Written by ForexBrokers.com
In this head to head comparison of FXCM vs FP Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXCM, established in 1999, and FP Markets, founded in 2005, are both well-regarded online brokers catering to forex traders. One major distinction between the two is that FXCM is publicly traded, providing an added layer of transparency, while FP Markets is privately held. Neither broker is a bank, ensuring they focus on trading services. In terms of regulatory oversight, FXCM holds four Tier-1 licenses and two Tier-2 licenses, which contribute to its impressive Trust Score of 95, indicating it's highly trusted.
FP Markets, on the other hand, holds two Tier-1 licenses and one Tier-2 license, earning it a still respectable Trust Score of 89, marking it as trusted. This comparison highlights that both brokers are reliable choices, with FXCM having the edge due to its higher trust rating and public company status.
| Feature |
FXCM
|
FP Markets
|
|---|---|---|
| Year Founded | 1999 | 2005 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 2 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
FXCM and FP Markets demonstrate distinct differences in their commission and fee structures, each appealing to diverse trading needs. FXCM offers forex trading with pricing slightly above the industry average. While standard account spreads average 0.78 pips on the EUR/USD pair for its EU, U.K., and Australia markets, its St. Vincent and the Grenadines entity presents higher spreads at 1.38 pips. However, FXCM’s commission-based accounts offer notably lower spreads at 0.28 pips but incur an effective spread close to 0.74 pips once commission fees are included. FXCM also provides Active Trader Rebate Programs with discounts based on trading volume, though these benefits vary by region. FXCM earns 4 stars for commissions and fees and ranks 24th out of 62 brokers in this category according to ForexBrokers.com.
FP Markets, on the other hand, is recognized for its competitive pricing, especially through its MetaTrader and cTrader platforms, which contribute to its high global standing. Its Raw ECN account delivers attractive spreads averaging 0.1 pips, with an all-in cost of 0.8 pips after commissions. The broker’s Standard account, however, features higher spreads averaging 1.1 pips for EUR/USD trades. FP Markets also offers Direct Market Access through its Iress platform, although this comes with higher fees aimed at active, high-balance traders. For its exceptional commission and fee structure, FP Markets garners a 5-star rating and is ranked 6th among 62 brokers, proving its prowess in cost efficiency for traders.
In conclusion, while both FXCM and FP Markets have their strengths, FP Markets stands out as a more affordable and celebrated option for traders seeking low-cost solutions, particularly in the commission-based ECN account offering. Meanwhile, FXCM, with its rebate programs, remains a viable choice for traders who can navigate and leverage the discounts effectively. Each broker caters to distinct trading profiles with its unique fee structures, appealing to both budget-conscious and more active traders.
| Feature |
FXCM
|
FP Markets
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $100 AUD |
| Average Spread EUR/USD - Standard | 0.78 | 1.2 |
| All-in Cost EUR/USD - Active | 0.78 | 0.7 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing FXCM and FP Markets for their range of investments, there are notable differences that cater to varied trading needs. FXCM offers a respectable lineup with 440 tradeable symbols, including 43 forex pairs, and supports forex trading as both a CFD and spot contract. However, it falls short when it comes to offering exchange traded securities, with no access to U.S. or international exchanges for direct stock purchases. On the other hand, FP Markets impresses with a much broader selection, boasting 10,000 tradeable symbols and 71 forex pairs, also facilitating forex trading through CFDs and spot contracts. Like FXCM, it does not provide direct access to stocks on U.S. or international exchanges.
Both brokers offer copy trading and the ability to trade cryptocurrency derivatives, though neither allows the purchase of actual cryptocurrencies. Based on their range of investment offerings, FP Markets is rated higher with 4.5 out of 5 stars and ranks 18th out of 62 brokers according to ForexBrokers.com. FXCM, while still competitive, receives a 3.5-star rating and is ranked 47th. This comparison highlights FP Markets' extensive range of investment options, making it a potentially more appealing choice for those seeking a wider array.
| Feature |
FXCM
|
FP Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 10000 |
| Forex Pairs (Total) | 43 | 71 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
Both FXCM and FP Markets offer traders a variety of platforms and tools designed to enhance the trading experience. Each provides a proprietary platform, as well as popular third-party options like MetaTrader 4 (MT4). However, FP Markets supports MetaTrader 5 (MT5), giving it a slight edge for those who favor more advanced platform versions. Both brokers allow trading directly from stock charts and offer web-based platforms for convenient access from anywhere. While FXCM also provides ZuluTrade for copy trading enthusiasts, FP Markets lacks this option.
