FP Markets vs FXCM: Which One Is Best?
While FP Markets have more Forex pairs with 64 (vs 45) and lower spreads (from 0.0 pips), FXCM has more trading platforms (TradingView, MetaTrader 4). Read our FP Markets vs FXCM review to find the best Forex broker.
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*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations
*CFD trading is not available in the USA due to NFA and CFTC regulations, American traders spot trade in place of CFDs.
Our full comparison covers the 10 most important trading factors. Here are five key differences:
- FP Markets offers more Forex pairs (64) compared to FXCM’s 45.
- FP Markets has lower spreads starting from 0.0 pips, while FXCM’s spreads vary.
- FXCM provides a broader range of trading platforms, including TradingView and MetaTrader 4.
- FP Markets requires a minimum deposit of $100, whereas FXCM demands $50.
- FP Markets offers a swap-free account, while FXCM does not provide this option.
1. FP Markets: Lowest Spreads And Fees
To compare these brokers, we will be looking at the accounts offered, which include standard and commission accounts. These accounts have different fee structures, so are suitable for different trading styles.
| Standard Account | FP Markets Spreads | FXCM Spreads | Industry Spreads |
|---|---|---|---|
| Overall Average | 1.38 | 1.48 | 1.6 |
| EUR/USD | 1.2 | 1.3 | 1.2 |
| USD/JPY | 1.5 | 1.1 | 1.4 |
| GBP/USD | 1.4 | 1.8 | 1.6 |
| AUD/USD | 1.3 | 0.7 | 1.5 |
| USD/CAD | 1.4 | 1.3 | 1.8 |
| EUR/GBP | 1.2 | 1.1 | 1.5 |
| EUR/JPY | 1.4 | 1.9 | 1.9 |
| AUD/JPY | 1.6 | 2.6 | 2.1 |
Standard Account Analysis Updated April 2025[1]April 2025 Published And Tested Data
Try the FXCM vs FP Markets fee calculator below based on the most popular forex pairs and base currencies.
| | USD | AUD | GBP | EUR |
|---|---|---|---|---|
| FP Markets | $3.00 | N/A | £2.25 | €2.75 |
| FXCM | $4.00 | $4.00 | N/A | N/A |
|
Standard Account Spreads
|
|||||
|---|---|---|---|---|---|
|
1.10 | 1.20 | 1.30 | 1.30 | 1.30 |
|
1.30 | 1.70 | 2.10 | 1.40 | 1.50 |
|
1.13 | 1.01 | 1.71 | 1.66 | 1.12 |
|
1.20 | 0.90 | 1.50 | 1.80 | 1.80 |
|
1.20 | 1.40 | 1.50 | 1.60 | 1.50 |
|
1.20 | 1.80 | 1.90 | 1.90 | 1.60 |
|
1.32 | 1.95 | 1.37 | 1.70 | 1.40 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 04/01/2025
Our Lowest Spreads and Fees Verdict
The winner of the account comparison is FP Markets. They have tighter average spreads as well as the swap-free account option. If you’re trading high-volume, you might want to go with FXCM, but for all other purposes, we recommend FP Markets.
FP Markets ReviewVisit FP Markets
2. FXCM: Better Trading Platform
While both brokers have MetaTrader 4, FXCM offers a larger range of trading platforms overall.
| Trading Platform | FP Markets | FXCM |
|---|---|---|
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | Yes | No |
| cTrader | Yes | No |
| TradingView | Yes | Yes |
| Copy Trading | Yes | Yes |
| Proprietary Platform | Yes | Yes |
Our Better Trading Platform Verdict
FXCM and FP Markets have very similar platforms and tools, but FXCM emerged as the winner in this category. While FXCM doesn’t have MetaTrader 5, it offers a range of very useful tools for traders.
*Your capital is at risk ‘67% of retail CFD accounts lose money’
3. FP Markets: Superior Accounts And Features
FXCM Account Offerings
FXCM provides over 40 forex pairs, including popular options like USD/EUR and USD/JPY. They also have 7 cryptocurrency pairs available, but this option is not available for Canadian residents. FXCM’s Active Trader account, designed for high-volume traders, uses tiered commissions and requires a minimum deposit of $25,000.
Leverage Differences
Australian and European retail traders can trade Major Forex pairs with FP Markets at 1:30 leverage and minor and exotics at 1:20. In contrast, FXCM offers 1:30 for retail in Australia, Europe, and the UK, with higher leverage options available for professional traders and those outside these regions.
| FP Markets | FXCM | |
|---|---|---|
| Standard Account | Yes | Yes |
| Raw Account | Yes | Yes |
| Swap Free Account | Yes | Yes |
| Active Traders | Yes | Yes |
| Spread Betting (UK) | No | Yes |
Our Superior Accounts and Features Verdict
While both brokers offer solid account features, FP Markets stands out with its diverse forex pairs and zero-pip spreads, making it the preferable choice for traders seeking superior account types.
