FP Markets Has The Best Forex Bonus Offer for Australian Traders
Finding the best forex provider has never been easier! First Prudential Markets, better known as FP Markets, is a global award-winning Forex trading and CFD provider. FP Markets has over 10 years of experience in the financial instruments and markets sector. It offers you the ability to trade in more than 10,000 tradable assets on several trading platforms and promises No-Dealing-Desk environment with deep liquidity. This is one of the top forex brokers that is regulated in Australia, and FP Markets has offices in Sydney, Shanghai and Beijing.
A Forex trading platforms comparison on the 22/09/2019 found FP Markets was the best FX broker for the following reasons:
- Number 1 bonus offer in the Australian market
- Australia’s most established DMA CFD broker
- Offers both WebIRESS & MT4 Trading platforms & its proprietary IRESSTrader
- ASIC Regulated
- Outstanding customer service
- FP Markets has an enviable record of winning top trading awards
FP Markets Has the Best Forex Bonus Deposit Offer
FP Markets runs unique bonuses and promotions which sometimes includes no deposit required bonus or forex trading bonus, and they currently have the best forex deposit bonus offer. Their normal offer is usually a 100% bonus funds up to $500.
However, FP Markets is offering an exclusive Compare Forex Brokers offer to Australian traders, in which traders can make an initial deposit of any amount between $200 to $50,000 AUD into a new trading account, and claim 20% in trading credit bonus.
The process for fx brokers and forex traders to get in on their bonus offers is as follows:
- Open an account with FP Markets
- Verify the account with ID and POA documents
- Make an initial deposit of at least $200
It’s important to note that the deposit bonuses cannot be withdrawn in part or in full, as the deposit bonus amount is not cash. They also boast refer a friend offers from time to time yet on the 14th January 2019, this trading bonus was not active. It is important to review FP Markets’ terms and conditions when looking to secure their bonus offer.
Direct Market Access Makes FP Markets Stand Out
FP Markets offers over 10,000 trading instruments including 50+ currency pairs for trade. There is no dealing desk, slippage or re-quotes.
FP Markets also offers Direct Market Access (DMA) which allows their traders with the account to use the FP Markets trading platform to make trades directly with liquidity providers. The result is the ability to make these trades without the interference from forex brokers leads to three main benefits: far lower spreads, speedier trade executions, and increased price transparency. Transparent brokerage fees are done in the form of a consistent commission.
It’s important to be aware that as an ECN Forex broker, foreign exchange liquidity providers and put together for retail and institutional clients to a forex price feed. An auction done in this format allows the best offer and bid available on aggregate for each forex pairing. Great focus is overall placed on the combination of sufficient volume to fill orders at the quoted offer while maintaining reduced slippage.
Clients of FP Markets are able to choose among three trading platforms: MetaTrader 4 (MT4), MetaTrader 5, and its proprietary IRESS Trader, specialised in CFDs trading. MetaTrader 4 and 5 are can be accessed through the web, desktop, and mobile apps- all of which adds convenience to trade on any shared Internet-connected device.
IRESSTrader provides its users access to DMA CFDs with fast execution, a wide ranges of order types, stop-loss, live news feeds, international data, complete market depth and charting facilities. Keep in mind that this platform has a monthly fee of $55.
Key Points on FP Markets’ IRESS Trader platform and offering:
- You can access up to 8 global exchanges for currency trading
- They offer over 10,000 instruments to help identify the volatility across currencies to ETF’s.
- FP Markets offers you access to the full list of ASX shares as CFDs
- You can short sell 300 share CFDs
- You can trade 639 Aussie share CFDs with a margin of 50% or less
- 355 share CFDs are available to trade under 20% margin in Australia
- There are over 50 drawing tools available to help spot technical analysis trends, and mark charts.
- You can request a special borrow on any stock by calling their office
- Their commission rates are the most competitive for an Australian DMA CFD broker
- Users appreciate how easy it is to download their full list of global DMA stocks. They can also view the information on global CFDs and make trades on futures, equities, commodities, and currencies.
