FP Markets Review
Overall, FP Markets is a reliable multi-regulated broker with no-commission trading and tight spreads. It has over 50 000 active Rwandan traders and has a verified trust score of 81% out of 100. FP Markets is considered a trustworthy and reliable broker.
- Louis Schoeman
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Trading Platforms
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.9/5
Min Deposit
100 USD/101 652 RWF
Regulators
ASIC, CySEC, FSCA, CMA
Trading Desk
MetaTrader 4, MetaTrader 5
Crypto
Yes
Total Pairs
63
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
FP Markets Review – 23 key points quick overview:
- ✅ FP Markets Overview
- ✅ FP Markets at a Glance
- ✅ FP Markets Regulation and Safety of Funds
- FP Markets Awards and Recognition
- FP Markets Account Types and Features
- How to open an Account with FP Markets in Rwanda
- FP Markets Vs NAGA Vs Tifia – Broker Comparison
- FP Markets Trading Platforms
- FP Markets Range of Markets
- Broker Comparison for Range of Markets
- FP Markets Trading and Non-Trading Fees
- FP Markets Deposits and Withdrawals
- How to Deposit Funds with FP Markets
- FP Markets Fund Withdrawal Process
- FP Markets Education and Research
- FP Markets Bonuses and Promotions
- How to open an Affiliate Account with FP Markets
- FP Markets Affiliate Program Features
- FP Markets Customer Support
- FP Markets Corporate Social Responsibility
- Our Verdict on FP Markets
- FP Markets Pros and Cons
- FAQ
FP Markets Overview
👉 Overall, FP Markets is considered low-risk, with an overall Trust Score of 82 out of 100. FP Markets is licensed by one Tier-1 Regulator (high trust), one Tier-2 Regulator (average trust), and zero Tier-3 Regulators (low trust). FP Markets offers four different retail trading accounts namely an MT4/5 Standard Account, MT4/5 Raw Account, MT4/5 Islamic Standard Account, and a MT 4/5 Islamic Raw Account.
👉 FP Markets accepts Rwandan clients and has an average spread from 0.0 pips with US$6 commission round turn ($3 per side). FP Markets has a maximum leverage ratio up to 1:500 and there is a demo and Islamic account available. MT4, MT5, Myfxbook, FP Markets platforms are supported. FP Markets is headquartered in Australia and is regulated by ASIC, CySEC and the CMA.
👉 FP Markets (Pty) Ltd is a Financial Services Provider authorized and regulated by the Financial Sector Conduct Authority in South Africa (FSP Number 50926).
👉 Traders and investors are now able to trade the Mexican Peso (MXN), Brazilian Real (BRL) and South African Rand (ZAR) against the US Dollar through the MT4 & MT5 Trading Platforms. The additional offering increases the total number of currency pairs available to trade at FP Markets to more than 70 currency pairs.
👉 First Prudential Markets is a trading and multi-asset brokering online financial service company. In the worldwide trading community, it is known as “FP Markets.” Over the years, FP Markets has built a solid name for itself as a provider of financial trading platforms and multi-asset broker services.
👉 First Prudential Markets Pty Ltd, was established in 2005. To provide customers with a distinctive trading experience, the FP Markets brand includes many different businesses.
👉 These organizations permit the trading of a wide range of financial products. Regulatory constraints hamper certain of FP Markets’ offerings, but the overall service that FP Markets offers is comprehensive and suited to all types of traders.
👉 There is a vast selection of assets to trade and Forex currency pairs are the most often traded assets on FP Markets, out of the platform’s more than 10,000 products. This FP Markets review for Rwanda will provide local retail traders with the details that they need to consider whether FP Markets is suited to their unique trading objectives and needs.
FP Markets Distribution of Traders
👉 FP Markets currently has the largest market share in these countries:
➡️ Italy – 12.2%
➡️ Australia – 10.3%
➡️ India – 7.7%
➡️ Bahamas – 6.5%
➡️ United Kingdom – 6.1%
Popularity among traders who choose FP Markets
🥇 FP Markets does not have a dominant position in the Rwandan forex market, nevertheless it is considered one of the top 20 forex brokers for Rwandan investors.
