Written by ForexBrokers.com
In this head to head comparison of FP Markets vs FXGT.com, 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.
FP Markets, established in 2005, and FXGT.com, founded in 2019, are both online brokers not listed on any stock exchange and are not banks. In terms of regulatory strength, FP Markets holds two Tier-1 licenses and one Tier-2 license, indicating a strong level of trust. FXGT.com, on the other hand, has one Tier-1 license and one Tier-2 license, suggesting it's reliable but not as highly regarded as FP Markets. According to ForexBrokers.com, FP Markets earns a Trust Score of 89, placing it in the "trusted" category, while FXGT.com scores 69, ranking it as high risk.
Choosing between these two brokers depends on one’s preference for established history and regulatory backing. FP Markets, with its longer presence in the industry and higher Trust Score, may appeal more to those who prioritize trust and stability. Meanwhile, FXGT.com, with solid regulatory oversight, might attract those who are willing to consider brokers that are newer to the market. Both brokers provide trustworthy trading environments, but FP Markets edges ahead with a more favorable and reliable reputation.
| Feature |
FP Markets
|
FXGT.com
|
|---|---|---|
| Year Founded | 2005 | 2019 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
FP Markets distinguishes itself as one of the most cost-effective online brokers for traders globally, particularly through their commission-based ECN account. Notably, FP Markets has been awarded Best in Class for Commissions and Fees in the 2024 Annual Awards, reflecting their competitive pricing strategies. Their share CFD offering on the Iress platform provides Direct Market Access, adding to the appeal for high-balance, active traders. However, the Iress ViewPoint account, while offering full market depth, comes with higher fees suited for those with significant trading activity. For more budget-conscious traders, the Iress Investor Account is available, though it lacks features such as streaming data.
Comparatively, FXGT.com ranks lower in the Commissions and Fees category, with a 3.5-star rating. Unlike FP Markets, FXGT.com lacks readily available average spread data, leaving potential traders with less transparent cost insights. This places FXGT.com at a disadvantage in commission-related rankings, sitting at #55 out of 62 brokers, while FP Markets enjoys a more favorable position at #6.
Ultimately, FP Markets shines with its wide range of account options, such as the preferred Raw ECN account and the cost-saving Iress Investor account, making it an attractive choice for both seasoned and cost-aware traders. With a 5-star rating for commissions and fees, FP Markets presents detailed cost efficiency, while FXGT.com, with fewer details and options, falls short in comparison.
| Feature |
FP Markets
|
FXGT.com
|
|---|---|---|
| Minimum Deposit | $100 AUD | $5 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investment options between FP Markets and FXGT.com, both brokers offer forex trading capabilities in the form of CFDs or spot contracts. FP Markets stands out with an impressive 10,000 tradeable symbols, while FXGT.com provides access to 117 symbols. In terms of currency trading, FP Markets offers 71 forex pairs as opposed to FXGT.com's 53 pairs, showcasing FP Markets as the more diverse option for forex traders.
Neither FP Markets nor FXGT.com facilitates purchasing exchange-traded securities on U.S. or international exchanges, limiting direct access to stocks like Apple or Vodafone. Both platforms do, however, provide the opportunity for copy trading and accessing cryptocurrency derivatives, although direct purchases of actual cryptocurrencies are unavailable. In the Range of Investments category, FP Markets is rated at 4.5 stars and ranks 18th out of 62 brokers, while FXGT.com has a 3-star rating and ranks 60th, reflecting a broader investment scope at FP Markets.
| Feature |
FP Markets
|
FXGT.com
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 117 |
| Forex Pairs (Total) | 71 | 53 |
| 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.
FP Markets and FXGT.com both cater to traders looking to hone their skills with simulated trading via free virtual demo accounts. When it comes to their trading platforms, FP Markets boasts a proprietary platform uniquely developed in-house, setting it apart from FXGT.com, which does not offer a proprietary platform. Both brokers support widely-used software like MetaTrader 4 and MetaTrader 5, available on Windows-based desktop, web-based interfaces, and include features such as copy trading functionality. However, neither supports platforms like DupliTrade or ZuluTrade.
In terms of charting tools, FXGT.com offers a slightly more extensive suite, with 23 drawing tools compared to FP Markets' 17. Traders who focus on customization for watchlists might prefer FP Markets, which provides seven columns, surpassing FXGT.com's five. Both brokers enable trading directly from stock charts, a convenient feature for active traders. Despite both having similar star ratings of four for their trading platforms and tools, FP Markets is ranked #23 while FXGT.com is positioned lower at #56, indicating a higher preference for FP Markets among brokers reviewed by ForexBrokers.com.
| Feature |
FP Markets
|
FXGT.com
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 37 |
| Charting - Drawing Tools (Total) | 17 | 23 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 5 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of FP Markets and FXGT.com, both brokers provide iPhone and Android apps with a range of functions that cater to traders. Each platform allows users to set up stock or forex price alerts and has the ability to draw trendlines on charts. Users can also view multiple time frames such as daily, weekly, or intraday, and their chart drawings are automatically saved. In terms of creating watchlists with real-time quotes, both FP Markets and FXGT.com excel, but FXGT.com edges out by offering watchlist symbol syncing, which means changes made to watchlists seamlessly sync between the mobile app and the online account, a feature FP Markets lacks.
