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FP Markets Review

4.9/5 - (12 votes)
FP Markets

FP Markets is a reputable broker that offers strong trading platforms and comprehensive education. FP Markets excels in diversification and execution with extensive tradable items and narrow spreads. Colombian Traders can expect generous cashback rebates.

Updated : June 21, 2024

Jump to:

Overview

Regulation and Safety of Funds

Awards and Recognition

Account Types and Features

Account Registration

Broker Comparison

Trading Platforms

Range of Markets

Fees

Deposit and Withdrawels

Education and Research

Bonuses and Promotions

Affiliate Programs

Customer Support

Social Responsibility

Final Verdict

Pros and Cons

FAQ

Min Deposit

USD 100

Regulators

ASIC, CySEC, FSCA, CMA

Trading Desk

MT4, MT5, Iress Trader, cTrader

Crypto

Yes

Total Pairs

70

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

Overview

 

FP Markets Overview
 
 

Examining FP Markets’ history reveals a fascinating journey from its inception in Sydney, Australia, in 2005 to its current position in the global financial arena.

 

At the outset of the process, the Australian Securities and Investments Commission (ASIC) granted FP Markets an Australian Financial Services License, demonstrating the company’s commitment to providing honest and transparent trading services.

 

FP Markets has achieved several milestones and cemented its position in the trading community. Among these is the company’s consistent recognition for providing excellent client service and transaction execution.

 

The company’s five-year streak of winning “The Highest Overall Client Satisfaction Award” demonstrates its ongoing commitment to its clients.

 

FP Markets has also been recognized for its competitive spreads and value offer by winning the “Best Global Forex Value Broker” title at the Global Forex Awards each year from 2019 to 2022.

 

FP Markets’ commitment to Africa is further demonstrated by its expansion into emerging markets, including a license in Kenya in 2023.

 

The broker offers Colombian traders numerous opportunities to diversify their portfolios thanks to its extensive selection of tradable items, which exceeds 10,000 across many asset classes.

 

FP Markets is an appealing choice for new and experienced Colombian traders due to its narrow spreads, fast execution, and robust trading platforms such as MetaTrader 4, MetaTrader 5, and Iress.

 

In which country has FP Markets had its origin?

FP Markets had its origin in Sydney, Australia.

 

Does FP Markets adhere to any regulatory restrictions?

Yes, FP Markets adheres to the rules of regulatory entities ASIC and CySEC.

FP Markets Review At a Glance

🗓Established Year2005
🪪Regulation and LicensesASIC, CySEC, FSCA, FSA, FSC
🌟Ease of Use Rating4/5
💰BonusesNo
⏰Support Hours24/7
📊Trading PlatformsMetaTrader 4, MetaTrader 5, IRESS, cTrader, FP Markets App
📈Account TypesStandard, Raw, Islamic Standard, Islamic Raw
💸Base CurrenciesAUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, USD, SGD
📊SpreadsFrom 0.0 pips
📈Leverage1:500
💳Currency PairsMajor, Minor, Exotic
💰Minimum Deposit257,691 COP (AU$100)
💸Inactivity FeeNone
🗣Website LanguagesEnglish, Arabic, German, Portuguese, Vietnamese, Indonesian, French, Malay, Italian, Russian
⚖️Fees and CommissionsSpreads from 0.0 pips, commissions from US$3 per side
📚Affiliate ProgramYes
🏛️Banned CountriesUnited States, Japan, New Zealand
💻ScalpingYes
🔎HedgingYes
✴️Trading InstrumentsForex, Shares, Metals, Commodities, Indices, Cryptocurrencies, Energies, ETFs, Bonds
👉 Open AccountOpen Account

Regulation and Safety of Funds

 

FP Markets Regulation

 

FP Markets is not regulated by Colombia’s Superintendencia Financiera de Colombia or “SFC” (Financial Superintendence of Colombia). However, FP Markets is globally regulated as listed in the table below:

 

FP Markets Global Regulations

🏛️Registered Entity🌎Country of Registration🔎Company reg.🔎Regulatory Entity📈Tier🪪License Number/Ref
First Prudential Markets Pty LtdAustraliaABN 16112600281ASIC1AFSL 286354
First Prudential Markets LtdCyprusHE372179CySEC2371/18
FP Markets (PTY) LTDSouth Africa2018/097037/07FSCA2FSP 50926
FP Markets LTDMauritiusFSC3GB21026264
First Prudential Markets LimitedSeychellesFSA3SD130

 

FP Markets Protection of Client Funds

🛡️Security Measure🖺Information
Segregated AccountsYes
Compensation Fund MemberYes
Compensation Amount20,000 EUR (Only European clients are eligible)
SSL CertificateYes
2FA (Where Applicable)Yes
Privacy Policy in PlaceYes
Risk Warning ProvidedYes
Negative Balance ProtectionYes
Guaranteed Stop-Loss OrdersNo

 

Does FP Markets have a good privacy policy for Colombian traders’ information?

Yes, FP Markets has a Privacy Policy to safeguard Colombian traders.

 

Does FP Markets belong to a Compensation Fund?

Yes, FP Markets belongs to a Compensation Fund.

FP Markets Awards and Recognition

 

FP Markets Awards

 

We explored FP Markets’ website and found that the broker has won the following recent awards:

 

  • FP Markets extended its winning trend in 2024, receiving the ‘Best Forex Broker – Europe’ and ‘Best Forex Partners Programme – Asia’ at the Global Forex Awards. FP Markets won the ‘Best Global Forex Value Broker’ title for the fifth year in a row.

