Top 8 Locally Based Brokers
FP Markets Review
Overall, FP Markets is a reliable multi-regulated online broker with no-commission trading and tight spreads. It has over 70 000 active Kenyan traders and has a verified trust score of 81% out of 100. FP Markets was founded in 2005 and is considered a trustworthy broker. FP Markets is currently not regulated by the CMA of Kenya
- Louis Schoeman
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.8/5
Total Pairs
63
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
FP Markets Review – 15 key points quick overview:
Regulation and Safety of Funds- Account Types and Features
- Account Registration
- FP Markets Vs AvaTrade Vs OANDA – Broker Comparison
- Trading Platforms
- Range of Markets
- Broker Comparison for Range of Markets
- Trading and Non-Trading Fees
- Deposits and Withdrawals
- FP Markets Education and Research
- FP Markets Affiliate Program
- Verdict on FP Markets
- FP Markets Pros and Cons
- Frequently Asked Questions
FP Markets Overview
👉 In terms of low-cost Forex and CFD trading, FP Markets excels as a MetaTrader platform-based broker. There are more than 8,000 products that are available for trading on the trading platform suite and with MetaTrader, FP Markets is one of the most cost-effective brokers accessible to traders throughout the world.
👉 FP Markets is not regulated by the Capital Markets Authority (CMA) in Kenya, but is well-regulated by the ASIC and CySEC, allowing the broker to provide cross-border services around the globe.
👉 Traders and investors are now able to trade the Mexican Peso (MXN), Brazilian Real (BRL) and South African Rand (ZAR) against the US Dollar through the MT4 & MT5 Trading Platforms. The additional offering increases the total number of currency pairs available to trade at FP Markets to more than 70 currency pairs.
👉 FP Markets (Pty) Ltd is a Financial Services Provider authorized and regulated by the Financial Sector Conduct Authority in South Africa (FSP Number 50926).
👉 This FP Markets review will provide traders with the details that they need to consider whether the broker is suited to their unique trading objectives and needs.
👉 FP Markets provides a variety of value-added services, including VPS hosting for automated trading solutions, copy trading through the MT4 Myfxbook service, and retail account management using the MT4 MAM/PAMM module.
👉 The most recent expansion of FP Markets’ in-house social trading service exposed it to the rise in demand for this sub-sector of trading from retail traders. Investing in social trading demonstrates astute management and demonstrates a broker that is always looking to provide the finest services to customers.
Distribution of Traders
👉 The distribution of traders for FP Markets is as follows:
➡️️ Italy – 12.2%
➡️️ Australia – 10.3%
➡️️ India – 7.7%
➡️️ Bahamas – 6.5%
➡️️ United Kingdom – 6.1%
Popularity among traders who choose FP Markets
🥇 While FP Markets does not dominate the Kenyan forex market, the broker still falls within the Top 20 brokers for Kenyan traders.
FP Markets At a Glance
| 🏛 Headquartered | Australia |
| 🏙 Kenyan Based Office | No |
| ✅ Accepts Kenyan Traders? | Yes |
| 🗓 Year Founded | 2005 |
| 📞 Kenyan Office Contact Number | None |
| 🤳 Social Media Platforms | • Facebook • YouTube • Telegram |
| ⚖️ Regulation | ASIC, CySEC, FSCA |
| 🪪 License Number | • Australia – ABN 16112600281 • Cyprus – 371/18 |
| ⚖️ CMA Regulation | None |
| 🚫 Regional Restrictions | United States, Japan, New Zealand |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 7 |
| 📊 PAMM Accounts | Yes |
| 🤝 Liquidity Providers | Barclays, BNP Paribas, Commerzbank, Credit Suisse, Goldman Sachs |
| 💸 Affiliate Program | Yes |
| 📲 Order Execution | Market |
| 📊 Average spread | 0.0 pips |
| 📞 Margin Call | 100% |
| 🛑 Stop-Out | 50% |
| ✅ Crypto trading offered? | Yes |
