The Broker FPMarkets in a Few Words  

FP Markets is a well-established broker with a good reputation in the financial industry. They offer a wide range of financial instruments for trading, including stocks, futures, options, and more. Their platform is sophisticated and designed to provide traders with all the tools and resources they need to be successful.

One of the main advantages of FP Markets is their competitive commission structure. They offer some of the lowest commission rates in the industry, with rates as low as $6 per 100,000 USD traded. This is lower than many of their competitors, who often charge around $7 per 100,000 USD traded.

Overall, FP Markets is a reliable and reputable broker that is well worth considering for traders looking for a high-quality platform and competitive pricing.

Type of accounts and Offering

FP Markets offers its users two main types of accounts: the Standard Account and the Raw Account. The main difference between the two is how fees are charged for trading. The Standard Account includes all costs in the form of a markup on the spreads, while the Raw Account charges a standard commission for each transaction. In addition to more than 60 FX pairs, FP Markets also offers a range of other financial instruments, including precious metals, indices, and commodities, providing diverse trading options for its users.

For this review, we will focus on the Raw Account offered by FP Markets. This account is often the most competitive option that Forex brokers offer, so it is worth taking a closer look at its features and benefits. The Raw Account at FP Markets is known for its low commissions and spreads, making it an attractive choice for traders looking to minimize their trading costs and maximize their profits. In addition to its competitive pricing, the Raw Account also offers a range of advanced trading tools and features, making it suitable for both beginner and experienced traders. Overall, the Raw Account at FP Markets is a strong option for those looking to trade Forex, precious metals, indices, and other financial instruments cost-effectively and efficiently.

Available Platforms and Learning material

FP Markets offers a wide range of platforms to suit the needs and preferences of different traders. FP Markets offers two of the most popular platforms, the MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are widely used by traders worldwide and are known for their user-friendly interface, advanced charting and technical analysis tools, and a range of customizable features. In addition to the MT4 and MT5 platforms, FP Markets also offers the IRESS platform for stock trading. This platform is known for its sophistication and advanced capabilities, making it suitable for professional traders and investors. FP Markets also offers a mobile app for traders on the go that allows users to access their accounts and trade from anywhere with an internet connection. Overall, the range of platforms offered by FP Markets means that there is something for everyone, whether you are a beginner or an experienced trader.

Cost of Trading

The cost of trading can include various fees, including commissions, spreads, and swap charges. The commission is a fee that is paid for each transaction, and it is typically the most transparent fee associated with trading. However, other hidden costs may be more expensive than the stated commission. Spreads and swap charges are two examples of hidden fees that can add up quickly and increase the overall cost of trading. Spreads refer to the difference between a security’s bid and ask price, which can impact a trade’s profitability. Swap charges are fees applied to positions held overnight and can significantly impact a trade’s profitability. Traders need to understand how these fees work and how to minimize their impact to maximize their profitability.

Please find below a comparison of the FPmarkers RAW account’s cost of trading with other brokers:

FP Markets stands out among other brokers due to its meager commission, tight spreads, and well-balanced swap charges. These factors make it one of the most highly recommended brokers for traders, and at the time of writing this review, it is the cheapest reputable retail broker for trading XAUUSD. Its competitive pricing and excellent trading conditions make it a standout choice for traders looking to maximize their profits.