Investment Advisory License
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|Regulation||Regulated by CySEC|
|Fees||3 USD, 2.75 EUR, 2.25 GBP for Raw accounts|
|Funding Methods||Credit/debit cards, PayPal, Skrill, wire transfer|
|Customer Service||Email, phone, live chat|
FP Markets is a leading virtual currency exchange that offers a wide range of services to its clients. Founded in 2018, the company is registered in Cyprus and operates under the regulation of the Cyprus Securities and Exchange Commission (CySEC).
In terms of trading platforms, FP Markets offers a user-friendly and reliable platform, which allows traders to easily execute their trades. The company also provides seamless deposit and withdrawal options, ensuring the convenience of its clients. Additionally, FP Markets offers educational resources to help traders enhance their knowledge and improve their trading skills.
FP Markets is a cryptocurrency exchange that operates as a centralized exchange. It provides a platform for users to trade various cryptocurrencies. As a centralized exchange, FP Markets acts as an intermediary between buyers and sellers, facilitating the exchange of cryptocurrencies. It is also a broker for market instruments such as forex, gold, indices, and shares.
One of the notable features of FP Markets is its user-friendly and reliable trading platform. This platform offers a seamless trading experience, allowing users to easily execute their trades and monitor market fluctuations.
Another important feature of FP Markets is its provision of maximum leverage. This allows traders to enhance their trading capabilities by borrowing funds to amplify their positions. Customer support is a top priority for FP Markets, as the company provides responsive and helpful assistance to its clients.
|Diverse Tradable Instruments||Absence of Additional Crypto Services (e.g., staking)|
|Tiered Fee Structure||Security Concerns|
|Negative Balance Protection|
Diverse Tradable Instruments
FP Markets offers a broad spectrum of tradable options encompassing cryptocurrencies, forex, indices, and commodities, providing traders with an extensive array of investment opportunities.
2. Tiered Fee Structure
The tiered fee model, reducing fees as trading volume escalates, appeals to active traders seeking to optimize their transaction costs.
3. Negative Balance Protection
The inclusion of Negative Balance Protection underscores FP Markets' commitment to risk management, shielding traders from losses exceeding their account balance.
4. Educational Resources
FP Markets furnishes traders with valuable learning tools, such as trading guides and webinars, nurturing an environment conducive to skill development.
1. Absence of Additional Crypto Services
FP Markets does not offer supplementary crypto-related services like staking or peer-to-peer lending, potentially limiting options for those seeking broader cryptocurrency engagement.
2. Security Concerns
While FP Markets employs security measures, concerns may arise due to the lack of explicit mention of two-factor verification (2FA), a common safeguard against unauthorized access.
FP Markets is regulated by the Cyprus Securities and Exchange Commission (CYSEC). The company holds the Investment Advisory license with license number 371/18. This indicates that FP Markets is a regulated virtual currency exchange, ensuring that it operates in accordance with the regulations set by CYSEC. The regulation status of FP Markets is “Regulated”, implying that it meets the necessary requirements and standards set by the regulatory agency.
The specific license type held by FP Markets is the Investment Advisory License. This license allows the company to provide investment advice and execute trades on behalf of its clients. The license name of FP Markets is First Prudential Markets Ltd, indicating the legal entity through which the company operates.
FP Markets takes rigorous steps to ensure the security of clients' funds and personal data. Client deposits are held in segregated accounts with Bank of Cyprus Public Company Ltd, separate from the company's funds, guaranteeing an additional layer of protection. This separation minimizes the risk of co-mingling and enhances fund transparency.
To prevent potential losses exceeding account balances, FP Markets provides Negative Balance Protection to Retail Clients, promoting a safer trading environment. On the data security front, the company employs robust encryption technologies to safeguard sensitive client information from unauthorized access, complemented by stringent internal protocols and regular audits.
FP Markets offers a diverse selection of popular cryptocurrencies for trading, allowing traders to access a range of digital assets. These include well-known options such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP), as well as newer entrants like Cardano (ADA), Bitcoin Cash (BCH), Dogecoin (DOGE), Polkadot (DOT), EOS, Chainlink (LINK), Solana (SOL), and Stellar (XLM). Each cryptocurrency is paired against the US Dollar (USD), enabling traders to engage in a variety of trading strategies and investment opportunities.
The registration process of FP Markets typically involves the following steps:
1. Visit the FP Markets website and click on the “Sign Up” or “Register” button.
2. Fill out the registration form by providing your personal information, such as your full name, email address, and phone number.
3. Create a username and password for your account, ensuring that it meets the specified security requirements.
4. Agree to the terms and conditions of FP Markets by carefully reading and accepting them.
5. Complete any additional verification steps, such as providing identification documents for KYC (Know Your Customer) purposes.
6. Once your registration is complete, you will receive a confirmation email with further instructions on how to access your trading account.
It is important to note that the registration process may vary depending on the jurisdiction and regulatory requirements, so it is recommended to refer to the specific guidelines provided by FP Markets during the registration process.
FP Markets implements a comprehensive fee structure to cater to different trading preferences. The Standard Account entails zero fees, which are embedded within the spread, across various trading instruments. Conversely, the Raw Account introduces competitive commission charges on specific instruments. To provide a clearer overview of the fees, the following table outlines the commission details for each account type:
|Instrument||Standard Account Fees||Raw Account Fees|
|Forex||Zero (Built into the spread)||3 USD, 2.75 EUR, 2.25 GBP *|
|Metals||Zero (Built into the spread)||3 USD, 2.75 EUR, 2.25 GBP *|
|Commodities||Zero (Built into the spread)||Zero (Built into the spread)|
|Indices||Zero (Built into the spread)||Zero (Built into the spread)|
|Cryptocurrencies||Zero (Built into the spread)||Zero (Built into the spread)|
*Charge per side of trade. For example, a total round turn bears commission charges amounting to 6 USD.
