker offer. You will find all of the most important aspects of an online broker service covered on this page and the information is updated frequently to ensure that you don’t miss out on the ideal offer.

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Payment Methods
Neteller
PayPal
Bank Transfer
+
License
ASIC - Australian Securities and Investments Commission
Company
First Prudential Markets Pty Ltd
Founded
2005
Website
fpmarkets.com
Available Languages
EN
DE
+
Customer Support
Live Chat, Phone, Email Support
Email
supportteam@fpmarkets.com
Phone
+44 28 2544 7780
Overall Rating
3.8/5
  • New Customer Offers
    3.8/5
  • Usability
    3.8/5
  • Mobile App
    3.6/5
  • Available Account Types
    3.9/5
  • Trading Platforms
    3.7/5
  • Payments
    3.7/5
  • Customer Service
    3.6/5
  • Regulation & Deposit Insurance
    4.0/5
Payment Provider Safety Approval rate
Neteller high
PayPal very high High
Bank Transfer very high
Visa high
Mastercard high
No review posted yet.
User Rating
0/5
5 Stars
0%
4 Stars
0%
3 Stars
0%
2 Stars
0%
1 Star
0%
Last Updated on 04/06/2024
Fact checked by: Kane Gregan

Offers and New Customer Experience

Once you have decided to commit to the world of online trading, you will need to be on the lookout for any new customer offers that are available or any experiences that cater to newcomers. The industry can be fairly complicated the deeper you go and having a good start is crucial to keeping morale high while transacting. With FP Markets Australia, there is no specific welcome offer that is available but all new customers will be able to take advantage of their world-class information service included on their site.

There is an incredible amount of educational resources that are made available alongside a trader’s hub and a detailed help section. These educational resources aim to inform you about the most important aspects of the instruments that are available within their service. You can also open a 30-day demo account before you have to make a deposit with the online broker.

FP-Markets
3.8/5
FP-Markets CFD Crypto
T&Cs apply, 18+
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FP-Markets Highlights
  • 12 featured cryptos
  • No need to have a crypto wallet
  • Trade on crypto price movements

Usability Of The FP Markets Website

In terms of usability, the FP Markets website is unparalleled within the industry. From the home page, you will be astounded by the modern design and sliding price ticker included in the header. You will also find each section of their site to be just a click away with all of the listed tabs and dropdown menus included on the page. To join their service, you also won’t have to even scroll as the process is started from the bright blue button on the homepage. The details of their service offer are also listed on the right for any interested customers.

In terms of the trading platform usability, you will be able to download both MetaTrader 4 and 5, depending on which of the two you prefer as well as WebTrader and a mobile trading app. FP Markets Australia has certainly gone the extra mile to ensure that all customers can use their service with ease. If you are interested in other broker offers head to our Westpac review or OctaFX review pages

Trading Platforms – Three main options to consider

Our FP Markets review found that there are three main trading platforms available at this site. There are the industry standard MetaTrader platforms, MT4 and MT5, that will be familiar to anyone who has read our TMGM review, and you’ll also have a chance to access the IRESS trading platform.

Newcomers will probably want to get started on MetaTrader 4, as this features handy tools like one-click trading, and a good range of custom alerts, plus dozens of technical indicators and analytical objects.

Advanced traders will likely prefer MetaTrader 5, as it features extras like the ability to view up to 100 charts at a time, over 20 timeframes, and a handy strategy tester.

The IRESS platform is a good option for anyone who wants to manage multiple portfolios, while benefiting from DMA pricing and a wealth of historical market analysis.

FP-Markets
3.8/5
FP-Markets CFD Crypto
T&Cs apply, 18+
Bet now
FP-Markets Highlights
  • 12 featured cryptos
  • No need to have a crypto wallet
  • Trade on crypto price movements

FP Markets Accounts

Just about every online broker on the scene provides customers with a variety of accounts to cater to their specific trading needs. You will find that FP Markets Australia is no different and offers a variety of accounts to interested customers. While you are signing up, you will first need to select whether your account will be an Individual account, a joint account or a corporate account. This will depend entirely on your personal circumstances but these options are always available with any online broker.

The further account configuration comes in step 3 of the sign-up process. You will be able to choose between the Standard account or the Raw account within the FP Markets service. With both, the minimum deposit is set at $100. The standard account has zero commissions applicable with spreads from 1.0 pips. The Raw account has spread from 0.0 pips with commissions of $3.0 per lot each way. Depending on what you are after, both of these accounts should provide an option to cater to your needs.

ASIC - Australian Securities and Investments Commission
CySEC - Cyprus Securities and Exchange Commission
FSCA - South African Financial Sector Conduct Authority

 

Versatile Trading Platforms

Another important point within our FP Markets ranking is the trading platforms that are included within their service. If you are dedicated to investing your time and money into the world of online trading, you will be spending most of your time between these two services. Fortunately, FP Markets has decided to include the cTrader and the MetaTrader software package within their online service. The MetaTrader software is the industry standard when it comes to trading platforms and many online brokers back the software by including it within their service.