4. FP Markets: Best Trading Experience And Ease
FP Markets has an intuitive interface that is user-friendly and specifically designed for beginners. Traders never have to worry about missing important moments thanks to the platform’s quick responsiveness. On the other hand, FXCM’s platform is rich, offering a plethora of tools and charts that cater to both novice and seasoned traders.
- Platform Diversity: While both brokers offer MetaTrader 4, FXCM provides a broader range of platforms, including their proprietary Trade Station and TradingView.
- User Experience: Our testing revealed that FP Markets offers a more streamlined and intuitive user experience, especially for newcomers.
- Execution Speed: Based on our data, FP Markets has a slight edge when it comes to order execution speed, ensuring minimal slippage.
- Customisation Options: FXCM shines in this department, offering traders a myriad of customisation options to tailor their trading environment.
| | Limit Order Speed | Limit Order Global Rank | Market Order Speed | Market Order Global Rank |
|---|---|---|---|---|
| FP Markets | 225ms | 31/36 | 96ms | 8/36 |
| FXCM | 108ms | 28/36 | 189ms | 29/36 |
Both brokers have their strengths. FP Markets is user-friendly with swift execution, while FXCM impresses with platform diversity and customisation features.
Our Best Trading Experience and Ease Verdict
FP Markets offers a blend of user-friendliness and efficient trading tools for the best overall trading experience.
5. FXCM: Stronger Trust And Regulation
FXCM has a higher trust score of 78 versus the 61 points scored by FP Markets in our analysis. The decision was influenced by a few key factors such as the regulation of the brokers, their reputation, and the reviews they have received.
FXCM Trust Score
FP Markets Trust Score
Broker’s Regulation
FP Markets is regulated by entities such as ASIC (Australia), CySEC (EU), and FSCA (South Africa). FXCM, however, is governed by more regulatory entities, including ASIC (Australia), FCA (UK), and CySEC (EU), suggesting a broader regulatory oversight.
| FP Markets | FXCM | |
|---|---|---|
| Tier 1 Regulation | ASIC (Australia) CYSEC (Cyprus) | ASIC (Australia) FCA (UK) CYSEC (Cyprus) CIRO (CANADA) BaFin (Germany) |
| Tier 2 Regulation | FSCA (South Africa) ISA (Israel) |
|
| Tier 3 Regulation | FSA-S (Seychelles) FSC-M (Mauritius) FSCA (South Africa) |
FP Markets is regulated by the following:
- Australian Securities and Investments Commission (ASIC), in Australia
- The Cyprus Securities and Exchange Commission (CySEC) gives coverage for the EU
- Financial Sector Conduct Authority (FSCA) in South Africa
- Financial Services Authority (FSA) in Seychelles
- Financial Services Commission(FSC) in Mauritius
If you are outside Australia or the European Union, you will be joining the FP Markets subsidiary based in St Vincent and the Grenadines. This country doesn’t have a Forex regulator, which means FP Markets regulated itself. You will find the broker applies regulation in line with the standard set by ASIC.
FXCM have more regulators covering a range of jurisdictions in five countries. They are governed by more regulatory entities than FP Markets, which include the UK, Canada and South Africa.
- Australian Securities and Investments Commission (ASIC) in Australia
- The Financial Conduct Authority (FCA) in the United Kingdom
- The Cyprus Securities and Exchange Commission (CySEC) gives coverage for the EU
- The Investment Industry Regulatory Organisation (IIROC) in Canada
- The Financial Sector Conduct Authority (FSCA) in South Africa
- Israeli Securities Authority (ISA) in Israel
- German Federal Financial Supervisory Authority (BaFin) in Germany
Reputation
FP Markets has been around since 2005, with headquarters in Sydney, Australia. FXCM is much older, having been established in 1999 in New York, USA.
FXCM gets searched monthly in Google around 38,100 times, while FP Markets gets 27,100 hits.
Reviews
FP Markets received excellent marks on TrustPilot, gaining a 4.9/5.0 score from 5,478 reviews. While FXCM only garnered 455 reviews, they did well with a score of 4.5 out of 5.
Our Stronger Trust and Regulation Verdict
In this comparison, we will give FXCM the winning verdict for regulation. They have more regulators suggesting that they aim for more reputable practices as a forex broker.
*Your capital is at risk ‘67% of retail CFD accounts lose money’
6. FP Markets: Top Product Range And CFD Markets
FP Markets have a comprehensive range of major, minor and exotic forex pairs, with 63 available in total. If you prefer trading shares, MT5 is a better option than MT4 with its 814 shares and IRESS platform offering over 10,000 shares to trade. A well-rounded broker, FP Markets offers a great selection of cryptocurrencies, indices, bonds/treasuries and ETFs.