| 💰 Offers a Kenyan shilling Account? | No |
| 👨💻 Dedicated Kenyan Account Manager? | No |
| 📊 Maximum Leverage | 1:500 |
| 🚫 Leverage Restrictions for Kenya? | No |
| 💰 Minimum Deposit (KES) | 8,500 KES (equivalent to AU$100) |
| ✅ Kenyan shilling Deposits Allowed? | Yes |
| 📊 Active Kenyan Trader Stats | 70,000+ |
| 👥 Active Kenyan-based FP Markets customers | Unknown |
| 💳 Kenya Daily Forex Turnover | $100 million+ |
| 💵 Deposit and Withdrawal Options | SticPay, PerfectMoney, DragonPay, Rupee, Pagsmile, Rapyd, Rapid, XPay, Finrax, LetKnowPay, LuqaPay, PayRetailers, ApplePay, GooglePay, VirtualPay |
| 🏦 Segregated Accounts with Kenyan Banks? | No |
| 📊 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • WebTrader • Myfxbook AutoTrade • FP Markets App |
| ✔️ Tradable Assets | • Forex • Shares • Metals • Commodities • Indices • Cryptocurrencies • Bonds • ETFs |
| 💸 Offers USD/KES currency pair? | No |
| 📈 USD/KES Average Spread | N/A |
| 📉 Offers Kenyan Stocks and CFDs | None |
| 🗣 Languages supported on Website | English, Arabic, German, Portuguese, Vietnamese, Indonesian, French, Malay, Italian, Russian |
| 📞 Customer Support Languages | Multilingual |
| ⏰ Customer Service Hours | 24/7 |
| 👥 Kenyan-based customer support? | No |
| ✅ Bonuses and Promotions for Kenyans | None |
| 📚 Education for Kenyan beginners | Yes |
| 📱 Proprietary trading software | Yes |
| 💰 Most Successful Kenyan Trader | Patrick Mahinge (Net Worth – Private) |
| ✅ Is FP Markets a safe broker for Kenyans? | Yes |
| 📊 Rating for FP Markets Kenya | 9/10 |
| 🤝 Trust score for FP Markets Kenya | 81% |
| 👉 Open an account | 👉 Open Account |
Regulation and Safety of Funds
Since 2005, FP Markets has been a major CFD and FX broker on the global market. One of the two regulatory bodies in charge of broker operations in Australia is ASIC, whereas in Europe CySEC oversees broker activities in the European Union. Since our company is registered in St. Vincent & the Grenadines, we can say with certainty that we have a global reach.
For client service and execution technology, FP Markets has received more than 40 accolades. Since its inception, FP Markets has strived to be one of the best forex brokers in the world by offering traders an amazing trading environment.
FP Markets has a dedicated compliance and customer support team that conforms to ASIC regulations for the protection of investors. Segregated accounts at top-tier banks keep customer money distinct from broker operating cash, so it cannot be utilized for anything else. Unlike CySEC clients, ASIC and St. Vincent customers do not have negative balance protection.
Overall Rating
- 4.8/5
Min Deposit
USD 100 / 11560 KES
Regulators
ASIC, CySEC, FSCA
Trading Desk
MetaTrader 4, MetaTrader 5
Crypto
Yes
Total Pairs
63
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Account Types and Features
Four live trading accounts are available to Kenyan traders, each suited to the demands of various kinds of traders and degrees of expertise. The live accounts offered by FP Markets are:
➡️ MT4/5 Standard Account
➡️ MT4/5 Raw Account
➡️ MT4/5 Islamic Standard Account
➡️ MT4/5 Islamic Raw Account
Live Trading Accounts
MT4/5 Standard Account
👉 This account is recommended for Kenyan traders who want basic, competitive trading conditions.
| Account Feature | Value |
| 💰 Minimum Deposit | 8,500 KES (equivalent to AU$100) |
| 📊 Average Spreads | Variable, from 1 pip |
| ✔️ Instruments Available | 60+ Forex pairs, metals, indices, commodities |
| 📈 Maximum Leverage Ratio | 1:500 |
| 📱 Execution Type | ECN |
| 💵 Commissions | 0 KES |
| 👥 Expert Advisors Offered? | Yes |
| 📲 Mobile App Offered? | Yes |
| ✔️ VPS Available? | Yes |
MT4/5 Raw Account
👉 This account can be registered through MetaTrader 4 or 5, offering the lowest possible spreads and access to a wide range of markets and competitive commissions.