 

  • In 2023, FP Markets received the ‘Best Trading Conditions’ and ‘Most Trusted Broker’ awards at the Ultimate Fintech Awards Global. The event was hosted in Limassol, Cyprus, and is recognized for commemorating the accomplishments of the greatest brokerage firms worldwide.

 

  • FP Markets also won the ‘Best Trade Execution’ and ‘Most Transparent Broker’ honors at the Ultimate Fintech Honors APAC 2023.

 

  • FP Markets was also named the “Best CFD Broker in Africa” at the FAME Awards 2023. This was FP Markets’ first award in Africa, and it corresponded with its regulatory certification from South Africa’s Financial Sector Conduct Authority (FSCA) in 2022.

FP Markets Account Types and Features

 

FP Markets Account Types

 

FP Markets offers two main account types, Standard and Raw and Islamic versions, both, to emphasize the platform’s consistently competitive trading conditions and benefits for Colombians.

 

As a reputable ECN broker, FP Markets guarantees Colombians quick trade execution via their accounts. See what features these accounts offer and what Colombians can expect when using them to trade online:

 

StandardRawIslamic StandardIslamic Raw
⚖️AvailabilityAll Traders; ideal for beginners and casual tradersAll traders; ideal for scalpers and algorithmic tradersMuslim traders; ideal for beginners and casual tradersMuslim traders’ ideal for scalpers and algorithmic traders
📈MarketsAllAllAllAll
💳CommissionsNoneUS$3 per sideNoneUS$3 per side
💻PlatformsAllAllAllAll
📊Trade SizeFrom 0.01 lotsFrom 0.01 lotsFrom 0.01 lotsFrom 0.01 lots
📈Leverage1:5001:5001:5001:500
💰Minimum Deposit257,691 COP (AU$100)257,691 COP (AU$100)257,691 COP (AU$100)257,691 COP (AU$100)

 

FP Markets Demo Account

FP Markets provides a demo account with a virtual balance of $100,000, giving you plenty of room to try different trading strategies and gain insight into the market’s workings.

 

We found that FP Markets’ 30-day demo account validity is sufficient for evaluating the platform’s features and functionality. With this sizable virtual fund, you can practice various trading techniques without risking any money.

 

According to our observations, access to the demo account allows users to simulate using a live account by investigating a variety of tradable marketplaces such as indexes, commodities, precious metals, cryptocurrencies, FX, and stock CFDs. Additionally, users can test automated trading strategies in actual market conditions using the demo account.

 

Colombians can extend the account’s duration by contacting customer support and adding more virtual dollars if necessary.

 

FP Markets Standard Account

Colombian traders looking for a more straightforward or beginner-friendly approach to Forex trading should consider the Standard Account offered by FP Markets.

 

You will not have to worry about commissions with this account, so you can focus on making trades. Furthermore, the spreads are competitive, with starting prices of just one pip on popular currency pairs such as EUR/USD.

 

This account can be opened with a minimum of 257,691 COP (AU$100), making it available to traders hesitant to make a large initial investment. Furthermore, you will have more trading freedom because FP Markets allows leverage up to 1:500.

 

FP Markets Raw Account

FP Markets’ Raw Account is an excellent choice for Colombian traders looking for market pricing and low spreads.

 

With raw spreads as low as 0.0 pips, it is suitable for both scalpers and high-volume traders. Furthermore, the spread expenses outweigh the $3 lot fee. You can use this account to apply leverage up to 1:500 with a minimum deposit of 257,691 COP (AU$100).

 

FP Markets Islamic Standard Account

FP Markets offers the Islamic Standard Account for Colombian traders who follow Sharia law. It charges an administrative fee per Islamic finance regulations instead of charging a swap or interest on overnight assets.

 

This account has spreads beginning at 1 pip and no commission fees. The Standard Account’s minimum deposit and leverage options have not changed to ensure comparable opportunities for Islamic traders without compromising their principles.

 

FP Markets Islamic Raw Account

For Colombian traders who follow Sharia law, FP Markets provides an Islamic Raw Account, a swap-free version of the Raw Account. It replaces exchange costs with a set administrative cost. With raw spreads as low as 0.0 pips, aggressive traders can dramatically reduce their trading costs.

 

Furthermore, there is a $3 per lot fee, with a minimum deposit of 257,691 COP (AU$100), and leverage possible up to 1:500.

 

FP Markets Professional Account

Experienced traders interested in advanced trading can open a Professional account with FP Markets.

 

In our opinion, it offers more leverage and unique features that improve the trading experience. Colombian traders must, however, meet the prerequisites, which include passing both the Wealth Test and the Experienced Trader Test.

 

To pass the Wealth Test, a qualified accountant must attest to the applicant’s net worth of 2.5 million AUD or annual gross income of 250,000 AUD over the previous two fiscal years.

 

Passing the Experienced Trader Test requires a solid trading record and an online assessment of your trading abilities.

 

However, Colombian traders must be aware that the Professional account carries a higher risk of significant losses, necessitating a thorough understanding of leverage and risk management.

 

Overall, the enhanced features of the Professional account, combined with FP Markets’ ECN rebate and STP offerings, make it a compelling choice for traders looking for a dynamic trading environment.

 

Can Colombian traders expect quick trade execution on their accounts with FP Markets?

Yes, as a reputable ECN broker, FP Markets guarantees Colombians quick trade execution via their accounts.

 

Why do expert traders use the professional account at FP Markets?

The professional account offers enhanced features and rebate and STP offerings.

