Best FP Markets Alternatives

logomark Luca Puddu calendar Last Updated: November 2021 timer 5 min read
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FP Markets is a renowned forex broker with over 14 years in the financial market, and offers trading on MT4, MT5, and Iress platforms for its ardent customers.

FP Markets also has a stellar customer service support system that provides services in different languages. The MetaTrader platform allows about 130 tradable symbols, whereas the Iress platform offers an extensive range of CFDs, 12 indices, 61 forex pairs, five cryptocurrencies, and three commodities.

Although this article is a summary, here is our detailed FP Markets review with detailed information about the broker and why we consider it is worth using for your trading activities. However, if you are looking for FP Markets alternatives, here are 10 brokers that can provide quality services as FP Markets.

WARNING

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money

FP Markets alternatives Alternative for Minimum Deposit
AvaTrade Fixed spreads, Spread Betting account $100
XTB Low spread, No minimum deposit $0
eToro Real Crypto&Stocks trading, Unlimited demo account $200
IG Markets Total number of assets, Unlimited demo account $250
HotForex Low Spread, Unlimited demo account $5
Trading 212 Real Stocks&ETFs trading $1
Degiro Real Stocks&ETFs trading $0.01
Naga Trader Real Crypto&Stocks trading, Social-copy trading $0
Darwinex Copy trading, Low Spread $500
IC Markets Low spreads, Scalping, Unlimited demo account $0
Table of contents

FP Markets Low Spread Alternatives

FP Markets offers competitive spreads on different trading instruments. For instance, it’s spread for major currency pairs such as EUR/USD and GBP/USD starts from 0 pips, with an average of 0.09 for its raw account. However, spreads for its standard account start from 1.19. Nevertheless, the spread for FTSE 100 and indices is quite competitive, with spreads starting from 0.31 for both raw and standard accounts.

It also has an average spread of 0.13 pips for gold, whereas silver is around 0.01. In comparison with Pepperstone and IG, FP Markets offers a competitive spread in the market. However, the Standard MetaTrader account comes with an inbuilt fee for the spread. If you are looking for the best spread broker, here is a link to the top 10 lowest spread forex brokers.

WARNING

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money

Broker Minimum Deposit Avg Spread EUR/USD
XTB $0 0.9 pips
IG Markets $250 0.6 pips
HotForex $5 0.1 pips
Darwinex $500 0.3 pips
IC Markets $0 0.1 pips

FP Markets Copy Trading Alternatives

FP Markets offers copy trading services. The social trading feature allows traders to copy what other traders trade. It allows traders to modify how they want to copy any person’s trade. Furthermore, it also has a copy-trading service that directly allows clients to copy different systems to their FP Markets MetaTrader account.

Furthermore, there are other brokers that offer copy trading alternatives. Here is a list of the top 10 copy trading best platforms in the industry.

WARNING

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money

Broker Minimum Deposit Copy Trading Platform
AvaTrade $100 DupliTrade, ZuluTrade
eToro $200 Webtrader
HotForex $5 Webtrader
Naga Trader $0 Webtrader
Darwinex $500 Webtrader
IC Markets $0 ZuluTrade

FP Markets Stock Trading Alternatives

FP Markets offers different alternatives when choosing to trade shares and stocks. The standard account allows traders to trade stock using a minimum deposit of $100 with a spread that starts from 1.0 pips.

However, the ECN RAW account offers stock traders a spread that starts with 0.0 pips and a minimum deposit of $100. In addition, it provides the MT4 and MT4 platforms for stock trading accounts, whereas it uses the IRESS platform for share trading. Other alternatives to FP Markets stock trading include:

WARNING

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money

Broker Real Shares Number of Shares Commissions from
eToro Yes More than 950 Free
IG Markets No More than 12.000 From $3
Trading 212 Yes More than 3000 Free
Degiro Yes More than 50 stock exchange Free

Choosing a FP Markets alternatives: main perks and characteristics

FP Markets provide an excellent trading platform for traders; it remains one of the best DMA and ECN/STP brokers in the industry that offers raw spreads and a choice to choose DMA or ECN accounts. Additionally, it offers a highly competitive spread globally with as low as 0.0 pips and a commission fee that starts from $3.

The Iress and MetaTrader platform are suitable for all traders – beginners or experts. Interestingly, there is a substantial choice of futures, equity CFDs, forex, and cryptocurrencies. In addition, the Iress platform allows Australian stock traders to trade over 10,000 shares.

Furthermore, it offers an unlimited demo account for new traders where they can hone and perfect their strategy. Interestingly, the account is available for both customers and non-customers. However, to trade live, you need a minimum deposit of $100 to enjoy the benefits of its other features.

Forex traders have access to over 50 forex pairs with a competitive spread. Additionally, you can take advantage of its scalping feature, algo-trading, and VPS usage. For new traders, the scalping feature seems to be enticing as they can take little profits from multiple traders.

FP Markets also provides a copy trading feature that enables traders to copy trades from other traders. The feature is facilitated by a third-party platform but regulated by FP Markets. There are so many features about FP Markets, but you can take a look at our detailed FP Markets review to see other enticing features.

What is FP Markets missing?

While FP Markets provide excellent services and features, we discovered certain features that are missing for any top forex broker. You can also check the list of the top best forex brokers to know our review of the world’s best brokers.

Nevertheless, here are a few things we consider FP Markets is missing in the financial industry.

  • FP Markets isn’t available for traders in the USA
  • The broker doesn’t have FCA regulation
  • FP Markets does not offer a cTrader trading platform
  • It lacks spread betting
  • It doesn’t offer fixed spreads

FP Markets alternatives comparison

Before choosing a broker, you might want to consider the different features they offer. In this section, we compare FP Markets with its competitors in the financial industry.

WARNING

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money

Feature Min. Deposit Proprietary Platform Fixed Spread Execution Real assets
FP Markets $100 No No ECN/STP/DMA Yes (Australia only)
AvaTrade $100 Yes Yes Market Maker No
XTB $0 Yes No DMA No
eToro $200 Yes No STP Yes
IG Markets $250 Yes No Market Maker No
HotForex $5 Yes No ECN/STP No
Trading 212 $1 Yes Yes Market Maker Yes
Degiro $0.01 Yes No ECN Yes
Naga Trader $0 Yes No Market Maker Yes
Darwinex $500 Yes No NDD No
IC Markets $0 No No ECN No

FP Markets alternatives FAQ

What is FP Markets’s best alternative?

AvaTrade is the best alternative to FP Markets. Let’s look at the specifics, HotForex and IC Markets are best for low spreads, while eToro is best for social-copy trading. Degiro and Trading 212 are best options for trading stocks.

Is FP Markets a good broker?

Yes, FP Markets are very well-regulated and highly compliant. They are regulated by ASIC in Australia, by CySEC in Europe where they follow ESMA/MifiD laws completely, and also in St. Vincent and the Grenadines for other international traders.


About the Author

Luca Puddu

Broker Expert

Always full of different interests, Luca started to get interested in the field of personal finance in 2014.

His self-taught studies led him year by year to become increasingly interested in the investment field.

To date, Luca actively invests in the stock market and cryptocurrencies, focusing on rising markets and the industries of the future.

His main role at InvestinGoal.com is to analyze and study in the smallest detail the brokers and their platforms, while checking carefully that the information shown by them is genuine.

In this way, he provides readers with a complete and truthful overview of the broker they might be interested in.


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