| Account Feature | Value |
| 💰 Minimum Deposit | 8,500 KES (equivalent to AU$100) |
| 📊 Average Spreads | Variable, from 0.0 pips |
| ✔️ Instruments Available | 60+ Forex pairs, metals, indices, commodities |
| 📈 Maximum Leverage Ratio | 1:500 |
| 📱 Execution Type | ECN |
| 💵 Commissions | US$3 per side |
| 👥 Expert Advisors Offered? | Yes |
| 📲 Mobile App Offered? | Yes |
| ✔️ VPS Available? | Yes |
MT4/5 Islamic Standard Account
👉 For Kenyan Muslim traders, this account offers competitive trading conditions and a wide range of trading instruments and methods.
| Account Feature | Value |
| 💰 Minimum Deposit | 8,500 KES (equivalent to AU$100) |
| 📊 Average Spreads | Variable, from 1 pip |
| ✔️ Instruments Available | 60+ Forex pairs, metals, indices, commodities |
| 📈 Maximum Leverage Ratio | 1:500 |
| 📱 Execution Type | ECN |
| 💵 Commissions | 0 KES |
| 👥 Expert Advisors Offered? | Yes |
| 📲 Mobile App Offered? | Yes |
| ✔️ VPS Available? | Yes |
MT4/5 Islamic Raw Account
👉 This account is ideal for high-frequency traders, day traders, algorithmic traders, and other professional traders who wish to avoid overnight costs.
| Account Feature | Value |
| 💰 Minimum Deposit | 8,500 KES (equivalent to AU$100) |
| 📊 Average Spreads | Variable, from 0.0 pips |
| ✔️ Instruments Available | 60+ Forex pairs, metals, indices, commodities |
| 📈 Maximum Leverage Ratio | 1:500 |
| 📱 Execution Type | ECN |
| 💵 Commissions | US$3 per side |
| 👥 Expert Advisors Offered? | Yes |
| 📲 Mobile App Offered? | Yes |
| ✔️ VPS Available? | Yes |
Demo Account
A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital.
There is a certain degree of risk involved when trading financial markets and FP Markets offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.
Islamic Account
Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.
This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.
Standard and Raw accounts are both available to Muslim Kenyan traders as an Islamic Account option. Traders of the Muslim faith may benefit from these accounts’ competitive trading conditions and perks.
However, traders should be aware that administrative costs are levied in USD per lot, every night, for those who select this option. The following fees apply:
| Instrument | Admin Fee Charged |
| AUS200, CHINA50, FRA40, GER30, HK50, JP225, US100, EURO50, UK100 | $1 |
| AUD/USD, EUR/USD, GBP/USD, USD/CAD, USD/CHF, USD/JPY, NZD/USD, XAG/USD, XAU/USD | $5 |
| AUD/NZD, US500, LTC/USD, XRP/USD | $2 |
| US30, EUR/SEK, USD/SGD | $3 |
| AUD/SGD, CAD/JPY, EUR/CHF, EUR/JPY, GBP/CAD, NZD/SGD | $4 |
| AUD/CAD, CAD/CHF, CHF/JPY, EUR/DKK, EUR/GBP, NZD/CAD, USD/THB, XAG/AUD, USD/CZK | $5 |
| BTC/USD, GBP/JPY, GBP/SEK, XAU/AUD, XPT/USD | $6 |
| AUD/JPY, EUR/CAD, GBP/CHF, NZD/JPY | $7 |
| AUD/CHF, EUR/SGD, GBP/AUD, GBP/PLN, NZD/CHF, USD/CNH, USD/PLN, USD/SEK | $8 |
| CHF/SGD, EUR/AUD, EUR/NOK, EUR/NZD, EUR/PLN, GBP/DKK, GBP/SGD, GBP/NZD, USD/DKK, USD/NOK, XTI/USD, EUR/HUF, USD/HUF, EUR/CZK | $10 |
| EUR/ZAR, USD/MXN, USD/ZAR, XBR/USD, XTI/USD, XPD/USD | $20 |
| EUR/MXN, GBP/MXN, USD/RUB | $30 |
| EUR/TRY, GBP/TRY, USD/TRY | $70 |
| XNG/USD | $80 |
Account Registration
The process of opening an account with FP Markets takes just a few minutes. Kenyan traders will be asked to validate their email address after completing a simple online form.
