FP Markets provides traders with the industry-leading MT4 platform, its successor MT5, and cTrader and Iress. Traders get a twelve-plugin MT4/MT5 upgrade plus Autochartist, but the Iress has some restrictions based on user location. FP Markets caters to traditional account management via standard MAM/PAMM modules, algorithmic traders get VPS hosting, manual traders benefit from the Trading Central community and tools, and copy traders can use the embedded MT4/MT5/cTrader services, Myfxbook Autotrade, or the in-house social trading platform.
Exness is also considered a leading Forex broker, as evident by their monthly trading volumes exceeding $3.5 trillion and 100+ currency pairs that can be traded. Traders can use MT4/MT5 or opt for the proprietary Exness Terminal and mobile app Exness Trade. Exness also features one of the lowest cost structures industry-wide, flexible leverage, and excellent order execution. The broker handles $1.3+ billion in quarterly withdrawals, and Exness has therefore proven it can operate at a huge scale effectively.
We have conducted an in-depth review of FP Markets and Exness to determine which presents the better overall choice and which specific needs of traders are catered for best by the two firms.
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Headquarters | Australia | Cyprus |
Regulators | ASIC, CMA, CySEC, FSCA | CMA, CySEC, FCA, FSA, FSC Belize, FSC Mauritius, FSCA |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2005 | 2008 |
Execution Type(s) | ECN/STP | Market Maker |
Minimum Deposit | $100 | $10 (based on the account type) |
Negative Balance Protection | ||
Trading Platform(s) | MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-based | MetaTrader 4, MetaTrader 5, Proprietary platform |
Average Trading Cost EUR/USD | 1.2 pips | 0.6 pips |
Average Trading Cost GBP/USD | 1.4 pips | 0.7 pips |
Average Trading Cost WTI Crude Oil | $0.02 | 6.7 pips |
Average Trading Cost Gold | $0.16 | 11.3 pips |
Retail Loss Rate | 72.44% | Undisclosed |
Minimum Raw Spreads | 0.0 pips | 0.0 pips |
Minimum Standard Spreads | 1.0 pips | 0.3 pips |
Minimum Commission for Forex | $6.00 per Round Lot | $7.00 per 1.0 standard round lot |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
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Features & Platforms
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MT4 | ||
MT5 | ||
MT4/MT5 Add-Ons | ||
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
Social/Copy Trading | ||
DOM? | ||
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | ||
OCO Orders | ||
Interest on Margin | ||
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Noteworthy:
FP Markets offers quality educational content, while Exness has a proprietary copy trading service.
Available Markets
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Currency Pairs | ||
Cryptocurrencies | ||
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks (non-CFDs) | ||
Bonds | ||
ETFs | ||
Options | N/A | |
Futures | ||
Synthetics | ||
| Visit Website | Visit Website |
The FP Markets asset selection available depends on the trading platform used. Therefore, the geographic location of traders is important. Only Iress provides the most comprehensive choice, and this platform is not available in every jurisdiction. Exness is a superb Forex broker with 100+ currency pairs and features a better cryptocurrency selection than FP Markets. Still, FP Markets wins with its more balanced offering.
Typical Spreads & Fees
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Average Trading Cost EUR/USD | 1.2 pips | 0.6 pips |
Average Trading Cost GBP/USD | 1.4 pips | 0.7 pips |
Average Trading Cost WTI Crude Oil | $0.02 | 6.7 pips |
Average Trading Cost Gold | $0.16 | 11.3 pips |
Average Trading Cost Bitcoin | $21.08 | 161.1 pips |
Minimum Raw Spreads | 0.0 pips | 0.0 pips |
Minimum Standard Spreads | 1.0 pips | 0.3 pips |
Minimum Commission for Forex | $6.00 per Round Lot | $7.00 per 1.0 standard round lot |
Deposit Fee | ||
Withdrawal Fee | ||
Inactivity Fee | No | No |
| Visit Website | Visit Website |
FP Markets and Exness feature competitive commission-based trading fees, but Exness has lower overall commissions. The same applies to the commission-free alternative. Equity CFD trading fees depend on the instrument, where FP Markets maintains an edge.
Account Types
Account Types | FP Markets | Exness |
Commission-free Accounts | Yes | Yes |
Commission-based Accounts | Yes | Yes |
Demo Accounts | Yes | Yes |
Islamic Accounts | Yes | Yes |
Social / Copy Trading | Yes | Yes |
Managed Accounts | Yes | No |
FP Markets and Exness both offer commission-free and commission-based accounts. The FP Markets minimum deposit requirement is $100. At the same time, Exness has no minimum deposit requirement for the Exness Standard MT5 account. Still, traders must deposit at least $200 for the Raw Spread, ECN, and Pro options. Both brokers offer unlimited demo accounts and Sharia-compliant Islamic alternatives. One difference between the two firms is that FP Markets supports account management services via MAM/PAMM modules.