FP Markets Account Registration

 

FP Markets Open Account

 

We were pleased to find that FP Markets offers a straightforward account opening process from its website.

Here’s how we registered an account with FP Markets to start trading:

 

Step 1 – Visit the official website of  FP Markets.

To start the account registration process, Colombians can visit FP Market’s official website and click the “Open Live” option from the top toolbar.

 

Step 1 - Select Open Live

 

Step 2 – Complete Registration Process

We went with the conventional registration by entering an email address and then providing some personal details like First and Last Name, Account type, country of residence, preferred language, and telephone number. Before continuing, we also had to acknowledge and accept the FAIS Upfront Disclosure and indicate that we are not United States Citizens. Next, an OTP was sent to the phone number provided and we entered this into the required field, thereby confirming our contact details.

 

Step 2 - Complete Registration Process

 

Step 3 – Fill in all your personal details.

The next section requires additional information that we had to provide like date of birth, physical address, identity details, employment information, source of wealth, and annual income. Next, we could configure our account by selecting a preferred trading platform, account type, trading currency, and desired leverage ratio.

 

Can I create an FP Markets account from home?

Yes, you can open an account online from anywhere, but you must prove your identity to create an account with FP Markets.

 

Can I create an account with FP Markets without divulging my whereabouts?

No, you need to give information about your residency with a utility bill or bank statement when creating your FP Markets account.

FP Markets Broker Comparison

🥇 FP Markets🥇 BDSwiss🥇 AvaTrade
🗺️ RegulatationCySEC, FSCA, ASIC, FSC, FSACySEC,
FSC,
BaFIN,
FSA
CySEC, FCA, South Africa FSCA, the Seychelles FSA, the BVI Financial Services Commission and the Central Bank of Curaçao
💻 Trading PlatformMetaTrader 4
MetaTrader 5
cTrader
IRESS
FP Markets App
MetaTrader 4
MetaTrader 5
BDSwiss Mobile
BDSwiss Web
AvaTrade WebTrader
AvaTradeGO
AvaOptions
AvaSocial
MetaTrader 4
MetaTrader 5
DupliTrade
ZuluTrade
💰 Withdrawal feeYesNoNo
💳 Demo Trading AccountYesYesYes
💰 Minimum Deposit257,000 COP (AU$100)39,000 COP ($10)390,000 COP ($100)
📊 Leverage1:500Up to 1:10001:30 (Retail)
1:400 (Pro)
💰 Spreads0.0 pipsFrom 0.0 pipsFixed, from 0.9 pips
🚀 CommissionsFrom US$3From $2None
📊 Margin Call/Stop out100%/50%50%/20%25% – 50% (M)
10% (S/O)
📊Order ExecutionMarketInstant/MarketInstant
❌No-Deposit BonusNoNoNo
🪙Cent AccountsNoYesNo
📒 Account TypesMT4/5 Standard Account
MT4/5 Raw Account
MT4/5 Islamic Standard Account
MT4/5 Islamic Raw Account
Cent Account
Classic Account
VIP Account
Zero Spread Account
Retail Account
Pro Account
Islamic Account
🏛️BCEAO RegulationNoNoNo
💰XOF DepositsNoYesNo
💻XOF AccountNoNoNo
📞Customer Service Hours24/724/524/5
💳Retail Investor Accounts441
☪️Islamic AccountYesYesYes
💰Minimum Trade Size0.01 lots0.01 lots0.01 pips
💸Maximum Trade Size50 lots50 lotsUnlimited
⏰Minimum Withdrawal TimeInstantInstant24 to 48 Hours
⏲️Maximum Estimated Withdrawal TimeUp to 10 working daysWithin 24 hoursUp to 10 days
💳Instant Deposits and Instant Withdrawals?YesYesNo
👉Open AccountOpen AccountOpen AccountOpen Account

FP Markets Trading Platforms

 

Trading Platforms FP Markets

 

We were very pleased to learn that FP Markets supports MetaTrader 4, 5, and cTrader, IRESS, and an Android/iOS app. Read on to find out what we discovered while testing these platforms using FP Markets demo accounts:

 

MetaTrader 4

Our review of the MetaTrader 4 (MT4) platform by FP Markets revealed the seamless integration of FP Markets’ advantageous trading conditions. The platform’s user-friendly design suits Colombian traders of all skill levels. Quick transaction processing is essential in today’s fast-paced industry, and MT4 has that capability.

 

In addition to FP Markets’ extremely thin spreads (which begin at 0 pips for Raw accounts), we preferred MT4’s advanced charting tools and comprehensive technical analysis indicators.

 

Depth of Market (DOM) is a unique MT4 feature at FP Markets that displays real-time data on market depth, increasing transparency. This function was extremely useful for determining market liquidity at various price points, allowing for more calculated trades.

 

The platform’s adjustable features enable Colombian traders to customize their trading environment.

 

MetaTrader 5

The MetaTrader 5 (MT5) platform from FP Markets provides an even better trading environment than its predecessor.

 

The extended time and technical indicator range of MT5 benefit complex market investigations. We like the economic calendar because it allows traders to track major economic changes without switching apps.

 

The growing number of order types made managing trade entries and exits easier.

 

The platform’s market execution and Level II pricing enabled faster and more transparent transactions.

 

cTrader

The cTrader platform from FP Markets stood out for its sleek design and ease of use. Charting and order management outperform other systems.

 

Colombian traders who track many assets will appreciate the analytical depth provided by extracting charts and displaying them on multiple displays.

