Opening an account with FP Markets
I really like the account opening with FP Markets, the website layout is very clean and the process is streamlined. Opening an account with a forex broker can be a cumbersome process, however FP Markets have a streamlined process, with live chat available to assist you along the way and same day approval. Their website is easily navigated and user friendly. FP Markets have a max leverage of 500:1, providing traders with industry leading amounts of leverage. To open an account with FP Markets there is a starting deposit of $100, whereas leading brokers have no deposit necessary to open an account. I’m not a fan that they have a minimum starting deposit, as most brokers do not have this, and the obligation of depositing just to access an account just doesn’t sit well with me.
FP Markets Forex Broker Review
So what is it that FP Markets offer their clients? For starters, they offer 12 different funding methods and 10 base currencies and as just as many methods for withdrawals. Some popular payment methods include Skrill, visa/debit card, Neteller, Paypal and more, in AUD, USD, CAD, EUR to name a few base currencies. The client support at FP is impressive, with quick response on the live chat, availability to arrange a call back, live phone lines and email support. FP Markets is an industry leader in their trading support, having a ‘traders hub’ section on their website. The area is easily found, and offers market research, fundamental and technical analysis, education and company news. This sections support their clients’ success in the markets. I think this would be quite useful to traders that are newer to the markets.
FP Markets boasts their fast execution with no dealing desk, with no-requotes ever, meaning traders have high quality trading conditions. One of the more impressive aspects of FP Markets is their extensive offering of tradable products, with over 10,000 instruments across Forex, CFD’s, Equities, metals, commodities, indices, and cryptocurrencies. There are very few brokers that I’ve seen that have so many tradable products, so props to FP Markets for that.
FP Markets Spreads, Fees And Commissions
The pricing at FP Markets is pretty good, but I did find that their spreads fluctuate a fair bit. Their spreads start from 0.0 pips, and low commissions of $3 per side/per lot, compared to the industry standard of $3.5 a side. They also offer no inactivity fee or hidden fees, as well as fee-free deposits and withdrawals. It is essential for traders to keep their costs to a minimum, as commissions can really eat into trader’s profitability.
Our Experience
My experience with FP Markets is a positive one. I was highly impressed with the customer service, trading conditions, client support and the pricing offered by FP Markets. Whilst they do have a starting deposit to open a live account they also offer clients access to a demonstration account so that potential can review the trading conditions without depositing. Overall FP Markets is an industry leading forex broker, cementing its spot in the top forex brokers.