FP Markets at a Glance
| 🏙 Headquartered | Australia |
| 🏛 Global Offices | Australia and Cyprus |
| 💻 Local Market Regulator in Rwanda | The National Bank of Rwanda (BNR) |
| 💸 Foreign Direct Investment in Rwanda | 99.92 USD Million in 2020 |
| 🔄 Foreign Exchange Reserves in Rwanda | 1,806 million US dollars in 2020 |
| 🏛 Local office in Kigali? | No |
| 👨⚖️ Governor of SEC in Rwanda | None, John Rwangombwa is the Governor of the National Bank of Rwanda |
| ✔️ Accepts Rwandan Traders? | Yes |
| 🗓 Year Founded | 2005 |
| ☎️ Rwandan Traders Office Contact Number | None |
| 📲 Social Media Platforms | • Facebook • YouTube • Telegram |
| ⚖️ Regulation | ASIC, CySEC, FSCA |
| 1️⃣ Tier-1 Licenses | • Australian Securities and Investments Commission (ASIC) |
| 2️⃣ Tier-2 Licenses | • CCyprus Securities and Exchange Commission (CySEC) |
| 3️⃣ Tier-3 Licenses | None |
| 🪪 License Number | • Australia – ABN 16112600281 • Cyprus – 371/18 |
| ⚖️ BNR Regulation | None |
| 🏛 Regional Restrictions | United States, Japan, New Zealand |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 4 |
| ✔️ PAMM Accounts | Yes |
| 💵 Liquidity Providers | Barclays, BNP Paribas, Commerzbank, Credit Suisse, Goldman Sachs |
| 💰 Affiliate Program | Yes |
| ➡️ Order Execution | Market |
| 📊 Starting spread | 0.0 pips |
| 💸 Minimum Commission per Trade | US$3 per side |
| 💵 Decimal Pricing | 5th decimal pricing after the comma |
| 📞 Margin Call | 100% |
| 🛑 Stop-Out | 50% |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | 50 lots |
| 💰 Crypto trading offered? | Yes |
| ✔️ Offers an RWF Account? | No |
| 👥 Dedicated Rwandan Traders Account Manager? | No |
| 📊 Maximum Leverage | 1:500 |
| 📈 Leverage Restrictions for Rwanda? | No |
| 💵 Minimum Deposit (RWF) | 71,000 RWF or an equivalent to AU$100 |
| ✔️ Rwandan franc Deposits Allowed? | Yes |
| 📊 Active Rwandan Traders Trader Stats | 50,000+ |
| 👥 Active Rwandan Traders-based FP Markets customers | Unknown |
| 🔄 Rwanda Daily Forex Turnover | Unknown, the overall trading volume of over $6.6 trillion |
| 💰 Deposit and Withdrawal Options | SticPay, PerfectMoney, DragonPay, Rupee, Pagsmile, Rapyd, Rapid, XPay, Finrax, LetKnowPay, LuqaPay, PayRetailers, ApplePay, GooglePay, VirtualPay |
| 📉 Minimum Withdrawal Time | Instant |
| 📈 Maximum Estimated Withdrawal Time | Up to 5 working days |
| 💰 Instant Deposits and Instant Withdrawals? | Yes, Sticpay wallet withdrawals |
| 🤝 Segregated Accounts with Rwandan Traders Banks? | No |
| 💻 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • Myfxbook AutoTrade • FP Markets App |
| 💵 Tradable Assets | • Forex • Shares • Metals • Commodities • Indices • Cryptocurrencies • Bonds • ETFs |
| 💸 Offers USD/RWF currency pair? | No |
| 📊 USD/RWF Average Spread | N/A |
| ✅ Offers Rwandan Traders Stocks and CFDs | No |
| 📖 Languages supported on the Website | English, Arabic, German, Portuguese, Vietnamese, Indonesian, French, Malay, Italian, Russian |
| 📘 Customer Support Languages | Multilingual |
| 🗣 Copy Trading Support | Yes |
| ⏰ Customer Service Hours | 24/7 |
| 📞 Rwandan Traders-based customer support? | No |
| 💰 Bonuses and Promotions for Rwandan Traders | None |
| 📚 Education for Rwanda beginner traders | Yes |
| 📱 Proprietary trading software | Yes |
| 🏅 Most Successful Rwandan Trader | Unknown |
| ✔️ Is FP Markets a safe broker for Rwandan Traders? | Yes |
| 🎖 Rating for FP Markets Rwanda | 9/10 |
| 🥇 Trust score for FP Markets Rwanda | 81% |
| 👉 Open An Account | 👉 Open Account |
FP Markets Regulation and Safety of Funds
FP Markets Regulation in Rwanda
👉 While well-regulated by international regulators, FP Markets does not have regulations with local market regulators in Rwanda.
FP Markets Global Regulations
👉 First Prudential Markets Pty Ltd is the company that owns and operates FP Markets, which was established in 2005 and has its headquarters in Australia.
👉 The Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission both have authority over FP Markets. Rwandan traders may find information on registered firms in the table below:
➡️ First Prudential Markets Pty Ltd is a company licensed and regulated by the Australian Securities and Investments Commission (ASIC), with AFSL Licence 286354.
➡️ First Prudential Markets Pty Ltd is a company registered and regulated by the Cyprus Securities and Exchange Commission (CySEC), under license number 371/18.
FP Markets Client Fund Security and Safety Features
👉 Clients of FP Markets in Rwanda can open a trading account with the CySEC entity. Clients must depend exclusively on FP Markets’ reputation since no further safeguards exist to protect them.
👉 However, as a gesture of good faith, FP Markets holds all money from the company’s operational capital in AA-rated Australian banks and provides negative balance protection to all its customers.
👉 Furthermore, since FP Markets is not regulated by Rwanda’s National Bank, Rwandan traders are not immediately covered by any local investor protection programmes.
👉 While Rwandans may be concerned about trading via an uncontrolled subsidiary, FP Markets subsidiaries in Australia and Europe are regulated by ASIC and CySEC, respectively, which are both reputable agencies with Tier-1 and Tier-2 regulation.
👉 FP Markets also provides its customers with account statements that are routinely examined by reputable audit companies.
FP Markets Awards and Recognition
👉 FP Markets Awards: Best Global Forex Value Broker, Best Forex Broker Australia, Outstanding Value CFD Provider, Best Forex Partners Programme in Asia, Best Education Material, Most Satisfied Traders
FP Markets Account Types and Features
👉 There are several account types available at FP Markets and the most prevalent account types are Standard and Raw, each with its own set of features and associated fees.
👉 All Rwandan traders must be aware that their base currency influences the per-lot cost. In addition, the Standard account has a broader spread than other account types for trading currencies and metals.
