FP Markets Fees and Spreads
FP Markets Fees and Spreads
FP Markets fees spreads and commissions start from $3 per 100,000 lots traded.
FP Markets has a low and incredibly competitive spread when compared to what other brokers offer by offering a spread list that starts from 0.0 pips along with commissions charged from $3.0 when using the Raw MT4/MT5 Account.
FP Markets trading fees are according to the type of account that the trader chooses and the options along with the spread list, leverage, minimum deposit required, and commissions are as follows:
- Standard MT4/MT5 Account – minimum deposit of AUD$100 or currency equivalent, leverage up to 1:500, zero commissions charged per trade.
- Raw MT4/MT5 Account – minimum deposit of AUD$100 or currency equivalent up to 1:500, US$3.00 commissions charged per 100,000 lots traded.
Commissions charged will in addition also depend on the financial instrument that is being trader as Equity CFD commissions are determined by the country and traders are charged commissions per side.
The minimum deposit that FP Markets requires to open an account is AU$100 or currency equivalent which is the average minimum deposit when compared to other brokers.
Traders should note that certain financial instruments can only be traded during a certain time of the day, especially when considering different time zones, and additional fees may be charged should they hold these positions after they have closed.
Traders should always note that Overnight fees, otherwise known as swap fees or rollover fees, may be charged for positions held open for longer than a day.
FP Markets has swap rates that are indicated, and which are determined by the day of trading and the financial instrument which is being traded.
FP Markets offers the option of an Islamic account to traders who are of Muslim faith and who operate under the Sharia Law, but there are additional administration charges involved.
Islamic Accounts are not charged with the administration fees within the first five nights during trading activities, the fee will only be charged from the sixth night should positions be held open for longer than five days.
FP Markets does not offer traders with spread betting and therefore spread betting fees are not applicable to this broker.
FP Markets charges deposit fees amounting to AU$10 when using international bank wire in any currency other than AUD and AU$25 should the trader use the option to deposit from broker to broker and it is an international transaction.
Withdrawal fees are charged depending on the payment method the trader chooses and can be viewed as follows:
- International Bank Wire – in a currency other than AUD the fee is AU$10.
- Neteller – 2% and a maximum of US$30.
- Skrill – 1% along with country fees if and where applicable.
- Broker to broker – AU$25 should it be an international transaction.
FP Markets does not waive any additional broker fees such as inactivity fees or fees pertaining to account maintenance and management except in the case of Islamic accounts which are charged an administration fee for positions help open longer than five days.
Traders are advised to ensure that there are no fees waived by their payment provider in terms of depositing funds from their bank account to their trading account in addition to transaction costs when withdrawing funds and having it transferred to their bank account.
Pros and Cons
|1. Tight and competitive spreads||1. Administrative fee with the Islamic account for positions held open longer than five days|
|2. Low minimum initial deposit amount|
|3. Fixed commissions on trades|
|4. Low commissions when compared to other brokers|
How many instruments can I trade with FP Markets?
You can only trade the following financial instruments with FP Markets:
- More than 50 Forex pairs
Which platforms are supported by FP Markets?
FP Markets provides the following popular trading platforms:
- MetaTrader 4
- MetaTrader 5
Does FP Markets offer leverage?
FP Markets offers a maximum leverage of up to 1:500.
What spreads can I expect with FP Markets?
Spreads from as little as 0.0 pips.
Does FP Markets charge commission?
Commissions are charged from $3 per 100,000 lots traded when using a Raw MT4/MT5 account.
Is FP Markets regulated?
Yes, FP Markets is regulated by the highly reputed CySEC in Cyprus, and the ASIC in Australia.
Is FP Markets a recommended forex trading broker for experts and beginners?
Yes, FP Markets provides the ideal trading environment for both beginner and expert traders.
What is the overall rating out of 10 for FP Markets?
July 3, 2020
June 26, 2020