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FP Markets – Forex Broker Review 2022

About FP Markets

FP Markets is a regulated online forex broker. The company was first established in 2005 and they have grown into a large, global forex broker. Their offering is based on their deep understanding of what traders really need. As a result, they offer an award-winning service with great pricing, fast execution speed, cutting-edge platforms, and fantastic trading support.

As a regulated forex broker, FP Markets provides a safe trading environment and a high level of client fund protection. They offer easy market access and convenient trading. They offer CFDs across forex, indices, metals, and more. FP Markets also offers a great choice of live accounts. You can choose from 3 different account types – all of which come with tight spreads and low trading costs.

If you’re looking for great trading tools, then FP Markets is a suitable choice. They have a great selection of tools including trading calculators, premium trading tools, and VPS services. They also have free educational resources and webinars. If you’re looking for great customer service too, then you’ll be glad to know FP Markets has a helpful customer support team.

Key Benefits


FP Markets is the brand name for a group of forex companies. While this might seem like an unusual setup, it allows them to offer operate under more regulatory supervision and offer a better overall service. The group has three registrations and licenses all together. These come from some of the strictest regulators in the world. Here are the full details:

  • ASIC Licence – They have a licence from Australian Securities and Investment Commission.
  • CySEC Licence – The group has a licence with the Cyprus Securities and Exchange Commission.
  • SVG Registration – The group has a registration with authorities in St. Vincent & the Grenadines.

Traders from Nigeria come under the SVG entity. While this entity has less formal regulatory requirements, it is a highly reputable company offering a great level of client fund protection. All their benefit from negative balance protection and other important security measures.

Trading Instruments

FP Markets has an excellent choice of trading instruments. You can choose from over 10,000 CFDs products across forex, shares, metals, indices, commodities & cryptocurrencies.

  • Forex: They offer access to 60+ forex pairs in all the top-performing currencies, 24 hours a day, 5 days a week. You can trade major, minor, and exotic forex pairs.
  • Shares: You can trade CFDs on the world’s most famous companies across global markets and benefit from price movements in any direction.
  • Metals: They allow trading on the spot market for metals including Gold or Silver against the US Dollar or Australian Dollar as a currency pair.
  • Indices: You can trade CFD indices from across the world at margins starting at just 5%. They let you trade overseas indices with access to NASDAQ 100, S&P 500, EUREX, and more.
  • Cryptocurrencies: They allow trading on the top 5 most traded cryptocurrencies on the cryptocurrency market – Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.

Trading Platforms

FP Markets offers MT4, MT5, WebTrader, and its own FP Markets Trading App.


MetaTrader4 (MT4) is a great option for new forex traders in Nigeria. It has a user-friendly interface and comes with lots of useful trading tools. You can use it to get access to most trading instruments including forex, stocks, and indices. The FP Markets MT4 platform has charting tools, 4 order execution types, 30 technical indicators, and 23 analytical objects. You can use these trading tools to carry out your market analysis and implement your trading strategies.


MetaTrader5 (MT5) is also a great platform for beginner traders. It has a simple interface and comes with many built-in trading tools. You access and trade all of the top financial markets including forex, shares, and crypto. It very easy to use and to navigate. The MT5 trading platform also has many important features including 6 order execution types, 38 indicators, and 37 analytical objects. You can use these trading tools to enhance your analysis and improve your results.


FP Markets Account Types

FP Markets has three main account types – its Standard Account, its Raw Account, and its Pro Account. It also has a demo account for new traders who want to practise trading before opening a live account.



Minimum Deposit

Max. Leverage



From 0.0 pip

All Available



From $0 per lot


From 0.0 pip

All Available



From $0 per lot


From 0.0 pip

All Availabe



From $0 per lot

Standard Account

This is the best account option for new forex traders in Nigeria. It has a minimum spread of 1.0 pips and there are no commissions. It also comes with high leverage of up to 1:30. The FP Markets minimum deposit for this account is $50. It includes access to all of their educational resources and online trading tools. The available base currencies are USD, EUR, and GBP.

Raw Account

This the best account option for more experienced traders in Nigeria. It has tight spreads starting from 0.0 pips. It is important to keep in mind, however, that there are commissions. This account also comes with high leverage of up to 1:30. The required minimum deposit is $50. It includes access to all of their educational resources and online trading tools. The available base currencies are USD, EUR, and GBP.

Pro Account

This account is only suitable for professional traders. The FP Markets Pro Account has tight spreads and flexible leverage. It includes access to all of the free market analysis and online trading tools. It also includes access to a Personal Account Manager. The available base currencies are USD, EUR, and GBP. If you choose to apply for a Pro account, you will need to prove you meet the minimum criteria.

Deposits & Withdrawals

FP Markets accepts many payment methods including debit cards, credit cards, and bank wire transfers. It also accepts other methods such as Paypal, Neteller, and Skrill. If you don’t have accounts with any of those companies, you can also try Sofort, and GiroPay.

Fund Safety

FP Markets takes client fund safety very seriously. It keeps client funds in segregated accounts, separate from its own funds. It also ensures that client funds are not used for company purposes.

Trading Tools

FP Markets offers many helpful trading tools. There are many options available depending on your knowledge, experience and your preferred trading style.

Economic Calendars

They offer a free economic calendar to help you stay on top of market trends. It covers all of the most important economic data releases from around the world. The calendar also includes detailed explanations and forecasts of each data release. As such, it makes analysing the markets and predicting price movements much simpler.

Trading Calculators

They have a range of trading calculators that can use to plan your trades, manage your risk, and implement more effective trading strategies. The available trading calculators include a pip calculator, a Fibonacci calculator, a currency calculator and a pivot calculator.

Traders ToolBox

FP Markets also offers a Traders Toolbox. These tools are great for managing trades and for carrying out market analysis. It includes the Alarm Manager, Correlation Trader, Correlation Matrix, and Excel RTD. It also comes with Market Manager and Stealth Orders, as well as Tick Chart, and the Session Map. If you’re looking for other options, you can also try other tools like their Trade Terminal, Mini Terminal, and Sentiment Trade tools.



FP Markets offers online live webinars, podcast, trading eBooks, and video tutorials.

Extra Trading Services

FP Markets offers a VPS service. This means you can benefit from lower latency, faster execution, and less slippage. It is available for free if you trade over 10 lots on a standard trading account. It also free if you trade 20 lots on their Raw account.

VPS Services

A VPS service is suitable for Nigerian traders who want more stability and faster trading. This because it enables you to trade with better technical conditions and more consistent connectivity. You can use the service to run automated algorithmic strategies, including Expert Advisors, on a virtual machine. You can also use it to minimize your risk of system downtime due to unexpected power failures, Internet cuts, physical difficulties, and computer shutdowns.

Industry Awards

FP Markets works hard to provide a good service and to meet client expectation. They have a great reputation and they are also an award-winning brand. Over the years, they have won more than 40 forex industry awards including best customer service and most satisfied traders.


As part of the account opening process, you need to provide FP Markets with proof of ID and proof of address. For proof of ID, they will accept copies of your passport or your driver’s licence. As proof of address, they will accept recent utility bills, or recent bank account statements.

FP Markets Customer Support

The FP Markets Customer Support team is available via live chat, email, or phone. You can also get in touch with them using the contact us form on their website.


The FP Markets brokerage is an award-winning forex broker that offers excellent trading conditions and a wide range of trading instruments. Its high quality educational materials and trading support make it a suitable choice for new traders. Similarly, its excellent trading tools and cutting-edge trading technology make it a good choice for experienced traders as well.

Ready to start trading? Register for an online trading account with FP Markets.