FP Markets offers a Raw account with tight spreads and a Standard account suitable for beginners. Which account type is better for you?

When it comes to trading, one of the most important decisions a trader must make is choosing the right account type. Different account types offer different features and benefits, so it is crucial to pick the one that best suits your trading style and goals.

One of the best forex brokers for retail traders at the moment is FP Markets. FP Markets is a reputable and trustworthy forex broker based in Australia which offers two types of accounts for different needs, the Standard and Raw accounts.

Standard accounts are the most basic type of trading account and are suitable for beginner traders or those new to the markets. Raw accounts, on the other hand, are designed for more experienced traders who are looking for transparent pricing and tighter spreads.

So, which one is the best for you?

Without further ado, we will delve deeper into the details to help you decide which account is the best fit for your needs.

FP Markets Account

 

FP Markets Background Info

FP Markets is a reputable and experienced broker that has been in operation since 2005. The company is based in Australia and is regulated by ASIC (Australian Securities and Investments Commission) and CySEC (Cyprus Securities and Exchange Commission) which ensures that they adhere to strict regulations and standards. Their ASIC registration number is 286354 while their CySEC license number is 371/18.

FP Markets Specifications

🌐 Website
www.fpmarkets.com
Leverage
1:500
💼 Regulation
💲 Min Deposit
$100
Year Established
2005

Bonus offers
Free education
Personal manager
Trading by telephone
PAMM accounts
MAM accounts
Segregated accounts
Affiliate program
Islamic accounts available
FasaPay
Neteller
Skrill
Wire transfer

They offer access to over 10,000 CFD products and tight spreads starting at 0.0 pips. The broker utilizes raw pricing which is streamed directly from top-tier liquidity providers, allowing clients to benefit from a large pool of regulated financial institutions.

FP Markets provides advanced trading platforms such as MetaTrader 4 and 5, IRESS (with three account options), WebTrader, as well as mobile apps for Android and iPhone users. In addition, they provide VPS solutions for auto-traders, EAs, and scalpers, and have minimal restrictions for a wide range of trading strategies.

 

FP Markets Account Types Overview

Conditions

Standard Account

Raw Account

💰Min. Deposit

AUD 100 or equivalent

AUD 100 or equivalent

🔢Spreads

From 1.0 pips

From 0.0 pips

 Instruments

60+ FX pairs, metals, indices, commodities

60+ FX pairs, metals, indices, commodities

⚖Max. Leverage

500:1

500:1

⚡Execution

ECN-Pricing

ECN-Pricing

💸Commission per Lot

$3 per side

📈Minimum Trade Size

0.01 Lot

0.01 Lot

🤖EA

✔️✔️

📱Mobile App

✔️✔️

📡VPS

✔️✔️

🕌Islamic Account

✔️✔️

💻Algorithmic Trading

✔️✔️

 Copy Trading

✔️✔️

🌐API Trading

 

Differences Between Standard and Raw Accounts

The main difference between FP Markets' Standard and Raw Accounts is the way they handle spreads and commissions.

A Standard Account typically has wider spreads starting from 1.0 pips, which are the difference between the buy and sell prices of a currency pair or other financial instrument. These spreads can include markups, which are added by the broker to cover their own costs and make a profit.

On the other hand, a Raw Account has tighter spreads, which start as low as 0.0 pips on certain currency pairs. This account does not have any markups on the prices it receives from liquidity providers, which results in more transparent pricing for the trader. Furthermore, FP Markets' Raw account uses ECN/STP execution model which allows for faster execution and reduced slippage.

Another difference between the two accounts is the commission. Raw account has a commission of $3 per side and the standard account doesn't have a commission at all.

In summary, the Standard Account is more suitable for traders who are willing to pay a slightly higher spread for the convenience of a more user-friendly interface, while the Raw Account is better for traders who want the tightest possible spreads and transparent pricing.

 

Which One to Choose?

Choosing one account over the other depends on your trading style and your preference to have tighter spreads or no commissions. Short-term forex traders who use scalping and day trading as their main strategy typically prefer to have tighter spreads and will likely choose the Raw account. Traders that hold positions for longer periods or trade less frequently may choose the Standard account to have a more simple trading experience.

It is important to take time to research and compare different account types so you can choose one that offers the features and benefits that align with your needs and trading style.

 


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.