fpmarkets

Overview of fpmarkets

fpmarkets, headquartered in Cyprus, has been serving traders for 2-5 years with regulatory compliance. Regulated by CYSEC, the company ensures adherence to industry standards.

With support for 12 cryptocurrencies, fpmarkets offers trading options to its clients. Traders can conveniently manage their funds through various deposit and withdrawal methods, including credit cards, debit cards, payment wallets, online banking, and bank wire transfers.

Moreover, the company prioritizes customer support, offering multiple channels for assistance, such as email, phone, and live chat, ensuring traders receive prompt and personalized support whenever needed.

Pros and cons

Pros:

Regulated by CYSEC: fpmarkets being regulated by CYSEC ensures that the company adheres to stringent regulatory standards, providing traders with a secure and reliable trading environment. This regulatory oversight instills confidence among traders regarding the safety of their funds and the fairness of trading practices.

Multiple Deposit/Withdrawal Methods: fpmarkets offers traders a variety of deposit and withdrawal methods, including credit cards, debit cards, payment wallets, online banking, and bank wire transfers. This diversity of payment options provides flexibility and convenience for traders to manage their funds efficiently.

Different Customer Support Options: The company offers multiple channels for customer support, including email, phone, and live chat. This ensures that traders have various avenues to seek assistance and resolve issues promptly, enhancing the overall trading experience.

Cons:

Limited Supported Cryptocurrencies: While fpmarkets supports 12 cryptocurrencies, this may be considered limited compared to other brokers in the market. Traders looking for a broader selection of cryptocurrencies may find the options provided by fpmarkets to be insufficient.

Relatively Short Operating History: With a founding year of 2-5 years, fpmarkets may be perceived as having a relatively short operating history compared to some other established brokers.

Potential Geographic Limitations: The company's headquarters in Cyprus may pose potential geographic limitations for traders in certain regions. Traders outside of Cyprus may encounter regulatory or operational constraints that could affect their trading experience with fpmarkets.

Regulatory Authority

fpmarkets is regulated by the Cyprus Securities and Exchange Commission (CYSEC). The company holds the Investment Advisory license with license number 371/18. This indicates that fpmarkets is a regulated virtual currency exchange, ensuring that it operates by the regulations set by CYSEC. The regulation status of fpmarkets is “Regulated”, implying that it meets the requirements and standards set by the regulatory agency.

The specific license type held by fpmarkets is the Investment Advisory License. This license allows the company to provide investment advice and execute trades on behalf of its clients. The license name of fpmarkets is First Prudential Markets Ltd, indicating the legal entity through which the company operates.

Trading Market

At fpmarkets, traders can access a wide range of trading instruments across various asset classes.

Forex CFDs: fpmarkets offers over 60 currency pairs for trading on the popular MetaTrader 4 (MT4) platform. Traders can speculate on the price movements of major, minor, and exotic currency pairs.

Shares CFDs: With fpmarkets, traders can access over 650 stocks from global exchanges, allowing them to trade CFDs on a range of companies across different industries and sectors.

Indices CFDs: fpmarkets provides access to CFDs on 9 major and 6 non-major global indices. Traders can trade on the price movements of key stock market indices from around the world.

Commodities CFDs: fpmarkets offers CFDs on a variety of commodities including coffee, natural gas, corn, and more. Traders can speculate on the price movements of these commodities without owning the underlying assets.

Metals CFDs: Traders can trade CFDs on precious metals such as gold, silver, and oil with fpmarkets. These instruments provide opportunities to profit from changes in the prices of these valuable commodities.

Crypto CFDs: fpmarkets offers CFDs on popular cryptocurrencies including Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, and more. Traders can take advantage of the volatility in the cryptocurrency markets without needing to own the actual digital assets.

ETF CFDs: fpmarkets provides access to over 200 ETF CFDs, allowing traders to invest in a range of exchange-traded funds covering various sectors, industries, and regions.

Services

fpmarkets offers traders a range of powerful trading platforms and tools for their varying needs.

MetaTrader 4 (MT4): MetaTrader 4 is renowned for its user-friendly interface and advanced charting tools. Traders benefit from a comprehensive array of technical indicators, analytical tools, and customizable charting features, facilitating in-depth market analysis. MT4 also supports automated trading through Expert Advisors (EAs), enabling traders to execute trades based on predefined strategies. With access to over 60 currency pairs and other instruments like commodities, indices, and cryptocurrencies, MT4 remains a popular choice among traders.

MetaTrader 5 (MT5): MetaTrader 5 is the successor to MT4, offering enhanced features and capabilities. Traders gain access to a broader range of financial instruments, including more than 60 currency pairs, stocks, indices, commodities, and cryptocurrencies. MT5 provides improved charting tools, additional timeframes, and advanced order types, empowering traders to execute sophisticated trading strategies. Like MT4, MT5 supports automated trading and facilitates backtesting to optimize trading performance.

