FP Markets Review

Founded in 1995 and based in Australia, FP Markets (also known as First Prudential Markets) has established itself as one of the leading CFD brokers in the Oceana region. Having a client list that runs into the thousands, meaning that they are no strangers to the market and bring a worldwide infrastructure to the table. They utilise a direct market model to ensure a safe, spirited and altogether fair trading for customers. Solidifying their reputation as a trading platform is not only the prestigious status that they earned from ASIC, but also the following market awards.

·         Stockies Award 2010 – The Bull

·         Cheapest Non-Advisory Phone Broker – Money Magazine

Trading Platforms

FP Markets utilises a single trading platform that is versatile in approach. webIRESS has gained its plaudits for its flexibility, offering a variety of different order types, up to the minute news feeds and international and regional data feeds. This is all on top of a reputable level of market depth, charting facilities and stop loss functions.

For those who like to trade on the go, webIRESS is also available via a web browser. Meaning that you don’t need to be at the office to trade, as any Internet accessible device (including iPhone and iPad) will also you to have access to the market.

Account Types

Along with a standardised demo account, FP Markets offer four different types of CFD trading account. Each of which can be tailored to a clients specific needs, along with being easily accessible online.

·         Preparation Account – Specifically created for those new to CFD trading. It provides clients with an educational platform to operate within, along with the option of lower leverage levels in order to limit the amount of risk involved.

·         Professional Account – FP Markets Professional Account provides customers with access to competitive DMA commission and margins, within an account that is designed to further a trader’s success.

·         Platinum Account – Stepping up from Professional, FP Markets Platinum Account offers low commission and financing rates. Such a feature makes it an account to be considered by those looking to step up their CFD trading efforts.

·         Premier Account – For the higher echelon of CFD traders only, comes with no minimum brokerage fees and no platform fees. However, the deposit for such is obviously far higher than FP Markets other account offerings.

Spreads and Commissions

FP Markets have a minimum stock commission of 0.10%, while their commission for Australian share CFDs has a $10 minimum charge. While their initial deposit requirement varies from account to account, but ranges from $1,000 to $50,000 in most instances. Such puts their fees in line with many other Australian based CFD brokerage firms.

Pros

FP Markets provide a reliable and reputable trading experience by using the best technology that is currently available. Clients can expect to find competitive fees within a company that you can depend, making FP Markets CFD trading platform one to consider.

Cons

There is a distinct lack of sign-up offers to entice customers, while the varied levels of accounts could be daunting for those new to CFD trading.

Spreadbetting, CFD trading and Forex are leveraged. This means they can result in losses exceeding your original deposit. Ensure you understand the risks, seek independent financial advice if necessary. The value of shares and the income from them may go down as well as up. Nothing on this website constitutes a solicitation or recommendation to enter into any security or investment.