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Do you want to know which is the better broker between Octa and FP Markets ?
In the table below, you can compare the features of Octa , FP Markets side by side to determine the best fit for your needs.
EURUSD: -0.3
XAUUSD: 1.7
Long: -5.88
Short: 2.51
Long: -35.22
Short: 20.75
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of octafx, fp-markets lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Registered in | Cyprus |
Regulated by | CYSEC |
Year(s) of establishment | 2-5 years |
Trading instruments | 28 Currency pairs + 2 metals + 2 energies + 10 indices |
Minimum Initial Deposit | 100 euro |
Maximum Leverage | 1:30 |
Minimum spread | 0.3 pips onwards |
Trading platform | MetaTrader 5 |
Deposit and withdrawal method | VISA, skrill, Swissquote Bank SA, Rietumu Bank, BlueOrange Bank. |
Customer Service | Email, address, live chat |
Fraud Complaints Exposure | Yes |
Negative balance protection | Yes |
It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
Pros:
Wide range of trading instruments available, including 28 currency pairs, 2 metals, 2 energies, and 10 indices.
Competitive spreads, starting from as low as 0.3 pips, with zero commission charges.
Convenient and feasible payment methods, with no extra fees charged by the company.
MetaTrader 5 platform available for trading, with a user-friendly interface and a variety of features.
Back office support available from 9:00 to 18:00 EET Monday to Friday, and live chat service also provided for customers.
Regulated by the CYSEC, ensuring a high level of safety and security for clients' funds.
Straightforward and detailed website, making it easy for clients to navigate and find the information they need.
Cons:
Limited educational resources, with only a few calculators available.
No other account types are offered besides the MetaTrader 5 account.
Maximum leverage is relatively low, only up to 1:30.
Limited customer support options, with only email and live chat available.
No physical office or phone support available, which may be inconvenient for some clients.
Limited bonuses or promotions offered compared to other brokers.
No mobile app available for trading, which may be a disadvantage for clients who prefer to trade on-the-go.
Advantages | Disadvantages |
OctaFX offers tight spreads and fast execution due to its Market Making model. | As a counterparty to its clients' trades, OctaFX has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients. |
OctaFX is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, OctaFX acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that OctaFX has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with OctaFX or any other MM broker.
OctaFX is a Cyprus-based forex broker regulated by the CYSEC. The company offers trading in 28 currency pairs, 2 metals, 2 energies, and 10 indices with a maximum leverage of up to 1:30. OctaFX has only one MetaTrader 5 account type with zero commission and a minimum deposit requirement of 100 euros. Deposits and withdrawals are feasible through a variety of payment methods, with no extra fees charged by OctaFX. Customer support is available through email and live chat, and the broker's correspondence address is in Limassol, Cyprus.
In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.
Advantages | Disadvantages |
Wide range of currency pairs and other instruments available for trading | Limited selection of commodities and cryptocurrencies |
Option to trade indices | No individual stock trading available |
Competitive spreads | Limited selection of exotic currency pairs |
Access to trading gold and silver | No access to other precious metals such as platinum or palladium |
OctaFX offers a diverse range of instruments for traders to choose from, including 28 currency pairs, 2 metals, 2 energies, and 10 indices. Traders can access major currency pairs such as EUR/USD and USD/JPY, as well as less commonly traded pairs like USD/TRY and USD/HKD. In addition, OctaFX offers trading in gold and silver, as well as energies such as Brent crude oil and natural gas. Traders can also access indices such as the FTSE 100 and the Nikkei 225. However, OctaFX's instrument selection does have some limitations, such as a limited selection of cryptocurrencies and no individual stock trading available. Overall, the range of instruments offered by OctaFX is competitive, with a strong focus on forex trading.
Advantages | Disadvantages |
No commission fees | Limited account types |
Low spreads for major currency pairs | Higher spreads for minor and exotic pairs |
Detailed information on spreads, SWAPs, and stop levels | No variable spreads |
No hidden fees or charges | Limited transparency on rollover costs |
OctaFX offers a no-commission fee trading model with a single account type, which can be an advantage for traders who prefer simplicity and transparency. The broker offers competitive spreads for major currency pairs, with spreads for EURUSD ranging from 0.4 to 0.5 pips. In addition, OctaFX provides detailed information on spreads, SWAPs, and stop levels for each trading instrument, which can help traders make informed decisions. However, there are some disadvantages to consider, such as higher spreads for minor and exotic currency pairs, limited transparency on rollover costs, and the lack of variable spreads, which may not suit some traders' needs. Overall, the costs and fees of OctaFX are relatively low, and the broker provides transparency and clarity in its pricing structure.