 

Others offer algorithmic trading, but FP Markets’ robust infrastructure and quick trade execution make cTrader the clear winner. This minimizes slippage and improves automatic trades.

 

FP Markets App

The FP Markets app simplifies trading without sacrificing functionality. Even on smaller screens, the basic, intuitive design is simple. The app allows you to execute trades and receive quotes with a few taps to respond to market changes while on the go.

 

FP Markets’ quick execution rates and real-time market data provide Colombian traders a desktop-like mobile trading experience.

 

Our favorite feature of the software is its excellent charting capabilities, which enable users to perform technical analysis wherever they are.

 

IRESS

We discovered FP Markets’ IRESS platform to be a complex trading environment. IRESS’s market depth and real-time pricing information distinguish it and enable informed decisions.

 

The platform’s versatility enables Colombian traders to tailor the layout and tools to their trading style, which is beneficial for market analysis.

 

Our findings revealed that the platform supports conditional orders and other advanced order types, which enhances trading administration and automation. IRESS’s direct market access and open fee structure demonstrate FP Markets’ transparency in trading.

 

IRESS’s broad feature set, reasonable pricing, and quick execution times make it an excellent option for Colombian traders trading stocks, CFDs, and other assets.

 

What is convenient about the IRES platform of FP Markets?

IRESS’s direct market access and open fee structure, as well as its broad feature set, reasonable pricing, and quick execution times, make it an excellent platform for Colombian traders.

 

What cool features does the FP Markets App have?

A cool feature of the FP Markets App is its excellent charting capabilities, which enable users to perform technical analysis wherever they are. It also provides quick execution rates and real-time market data.

 

FP Markets Range of Markets

 

Trading Tools FP Markets

 

We researched FP Markets’ instruments and asset classes on the website to provide Colombian traders with the following summary.

 

Bonds

FP Markets offers government, corporate, and municipal bonds for Colombian traders to explore the world of bonds. Investing in bonds can provide a way to diversify your investment portfolio and potentially achieve consistent returns.

 

Traders can easily maximize their potential gains and effectively manage risk with the help of competitive leverage options.

 

In addition, according to our research, trading bonds with FP Markets enables Colombian traders to navigate various interest rate climates and economic scenarios, maximizing their profit potential.

 

Cryptocurrencies

FP Markets offers a platform for Colombian traders who want exposure to cryptocurrencies such as Bitcoin, Ethereum, and Ripple. Furthermore, the unpredictable cryptocurrency market offers various opportunities for substantial price fluctuations and potential gains.

 

FP Markets provides attractive leverage options, allowing Colombian traders to maximize their trading capital. In addition, the cryptocurrency market operates 24/7, allowing traders to trade whenever it suits them.

 

Agricultural Commodities

Various agricultural commodities, such as sugar, coffee, soybeans, and maize, are available through FP Markets. Traders in Colombia can easily benefit from the high global demand for these commodities and make a profit by strategically navigating price fluctuations.

 

When it comes to trading agricultural commodities, we urge traders to consider various factors such as weather patterns, supply and demand dynamics, and geopolitical influences. Exploring different leverage options can help maximize trading positions and potentially increase returns.

 

Energies

FP Markets allows Colombian traders to engage in energy commodity trading, encompassing petroleum, natural gas, and crude oil. Understanding the fluctuations in energy markets can lead to potential gains from price changes.

 

With competitive leverage options, we believe that Colombian traders have the opportunity to make the most of their trading capital and potentially increase their returns.

 

In our opinion, staying up to date on global energy market dynamics, including geopolitical events and supply-demand dynamics, allows Colombian traders to make informed trading decisions.

 

Metals

As a hedge against inflation and economic uncertainty, FP Markets makes trading precious metals, including copper, gold, silver, and platinum, easier. Trading metals can help diversify portfolios and potentially lead to capital appreciation.

 

In our experience, exploring various leverage options can help maximize trading positions and potentially enhance returns. Industrial production, jewelry demand, and investment trends significantly impact metal demand, creating potential profit opportunities for traders in Colombia.

 

Forex

FP Markets allows Colombian traders to access the forex market and trade a diverse selection of currency pairs. The forex market provides a wide range of trading opportunities due to its high liquidity and tight spreads.

 

By utilizing competitive leverage options, traders can effectively manage their capital and potentially enhance their returns. With the forex market open 24/5, traders have the flexibility to take advantage of global market trends, aligning with their preferences.

 

Indices

Colombian traders may trade the S&P 500, FTSE 100, and Nikkei 225, among other international stock indexes, with the help of FP Markets. Trading indices offer a way to diversify your exposure and capitalize on broad market movements.

 

Exploring different leverage options can help maximize trading capital and potentially increase returns. With a keen eye on global market trends and economic indicators, we believe that Colombian traders will be well-equipped to make informed decisions when trading indices.

 

Shares

FP Markets gives users access to a large selection of shares from international stock exchanges, including well-known businesses in various industries. Investing in shares can provide opportunities for increasing your capital and earning dividends.

 

In our experience in stock investing, by staying informed about individual company performance, industry trends, and market sentiment, Colombian traders can spot profitable trading opportunities in the shares market.

 

FP Markets Leverage and Margin

Our review team extensively researched FP Markets’ margin and leverage products for Colombian traders, using reliable sources, including the broker’s website and the customer agreement.

 

By avoiding generic data and favoring a more analytical approach, we aimed to provide a thorough and unique analysis of this topic.

 

We found that Colombian traders can improve their trading positions and increase their earnings using FP Markets’ competitive leverage and margin options.

