FP Markets Review

First Prudential Markets, also known as FP Markets, is one of Australia’s most awarded CFD providers. In addition to providing their clients with cutting edge technology and competitively priced traded instruments, FP Markets was also the first company to introduce the Direct Market Access model. DMA aims to align both the clients interests with the company’s by providing users with the best possible price and fastest execution on all of their CFD instruments. FP Markets has continually proven itself to be a leading company in providing competitively priced commission rates with transparent pricing, excellent customer service and an innovative, user-friendly platform.

Since the establishment of FP Markets in 2005, the company has been recognised through numerous prestigious awards, some of which include:

  • 2015 Winner Investment Trends CFD Report – Educational Material/Programs
  • 2015, 2014 & 2013 Winner Investment Trends CFD Report – Highest Overall Client Satisfaction
  • 2015, 2014 & 2013 Winner Investment Trends CFD Report – Trade Execution
  • 2015, 2014 & 2013 Winner Investment Trends CFD Report – Customer Service
  • 2015, 2014 & 2013 Winner Investment Trends CFD Report – Value for Money

FP Markets Platforms

FP Markets offer their clients the ability to trade from various platforms which use a range of CFD accounts that are tailored to suit the needs of all traders. The platforms offered by the company include IRESS Trader, MetaTrader4, iPhone IRESS and FP Online. Features of these platforms include:

  • IRESS Trader
  • Gives access to real time, live data
  • DMA for CFD products
  • A variety of order types
  • Stop losses
  • Access to international data
  • Access to live news feeds
  • FP Online
  • Free HTML based trading platform
  • Offers a variety of information on online CFDs
  • Provides extensive variety of market information for both Australian and internationally listed equities for CFDs
  • MetaTrader4
  • Free online platform specifically designed for forex trading
  • Access securities’ quotes
  • Allows automated trading
  • Live quotes streamed direct
  • Live chart updates
  • Up-to-date news and analysis
  • Spreads from 0.01 pips
  • Liquidity available from leading global banks
  • Multiple platforms available to chose from
  • Free online Demo Account

FP Markets Account Types

FP Markets offers a range of accounts for users to trade from which are tailored to each specific instrument. The tables below provide an overview of the account types offered by the company.

CFD Accounts
Professional Platinum Premiere
Min. Opening Balance Required AUD $1,000 AUD $25,000 AUD $50,000
Financing RBA + 3.25% RBA + 2.75% RBA + 2.25%
Brokerage Rate Minimum $10, then 0.1% Minimum $9, then 0.09% No minimum, then 0.08%
Platform Fees:

IRESS Trader

AUD $55 (inc. GST)

Fee is waved if $150 is generated in comm/month

AUD $55 (inc. GST)

Fee is waved if $150 is generated in comm/month

Platinum fee is waved
Platform Fees:

IRESS Investor

Free Free Free
Live ASX Data Standard Fee $22 (inc. GST)

Fee is waved if $50 is generated in comm/month

$22 (inc GST)

Fee is waved if $50 is generated in comm/month

ASX royalty fee waved
Delayed ASX or click to refresh fee No fee No fee No fee
Trades made via telephone No fee No fee No fee
Forex Accounts
Standard Account Raw/ECN Account
Platform Available MetaTrader4 MetaTrader4
Spreads From 1.0 pips From 0.1 pips
Instruments Available Over 60 FX pairs, Indices, Commodities and metals Over 60 FX pairs, Indices, Commodities and metals
Maximum Leveraging Available 500:1 500:1
Commission per lot Zero AUD $3.50 per 100,000
Execution STP STP
Trade Size Minimum 0.01 lot 0.01 lot
Minimum Deposit AUD $200.00 AUD $1,000.00
VPS Available Yes Yes
Mobile Accessible Yes Yes
EA’s Yes Yes
Share Trading Accounts

Fees and Charged for IRESS Trader and FP Live

Commission 0.11% (GST included)
Minimum Fee AUD $14.95 (GST included)
Account Opening Fee Free of charge
Trades made via telephone No Fee
Stop Loss Orders No Fee
Alerts No Fee
Daily Market Commentary No Fee

Why Choose FP Markets?

  • FP Markets is 100% Australian owned and operated
  • The company is licensed and recognised as a CFD and forex broker in Australia by the Australian Securities and Investments Commission (ASIC)
  • Full transparency with Direct Market Access on all CFD products including indices, futures and equity CFDs
  • One of the largest range of Australian CFD shares
  • One of the most awarded CFD and forex providers
  • Variety of education and research resources available to clients
  • High quality trading platform with access to the IRESS and MT4 platform
  • Free demo account on FP Online
  • Client funds are held in segregated accounts with the National Bank of Australia and managed in accordance with Australian legal requirements
  • ECN pricing and STP (straight through processing) on both forex accounts
  • Integrated platform from which both ASX shares and CFDs can be accessed from the one platform using the same login details

FP Markets Summary

FP Markets is one of the most awarded CFD and forex providers in the industry. The company specialises in Direct Market Access trading for their clients with no dealer intervention required between clients and the market so prices and liquidity are identical to the live market exchange. This is highly beneficial for users as there are no re-quotes in prices and no order rejections during periods of fast moving prices. Trades are also completely hedged which means orders flow seamlessly onto the underlying stockmarket.

In summary, FP Markets is a highly credible CFD provider that continually offers their clients the most transparent pricing on every product they have. FPs dedication and commitment to providing users with the highest level of customer service and most innovative, user-friendly technology can be clearly seen throughout every aspect of the company. It is suggested that FP Markets would be best suited to experienced traders looking for DMA trading on all products, as well as a feature packed integrated trading platform. For those traders who are looking for the most cost effective trading company please see our TradeDirect365 review.