Advantages | Disadvantages |
Only one account type makes it simple and easy to choose and use | Limited options for traders who may want more customization |
Zero commission allows for more cost-effective trading | Potentially limited profit margins for the broker, which could affect service quality |
Low minimum deposit of 100 euro makes trading accessible to more individuals | Some traders may prefer higher deposit requirements for increased credibility and access to more features |
Competitive spreads from 0.3 pips can result in better trading conditions | Spread may widen during news releases and other market events, resulting in increased trading costs |
Regarding the account types dimension, OctaFX offers a single account type using the popular MetaTrader 5 trading platform. This simplicity may appeal to traders looking for an uncomplicated trading experience. Additionally, the absence of commissions and competitive spreads starting from 0.3 pips may result in more cost-effective trading for clients. However, the single account type may not be ideal for traders looking for more customization, and some may prefer higher minimum deposit requirements for increased credibility and access to additional features. It's worth noting that spreads may widen during news releases and other market events, which could result in increased trading costs.
Advantages | Disadvantages |
Advanced Trading Tools | May be overwhelming for beginner traders |
Flexible Trading Options | No mobile or web-based platforms available |
Customizable Interface | Limited access to third-party plugins and add-ons |
Supports Automated Trading | Limited educational resources for platform-specific features |
Access to Market Depth Information | Limited charting tools and technical indicators |
OctaFX offers the popular MetaTrader 5 (MT5) platform as their sole trading platform. MetaTrader 5 is well-known in the forex industry for its advanced trading tools, customizable interface, and support for automated trading. With MetaTrader 5, traders can access flexible trading options, including access to market depth information, as well as a wide range of trading instruments. However, the platform may be overwhelming for beginner traders and it currently lacks mobile or web-based platforms. Additionally, while MetaTrader 5 does offer some charting tools and technical indicators, it may be limited compared to other trading platforms. Finally, there is also a limited number of third-party plugins and add-ons available for the platform, and there are limited educational resources for platform-specific features.
Advantages | Disadvantages |
Allows for potentially larger profits with smaller account balances | Can increase the risk of large losses for inexperienced traders |
Provides flexibility in trading strategies | May lead to overleveraging and margin calls |
Enables traders to take larger positions in the market | Can amplify market volatility and increase the likelihood of slippage |
Can be useful for hedging or risk management purposes |
OctaFX offers a maximum leverage of 1:30, which can provide traders with the opportunity to potentially increase profits with smaller account balances and take larger positions in the market. However, it is important to note that high leverage can also significantly increase the risk of large losses, especially for inexperienced traders who may be more susceptible to overleveraging and margin calls. It is crucial for traders to use leverage wisely and implement proper risk management strategies to mitigate these risks. Additionally, not all trading instruments or account types may offer the maximum leverage, so traders should be aware of the limitations and requirements for each instrument and account type.
Advantages | Disadvantages |
Various payment methods available | Limited payment options |
Detailed information on deposit and withdrawal | No local payment options |
No extra fees charged | Long processing times for some payment methods |
Quick and efficient processing times | High minimum deposit amount of €50 |
Secure payment options | No cryptocurrency payment options |
OctaFX provides a wide range of payment methods, making it convenient for traders to deposit and withdraw funds. They also provide detailed information on the deposit and withdrawal process, which makes it easy for traders to understand the process. Another advantage is that there are no extra fees charged by OctaFX for any payment method. Additionally, the processing times are quick and efficient. However, the payment options are limited, with no local payment options available. Some payment methods may also have long processing times. The minimum deposit amount of €50 is also relatively high compared to some other brokers. Finally, OctaFX doesn't accept cryptocurrency payments, which might be a disadvantage for some traders.