The KYC procedure requires traders to submit a legal copy of their government ID or other forms of documentation, as well as evidence of domicile, to prove their identity.
Traders may begin trading as soon as their accounts have been validated and the required minimum deposit has been made. In addition, if traders need assistance with the account opening process, customer support is always available.
How to Register Your Account on FP Markets
👉 Step 1 – Go to the official FP Markets website
➡️ Go to the official FP Markets website and click on “Quick Start”. Now click on “Open Live” or “Try Demo”, whichever account you want to open.
👉 Step 2 – Fill Out Your Details
➡️ Now fill out your personal details such as email, first and last name, country of residence, and gender.
👉 Step 3 – Verify Your Account
➡️ You can now verify your account by clicking on the link sent to your email address. Once verified you can now trade with your account.
FP Markets Vs AvaTrade Vs OANDA – Broker Comparison
| FP Markets | AvaTrade | OANDA | |
| ⚖️ Regulation | ASIC, CySEC | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA | IIROC, ASIC, CFTC, NFA, FCA, FFAJ, MAS, MFSA |
| 📱 Trading Platform | • MetaTrader 4 • MetaTrader 5 • WebTrader • Myfxbook AutoTrade • FP Markets App | • AvaTradeGO • AvaOptions • AvaSocial • MetaTrader 4 • MetaTrader 5 • DupliTrade • ZuluTrade | • MetaTrader 4 • MetaTrader 5 • OANDA Web • OANDA Mobile |
| 💰 Withdrawal Fee | Yes | No | None |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | 8,500 KES | 11,000 KES | 0 KES |
| 📈 Leverage | 1:500 | 1:400 | 1:200 |
| 📊 Spread | 0.0 pips | Fixed, from 0.9 pips | Variable, from 0.1 pips |
| 💰 Commissions | From US$3 | None | 40 USD / 4,500 KES |
| ✴️ Margin Call/Stop-Out | 100%/50% | 25%/10% | Stop-out of 50% |
| ✴️ Order Execution | Market | Instant | Market |
| 💳 No-Deposit Bonus | No | No | No |
| 📊 Cent Accounts | No | No | No |
| 📈 Account Types | • MT4/5 Standard Account • MT4/5 Raw Account • MT4/5 Islamic • Standard Account • MT4/5 Islamic Raw Account | • Standard Live Account • Professional Account Option | • Standard Account Core Account • Swap-Free Account |
| ⚖️ CMA Regulation | None | No | No |
| 💳 KES Deposits | Yes | No | Yes |
| 📊 Kenyan shilling Account | No | Yes | No |
| 👥 Customer Service Hours | 24/7 | 24/5 | 24/5 |
| 📊 Retail Investor Accounts | 4 | 1 | 3 |
| ☪️ Islamic Account | Yes | Yes | Yes |
Trading Platforms
👉 FP Markets offers a choice between these trading platforms:
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ WebTrader
➡️ Myfxbook AutoTrade
➡️ FP Markets App
Desktop Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
👉 Forex traders in Kenya can use MetaTrader 4 because it offers real-time market pricing and quick transaction execution. In addition, FP Markets provide powerful charting tools, a wide selection of technical indicators, and up-to-date market news and technical analysis through the desktop platform, ensuring that Kenyan customers have an amazing trading experience.
👉 MetaTrader 5 is a multi-asset trading platform built for Forex and CFD trading. Trading in Forex, shares, metals, commodities, indices, and cryptocurrencies is a breeze with the MT5 platform for Windows, Linux, and macOS X from FP Markets.
WebTrader Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ WebTrader
➡️ Myfxbook AutoTrade
👉 With MetaTrader 4, almost any computer or mobile device with a web browser may access the trading platform. WebTrader is an alternative for people who desire to trade utilizing web browsers such as Google Chrome, and there are versions for both Windows and Mac.
👉 A powerful programming language makes it simple to create automated trading methods that may be executed instantly via MetaTrader 4. When it comes to international currency conversion, nothing beats the simple, customizable user interface of MetaTrader web.
👉 As a bonus, MetaTrader 5 offers a great deal of flexibility. FP Markets is available for Mac OS as well as other operating systems. WebTrader is a web-based trading platform that can be accessed through any major internet browser.