For traders who rely heavily on technical studies, FXGT.com offers 30 technical indicators, while FP Markets uses the MetaTrader default set of studies. Despite these differences, FP Markets holds a slight advantage with a higher mobile trading app rating of 4 stars compared to FXGT.com's 3.5 stars. This is reflected in their rankings by ForexBrokers.com, where FP Markets is positioned at #18 out of 62 brokers, significantly ahead of FXGT.com, which is ranked at #58. Overall, both apps serve traders well, but FP Markets' superior rating and ranking might make it a more appealing choice for those seeking highly rated mobile trading capabilities.
| Feature |
FP Markets
|
FXGT.com
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 |
| 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 comparing FP Markets and FXGT.com for market research offerings, FP Markets noticeably stands out. FP Markets provides daily market commentary and forex news from top-tier sources like Bloomberg and Reuters, enhancing traders' insight into timely events. The platform also offers technical and fundamental analysis tools from both Autochartist and Trading Central, which are valuable for traders aiming to make informed decisions. Additionally, users can access a sentiment-based trading tool and an encompassing economic calendar, rated highly with four out of five stars for research capabilities.
On the other hand, FXGT.com presents limitations in its research services. It does not offer daily market commentary or forex news from major sources. While it does provide a sentiment-based trading tool and an economic calendar, the absence of popular technical analysis tools from Autochartist and Trading Central can be a drawback for more analytical traders. This is reflected in its three-star research rating and a lower rank of 56 among 62 brokers in the Research category by ForexBrokers.com. Overall, FP Markets offers a more comprehensive suite of research tools, giving it an advantage for those seeking in-depth market insights.
| Feature |
FP Markets
|
FXGT.com
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources of online brokers FP Markets and FXGT.com for beginners, FP Markets clearly provides a more comprehensive learning experience. FP Markets offers an extensive variety of learning materials, including more than 10 articles, videos, and archived webinars focused on forex and CFDs. They host online webinars for clients at least once a month and maintain a searchable archive of past webinars, ensuring that educational content is easily accessible. FP Markets also supports beginners with more than 10 educational videos tailored specifically to their needs and offers an investor dictionary with definitions of over 50 investing terms. This robust offering can help beginners establish a solid understanding of trading.
On the other hand, FXGT.com falls short in providing similar educational resources. The broker lacks a comprehensive collection of educational pieces specifically targeting forex and CFDs, as well as regular online webinars or an archive of recorded sessions. Beginner traders at FXGT.com do not have access to a wide range of educational videos to help them start their trading journey. Although FXGT.com provides an investor dictionary similar to FP Markets, its overall rating and ranking for education are lower. FP Markets scores 4 out of 5 stars and ranks 23rd out of 62 brokers, while FXGT.com scores 3 stars and ranks 59th, highlighting a significant gap in educational support between the two brokers.
| Feature |
FP Markets
|
FXGT.com
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| 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 FP Markets is better than FXGT.com. FP Markets finished with an overall rank of #19, while FXGT.com finished with an overall rank of #58.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
|
FXGT.com
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 69 |
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Both FP Markets and FXGT.com provide the option to trade cryptocurrency derivatives but neither offers the opportunity to purchase actual (delivered) cryptocurrencies.
FP Markets offers PayPal, Skrill, Visa, Mastercard, and bank wires but lacks ACH or SEPA transfer options, while FXGT.com provides ACH and SEPA transfers alongside Visa, Mastercard, and bank wires, yet does not support PayPal or Skrill.
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 | FP Markets | FXGT.com | |
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| Trust Score | 89 | 69 | |
| Winner | check_circle | ||
| Review | FP Markets Review |
| Broker Screenshots | FP Markets | FXGT.com | |
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| Regulation | FP Markets | FXGT.com | |
|---|---|---|---|
| Trust Score | 89 | 69 | |
| Year Founded | 2005 | 2019 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | FXGT.com | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | 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) | No | 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) | FP Markets | FXGT.com | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | 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 | FP Markets | FXGT.com | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 117 | |
| Forex Pairs (Total) | 71 | 53 | |
| 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 | FP Markets | FXGT.com | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | FXGT.com | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $5 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | FP Markets | FXGT.com | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | FXGT.com | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 5 | |
| Charting - Indicators / Studies (Total) | 30 | 37 | |
| Charting - Drawing Tools (Total) | 17 | 23 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | FXGT.com | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 | |
| 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 | FP Markets | FXGT.com | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | FXGT.com | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FP Markets | FXGT.com | |
|---|---|---|---|
| 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 | FP Markets Review |
| Overall | FP Markets | FXGT.com | |
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| Trust Score | 89 | 69 | |
| Winner | check_circle | ||
| Review | FP Markets Review |
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