First Prudential Markets Ltd – trading as fpmarkets – is an Australian-based forex and CFDs broker that was founded in 2005. The global forex broker offers five trading accounts to trade forex, shares, metals, commodities and indices on the MetaTrader 4 and MetaTrader 5 trading platforms. fpmarkets is a registered company in St. Vincent & the Grenadines and is licensed and regulated by the ASIC in Australia and CySEC in Cyprus. fpmarkets is regulatory compliant and safe to use by forex brokers in Africa.

Overall Rating

4.7/5

Rated #23 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

ASIC, CySEC

📱 Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

📈 Total Pairs

60

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

Is fpmarkets regulated?

Yes, fpmarkets is licensed and regulated by two top-tier authorities; the ASIC in Australia and CySEC in Cyprus. fpmarkets is the brand name of First Prudential Markets Ltd in Australia and Europe and is a registered company in St. Vincent & the Grenadines.

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ASIC: Australian Securities and Investments Commission

fpmarkets is licensed and regulated by the Australian Securities and Investments Commission (ASIC). The ASIC is a self-governing commission of the Australian government. The regulatory authority is mandated as the national corporate regulator of the financial sector in Australia to standardise company and financial services and apply laws to safeguard traders, investors and banking customers in Australia.

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In Europe, fpmarkets is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). CySEC is an autonomous regulatory authority in Cyprus responsible for monitoring and directing fair practice in the investment services market, and transactions in convertible security transactions in the Republic of Cyprus and the mutual investment and asset management sector.

Is fpmarkets regulated in South Africa?

No, fpmarkets is not regulated in South Africa by the Financial Sector Conduct Authority (FSCA).

Is fpmarkets legit?

Yes, fpmarkets is a legitimate forex and CFDs broker and electronic trading platform. The forex broker was established in 2005 and is licensed under First Prudential Markets in Australia and Europe. fpmarkets is well-established and has a good reputation. The broker is regulatory compliant and safe to use by forex traders in Africa.

Overall Rating

4.7/5

Rated #23 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

ASIC, CySEC

📱 Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

📈 Total Pairs

60

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

What type of broker is fpmarkets?

fpmarkets is a hybrid No Dealer Desk (NDD) and Direct Market Access (DMA) broker and offers STP and ECN accounts.

As an NDD broker, fpmarkets provides an electronic trading platform that allows clients to trade directly with market participants using the interbank rates. An NDD broker guarantees traders that there is no conflict of interest with their trades. fpmarkets makes money on the spreads and charges a small commission for certain services.

Is fpmarkets a good broker?

In terms of security, state-of-the-art trading platforms, research and education, fpmarkets is rated highly as a trusted retail broker and is regarded as a safe and reliable broker for forex traders in Africa.

fpmarkets security

fpmarkets is regulatory compliant and regarded as safe to use by forex traders in Africa. fpmarkets follows strict regulatory guidelines for trader and investor protection and has implemented industry protocol to secure your money and information.

Regulated broker

fpmarkets is licensed and regulated by the ASIC in Australia and the CySEC in Europe.

Segregated accounts

fpmarkets keeps client funds in a separate account which a leading bank holds. Clients’ funds cannot be accessed to pay for company expenses and liabilities.

Negative Balance Protection

fpmarkets provides Negative Balance Protection for its clients. fpmarkets will automatically top up the balance to 0, and clients don’t pay anything if market volatility prevents them from keeping a positive balance on their trading account.

Two-step authentication

fpmarkets requires two-step authentication to enhance your trading platform’s security and protect your deposits and personal information from hackers using SMS and backup codes.

Know Your Customer (KYC) checks

fpmarkets is required by law to collect and verify certain personal information and execute Know Your Customer (KYC) checks.

fpmarkets trading platforms

fpmarkets offers a choice of three forex trading platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5) and Iress. The trading platforms are available as mobile apps.

MetaTrader 4

MetaTrader is a pioneer electronic trading platform developed by MetaQuotes Software. Since 2002, MetaQuotes Software has released several software applications for trading, but the company hit the jackpot with MT4. MT4 is the most popular and widely-used electronic trading platform for retail foreign exchange (forex) speculative traders.

MetaTrader 5

MetaTrader 5 (MT5) was developed by MetaQuotes Software Corporation and launched in June 2010. MT5 is not a new and improved version of MT4. It was created to broaden MetaTrader’s functionality from a single-market trading platform to a multi-market platform, offering traders an advanced trading platform and excellent tools to trade a broader range of financial instruments.

Iress Trader is a web-based DMA software application that provides Direct Market Access pricing on a streamlined trading platform. Iress Trader facilitates access to market data across various product types and exchanges, comprehensive market depth, and sophisticated charting with live market analytics.

fpmarkets research and education

fpmarkets publish an impressive array of market analytics and educational material for beginner and advanced forex traders.

