FXCM vs FP Markets Comparison
Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare FXCM vs FP Markets.
Can I trust FXCM?
FXCM has a trust score of 96, giving it a "Highly Trusted" trust label. Here's what each trust score label means:
- "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
- "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
- "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
- "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
- "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.
Can I trust FP Markets?
FP Markets has a trust score of 86, giving it a "Trusted" trust label.
Is FXCM a good broker?
FXCM, a Jefferies Group company, is a long-standing brand that caters to global forex and CFD traders. It offers multiple trading platforms for alogrithmic trading and social copy-trading alongside it's flagship platform suite. The range of markets available at FXCM has increased following the addition of its share trading feature, and its known for providing robust market research – though pricing at FXM is just average.
Is FP Markets a good broker?
FP Markets features excellent pricing, thanks to its highly competitive spreads for forex and CFD trading on MT4. That being said, FP Markets' pricing is not as low on its IRESS platform, which is optimized for share dealing. FP Markets fares well across most key categories, though its research and education have room to improve.
What tier-1 jurisdictions is each broker regulated in?
Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. FXCM is ASIC Authorised (Australia), IIROC Authorised (Canada) and FCA Authorised (U.K.), while FP Markets is ASIC Authorised (Australia)., neither have SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland) and CFTC Registered (USA)
What tier-2 jurisdictions is each broker regulated in? What about tier-3?
Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, FXCM is CySEC Authorised (Cyprus), ISA Authorised (Israel) and FSCA Authorised (South Africa), while FP Markets is CySEC Authorised (Cyprus) and FSCA Authorised (South Africa)., neither have CBRC Authorised (China), SEBI Authorised (India), CBR Authorised (Russia), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses unfortunately, neither FXCM nor FP Markets are SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu)., neither have VFSC Authorised (Vanuatu).
Which broker offers more trading platforms?
For trading platforms FXCM supports a Proprietary Platform, Desktop Platform (Windows) and ZuluTrade, whereas FP Markets supports a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader and DupliTrade
Does FXCM offer MetaTrader? Does FP Markets offer MetaTrader?
For MetaTrader FXCM provides MetaTrader 4 (MT4), while FP Markets provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.
How do FXCM and FP Markets differ in terms of minimum deposit? What about average spreads and funding options?
FXCM requires a minimum deposit of Starts from $50, while FP Markets requires a minimum deposit of $100 AUD. From our testing we found FXCM offers spreads of 1.38 (Q2 2022), while FP Markets offers spreads of 1.2 (August 2022). FXCM supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for popular funding options, where FP Markets supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).
Which brokers offers more tradeable asset classes, FXCM or FP Markets?
FXCM offers a more diverse selection of investment options than FP Markets allowing you to trade Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies and U.S. Stocks (CFD)., neither have ETF Looking at total tradeable symbols, FXCM has 441, compared to 10000 from FP Markets.
Can I trade cryptocurrency with FXCM or FP Markets?
Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither FXCM nor FP Markets allow you to trade physical cryptocurrencies.
Who offers more research tools, FXCM or FP Markets?
In terms of research and research tools FXCM gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison FP Markets has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading.