Investing in Cryptocurrencies on FP Markets
FP Markets is a leading online broker that provides access to a range of financial markets, including cryptocurrency trading.
Here’s a breakdown of their cryptocurrency offering:
- Cryptocurrency Trading:
- FP Markets offers cryptocurrency trading in some of the most popular digital currencies, including Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash. Traders can buy or sell these cryptocurrencies with flexible leverage up to 1:5 and tight spreads, with no commission charged on trades. The platform offers access to the top-tier liquidity providers in the industry, ensuring fast trade execution and reliable pricing.
- Trading Platform:
- FP Markets provides traders with two trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms support cryptocurrency trading, with advanced charting and analysis tools, customizable indicators, and automated trading strategies. Traders can also access their accounts via the FP Markets mobile app for Android and iOS devices.
- Account Types:
- FP Markets offers two account types for cryptocurrency trading: Standard and Raw. Standard accounts have no commission but a slightly wider spread, while Raw accounts have tighter spreads but charge a commission. Traders can choose the account type that best suits their trading strategy and preferences.
- FP Markets is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), ensuring a high level of security and transparency for traders. Clients’ funds are held in segregated accounts with top-tier banks, and negative balance protection is provided.
- Education and Support:
- FP Markets offers a range of educational resources to help traders improve their knowledge and skills in cryptocurrency trading, including video tutorials, webinars, and market analysis. Traders can also access dedicated customer support via phone, email, or live chat, 24/5.
What is Cryptocurrency CFD trading?
Cryptocurrency CFD (Contract for Difference) trading is a type of trading that allows traders to speculate on the price movements of cryptocurrencies without actually owning the underlying asset. Instead, traders enter into a contract with a broker that pays the difference between the opening and closing prices of the cryptocurrency.
FP Markets is a broker that offers cryptocurrency CFD trading for a variety of popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash. Traders can open long or short positions, depending on their view of the market, and trade with leverage, which can amplify potential profits but also increase potential losses.
FP Markets provides a user-friendly trading platform that allows traders to access real-time market data and execute trades quickly and easily. They also offer various trading tools and educational resources to help traders make informed trading decisions.
However, it’s important to note that cryptocurrency CFD trading can be highly volatile and risky due to the unpredictable nature of cryptocurrency markets. Traders should carefully consider their risk tolerance and investment goals before trading, and always use risk management strategies such as stop-loss orders to limit potential losses.
Account Types available with FP Markets
See the table below for the comparison of account types offered by FP Markets.
|Account Standard||Account Raw|
|MT4 – MT5||Yes||Yes|
|Minimum Opening Balance||$100 AUD or equivalent||$100 AUD or equivalent|
|Spreads||From 1.0 pips||From 0.0 pips|
|Instruments||70+ Forex pairs, metals, indices, commodities||70+ Forex pairs, metals, indices, commodities|
|Commission per Lot||Zero||USD $3 per side|
|Minimum Trade Size||0.01 Lot||0.01 Lot|
Both Standard Account and Raw Account are compatible with the MT4 and MT5 platforms.
They require a minimum opening balance of $100 AUD or its equivalent. Standard Account offers spreads starting from 1.0 pips, while Raw Account provides spreads from 0.0 pips. Each account type grants access to over 70 Forex pairs, metals, indices, and commodities.
The maximum leverage for both account types is 500:1, and they utilize ECN-Pricing for execution. Standard Account has zero commission per lot, whereas Raw Account charges a commission of USD $3 per side. The minimum trade size for both accounts is 0.01 lot.
Both accounts support Expert Advisors (EA’s) and offer mobile app functionality. Additionally, Virtual Private Server (VPS) hosting is available for both Standard Account and Raw Account.