👉 Fast execution and low spreads make FP Markets a great choice for Kenyan traders who use EAs like AutoChartist to trade through MetaTrader 5. Automated trading systems like AutoTrade may help traders enhance their accuracy in Forex and CFD trading.
👉 Through WebTrader, traders can use their FP Markets Account to connect to either MetaTrader 4 or 5, offering a high level of flexibility to traders. Kenyans can trade from any browser of their choice, without the need to download and install the software.
👉 Forex trade mirroring service AutoTrade is widely regarded as the best in the business. To mimic traders with an established track record, FP Markets customers may utilize sophisticated copy trading tactics.
👉 Users of FP Markets’ MetaTrader 4 (MT4) live account may utilize the AutoTrade feature to look at the previous performance of trading methods and then replicate them into their account. Because it is tailored to the MetaTrader 4 trading platform, AutoTrade is great for scalping with the least amount of slippage possible.
👉 In addition, Myfxbook AutoTrade has a wide range of features, including a customizable interface and excellent trading statistics.
Trading App
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ FP Markets App
👉 As the popularity of cellphones has grown, so has the software. Mobile trading versions of MT4 are available for both Android and iOS users through the App Store and Google Play. On iPhone, iPad, and other application-based devices, forex traders may effortlessly access the worldwide market.
👉 One of the main benefits of the MetaTrader 5 trading app, is that Kenyan traders can conduct market research on the site, which is expanding in features.
👉 Among the features are advanced charting and technical analysis tools as well as forex indications and improved functionality for pending orders.
👉 A trading app for forex, commodities, commodities indexes, indices of equities, and futures and cryptocurrency markets is now available for Android and iOS through FP Markets. Kenyan traders have access to a diverse range of instruments, the best functionality, a range of features, and more with the FP Markets app.
Range of Markets
👉 FP Markets offers the following range of markets:
➡️ Forex
➡️ Shares
➡️ Metals
➡️ Commodities
➡️ Indices
➡️ Cryptocurrencies
➡️ Bonds
Broker Comparison for Range of Markets
| FP Markets | AvaTrade | OANDA | |
| ➡️️ Forex | Yes | Yes | Yes |
| ➡️️ Precious Metals | Yes | Yes | Yes |
| ➡️️ ETFs | No | Yes | No |
| ➡️️ CFDs | Yes | Yes | Yes |
| ➡️️ Indices | Yes | Yes | Yes |
| ➡️️ Stocks | Yes | Yes | Yes |
| ➡️️ Cryptocurrency | Yes | Yes | No |
| ➡️️ Options | No | Yes | No |
| ➡️️ Energies | Yes | Yes | Yes |
| ➡️️ Bonds | No | Yes | Yes |
Trading and Non-Trading Fees
Spreads
👉 The spreads that traders can expect from FP Markets will be unique to every account type and financial instrument. With variable spreads, traders can expect changes according to these factors along with the overall market conditions on the trading day that could cause spreads to increase or decrease.
👉 The average spreads charged by FP Markets are as follows:
➡️ MT4/5 Standard Account – 1 pip EUR/USD
➡️ MT4/5 Raw Account – 0.0 pips EUR/USD
➡️ MT4/5 Islamic Standard Account – 1 pip EUR/USD
➡️ MT4/5 Islamic Raw Account – 0.0 pips EUR/USD
Commissions
👉 Commissions represent a flat fee that is charged by FP Markets as a service fee for facilitating trades. The average commissions are charged as follows:
➡️ MT4/5 Raw Account – US$3 per side
➡️ MT4/5 Islamic Raw Account – US$3 per side
Overnight Fees, Rollovers, or Swaps
👉 When calculating overnight fees, FP Markets uses the timestamp on the trading platforms when implementing these fees at midnight. Only positions that are held past 24 hours will be subject to swaps and these can either be negative or positive, depending on the interest rate differential between the currencies that are being held open.
👉 Kenyan traders should be aware of the possibility of negative exchange rates on specific currency pairs in rare instances. So that traders do not have to bother about calculating swaps, the MetaTrader 4 and 5 platforms perform it for them automatically.