Australian and European retail traders can trade Major Forex pairs with 1:30 and minor and exotics with 1:20. Traders outside of Australia and the European Union, including those in the UK, who are comfortable with high-risk trading will have access to leverage up to 1:500.
FXCM has over 40 pairs available, including popular options such as the USD/EUR and USD/JPY pairs. They offer 7 cryptocurrency pairs, including Bitcoin, but these are not available to Canadian residents.
| CFDs | FP Markets | FXCM |
|---|---|---|
| Forex Pairs | 63 | 42 |
| Indices | 19 | 16 |
| Commodities | 4 Metals (vs USD, AUD, EUR) 4 Energies 5 Softs | 3 Metals 5 Energies 3 Softs |
| Cryptocurrencies | 12 | 7 |
| Shares CFDs | 10000+ (with IRESS) 814 (with MT5) | 219 |
| ETFs | 46 | No |
| Bonds | 2 | 1 |
| Futures | No | No |
| Treasuries | 2 | 1 |
| Investment | No | No |
Forex Leverage with FXTM depends on which subsidiary of FXCM you join:
- FXCM entities in Australia, Europe and the UK have 1:30 for retail and 1:500 for pro
- Friedberg Direct for Canada limits leverage to 1:50 (usually lower)
- South Africa, The UK and countries outside Australia and the EU can trade with 1:400 leverage.
Our Top Product Range and CFD Markets Verdict
FP Markets is the winner in this comparison. This is because they have more forex pairs available to trade, including ETFs and fewer limitations based on locality. We believe traders will benefit from this extensive range.
7. FP Markets: Superior Educational Resources
FP Markets:
- Offers a comprehensive range of educational resources, including webinars, eBooks, and video tutorials.
- Provides a dedicated section on their website for trader education.
- Their resources cater to both beginners and advanced traders.
- Regularly updates its content to keep traders informed about the latest market trends.
- Collaborates with industry experts to provide insightful educational content.
- Has a user-friendly interface that makes it easy for traders to access and navigate through their educational resources.
FXCM:
- Provides a variety of educational materials such as trading guides, video courses, and seminars.
- Features a rich library of articles covering various trading topics.
- Their educational content is designed to help traders of all skill levels.
- Offers regular webinars hosted by experienced market analysts.
- Prioritises the continuous education of its clients by frequently updating its resources.
- Has a dedicated support team to assist traders with any educational queries.
Our Superior Educational Resources Verdict
FP Markets scores higher in educational resources, making it the superior choice for traders seeking comprehensive learning materials.
8. FP Markets: Superior Customer Service
In the world of forex trading, the quality of customer service can determine a trader’s experience. FP Markets and FXCM recognise its importance and have invested considerably in their customer support infrastructure.
FP Markets prides itself on its efficient customer service and knowledgeable support team. They’ve ensured that traders have multiple channels to reach out, be it through live chat, email, or phone. FXCM has a global support team available in various regions, offering timely assistance to traders.
The table below highlights the key customer service features of each broker:
| Feature | FP Markets | FXCM |
|---|---|---|
| Live Chat Support | Yes | Yes |
| Email Support | Yes | Yes |
| Phone Support | Yes | Yes |
| Support Hours | 24/7 | 24/5 |
| Multilingual Support | Yes | Yes |
Both brokers provide excellent customer support, but their services differ in subtle ways. Each broker has its own strengths, whether it’s the availability of live chat, fast email responses, or a dedicated account manager.
Our Superior Customer Service Verdict
FP Markets edges out slightly, offering a more comprehensive and responsive customer support experience.
9. FP Markets: Better Funding Options
Both FP Markets and FXCM provide various funding options to meet the diverse needs of their clients. FP Markets provides a broader range of options, including bank wire transfers, credit/debit cards, and several e-wallets.
On the other hand, FXCM has a more limited selection of funding methods compared to others. It’s essential for traders to have multiple funding options at their disposal, as it allows for flexibility and convenience, especially when dealing with international transactions.
The table below provides a detailed comparison of the funding options available for both brokers:
| Funding Option | FP Markets | FXCM |
|---|---|---|
| Credit Card | Yes | Yes |
| Debit Card | Yes | Yes |
| Bank Transfer | Yes | Yes |
| PayPal | Yes | Yes |
| Skrill | Yes | Yes |
| Neteller | Yes | Yes |
| Crypto | Yes | Yes |
| Rapid Pay | No | No |
| POLi / bPay | Yes | Yes |
| Klarna | No | No |
Our Better Funding Options Verdict
Based on the available funding options, FP Markets offers a more diverse and comprehensive range compared to FXCM.
