Written by ForexBrokers.com
In this head to head comparison of FP Markets vs Xtrade, 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 and Xtrade are both online brokers offering various trading services, but they differ significantly in regulatory trustworthiness. Founded in 2005, FP Markets holds 2 Tier-1 licenses and 1 Tier-2 license, giving it a Trust Score of 89 out of 99, which indicates a high level of trust according to ForexBrokers.com. Although FP Markets is not publicly traded and isn't a bank, its licensing credentials contribute to its strong reputation among traders.
In contrast, Xtrade, founded in 2003, possesses 1 Tier-1 license and 1 Tier-2 license, resulting in a Trust Score of 74. This score signifies an average risk level, per ForexBrokers.com's rating system. Like FP Markets, Xtrade is neither publicly traded nor a bank. While Xtrade provides a reliable service, its lower Trust Score and fewer top-tier licenses make FP Markets a more trusted choice for those prioritizing regulatory oversight.
| Feature |
FP Markets
|
Xtrade
|
|---|---|---|
| Year Founded | 2005 | 2003 |
| 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 | 1 |
When comparing the commissions and fees of online brokers FP Markets and Xtrade, FP Markets stands out as a more cost-effective option, especially for its commission-based ECN account. Known for its competitive pricing on MetaTrader and cTrader platforms, FP Markets earned the Best in Class award for Commissions and Fees in the 2024 Annual Awards. The Raw ECN account at FP Markets features notably competitive spreads, averaging 0.1 pips (or 0.8 pips including commission), whereas the Standard account averages a higher spread of 1.1 pips for EUR/USD. For those using the cTrader platform, the Raw account option offers a flat $6 commission per round-turn standard lot for forex trading.
FP Markets also offers the Iress ViewPoint account with Direct Market Access (DMA) for traders willing to maintain high balances. This option provides full depth of book but comes at a higher cost, with monthly fees waivable only for Premier accounts or for those spending at least AUD 150 in commissions. Meanwhile, the Iress Investor account represents a more budget-friendly choice, although it lacks certain features like streaming data and advanced charting found in the ViewPoint platform.
On the other hand, Xtrade does not provide average spread data, which makes it challenging to evaluate its cost-effectiveness. Moreover, in terms of commissions and fees, Xtrade receives a lower rating of 2.5 stars compared to FP Markets' 5-star rating. Additionally, FP Markets is ranked as the 6th best broker out of 62 for commissions and fees by ForexBrokers.com, whereas Xtrade finds itself at the bottom of the list, ranked 62nd. This comparison underscores FP Markets as a preferable choice for traders looking for competitive fees and commissions.
| Feature |
FP Markets
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $100 AUD | $250 |
| 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 | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| 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 the investment options between FP Markets and Xtrade, the difference in offerings is significant. FP Markets stands out with an impressive range of 10,000 tradeable symbols, including 71 forex pairs. This is substantially more than Xtrade, which provides 482 tradeable symbols and 56 forex pairs. Both platforms offer forex trading as Contracts for Difference (CFDs) or spot contracts, but neither provides access to buying actual exchange-traded securities on U.S. or international exchanges, nor the option to buy real cryptocurrencies.
FP Markets holds an advantage in copy trading features, a service Xtrade does not provide. Additionally, both brokers allow trading in cryptocurrency derivatives rather than owning the actual digital asset. The expertise of FP Markets in diversifying investment options is reflected in its 4.5-star rating and ranking as #18 out of 62 brokers for the Range of Investments by ForexBrokers.com. Conversely, Xtrade is rated at 3.5 stars and ranks #49 in the same category, which may affect investors seeking a broader array of investment opportunities.
| Feature |
FP Markets
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 482 |
| Forex Pairs (Total) | 71 | 56 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| 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.
When comparing FP Markets and Xtrade, both brokers provide valuable trading platforms and tools, but they cater to different types of traders. FP Markets stands out by offering both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), popular platforms among seasoned traders for their advanced features. Additionally, FP Markets supports a Windows-based desktop trading platform and offers copy trading, which allows users to follow and replicate the trades of experienced investors. FP Markets users also benefit from a free demo account for simulated trading, a proprietary platform, and the ability to trade directly from stock charts. Although FP Markets provides fewer drawing tools compared to Xtrade, it has a solid range of seven columns for watchlists, making it user-friendly for traders who value organization and detailed market analysis.
