The regulatory status is in fact the most crucial factor since, to put it simply, it indicates that a client is being handled fairly in accordance with international laws and standards. Due to regulation, broker traders’ funds are kept separate from corporate funds and are kept in a few top-tier banks, including National Australia Bank and Commonwealth Bank of Australia, with daily fund reconciliation and the application of investment protection standard covers.
But different authorities implement different regulations in accordance with their own legislation and specific rules, which can cause them to deviate from one body or regulator to another. Like how FP markets Cyprus entity protects against negative balances in client accounts and includes retail accounts in the compensation programme, although this is not an instance of an SVG organization. Therefore, always be sure to better understand the organization under which you trade as well as the protection and privacy policies that apply to you and for that you should check fp markets review.
What does FP Markets Leverage offer?
Since leverage was among the first parts to be regulated, the levels of leverage vary depending on the entity you choose to open an account with. See some of our findings below.
Being an Australian broker, FP Markets abides by the ASIC laws and has significantly lowered its leverage from when it was 1:500 to the current level. Additionally, FP Markets is subject to additional regulatory requirements laid down by ESMA in its other EU entity, whereas its international branch is governed by different laws, which is why leverage may be higher for some of the products offered.
Trading in Europe is limited to 1:30.
Types of accounts
Two account categories with STP and ECN execution models are offered through the MT4 or MT5 platforms from FP Markets. Additionally, there are three IRESS account kinds to accommodate the needs of traders that favour this specific software. Additionally, FP markets provide MAM and PAMM accounts. Copy trading is offered on all the accounts. Other brokers with Islamic FX accounts are also visible.
However, as we can see, there are some variations in the proposals as well as in the pricing models, so be sure to examine which one is best for your requirements.
Opening a Demo Account
You can sign up for a Demo account practically immediately and switch to a Live account thanks to the digital and simple account creating process. To ensure that you have a seamless access to the trading experience, FP Markets either confirms the application on the same day or within 1-2 days at most.
You should really take the next steps to open an account with FM Markets.
- Your name, email address, and country of residence
- Upload your documents, identification, and any evidence of information as verification of your identity.
- Choose the preferred account type & trading platform.
- Fill out the form to demonstrate your financial experience.
- Once your account has been verified, make your first deposit, and begin trading.
You can trade 10,000+ products with FP Markets, including Forex, Indices, Commodities, Metal, Bitcoin, and Equity CFDs. As we will see in the FP Markets review that follows, the company provides spreads that are competitive, gives customers access to more than 70 different forex pairs, and offers other assets.
Each instrument also specifies the terms of its trading, offering variable leverage across a single account and requiring specific margins that you can always verify on the FP markets interface. It is the best forex trading platform for beginners.
There are several predetermined requirements for FP Markets pricing that may apply to various account types, such as IRESS account charges based on a commission + percentage from trade basis depending on the instrument. Therefore, you have the option to choose one that is appropriate for your trading style and volume. To get a complete picture of fees, we also consider deposit and withdrawal fees.
Spreads for FP Markets
The EUR/USD floating spread for STP accounts averages 0.7, while the EUR/USD floating spread for ECN accounts is only 0.1. FP Markets spread is also determined by the type of account. The commission for every order placed through an ECN account is determined by the instrument and is 3 dollars for Forex instruments, 3.5 dollars for metals, and zero dollars for commodities or cryptocurrencies. You may also compare fees with another well-known broker, BDSwiss.