FP Markets Review Australia & Test 2023

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.

4.3/5

FP-Markets Forex

T&Cs apply, 18+

Go to FP-Markets

FP-Markets Highlights

• Over 60 forex pairs available
• Trading open 24/5
• Minimal trading fees

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

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.

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.

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.

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 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.

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.

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.

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.