👉 FP Markets utilizes the standard lot size of 100,000 base currency units for each currency pair for calculating overnight expenses. FP Markets typically charges the following overnight fees to traders:
➡️ EUR/USD – a long swap of -5.50 and a short swap of 0.38
➡️ BTC/USD – a long swap of -20.00 and a short swap of -20.00
➡️ US100 – a long swap of -1.07 and a short swap of -0.94
➡️ XAG/USD – a long swap of -1.36 and a short swap of -0.78
➡️ XAU/USD – a long of -4.88 and a short swap of -1.82
Deposit and Withdrawal Fees
👉 FP Markets does not charge Kenyan traders any fees when they fund the trading account. However, withdrawal fees are applied as follows:
➡️ International Bank Wire other than AUD – 10 AUD
➡️ Neteller – 2% up to 30 USD in addition to country fees
➡️ Skrill – 1% and country fees
➡️ Fasapay – 0.50%
➡️ PayTrust – 1.5%
➡️ Dragonpay – 1.5%
➡️ Perfect Money – 0.5%
➡️ Asian, African, and Latam Payments – 2%
➡️ Cryptocurrency Payments – Blockchain fees
➡️ MPSA – 7.25%
➡️ FairPay – 0.5% plus an additional flat fee of 10 USD
➡️ Paylivre – 1.5%
➡️ Finrax – Blockchain fees
➡️ Sticpay – 5% for bank wire and 2.5% for wallet fees
➡️ Thai Pay – 0.5%
Overall Rating
- 4.8/5
Min Deposit
USD 100 / 11560 KES
Regulators
ASIC, CySEC, FSCA
Trading Desk
MetaTrader 4, MetaTrader 5
Crypto
Yes
Total Pairs
63
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Deposits and Withdrawals
👉 Kenyan traders can choose from these deposit methods to fund the trading account:
➡️ Debit Card
➡️ Bank Transfer
➡️ Neteller
➡️ Skrill
➡️ PayTrust
➡️ Sticpay
➡️ Fasapay
➡️ PlusDebit
➡️ Rupee Payments
➡️ Dragonpay
➡️ Perfect Money
➡️ Asian, African and Latam Payments
➡️ Paylivre
➡️ Cryptocurrency (LetKnowPay)
➡️ Rapyd Bank Transfer
➡️ Rapid Transfer
➡️ Finrax
➡️ Broker to Broker
👉 When withdrawing funds from a trading account, Kenyan traders can choose from these methods:
➡️ Debit Card
➡️ Credit Card
➡️ Domestic Bank Wire
➡️ International Bank Wire
➡️ Neteller
➡️ Skrill
➡️ Fasapay
➡️ PayTrust
➡️ Dragonpay
➡️ Perfect Money
➡️ Cryptocurrency
➡️ MPSA
➡️ FairPay
➡️ Paylivre
➡️ Finrax
➡️ Sticpay
➡️ Rupee Payments
➡️ Rapid
➡️ PlusDebit
How to Deposit Funds with FP Markets
👉 To deposit funds, Kenyan traders can log into the secure Client Area and select “Funding” from the left side of their screen. Traders can then click on “Deposit” and choose the trading account that will be funded. Next, traders can choose a payment method, enter the deposit amount, and the deposit currency before clicking on “Submit.”
How to Withdraw Funds with FP Markets
👉 To withdraw funds, Kenyan traders must log into the Client Area, select “Funding,” and then “Withdraw,” and submit the request by completing the request form. Traders must note that they are obliged to choose the same payment method that they used when they deposited funds, and only when deposits have been withdrawn can traders use alternative ways to withdraw profits.
👉 For instance, if the trader has deposited 100 KES using a credit or debit card deposit, the card withdrawal must be made to the same credit or debit card. If the trader used bank wire transfer, they must withdraw funds to the same bank account that was used during the deposit, and so on.
👉 If traders have used several different deposit methods to fund a trading account, they need to withdraw the same amount that they deposited back to every payment method, with card payments taking preference.
👉 Once the deposits have been withdrawn to the card that was used, traders can make the remaining withdrawals following the same order in which the initial deposits had been made into the trading accounts.
👉 Once this is complete, traders can choose any of the other funding methods to withdraw profits that were made on the trading account, subject to FP Markets’ approval.
