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TradersBest.com / FP-Markets Review

Crypto Trading FPMarkets Review South Africa 2024

Crypto
FP-Markets
Favicon
3.8/5
Minimum Deposit
100.00€
Deposit Protection
20,000.00€
Amount of Currencies
12
BTC/USD Spread
62
Go to FP-Markets
T&Cs apply, 21+
Details
Payment Methods
User Reviews
Video Review

FPMarkets is a global CFDs and Forex broker that has been in the industry since 2005. The company was started to offer traders easier access to over 70 forex pairs, shares, indices, commodities and cryptocurrencies.

They have managed to maintain a solid industry reputation by delivering a world-class service. FPMarkets promises the best pricing, platform, products, customer support, execution speed and market analysis out there. They have also managed to establish a remarkable global presence as one of the giants within the industry.

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Pros & Cons of FPMarkets
  • Very low fees for most trading options
  • 0.0 pip spreads
  • No price manipulation
  • Fast trade execution
  • Stock CFD fees are a little above industry standard
Payment Methods
Neteller
Bank Transfer
PayPal
+
License
ASIC - Australian Securities and Investments Commission
Company
First Prudential Markets Pty Ltd
Founded
2005
Website
fpmarkets.com
Available Languages
EN
DE
+
Customer Support
Live Chat, Phone, Email Support
Email
supportteam@fpmarkets.com
Phone
+44 28 2544 7780
Overall Rating
3.8/5
  • Usability, Look & Feel
    3.8/5
  • Mobile App
    3.6/5
  • Payment Methods
    3.7/5
  • Customer Service
    3.6/5
Payment Provider Safety
Neteller high
Bank Transfer very high
PayPal very high
Visa high
Mastercard high
No review posted yet.
User Rating
0/5
5 Stars
0%
4 Stars
0%
3 Stars
0%
2 Stars
0%
1 Star
0%

Watch our in-depth review of FP Markets!

Alexander Foster
Last Updated on 20/02/2024

Security, Usability, Look & Feel - A user-friendly brokerage

FPMarkets crypto South Africa has one of the most comprehensive web page offers on the market and as with any of our reviews, our team of experts takes a close look at the webpage security, usability, look and feel. The majority of your trading career will be done on this website and it is important to know just how well the service is designed. The webpage does feature Transport Layer Security and all traffic that is exchanged while using the site will be encrypted and secured with the standard security method for just about any webpage. Be sure to check the URL begins with https:// to ensure that each page is encrypted.

FP-Markets
3.8/5
FP-Markets Crypto
T&Cs apply, 21+
Go to FP-Markets
FP-Markets Highlights
  • Low trading fees across the site
  • Fast trade execution on crypto
  • No price manipulations

The design of the website itself could use a little bit of work. It is fairly easy to use and browsing to the different departments and resources was done with no effort at all. That being said, the majority of the pages lost their layout when the webpage was scaled down for mobile devices. The service is definitely optimised for computer users. The look of the website is sleek and professional with a vibrant colour scheme. The feel of the page is also of a very high standard, the amount of effort to convey their professional service is clearly evident.

How to Trade – Quick tips for FPMarkets crypto trading

Trading FPMarkets crypto can be done fairly easily as their sign up process is optimised very well. Once you arrive at the homepage, you can head to the ‘Open a FREE trading account’ button in the top right of the screen and input all your personal data to open an account. You will then need to verify your email address and submit the necessary proof of residence and ID documents to ensure that your account is linked to your name. FPMarkets crypto trading will also then require some real funds to be deposited into your account, make use of your preferred payment method and deposit any amount above the minimum value.

If you are looking to buy some FPMarkets Bitcoin, you will then need to use the trading platform and head to the FPMarkets cryptocurrency section to begin your trading career. This can be done by specifying an amount of units you would like to purchase as well as the price of the units. Be sure to use the educational resources available before you begin making major trades.