- There are multiple ways to receive custom trade alerts and news, which include SMS< email, and through the platform itself. Trade alerts include that of the ASX, NEwswire, and Dow Jones.
- There are over 55 technical indicators available to pick trades and find opportunities
FP Markets has also built and developed comprehensive courses for beginner, intermediate and advanced traders through video tutorials and Ebooks to further educate their users, on top of excellent customer service.
Regulated in Australia Since 2005
Since 2005, FP markets has been an Australian Securities and Investment Commission (ASIC) regulated broker. This title calls for the requirement of deposits being held in a segregated account from the Australian forex broker. This ensures that in the unlikely event that if FP Markets had liquidity issues, the client’s funds would remain protected and returned to the trader, so they wouldn’t have to worry about whether their capital is at risk. As a matter of fact, they have an additional policy to maintain twice the required capital required of a CFD broker. The forex broker’s AFS Licence Number is 286354.
Diverse Range of Payment Methods
FP Markets offers its clients a variety of deposit/withdrawal methods: via credit/debit card, bank wire, BPAY, AstroPay, Neteller, Skrill, and POLi. FP Markets does not charge any fees for processing Australian withdrawals. However, there is a $20 per transaction for International bank transfers and 1.8% for credit cards are payable to banks & Credit card companies.
FP Markets Understands What Traders Need
According to actual forex trader reviews, what sets FP Markets apart from its competitors is their deep understanding of what traders need. FP Markets has full knowledge that the combination of pricing, execution speed, platforms, product range, client support and market analysis are the key ingredients that offer clients the confidence they require to trust and trade with a broker.
FP Market’s outstanding 24/5 multilingual service has led to it having the most satisfied clients 5 years running and being awarded ‘The Highest Overall Client Satisfaction Award,’ Investment Trends 2016 Australia CFD Report.
FP Markets combines state of the art technology with low-cost true ECN pricing and a huge product offering to create a genuine destination for all types of traders to minimise high risks. They also offer the best leverage levels, which is 500:1 which trading currencies. This means users will be able to borrow 500 times their deposit on forex to further amplify any potential profit (or losses) from small market movements. The same leverage applies to precious metals CFD trading while all other financial products have lower leverage, such as 100:1 for indices and 50:1 for oil. It’s important to remember that high leverage inherently increases the risks of trading. For instance, a 0.2% change in a currency pairing at 500:1 will lead to a trader doubling their profit (before fees) or losing the whole amount, with additional slippage leading to a negative result. It’s highly recommended to understand the risks involved around leverage and acquire experience accordingly. As such, we also recommend their services for intermediate or expert forex traders.
It provides some of the most advanced platforms for all levels of traders, as well as apps for iOS and Android so data can be accessed on-the-go in real-time. FP Markets offers its users the convenience of being able to trade CFDs across equities, Forex, indices, commodities, futures and Bitcoin- all from one account that acts as a full suite of trading products including financial instruments. Opening a demo account will give you a good taste of what an outstanding cross-platform service FP Markets is. This can be done across their IRESS and MT4 trading platforms and will let users experiment with $50K in virtual funds. It’s important to understand beforehand that there will be a few differences between a demo account compared to an actual live account.
FP Markets Is Award Winning
FP Markets won numerous first-place awards from the Investment Trends Report for most satisfied traders, best trade execution, best educational material, and best customer service.
Their online training programs offer insights for forex traders of all levels. They also offer webinars every Monday for attendees to get a better grasp of the hot spots across the markets to trade. These webinars cover all there is to know about currency trading and discuss which ones are expected to be volatile, as well as upcoming news events that have the potential to impact the market. The trade execution of FP Markets is considered the best because their trade servers are close to where the liquidity providers are in New York and London, and latency speeds are reduced across borders thanks to fibre optics. Their multilingual customer service team is located in Sydney and offers face-to-face customer support.
The forex market has a lot to gain from a service such as FP Markets, especially if a trader is interested in a wide range of markets in addition to currencies. While we don’t recommend it for novice traders, we strongly recommend it for intermediates and experts in forex trading.