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You are here: Home / Broker Analysis / FP Markets Fees and Commissions

FP Markets Fees and Commissions

Eduardo Montero

Author: Eduardo Montero

In this article we will detail and explain each of the fees and commissions that you will have to pay if you access the services of FP Markets.

This way you won’t have to spend hours researching and gathering information, to get to know every detail, as that is exactly our goal, that you know this information, in a complete way, all in one place.

But as usual, before we get into the commissions, let’s get to know a bit more about the broker under review.

Main features of FP Markets

FP Markets is an established and consolidated broker in the world of financial markets as it has been operating for more than 17 years. Its headquarters are located in Australia, where it was founded in 2005.

FP Markets fees and commissions

FP Markets is authorised and regulated by the Australian Securities and Investments Commission (ASIC) and in Europe by the Cyprus Securities and Exchange Commission (CySEC).

Although it is considered a Forex broker for all the advantages it provides to its traders for this type of markets, FP Markets’ giant ecosystem encompasses other financial instruments such as Stocks, Indices, Commodities, and others.

FP Markets offers its clients the powerful and renowned MetaTrader 4 and MetgaTrader 5 platforms in all their variants, either in their PC versions for Mac or Windows, or in their mobile versions for Android or iOs, as well as including its own platform for the latter devices, Iress.

It also includes excellent analysis tools such as Traders Toolbox and Autochartist, which support both novice and experienced traders.

Last but not least, FP Market offers the possibility of autotrading through the Myfxbook platform as part of its social trading services.

For more information you have in this article a comprehensive compilation of reviews and features of FP Markets in much more detail.

Overview of FP Markets’ main fees commissions

Each broker has a system of fees as part of the charges for certain services it makes available to its clients. Below is a summary of the main fees charged by FP Markets, which we will cover later in our article.

The main fees and commissions that you will find in FP Markets are:

  • The spreads we are charged when trading currency pairs, CFDs, and cryptocurrencies.
  • The fixed commissions on Raw accounts for MetaTrader 4 and 5.
  • Commissions charged on Iress accounts.
  • Overnight commissions (Swaps) that are charged (positively or negatively) for holding open trades one or more days overnight.
  • Commissions applied for exchange rate, deposit, withdrawal and other types of operations.

FP Markets Fees (spreads)

Important: The rates and commissions that we are going to comment below about the broker FP Markets are indicative as an example and have been extracted from its website at the time of writing this article so they can be modified by the broker at any time and may not be updated. For updated rates you should visit the official website of FP Markets: https://www.fpmarkets.com/

The spread is a type of commission charged by brokers when we open a trade in certain financial assets such as currencies, CFDs and cryptocurrencies. This commission is represented as the difference between the buy price and the sell price provided by the broker.

You may be wondering why the bid price is different from the ask price?

And the answer is quite simple, the difference in these two prices is created to cover the commission charged by the broker for allowing us to interact with the financial markets, in this case, to open our trade, this added to the interbank prices they receive from their liquidity providers.

EUR/USD Spread with Bid and Ask

At FP Markets the spreads vary according to the liquidity and volatility of the market, meaning that they can change with respect to the state of the market and the liquidity providers.

In the case of Raw accounts, spreads can be as low as 0 pips, as these trading accounts have access to a larger number of top tier liquidity providers.

This translates into institutional level liquidity, no price manipulation and no requotes. In the case of Standard accounts the spreads are slightly higher as these accounts do not charge commissions for trading volume, instead the spread is charged to compensate for the fact that it is a 0 commission account.

Below we can see the spreads that FP Markets applies to the main assets.

Forex

Forex market spreads on FP Markets

Indices

FP Markets CFD market spreads (Indices)

Commodities

Commodities Market Spreads on FP Markets Broker

Metals

FP Markets CFD (Metals) Market Spreads

Cryptocurrencies

FP Markets Cryptocurrency Market Spreads

Fixed commissions on Raw accounts for MetaTrader 4 and 5.

Raw accounts at FP Market charge a fixed commission when trading currencies or metals. This commission compensates for the low spreads that these types of instruments offer in these accounts, which can be as low as 0 pip as mentioned above. This fixed round-trip commission is charged when we reach one lot in volume traded.

On the FP Markets website we can see that this commission is around 3 US dollars, which translates into a commission of 6 USD for a full transaction when trading one lot.

Fixed commissions on Raw Spread accounts

In the case of CFDs on stocks, a different commission is charged and only applies to the MT5 platform. It should be noted that this commission is taken into account for both Standard and Raw accounts.