Advantages | Disadvantages |
Basic calculators | Limited educational resources |
Easy to use | No webinars or tutorials available |
Helpful for beginners | No market analysis or trading ideas provided |
OctaFX has a limited selection of educational resources available for its customers, with only basic calculators provided to help with trading. While these tools may be helpful for beginners, the lack of other educational resources such as webinars, tutorials, market analysis, and trading ideas may make it challenging for more experienced traders to improve their skills and stay up-to-date with market trends. The absence of educational articles or eBooks may also be a disadvantage for traders looking to expand their knowledge and gain a deeper understanding of the market. Overall, OctaFX's educational resources are limited and may not be suitable for traders seeking a more comprehensive learning experience.
However, if you're not limited to their website, you can see more educational resources on their official YouTube channel. Here is a video of a market analysis.
Advantages | Disadvantages |
Multiple ways to contact customer support including email and live chat | No 24/7 customer support |
Back office service available during regular business hours | No phone support |
Physical correspondence address provided for customer inquiries | Limited availability on weekends |
OctaFX provides a range of customer care options for its clients, including email support and live chat. They also offer a back office service during regular business hours for additional assistance. A physical correspondence address is also provided for clients to send inquiries. However, OctaFX does not offer 24/7 customer support and phone support is not available. Additionally, their customer support availability is limited on weekends.
In conclusion, OctaFX is a reputable forex broker that provides traders with access to a wide range of trading instruments, including currency pairs, metals, energies, and indices. The company offers a user-friendly MetaTrader 5 platform, low spreads, and no commissions, which makes it an attractive choice for traders. OctaFX also provides a detailed deposit and withdrawal process with a range of feasible payment methods. However, the company's educational resources are limited, and the maximum leverage offered is relatively low compared to some other brokers. Overall, OctaFX is a reliable option for traders who value a simple and straightforward trading experience, with efficient customer support available via email and live chat.
What is OctaFX?
OctaFX is a forex broker that offers online trading services to customers around the world. It is a Cyprus registered company regulated by the CYSEC.
What trading platforms does OctaFX offer?
OctaFX offers the popular MetaTrader 5 trading platform, which is available for desktop and mobile devices.
What instruments can I trade with OctaFX?
OctaFX offers a range of trading instruments, including 28 currency pairs, 2 metals, 2 energies, and 10 indices.
Does OctaFX charge any commissions?
No, OctaFX does not charge any commissions on trades.
What is the minimum deposit required to open an account with OctaFX?
The minimum deposit required to open an account with OctaFX is 100 euro.
What payment methods are available for deposits and withdrawals?
OctaFX accepts a variety of payment methods, including VISA, Skrill, Swissquote Bank SA, Rietumu Bank, and BlueOrange Bank.
What customer support options are available at OctaFX?
OctaFX offers customer support via email at clientsupport@octafx.eu, live chat, and a back office service available from 9:00 to 18:00 EET Monday to Friday.
FP Markets | Basic Information |
Registered Country | Sydney, Australia |
Founded in | 2005 |
Regulation | ASIC, CySEC |
Minimum Deposit | $100 |
Trading Instruments | Forex, Indices, Commodities, Shares, Cryptocurrencies, Metals, Bonds, and ETFs |
Trading Platforms | MetaTrader 4, MetaTrader 5, Iress |
Account Types | Standard, Raw, Islamic, Demo |
Leverage | Up to 1:500 |
Spreads | From 0.0 pips |
Commission | $3.00 per side per 100k traded (Raw Account only) |
Deposit and Withdrawal Methods | Bank Wire Transfer, Credit/Debit Card, Skrill, Neteller, POLi, FasaPay, China Union Pay, BPay, PayPal |
Customer Support | 24/7 Live Chat, Email, Phone Support, Knowledge Base, Video Tutorials |
Educational Resources | Webinars, eBooks, Trading Videos, Trading Tools, Market Analysis, Economic Calendar |
FP Markets is an Australian-based online brokerage firm that offers various trading instruments including forex, shares, indices, metals, and cryptocurrencies. The company was founded in 2005 and is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). FP Markets provides clients with access to multiple trading platforms including MetaTrader 4, MetaTrader 5, and IRESS. The broker also offers several account types to cater to the needs of different traders, including Standard andRaw, with the minimum deposit to open a standard account starting from $100 AUD or equivalent amount. The standard account is designed for novice traders, while the Raw account is intended for more experienced traders who require tighter spreads and faster execution speeds. In addition, the company offers Islamic accounts, as well as a free demo account for traders to test their strategies in a risk-free environment.