You will also be able to make use of the Iress software with FP Markets Australia and there are plenty of trading tools at your disposal. Depending on your preference, these platforms will also have different account structures. Be sure to validate this before you commit to opening a specific account with the online broker. Our FP Markets review Australia determined that the offer of trading platforms was above average when compared to other brokers in the industry.

Secure Trading Payments

With such a competitive industry, it is no wonder that online brokers are looking to include the widest variety of payment methods to cater to customer’s needs. You will need to ensure that your preferred method of payment is covered with an online broker before looking to open an account with the online operator. You will also need to keep the processing times of each method in mind to ensure that you don’t have any lost time while trading. To take a look at what payment methods a competitor offers, head to our Pepperstone review or  ASX Australia page.

With FP Markets Australia, you will be able to fund your account using a debit or credit card provided it is VISA or MasterCard. You will also be able to make use of Swift bank transfers with any currency and these are usually deposited within 1 business day. Other supported payment methods include; BPay, POLi, PayPal, Neteller, Skrill, PayTrust, NganLuong, FasaPay, Broker to Broker and OnlinePay. This range of payment methods is very impressive when compared with other online broker offers.

Neteller
PayPal
Bank Transfer
Visa
Mastercard

Fees

Another crucial factor in determining our FP Markets rating is the fees that are applicable to the online service. FP Markets Australia is focused on forex and share trading so we will detail the fees applicable to these instruments within this section. Due to FP Markets having a variety of accounts available, there will also be a large variety in the fees that are applicable with each of them. Depending on what markets you are interested in, the fees will also differ accordingly. Be sure to thoroughly research what you are paying before you decide to commit your funds.

We found that FP Markets manages to keep its fees on a par with those revealed in our AvaTrade review, and this is a good thing. You’ll see that most trading fees are contained within the spread, although there are minimal fees of 3.50 AUD applied for trading forex and metals via MetaTrader.

With the forex and shares markets, you will be eligible to pay spreads. Spreads are the difference in the buying and selling of a specific currency pair. For a standard account, the minimum spread that you will find will be set at 1.0 pips and then vary depending on what currency pair you are looking to invest in. With the Raw account, the minimum spread will be set at 0.0 and also varies according to each currency pair. If you browse through the averages, the Raw account spreads are always lower than the standard account. To take a look at the fees applicable with another online service, head to our Fusion Markets review.

 

Customer Service

An online broker service is only as good as the customer support that the broker manages to provide. With the service being completely online, you will be at the mercy of the software and web platform that FP Markets provides. Whenever an issue might arise, you will need to be certain that you have a reliable method to contact the online broker. Our experts have taken a look at all of the methods that are made available to customers to contact the FP Markets support team and we will run through what you can expect in this section. To browse through another broker’s offer, head to our AvaTrade review.

FP Markets Australia has certainly put their best efforts on offer as they try to claim the title of the best broker in Australia. Their customer support is incredible. With the head office based in Sydney, you will have a physical address to forward any mail or to contact the online broker using physical mail. There is also a dedicated phone number and even a fax number. There is also a toll-free number if you are looking to save on mobile credits. You can also contact the customer support team via email or the live support service always listed on the bottom right of the page.

Our team of experts here at Wetten found that the customer support on offer from FP Markets was both speedy and efficient. The team responded almost instantaneously when using the live chat feature and most of the other methods of contact took up to 24 hours. If you are looking to mail the broker, you might have to wait a bit longer to receive a response. To determine just how other brokers match up to this offer, head to our IG review Australia.

Regulation and Deposit Insurance

The final section of our FP Markets review will be taking a look at what regulations the online broker has to abide by and what insurance you can take advantage of when you are making deposits within their service. Our FP Markets review Australia found that the online broker is regulated by the Australian Securities and Investments Commission. This is fairly standard when it comes to brokers that are based within Australia. You will also find that they hold an Australian Financial Services License which provides further testament to their service.

Customer funds are held in segregated accounts and all of the liquidity streams are via top tier financial institutions. This should provide any interested customer with a certain degree of safety when it comes to trading online with FP Markets. Head to our FXCM review Australia to see just how other brokers manage to keep your account safe.

ASIC - Australian Securities and Investments Commission
CySEC - Cyprus Securities and Exchange Commission
FSCA - South African Financial Sector Conduct Authority
Positive
  • Additional Features - Plenty more to enjoy at FP Markets

You’ll find that FP Markets offers you unparalleled access to seven distinct asset categories and these contain no less than 10,000 instruments. The brand is primarily known for forex trading, although lots of people come here to enjoy trading CFDs for everything from cryptocurrencies to thousands of stocks. Other trading possibilities here include government bonds, ETFs, commodities and indices.

FP-Markets Crypto

Crypto trading offer - Trade on BTC, ETH, DOGE and more

FP Markets lets you trade CFDs (Contracts for Difference) for a dozen of the biggest cryptocurrencies. These include the likes of Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, Solana and Cardano.