 

We found that traders can participate in transactions up to 500 times larger than their account balance because FP Markets offers a leverage ratio of up to 1:500 on forex major pairs.

 

While this is extremely attractive, we must emphasize that traders must understand the dangers of large leverage. It can easily increase the likelihood of gains but also increase the likelihood of losses.

 

Therefore, before heavily relying on leverage, Colombian traders should familiarize themselves with the markets and their trading strategies inside and out and manage their risk wisely.

 

In addition to leverage, we explored the margin requirements of FP Markets. What we found is that when trading on FP Markets, Colombian traders must maintain a minimum margin of a specific percentage of their total position value.

 

This rule’s purpose is to ensure that traders always have enough money to pay for their losses. Furthermore, different traded instruments have different volatility and liquidity levels, affecting the margin needs.

 

We greatly appreciate that FP Markets provides detailed information on their website on margin requirements.

 

Notably, traders must know that FP Markets can specify different margin requirements for certain account types or trading platforms. Therefore, traders should consult the broker’s website or customer agreement for accurate information specific to their account.

 

Do traders need to have a reasonable margin to trade forex?

Yes, especially forex trading requires a margin to open and maintain a position.

 

Can Colombian traders trade at very high leverage with FP Markets?

Yes, Colombian traders can trade at leverage of 1:500 in certain circumstances.

Min Deposit

USD 100

Regulators

ASIC, CySEC, FSCA, CMA

Trading Desk

MT4, MT5, Iress Trader, cTrader

Crypto

Yes

Total Pairs

70

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

FP Markets Fees

 

Spreads and Fees FP Markets

 

We found that they were competitive when we looked at FP Markets’ trading and non-trading costs. Colombians can read the following sections to learn about FP Markets’ trading costs.

 

FP Markets Spreads

According to our analysis, FP Markets’ tight spreads may benefit Colombian traders. The raw account spreads for popular forex pairs such as EUR/USD begin at 0.0 pips and average at 0.09. This contrasts with the Standard account, where the average currency pair spread is 1.19 pips.

 

FP Markets Commissions

Your account type determines FP Markets commissions. MT4/5 Raw Account charges US$3 per side, for $6 per transaction. This rate is competitive, especially given the account’s small spreads.

 

Our research shows that the Islamic Raw Account has a similar commission structure.

 

Colombian traders can afford these fees because of the low spreads and quick transaction execution.

 

FP Markets Overnight Fees

We discovered that most FX and CFD firms charge overnight fees. These fees are typically levied when traders hold positions overnight. FP Markets’ overnight costs vary by financial instrument and position (long or short).

 

FP Markets calculates these costs using bank interest rates plus a markup on its website. Overnight positions in key forex pairs have a cost that varies with the interest rate differential between currencies.

 

FP Markets waives overnight fees for the first ten nights for Islamic accounts, then charges after that.

 

FP Markets Deposit and Withdrawal Fees

FP Markets charges no deposit fees. Some withdrawal methods, however, may incur a charge. International bank wire withdrawals are AU$10, but Online Pay and Ngan Luong charge more.

 

FP Markets also reimburses third-party foreign bank transfer fees up to $50 for deposits over $10,000. Because banks charge third-party costs, FP Markets’ website may not always display these fees. Colombians should verify them.

 

FP Markets Inactivity Fees

Our research reveals that FP Markets does not charge inactivity fees for dormant accounts. This helps Colombian traders who trade occasionally or stop trading.

 

FP Markets Currency Conversion Fees

FP Markets does not disclose these expenses, but online traders frequently charge a small fee for currency conversions.

 

Colombian traders who deposit or withdraw funds in a currency other than their account base currency (COP) must pay currency conversion fees.

 

Do all the FP Market accounts charge inactivity fees?

No, none of the accounts charge inactivity fees.

 

What is the difference in spread for currency pairs on the FP Markets Standard account and the Raw Account?

The difference in spreads is as follows: for the Raw Account spreads for EUR/USD is on average 0.09 while it is. 1.19 pips with the Standard account.

FP Markets Deposits and Withdrawals

 

Apart from the sheer number of payment methods that FP Markets offers for deposits and withdrawals, we were extremely impressed by the fact that there are local Brazilian methods like Rapyd, Pagsmile, Neteller, and Skrill.

 

View the table below to get an idea of the payment methods offered and keep reading to find a general step-by-step on using each payment category.

 

