FP Markets Review

First Prudential (FP) is a CFD and forex broker with a lot of longevity in the industry. You can access more than 10,000 CFD products and raw, tight spreads that start at 0.0 pips. The broker has raw pricing that it streams directly from its top tier liquidity providers, and clients can benefit from a large liquidity pool of regulated financial institutions. At FP Markets, there is a diverse mix of liquidity and aggressively competitive pricing.

Another excellent feature of this broker is its use of the MetaTrader 4 and 5 platforms, as well as the cTrader platform. It also uses Iress (for which it offers three accounts) and WebTrader. There is a mobile app for Android and iPhone users. With these platforms, you get an advanced portal that lets you track trading in real-time, among other trader-tested features. FP Markets also offers VPS solutions for auto-traders, EAs, and scalpers. There are few restrictions with this broker, and you’ll find that the system is designed to let you use whatever trading strategy you want.

FP Markets Pros & Cons

Pros

  • Low Forex Fees
  • MetaTrader 4 And 5 Offered
  • Easy, Fast Account Opening
  • Quick Deposits And Withdrawals
  • Wide Range Of Account Types

Cons

  • High Stock CFD Fees
  • High Minimum Deposit For Some Accounts

FP Markets might be a little overwhelming for traders who are completely new to the world of trading. But, for those with a little experience (or more), this broker is an excellent choice. The wide range of platforms and account types, as well as the educational resources and trader-centric tools, all indicate that FP works with traders of all experience levels.

Best FP Markets Features

  • Raw Spreads from 0.0 Pips. First Prudential Markets offers some of the industry’s tightest spreads. With this broker, you can trade from 0.0 pips on major currency pairs. Commission-wise, forex traders will pay $6 per lot per round turn, while those trading shares will pay 0.1% (AUD$10 minimum). 
  • No Manipulation. At FP Markets, there is no price manipulation, no requotes, and no dealing desk. You can access institutional-grade liquidity without any manipulation. 
  • Award-Winning Execution. FP Markets uses an Equinix NY4 facility server cluster, which provides low-latency execution, meaning that the server can process a high volume of trades with minimal delay.
  • No Restrictions. There are few restrictions on your trading strategy at First Prudential. Scalping, Hedging, EAs and any other trading strategy is allowed. The conditions for EAs and scalping are ideal, as there is no minimum distance between the spread. 
  • Excellent Customer Support. At FP Markets, the customer support is multi-lingual and responsive.

FP Markets Overview

  • Type of Broker—- Forex/CFD Broker
  • Regulations—- Cyprus Securities and Exchange Commission (Cyprus), Australian Securities and Investments Commission (Australia), Financial Services Authority (Saint Vincent and the Grenadines),FP Markets (Pty) Ltd is now a Financial Services Provider authorised and regulated by the Financial Sector Conduct Authority in South Africa (FSP Number 50926).1. FSP Name FP Markets (Pty) Ltd2. FSP number 50926
  • Clients Accepted from—- 93 Countries
  • Assets OfferedForeign Exchange (FX), Commodities, Indices, Shares/Stocks, Bonds, Futures/Forwards, CFDs, Cryptocurrency, ETFs.
  • Platforms Available—- Web, Mobile, Download
  • Mobile Compatibility—- iOS, Android
  • Payment Types Accepted—- Credit/Debit Card, Bank Wire Transfer, PayPal, Skrill, Neteller, SticPay, PerfectMoney, DragonPay, Rupee, Pagsmile, Rapyd, Rapid, XPay, Finrax, LetKnowPay, LuqaPay, PayRetailers, ApplePay, GooglePay, VirtualPay, PayTrust, FasaPay.

FP Markets Reliability & Security

In addition to the various trader features listed above, another high point of FP Markets is its reliability. It uses several well-liked, highly-rated platforms, including MetaTrader 4, MetaTrader 5, WebTrader, and Iress. Each provides a smooth, glitch-free, low-latency trade experience. FP Markets also allows its clients to use cTrader.

cTrader

cTrader is a fast and efficient multi-asset Forex and CFD trading platform, boasting advanced charting, advanced order types, level II pricing, powerful trading tools and superior execution. The cTrader trading platform permits both hedging and netting capabilities. Available on both live and demo trading accounts, cTrader is supported on the FP Markets’ Standard and Raw trading accounts.

MetaTrader

In addition to its mobile app for iOS and Android, traders who want a downloadable platform can choose from the industry-standard MetaTrader suite. MetaTrader 4 is the most ubiquitous, though MetaTrader 5 is available at FP with WebTrader. The MT4 suite includes features like a customizable interface, MarketWatch, one-click trading, live price streaming, EAs (Expert Advisors), customizable alerts, and more. MT5 has all the functionality of MT4, with just a few extra bells and whistles.

WebTrader

WebTrader is also available with this broker. With this platform, you can trade from the Internet browser of your choice, with no need to download extra software. Features of WebTrader include raw pricing, no requotes, a complete trading tool suite, real-time price quotes, synchronization across platforms, and more.

Iress

The Iress platform might not have the popularity of the MetaTrader suite, but it is still a solid choice, with over 500,000 users worldwide. Iress is a comprehensive trader platform that offers features like module linking, improved browser alerts, an intuitive interface, real-time price streaming, the ability to manage multiple portfolios, and more. For those who want a platform that’s not MT4 or MT5, Iress is worth a shot.

FP Markets User Experience

FP Markets has longevity in the industry and a long track record, but what do starred reviews say? The ratings of this broker have generally been positive, with several listed below: 

  • TrustPilot: 4.8/5.
  • 55Brokers: 5/5.
  • ForexBrokers: 4/5.
  • Forex-Ratings: 5/5.
  • FXEmpire: 4.8/5. 
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