FP Markets Review
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upamfva Riggedy-riggedy-rekt Warlock   Posts: 1,116 Joined: Jun 2021 Reputation: 0 |
09 Sep 2022, 05:31
FP Markets is an established and regulated broker that offers a great selection of 10,000+ financial instruments for you to trade across multiple global markets including Forex, Stocks, Cryptos & CFDs. They are an award-winning broker who provide reliable and industry leading trading conditions including powerful and sophisticated platforms with transparent pricing, tight spreads, fast execution speeds and very competitive trading costs. I would consider them one of the best brokers if you are a day trader who wants to trade forex, cryptos and stocks, in a regulated environment with a trusted broker. I have been with them for a few years now and never had any issues.To get more news about fp markets pros & cons, you can visit wikifx.com official website.
Summary Established in 2005, FP Markets can offer you award-winning ECN trading conditions with direct market access pricing, tight spreads from 0 pips and flexible leverage up to 1:500. They have a huge number of products for you to trade with over 10,000 global instruments including Forex Currency Pairs, Commodities, Cryptocurrencies, Stocks, Shares, Indices, Metals, Equities, Energies, CFDs & ETFs. If you are impressed by this product range, IG have over 17,000 in comparison. FP Markets (First Prudential Markets Pty. Ltd.) have a no requote policy and are under strict ASIC and CySEC regulation with their head office located in Sydney, Australia. This gives me confidence that they are a company who we can trust. There is a selection of powerful trading platforms to choose from, MT4, MT5 & IRESS. You have the convenience of being able to trade all markets and instruments from one account. I like this as it means I can switch seamlessly between platforms and manage my account from my laptop and mobile. Trading Conditions Focused on understanding what traders need, FP Markets mission is to provide the ultimate trading experience to all types of traders, regardless of your investment size or prior experience. They incorporate the latest technologies to ensure ECN pricing in all market conditions. This means that anyone can get access to industry leading trading conditions, on par with competitors such as IC Markets and Pepperstone. Liquidity providers (LP’s) include huge global names Barclays, HSBC, RBS, Credit Suisse, J.P. Morgan, Goldman Sachs, Commerzbank, Standard Chartered, Citibank and BNP Paribas. More liquidity means that you can get your trades executed at better prices as all of the LP prices are pooled together. This is better than using a market maker who sets their own prices. They have won numerous awards for fast execution speeds, client satisfaction and customer support. Awards include Best Global Forex Value Broker Award, Outstanding Value CFD Provider, Best Customer Service, Best Trade Execution, Most Satisfied Traders, Best Education Material, etc. Multilingual support is available 24 hours a day, 7 days a week. Each client is provided with a dedicated account manager. I personally don’t feel the need for an account manager as I like to trade on my own accord but if you are looking for a little assistance along the way then this can help. Regulation FP Markets is authorised and regulated by the Australian Securities and Investment Commission (ASIC) and Cyprus Securities and Exchange Commission (CySEC). This strict regulation means that they must comply to strict rules and regulations which helps to give you peace of mind that you are using a trusted and reputable trading broker who will operate with the upmost integrity and transparency. I always prefer to trade with a regulated broker as I want my funds to be in safe hands. The only potential downside for some traders is that regulation means that some features are restricted. Leverage being one of them as unregulated brokers tend to offer higher leverage. Traders Way for example have leverage all the way up to 1:1000 but they do lack in regulation. It really depends what matters most to you. Funds Your funds are held in segregated accounts with top tier banks, separate from the company’s funds to ensure that they cannot be used for any other purpose. Unfortunately, there is no negative balance protection for ASIC and St Vincent clients and negative balance protection is only available if you have an account with the CySEC entity. Countries FP Markets accepts clients from all over the world although they do not accept applications from residents of USA, Japan or New Zealand, or from any other country or jurisdiction where restrictions apply due to local laws and regulations. To find a suitable alternative you can go to compare brokers page. Platforms You can access global markets and manage your portfolio from a range of industry leading trading platforms. You can choose between Metatrader 4 (MT4) & Metatrader 5 (MT5), IRESS, webtrader and mobile apps for iPhone and Android devices. I like the simplicity of the MetaTrader platforms and the fact they are available with most brokers. IRESS is more limited, with FXTRADING.com and TMGM being amongst the brokers who also offer that particular platform. Just keep in mind, if you decide to switch brokers down the link, your choices may be dependent on the platform you are familiar with. MetaTrader 4 Platform MetaTrader 4 (MT4) is one of the world’s most popular trading platforms and provides live streaming prices with advanced charting features including a large range of 50+ built in indicators for market analysis to assist you with your trading decisions. The FP Markets MT4 platform incorporates an ECN exchange model for fast order execution. Multiple charts and market data can be viewed at the same time which enables you to efficiently track multiple instruments. One click trading is supported so that you can easily execute numerous order types directly on live charts. You can sign up for free to the MQL5 community to access many other indicators and follow other traders. You will find plenty of indicators, robots and signals. It is also a great place to ask any questions, request tools and learn more about the platforms. MT4 is available on desktop (Windows / Mac), web and as mobile trading apps (iPhone / iPad / Android / Tablet). I find both platforms to be very user-friendly. I can easily open charts, load indicators, analyse instruments and place trades. I like the convenience of being able to follow the progress of my trades via the mobile app at any time I feel like it. MT4 is fully customisable to suit your own individual preferences with emphasis put on usability for quick and efficient trading. There are multiple chart types and time frames along with a set of drawing tools. You can modify chart layouts, time frames, colours and add technical indicators to charts. |
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