👉 Aside from this distinction, the Standard and Raw accounts share many characteristics.
👉 All account types have the same minimum deposit requirements and have access to the same leverage choices, but the Standard Account offers broader access to financial markets.
👉 The following are the accessible live accounts with FP Markets:
➡️ MT4/5 Standard Account
➡️ MT4/5 Raw Account
➡️ MT4/5 Islamic Standard Account
➡️ MT4/5 Islamic Raw Account
FP Markets Live Trading Accounts
MT4/5 Standard Account
👉 This MT4/5 Standard account is designed for Rwandan traders seeking easy, cost-effective trading conditions and commission-free access to a variety of tradable marketplaces.
| Account Features | Value |
| 💰 Minimum Deposit Requirement | 71,000 RWF or an equivalent to AU$100 |
| 📊 Average spread | Variable, from 1 pip |
| 💸 Instruments Available | 60+ Forex pairs, metals, indices, commodities |
| 📈 Maximum Leverage Ratio | 1:500 |
| ⬆️ Execution Type | ECN |
| 💵 Commissions | None |
| ✔️ Expert Advisors Offered? | Yes |
| 📱 Mobile App Offered? | Yes |
| ✅ VPS Available? | Yes |
MT4/5 Raw Account
👉 Rwandan traders may register for this Raw Account using either MetaTrader 4 or MetaTrader 5. This enables traders to take advantage of rapid trade execution speeds, competitive spreads beginning at 0 pips, and access to a variety of trading tools that may assist them in making educated trading choices.
| Account Features | Value |
| 💰 Minimum Deposit Requirement | 71,000 RWF or an equivalent to AU$100 |
| 📊 Average spread | Variable, from 0.0 pips |
| 💸 Instruments Available | 60+ Forex pairs, metals, indices, commodities |
| 📈 Maximum Leverage Ratio | 1:500 |
| ⬆️ Execution Type | ECN |
| 💵 Commissions | US$3 per side |
| ✔️ Expert Advisors Offered? | Yes |
| 📱 Mobile App Offered? | Yes |
| ✅ VPS Available? | Yes |
MT4/5 Islamic Standard Account
👉 This is the most fundamental sort of account available to Muslim traders in Rwanda who want to avoid overnight fees and other forms of interest. This commission-free account type provides broader spreads to offset FP Markets’ transaction fees.
| Account Features | Value |
| 💰 Minimum Deposit Requirement | 71,000 RWF or an equivalent to AU$100 |
| 📊 Average spread | Variable, from 1 pip |
| 💸 Instruments Available | 60+ Forex pairs, metals, indices, commodities |
| 📈 Maximum Leverage Ratio | 1:500 |
| ⬆️ Execution Type | ECN |
| 💵 Commissions | None |
| ✔️ Expert Advisors Offered? | Yes |
| 📱 Mobile App Offered? | Yes |
| ✅ VPS Available? | Yes |
MT4/5 Islamic Raw Account
👉 This Islamic Raw Account is designed for Muslim traders who use day trading, scalping, and high-frequency trading tactics and who want the best pricing, ECN execution, and other trading tools to improve their trading in competitive financial markets.
| Account Features | Value |
| 💰 Minimum Deposit Requirement | 71,000 RWF or an equivalent to AU$100 |
| 📊 Average spread | Variable, from 0.0 pips |
| 💸 Instruments Available | 60+ Forex pairs, metals, indices, commodities |
| 📈 Maximum Leverage Ratio | 1:500 |
| ⬆️ Execution Type | ECN |
| 💵 Commissions | US$3 per side |
| ✔️ Expert Advisors Offered? | Yes |
| 📱 Mobile App Offered? | Yes |
| ✅ VPS Available? | Yes |
FP Markets Base Account Currencies
👉 FP Markets provides numerous base account currency alternatives. However, the Rwandan Franc is not one of them, which means Rwandans may be subject to currency conversion costs.
FP Markets Demo Account
👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital.
👉 There is a certain degree of risk involved when trading financial markets and FP Markets offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.
👉 FP Markets provides an unlimited risk-free trial account that can be utilized with the Standard or Raw Account types on MetaTrader 4 and MetaTrader 5. Once Rwandan traders have created a trial account, they are free to use it anyway they see appropriate, including for trading practice and testing trading methods.
👉 Rwandan traders must note that the account is limitless if it is in operation but will be cancelled if it is inactive for 30 days.
FP Markets Islamic Account
👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.
👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.
👉 Standard and raw Islamic Accounts are available to Muslim Rwandan traders who choose to utilize them. Subsequently, Islamic investors may take advantage of the favourable trading conditions and incentives provided by these accounts.