When it comes to trading conditions, FP Markets is known for its competitive spreads and low commissions. The broker also offers high leverage options of up to 500:1 for forex trading. Additionally, the broker offers various 24/7 customer support and rich educational resources such as webinars, trading guides, and video tutorials, which can help both novice and experienced traders to improve their trading skills.
Yes, FP Markets is a regulated broker. They are regulated by two reputable regulatory bodies: the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). ASIC is known for its strict regulations and is considered to be one of the most trusted regulators in the world. CySEC is also a reputable regulator and is responsible for regulating the financial markets in Cyprus, which is an important hub for forex and CFD trading. FP Markets' adherence to these regulatory bodies' rules and regulations ensures its transparency, and fairness in its operations.
FP Markets has several pros, including its strong regulatory framework, low trading fees, diverse range of financial instruments, and robust trading platforms. The broker also offers various account types to suit the needs of different traders and provides excellent customer support. However, some potential cons of FP Markets include limited live trading account types, high inactivity fees, and the fact that the broker is not available to clients from certain countries.
Pros | Cons |
Regulated by reputable authorities (ASIC, CySEC) | No support for U.S. clients |
Wide range of trading instruments | Limited live account types |
Website easy to navigate | Inactivity fee charged on dormant accounts |
Low spreads and competitive pricing | No social trading platform offered |
Generous leverage up to 1:500 | Minimum deposit not the friendiest compared to other brokers |
Rich educational resources available | |
Negative balance protection | |
Multiple trading platforms, MT4, MT5 and Iress | |
High-quality customer service and support |
FP Markets offers over 2250 market instruments for traders to choose from, including forex pair ( over 60) , indices, commodities (Coffee, natural gas, corn & more) , metals (Gold, oil, silver & more), cryptocurrencies, bonds (US10YR & UK Long Gilt Futures GILT), shares ( more than 10,000) and more. With Forex, traders can access major currency pairs, as well as minor and exotic currency pairs. For indices, FP Markets offers a selection of popular indices from around the world, including the S&P 500, NASDAQ, FTSE 100, DAX 30, and more. In the commodities market, traders can trade precious metals like gold and silver, as well as oil, natural gas, and other commodities. FP Markets also offers trading in cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin, as well as shares from various exchanges, including the NYSE and NASDAQ. Overall, FP Markets provides a diverse range of market instruments for traders to choose from.
Behold, a comparison table of the vast array of market instruments offered by reputable brokers FP Markets, IC Markets, FXTM, and Exness:
Market Instruments | FP Markets | IC Markets | FXTM | Exness |
Forex | 60+ | 65+ | 60+ | 120+ |
Commodities | 15+ | 19+ | 3+ | 10+ |
Indices | 20+ | 18+ | 11+ | 10+ |
Stocks | 10,000+ | 120+ | 180+ | 0 |
Cryptocurrencies | 5+ | 10+ | 5+ | 5+ |
When it comes to FP Markets' account types, there are a few important things to consider. Firstly, it is worth noting that the available account types depend on which trading platform you choose to use. The MT4 and MT5 platforms offer Standard and Raw account types, while the iRESS trading platform offers both Retail and Wholesale/Professional account types.
Let's take a closer look at each account type. The Standard account offers commission-free trading with spreads starting from 1.0 pip, while the Raw account offers commission-based trading with spreads starting from 0.0 pips. The Raw account is designed for traders who require lower spreads and are willing to pay a commission for the privilege.
On the other hand, the iRESS trading platform offers both Retail and Wholesale/Professional account types. The Retail account offers commission-free trading with spreads starting from 0.0 pips, while the Wholesale/Professional account offers commission-based trading with spreads starting from 0.0 pips. The Wholesale/Professional account is designed for traders who require lower spreads and have higher trading volumes, and are therefore able to access deeper liquidity pools.
Each account type has its own minimum deposit requirement, which varies depending on the platform and account type you choose, with Standard and Raw (MT4 & MT5)starting from $100 AUD or equivalent, retail and wholesale account from $1,000. In addition, each account type offers different leverage options, depending on the financial instrument being traded.