💳Payment Method🌎Country🪙Currencies Accepted⏰Processing Time
Credit/Debit CardAllAUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD, CZK, PLN, AEDInstant – 10 days
Bank TransferAllAUD, USD, EUR, GBP, SGD, CAD1 day
NetellerAllAUD, CAD, CHF, EUR, GBP, JPY, INR, BRL, SGD, USDInstant – 1 day
SkrillAllAUD, CAD, EUR, GBP, INR, USD, BRLInstant – 1 day
Asia BanksAllMYR, IDR, VNDInstant
SticPayAllJPY, EUR, GBP, USD, HKD, TWD, KRW, SGDInstant – 2 days
FasaPayAllUSD, IDRInstant – 1 day
Virtual PayAllKES, UGX, TSHInstant – 1 day
Rupee PaymentsAllINRInstant – 2 days
RapydAllBRL, MXN, COP, CLPInstant – 2 days
Perfect MoneyAllUSDInstant – 1 day
PagsmileAllBRL, CLP, COP, PEN, MXN, USDInstant – 1 day
CryptocurrenciesAllADA, BCH, BTC, DASH, ETH, LTC, PAX, XRP, TUSD, USDC (ERC20), USDT (ERC20), USDT (TRC20), ZEC1 hour – 1 day
DragonpayAllPHPInstant – 1 day
Rapid TransferAllEUR, DKK, SEK, HUF, GBP, PLN, NOKInstant
Crypto Payments (Finrax)AllBTC, BCH, LTC, ETH (ERC20), USDT (ERC20), XLM, LINK (ERC20), XRP, USDT (TRC20), USDT (BEP20), USDC (ERC20), USDC (TRC20), USDC (BEP20)1 hour – 1 day
MybuxAllZAR, GHS, NGN, RHF, XOF, XAF, NAD, ZMW, TZSInstant
XPAYAllIDR, MYR, THB, VNDInstant – 1 day
Apple PayAllAUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD, CZK, PLN, AEDInstant – 1 day
Google PayAllAUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD, CZK, PLN, AEDInstant – 1 day
PaymentRushAllINRInstant
B2BinpayAllBTC, BCH, DASH, DOGE, ETH, LTC, TUSD, USDC, USDT (ERC20), USDT (TRC20), XRP, ZEC1 business day
ThuderxpayAllLAKInstant
Plusdebit / Online BankingAllVNDInstant
FP Markets P2PAllVNDInstant
Plusdebit/ QR CodeAllVNDInstant
Plusdebit / MOMO QR CodeAllVNDInstant
PaymentAsia (QRIS and e-Wallets)AllIDRInstant
CoinspaidAllBTC, LTC, BCH, ADA, ETH, DOGE, NEO, XRP, USDTE, USDTT, XIN, BNB, BSV, EURS, USDC, TRX, XED, DAI1 business day
Broker to BrokerAllAUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD1 business day
Domestic Bank WireAllAUD1 business day
International Bank WireAllAUDUp to 5 days
Online BankingAllIDRInstant

 

FP Markets Deposits

How to Deposit using Bank Wire Step by Step

  • Access your FP Markets trading account and locate the ‘Funding’ or ‘Deposit’ section.
  • Choose ‘Bank Wire’ as your preferred deposit method.
  • Get the banking information from FP Markets for the bank wire transfer.
  • Initiate a bank wire transfer from your bank using the details provided by FP Markets.
  • Retaining a copy of the transfer receipt or confirmation is important for your personal records and potential verification purposes.

 

How to Deposit using Credit or Debit Card Step by Step

  • Please navigate to your FP Markets account and locate the deposit section.
  • Select ‘Credit or Debit Card’ from the available deposit methods.
  • Provide your card information, including the card number, expiration date, CVV code, and deposit amount.
  • Please confirm the transaction. You might need to go through a verification process with your bank.

 

How to Deposit using Cryptocurrency Step by Step

  • To deposit in your FP Markets account, locate the deposit option and choose ‘Cryptocurrency.’
  • Select the cryptocurrency you want to deposit.
  • FP Markets will provide a unique wallet address for the deposit.
  • Use your personal crypto wallet to transfer the funds to the designated FP Markets wallet address using the address FP Markets provided.

 

How to Deposit using e-Wallets or Payment Gateways Step by Step

  • Access your FP Markets account and navigate to the deposit section.
  • Choose an e-wallet or payment gateway such as Skrill, Neteller, Pagsmile, or Rapyd.
  • You will be directed to the page of the e-Wallet or payment gateway where you can log in and verify the payment.
  • Provide the desired deposit amount and confirm the transaction.

 

FP Markets Withdrawals

How to Withdraw using Bank Wire Step by Step

  • To access your FP Markets account, simply navigate to the ‘Withdrawal’ section.
  • Consider selecting ‘Bank Wire’ as your preferred withdrawal method.
  • Provide your bank account information, including your name, number, and bank SWIFT code.
  • Enter the amount you would like to withdraw in the required field.
  • Submit your request to FP Markets.

 

How to Withdraw using Credit or Debit Cards Step by Step

  • Visit the withdrawal section in your FP Markets account.
  • Choose the ‘Credit or Debit Card’ option for your withdrawal.
  • Select the card you used for a deposit or enter the details of a new card.
  • Please provide the amount you would like to withdraw.
  • Submit your withdrawal request for processing.

 

How to Withdraw using Cryptocurrency Step by Step

  • To access the withdrawal section of your FP Markets account, simply choose ‘Cryptocurrency.’
  • Select the cryptocurrency you wish to withdraw to.
  • Provide your personal wallet address for the cryptocurrency.
  • Enter the amount you want to withdraw.
  • Confirm the transaction and submit the withdrawal request.

 

How to Withdraw using e-Wallets or Payment Gateways Step by Step

  • Find your way to your FP Markets account’s ‘Withdrawal’ section.
  • Choose the e-wallet or payment gateway that suits you best.
  • You may need to log into your e-wallet or payment gateway account to confirm the withdrawal.
  • Enter the amount you would like to withdraw and proceed with the transaction.

 

Can Colombian traders fund their accounts at FP Markets with COP?

Not only if they use Rapyd or Pagsmile as a payment method, but they will also be able to use COP.

 

If I want to deposit funds via crypto, how will I know where to send it to reflect in my FP Markets account?

FP Markets will provide you with a transfer address during your deposit process.

Min Deposit

USD 100

Regulators

ASIC, CySEC, FSCA, CMA

Trading Desk

MT4, MT5, Iress Trader, cTrader

Crypto

Yes

Total Pairs

70

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

FP Markets Education and Research

 

FP Markets Education

 

Live Support

FP Markets’ dedication to Colombian traders is remarkable, and their live help is second to none.

