Fake FP Markets Forex Broker

GENERAL INFORMATION AND REGULATION FP Markets is an FX and CFD broker that offers leveraged trading of up to 1:500 on Forex, Metals, Commodities, Indices, Equities, Cryptocurrency CFDs. The brokers head office is located in Sydney, Australia and is regulated by the Australian Securities and Investment Commission (ASIC). Five different account types are offered, with three supported trading platforms. Different account types are made up of different price structures, allowing clients to choose different ways of paying costs. Stay with us to find out more about the advantages and disadvantages of choosing this broker. FP Markets is an Australian broker founded in 2005 and regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). It is also a multi-asset broker with more than $1 billion in daily trading volume, serving clients from 80+ countries. The broker is headquartered in Sydney with an additional entity registered in Saint Vincent and the Grenadines. Its clients span the globe, from India and Malaysia to Europe and the UK. The award-winning broker offers over 13,000 products, including forex, share CFDs, indices, commodities, and cryptocurrencies. Clients of all levels can choose between ECN or DMA pricing with a range of tools at their disposal. FP Markets accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries. Traders can not use FP Markets from United States, Japan, New Zealand, Belgium. MARKET INSTRUMENT There are six main markets available at FP Markets: • Forex – Over 60 currency pairs are available, including majors, minors and exotics • Cryptocurrencies – Trade on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple • Share CFDs – Access over 10,000 shares across four continents • Indices – Access 12 global indices, including the FTSE 100 and NASDAQ • Commodities – Trade on commodity CFDs, including Brent Crude Oil • Precious metals – Trade on gold and silver in spot markets The broker has also introduced a detailed share CFD directory with a dedicated page for each of the stock CFDs offered. This useful resource contains information on the company profile, share price, relevant news and more, informing trading decisions. According to the website, Commodities are made up of energy, metals, and agricultural products; however, there are only 3 listed oil products for the category. ACCOUNT AND LEVERAGE FP Markets offers two account types with STP and ECN execution models accordingly available through MT4 or MT5 platforms. Also, there are three IRESS account types that cover the need of those traders who prefer to use this particular software. Along with some diversification between the proposal, some differences between the pricing model may take place as well, so be sure to check the most suitable one for your need. Let's see Standard Account (MT4/MT5) Minimum Deposit: $100 AUD Leverage: Up to 500:1 Spread: From 1.0 pips Commission: Zero Raw Account (MT4/MT5) Minimum Deposit: $100 AUD Leverage: Up to 500:1 Spread: From 0.0 pips Commission: $6 USD Round turn Standard Account (IRESS) Minimum Deposit: $1,000 Leverage: Up to 1:200 Financing: Base rate + 4.0% Commission: $10 AUD min per lot, then 0.1% Platinum Account (IRESS) Minimum Deposit: $25,000 Leverage: Up to 1:200 Financing: Base rate + 3.5% Commission: $9 min, then $0.09% Premier Account (IRESS) Minimum Deposit: $50,000 Leverage: Up to 1:200 Financing: Base rate + 3.0% Commission: No min, then 0.08% The Standard MT4/MT5 and Raw accounts both support flexible leverage options that go up to 1:500, depending on what instrument is being traded and the amount of funds in the client‘s account. The maximum leverage cap is available on accounts with an equity of less than $10,000. Other limitations are as follows; 1:400 for equity of up to $25,000, 1:300 for equity of up to $50,000, and 1:200 for equity of up to $100,000. Leverage of 1:100 and lower options are not limited based on the account’s equity. TRADER SECURITY First of all the broker is regulated. The MetaTrader platforms are protected with 128-bit Secure Sockets Layer (SSL) encryption, as well as the option to enable two-factor authentication (2FA) at login. All funding and payment options are also secure and comply with industry regulations. TRADE SIZE The minimum trade size is one micro lot. On Forex instruments, the maximum trade size is 50 lots. Otherwise, the maximum trade size will depend on which asset type is being traded. For the Standard and Raw accounts, margin call level is set at 100% and stop out occurs at 50% margin level. Meeting the stop loss level would result in trades being automatically closed by the system, starting with the trade that is incurring the largest loss. Stop out is not an automated process on the Iress system. Instead, the risk management team will reach out to clients if there is an issue with the amount of funds needed to maintain positions within their account. SPREADS AND COMMISSIONS Spreads (Standard + Raw Accounts): Spreads start from 0.0 pips on Raw accounts and are from 1.0 pips on Standard MT4/MT5 accounts. Commissions: Commissions are not charged on Standard MT4/MT5 accounts and are charged at a rate of $6 round turn on Raw accounts. The Standard Iress, Platinum, and Premier accounts are sorted into three sizes; $1-$25,000, $25,000 to $50,000, and $50,000 plus. Commissions correspond to 0.10% with a $10 minimum, 0.09% with a $9 minimum, and 0.08% with no minimum. TRADING PLATFORM AVAILABLE This broker places a lot of importance on the trading platform that is supported for each account type. The Standard and Raw accounts support the well-known MetaTrader 4 and MetaTrader 5 platforms. On the other side of things, the Standard Iress, Platinum, and Premier accounts support the Iress platform. Well start by taking a look at the more well-known, standard MT4 and MT5 platforms. Both offer user-friendly interfaces, one-click trading, live price streaming, Expert Advisors, pending orders and trailing stop orders, a variety of analytical objects, timeframes, charts, and more. MT5 builds on its predecessors features and adds more pending order types, an improved strategy tester for EAs, a built-in economic calendar, and greater flexibility for different trading styles. Both MT4 and MT5 are highly accessible, available through download on PC, Mac, Android, or through Google Play for iPhone/iPad. These platforms can also be accessed through the browser-based WebTrader. DEPOSIT AND WITHDRAWAL This broker offers a variety of funding methods, including: Visa, MasterCard, Domestic or International Bank Wire, Neteller, Skrill, POLI Pay, BPAY, Fasapay, Paytrust88, Ngan Luong, PayPal, and Bank of China Online Pay. Broker to Broker transfer is also supported. The broker separates Visa/MasterCard deposits into two categories, with one being for the MT4/MT5 supported accounts, and the other being for the Iress support accounts. The difference would be that there are no fees charged on deposits for the Standard or Raw MT4/MT5 accounts, but there is a domestic fee of 1.6% and an international fee of 3.18% when funding an Iress supported account through Visa/MasterCard. PayPal charges in the same way, with no fees charged on MT4/MT5 accounts and a 2% fee for Iress accounts. Withdrawals through all methods are processed within one business day. For Domestic and International Bank Wires, the company mentions that the 1 day waiting period is applicable as long as the correct documents are received, otherwise, there could be some delays. If you havent received a Bank Wire within 5 business days, the company will then provide some information to help track that deposit. CUSTOMER SERVICE You can contact FP Markets from Monday – Saturday (AEDT) at 07:00 – 07:00 and Sunday – Friday (GMT) at 22:00 – 22:00. Help is available via: • Email : partners@fpmarkets.com • Contact number : +44 28 2544 7780 • Live chat – available in 12 languages from the bottom right-hand corner of the page User reviews show the support team are reliable and helpful. They can advise on APIs, as well as how to close an account or leave a bad review. Note they cannot give tax advice. FP Markets Pty Ltd is headquartered at Level 5, Exchange House 10 Bridge St Sydney NSW 2000, Australia.