Crypto trading costs - Minimal costs included in spread

The good news here is that you won’t face any up front fees for trading crypto CFDs at FP Markets. Instead, you’ll find that all fees are absorbed into the spread. Don’t forget that you can also enjoy leverage of up to 500:1 at this trading site.

Crypto trading conditions - Enjoy the freedom of CFD trading

Don’t make the mistake of thinking that you can directly trade cryptocurrencies at FP Markets. Instead of this, you will be trading crypto CFDs. That means you don’t actually own the digital asset, you’ll be trading on its price movements instead. So, you don’t need to own a crypto wallet, but you can still enjoy the benefits of the volatility for those cryptocurrencies featured at FP Markets.

Conclusion - Making crypto trading simple

FP Markets is a good place for anyone looking to take their first steps into the world of crypto trading. After all, you don’t have to go through the hassle of setting up a crypto wallet, you can just make quick trades based on the price movements of the world’s biggest crypto coins. A good option for anyone looking to diversify their investment portfolio.

FP-Markets
3.8/5
FP-Markets CFD Crypto
T&Cs apply, 18+
Bet now
FP-Markets Highlights
  • 12 featured cryptos
  • No need to have a crypto wallet
  • Trade on crypto price movements
FP-Markets Forex

Forex trading offer

In terms of forex trading, you will be able to trade with over 70 different currency pairs on the FP Markets service. You will also be able to trade 24 hours a day, 5 days a week, as the markets are closed over weekends.

Forex trading costs

Depending on your account that you have opened, you will be able to enjoy minimum spreads from 0.0 pips and if you are using the Raw account, trade commission of $3 per lot. You can also apply leverage up to 30:1.

Forex trading conditions

The conditions to trade forex within Australia are fairly forgiving. You will need to ensure that you have an open, active account with FP Markets if you are looking to trade some foreign currency. Be sure to browse through the terms and conditions to check if you qualify.

Product summary & conclusion

All forex traders will find something to enjoy at FP Markets. After all, you get access to a vast range of currency pairings that go way beyond major currencies. Not only that, but you can trade on spreads of just 0.0 pips, access high leverage and enjoy going short or long. Perfect for all levels of forex trading.

FP-Markets
4.5/5
FP-Markets Forex
T&Cs apply, 18+
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FP-Markets Highlights
  • Over 70 forex pairs available
  • Trading open 24/5
  • Minimal trading fees
FP-Markets Stocks

FP Markets Review FAQ

☑️ How good is FP Markets Australia?

If you are interested in trading some assets online, then you will be on the hunt for finding one of the better online broker services out there. Here at Wetten Australia, we have compiled an extensive review structure that has been applied to every big name on the scene. You will find all the detailed information of each broker service all here in one convenient place. Head to our page now to find out more.

📃 Is there an FP Markets review?

We have dedicated ourselves to bringing all interested readers to the latest and most informative pages on the internet. If you are looking for an FP Markets review then you have come to the right place. Wetten Australia makes use of a world-class review structure in order to evaluate each broker service fairly. We can also use these reviews to rank the brokers accordingly. Head to our page to find out more about the industry.

😟 Is there an FP Markets scam?

There have been plenty of scams popping up online and you will always need to consider if the service you are signing up for is legitimate or not. With our comprehensive reviews, we have put our team of experts to the task of determining whether or not an online broker is providing a quality service or bordering on a scam. Be sure to read over some of our pages here at Wetten Australia to find out more about each of the online brokers.

🖋️ How do I sign up with FP Markets?

Once you have been through our reviews and you are convinced that the FP Markets service is what you are after, then you can begin the process of signing up with the online broker. Our reviews take an extensive look at their service on offer but also detail exactly what you need to do to join the online service. You will find all of our pages are provided free of charge sop be sure to head to our page now to find all the relevant information.

🤺 Is FP Markets safe?

Whenever signing up with an online service, your main concern should be your safety while using the service. FP Markets is a fairly large name within the online trading scene and our experts have analysed their offer to determine the degree of safety that is applicable to customers using their service. You will find all of this information readily available on our website.

Overall Conclusion Of FP Markets

This brings us to the conclusion of our FP Markets review. The online broker has to be considered one of the greatest within the online trading industry here in Australia and the reason for that isn’t very hard to see. You will be able to make use of an incredibly well-designed website that offers some of the best trading platforms on the markets. You will also be able to enjoy relatively low fees while using the FP Markets Australia service.

FP-Markets
3.8/5
Rating
Bet now
Highlights
  • 12 featured cryptos
  • No need to have a crypto wallet
  • Trade on crypto price movements

User Reviews for FP-Markets

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CFD Crypto
Forex
FP-Markets
Favicon
3.8/5
  • 12 featured cryptos
  • No need to have a crypto wallet
  • Trade on crypto price movements
Bet now
Australia
Customers from Australia accepted
T&Cs apply, 18+
FP-Markets
Favicon
4.5/5
  • Over 70 forex pairs available
  • Trading open 24/5
  • Minimal trading fees
Bet now
Australia
Customers from Australia accepted
T&Cs apply, 18+
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