 

We find it clear that this resource is designed to meet the unique requirements of Colombian traders, offering prompt responses to any questions they have about trading. This gives traders peace of mind, as they can always get assistance when they need it while they navigate the difficult market.

 

Forex Calculator

The Forex Calculator from FP Markets was an outstanding resource for us. Created specifically for Colombian traders, this application gives them all the data they need to make smart choices.

 

The Forex Calculator helps traders enhance their trading methods and successfully manage risk by calculating pip value and predicting possible profit or loss.

 

FAQ

We are quite impressed by the thoroughness and accessibility of FP Markets’ FAQ area. This comprehensive guide to trading, account administration, and platform features was created with Colombian traders in mind.

Traders can traverse the markets with confidence and clarity because of its user-friendly style, which gives them quick and simple access to crucial data.

 

Technical Analysis

FP Markets’ powerful technical analysis tools allow Colombian traders to confidently and accurately assess market patterns, which left a lasting impression on us.

 

These tools provide invaluable information that improves traders’ decision-making abilities, from detecting trading opportunities to comprehending price changes. In our opinion, these tools are crucial for successfully navigating the ever-changing financial markets.

 

Economic Calendar

Timely economic forecasts are essential for Colombian traders, and FP Markets’ Economic Calendar is a standout tool for this purpose.

 

To prepare for potential market volatility, traders can use this tool, which gives them access to important economic events and data. Therefore, thanks to this tool’s comprehensive coverage, traders are always well-informed about the underlying elements impacting market patterns.

 

VPS

We’ve had an outstanding experience with the Virtual Private Server (VPS) hosting with FP Markets. This resource provides dependability, security, and smooth connectivity for automated trading operations; it was designed to fulfill the demands of traders in Colombia.

Traders can easily execute transactions with confidence and precision because of its low latency, which guarantees optimal performance.

 

MAM/PAMM

The MAM/PAMM solutions offered by FP Markets can be a lifesaver for Colombian traders juggling several trading accounts.

 

Whether you’re a portfolio manager or a trader with diverse assets, these tools make risk management and trade allocation easier and more flexible. We consider these accounts and options essential when it comes to improving trading operations.

 

AutoChartist

We truly appreciate how FP Markets integrated with AutoChartist, a platform that gives Colombian traders access to cutting-edge technical analysis and pattern detection technologies.

 

Using this resource, traders can understand market trends and volatility better, which in turn helps them find trading opportunities. We believe AutoChartist is a great tool for traders who want to maximize their trading opportunities.

 

Trading Central

Thanks to FP Markets’ partnership with Trading Central, Colombian traders may now access in-depth technical analysis and professional research, enhancing their trading journey with valuable market knowledge and practical insights.

 

 This resource provides traders with the knowledge they want to keep ahead of market trends and make educated decisions, from thorough research reports to price projections and trading signals.

 

Trading Knowledge

The wealth and depth of instructional materials accessible to Colombian traders astounded us during our investigation of FP Markets’ trading knowledge resources.

 

Trading, technical analysis, and risk management are just a few topics covered in these articles, tutorials, and webinars. Furthermore, FP Markets’ insights are extremely valuable, allowing Colombian traders to hone their craft and confidently traverse markets.

 

Fundamental Analysis

The fundamental research tools provided by FP Markets provide Colombian traders with a full set of instruments for assessing economic data and market events.

 

This resource is created to help traders make decisions based on basic variables by giving them insights into the larger economic environment. We think they are indispensable when it comes to keeping up with the ever-changing dynamics of the market.

 

Traders Hub Blog

FP Markets’ Traders Hub Blog stands out as a helpful resource for Colombian traders looking for instructional and interesting articles on trading subjects.

 

This site provides traders with much information, including market analysis, trading tactics, and current trends.

 

Trader’s Hub

The Trader’s Hub at FP Markets is an excellent site that provides Colombian traders with many tools and comprehensive information; while reviewing FP Markets, we’ve had nothing but an immersive and dynamic experience with the Hub.

 

This one location offers everything traders require, including market research, trading alerts, and instructional resources. Furthermore, its social trading feature fosters collaboration and knowledge sharing among traders, creating a vibrant and supportive trading community.

 

How will I know about any important happenings that could influence my profits or losses in trading with FP Markets?

Keep a close eye on FP Markets’ Economic Calendar; you will know beforehand what events or happenings could influence your trading.

 

Do Colombian traders have access to eBooks when they trade with FP Markets?

Yes, Colombian traders can access eBooks on the FP Markets website if they are signed-up clients.

FP Markets Bonuses and Promotions

 

Colombians cannot bargain for reward contests, trade incentives, or welcome offers from FP Markets. Still, once signed up, they can become affiliates and benefit from a significant cashback rebate scheme when bringing in new customers.

 

The program’s primary benefits are the $200 CPA commission and the $1.25 lot trade reimbursement. Colombian affiliates use a customized platform to track performance and refunds.

 

Introducing Brokers (IBs) benefit the most from the program’s guaranteed fast commission payments, which increase client trading activity. The program also provides affiliates with various marketing tools and resources to attract new customers.

 

When I sign up with FP Markets, can I bargain on some bonus funds?

No, FP Markets does not pay beginners welcome bonuses or any other bonus.

 

Is it worthwhile to take all the trouble to become an Introducing Broker (IB) with FP Markets?

Yes, it can be worthwhile, as you can earn a commission when you introduce a new client, sign up, and deposit funds.