Company
Company First Prudential Markets Pty Ltd
Headquarter Level 5, Exchange House, 10 Bridge Street, NSW2000 Sydney, Australia
Year of Founding 2005
CEO Matt Murphie
Website www.fpmarkets.com
Available Languages English, German, French, Italian, Spanish, Russian, Polish, Portuguese, Arabic
Customer Support Live Chat, Phone, Email Support
Email supportteam@fpmarkets.com
Phone +44 28 2544 7780
Licence ASIC – Australian Securities and Investments Commission
ASIC - Australian Securities and Investments Commission
Verified by
Payment Methods
Neteller
Bank Transfer
PayPal
Visa
Mastercard
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Payments - Adding funds to your FPMarkets crypto account

To trade crypto on FPMarkets, you will need to have access to one of the supported payment methods that are available with their service. Any online service provider will allow their customers to transact in a variety of ways and it has become the standard for brokers to offer the largest variety of payment methods possible to try and attract the most customers possible. One of the main factors of our FPMarkets crypto review involves their specific payment methods and the limits and processing times applicable.

Neteller
Bank Transfer
PayPal
Visa
Mastercard

The traditional credit and debit card options are available with FPMarkets and any customers who prefer to use ewallets will also find that Skrill and Neteller are supported by the FPMarkets service. A minimum deposit amount of $100 AUD will apply to both the Standard and Raw account options. This rand value changes fairly frequently but at the time of writing it is about R1200. Once you have deposited your funds, you will be able to transact with your Australian dollars to trade any of the available options. The majority of payment methods are instant.

Customer Service - A friendly support team at FPMarkets

One of the biggest pulls towards FPMarkets crypto trading is their renowned customer service that is available to everyone. You will be able to contact the customer service team via telephone, email, live chat and there are even physical addresses to which customers can send mail. The customer service was found to be remarkably efficient and any query was addressed with a very friendly manner. The live support team was also very professional and had in-depth knowledge surrounding the entire FPMarkets crypto South Africa service. To get an idea of how this compares to another broker on the market, head to our BDSwiss review.

License & Security - Is FPMarkets secure and reliable?

Our FPMarkets crypto review found that the ASIC, CYSEC, and FSCA regulate the online broker. They also boast full licenses from the Securities Commission of the Bahamas and are regulated by these external commissions. Client funds are held in segregated tier 1 bank accounts to ensure that FPMarkets abide by the regulations set out. The partner financial institutions also give further testament to the legality of their service, HSBC, Barclays and Goldman Sachs are among some of the big names present.

ASIC - Australian Securities and Investments Commission
CySEC - Cyprus Securities and Exchange Commission
FSCA - South African Financial Sector Conduct Authority

The entire service at FPMarkets is encrypted and all users can view their privacy policy to gain a clearer understanding of exactly what is done to safeguard their data. To see how the competition stacks up, head to our Plus500 crypto page.

Reputation and Customer Feedback – Plenty of happy customers

Our FPMarkets review found that they have maintained a solid reputation within the online broker community and there are plenty of satisfied customer reviews on their website. As always, there are also a number of negative reviews that can be found but the majority of these have been responded to by the customer service team of FPMarkets, this gives further proof of the lengths the company is willing to go through to maintain their status as an industry leader.

Cryptocurrencies - What FPMarkets crypto options are available?

Trading cryptocurrencies has very quickly become one of the cornerstones of an online broker’s service. Cryptocurrencies allow customers to be able to transact confidentially and securely. The cryptocurrency itself will consist of a software system and a unit value. The majority of cryptocurrencies are decentralised and can be traded at any time of the day. The ease of trading and the security benefits have drawn plenty of traders from all over the world and the FPMarkets crypto service aims to provide the best service out there.

FP-Markets
3.8/5
FP-Markets Crypto
T&Cs apply, 21+
Go to FP-Markets
FP-Markets Highlights
  • Low trading fees across the site
  • Fast trade execution on crypto
  • No price manipulations

The cryptocurrency revolution has been steadily gaining momentum over the years and FPMarkets offers cryptocurrency CFDs to be able to join the ranks of crypto traders. With FPMarkets crypto trading, you will have the ease of trading crypto CFDs which eliminates the need for a crypto wallet. The crypto markets available are Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, Cardano, Dogecoin, Polkadot, EOS, Chainlink, Ripple, Solana, and Stellar.

If you are in the market for a broker that offers a larger variety of cryptocurrency options, be sure to check out our crypto trading page. Our FPMarkets review 2024 found their trading platform to be among the best on the market and customers will be able to trade with ease. There are also expert advisors available and a host of learning resources and educational content that can help in making your trading career a success.

