Europe’s shared currency eked out a marginal gain of +0.1% versus its US counterpart last week, marking a fourth straight week in positive territory for the major currency pair. This will be a watched market ahead of Wednesday’s US CPI print, with technicals suggesting a move higher in EUR/USD from short-term support. Sterling ended the week a touch lower versus the US dollar, down -0.2% and snapping a two-week bullish phase. As we enter the second full week of May, the GBP/USD currency pair will be monitored closely ahead of Tuesday’s employment and wage data out of the UK, with technical studies indicating a bearish move could be on the table. Control changed hands in the gold space (XAU/USD) last week; buyers strengthened their grip, adding +2.5% and snapping a two-week losing streak a whisker off all-time highs of $2,431. Technicals Favouring Buyers Last week’s move was (technically) aided by support on the daily timeframe coming in from $2,280, a level which the Research Team were watching…

Is Forex Trading Difficult?

It's worth noting that FP Markets’ share CFD offering on Iress provides Direct Market Access (DMA) in terms of its pricing and execution process, including full depth of book available within the platform. That said, the broker's Iress ViewPoint account option is less affordable, and is geared towards active traders with high-balance accounts. has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Our mission is to provide traders with accurate and up-to-date information about brokers.

Forex Risk Disclaimer

Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. We have chosen eToro as the best Forex broker due to its unique social trading features, wide range of assets, and user-friendly platform.

Is Forex Good for Beginning Investors?

I will give 5 star + To great customer service and the important thing is the spreads are tight, my previous broker made my too many losses by their wide spreads and technical issues, I highly recommend FP Markets . This policy ensures that traders can manage their funds efficiently without worrying about additional costs. For international deposits, FP Markets goes a step further by offering to cover internal bank fees. If a client submits a receipt showing an original deposit fee of no more than 50 USD, FP Markets will reimburse the international bank fees charged by the client’s bank for deposits over 10,000 USD. FP Markets offers its clients the advantage of no deposit or withdrawal fees, coupled with a broad selection of payment methods including credit cards, debit cards, bank transfers, and e-wallets.

Trade what you want

Outside of Australia and Europe, the online broker is regulated offshore in South Africa (FSCA), Seychelles (FSA), and Mauritius (FSC). FP Markets also offers an Islamic account, which doesn’t involve any swaps or interest on overnight positions to stay in line with Islamic principles. Rather, you’ll be charged a fee on positions, which is deducted from your account balance. While Eightcap offers a slightly lower spread for EUR/USD at 0.06 pips, FP Markets offers a spread of 0.10 pips, on par with leading competitors like Pepperstone and Admiral Markets. This approach allows us to provide a transparent comparison of FP Markets against its peers, highlighting its strong position in the forex industry, especially for the EUR/USD pair.

To achieve this, we’ve developed a comprehensive rating system that quantifies each broker’s performance. Our ranking methodology is designed to offer traders valuable insights into broker features, strengths, and potential areas for improvement. We aim to equip traders with the knowledge they need to make informed decisions on their trading journey.

One of the standout features of Plus500 is its proprietary trading platform, which is intuitive and suitable for traders of all levels. This platform provides access to a wide range of currency pairs, allowing traders to capitalize on various market opportunities. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. EToro stands out for its innovative approach to trading, offering a social trading platform that allows traders to follow and copy the trades of successful investors. This makes it an excellent choice for both beginners looking to learn from experienced traders and seasoned traders seeking to diversify their strategies.

FP Markets offers highly competitive pricing through its MetaTrader and cTrader offering, making it one of the most cost-competitive brokers available to traders globally – at least for its commission-based ECN account offering. Beginning investors should avail themselves of the wealth of research and educational resources available through trading platforms and sites like Investopedia. It's important to use caution when entering the forex market and make sure you have a solid understanding of the currencies, derivatives, commodities, cryptocurrencies, spreads, and other offerings in which you wish to trade.