Market analytics Trading Knowledge

Technical analysis

Fundamental analysis

Economic Calendar

Forex calculator

Forex education Forex trading course

Video tutorials

Webinars

Podcasts

Events

eBooks

Newsletter

FAQs

What products does fpmarkets offer?

fpmarkets is a multi-asset forex and CFDs broker. Clients use MetaTrader 4 (MT4), MetaTrader 5 (MT5), or the Iress trading platform to directly access the global financial markets. Clients trade currency pairs and CFDs on shares, metals, cryptocurrencies, commodities and indices.

Forex Up to 60 major currency pairs
Shares CFDs on over 100 000 shares, including Amazon, Apple, Facebook, Tesla, Netflix etc.
Metals CFDs on precious metals including gold, silver, platinum and palladium
Commodities CFDs on hard and soft commodities, including brent crude oil, natural gas, iron ore, coffee, cocoa, soyabeans etc.
Indices CFDs on the leading indexes, including US100, Dow Jones, S&P500 etc.
Cryptocurrencies CFDs on the most popular cryptocurrencies including Bitcoin, Ethereum, XRP (Ripple), Bitcoin Cash, and Litecoin

Does fpmarkets offer social/copy trading?

Yes, fpmarkets offers a copy trading platform called FP Markets Copy Trading. The copy platform allows you to find, follow and copy successful traders automatically.

Does fpmarkets have Nasdaq?

Yes, fpmarkets offers NASDAQ-100 (US100). US100 is traded as a CFD on the MT4, MT5 or the Iress platform. The US100 assigns a capitalisation-weighted index containing 100 of the largest publicly traded non-financial businesses on the Nasdaq composite index. The US100 is one of the most significant large-cap growth indexes in the world.

What awards has fpmarkets received recently?

fpmarkets won ‘Best Global Forex Value Broker’ at the Global Forex Awards in 2019 and 2020. The Global Forex Awards recognises excellence in the international financial industry in state-of-the-art electronic trading technology, low-cost trading and customer service.

Overall Rating

4.7/5

Rated #23 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

ASIC, CySEC

📱 Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

📈 Total Pairs

60

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

How to trade forex with fpmarkets

Traders and investors cannot directly access the global forex market. They must trade through a trading platform hosted by a regulated forex and CFDs broker.

To start trading the financial markets with fpmarkets, you need to register an account, choose a trading platform, select an account base currency and a leverage value. Once you’ve decided how and what you will trade, you can open an account that suits your trading strategy.

After signing up with fpmarkets, you will receive your login credentials via email. By law, fpmarkets is required to verify your account. Deposit funds into your trading account and start trading.

How to open a forex trading account with fpmarkets

To open a live forex trading account with fpmarkets, follow the simple steps below:

  1. Open the official website for fpmarkets
  2. Select OPEN LIVE
  3. Provide personal information required for your account to be validated
  4. Select a trading platform; MT5, MT4, Iress
  5. Select a base currency
  6. Deposit funds
  7. Start trading with fpmarkets when your account has been verified and opened

What types of accounts does fpmarkets offer?

fpmarkets offers two types of live trading accounts on the MT4 and MT5 trading platforms:

Standard Minimum deposit

Spread

Commissions

Leverage

$100 AUD or equivalent

From 1.0 pips

Zero

30:1

Raw Minimum deposit

Spread

Commissions

Leverage

$100 AUD or equivalent

From 0.0 pips

$3 USD per lot

30:1

fpmarkets offers three types of live trading accounts on the Iress trading platform:

Standard Minimum deposit

Commission (ASX)

Equity CFD margin rates

$ 1 000 AUD or equivalent

$10 AUD min, then 0.1%

From 3%

Platinum Minimum deposit

Commission (ASX)

Equity CFD margin rates

$ 25 000 AUD or equivalent

$9 AUD min, then 0.09%

From 3%

Premier Minimum deposit

Commission (ASX)

Equity CFD margin rates

$ 50 000 AUD or equivalent

No min, then 0.08%

From 3%

Does fpmarkets offer a free demo account?

Yes, fpmarkets offers a free demo account on the MetaTrader 4 and MetaTrader 5 trading platforms.

Clients can register and sign up for a free demo account which is instantly available to start trading virtual (fake) money. You can trade forex in real-time under real market conditions but with zero risks of losing real money. Once beginner traders have spent time learning how to trade on a free demo account, they are ready to open a live trading account.

Does fpmarkets offer an Islamic account?

Yes, fpmarkets offers an Islamic swap-free live account to clients of the Muslim faith, under Shariah Law.

Deposits and withdrawals

How to deposit money into a fpmarkets trading account

You can deposit funds into a fpmarkets trading account in multiple ways:

Online deposit methods are instant; bank transfers may take several working days.

fpmarkets does not accept third-party. All funds deposited into a fpmarkets trading account must have the same name as the trading account.

Does fpmarkets charge a deposit fee?

No, fpmarkets does not charge a deposit fee. fpmarkets covers international banking fees for deposits larger than $100 000 USD.

How to withdraw money from a fpmarkets account

You withdraw deposit funds from your trading account with the same payment system you used to deposit funds into your account. Go to your Client Area and follow the easy steps to withdraw your funds. When you have withdrawn deposit funds, you can use an alternative method to withdraw profits.

How many days do fpmarkets withdrawals take?

Funds are transferred to you as soon the Withdrawal request is processed by the fpmarkets Secure Client Portal. The length of time it takes to reflect in your bank account depends on the method of withdrawal. On average, fpmarkets processes withdrawal requests in one business day.

What does fpmarkets charge to withdrawal funds?

fpmarkets does not charge a fee for credit and debit cards or domestic wire transfers.

$5 AUD is charged for international wire transfers, and a 2% fee is levied for payment gateways or virtual wallets such as Neteller, Skrill and PayPal.

Commission and spreads

What trading fees does fpmarkets charge?

fpmarkets’ fees depend on the type of account you choose.

Financial instrument Standard account Raw account
Currency pairs Zero, built into the spread $3.50 AUD per transaction
Precious metals Zero, built into the spread $3.50 AUD per transaction
Commodities Zero, built into the spread Zero, built into the spread
Indices Zero, built into the spread Zero, built into the spread
Cryptocurrency Zero, built into the spread Zero, built into the spread

What is the minimum deposit for a fpmarkets live trading account?

MT4 and MT5 trading platform

Standard account $100 AUD or equivalent
Raw account $100 AUD or equivalent

Iress trading platform

Standard Iress account $1 000 AUD or equivalent
Platinum Iress account $25 000 AUD or equivalent
Premier Iress account $50 000 AUD or equivalent

Overall Rating

4.7/5

Rated #23 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

ASIC, CySEC

📱 Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

📈 Total Pairs

60

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

FAQs: fpmarkets

Does fpmarkets have a Welcome Bonus?

Yes, fpmarkets offers new MT4 traders a Welcome Bonus in the form of a Cash Bonus. The promotion is only available at certain times of the year. It is offered to new clients who pass all compliance requirements to open a live trading account.

Can I start trading with no money in my live fpmarkets account?

No, you cannot start trading forex if you have not deposited the required minimum deposit for your fpmarkets trading account. You can only trade with no initial deposit on a free demo account. A demo account allows you to trade forex with ‘fake’ money, but you don’t profit from any trades.

What leverage does fpmarkets offer?

fpmarkets offers maximum leverage up to 30:1 on the Standard and Raw trading accounts on the MT4 and MT5 platforms.

Where is fpmarkets’ headquarters based?

fpmarkets headquarters are based at Level 5, Exchange House, 10 Bridge Street, Sydney NSW 2000, Australia.

Who is the CEO of fpmarkets?

The founder and CEO of fpmarkets is Matthew Murphie.

Does fpmarkets offer online support?

Yes, fpmarkets offers multi-lingual online Customer Support, available 24/7 via Live Chat on their website. You can also contact fpmarkets Customer Services via email or telephone.

Does fpmarkets offer a demo account for forex traders?

Yes, fpmarkets offers a free demo account for beginner forex traders. A demo trading account is funded with virtual money but provides all the features of a live account. It’s the perfect account for beginner forex traders to improve their trading skills before moving onto a live forex account.

Does fpmarkets have a mobile app for forex trading?

Yes, fpmarkets offers an easy-to-use mobile app for MetaTrader 4, MetaTrader 5 and the Iress platform.

Does fpmarkets publish an Economic Calendar?

Yes, fpmarkets publishes an Economic Calendar.

Who can I speak to at fpmarkets for help?

fpmarkets provides dedicated Customer Service supported by Live Chat, email or telephone.

Live Chat fpmarkets

Contact number +44 28 2544 7780

Email [email protected]

FOREX TRADING AFRICA DISCLAIMER

Forex and CFDs are complex instruments, and trading these instruments come with a high-risk warning. Trading forex and CFDs involves a high risk of losing money rapidly due to leverage and margin. You need to understand how forex trading works and decide whether you can afford to take the risk of losing money on trade orders that do not go your way.

Forex Trading Africa annually reviews brokers and financial instruments and provides information to help traders and investors make better decisions when trading on global markets. The information is published to help improve your knowledge and understanding of international multi-asset trading and market participants.

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