Looking for a reliable broker to start live and grazed on FP Markets recently, their spreads and commission costs seem to be lower when compared with other similar brokers. Are they a true ECN broker? Can they be relied upon to trade with?
If you want true ECN brokers, I would suggest you to go for Interactive Brokers. As much as I disagree with many of their practices, they are still the best ECN brokers for forex trading. One thing you need to remember though, there is no true ECN brokers out there for forex or even stock/options trading. You are always trading directly against market makers especially in forex trading and you will always be subject to market manipulations by the market makers. Hell, in forex trading, even the brokers themselves are subject to market manipulations by the liquidity providers, the ultimate market makers in retail forex.
This is the third thread I have seen tonight constantly mentioning FP Markets. Over and over in responses by low-count members. Something is awry.
I just checked their website and they seem to be offering decent conditions so you can make a choice after getting to know about them fully. However, if you are open to recommendations, I think fxview, icmarkets and tickmill also got low spreads and commissions. Just a suggestion.
From my trading experience, I will say it is a good broker. I have been trading with them for over a year and so far have never come across any major issues like servers freezing or withdrawal issues.
Yes, FP Markets is a good, reliable broker with regulation from ASIC and CYSEC. Their customer service is also good and quick in answering clients' queries, even through emails or live chats.
FP markets is a good one, some other low spreads and commission brokers worth considering are paxforex, turnkeyforex and lmfx.
I've been trading with it for over ten months now and have not faced any major issues. The trading conditions are robust, with smooth withdrawals and deposits.
I currently use their demo account and will be live trading with their raw account. So far, the experience of demo trading has been useful. They also offer free video tutorials, e-books, and other educational materials for newbies venturing into forex for the first time.
I have just started trading with FP Markets for about three months and the experience has been good so far without any issues, even during deposits or withdrawals. The customer support is prompt in answering clients' queries, even when I tried to reach them through email and live chat.