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FP Markets - A Trader's Secret Weapon?

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I've been trading for a few years and have dealt with a variety of brokers, both reputable and shady. Overall, I've had a mixed bag of experiences.

However, it makes me wonder if there is any particular reason why a broker like FP Markets has not received the attention that they most likely deserve among traders. Whereas shady brokers (even those that are not regulated) have received a lot of attention in forums. I've been trading with them for almost a year now, and they seem to tick all the boxes that a Trader would require.

FP Markets has been in operation for 15 years (Operational since 2005). Have several licenses, including ASIC, Cysec, and, most recently, an offshore one (st.vincents). What matters most to a trader are the trading conditions—spreads, execution speed, and commission.

According to my observations, FP Markets' trading conditions appear to be significantly better than those of other similar or even larger brokers. For most of the day, their spreads (on their ECN / RAW Account) are right up there (check below) I believe the commission they charge (6$ per round lot) is lower than that of other similar ECN pricing brokers. (on average, $7)

I am not an employee of FP Market, nor am I an IB/Affiliate for them. I just wanted to share my personal experience with FP Markets so that other traders can learn from my mistakes and avoid dealing with shady brokers.

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This gets a plus one. I've been trading with FP Markets for approximately six months and have had an excellent experience. Their trading conditions have been steadily improving over the last few months, and their spreads are currently among the tightest in a variety of currency pairs.

It is true that they have not received the attention they deserve, given that their services are superior in many ways to those offered by the majority of other brokers; perhaps they have not been as aggressive with their marketing? However, given that they've been in operation since 2005, I'm assuming they've developed their own clientele over time.

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This is not the right place to advertise your company. Both users above should be banned. I'm sick of FP advertising
 
 
 
 
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Just now, MellRoach said:
This is not the right place to advertise your company. Both users above should be banned. I'm sick of FP advertising
 
 
 
 
  •  

What exactly do you mean by advertising? If you can read, you've probably figured out that this is a "broker discussion" thread.

I have every right to talk about the broker with whom I trade. I've been a member of this forum for 5 years and previously participated in ICM discussions when I was trading with them, so why should I hesitate to discuss my current broker, FP Markets?

And everything I mentioned in my original post is based on my actual live trading experience and screenshots from sites like Forexfactory, myfxbook, and fxempire.

There is no hard and fast rule about what I should and should not discuss. Forums are not just for negative criticism; if my experience with a particular broker has been positive, I can certainly discuss it for the benefit of other traders.

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Is there an online version of FP Markets' trading platform? Something akin to a web trader that can be accessed via any browser?

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I've been using their demo for a while now, and the only thing I don't like about FP Markets is that they don't have negative balance protection.

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I had an account with FP for a short period recently. I wasn't happy so I closed the account.

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Is it possible for FP Markets to accept UK clients under their ASIC license, or should we only use their Cysec Entity?

I'd prefer to operate under their ASIC license because I need a little more leverage.

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I've only been trading with FP Markets for about two months now. The only way they could improve is to add more local funding options; I had to use a bank wire because my local credit card was not accepted for some reason.

Is there any way to find out if FP Markets adds UK clients to their ASIC license or if we should just go with their Cysec Entity? I'd prefer to work under their ASIC license because I'd like a little more leverage.

Despite the fact that I am based in Austria, I was able to select their ASIC entity without any leverage restrictions. When you register, you have the option of registering with CYSEC or ASIC.

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Just now, ScratchySlap said:

I've only been trading with FP Markets for about two months now. The only way they could improve is to add more local funding options; I had to use a bank wire because my local credit card was not accepted for some reason.

Is there any way to find out if FP Markets adds UK clients to their ASIC license or if we should just go with their Cysec Entity? I'd prefer to work under their ASIC license because I'd like a little more leverage.

Despite the fact that I am based in Austria, I was able to select their ASIC entity without any leverage restrictions. When you register, you have the option of registering with CYSEC or ASIC.

Have you -or anyone reading this thread- had any issues with withdrawing your funds from FP Markets?
Weird tech issues...spreads, slippage....unexplained spikes?

Thanks!

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