Commissions are charged on the Raw account at USD 3/ R48 ZAR per side.
FP Markets Fees and Spreads – 9 key points quick overview:
- ☑️Overview
- ☑️FP Markets at a Glance
- ☑️FP Markets Fees and Spreads
- ☑️FP Markets Additional Trading Fees
- ☑️Broker Fees
- ☑️Customers Review
- ☑️Pros and Cons
- ☑️Conclusion
- ☑️Frequently Asked Questions
Overview
FP Markets, a major player in the worldwide financial trading environment, has adjusted its services to fit the special demands of South African traders, providing a one-of-a-kind combination of conditions and features tailored to this market.
Two of FP Markets’ notable advantages for South African traders are deep liquidity pools and narrow spreads.
This feature is especially useful for forex and CFD traders because it allows for more precise and cost-effective trading tactics.
The platform’s ability to offer affordable spreads stems from direct access to a diverse pool of liquidity providers, a trait highly prized in today’s fast-paced trading market.
Furthermore, FP Markets has made significant investments in cutting-edge trading technologies.
South African traders can use advanced platforms like MetaTrader 4 and MetaTrader 5, which are known for their user-friendly interfaces, extensive analytical tools, and automated trading capabilities.
This technological advantage is critical for traders who want real-time data and seamless transaction execution, especially in volatile markets like forex and cryptocurrencies.
FP Markets At a Glance
FP Markets Fees, Spreads, and Commissions
Spreads
FP Markets is well-known for offering variable spreads on all trading accounts.
The spread you will face is determined by the account type you select, the financial instrument you are trading, and the current market conditions.
For example, the MT4/5 Standard Account has a typical spread of 1 pip for EUR/USD, making it a viable option for traders looking for competitive spreads.
The MT4/5 Raw Account, on the other hand, provides highly tight spreads, with EUR/USD quoted at 0.0 pips, appealing to those who prefer minimal spreads for their trading strategies.
Commissions
While FP Markets offers commission-free trading, it is essential to note that commissions are applied to zero-spread accounts.
This commission compensates the broker for executing the trade.
For example, traders on the MT4/5 Raw Account can expect a commission of US$3 per side.
The same commission is applied to the MT4/5 Islamic Raw Account, ensuring traders’ transparency in commission costs.
Overnight Fees
FP Markets’ overnight fees are based on the interest rate differential between the two currencies involved in a trade.
The firm adds a markup to current bank interest rates, incorporated into the broker fees.
These overnight fees are calculated automatically by the trading platform, specifically MetaTrader 4 and 5, making it easier for traders.
Investors must know the possibility of positive and negative overnight fees depending on their trading positions.
FP Markets Additional Trading Fees
FP Markets does charge swap fees, also referred to as overnight fees.
A swap or rollover fee is the net interest return on a currency position held overnight by a trader.
That is, when trading currencies, an investor borrows one currency to buy another.
The interest paid, or earned, for holding the position overnight is called the rollover rate.
The broker does offer an Islamic, or swap-free account, which will allow traders of the Muslim faith to avoid paying swap fees as they fall under the type of interest that is prohibited by Sharia law.
There are complex additional fees on the Iress Trader accounts. For example, on the Iress Standard Account, there is a $55/R 880 ZAR fee that is waived if you generate $150 in commission per month.
Further information about the Iress Trader fees can be requested from the broker’s customer support team.
Broker Fees
Traders should also be sure to check with the client support or account manager on any additional broker fees that may be waived by their financial institution.
As already noted, traders may be subjected to currency conversion fees should they transfer fees to a currency that is different from their account-based currency.
As FP Markets is not a spread betting broker, spread betting fees will not apply.
FP Markets covers bank withdrawal fees.
Customer Reviews
? Amazing Broker!
FP Markets is a fantastic brokerage firm. What distinguishes them is their precision, speed in withdrawing funds, and persistence in assisting clients. Their responsive customer service team gives accurate information and real-time solutions. One of their distinctive aspects is their honest approach, which offers the same way for deposit and withdrawal operations, which sets them apart from other brokers in the field. – Mia Mkhize
? Great Support.
Thanks to Christos, I had a fantastic experience with FP Markets’ live chat service. He not only comprehended my questions but also provided thoughtful and accurate responses. It is reassuring to have such qualified assistance at my disposal. – Grace Dlamini
? Very Happy!
FP Markets responded quickly to my request. My account had been under review for four days, and when I called customer service, Monica helped me get it approved in five minutes. I cannot thank FP Markets enough – their advice has made me a pleased trader. – Joshua Kruger
Pros and Cons
Conclusion
FP Markets Fees and Spreads on major pairs such as the EUR/USD start from 0 pips, averaging around 0.09 with the Raw account and about 1.19 with the Standard account.
Commissions are charged on the Raw account at USD 3/R48 ZAR per side.
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Frequently Asked Questions
How many instruments can I trade with FP Markets?
FP Markets offers the following asset classes:
- Forex – Over 70 currency pairs are available, including majors, minors, and exotics.
- Cryptocurrencies – Trade on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple.
- Share CFDs – Access over 10,000 shares across four continents.
- Indices – Access 12 global indices, including the FTSE 100 and NASDAQ.
- Commodities – Trade on commodity CFDs, including Brent Crude Oil.
- Precious metals – Trade on gold and silver in spot markets.
Do FP Markets offer leverage?
Yes. Leverage is available up to 1:500 across both the Standard and Raw accounts.
What spreads can I expect with FP Markets?
FP Markets spreads on EUR/USD begin at 0 pips, averaging around 0.09 with the Raw account and about 1.19 with the Standard account.
Indices are just as competitive, starting at 0.31 for the FTSE 100 on both accounts. For precious metals, spreads average 0.13 pips with the Raw account for gold and around 0.01 for silver.
Does FP Markets charge a commission?
Yes. Commissions are charged on the Raw account at USD 3 per side.
Are FP Markets regulated?
Yes. FP Markets Pty Ltd is fully regulated by the Australian Securities and Investments Commission (ASIC) operating under Australian Financial Services License (AFSL) number 286354.
The broker is also regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 371/18.
Is FP Markets a recommended forex trading broker for experts and beginners?
Yes, FP Markets offers an excellent trading environment for both beginner and advanced traders.
What is the overall rating out of 10 for FP Markets?
9/10.
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