Pros | Cons |
Multiple account types to choose from | Limited leverage options for certain account types |
Low minimum depoist for Standard and Raw account | Minimum deposit requirements can be high for some retail and professional account |
Ability to trade multiple markets with IRESS platform | Some account types may have higher commission fees |
Access to multiple trading platforms | Limited cryptocurrency trading options |
Professional account options for experienced traders | Demo accounts only available for a limited time period |
High-speed order execution with ECN trading technology | Swap-free account options may not be available for all account types |
FP Markets offers free demo accounts for both the MT4 and MT5 platforms, allowing traders to practice their strategies and familiarize themselves with the platforms before opening a live trading account. The demo accounts provide access to real-time market data, competitive spreads, and a range of trading tools, making it an ideal option for traders of all levels to test their trading skills without risking their capital.
One of the key advantages of FP Markets' demo accounts is that they allow traders to experience the same trading conditions as their live accounts, giving them a realistic view of the market environment. In addition, the demo accounts are unlimited, meaning that traders can practice for as long as they want without any time restrictions.
FP Markets' demo accounts are valid for 30 days. However, if you require an extension, you can contact their customer support team to request it. They may extend the demo account for an additional 30 days.
FP Markets offers Islamic or swap-free accounts to clients who follow the Muslim faith and cannot receive or pay interest due to religious reasons. These accounts comply with Sharia law and allow traders to hold positions overnight without incurring any rollover fees or interest charges.
FP Markets' Islamic accounts are available for all account types, including the Standard and Raw accounts for MT4 and MT5, as well as the iRESS Trading platform. Traders can open an Islamic account by submitting a request to the FP Markets support team, which will review and approve the application.
Here is some more detailed information about how to open an account with FP Markets:
To begin the account opening process, prospective clients can go to the FP Markets website and click on the “Open Live” button. They will then be directed to a page where they can choose between opening a live or a demo account.
After selecting the account type, clients will need to fill out an application form that requires personal and financial information. This includes details such as their full name, email address, phone number, country of residence, and employment status.
Clients will also need to provide some identification documents, such as a passport or national ID card, as well as proof of address, which could be in the form of a utility bill or bank statement. FP Markets takes security seriously and has a strict verification process to ensure the safety of client funds and information.
Once the application has been submitted and the client's identity and address have been verified, they will receive an email with their login credentials and instructions on how to fund their account. FP Markets offers a variety of payment options, including credit/debit cards, bank transfers, and various e-wallets.
The leverage offered by FP Markets for other instruments varies based on the type of instrument and the entity under which it operates. For example, the Australian entity of FP Markets offers a maximum trading leverage of up to 1:500 for major forex trading, while the CySEC entity offers a maximum trading leverage of up to 1:30 for forex trading. Besides, for commodities and indices, the maximum leverage available is usually lower than for forex trading.
Please bear in mind that trading with leverage involves a higher degree of risk, and traders should use it wisely and with caution. It is always advisable to understand the risks involved and have a sound risk management plan in place before using leverage in trading.
FP Markets offers competitive spreads and commissions for its traders. The spreads for forex trading start from as low as 0.0 pips, depending on the type of account and trading platform. The Raw account, which is available on both the MT4 and MT5 trading platforms, charges a commission of $3 per side per lot traded, while the Standard account has no commission but slightly wider spreads.
For trading CFDs on indices, FP Markets charges a commission starting from $10 per lot, while the spreads start from 0.5 points. The commission and spreads for other instruments, such as commodities, shares, and cryptocurrencies, vary depending on the specific instrument and trading platform.
FP Markets offers an Active Traders program that provides discounted trading fees for high-volume traders. Traders who meet certain trading volume requirements can receive rebates on their commissions and reduced spreads.
We've gathered data on EUR/USD, XAU/USD, Brent Crude Oil, and Bitcoin (BTC/USD) from top-notch brokers, including FP Markets, IC Markets, FXTM, and Exness, so you can make an informed decision on where to place your trades.
Broker | EUR/USD Spreads (pips) | XAU/USD Spreads(pips) | Brent Crude Oil Spreads(pips) | Bitcoin Spreads(pips) |
FP Markets | 0 | 15 | 3 | 18.66 |
IC Markets | 0 | 20 | 3 | 60 |
FXTM | 1.3 | 20 | 3 | 130 |
Exness | 0.9 | 17 | 2 | 80 |
In addition to trading fees, FP Markets also charges non-trading fees that traders should be aware of before opening an account. The broker charges an inactivity fee of AUD 10 per month on accounts that have been inactive for more than six consecutive months. FP Markets also charges a withdrawal fee of AUD 20 for withdrawals made via bank transfer, while withdrawals made via credit/debit card or e-wallets are free of charge.
