FP Markets mobile app brings a smooth experience for mobile traders. It comes with many benefits including demo trading and ultra-competitive spreads.
Every time a question about brokers pops up during a regular conversation, most likely, you will hear FP Markets a lot. FP Markets is one of the most used trading platforms globally. This platform is well known for its versatility and affordability. But can this platform answer the traders' needs?
Most of the time, a broker uses desktop-based trading platforms. But nowadays, brokers must have simple-to-use apps that can provide the same services as desktop platforms as more traders and investors utilize their smartphones for trading. In January 2021, FP Markets announced a new mobile app, available for both iOS and Android. It is a well-designed, easy-to-use application available to anyone with MetaTrader login credentials.
Why does this trading application, which impressively gained 4.8 stars on Google Play Store and received more than three hundred reviews, becomes an easy "go-to app" for traders? Is the application really good? What features distinguish this application from its competitors? Let us take a little tour!
Device Compatibility
Can everyone use this application? Yes! This trading application is available for both Android and Apple users. You just need to download it via Google Play Store for Android phones and Apple Store for iOS. Please be informed that for Android users, your phone must run on Android 6.0 and up, and make sure you have enough space on your phone since it requires at least 28 MB. For iPhone users, this application requires iOS 11.0 or higher with the application sized 110.2 MB. Moreover, this application is supported with an advanced client portal to track your trading in real-time
To start downloading the app, you can refer to one of these links:
User Interface
This part could be a deal breaker for a mobile application. Fortunately, FP Markets offers a super user-friendly interface. With just a swipe away, you will find all the features offered. The interesting part is also found in layout adjustments. This mobile version offers a more convenient way to do on-the-go trading with only one hand. A fully packed feature from the desktop version is now in the pocket and more appealingly, building your own favorites menu to quickly switch between instruments is now possible.
Platform Features
What's on the plate? Well, this application is quite bulky. Featuring 60+ currency pairs including all the major currencies (EUR, GBP, USD, AUD, CHF, JPY, NZD, CAD), users can easily find the best suit. This trading application also provides CFD trading across shares, indices, and commodities. In addition, those who are into cryptocurrency are able to trade using this application. Real-time pricing for liquidity is also available in this FP Markets mobile app.
Login and Demo Trading
For first-time users, live and demo log-ins are available via the mobile app. The interesting point is, you can start demo trading for FREE for 30 days. This demo account is highly beneficial for first-time users to take a dip into the trading world. Not many applications have this kind of feature on the mobile version so take it as a sweet treat for beginners.
Spreads and Funding Methods
At least for its commission-based ECN account offering, FP Markets is one of the most cost-competitive brokers available to traders worldwide. With an average spreads of 0.1 pips per October 2021, FP Markets' Raw ECN account offers low spreads. Even for the Standard account, the spread is relatively low around 1.2 pips. For funding methods, a wide variety of options is available including credit cards, debit cards, wire transfers, PayPal, BPAY, Neteller, Skrill, and more.
Language and Security
There are many language options for users. At least 23 languages are available to choose from in order to make your trading activities run smoothly, including English (US, UK, Canada), Italian, Arabian, Danish, Thai, Vietnamese, Chinese, and Greek. A big applause for this bold move.
Unfortunately, there is only one-step authentication available when you log in to the application. This application also lacks other security methods such as Face Recognition or Fingerprint login.
Charting and Trading Tools
Simple charting is available on FP Markets. There are no drawing tools but do not worry too much as the outstanding charting capabilities from the MetaTrader services are also available in FP Markets.
With this feature, you can set stop-loss and take-profit limits. MAM/PAMM, VPS, Toolbox, Forex Calculator, and Autochartist are also available on your palm with customizable trading conditions.
Search Function
FP Markets mobile app's search capabilities are effective. You can conduct a search by entering the product name in the search box or by browsing the category folders. The experience has been great since this search function is one of the key features of the application that will be used frequently.
Customer Support
A 24-hour multilingual support is available to help you throughout your journey. You can reach out to FP Markets' award-winning Customer Support via phone, email, or Live Chat. A set of FAQs is also available to assist you with common inquiries. This could be a strong aspect to create a super friendly and helpful way to ensure the smoothness of using the application.
Market Research
The majority of FP Markets' analysis may be found on its website in the Traders Hub, where it is divided into technical and fundamental analysis. FP Markets still has space for improvement when compared to the finest brokers for research. It may improve its research offering by expanding it to include a greater variety of daily material.
