FPMarkets review reddit 2020
Forex brokers are mostly in the regular ECN / STP form. For FPMarkets, one level higher than those brokers is DMA (Direct market access).
DMA outperforms ECN in the public sense that investors have to pay to get access. Not all brokers can do it. DMA requires very high technology that the broker must have a technology team to maintain and maintain, especially for servers and specialized software.
FPMarkets has been operating for 15 years in international markets, regulated under the Australian Securities and Investments Commission (ASIC).
DMA High Technology (Direct Market Access)
DMA is a trader’s order execution with access to direct liquidity in the market (without intermediaries). Unlike traditional ECN brokers, an investor places orders and orders that are executed via the exchange’s price received from the source of liquidity. But for DMA is an electronic transaction mechanism that allows investor orders directly to the source of liquidity. Liquidity sources here will include banks, investment funds, brokers.
At FPMarkets, liquidity sources are from leading banks HSBC, JP Morgan, Barclays, and Goldman Sachs around the world.
Types of accounts at FP Markets
Includes 6 types of accounts: Standard Account and RAW Account and Islamic account and 3 types of Iress accounts (Standard Iress,, Platinum Iress, and Premier Iress).
Standard Account
- No commission
- Capital starts at 100 AUD or USD.
- Spreads from 1 pips or more.
- Highest leverage of 500: 1.
- Execution on the NY4 base premium server.
- Over 60 Trading Products such as Forex, Commodity and Indices products.
RAW Account
- Commission fee of 6 USD / lot.
- Capital starts at 100 AUD or USD.
- Spreads from 0 pips or more.
- Highest leverage of 500: 1.
- Execution on the NY4 base premium server.
- 70+ Trading Products like Forex, Commodities and Indices.
FP Markets deposit and withdrawal Fee
Allows deposit and withdrawal via VISA, Skrill, Neteller, Poli Pay, BPAY, Fasapay, and PayPal. Commission charges may apply on IRESS accounts. Instant deposits and withdrawals take more than 1 business day.
Advantages of FPMarkets
- Very high login security.
- Reputation of ASIC license
- High DMA execution technology.
- Very wide variety of trading products.
Disadvantages of FPMarkets
High withdrawal costs.
Website: www.fpmarkets.com