Moreover, FP Markets offers a VPS service to its clients, allowing them to access their trading accounts from anywhere in the world. However, the VPS service is not free and is available at an additional cost of AUD 30 per month. The broker also offers a copy trading service called “MAM/PAMM,” which allows traders to copy the trades of professional traders. This service is also available at an additional cost of 10% performance fee.
Besides, FP Markets also charges swap interest for holding positions overnight. The swap rates can be either positive or negative depending on the currency pair and the direction of trade.
Pros | Cons |
No deposit or withdrawal fees for most methods. | Inactivity fee charged after 6 months of inactivity. |
No account administration fees. | Some payment methods may incur fees charged by third-party providers. |
No fees charged for Islamic accounts. | Overnight financing fees (swaps) are charged on positions held overnight. |
Low conversion fees for deposits and withdrawals in different currencies. |
FP Markets offers its clients a variety of trading platforms to choose from, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, as well as the IRESS platform for advanced traders.
The MT4 platform is well-known for its user-friendly interface and extensive range of analytical tools, making it a popular choice among traders of all levels. The MT5 platform is an upgraded version of MT4, offering additional features such as more timeframes, additional order types, and advanced technical analysis tools.
The IRESS platform is designed for more advanced traders who require direct market access (DMA) and the ability to trade a variety of financial instruments, including stocks, futures, and options, as well as forex and CFDs.
Please note that FP Markets charges fees for using the MT4 and MT5 trading platforms. The fees depend on the account type and trading platform being used. For example, Standard account holders using the MT4 platform are charged zero commissions for various tarding assets, while Raw account holders are charged a commission of $3.5 AUD per lot for forex trades on the same platform. On the MT5 platform, both Standard and Raw account holders are charged a commission of $6 per lot for forex trades. It's important to note that these fees are subject to change and may vary depending on the instrument being traded.
Here is the comprehensive table comparing the top trading platforms offered by FP Markets and other reputable brokers such as IC Markets, Exness, and Avatrade:
Broker | Trading Platform | Desktop/Mobile/Web | Number of Instruments | Minimum Deposit |
FP Markets | MT4, MT5, IRESS | Desktop, Mobile | 10,000+ | $100 |
IC Markets | MT4, MT5, cTrader | Desktop, Mobile, Web | 300+ | $200 |
Exness | MT4, MT5 | Desktop, Mobile, Web | 150+ | $1 |
Avatrade | MT4, MT5, AvaOptions | Desktop, Mobile, Web | 1000+ | $100 |
FP Markets presents comprehensive copy trading services. The options include an embedded MT4 service from a leading algorithmic broker, an embedded MT5 service ideal for equity CFD copy trading, and an embedded cTrader service as a reasonable MT4 alternative. Additionally, traders can leverage the well-trusted third-party service Myfxbook AutoTrade or explore the fee-based emerging alternative Signal Start. Furthermore, FP Markets provides an in-house maintained copy trading service, FP Markets Social Trading, catering to traders seeking a proprietary solution.
FP Markets requires a minimum deposit of $100. This means that you can not open an account with FP Markets unless you deposit at least $100. However, it is important to note that some payment methods may require a higher minimum deposit. For example, if you are using a bank wire transfer, the minimum deposit may be higher than $100 due to processing fees.
The following is a table showing the comparison of the minimum deosit required by FP Markets and other brokers, avatrade, exness, and ic markets:
Broker | Minimum Deposit |
FP Markets | $100 |
Avatrade | $100 |
Exness | $1 |
IC Markets | $200 |
FP Markets offers a variety of convenient deposit and withdrawal methods to ensure that clients can easily fund and withdraw their accounts. Clients can deposit funds using credit/debit cards, bank wire transfers, electronic wallets such as Neteller, Skrill, POLi, and FasaPay. FP Markets does not charge any deposit fees, and the processing time for deposits is usually instant or up to 1 business day, depending on the deposit method.
For withdrawals, clients can use the same methods they used for depositing, and FP Markets does not charge any fees for most withdrawal methods. Withdrawal processing times vary depending on the method used, with electronic wallets usually taking up to 24 hours, while bank transfers can take 3-5 business days. Clients are advised to verify their accounts before making a withdrawal to avoid any delays or complications in the withdrawal process. Additionally, FP Markets offers free internal transfers between accounts, making it easy for clients to manage their funds across multiple trading accounts.