👉 Administrator costs are determined per lot in USD and are charged to traders who choose to use the Islamic accounts. Among the charges are the following:
| 🔨 Instrument | 💵 Admin Fee Charged |
| AUS200, CHINA50, FRA40, GER30, HK50, JP225, US100, EURO50, UK100 | $1 |
| AUD/USD, EUR/USD, GBP/USD, USD/CAD, USD/CHF, USD/JPY, NZD/USD, XAG/USD, XAU/USD | $5 |
| AUD/NZD, US500, LTC/USD, XRP/USD | $2 |
| US30, EUR/SEK, USD/SGD | $3 |
| AUD/SGD, CAD/JPY, EUR/CHF, EUR/JPY, GBP/CAD, NZD/SGD | $4 |
| AUD/CAD, CAD/CHF, CHF/JPY, EUR/DKK, EUR/GBP, NZD/CAD, USD/THB, XAG/AUD, USD/CZK | $5 |
| BTC/USD, GBP/JPY, GBP/SEK, XAU/AUD, XPT/USD | $6 |
| AUD/JPY, EUR/CAD, GBP/CHF, NZD/JPY | $7 |
| AUD/CHF, EUR/SGD, GBP/AUD, GBP/PLN, NZD/CHF, USD/CNH, USD/PLN, USD/SEK | $8 |
| CHF/SGD, EUR/AUD, EUR/NOK, EUR/NZD, EUR/PLN, GBP/DKK, GBP/SGD, GBP/NZD, USD/DKK, USD/NOK, XTI/USD, EUR/HUF, USD/HUF, EUR/CZK | $10 |
| EUR/ZAR, USD/MXN, USD/ZAR, XBR/USD, XTI/USD, XPD/USD | $20 |
| EUR/MXN, GBP/MXN, USD/RUB | $30 |
| EUR/TRY, GBP/TRY, USD/TRY | $70 |
| XNG/USD | $80 |
How to open an Account with FP Markets in Rwanda
👉 The procedure of creating a new account on the online trading platform of FP Markets FX is simple. The procedures take place on the company’s official website, and the process is entirely digital for expedient account openings.
👉 The average time required to establish a new trading account with FP Markets is 15 minutes. Because of the online Know Your Customer (KYC) and verification procedure, new accounts are accepted within twenty-four hours after registration.
👉 To register an account with FP Markets, Rwandan Traders can follow these steps:
➡️ Go to the official website of FP Markets and click on the “Register a New Account” link in the main menu or on the homepage to begin the registration process.
➡️ Provide some personal information such as your email address, first and last name, country of origin, and telephone number.
➡️ Provide further information about your nationality, tax status, employment, and financial situation.
➡️ Select your account type, trading platform, and base currency from the drop-down menu.
➡️ Take a quick quiz to demonstrate your understanding of financial products.
➡️ You must provide evidence of your identification and residence address as part of the Know Your Customer (KYC) procedure for your account to be approved.
FP Markets Vs NAGA Vs Tifia – Broker Comparison
| 🥇 FP Markets | 🥈 NAGA | 🥉 Tifia | |
| ⚖️ Regulation | ASIC, CySEC | CySEC, BaFin | VFSC, FSC |
| 💻 Trading Platform | • MetaTrader 4 • MetaTrader 5 • Myfxbook AutoTrade • FP Markets App | • NAGA Trading Platform • MetaTrader 4 • MetaTrader 5 | • MetaTrader 4 • MetaTrader 5 • Tifia Forex Analysis App |
| 💵 Withdrawal Fee | Yes | Yes | Yes |
| ✔️ Demo Account | Yes | Yes | Yes |
| 💰 Min Deposit | 71,000 RWF | 250,000 RWF | 10,000 RWF |
| 📊 Leverage | 1:500 | 1:1000 | 1:1000 |
| 📈 Spread | 0.0 pips | 0.7 pips | From 0.0 pips |
| 💸 Commissions | From US$3 | None | $8 |
| 🛑 Margin Call/Stop-Out | 100%/50% | 100%/50% | 100% |
| 📲 Order Execution | Market | Market | 50% |
| ✔️ No-Deposit Bonus | No | No | Yes |
| ✅ Cent Accounts | No | No | Yes |
| 💻 Account Types | • MT4/5 Standard Account • MT4/5 Raw Account • MT4/5 Islamic • Standard Account • MT4/5 Islamic Raw Account | • Iron Account • Bronze Account • Silver Account • Gold Account • Diamond Account • Crystal Account | • A Start Account (Micro) • ECN Classic Account • ECN Pro Account |
| ⚖️ BNR Regulation | No | Yes | No |
| 💵 RWF Deposits | Yes | Yes | Yes |
| ✔️ Rwandan franc Account | No | No | Yes |
| 📞 Customer Service Hours | 24/7 | 24/5 | 24/5 |
| 🛍 Retail Investor Accounts | 4 | 6 | 3 |
| ☪️ Islamic Account | Yes | Yes | Yes |
| 📉 Minimum Trade Size | 0.01 pips | 0.01 lots | 0.01 lots |
| 📈 Maximum Trade Size | 50 lots | 10,000 lots | 100 lots |
| 📊 Minimum Withdrawal Time | Instant | Instant | Instant |
| ⏱ Maximum Estimated Withdrawal Time | Up to 5 working days | Up to 5 working days | Between 2 to 5 working days |
| ✔️ Instant Deposits and Instant Withdrawals? | Yes, Sticpay wallet withdrawals | Yes | Yes |
Overall Rating
- 4.9/5
Min Deposit
100 USD/101 652 RWF
Regulators
ASIC, CySEC, FSCA, CMA
Trading Desk
MetaTrader 4, MetaTrader 5
Crypto
Yes
Total Pairs
63
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
FP Markets Trading Platforms
👉 To trade with FP Markets, you must use one of the broker’s supported trading platforms. With FP Markets, you can easily g et the most up-to-date news and statistics as well as the ability to start or cancel positions right away. Additionally, you will get access to AutoChartist, which will send you trade alerts through email and push notifications on your mobile device.
👉 The use of Expert Advisors (EAs) and other copy trading options may help you execute trades more effectively, while also allowing you to learn from the activities of more experienced traders.