When comparing charting tools, FP Markets offers 17 drawing tools, surpassing the 10 provided by FXCM. Despite this, FXCM leads in overall platform rating with a five-star score, compared to FP Markets' four stars. In terms of rankings by ForexBrokers.com among 62 brokers for Trading Platforms and Tools, FXCM stands out at #6, while FP Markets ranks at #23. Both brokers support virtual demo accounts, making it easy for beginners to practice before committing real funds. Additionally, FXCM outperforms with 13 watchlist fields, almost double the 7 fields offered by FP Markets.
| Feature |
FXCM
|
FP Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Drawing Tools (Total) | 10 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both FXCM and FP Markets provide iPhone and Android users with the ability to trade on-the-go. Each app supports stock and forex price alerts, multiple time frames for chart viewing, and the drawing of trendlines on charts. While both offer the creation of watchlists with real-time quotes, FXCM stands out with watchlist symbol syncing, allowing your watchlists to sync seamlessly with your online account, a feature FP Markets doesn't provide.
FXCM's app is rich in technical studies, offering 59 options for charting compared to FP Markets, which provides default studies via MetaTrader. Both platforms ensure that chart drawings are auto-saved, making the user experience smooth. In terms of user ratings, FXCM scores 4.5 stars while FP Markets comes in slightly lower at 4 stars. Ranked by ForexBrokers.com, FXCM comes in at #16 out of 62 brokers, whereas FP Markets ranks at #18, reflecting their user experiences and functionality differences.
| Feature |
FXCM
|
FP Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | MetaTrader (Default) |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research offerings, both FXCM and FP Markets provide daily market commentary and access to forex news from reputable sources like Bloomberg and Reuters. Users can leverage Trading Central tools for technical analytics on both platforms, while each also offers sentiment-based trading tools to display the ratio of long and short positions across currency pairs. However, there are some key differences: FXCM provides market research from TipRanks, a service absent from FP Markets. On the other hand, FP Markets caters to users interested in Autochartist tools, which FXCM does not offer.
Both brokers feature economic calendars to keep traders informed about global news events. Overall, FXCM seems to have a slight edge with a research rating of 4.5 stars, placing them 11th among 62 brokers in the Research category according to ForexBrokers.com. FP Markets, while still strong with a 4-star rating, ranks 25th. These distinctions could play a crucial role for traders focused on research-driven strategies.
| Feature |
FXCM
|
FP Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both FXCM and FP Markets provide a wealth of options for new traders seeking to learn about forex and CFDs. Both brokers deliver more than ten educational materials like articles, videos, and webinars focused on forex and CFDs, ensuring beginners have plenty of content to dive into. Monthly online educational webinars are available with both brokers, and they maintain accessible archives for reviewing past sessions. Moreover, for those just starting, each broker supplies at least ten beginner videos and an investor dictionary that breaks down over 50 essential investing terms, which is incredibly helpful for newcomers trying to grasp trading concepts.
FXCM slightly edges out FP Markets with a higher rating of 4.5 stars compared to FP Markets' 4 stars in the education category. FXCM also ranks 14th among 62 brokers for educational offerings, whereas FP Markets is ranked 23rd, per ForexBrokers.com. Both platforms ensure that even advanced traders have access to at least ten educational videos tailored for experienced traders. Therefore, while both brokers provide comprehensive educational resources for traders at all levels, FXCM receives higher recognition for its educational initiatives.
| Feature |
FXCM
|
FP Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that FXCM is better than FP Markets. FXCM finished with an overall rank of #15, while FP Markets finished with an overall rank of #19.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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FP Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 89 |
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Both FXCM and FP Markets provide the option to trade cryptocurrency derivatives rather than actual cryptocurrencies, as neither platform offers the capability to purchase the actual, delivered cryptocurrency.
FXCM offers more flexibility in funding methods, providing ACH, SEPA, PayPal, Skrill, Visa or Mastercard, and bank wire options, while FP Markets supports PayPal, Skrill, Visa or Mastercard, and bank wires, but lacks ACH and SEPA transfer options.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | FXCM | FP Markets | |
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| Trust Score | 95 | 89 | |
| Winner | check_circle | ||
| Review | FXCM Review | FP Markets Review |
| Broker Screenshots | FXCM | FP Markets | |
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| Regulation | FXCM | FP Markets | |
|---|---|---|---|
| Trust Score | 95 | 89 | |
| Year Founded | 1999 | 2005 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 2 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXCM | FP Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FXCM | FP Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FXCM | FP Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 10000 | |
| Forex Pairs (Total) | 43 | 71 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | FXCM | FP Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.78 | 0.7 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | FP Markets | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $100 AUD | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FXCM | FP Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | FXCM | FP Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 10 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | FP Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 59 | MetaTrader (Default) | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FXCM | FP Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | FP Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FXCM | FP Markets | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | FXCM Review | FP Markets Review |
| Overall | FXCM | FP Markets | |
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| Trust Score | 95 | 89 | |
| Winner | check_circle | ||
| Review | FXCM Review | FP Markets Review |
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