Fees - Are there any FPMarkets fees?

As with any online service, your account will be subject to fees while using any aspect of the service. The industry has become quite competitive in this regard as each broker looks to claim the lowest fees available. Fees will be applied in a variety of ways depending on the trading option you have chosen. For the most part, these fees will be detailed with each transaction made but we will run through the more general costs that you will encounter when using the FPMarkets service.

Our FPMarkets review 2024 found the specific fees to be dependent on account type that is chosen. With the Raw account, your spreads pips will start from 0.0 but you will have $3.00 ASX commission. The standard account offers from 1.0 pips on your spread but alternatively has zero ASX commission fees. Depending on how you plan on trading, the better choice of these two accounts will be specific to you. Check out our FOREX.com review to see just how their fees compare.

Jurisdictions and Limits - Minimal limits found in our FPMarkets review

Having the best online service would mean nothing if the company does not have the necessary jurisdiction to operate legally in South Africa. With so many online operators popping up all over the world, it is important to validate whether the service is legitimate or not and whether you will be protected if you should run into any trouble with the online operator. Our FPMarkets crypto review found that the company does have the necessary jurisdiction to offer their service in South Africa and their service is strictly regulated by external commissions.

FP-Markets
3.8/5
FP-Markets Crypto
T&Cs apply, 21+
Go to FP-Markets
FP-Markets Highlights
  • Low trading fees across the site
  • Fast trade execution on crypto
  • No price manipulations

To avoid handling microtransactions, there will be a number of limits set within the FPMarkets service. This usually includes minimum deposit and withdrawal amounts and might also involve trading amounts. The limits found at FPMarkets were found to depend on the account type that the customer chooses to sign up for. For a standard account, the minimum deposit is $100 AUD. This value only increases if a higher tier account is chosen.

Other Trading - What else can you trade at FPMarkets?

If you are interested in trading options other than cryptocurrencies, you will be relieved to know that FPMarkets has it all. Many brokers offer a large range of instruments to attract the widest variety of customers possible. Our FPMarkets review takes a look at all departments of their service and ranks it according to the numerous other brokers on the market. Depending on your investment portfolio, you will ideally want to vary trading options to a certain degree. It is still highly recommended that traders stick to what they know and trade predominantly in their area of interest.

The FPMarkets review South Africa found that they offer over 70 currency pairs in their forex trading service. There are over 10,000 stock options with share CFDs available. The majority of commodities that are traded are also available at FPMarkets. Alongside these options, there are also 19 major global indices that can be traded by any customers signed up and verified for their service. There are a number of leverage options available, and these will be specific to the trading option of your choice. To get an idea of the trading options available at other brokers, head to our eToro review 2024.

FP-Markets
3.8/5
FP-Markets Crypto
T&Cs apply, 21+
Go to FP-Markets
FP-Markets Highlights
  • Low trading fees across the site
  • Fast trade execution on crypto
  • No price manipulations

Overall Conclusion - A world-class service from FPMarkets

Our FPMarkets review 2024 will have provided you with all the information necessary to get a headstart with the online broker. They have cryptocurrency trading options and while they are limited, the quality of the trading platform will make the entire process a whole lot easier for interested traders. There are a number of other trading options available for customers not looking to enter the crypto market. Their service is legal within South Africa and there were only limits associated with the minimum deposit amount.

The FPMarkets service is world-class and our review could not fault their customer service, fees, payment methods, webpage design and security, licensing and sign up procedure. You will not be disappointed with the service that is on offer at FPMarkets and it is recommended all readers browse the terms and conditions to ensure they qualify for the service. Head to our XTB crypto trading page for a look at another reputable online broker.

FP-Markets
3.8/5
Rating
Go to FP-Markets
Highlights
  • Low trading fees across the site
  • Fast trade execution on crypto
  • No price manipulations

User Reviews for FP-Markets

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Crypto
FP-Markets
Favicon
3.8/5
  • Low trading fees across the site
  • Fast trade execution on crypto
  • No price manipulations
Go to FP-Markets
T&Cs apply, 21+
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