👉 Their VPS service allows you to run your plan in real-time without having to be in front of a computer, therefore you do not even need a computer at all. There is a minimum monthly trading volume limitation, however, it is free to use. These trading platforms are available to Rwandan traders:
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ Myfxbook AutoTrade
➡️ FP Markets App
Desktop Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
MetaTrader 4 and 5
👉 MetaTrader 4 and MetaTrader 5 are available to traders via FP Markets, which they may install on any Windows, Linux, or Macintosh computer. Trading on MetaTrader 4 and MetaTrader 5 is made easier by a wealth of functions and features that are available to traders to aid them in their trading activities.
WebTrader Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ Myfxbook AutoTrade
MetaTrader 4 and 5
👉 FP Markets also provides access to the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) online trading platforms (MT5). MetaTrader platforms are the preferred choice for traders who want to find the underlying sentiment and overall trends of the market quickly. They are easy to use and have a plethora of technical indications on them.
👉 Expert advisors (EAs) are also available on the platforms, as is a large online community of traders who share MetaTrader tools with one another. Developers may construct their own trading programs with the help of the built-in MetaEditor.
Myfxbook AutoTrade
👉 Myfxbook AutoTrade offers the greatest exchange transaction mirroring service available. Rwandan FP Markets traders may easily use sophisticated copy trading strategies to replicate successful traders using this platform and accompanying service.
👉 Users of FP Markets’ MetaTrader 4 (MT4) live accounts may make use of the AutoTrade option to examine past trading performance and reproduce them in their accounts. When used in conjunction with MetaTrader 4, AutoTrade may be an excellent tool for scalping.
Trading App
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ FP Markets App
MetaTrader 4 and 5
👉 MetaTrader 4 and 5 are compatible with any Android or iOS mobile device that has a reliable Internet connection and has a verified broker account, including tablets and smartphones.
👉 In addition to a variety of trading accounts that may be used in combination with either MT4 or MT5, Rwandan traders can take use of FP Markets’ comprehensive range of trading products and services.
FP Markets App
👉 The FP Markets mobile app is a great choice if you are looking for a simple way to transact. Android and iOS devices may download the FP Markets Mobile App. The app was easy to download and use, which earned it a high rating in this area.
👉 Even though the FP Markets App is less sophisticated than the MetaTrader desktop platform, it is an excellent tool for keeping track of quotes on the go, starting positions and placing fresh trades.
FP Markets Range of Markets
👉 Rwandan Traders can expect the following range of markets from FP Markets:
➡️ Forex
➡️ Shares
➡️ Metals
➡️ Commodities
➡️ Indices
➡️ Cryptocurrencies
➡️ Bonds
Financial Instruments and Leverage offered by FP Markets
| 🔨 Instrument | ✔️ Number of Assets Offered | 📈 Maximum Leverage Offered |
| ➡️ Forex | 60 | 1:500 |
| ➡️ Precious Metals | 3 | 1:500 |
| ➡️ Indices | 17 | 1:500 |
| ➡️ Stocks | • DMA: 10,000+ • MetaTrader: 1,000+ | 1:20 |
| ➡️ Cryptocurrency | 11 | 1:5 |
| ➡️ Energies | 4 | 1:200 |
| ➡️ Bonds | 2 | – |
| ➡️ Agricultural Commodities | 5 | 1:200 |
Broker Comparison for Range of Markets
| 🥇 FP Markets | 🥈 NAGA | 🥉 Tifia | |
| ➡️️ Forex | Yes | Yes | Yes |
| ➡️️ Precious Metals | Yes | Yes | Yes |
| ➡️️ ETFs | No | Yes | No |
| ➡️️ CFDs | Yes | Yes | Yes |
| ➡️️ Indices | Yes | Yes | Yes |
| ➡️️ Stocks | Yes | Yes | Yes |
| ➡️️ Cryptocurrency | Yes | Yes | No |
| ➡️️ Options | No | No | No |
| ➡️️ Energies | Yes | Yes | Yes |
| ➡️️ Bonds | No | No | No |
FP Markets Trading and Non-Trading Fees
Spreads
👉 FP Markets’ spreads change according on the kind of account and the type of financial instrument used to make the order. When employing variable spreads, spreads might rise or fall during the trading day based on a variety of factors including general market circumstances.
👉 Spreads may expand or shrink based on a variety of market situations and fundamentals. FP Markets typically offers the following spreads:
➡️ 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
| 🔨 Instrument | 📊 Standard Spreads | 📈 Raw ECN Spreads |
| AUD/USD | 1.4 pips | 0.0 pips |
| GBP/USD | 1.5 pips | 0.0 pips |
| XAG/USD | 0.02 pips | 0.0 pips |
| XAU/USD | 0.31 pips | 0.0 pips |
| Bonds | From 0.43 pips | – |
| Energies | From 0.024 pips | – |
| Soft Commodities | From 0.63 pips | – |
| US Tech 100 | 1.5 pips | – |
| VIX | 0.1 pips | – |
| BTC/USD | 9.13 pips | – |
Commissions
👉 To compensate FP Markets for facilitating the deal, commissions are applied to zero-spread accounts as follows:
➡️ MT4/5 Raw Account – US$3 per side
➡️ MT4/5 Islamic Raw Account – US$3 per side
Overnight Fees, Rollovers, or Swaps
👉 A good measure of transparency is apparent in the way that the FP Markets website publishes all overnight fees and rates for each product. Current bank interest rates, plus a little markup, are used by FP Markets to compute exchange costs.
👉 By using the time stamp of its trading platforms, FP Markets can introduce overnight fees at midnight. Depending on the interest rate difference between the two currencies, overnight fees may be negative or positive for trades that have been open for more than 24 hours.
👉 Rwandan traders who trade through FP Markets can expect the following overnight fees:
➡️ EUR/USD – a long swap of -5.50 and a short swap of 0.38
➡️ BTC/USD – a long swap of -20.00 and a short swap of -20.00
➡️ US100 – a long swap of -1.07 and a short swap of -0.94
➡️ XAG/USD – a long swap of -1.36 and a short swap of -0.78
➡️ XAU/USD – a long of -4.88 and a short swap of -1.82
Deposit and Withdrawal Fees
👉 Regardless of the payment method, Rwandan traders pay no costs while funding their trading accounts. For withdrawals, however, traders in Rwanda should anticipate the following fees:
➡️ International Bank Wire other than AUD – 10 AUD
➡️ 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%
➡️ Asian, African, and Latam Payments – 2%
➡️ Cryptocurrency Payments – Blockchain fees
➡️ MPSA – 7.25%
➡️ FairPay – 0.5% plus an additional flat fee of 10 USD
➡️ Paylivre – 1.5%
➡️ Finrax – Blockchain fees
➡️ Sticpay – 5% for bank wire and 2.5% for wallet fees
➡️ Thai Pay – 0.5%
➡️ Virtual Pay – 2%
➡️ XPAY – 1.5%
Inactivity Fees
👉 FP Markets does not apply an inactivity fee to dormant accounts.
Currency Conversion Fees
👉 Deposits made by Rwandan traders in a currency other than their base account currency may be subject to currency conversion costs.
FP Markets Deposits and Withdrawals
👉 Rwandan traders can choose from these deposit methods to fund the trading account:
➡️ Debit Card
➡️ Bank Transfer
➡️ Neteller
➡️ Skrill
➡️ PayTrust
➡️ Sticpay
➡️ Fasapay
➡️ Virtual Pay
➡️ Rupee Payments
➡️ Dragonpay
➡️ Perfect Money
➡️ Asian, African and Latam Payments
➡️ Paylivre
➡️ Cryptocurrency (LetKnowPay)
➡️ Rapyd Bank Transfer
➡️ Rapid Transfer
➡️ Finrax
➡️ MPSA
➡️ Nganluong
➡️ XPAY
➡️ Broker to Broker
👉 When withdrawing funds from a trading account, Rwandan traders can choose from these methods:
➡️ Debit Card
➡️ Credit Card
➡️ Domestic Bank Wire
➡️ International Bank Wire
➡️ Neteller
➡️ Skrill
➡️ Fasapay
➡️ PayTrust
➡️ Dragonpay
➡️ Perfect Money
➡️ Cryptocurrency
➡️ MPSA
➡️ FairPay
➡️ Paylivre
➡️ Finrax
➡️ Sticpay
➡️ Rupee Payments
➡️ Rapid
➡️ Virtual Pay
➡️ XPAY
Broker Comparison: Deposit and Withdrawals
| 🥇 FP Markets | 🥈 NAGA | 🥉 Tifia | |
| Minimum Withdrawal Time | Instant | Instant | Instant |
| Maximum Estimated Withdrawal Time | Up to 5 working days | Up to 5 working days | Between 2 to 5 working days |
| Instant Deposits and Instant Withdrawals? | Yes, Sticpay wallet withdrawals | Yes | Yes |
FP Markets Deposit Currencies, Deposit and Withdrawal Processing Times
| 💰 Payment Method | 💵 Deposit Currencies | 💸 Deposit Processing | 💰 Withdrawal Processing |
| Credit Card | AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD, CZK, PLN, AED | Instant | 1 business day |
| Debit Card | AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD, CZK, PLN, AED | Instant | 1 business day |
| Bank Transfer | AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD, CZK, PLN, AED | 1 business day | – |
| Neteller | AUD, USD, EUR, GBP, SGD, HKD | Instant | 1 business day |
| Skrill | AUD, CAD, CHF, EUR, GBP, JPY, INR, BRL, SGD, USD | Instant | 1 business day |
| PayTrust | AUD, CAD, EUR, GBP, INR, USD, BRL | Instant | 1 business day |
| Perfect Money | MYR, IDR, VND | Instant | 1 business day |
| Sticpay | JPY, EUR, GBP, USD, HKD, TWD, KRW, SGD | Instant | Wallet: Instant Bank Wire: 1 – 2 days |
| Fasapay | USD, IDR | Instant | 1 business day |
| Virtual Pay | KES, UGX, TSH | Instant | 1 – 2 business days |
| Rupee Payments | INR | Instant | 1 business day |
| Dragonpay | PHP, AUD, CAD, CHF, EUR, GBP, HKD, SGD, USD | Instant | 1 business day |
| Perfect Money | USD | Instant | 1 business day |
| Asian, African and Latam Payments | USD, GBP, EUR, African and Asian Currencies | Instant | 1 – 2 business days |
| Paylivre | BRL, USD | Instant | 1 business day |
| Cryptocurrency (LetKnowPay) | ADA, BCH, BTC, DASH, ETH, LTC, PAX, XRP, TUSD, USDC, USDT (ERC20), USDT (TRC20), ZEC | 1 business day | 1 – 2 business days |
| Rapyd Bank Transfer | BRL, MXN, COP, CLP | Instant | 1 business day |
| Rapid Transfer | EUR, DKK, SEK, HUF, GBP, PLN, NOK | Instant | 1 – 2 business days |
| Finrax | BTC, ETH, LTC, XRP, BAT, BNT, CVC, ENJ, FUN, LINK, MITH, MTL, OMG, REP, XLM, BCH, USDT | Instant | 1 business day |
| MPSA | INR | Instant | 1 business day |
| Nganluong | VND | Instant | 1 business day |
| XPAY | IDR, MYR, THB, VND | Instant | 1 – 2 business days |
| Broker to Broker | AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD | 1 business day | – |
| Domestic Bank Wire | AUD | – | 1 business day |
| International Bank Wire | All except AUD | – | 1 business day |
| MPSA | INR | Instant | 1 – 2 business days |
| FairPay | BRL, CLP, COP, CRC, GTQ, MXN, PEN, USD | – | 1 – 2 business days |
How to Deposit Funds with FP Markets
👉 To deposit funds to an account with FP Markets, Rwandan Traders can follow these steps:
➡️ Funding may be done in the safe Client Area by selecting the option on the left side of the screen.
➡️ Click “Deposit” to deposit funds into the retail trading account you have selected.
➡️ To make a deposit, you must first pick a payment option, then enter the desired deposit amount, and finally, select a currency for the deposit.
➡️ Finally, you can complete any further procedures requested by the payment provider you choose.
FP Markets Fund Withdrawal Process
👉 To withdraw funds from an account with FP Markets, Rwandan Traders can follow these steps:
➡️ Make sure the trading account has enough capital to make a withdrawal.
➡️ Then pick “Withdraw” from the left-hand panel of the Client Area.
➡️ To expedite the process, Rwandan traders are urged to use the same deposit method that was used to make the initial investment.
FP Markets Education and Research
Education
👉 With the help of FP Markets, new and seasoned traders alike may benefit from a comprehensive, well-structured, and in-depth teaching section. Beginners seeking a reputable ECN and STP broker with solid regulation can consider FP Markets.
👉 FP Markets offers the following Educational Materials:
➡️ Several informative publications are available from FP Markets that cover everything from money management to trading techniques to volatility. Technical and fundamental analysis, as well as advice for spotting trading chances, are also covered.
➡️ There are many videos on the FP Markets website that explain the MetaTrader platform to new forex traders. For individuals who are interested in learning how to trade on MT4/MT5, these videos provide a step-by-step guidance.
➡️ The glossary contains extensive definitions and explanations of a wide range of financial concepts, including:
➡️ FP Markets’ in-house expert traders do frequent webinars, which you may join for free. Topics covered in the webinars range from trading psychology to advanced Fibonacci strategies to how to backtest your trading strategy.
➡️ FP Markets Academy
Research and Trading Tool Comparison
| 🥇 FP Markets | 🥈 NAGA | 🥉 Tifia | |
| Economic Calendar | Yes | Yes | Yes |
| VPS | Yes | No | No |
| AutoChartist | Yes | No | No |
| Trading View | No | No | No |
| Trading Central | No | No | Yes |
| Market Analysis | Yes | Yes | Yes |
| News Feed | Yes | Yes | Yes |
| Blog | Yes | Yes | Yes |
👉 FP Markets offers Rwandan Traders the following Research and Trading Tools:
➡️ All financial markets are covered in the Daily Market Report, as well as a Weekly Outlook (in video and text format). Commodities, indices, and foreign exchange rates are all included in the daily market report.
➡️ Information on the most popular financial assets is provided by FP Markets in a variety of periods.
➡️ Weekly Technical Report: A weekly technical report covers the numerous market moves and how they affect the associated financial assets. One might say that the report is thorough and comprehensive.
➡️ This part of Forex News is updated less regularly, but it contains stories on all the most important market happenings.
➡️ Daily, articles are produced on world events and their impact on the markets.
➡️ On a weekly basis, new articles on currency changes are posted at Currency Point.
FP Markets Bonuses and Promotions
👉 FP Markets does not currently offer any bonuses or promotions to Rwandan traders.
How to open an Affiliate Account with FP Markets
👉 To register an Affiliate Account, Rwandan Traders can follow these steps:
➡️ Hover your cursor over “Partners” on the FP Markets website’s homepage.
➡️ Make your selection and then wait for a new page to load.
➡️ Make sure you choose “Affiliate” when you click the red “Join Now” banner.
➡️ Include your first and surname name and a valid email address as well as a mobile phone number where you may be contacted.
➡️ Next, enter a Username and Password that the user has picked for themselves.
➡️ Give specifics on how you plan to promote FP Markets on your website, social media, as a signal provider, Google, or via pay-per-click ads.
➡️ Include links to your social media accounts and your website URLs in your profile.
➡️ Specify whether you are an associate broker and the number of consumers you suggest each month.
➡️ From the available possibilities, choose the total amount you expect to deposit and the length of time you have been an associate (if you are an existing affiliate with other brokers).
➡️ The areas you wish to focus on should be indicated.
➡️ Finally, review and agree the Affiliate Terms & Conditions, then click “Apply Now” to begin the process of becoming an affiliate.
FP Markets Affiliate Program Features
👉 The introduction of new consumers through referring brokers or partners is important to FP Markets, and the company is committed to properly compensating these individuals. Affiliates of FP Markets benefit from the following benefits and services:
➡️ Access to some of the best and newest technology for accurate tracking in real-time
➡️ Access to 24/7 accurate and comprehensive reporting
➡️ Unlimited access to conversion specialists that are provided to partners
➡️ Marketing tools
➡️ Comprehensive payment structures
➡️ A wide range of payment options
➡️ Generous commissions that can be earned
FP Markets Customer Support
👉 FP Markets has a dedicated customer support team that is free to help 24 hours a day, 5 days a week.
| Customer Support | FP Market’s Customer Support |
| ⏰ Operating Hours | 24/5 |
| 🗣 Support Languages | English, Arabic, Indonesian, Vietnamese, Portuguese, Thai, Malay, Japanese |
| 🗯 Live Chat | Yes |
| 📧 Email Address | Yes |
| 📞 Telephonic Support | Yes |
| ✔️ Local Support in Rwanda? | No |
| 🥇 Overall quality of FP Markets Support | 4.2/5 |
FP Markets Corporate Social Responsibility
👉 There is currently no information relating to FP Markets’ CSR initiatives or active projects.
Overall Rating
- 4.9/5
Min Deposit
100 USD/101 652 RWF
Regulators
ASIC, CySEC, FSCA, CMA
Trading Desk
MetaTrader 4, MetaTrader 5
Crypto
Yes
Total Pairs
63
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Our Verdict on FP Markets
👉 Rwandan traders can easily trade forex, CFDs, and a variety of other assets with FP Markets. There are a wide range of financial products offered by FP Markets that cover all aspects of trading. Regulation by the Australian and Cyprus commissions ensures the safety of their customers from fraud and scams.
👉 The spreads supplied by the broker seem to be competitive for various account types, and if you use the FP Markets platform to trade, you will see the exact same spreads that are listed on the website.
👉 Additionally, FP Markets provides its customers with access to a broad choice of trading platforms, all of which are compatible with mobile devices. FP Markets’ primary services include all the broker’s trading platforms and tools.
👉 FP Markets seems to go to great lengths to ensure client satisfaction. FP Markets’ customer service department is always accessible online and is also available via live chat and email on the weekends.
👉 In addition, FP Markets has earned more than 40 industry accolades since its inception. Award categories awarded to FP Markets from Investment Trends include the following:
➡️ Highest Overall Customer Satisfaction 2020
➡️ Best Trade Execution 2020
➡️ Best Customer Service 2020
➡️ Best Educational Material 2020
FP Markets Pros and Cons
| ✔️ Pros | ❌ Cons |
| FP Markets is a trusted and well-regulated forex and CFD broker for Rwandan traders | There are additional fees applied to the Islamic account |
| FP Markets accepts traders of all experience levels despite their trading strategies | Withdrawal fees are charged on several of the payment providers that FP Markets offers |
| There is a choice between the account types that FP Markets offers | |
| Traders have access to unlimited demo accounts if they keep using the account frequently | |
| There are powerful trading platforms to choose from | |
| FP Markets offers advanced trading tools to experienced Rwandan traders | |
| There are a plethora of educational materials and options for beginners | |
| There is no inactivity fee and deposit fees are not charged |
FAQ
What can I trade with FP Markets?
You can trade over 10,000 financial instruments spread across different asset classes such as forex, precious metals, different commodities, shares, bonds, indices, and more.
Is FP Markets good for beginners?
Yes, FP Markets is a good option for beginner traders based on the educational materials offered and dedicated 24/7 customer support.
Does FP Markets have Volatility 75?
Yes, FP Markets is one of the few brokers in the CFD trading industry that offers access to Volatility 75, also referred to as “VIX”. This Index CFD can be accessed through the Standard Account options that FP Markets offers Rwandan traders.
Does FP Markets have Nasdaq?
Yes, FP Markets offers the US Tech 100 or Nasdaq to traders on the Standard Account options.
Is FP Markets regulated?
Yes, FP Markets is regulated and overseen by the Tier-1 market regulator the Australian Securities and Investments Commission (ASIC) and the Tier-2 regulator, the Cyprus Securities and Exchange Commission (CySEC).
Does FP Markets have negative balance protection?
Yes, FP Markets offers negative balance protection on all its retail accounts under CySEC regulation.
How much leverage can I get with FP Markets?
You can use a maximum leverage up to 1:500 when you trade with FP Markets.
Is FP Markets safe or a scam?
FP Markets is a safe broker. There are market commissions that govern and supervise First Prudential Markets Pty Ltd. First Prudential Markets Pty Ltd. is licensed to do business in Oceania since it is based in Australia.
FP Markets complies with all Australian Securities and Investments Commission (ASIC) rules and regulations. Licensed by the Cyprus Securities and Exchange Commission, First Prudential Markets Pty Ltd provides a safe trading environment to traders from around the world, including Rwanda.
FP Markets’ activity is monitored by this regulating authority, which takes appropriate action if any unfair treatment or criminal activity is noticed.
What is the withdrawal time for FP Markets?
The withdrawal time for FP Markets ranges from instant withdrawals on some electronic payment gateways up to five working days on bank transfers.
Conclusion
👉 Now it is your turn to participate:
➡️ Do you have any prior experience with FP Markets?
➡️ What was the determining factor in your decision to engage with FP Markets?
➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?
➡️ Have you experienced any issues with FP Markets such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?
👉 Regardless, please share your thoughts in the comments below.
Addendum/Disclosure:
👉 No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
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