WebTrader: fpmarkets' WebTrader platform offers traders flexibility by enabling access to their accounts and trading from any web browser. Without the need for downloading or installing software, traders can conveniently manage their positions, analyze markets, and execute trades. WebTrader features a user-friendly interface, real-time quotes, interactive charts, and one-click trading functionality, making it an ideal solution for traders seeking a web-based trading platform.

Traders Toolbox: Traders Toolbox is a comprehensive suite of trading tools and resources designed to enhance traders' decision-making and performance. It encompasses various trading indicators, market sentiment analysis tools, economic calendars, and trading calculators to identify opportunities and manage risk effectively. Additionally, Traders Toolbox offers educational resources such as trading guides, webinars, and tutorials, supporting traders at all skill levels in their trading journey.

Forex Calculator: The Forex Calculator helps traders manage their risk by providing insights into the potential profit and loss for each trade. By adjusting parameters such as stop loss and take profit levels, traders can assess the risk-reward ratio before entering a trade.

fpmarkets APP

fpmarkets provides a mobile app available for both iOS and Android devices, offering users the flexibility to trade on the go.

To download the app, simply visit the App Store for iOS devices or the Google Play Store for Android devices and search for “fpmarkets.” Once installed, users can log in with their existing fpmarkets credentials or create a new account directly from the app.

The main difference between the mobile app and the website lies in their accessibility and interface. While the website offers a comprehensive trading experience with advanced features and tools, the mobile app is designed for convenience and allows traders to monitor their accounts, execute trades, and access essential market information from anywhere at any time, using their smartphones or tablets.

Cryptocurrencies available

fpmarkets offers a selection of popular cryptocurrencies for trading, allowing traders to access a range of digital assets.

These include well-known options such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP), as well as newer entrants like Cardano (ADA), Bitcoin Cash (BCH), Dogecoin (DOGE), Polkadot (DOT), EOS, Chainlink (LINK), Solana (SOL), and Stellar (XLM). Each cryptocurrency is paired against the US Dollar (USD), enabling traders to engage in a variety of trading strategies and investment opportunities.

How to open an account？

The registration process of fpmarkets typically involves the following steps:

1. Visit the fpmarkets website and click on the “OPEN LIVE” button.

2. Fill out the registration form by providing your personal information, such as your full name, email address, and phone number.

3. Create a username and password for your account, ensuring that it meets the specified security requirements.

4. Agree to the terms and conditions of fpmarkets by carefully reading and accepting them.

5. Complete any additional verification steps, such as providing identification documents for KYC (Know Your Customer) purposes.

6. Once your registration is complete, you will receive a confirmation email with further instructions on how to access your trading account.

It is important to note that the registration process may vary depending on the jurisdiction and regulatory requirements, so it is recommended to refer to the specific guidelines provided by fpmarkets during the registration process.

Deposit & Withdrawal

Deposit

There are various deposit methods available, including Credit & Debit Card, PayPal, Bank Transfer, Neteller, Skrill, Sofort, and giropay. Each method offers instant funding, with the minimum deposit requirement being 50 USD/EUR/GBP for most methods, and 50 EUR/GBP for Sofort and giropay. Additionally, there are no deposit fees associated with any of the deposit methods offered by fpmarkets.

Withdrawal

fpmarkets offers a variety of withdrawal methods, each with its own set of conditions.

For Credit & Debit Card withdrawals, the minimum amount is 5 USD/EUR/GBP, with no withdrawal fees, although the processing time can vary from 2 to 10 business days depending on the corresponding bank.

PayPal withdrawals also have a minimum of 5 USD/EUR/GBP, with no fees, and are typically processed within 1 business day.

Bank Transfers require a higher minimum withdrawal of 100 USD/EUR/GBP but have no associated fees. However, the processing time ranges from 1 to 3 business days, contingent upon the receipt of all necessary documents.

Neteller withdrawals have the same minimum as Credit & Debit Card withdrawals and incur a withdrawal fee of 1% capped at 30 USD, with a processing time of 1 business day.

Skrill withdrawals have no minimum amount, but there is a withdrawal fee of 1% plus country-specific fees, processed within 1 business day.

Sofort and giropay withdrawals both have a minimum withdrawal requirement of 5 EUR/GBP, with no fees, and are typically processed within 1 business day.

Educational Resources

Video Tutorials: fpmarkets provides a comprehensive library of video tutorials designed for traders of all experience levels. These tutorials cover a wide range of topics including fundamental and technical analysis, trading strategies, risk management, platform tutorials, and market insights. Through engaging and informative videos, traders can acquire practical knowledge and insights into various aspects of trading, empowering them to make more informed decisions in the financial markets.

Trading Glossary: The Trading Glossary offered by fpmarkets serves as a valuable reference tool for traders, providing definitions and explanations of key trading terms and concepts. From basic terminology to more advanced concepts, traders can access a wealth of information to deepen their understanding of the financial markets. Whether it's learning about different order types, technical indicators, or trading strategies, the Trading Glossary offers a comprehensive resource to clarify any trading-related terminology traders may encounter.

Customer Support

fpmarkets prioritizes providing exceptional customer service to assist traders promptly and effectively.