On its official YouTube channel, FP Markets regularly posts written pieces and videos. Top-tier news suppliers including Citibank, Rabobank, Commerzbank, Reuters, and other forex news providers continuously stream headlines into the FP Markets MetaTrader platforms.
Education
This is the major part when choosing a trading platform. Thank God, FP Markets has it covered. Various video training on how to trade, operate the trading platform and use sophisticated trading techniques are available to watch. If you prefer to read, e-books can be the best choice to upgrade your knowledge.
Closure
So, should you choose this mobile application? The answer is simply yes. Firstly, the mobile adaptation is well executed. The desktop features are perfectly bridged to the mobile interface. For both new users and regular desktop users, this could be a crucial aspect of everyday use. The competitive spreads are also the strong point here. For beginners, this is a deal that cannot be missed. And do not forget the demo mode, which is quite rare on mobile applications.
Unfortunately, the security can be better. Some flaws are also visible in other aspects such as the lack of authentication methods and limited charting.
Nevertheless, this application is still worth a shot. Imagine bringing a desktop experience in your pocket; trading activities would be more efficient, smooth, and lucrative.
FP Markets is a trusted global broker offering more than 10,000 CFD products across forex, shares, indices, commodities, and cryptocurrencies. This broker supports low commissions and tight raw spreads from 0.0 pips that are made possible by their partnership with leading banking and non-banking financial institutions. Start open your FP Markets account here.
14 Comments
Jan 8 2023
Very cool app trading platform from FP Market! I would like to inquire about the trading conditions on FP Market, I also need information about the required deposits in FP Market and the account types I can choose from these brokers. And one last thing that is very important, is it regulated or not. And is it available and accepted by clients from the US? Thanks! Very curious about FP Market!
Jan 8 2023
Shannon: About the trading condition in FP Market is based on which accounts that you want to trade. There are 8 live accounts that you can choose and of course you can also doing trading demo with demo account in there. these 8 accounts includes :
FP Market is regulated by CySEC from Cyprus, ASIC from Australia, and, BVI from British Virgin Islands. The minimum deposit acquired at FP Market starts from $100. Is it available at US? Sadly no, because it is not regulated by US Financial regulators
Jan 8 2023
William: Dude, what are IRESS account and MAM account? Because for the first time, I heard about this type of account. And what makes these two accounts different from others like Pro Account, Standard Account, and RAW Account?
Jan 8 2023
If I'm not mistaken, IRESS is an advanced trading platform used by professional traders. Unlike other trading platforms, such as MetaTrader, IRESS is very advanced and since the functionality is so complex you have to pay for the service monthly. If you compare it with Metatrader, IRESS has a simpler interface and more market-sensitive functionality. Meanwhile, the MAM account is designed for corporate traders.
Jan 29 2023
Johan: A trading platform for IRESS accounts that access direct market access (DMA) to trade stocks and futures, as well as other commodities such as indices, commodities and foreign exchange.
The question is, what is DMA? Direct Market Access (DMA) refers to access to the electronic equipment and order books of financial market exchanges that facilitate day-to-day securities trading. Direct market access requires a sophisticated technological infrastructure, often owned by sell-side firms. Instead of relying on market-making firms or broker-dealers to execute trades, some buy-side firms trade themselves using direct market access. in the meantime,
A MAM or Managed Account Manager is basically a trading account that allows a trader to hire an experienced trader or robot as a money manager to execute trades on behalf of the account holder. The account holder will still be able to manage the trading account, but the money manager will have access to trade the account holder's investment funds. So basically, you are using someone else to trade your account.
Jan 29 2023
Basically, the FP Markets mobile app seems very advanced and I find it very helpful to be able to simplify trading with a single trading app that can also be used to trade and manage my account. There are also trading tools, but no drawing tools are available. The chart is powered by Metatrader. It means metatrader user will not feel strange when see the graphic chart in FP Market app.
But without drawing tools, it means that the trading tools in this trading app are limited. Believe it or not, drawing tools are very important for technical traders. In my opinion, FP Markets is not a good choice for those who need more trading tools to analyze their charts, but it's also not a bad choice if you can't trade via MetaTrader. It has a simple user interface and is easy to use for beginners, but not very suitable for MetaTrader users.
Jan 29 2023
Abdul: I agree with some of your arguments. Yes, if you are a MetaTrader user, you will not feel too familiar and limited as the FP mobile app has no drawing tools and limited trading tools. The interface is also simple, but not for Metatrader users.