Pros | Cons |
Fast processing times for deposits and withdrawals | Limited payment options compared to other brokers |
No fees for most deposit and withdrawal methods | High withdrawal fees for bank transfers |
Multiple currency options for account funding | No support for some popular payment methods |
Availability of convenient payment methods |
FP Markets offers a range of customer support options to its clients, including email, phone, live chat, and an online contact form. The broker also provides access to a range of educational resources and tools, including a knowledge base, video tutorials, webinars, and trading guides. Additionally, FP Markets offers multilingual support in several languages, including English, Chinese, Spanish, and Portuguese.
In addition, FP Markets has an extensive FAQ section on their website that covers a wide range of topics and can help clients find answers to their questions quickly. 24/7 customer support is a significant advantage for clients who may need assistance outside of regular business hours.
Pros | Cons |
24/7 customer support availability | Limited language support for customer service |
Multiple customer support channels (phone, email, live chat) | No dedicated account manager for clients |
Fast response times to customer inquiries and requests | No in-person support or local offices in some countries |
Extensive knowledge base and educational resources | Limited social media presence for customer support |
FP Markets offers a wide range of educational resources to help traders improve their knowledge and skills in trading. These resources include video tutorials, webinars, trading guides, and market analysis. The broker also provides a demo account for traders to practice their trading strategies without risking real money. Additionally, FP Markets has a blog section on its website, which covers various trading topics and market updates.
Overall, the educational resources provided by FP Markets are comprehensive and easily accessible to traders. The broker's commitment to educating its clients is commendable, and it shows that it values the success of its clients. However, some traders may find that resources are not sufficient for their needs, and may require more personalized educational support.
Pros | Cons |
Comprehensive educational resources | Some traders may require more personalized support |
Demo account available for practice | |
Regular webinars and market analysis | |
Blog section with trading insights |
To sum up, FP Markets is a reputable and well-regulated broker that offers a wide range of instruments for traders to choose from, including forex, stocks, commodities, cryptocurrencies, and more. The broker offers multiple account types, including demo, Islamic, and standard accounts, as well as various trading platforms such as MT4, MT5, and iRESS. FP Markets also provides 24/7 customer support and a comprehensive range of educational resources for traders of all levels. While there are some potential drawbacks such as non-trading fees and limited leverage for certain instruments, the overall trading experience with FP Markets is generally positive.
Question: Does FP Markets offer demo accounts?
Answer: Yes, FP Markets offers demo accounts which can be used for practicing trading strategies and familiarizing oneself with the trading platforms.
Question: What is the minimum deposit requirement at FP Markets?
Answer: The minimum deposit requirement at FP Markets is $100.
Question: What instruments can be traded at FP Markets?
Answer: FP Markets offers a wide range of instruments including forex, shares, indices, commodities, cryptocurrencies, and more.
Question: Does FP Markets offer Islamic accounts?
Answer: Yes, FP Markets offers Islamic accounts for clients who require them.
Question: What is the maximum leverage available at FP Markets?
Answer: The maximum leverage available at FP Markets varies depending on the regulatory jurisdiction. The Australian entity offers up to 1:500 leverage for forex trading, while the CySEC entity offers up to 1:30.
Question: What are the trading fees at FP Markets?
Answer: FP Markets charges spreads and commissions on trades, with the specific fees varying depending on the trading instrument and account type.
Question: What are the deposit and withdrawal options at FP Markets?
Answer: FP Markets offers a range of deposit and withdrawal options including bank transfers, credit/debit cards, e-wallets, and more.
Question: What kind of customer support is available at FP Markets?
Answer: FP Markets offers 24/7 customer support through various channels including live chat, email, and phone.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive octafx and fp-markets are, we first considered common fees for standard accounts. On octafx, the average spread for the EUR/USD currency pair is from 0.3 pips, while on fp-markets the spread is From 0.0.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
octafx is regulated by CYSEC. fp-markets is regulated by ASIC,CYSEC.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
octafx provides trading platform including MT5 account and trading variety including 28 Currency pairs + 2 metals + 2 energies + 10 indices. fp-markets provides trading platform including Raw,Standard and trading variety including 70+ FX pairs, metals, indices, commodities.