Email Support: Traders can easily connect with fpmarkets' support team via email. For general inquiries and assistance, traders can reach out to the Limassol office at supportdesk@fpmarkets.eu. Additionally, for new enquiries related to account opening or onboarding processes, individuals can direct their queries to onboardingdesk@fpmarkets.eu. Email support offers a convenient platform for detailed communication, allowing traders to address specific concerns or seek information efficiently.

Phone Support: For immediate assistance, traders have the option to contact fpmarkets directly via phone. The Limassol office can be reached at +357 25 056 926. Phone support provides a direct and personalized communication channel, enabling traders to engage with customer service representatives promptly and address any issues or queries they may have in real time.

Live chat: fpmarkets offers live chat support through their website or trading platform. This feature allows traders to engage in real-time conversations with customer service representatives. Live chat offers a quick and convenient way for traders to get instant answers to their questions, resolve issues, or seek assistance without the need for lengthy email exchanges or phone calls.

Callback Request Form: Traders can provide specific details about their inquiry or the assistance they require when filling out the callback request form. This allows customer service representatives to prepare and provide personalized assistance tailored to the trader's needs.

Is fpmarkets a Good Exchange for You？

fpmarkets would be especially suitable for traders who prioritize regulatory compliance and reliability in their trading environment.

fpmarkets appeals to a range of traders, including beginners, intermediate traders, and experienced professionals. Here are some target groups that may find fpmarkets suitable:

1. Beginner Traders: fpmarkets offers user-friendly and reliable trading platforms, along with educational resources such as trading guides, video tutorials, and webinars. These resources can be extremely helpful for those who are new to trading and looking to learn and develop their trading skills. Additionally, the availability of customer support can provide beginners with assistance and guidance when needed.

2. Intermediate Traders: fpmarkets provides advanced charting tools and analytical features that can support intermediate traders in conducting thorough market analysis and making informed trading decisions. These tools allow traders to analyze price fluctuations, identify trends, and implement various trading strategies. The range of cryptocurrencies and other financial instruments offered by fpmarkets can also provide intermediate traders with opportunities for portfolio diversification.

3. Professional Traders: fpmarkets understands the needs of professional traders and aims to provide them with a reliable and secure trading environment. The regulation status of the exchange ensures that professional traders can trade with the confidence that their funds and personal information are protected. The tiered fee structure and competitive trading fees make fpmarkets a viable option for professional traders who engage in high-volume trading.

4. Global Traders: fpmarkets appeals a global audience and may provide customer support in multiple languages. This makes it accessible to traders from different regions around the world. Additionally, the availability of various deposit and withdrawal methods can accommodate the needs of global traders, allowing them to conveniently fund their trading accounts and make withdrawals.

Conclusion

In summary, fpmarkets is a regulated brokerage that prioritizes trader security and reliability. While it offers deposit methods and multiple customer support options, traders should note the limited cryptocurrency selection and the company's shorter operating history.

Overall, fpmarkets remains a solid choice for traders seeking regulatory compliance and robust support services, but it's essential to consider individual trading needs before making a decision.

FAQs

Q: How can I get in touch with a representative？

A: Multilingual customer support team is available 24/7^ via email, live chat or phone. You can also fill out the Callback Request Form at https://www.fpmarkets.eu/faq/call-back.

Q: Which account types do you provide？

A: fpmarkets offers both Raw and Standard accounts on MT4 and MT5 platforms.

Q: How do I close my trading account or my entire fpmarkets profile？

A: To close your trading account and/or profile, please email the Onboarding department at: onboardingdesk@fpmarkets.eu.

Q: When I try to install the platform it asks me for ‘Proxy Server’ details, what should I do？

A: A proxy server is an intermediate between the trader's computer and the trading server. It is mostly used by internet providers or by local networks. If a connection problem occurs, you should turn to your systems administrator or the internet provider.

Q: What leverage do you offer？

A: fpmarket offers leverage up to 1:30 for Retail Clients and up to 1:500 for Professional Clients, depending on the instrument you are trading.

User Review

User Review 1: “I've been trading with fpmarkets for a few months now, and overall, I've had a positive experience. The platform is easy to navigate, and execution speeds are good. I appreciate the variety of deposit options available, which makes managing funds convenient. Customer support has been helpful whenever I've had questions or issues. However, I wish they offered more cryptocurrencies for trading.”

User Review 2: “I recently started trading with fpmarkets, and so far, it's been a decent experience. The platform is user-friendly, and I've found the educational resources helpful for improving my trading skills. Customer support has been responsive, which I appreciate. However, I've noticed some slippage during high volatility periods, which can be frustrating. Overall, I'm satisfied with fpmarkets, but there's room for improvement.”

Risk Warning

There are inherent security risks associated with investing in cryptocurrency exchanges. It is important to understand these risks before making such investments. Cryptocurrency exchanges are vulnerable to hacking, fraud, and technical glitches, which can lead to the loss of funds.

It is recommended to choose a reputable and regulated exchange, keep abreast of security measures, and be vigilant in detecting and reporting any suspicious activity. Please ensure that you understand the risks involved and note that the information contained in this article is for general information only.