FP Markets Affiliate Programs

 

FP Markets Affiliate Program

 

FP Markets affiliates in Colombia can expect a variety of promotional tools. The following are the program’s main features:

 

How to Register an Affiliate Account with FP Markets Step-by-Step.

Colombians who want to partner with this broker can follow these easy steps to register and start reaping the rewards:

 

👉Step 1 – Select the Partner Option

Access the official website of FP Markets and navigate to the “Partners” section from the homepage.

 

FP Markets Step 1 - Select the Partner Option

 

👉Step 2 – Select Join Now

Take your time reading over the information offered about the program. If you’re happy with what’s being offered, find and click on the “Join Now” banner on the affiliate website. This starts the registration procedure.

 

FP Markets Step 2 - Select Join Now

 

👉Step 3 – Complete Registration

Complete the registration form comprehensively by providing personal, contact, professional, and other information. Attach any relevant documentation for identity verification when completing the registration process. Before proceeding, thoroughly study and accept the terms and conditions of the FP Markets affiliate program. After submitting the registration form, wait for an email confirmation from FP Markets.

 

Step 3 - FP Markets Complete Registration

 

How do you become an Affiliate of FP Markets?

Visit the “partners” section on the FP Markets homepage and follow the directions to register as an affiliate.

 

What do you need to become an affiliate and promote FP Markets?

You need an opportunity to market the broker to potential clients, like some kind of social media or marketing platform for your marketing strategy.

FP Markets Customer Support

 

Customer Support FP Markets

 

Customer Support

📞Customer Support🗣️Customer Support
⏰Operating Hours24/7
🗣️Support LanguagesMultilingual
🗨️Live ChatYes
📧Email AddressYes
📞Telephonic SupportYes
🌟The overall quality of Support4/5

 

Response Time

Support ChannelAverage Response TimeUser-based Response Time
📞Phone5 minutes2 – 3 minutes
📧Email24 hoursSame day
🗨️Live Chat2 – 5 minutes5 minutes
#️⃣Social Media5 – 10 minutes5 minutes
🗣️Affiliate24 – 48 hours24 hours

 

Can Colombian traders contact FP Markets Customer Support easily without expensive phone calls?

Yes, they can contact FP Markets via email, social media, or a Live Chat option on their platform.

 

Can I contact FP Markets over weekends?

Yes, FP Markets support teams are available 24/7.

FP Markets Social Responsibility

 

FP Markets Social Responsibility

 

FP Markets does not indicate any CSR initiatives or projects on its website.

Conclusion

We conclude that FP Markets is an excellent FX and CFD broker for Colombian traders due to its wide range of offerings and favorable trading conditions. This broker is regulated by ASIC and CySEC, which ensures fund security and trade integrity.

 

Our findings indicate that Colombian traders can trade FX pairs, indices, commodities, and cryptocurrencies on MetaTrader 4, MetaTrader 5, and IRESS.

 

According to the website, FP Markets provides instructional resources and multilingual client support to help create a conducive trading environment.

 

FP Markets can improve its Colombian products despite its other strengths. Traders may face challenges due to a lack of local currency accounts and payment options.

 

Despite FP Markets’ low spreads and commissions, traders must consider withdrawal and currency conversion costs. Despite its shortcomings, FP Markets is a solid and comprehensive trading platform that Colombian traders should consider.

FP Markets User Comments and Reviews

  • “The tightest spread ever, with no order manipulation or spills, and free analytical tools!”

 

  • “Customer service was patient, attentive, helpful, and concerned with providing excellent service. I appreciated their service and have never received such personalized and exclusive treatment from any other brokerage.”

 

  • “One of the best and most regulated brokers I have ever used is FP Markets. I like the broker because they provide instant deposits and withdrawals.”

 

  • “Every aspect of FP Markets is professional: platform, app, security, EU compliance, services, etc. Introducing friends earns you money!”

 

Our Recommendations on FP Markets

  • Despite its numerous advantages, we believe that FP Markets could improve in some areas. Our review recommends the following improvements:

 

  • Consider local regulatory compliance and cooperation in more countries to boost trade trust and security.

 

  • Including deposit and withdrawal mechanisms that support lesser-known currencies will facilitate funding, including for traders in Colombia.

 

Our Insight

They offer such products as currency pairs, stocks, commodities, or even cryptocurrencies. FP Markets has a strong reputation for user-friendly platforms, competitive fees, and a wide range of tradable assets. Also highly rated are its educational resources and research tools.

FP Markets Pros & Cons

✅Pros ❌Cons
There is a comprehensive suite of educational materials for Colombian beginnersDate fees can be expensive on the IRESS platform
FP Markets’ spreads are razor-thin, starting from 0.0 pipsThere might be a steep learning curve for new traders on the IRESS platform
Colombians can register a demo account with FP MarketsFP Markets is not locally regulated in Colombia

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Frequently Asked Questions

 

Can one trust FP Markets as a trusted broker?

Yes, FP Markets adheres to strict financial standards set by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).

 

What is the minimum deposit I need to join the FP market?

The minimum deposit to open an account with FP Markets is 257,691 COP (AU$100)

 

How long must I wait for the money I withdraw from my FP Markets account?

On average, you should not wait longer than a few business days. Withdrawal depends on the methods; for example, Bank wire transfers take up to five business days. Credit/debit cards and Neteller take only one business day.

 

Where are FP Markets’ headquarters?

FP Markets has its headquarters in Sydney, Australia.

 

Can I use scalping when trading with FP Markets?

Yes, you can use scalping when trading with FP Markets.

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