But I disagree when you say that users using this mobile app should trade on the app, or that beginners should use this app and not trade on Metatrader. In other words, you are under no obligation to use only Metatrader or the FP mobile app. What I mean is that you can trade on both, but I think Metatrader will be the first trading platform. If you don't have access to Metatrader, you can trade using the FP Mobile app.
As mentioned in the article, it is worth using the FP trading app. But in my eyes, as a secondary trading platform. (read this article to know the pros and cons of mobile trading : Pros and Cons of Mobile Trading)
Jan 29 2023
Dude, FP Market can be a good broker for options trading. But I don't know if it is available for US traders or not. Because, as you know, USA is very strict about trading conditions because they offer very low leverage and most of them have to deposit huge amount. And because of that, many of the trading conditions of US brokers are unattractive. Meanwhile, foreign brokers offer many good trading conditions that work for me, but unfortunately most of them do not accept US traders.
Jan 29 2023
Allen: Don't dissapointed, Allen, as FP Markets does not accept clients who are US traders. But I think you can try to register if you insist because as far as I know there is no US law prohibiting US residents from trading outside of US.
The general advantage of using a stockbroker or offshore forex broker (in other words, trading forex) is that the operations are both legal and less expensive. But due to the regulation in the US, the broker cannot be regulated in the US because it cannot meet some defined conditions.
But before trying to sign up offshore broker, you can read the pros and cons of using an offshore broker. I think this article is very suitable for your condition : Trading in an offshore brokers : Pro and Cons
Mar 4 2023
Joe B: Hey, so it looks like not just FP Market, but a bunch of other brokers don't accept clients from the US. I don't really get why US regulations are so strict on this stuff. It's not just the brokers either - even US traders aren't allowed to trade with brokers that aren't regulated in the US. So, they're stuck with only the regulated brokers there, and can't access any others. It seems like the rules are pretty tight and the terms for trading are pretty strict too.
Mar 4 2023
Nabil: The reason and problem why some brokers may not accept clients from USA is because of FATCA (Foreign Account Tax Compliance Act). This law requires foreign financial institutions, including brokers, to report information about U.S. account holders to the Internal Revenue Service (IRS).
Meanwhile, under US regulation, this requirement can be very complicated and expensive for brokers, which can make it harder or more expensive for them to operate in the US. As a result, some brokers may decide to avoid US clients altogether to avoid facing FATCA requirements and costs.
It is important to note that not all brokers are affected by FATCA in the same way and some may choose to comply with reporting requirements in order to continue operating in the United States. But for some brokers, FATCA can be a major factor in their decision to avoid US clients.
Mar 4 2023
So, let's talk about FP Market's mobile trading platform. Apparently, it's pretty sweet - they guarantee technical analysis and provide some user-friendly charting tools and trading features that are similar to what you get with MetaTrader. And the best part? You can manage your account and do your trading all in one place, which makes life a lot easier.
Speaking of MetaTrader, I wonder if FP Markets also has the mobile version available. If they do, it would be interesting to compare the two and see which one's the best for trading.
Mar 4 2023
Jason: FP Markets does offer the mobile version of MetaTrader 4, which you can download from your iOS or Android app store.
When it comes to choosing between FP Markets' mobile trading platform and MetaTrader 4, it really depends on your personal preferences and trading style. FP Markets' mobile trading platform is great for traders who are always on-the-go and prefer to trade from their mobile devices. It's easy to use and has a variety of features that allow you to perform market analysis and execute trades from your mobile device.
On the other hand, MetaTrader 4 is a more comprehensive trading platform that's great for traders who prefer to use technical analysis in their trading strategies. It has a user-friendly interface and a wide range of tools and features, including the ability to use Expert Advisors (EAs) for automated trading.
So, the choice is ultimately up to you! It's best to try out both platforms and see which one works best for your individual needs and trading style
Mar 4 2023
Hey, I just wanted to send a quick message to say thank you for the great article on FP Market's mobile trading platform! I'm looking for a reliable mobile app to do my transactions on the go and this seems like a great choice.
The article was very helpful in explaining all the technical analysis tools and charting features provided by FP Market, which seemed very helpful to me. And the fact that I can manage my account and trade in one app is a game changer.
Honestly, I am quite new to the world of trading so reading this article was a very valuable learning experience for me. I feel a lot more confident now because I know what to expect and am excited to start using the FP Market mobile app for my trades. So yeah, I just wanted to thank you again for putting together such a great piece of work! Please continue to uphold.