Minimum Deposit
Deposit Snapshot | FP Markets | Exness |
Minimum Deposit | $100 | $0 (payment processor dependent) |
Deposit Fees | Third-party (except for bank wires) | Third-party |
e-wallets | Yes | Yes |
Cryptocurrencies | Yes | Yes |
Localized Methods | Yes | Yes |
Total Deposit Methods | 30 | 7+ |
Supported Deposit Currencies | 45+ | 75+ |
FP Markets has a $100 minimum deposit versus $0 to $200 at Exness. The figure depends on the account type and payment processor the trader uses to fund the account. Both brokers support cryptocurrencies as deposits and have a range of e-wallets. FP Markets has more payment processors approved and ranked among the leading brokers offering choices in this category. Helpfully, both brokers support an outstanding range of deposit currencies.
Minimum Withdrawal
Withdrawal Snapshot | FP Markets | Exness |
Minimum Withdrawal | $0 (payment processor dependent) | $0 (payment processor dependent) |
Internal Withdrawal Fees | Payment processor dependent (free options exist) | $0 (third-party processing fees may apply) |
Internal Processing Times | Instant to two business days | Instant to 24 hours (without manual approval) |
The FP Markets and Exness minimum withdrawal amounts depend on the payment processor selected as the withdrawal method. Regardless of stated fees, traders should avoid micro-transactions, as third-party payment processing fees may apply. Exness does not levy internal fees, while FP Markets has several free options, and some methods incur a processing fee. Both brokers have payment processors with instant payment processing times.
Security & Trust
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Country of the Regulator | Australia, Cyprus, Kenya, South Africa | Cyprus, Kenya, Mauritius, Seychelles, United Kingdom, British Virgin Islands, South Africa, Curaçao |
Name of the Regulator | ASIC, CMA, CySEC, FSCA | CMA, CySEC, FCA, FSA, FSC Belize, FSC Mauritius, FSCA |
Regulatory License Number | 286354, 103, 371/18, 50926 | SD025, 0003LSI, SIBA/L/20/1133, 51024, GB20025294, 178/12, 730729, 162 |
| Visit Website | Visit Website |
FP Markets and Exness rank among the most secure and trusted brokers worldwide, with excellent track records gained from well-regulated trading environments. Negative balance protection for retail traders exists at FP Markets and Exness, and both brokers actively segregate client deposits from corporate funds. Exness offers an investor compensation fund to all traders. At the same time, such protections are available at FP Markets depending on the operating subsidiary the trader onboards with.
FP Markets versus Exness Verdict
FP Markets
Pros | Cons |
Choice of trading platforms and supportingtrading tools | Availability of Iress platform geographically restricted |
Extremely competitive cost structure and excellent asset selection | Limited commodities and metals selection |
Low minimum deposit requirement andleverage of up to 1:500 | |
Well-regulated and trustworthy |
Exness
Pros | Cons |
Instant withdrawals from a trusted broker with numerous payment processors | No educational content for beginners |
Elevated level of transparency and financial audits by Big Four accountancy firm Deloitte | |
Multi location-regulated broker with excellent order and volume statistics | |
Excellent 24/7 multi-lingual customer service |
Exness is an industry-leading Forex broker and a competitive option for cryptocurrency traders. It is ideal for more demanding algorithmic traders and scalpers. FP Markets is the better overall choice, especially for beginners due to its educational content and helpful trading tools, and for equity traders in countries where Iress is available. FP Markets also shines with its payment processor choices.
You might also be interested in reviewing the below broker comparisons:
- FP Markets vs CMC
- FP Markets vs Pepperstone
- FP Markets vs FxPro
- Exness vs XM
- Exness vs Octafx
- Exness vs FXTM
Among the many competitors of FP Markets are Exness, Robo Forex, IG Markets, Pepperstone, CMC Markets, and IC Markets. Exness ranks among the best brokers for Forex traders due to its cutting-edge trading infrastructure, ultra-low Forex trading fees, and superb order execution. FP Markets is an outstanding broker featuring competitive trading fees, excellent trading platforms, and quality trading tools. It is a trusted broker suitable for all popular trading strategies.FAQs
Who are FP Markets’ competitors?
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Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.