Xtrade, on the other hand, offers a proprietary web-based platform and a free virtual demo account for practice trading. Even though it lacks desktop trading capabilities and MetaTrader options, Xtrade compensates with a comprehensive selection of one hundred drawing tools for charting, encouraging detailed technical analysis. While copy trading is not available on their platform, Xtrade provides nine columns for watchlists, offering a slightly broader field of information at a glance. Overall, FP Markets is rated slightly higher, with a 4-star rating compared to Xtrade's 3.5-star rating in the Trading Platforms and Tools category by ForexBrokers.com. Ranked #23 out of 62 brokers, FP Markets appeals to those seeking advanced trading tools, whereas Xtrade, ranked #58, suits users who prefer graphical analysis tools within a web-based environment.
| Feature |
FP Markets
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | N/A |
| Charting - Drawing Tools (Total) | 17 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing FP Markets and Xtrade's mobile trading apps, both offer accessibility for iPhone and Android users. However, FP Markets stands out by providing stock and forex price alerts, a feature Xtrade lacks. FP Markets' app allows users to draw trendlines and view multiple time frames on charts, with the added convenience of auto-saving these drawings. It also supports creating watchlists with real-time quotes, enhancing the trading experience for active investors. In contrast, Xtrade's app does not offer these features, which may limit its appeal to traders who rely heavily on technical analysis and real-time data.
Despite receiving a similar average user rating of four stars for their mobile trading apps, FP Markets is ranked significantly higher at #18 compared to Xtrade's #53, according to ForexBrokers.com. This ranking reflects the more comprehensive tools and features available on FP Markets’ app, making it a preferable choice for those seeking a versatile and informative trading platform on their mobile device. While Xtrade could be suitable for basic trading needs, traders looking for advanced functionalities might find FP Markets more aligned with their requirements.
| Feature |
FP Markets
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
FP Markets and Xtrade both provide daily market commentary, complemented by forex news sourced from leading providers like Bloomberg and Reuters. However, FP Markets distinguishes itself by offering a suite of advanced research tools. Traders with FP Markets benefit from the inclusion of Autochartist and Trading Central’s analytics, along with a sentiment-based trading tool that provides valuable data on market positions. Xtrade, while offering essential news and commentary, does not provide these targeted analytical tools, potentially limiting the depth of market research available to its users.
Both brokers support their clients with economic calendars to keep track of significant global news events. Despite these similarities, FP Markets has achieved a higher research rating of 4 stars compared to Xtrade's 3.5 stars. This rating reflects its broader range of research tools and market insights. Consequently, FP Markets is ranked #25 by ForexBrokers.com for research, significantly higher than Xtrade’s position at #52, indicating a stronger reputation in the market research category.
| Feature |
FP Markets
|
Xtrade
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| 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 available to beginners between FP Markets and Xtrade, FP Markets offers a richer variety of materials. Both platforms provide a minimum of ten educational pieces focusing on forex or CFDs, which include articles, videos, and archived webinars. However, FP Markets enhances the learning experience with monthly live webinars and a comprehensive archive of past sessions for additional learning flexibility. In contrast, Xtrade does not offer live webinars or an archive of recorded sessions, limiting opportunities for real-time engagement and retrospective study.
FP Markets distinguishes itself further by providing at least ten educational videos tailored specifically for beginners, something Xtrade doesn't match. This offering helps newcomers understand trading concepts more easily. FP Markets also caters to advanced traders with a set of advanced educational videos, while Xtrade does not. Both brokers offer an investor dictionary with over 50 investing terms, aiding in understanding industry jargon. Overall, FP Markets earns a higher educational rating of 4 stars compared to Xtrade’s 3.5 stars, ranking 23rd among 62 brokers, whereas Xtrade is ranked 46th, showcasing FP Markets’ commitment to education.
| Feature |
FP Markets
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| 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 Xtrade. FP Markets finished with an overall rank of #19, while Xtrade finished with an overall rank of #59.
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
|
Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 74 |
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Both FP Markets and Xtrade do not provide the option to purchase actual delivered cryptocurrency but they do offer the ability to trade cryptocurrency derivatives.
FP Markets and Xtrade both lack ACH or SEPA transfer options for transactions, but FP Markets distinguishes itself by allowing PayPal deposits and withdrawals, unlike Xtrade, while both brokers support Skrill, Visa, Mastercard, and bank wire methods.
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 | Xtrade | |
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| Trust Score | 89 | 74 | |
| Winner | check_circle | ||
| Review | FP Markets Review | Xtrade Review |
| Broker Screenshots | FP Markets | Xtrade | |
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| Regulation | FP Markets | Xtrade | |
|---|---|---|---|
| Trust Score | 89 | 74 | |
| Year Founded | 2005 | 2003 | |
| 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 | 1 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 482 | |
| Forex Pairs (Total) | 71 | 56 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $250 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | FP Markets | Xtrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 30 | N/A | |
| Charting - Drawing Tools (Total) | 17 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | FP Markets | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | FP Markets | Xtrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| 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 | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | FP Markets | Xtrade | |
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| Trust Score | 89 | 74 | |
| Winner | check_circle | ||
| Review | FP Markets Review | Xtrade Review |
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