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FP Markets Fees and Spreads

FP Markets Fees and Spreads

FP Markets spreads start from the average spread of 0.0 pips EUR/USDand the commission depends on the trading account the trader is using. 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.

Updated : September 27, 2022

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FP Markets Fees and Spreads

Fees and Spreads Overview

FP Markets Fees and Spreads

Additional Trading Fees

FP Markets Fees and Spreads

Broker Fees

FP Markets Fees and Spreads

Pros and Cons

FP Markets Fees and Spreads

Final Verdict

FP Markets Fees and Spreads

FAQ

Overall Rating

Min Deposit

USD 100 / 11560 KES

Regulators

Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

Total Pairs

63

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Fees and Spreads

👉 The spread list for FP Markets starts from 0.0 pips on major financial instruments such as EUR/USD.

 

👉 Kenyans should expect a different spread list while trading with FP Markets depending on the financial instrument being traded, the trading account used, and the market conditions on the trading day.

 

👉 Spreads at FP Markets will vary according to these criteria, and Kenyans can expect various spreads for the following account types:

➡️ 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

 

👉 Additional spreads that Kenyans can expect according to different accounts and financial instruments are as follows.

Additional Trading Fees

FP Markets Review Commissions

Commissions

👉 Even though FP Markets has 0-pip spreads, there is a commission fee on the following accounts because of the tight spreads. This commission pays the broker fees for making the trade possible. Kenyan traders can expect the following commissions:

➡️ MT4/5 Raw Account – US$3 per side

➡️ MT4/5 Islamic Raw Account – US$3 per side

 

Overnight Fees, Rollovers, or Swaps

👉 FP Markets offers all currency rates for each product on its website. Using current bank interest rates and adding a little markup imposed by FP Markets, swap costs are computed.

👉 FP Markets’ overnight fees vary according to the financial instrument, position size, position type, and time a position is kept open.

👉 The following are some common swap fees for Kenyan retail traders:

Broker Fees

FP Markets Review Overnight Fees

Deposit and Withdrawal Fees

👉 FP Markets does not impose deposit fees, but blockchain costs could apply when Kenyan traders use cryptocurrencies to fund their accounts or withdraw monies. In addition, the following withdrawal fees are assessed according to the payment type used:

➡️ 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%

➡️ Cryptocurrency Payments – Blockchain fees

➡️ MPSA – 7.25%

➡️ FairPay – 0.5% plus an additional flat fee of 10 USD

➡️ Finrax – Blockchain fees

➡️ Sticpay – 5% for bank wire and 2.5% for wallet fees

➡️ Rupee Payments – 5.75%

➡️ Rapid Transfer – 1%

➡️ Virtual Pay – 2%

➡️ XPAY – 1.5% for all currencies apart from THB

➡️ LuqaPay – 3%

➡️ Pagsmile – 3%

 

Inactivity Fees

👉 A benefit of FP Markets is that you will not be charged any fees or penalties if you do not utilize your account for an extended period.

 

Currency Conversion Fees

👉 When Kenyan traders deposit funds in KES and this does not match their base account currency, they will face currency conversion fees. This can either be a flexible or set amount as determined by FP Markets.

FP Markets Kenya Pros and Cons

✔️ Pros❌ Cons
FP Markets is a well-regulated brokerAdministration fees charged on the Islamic Account
A dedicated Islamic account option are offered to Muslim tradersNo fixed spread accounts offered
A wide range of markets can be traded across asset classesWithdrawal fees charged
Powerful trading platforms for several devices are provided
Kenyan traders receive an ECN pricing model with raw and tight spreads
Fast trade execution through Equinix servers is guaranteed
Copy-trading and automatic trading is offered
Commission-free trading is possible
No inactivity fees charged on dormant accounts

Verdict on FP Markets

👉 Overall, FP Markets is very competitive in terms of its trading fees and spreads.

FAQ

What leverage ratio does FP Markets offer?

You can expect leverage between 1:1 and up to 1:500 with FP Markets, depending on the financial instrument that you wish to trade.

 

Is FP Markets a true ECN broker?

Yes, FP Markets is both an STP and an ECN broker, which means that you can expect zero-pip spreads and lightning-fast trade execution.

 

Is FP Markets regulated by the CMA in Kenya?

No, FP Markets is currently only regulated by the ASIC in Australia and CySEC in Cyprus.

 

What is the minimum deposit for FP Markets?

The minimum deposit for an account with FP Markets is 100 AUD or 8,500 KES.

 

What spreads can I expect from FP Markets?

You can expect spreads that start from 0.0 pips on the Raw Accounts, the dedicated ECN accounts offered by FP Markets.

9.5/10 - (22 votes)