These fees provide traders with flexibility and transparency, allowing them to choose an account type that aligns with their trading strategies and preferences. It's important for traders to review and confirm the latest fee information on FP Markets' official website before making trading decisions.
FP Markets simplifies fund management for traders by offering a variety of deposit methods, including credit/debit cards, payment wallets, online banking, and bank wire transfers, with prompt processing during business hours. For withdrawals, options like credit/debit cards, PayPal, international bank wire transfers, Paysafe Financial Services, and Skrill are available, each with varying processing times (1 business day to 1-3 business days) and associated fees (some with no fees, while others may charge 1% or more). The details of fees charged for each payment method are shown in the following table:
|Credit/Debit Card (USD, EUR, GBP)||No Fees|
|PayPal (USD, EUR, GBP)||No Fees|
|International Bank Wire (USD, EUR, GBP)||No Fees|
|Paysafe Financial Services Ltd (USD, EUR, GBP)||1% (capped at 30 USD)|
|Skrill Ltd (USD, EUR, GBP)||1% + country fees|
|Safecharge Ltd (EUR, GBP)||No Fees|
|Safecharge Ltd (EUR)||No Fees|
FP Markets offers various educational resources and tools to support traders in their trading journey. These resources include trading guides, video tutorials, and webinars. These resources provide traders with valuable insights and knowledge about different trading strategies, market analysis, and risk management. There is also a choice for demo accounts for newcomers to familiarize themselves with the trading interface.
FP Markets provides customer support services to assist traders with their inquiries and concerns. The available hours of the customer support team may vary, and it is recommended that traders refer to the FP Markets website or contact customer support directly for the most accurate information regarding the availability of customer support.
Traders can reach out to the customer support team through various contact channels, including email, telephone, and live chat. These channels allow traders to communicate their questions or issues to the customer support team for assistance.
FP Markets caters to a diverse range of traders, including beginners, intermediate traders, and experienced professionals. Here are some target groups that may find FP Markets suitable:
1. Beginner Traders: FP Markets offers user-friendly and reliable trading platforms, along with educational resources such as trading guides, video tutorials, and webinars. These resources can be extremely helpful for those who are new to trading and looking to learn and develop their trading skills. Additionally, the availability of customer support can provide beginners with assistance and guidance when needed.
2. Intermediate Traders: FP Markets provides advanced charting tools and analytical features that can support intermediate traders in conducting thorough market analysis and making informed trading decisions. These tools allow traders to analyze price fluctuations, identify trends, and implement various trading strategies. The diverse range of cryptocurrencies and other financial instruments offered by FP Markets can also provide intermediate traders with opportunities for portfolio diversification.
3. Professional Traders: FP Markets understands the needs of professional traders and aims to provide them with a reliable and secure trading environment. The regulation status of the exchange ensures that professional traders can trade with the confidence that their funds and personal information are protected. The tiered fee structure and competitive trading fees make FP Markets a viable option for professional traders who engage in high-volume trading.
4. Global Traders: FP Markets aims to cater to a global audience and may provide customer support in multiple languages. This makes it accessible to traders from different regions around the world. Additionally, the availability of various deposit and withdrawal methods can accommodate the diverse needs of global traders, allowing them to conveniently fund their trading accounts and make withdrawals.
It is important for traders to consider their individual trading goals, preferences, and levels of experience when choosing a suitable trading platform. Conducting thorough research and considering the specific features and offerings of FP Markets can help traders determine if it aligns with their trading requirements.
In conclusion, FP Markets offers a range of features and services that cater to a diverse group of traders. The registration process is straightforward, and the exchange offers a tiered fee structure for trading, deposit, and withdrawal fees. The availability of educational resources, such as trading guides and webinars, can be beneficial for beginners, while advanced charting tools cater to intermediate traders.
Additionally, FP Markets provides a reliable and secure trading environment for professional traders. However, it is important to note that user satisfaction can vary, and traders should conduct their own research to determine if FP Markets aligns with their specific trading needs and preferences.
Q: What are the trading fees of FP Markets？ A: FP Markets charges trading fees based on a tiered structure tied to trading volume for Raw accounts.
Q: What deposit and withdrawal methods does FP Markets support？ A: FP Markets offers diverse methods including bank wire transfers, credit/debit cards, and electronic payment systems.
Q: What educational resources and tools does FP Markets provide？ A: FP Markets offers trading guides, video tutorials, webinars, and community support via forums and social media groups.
Q: How can I contact FP Markets' customer support？ A: Reach FP Markets' customer support via email, telephone, or live chat.
Q: Who can benefit from FP Markets？ A: FP Markets suits beginner, intermediate, and experienced traders, offering user-friendly platforms, advanced tools, and a secure trading environment tailored to individual preferences.
User 1: FP Markets is simply outstanding! After trying various Forex Brokers, I've been blown away by the exceptional service they provide. The spreads are fantastic, and what's even better – no sneaky manipulations. But the real gem is their Customer Care. The efficiency and accuracy in their deals are remarkable. Withdrawals and payments？ Lightning fast! Trust me, I've compared, and FP Markets leaves the competition in the dust. Big shoutout to Panagiotis for doing an awesome job!
User 2: FP Markets caught my attention for its competitive pricing, especially for forex traders utilizing the ECN account. The catch is, this pricing is exclusive to the MetaTrader platform. On the downside, FP Markets falls short with only 764 symbols available on MetaTrader 5 (MT5). While they do offer a whopping 10,000+ symbols for share trading, it's a bit of a catch-22. The majority of those symbols are on the Iress platform, which can come with additional costs – unless you're a really active trader or maintaining a high-balance account.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.