FP Markets Education and Research
FP Markets offers the following Educational Materials:
➡️ Trading Courses Videos
➡️ Webinars
➡️ Podcasts
➡️ Events
➡️ Platform Video Tutorials
➡️ eBooks
➡️ Glossary
➡️ Newsletter
➡️ FP Markets Academy
FP Markets offers Kenyan traders the following Research and Trading Tools:
➡️ Trader’s Hub
➡️ Trading Knowledge
➡️ Technical Analysis
➡️ Fundamental Analysis
➡️ Economic Calendar
➡️ Forex Calculator
➡️ Traders Hub Blog
FP Markets Affiliate Program
Partnership programs offered by FP Markets are meant to reward and remunerate both introducing brokers and partners that bring new customers to FP Markets.
FP Markets provides the following perks and services to its affiliates:
➡️ Advanced real-time tracking technology
➡️ 24/5 advanced reporting
➡️ Unlimited access to dedicated conversion specialists
➡️ Multilingual marketing tools
➡️ Customized deals
➡️ Several flexible payment structures
➡️ Innovative Introducing Broker and Affiliate portals
➡️ Fast and easy payments
➡️ Lucrative commissions that can be earned from FP Markets
Verdict on FP Markets
With over a decade of trading expertise, FP Markets is a registered broker that offers a wide variety of trading products across several worldwide markets. FP Markets is a great, well-known broker that provides its customers with a wide range of educational tools and resources.
FP Markets’ commission costs are hefty, but the benefits far exceed the drawbacks. Excellent trading conditions, quick responses from customer care, and the usage of robust trading platforms distinguish this broker from the competition.
FP Markets Pros and Cons
| ✔️ Pros | ❌ Cons |
| Well-regulated broker that ensures client fund security and provides investor protection | There are additional fees charged on the Islamic Account |
| FP Markets is known for its ECN pricing model that includes raw and tight spreads | There is no KES-denominated trading account |
| There is a no requote policy and FP Markets is an NDD broker | Withdrawal fees are charged |
| There are several deposit and withdrawal options offered | |
| Kenyan traders are welcomed and accommodated regardless of their trading experience | |
| Commission-free accounts are offered | |
| Powerful trading platforms are offered | |
| FP Markets now offers an innovative proprietary trading app |
Frequently Asked Questions
Is FP Markets regulated and by whom?
Yes, FP Markets is regulated by CySEC and ASIC.
Which financial instruments can I trade with FP Markets?
You can trade a range of markets from the following asset classes:
- Forex
- Shares
- Metals
- Commodities
- Indices
- Cryptocurrencies
- Bonds
Which trading platforms are supported by FP Markets?
FP Markets supports the use of these trading platforms:
- MetaTrader 4
- MetaTrader 5
- WebTrader
- Myfxbook AutoTrade
- FP Markets App
Does FP Markets offer leverage and what is the maximum ratio offered?
Yes, FP Markets offers maximum leverage up to 1:500.
What are the spreads that FP Markets charges?
You can expect the following average spreads when you trade with FP Markets:
- MT4/5 Standard Account – 1 pip EUR/USD
- MT4/5 Raw Account – 0.0 pips EUR/USD
- MT4/5 Islamic Standard Account – 1 pip EUR/USD
- MT4/5 Islamic Raw Account – 0.0 pips EUR/USD
Does FP Markets charge commissions per trade?
Yes, FP Markets offers the following commissions:
Does FP Markets offer an Islamic Account?
Yes, FP Markets offers a Standard and Raw Islamic Account on both MetaTrader 4 and 5.
Does FP Markets offer a Demo Account?
Yes, FP Markets offers a demo account.
What account types does FP Markets offer?
FP Markets offers the following retail investor accounts:
- MT4/5 Standard Account
- MT4/5 Raw Account
- MT4/5 Islamic Standard Account
- MT4/5 Islamic Raw Account
Which deposit currencies can I use to make a deposit?
You can use the following deposit currencies when you make a deposit:
What is the minimum deposit required to register an account with FP Markets?
8,500 KES (equivalent to AU$100).
What is the overall rating for FP Markets out of 10?
9/10.
Is FP Markets suitable for beginner and professional traders?
Yes, FP Markets is an ideal broker that can be used by beginner and professional traders.
