FP Markets: What Do Consumers Say about it?

Since the forex market is almost overly populated with good and bad brokers, selecting the best one can be hectic. However, things become relatively easy when indicators help you assess whether a broker is worth your investment, and client feedback is one of the most significant. Today we review FP Markets, besides looking in depth at what clients think of the company.

FP Markets - An Overview

Founded in 2005, FP Markets is a forex and CFD broker headquartered in Australia. The company offers a wide range of tradable instruments across multiple asset classes, including forex, shares, indices, commodities, and cryptocurrencies. With its ASIC and CySEC regulations, the company claims to adhere to strict regulatory requirements, maintaining sufficient capital funding and segregating client funds in separate bank accounts.

Clients can sign up with the company for Standard, Raw Spread, Iress, and Islamic accounts. While the company has a competitive pricing structure, it offers diverse trading platforms to suit clients' trading needs. The web trading platform provides a user-friendly interface and features like one-click trading, order placement, chart annotations, and more. For a more advanced trading experience, clients can opt for the downloadable MetaTrader 4 (MT4) desktop platform, equipped with numerous technical indicators, algorithmic trading capabilities, and price alerts. However, it's worth noting that the Iress Platform, available to Australian clients, is more focused on CFD trading and lacks comprehensive news coverage for major forex pairs. 

FP Markets supports multiple payment options, making it easy for clients to deposit and withdraw their funds conveniently. The minimum deposit required to come on board is $100, with no associated transaction fee. Additional services available at FP Markets include PAMM/MAM accounts, trading tools, and VPS. The company also supports social trading, enabling clients to replicate the trades of seasoned professionals into their accounts and start earning right from day one. The broker also offers many educational resources, including educational videos, eBooks, trading glossary, and webinars. Concerning the availability of customer support, the broker is accessible six days a week. Clients can contact the company via telephone, email, and live chat.

User Reviews

After a comprehensive review of the FP Markets, we share the public's honest opinion about the FP Markets.

Users hold both positive and negative opinions about FP Markets. People praise the broker's reliability, lower spreads, and instant trade execution. Many users appreciate the company's robust regulatory framework, believing it to be a secure platform. Some clients also acknowledged that the broker's long-standing presence in the market is a testament to its credibility. Clients also highlighted the broker's excellent customer service and support, with quick responses to queries through emails and live chats. The company was also favored on account of providing traders with the knowledge and skills required to become seasoned professionals.

Concerning payments, traders appreciate the efficiency and accuracy of their dealings and the swift withdrawal and payment processes it offers. While expressing his views about the company, a client named AidenPierce10 stated that he has been using the company for quite some time and hasn't faced any issues regarding deposits or withdrawals.

Another member Kovats123 quoted the firm as being ideal for scalpers. According to him, the company offers competitive spreads and employs low commissions, allowing scalpers to take full advantage of the small market moves. 

Similarly, another user Thatguyontheasx referred to FP Markets as an excellent choice for day trading. Further, FP Markets' commission-free trading and high-leverage options are highlighted as significant benefits, making it a preferred choice for some traders. The brokerage's involvement in ensuring the professional and smooth handling of clients' funds is also positively noted.

While exploring more reviews about the broker, we came across a group of people appreciating the broker for providing flexible trading platforms.

The company's customer service is also highly regarded, with several users commending individual representatives for their excellent support. 

On the other hand, there are negative reviews from users who claim to have encountered problems with FP Markets. Some have faced delays in receiving their withdrawals, with one user mentioning a three-week delay. Others complain about experiencing slippages and blocking of accounts, citing issues with the change in regulation and accusations of "abusive trading." Some users accuse FP Markets of not providing sufficient evidence to support their actions and question the broker's transparency. Concerns about counterparty practices are also raised, with users expressing doubt about the broker's execution model and potential conflicts of interest.

One common concern among the clients is the conditional provision of a free VPS, only offered to traders who meet specific criteria. Some users find this limitation a disadvantage, especially if they were expecting a free VPS unconditionally. However, this is a minor issue compared to users' overall positive experience with the broker.

A user claimed the broker blocked his account and withheld his investments without any solid reason. After several attempts to contact the broker and receiving no resolution, he felt ignored and frustrated. Another user mentioned difficulties completing a rebate, which could also be a minor issue but was inconvenient for him.

Bottom Line

FP Markets receives generally positive reviews from users. Clients appreciate the company's reliability, competitive trading conditions, and customer support. The broker's range of tradable instruments and diverse account options also garners praise. However, some users have expressed concerns about conditional provisions and withdrawal delays. Overall, FP Markets seems to be a reliable and well-regarded broker, but potential clients need to conduct thorough research in addition to considering these mixed reviews before making an investment decision.