Overview

FP Markets is a globally multi-regulated broker, founded in 2005 and headquartered in Sydney, Australia. It offers trading in CFDs on Forex, Shares, Indices, Commodities, and Cryptocurrencies.

Regulations:

ASIC, Cysec.

Pros:

  • Multiple account options.
  • Tight Spread.
  • Diverse deposit and withdrawal channels.
  • Social Trading.
  • No Deposit fees and Low withdrawal fees.
  • Low Forex fees.
  • Great Education tools.
  • No inactivity fees.

Cons:

  • No negative balance protection under ASIC.
  • Complex Fee Structure.
  • Forex Withdrawal issues.
  • Limited product portfolio.
  • High Minimum deposit of $100
  • Some withdrawal options are not free.
  • Does not hold a banking license.
  • High fees for international bank withdrawals.

Platforms:

Mt4, Mt5, Webtrader, cTrader,IRESS.

Is FP Markets safe for traders?

FP Markets does not have negative balance protection under ASIC, which may expose traders to significant losses. The fee structure is complex, with some withdrawal options incurring fees, and there have been reports of Forex withdrawal issues. They offer diverse trading instruments, but their product portfolio is limited. Additionally, the high minimum deposit of $100 may deter some traders. FP Markets also do not hold a banking license, which might raise concerns about fund security. Many investors have raised concerns about certain company agents appearing to be scammers. Traders should conduct thorough research before making any commitments.

VYFXB Analysis of FP Markets:

FP Markets broker provides various benefits, such as offering multiple account options, tight spreads, and diverse deposit and withdrawal channels. Its social trading feature, absence of deposit fees, low forex fees, and excellent educational tools make it a go-to choice for beginners. The broker also does not charge inactivity fees and maintains low withdrawal fees, making it cost-effective for active traders. However, there are drawbacks, including the lack of negative balance protection under ASIC, a complex fee structure, and withdrawal issues in forex trading. Additionally, it has a high minimum deposit of $100 and a limited product portfolio and it also does not hold a banking license. Potential clients are advised to carefully consider these factors in their trading priorities and risk tolerance levels. Reading broker reviews could provide valuable insight.
Best Forex Broker -VYFXB Scale= 3.5/5