10. FXCM: Lower Minimum Deposit
FXCM has a lower minimum deposit of $50 against the $100 set by FP Markets. Do note that FXCM has different minimum deposit requirements depending on the account type you are using.
In general, here are the available funding methods by FXCM:
| GBP | USD | EUR | AUD | |
|---|---|---|---|---|
| Credit Card / Debit Card | £50 Minimum Deposit | $50 Minimum Deposit | €50 Minimum Deposit | $50 |
| Bank Wire | £50 Minimum Deposit | $50 Minimum Deposit | €50 Minimum Deposit | $50 |
| Skrill | £50 Minimum Deposit | $50 Minimum Deposit | €50 Minimum Deposit | $50 |
| Neteller | £50 Minimum Deposit | $50 Minimum Deposit | €50 Minimum Deposit | $50 |
In the same manner, FP Markets’ minimum deposit requirement is global:
| GBP | USD | EUR | AUD | |
|---|---|---|---|---|
| Credit Card / Debit Card | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| Paypal | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| Bank Wire | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| Skrill | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| | Minimum Deposit | Recommended Deposit |
| FP Markets | $100 | $100 |
| FXCM | $50 | $50 |
Our Lower Minimum Deposit Verdict
The winner of this category is FXCM because of their lower minimum deposit requirement of $50. However, we think that the difference in amounts between the two brokers should not be a significant factor when deciding which one to trade with.
Is FXCM or FP Markets The Best Broker?
FP Markets is the winner because of its comprehensive offerings across multiple categories, including lower spreads, superior educational resources, and better funding options. The table below summarises the key information leading to this verdict:
| Criteria | FP Markets | FXCM |
|---|---|---|
| Lowest Spreads And Fees | Yes | No |
| Better Trading Platform | No | Yes |
| Superior Accounts And Features | Yes | No |
| Best Trading Experience And Ease | Yes | No |
| Stronger Trust And Regulation | No | Yes |
| Top Product Range And CFD Markets | Yes | No |
| Superior Educational Resources | Yes | No |
| Superior Customer Service | Yes | No |
| Better Funding Options | Yes | No |
| Lower Minimum Deposit | No | Yes |
FP Markets: Best For Beginner Traders
FP Markets is the ideal choice for beginner traders due to its user-friendly platform and extensive educational resources.
FXCM: Best For Experienced Traders
For seasoned traders, FXCM offers a more advanced trading environment with a robust platform and diverse product range.
FAQs Comparing FP Markets Vs FXCM
Does FXCM or FP Markets Have Lower Costs?
FP Markets generally offers lower costs compared to FXCM. They boast competitive spreads, often starting from as low as 0.0 pips. This cost efficiency can significantly impact a trader’s profitability in the long run. For a more detailed breakdown of brokers with low commissions, you can check out this comprehensive guide on Lowest Commission Brokers.
Which Broker Is Better For MetaTrader 4?
Both FP Markets and FXCM offer MetaTrader 4, but FP Markets provides a more streamlined experience with additional tools and features. MetaTrader 4 is a popular choice among traders globally, and its versatility is unmatched. If you’re keen on exploring more about the best MT4 brokers, this detailed review of top MT4 brokers might be of interest.
Which Broker Offers Social Trading?
FXCM offers social trading features, allowing traders to mimic the strategies of seasoned professionals. Social or copy trading can be an excellent way for beginners to learn and for experienced traders to diversify their strategies. If you’re interested in diving deeper into the world of social trading, here’s a comprehensive list of the best social trading platforms.
Does Either Broker Offer Spread Betting?
FXCM offers spread betting, a popular trading method in the UK. Spread betting allows traders to speculate on price movements without owning the underlying asset. It’s tax-free in the UK and offers a unique way to engage with the markets. For those interested in exploring spread betting further, here’s a detailed guide on the best spread betting brokers in the UK.
What Broker is Superior For Australian Forex Traders?
In my opinion, FP Markets stands out for Australian forex traders. Not only is it ASIC regulated, ensuring a high level of trust and security, but it’s also an Australian-founded broker. This local foundation means they have a deep understanding of the Australian market and its traders’ needs. Their offerings are tailored to suit the unique requirements of Aussie traders. For a broader perspective on the best brokers in Australia, you might want to check out this comprehensive list of the Best Forex Brokers In Australia.
What Broker is Superior For UK Forex Traders?
From my perspective, FXCM is a superior choice for UK forex traders. They are FCA regulated, which brings a significant level of trust and security for UK-based traders. While they are not founded in the UK, their global presence and adherence to FCA regulations make them a reliable choice for UK traders. Their platform offerings and customer service are tailored to cater to the unique needs of the UK market. For more insights on the best brokers in the UK, here’s a detailed review of top UK forex brokers.
Article Sources
No commission account spread propiety testing data and published wesbite spread information, centralised on our Standard Account Spreads page.
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