FP Markets also offers solid customer service and multiple funding options, making it a reliable choice for traders looking for a straightforward trading experience. FP Markets offers the Iress platform suite for share trading, but MetaTrader is the primary platform option for forex and CFD trading. With support fp markets broker for Autochartist plugin integration as well as platform add-ons from FX Blue as part of its Trader Toolbox offering, FP Markets is a great choice for traders who wan to use MetaTrader. FP Markets’ excellent MetaTrader offering had it finishing Best in Class for MetaTrader in our 2024 Annual Awards.

  1. FP Markets offers diverse stock trading options, including outright stock trading via the IRESS platform and share CFDs on MetaTrader 4 (MT4)  or MetaTrader 5 (MT5).
  2. This platform provides access to a wide range of currency pairs, allowing traders to capitalize on various market opportunities.
  3. With these positive attributes along with its apparent focus on functional simplicity, LCG is well-suited to beginning traders.
  4. Traders engaging in Contract for Difference (CFD) trading will find FP Markets’ fees reasonable and competitive.

FP Markets earns a top-notch rating in trust and safety due to its extensive regulation, comprehensive fraud prevention measures, and stringent client fund security protocols. Traders can have confidence in the broker’s commitment to maintaining a secure and trustworthy trading environment. FP markets has been a great start for me into the world of trading, customer service has been excellent in helping me and any doubts I have. Steve Tee has been only a text away through any questions I have needed answering. I had a challenge login in to my MT5 account on both my mobile and desktop, Andreas came to the recue within less than 3 min I was back on my trading platform.

While there’s no account inactivity fee, it’s essential to note that other fees might apply. We use dedicated people and clever technology to safeguard our platform. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. Speedy live support & friendly, I am very pleased with the assistance & service. Hi Clement, If you have an account with FP Markets Australia then I would expect you should be able to use the IRESS account.

Forex broker that has successfully adapted to the ever-changing online brokerage landscape. The company is listed on the London Stock Exchange (LSE) under the ticker symbol CMCX. The forex broker should have its regulation listed at the bottom of its website. If it is not located at the bottom, it might be located in one of the company information hyperlinks. Reading reviews of forex brokers can also help you determine whether a company is regulated if you are unable to find the information yourself.

FxPro stands out as the best Forex broker for several compelling reasons, making it a top choice for traders seeking a professional and versatile trading experience. We have selected FP Markets as the best Forex broker due to its competitive pricing, diverse range of tradable instruments, and commitment to providing an optimal trading experience. Overall, FP Markets is a strong choice for traders of varying levels of experience. However, as with any financial decision, it’s essential to conduct thorough research and consider personal trading needs before opening an account with any broker. These unique features collectively empower traders to navigate the complexities of the financial markets with precision and confidence. In summary, FP Markets demonstrates its commitment to providing traders with the tools and insights they need for successful trading endeavors.

Overall, forex brokers facilitate trading, provide tools and support, execute orders, and ensure adherence to regulations. The forex broker that offers the most currency pairs can vary, as brokers constantly update and expand their offerings. However, some well-known brokers with a wide range of currency pairs include XM Group, FXPro, and IC Markets. These brokers typically provide access to a substantial number of major, minor, and exotic currency pairs, allowing traders to engage in diverse forex trading strategies and take advantage of various market opportunities. Keep in mind that the number of currency pairs offered by a broker is just one factor to consider when choosing a forex broker. Other crucial aspects include regulatory compliance, trading platform quality, fees, customer support, and overall trading conditions.

This web platform offers flexibility and accessibility, making it a convenient choice for traders who prefer to trade from various devices and locations. It provides essential trading features and tools, ensuring a smooth trading experience. FP Markets caters to the modern trader’s need for mobility and flexibility by offering mobile trading options across its platform range. You can manage their accounts, monitor markets, and execute trades from anywhere, at any time. These apps are designed to provide a seamless trading experience on the go, featuring intuitive interfaces, full trading functionality, and access to real-time market data and analysis tools.