Fixed commissions on Raw accounts for equity CFDs

Commissions applied to Iress accounts

Iress accounts have a number of particular aspects that differentiate them from Standard and Raw accounts. For this reason we will analyse their main fees separately.

Despite the aforementioned differences, it should be noted that the fees charged for spread are similar to the other accounts. However, a different fee model applies to these accounts due to their DMA execution model. Commissions are applied to each trade we execute and the fees are set at a certain percentage of the total amount of the trade.

The DMA is an execution model where the client is given access to a genuine channel of quotes from the underlying exchange on which they trade via the order book of that exchange or a liquidity provider.

Not only do clients receive real-time prices, full depth of market and direct access to that exchange’s order book (via the IRESS DMA platform), but 100% of client orders on DMA products are hedged in the underlying market.

The DMA model not only allows orders to flow into the underlying market, but also provides access to leverage, short selling and competitive commissions.

Details of FP Markets Iress accounts

  • For Iress (Standard) accounts a minimum commission of $10 AUD is applied, and thereafter this rate is adjusted by 0.1% for each open position.
  • In the case of Iress (Platinum) accounts, this fee is slightly lower as the conditions for creating this account require a higher initial capital, in this case the fee per trade will be a minimum of $9 AUD, and thereafter 0.1%.
  • Iress (Premier) account fees will be the lowest of these three account types. This commission is set at 0.08% of our trade size and will be the standard charge that will always apply.

Other fees that apply to Iress accounts are related to the use of the IressTrader or Iress ViewPoint platforms. This fee will be 55 USD per month which will be included in the general service fees.

Although this seems like an unreasonably high fee, FP Market offers the possibility to avoid this fee if we trade more than 14 times per month with a standard ticket rate of 10 Australian dollars or generate more than 150 dollars in commissions during this same period.

Another fee associated with these platforms is the Australian Securities Exchange (ASX) data streaming fee. This fee is also applied monthly and will be $20 plus GST. For this type of commission, FP Market offers the possibility to get a discount if we trade more than 4 times per month or generate $50 in commission by trading CFDs on AXS or DMA index.

Overnight commissions (Swaps) applied at FP Markets

Swap commissions or swap fees are generated when we keep a trade open from one day to the next, several days, including weekends. At FP Markets this commission starts to be charged from 00:00 platform time (17:00 New York time).

To see the swap rates for each of the FP Markets assets you can see the broker’s website (https://www.fpmarkets.com/) or access the information manually from each of the trading platforms, either MetaTrader or Iress, always bearing in mind that these rates are indicative rates and are subject to change depending on market volatility.

Swap rates are calculated in points and can be positive or negative, depending on the difference in the interest rates of the two currencies.

A very important fact to note is that at FP Markets swap rates are tripled on Wednesday evenings in order to include these fees for the weekend.

To view the latest rates on FP Markets MT4 and MT5 accounts please click here:

  • Go to the “Market Watch” section.
  • Right click and select “Symbols”.
  • Choose the forex pair you want to trade.
  • Click on “Properties” for the pair, (in MT5, select “Specification”).

You will see all the information about the pair, such as swap rate, stop level, initial margin and others.

We can also use the swap/rollover calculator, provided by FP Markets, to estimate the value of an overnight trading position easily.

To access this useful tool we must go to the broker’s official website and in the section (Resource or Platforms) choose the option (Forex Calculator).

Once we have located the calculator, we only have to indicate the instrument we trade, the currency of our account and the volume of the operation, with this information the tool will do the rest, offering you the values you need.

FP Markets Swap Calculator

Examples of FP Markets swaps:

Forex swaps

Forex Swaps in FP Markets

Commodity Swaps

Commodity Swaps in FP Markets broker

Metal Swaps

Metal swaps on FP Markets

Index Swaps

Index Swaps at FP Markets

Cryptocurrency Swaps

Cryptocurrency Swaps at FP Markets

Other types of commissions charged by FP Markets:

Exchange rate commissions

This commission is applied whenever we make a trade where the base currency of the pair (forex) is different from the base currency of our account. For example if the base currency of our account is USD and we decide to trade the EUR/JPY pair, in this case we would have to make the current exchange rate from USD to JPY to cover the trade as we do not have Yen in our account.

We may also be affected by these commissions if we wish to withdraw our profits in a different currency to the one we have in our account, as the broker will have to make the current exchange rate to bring our base currency to the desired currency.

FP Market does not charge these fees, so we can rest assured if we wish to trade currency pairs that do not include our base currency or make currency exchanges when withdrawing our profits.

Deposit Fees

FP Markets does not charge deposit fees, in fact, it takes care of international fees up to $50 when we deposit more than $10,000 via bank transfers.

Withdrawal fees

FP Markets does not charge internal fees for deposits or withdrawals, with the exception of withdrawals via international bank transfers, in which case an internal fee of AUD 10 will apply.

However, payments to and from international banking institutions may be subject to fees from entities independent of FP Markets.

FP Markets is not responsible for any such fees. These charges will be borne by each client.

Inactivity fee

As we could not find this information on their official website, we decided to contact their live support service and they confirmed that FP Markets does not charge any inactivity fees on the account, so you can forget about it for a while without costing you any money, however, you should know that if you have no funds in the account after leaving it inactive for more than a month, it will be archived.

Inactivity fee in FP Markets

Is FP Markets an expensive or cheap broker?

To determine whether FP Markets is a cheap or expensive broker we have decided to compare it with similar brokers that are considered either expensive or cheap, and in this way know which broker is closer to the broker we are analysing.

–

eToroFP MarketsPepperstone
Average Spread on EUR/USD0.00010.000130
Average Spread on S&P5000.750.60.4
Average spread on Gold0.450.310.19
Average spread on Bitcoin0.75% (300)2031
Average commission on Cocoa6.52.480.46
Deposits000
Withdrawals$5$100

As you may have noticed FP Markets is below eToro in almost every aspect, so it can be considered cheaper than eToro, whereas if we look at Pepperstone’s values, our broker in question is above eToro in almost every aspect, so it can be considered more expensive than Pepperstone.

This gives us to understand that FP Markets is not one of the most expensive but not one of the cheapest, even so there can be significant differences depending on the financial instrument you are interested in trading.

A good way to see firsthand what are the operating fees of FP Markets and calculate how they impact on your operations is to open a free demo account in which you will have a virtual balance to test in an environment very similar to a real account but without risking your capital

And this is the end of our analysis of the fees and commissions of the FP Markets broker. Now you know in more detail what costs you will have to face if you decide to trade with this financial intermediary.

You can take a look at the commissions of other brokers we have reviewed here: IQ Option Commissions, eToro Commissions or Pepperstone Commissions.

If this article has helped you even a little, we encourage you to share it with your trader friends and in your social networks, that way you will be giving back to us and we can continue to make content like this so that more people can access the information from our analysis in a timely manner.

Thank you very much for your attention.

This post is also available in Spanish: fp markets comisiones


Eduardo Montero

Author: Eduardo Montero

Welcome to Mundo-Forex.com: I'm Eduardo Montero, I work professionally in IT. I started trading in the financial markets (mainly Forex) more than 10 years ago. I'm the author of the articles on this website and of many others published on other websites specialised in stock market investment and finance in general. Learn more about me here: About the author.


 

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(*) Risk warning: CFDs are complex instruments and have a high risk of losing money quickly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are a difficult product to understand, the CNMV considers them unsuitable for retail investors due to their complexity and risk. Your capital is at risk. Trading foreign exchange or CFDs with leverage carries a high level of risk and may not be suitable for all types of investors. The high degree of market leverage can play both against and for the investor. Therefore, before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk tolerance. Remember that there is a possibility of losing some or all of your initial investment, even exceeding that amount, so do not invest money you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange and CFD trading and if in doubt seek the advice of an independent financial advisor. The opinions expressed on Mundo-Forex.com are those of independent authors who do not necessarily represent the opinion of Mundo-Forex.com or its management team. Mundo-Forex.com does not verify the certainty or veracity of the statements or complaints made by any of the independent authors who collaborate on the website. All published texts are liable to contain errors or omissions. The opinions, news, reports, analyses, quotes or other information contained in Mundo-Forex.com, produced by the Mundo-Forex.com team, its partners or collaborators are of a general market commentary and in no way constitute or should be understood as investment advice or recommendation. Mundo-Forex.com disclaims any legal responsibility for any loss or damage including, but not limited to, loss or profits that may arise directly or indirectly from the use of this information or the trust placed in it. ® Mundo-Forex.com - All rights reserved. © 2023 Office: Calle Rosalía de Castro 67 9C - 36201 - Vigo (Pontevedra) - Spain - Mundo-Forex.com All about Forex trading

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