FP Markets Review – Discover this broker with 30 questions solved

In this article, we will address some common questions that traders often have about FP Markets and their services. These questions cover various aspects of the broker, including regulation, fees, trading platforms, and more.

1. Is FP Markets a regulated broker, and is it safe to trade with them?

FP Markets is a regulated broker, which enhances the safety of your funds. It is regulated by ASIC, CySEC, and the FSCA, providing a secure trading environment for clients.

2. What trading platforms does FP Markets offer?

FP Markets offers a range of trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, a proprietary platform, and a web-based platform. These platforms cater to various trading styles and preferences.

3. Can I trade cryptocurrencies with FP Markets?

Yes, FP Markets offers cryptocurrency trading. You can trade 11 cryptocurrency pairs, allowing you to participate in the growing cryptocurrency market.

4. What is the minimum deposit required to open an account with FP Markets?

The minimum deposit to open an account with FP Markets is $100. This relatively low minimum deposit makes it accessible to a wide range of traders.

5. Are there any fees associated with trading at FP Markets?

Trading fees at FP Markets depend on the type of account you choose. They offer both commission-free standard accounts and commission-based raw accounts with competitive spreads. Additionally, there are no inactivity fees.

6. Does FP Markets offer social trading or copy trading services?

Yes, FP Markets provides social trading and copy trading services. They offer the MT4 Myfxbook service for copy trading, as well as their in-house social trading service, catering to traders who want to follow the strategies of experienced investors.

7. What is the leverage offered by FP Markets?

FP Markets offers leverage of up to 1:500 for Forex traders. However, the maximum leverage may vary depending on your location due to regulatory restrictions.

8. Is negative balance protection available at FP Markets?

Yes, FP Markets provides negative balance protection, ensuring that your account balance cannot go below zero. This feature is especially important for traders using high leverage.

9. How can I contact FP Markets’ customer support?

You can reach FP Markets’ customer support 24/7 through various channels, including email, live chat, and phone support. They also offer a call-back option for added convenience.

10. Are there any bonuses or promotions available for FP Markets clients?

As of the time of this review, FP Markets does not offer bonuses or special promotions. They focus on providing a competitive and transparent trading environment.

11. Can I access educational resources at FP Markets?

Yes, FP Markets offers a range of educational resources, including daily research, trading recommendations, streaming news, live webinars, podcasts, trading guides, and an Academy for traders. These resources can help traders enhance their skills and knowledge.

12. What is the trading asset selection like at FP Markets?

FP Markets offers a diverse selection of trading assets, including 70+ currency pairs, cryptocurrencies, commodities, metals, index CFDs, equity CFDs, ETFs, and bonds. This variety allows traders to diversify their portfolios.

13. How do I access trading hours for different asset classes at FP Markets?

You can easily access trading hours for different asset classes by right-clicking on the desired symbol in the Market Watch window of the trading platform and selecting the “Specification” option.

14. Does FP Markets offer managed accounts?

FP Markets does not offer managed accounts; however, they provide a range of tools and services to help traders manage their accounts effectively, including social trading and copy trading options.

15. What is the maximum leverage for traders in the European Union (EU) at FP Markets?

For traders located in the EU, FP Markets limits the maximum leverage to 1:30 in compliance with regulatory requirements.

16. What is the best account type for minimizing trading costs at FP Markets?

For traders looking to minimize trading costs, the Raw Account with commission-based pricing often offers lower overall costs compared to the commission-free Standard Account, especially for frequent traders.

17. Are there any additional fees for using the Iress trading platform at FP Markets?

While the Iress trading platform is available for certain clients, it may be subject to non-trading-related fees unless traders meet monthly trading volume requirements. Make sure to check the specific terms and conditions.

18. Does FP Markets offer Islamic (swap-free) accounts?

FP Markets does not explicitly mention Islamic accounts in the provided information. If you require an Islamic account, it is recommended to contact their customer support for further details.

19. How can I access swap rates for my trades at FP Markets?

To access swap rates for your trades, you can do so directly from your MT4/MT5 trading platform by following specific steps provided by FP Markets.

20. What is the mechanism for depositing and withdrawing funds at FP Markets?

FP Markets offers various deposit and withdrawal methods, including bank wires, credit/debit cards, online payment processors, and cryptocurrencies. The availability of these methods may depend on your location.

21. Is FP Markets suitable for algorithmic or automated trading?

Yes, FP Markets is suitable for algorithmic and automated trading. They offer MetaTrader 4 (MT4), which is a popular platform for automated trading through Expert Advisors (EAs).

22. How user-friendly are the mobile trading apps provided by FP Markets?

FP Markets provides mobile trading apps for various platforms, and they are optimized for mobile use. While they are user-friendly and suitable for portfolio management, they may not support complex trade analysis due to screen size limitations.

23. Can I access advanced charting tools on FP Markets’ mobile apps?

While the FP Markets Trading App offers basic charting tools, the MT4, MT5, and cTrader mobile apps provide advanced charting capabilities similar to their desktop counterparts.

24. Does FP Markets provide live webinars for traders?

Yes, FP Markets offers live webinars as part of their educational resources. These webinars cover various topics to help traders improve their skills and knowledge.

25. Is FP Markets available in multiple languages?

Yes, FP Markets provides customer support in multiple languages, making it accessible to traders from various regions.

26. Does FP Markets offer guaranteed stop loss orders?

FP Markets does not mention guaranteed stop loss orders in the provided information. It is advisable to inquire directly with the broker about this feature if it is essential to your trading strategy.

27. What is the typical response time for customer support at FP Markets?

FP Markets offers 24/7 customer support, ensuring that you can reach out to them at any time. Response times may vary but are generally prompt.

28. How can I access trading hours for different asset classes at FP Markets?

You can easily access trading hours for different asset classes by right-clicking on the desired symbol in the Market Watch window of the trading platform and selecting the “Specification” option.

29. Does FP Markets provide any additional tools or services for traders?

FP Markets offers various additional tools and services, such as VPS hosting, the MT4 Myfxbook service, and the MT4 MAM/PAMM module for retail account management, in addition to social and copy trading services.

30. Can I use FP Markets if I reside in the United States?

FP Markets does not specify whether US residents are accepted. It is advisable to contact their customer support to confirm the eligibility of US residents to open accounts.

These frequently asked questions provide a comprehensive overview of the key aspects of FP Markets, enabling traders to make informed decisions when considering this broker for their trading needs.