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FP Markets Review

Overall, FP Markets is considered a safe and trustworthy broker 1 Tier-1 and 1 Tier-2 regulator. FP Markets offers 4 retail accounts and has a high Trust Score of 81% out of 100. FP Markets is currently not regulated by the MFED, BoB, or NBFIRA of Botswana

Updated : October 14, 2022

Jump to:

005 regulations book

Regulation and Safety of Funds

005 feature selection

Account Types and Features

006 add user

Account Registration

003 responsive design

Trading Platforms

002 candlestick

Range of Markets

007 fees

Fees

001 cash withdrawal

Deposits and Withdrawals

003 research

Education and Research

002 affiliate marketing

Affiliate Program

008 auction

Final Verdict

004 review

Pros and Cons

001 question

FAQ

Overall Rating

Min Deposit

100 USD/1 229 BWP

Regulators

ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

Total Pairs

63

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

FP Markets Overview

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 Botswanan 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 and CySEC.

 

👉 Since its inception in 2005, FP Markets has served customers from around the globe, giving it extensive knowledge of the industry. As a major advantage, FP Markets employs electronic bridges and sophisticated trading technology to boost its proposition, as well as invest in its innovation.

 

👉 FP Markets has its main office in Sydney, Australia, and is governed by the Australian Securities and Investments Commission (ASIC). To top it all off, FP Markets has expanded its offering by opening a European Cyprus branch, making it eligible for trading throughout the EEA zone.

 

👉 FP Markets is popular for using ECN technology that provides direct access to liquidity providers via Equinix NY4 Data Centers without dealer interference and executes orders at the highest feasible price within offering for the given asset, which is another strong element of their proposition.

 

👉 Therefore, Botswanan traders can take advantage of this technology as gives exceptionally rapid execution speeds as well as the most attractive quotations with spreads as low as 0.0 pips.

 

👉 This FP Markets review for Botswana 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 Distribution of Traders

👉 FP Markets currently has the largest market share in these countries:

➡️ Italy – 14.3%

➡️ India – 13.1%

➡️ Australia – 12.2%

➡️ United Kingdom – 5.6%

➡️ Spain – 5.5%

 

Popularity among traders who choose FP Markets

🥇 The forex broker FP Markets does not have a dominant position in the Botswanan forex market, but it is nonetheless ranked in the top 50 brokers for Botswanan traders.

FP Markets At a Glance

🏛 HeadquarteredAustralia
🌎 Global OfficesAustralia and Cyprus
🏛 Local Market Regulators in Botswana• Ministry of Finance and Economic Development (MFED)
• Bank of Botswana (BoB)
• Non-Bank Financial Institutions Regulatory Authority (NBFIRA)
💳 Foreign Direct Investment in Botswana115.89 BWP Million in 2021
💰 Foreign Exchange Reserves in Botswana5270 USD Million in 2021
✔️ Local office in Gaborone?No
👨‍⚖️ Governor of SEC in BotswanaNone, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana
✔️ Accepts Botswana Traders?Yes
📊 Year Founded2005
📞 Botswana Office Contact NumberNone
📱 Social Media Platforms• Facebook
• Twitter
• Instagram
• LinkedIn
• YouTube
• Telegram
⚖️ RegulationASIC, CySEC
1️⃣ Tier-1 Licenses• Australian Securities and Investments Commission (ASIC)
2️⃣ Tier-2 Licenses• Cyprus Securities and Exchange Commission (CySEC)
3️⃣ Tier-3 LicensesNone
🪪 License Number• Australia – ABN 16112600281
• Cyprus – 371/18
⚖️ MFED, BoB, or NBFIRA RegulationNo
✔️ Regional RestrictionsUnited States, Japan, New Zealand
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor Accounts4
✔️ PAMM AccountsYes
💻 Liquidity ProvidersBarclays, BNP Paribas, Commerzbank, Credit Suisse, Goldman Sachs
✔️ Affiliate ProgramYes
📱 Order ExecutionMarket
📊 Starting spread0.0 pips
📉 Minimum Commission per TradeUS$3 per side
💰 Decimal Pricing5th decimal pricing after the comma
📞 Margin Call100%
🛑 Stop-Out50%
📉 Minimum Trade Size0.01 lots
📈 Maximum Trade Size50 lots
✅ Crypto trading offered?Yes
✔️ Offers a BWP Account?No
📉 Dedicated Botswana Account Manager?No
📈 Maximum Leverage1:500
📊 Leverage Restrictions for Botswana?No
💳 Minimum Deposit (BWP)850 BWP or an equivalent to AU$100
✔️ Botswana Pula Deposits Allowed?Yes
📊 Active Botswana Trader Stats250,000+
👥 Active Botswana-based FP Markets customersUnknown
🔁 Botswana Daily Forex TurnoverUnknown, Forex overall is $6.6 Trillion
💰 Deposit and Withdrawal OptionsSticPay, PerfectMoney, DragonPay, Rupee, Pagsmile, Rapyd, Rapid, XPay, Finrax, LetKnowPay, LuqaPay, PayRetailers, ApplePay, GooglePay, VirtualPay
💻 Minimum Withdrawal TimeInstant
⏰ Maximum Estimated Withdrawal TimeUp to 5 working days
💳 Instant Deposits and Instant Withdrawals?Yes, Sticpay wallet withdrawals
🏛 Segregated Accounts with Botswana 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/BWP currency pair?No
📊 USD/BWP Average SpreadN/A
✅ Offers Botswana Stocks and CFDsNo
💻 Languages supported on the WebsiteEnglish, Arabic, German, Portuguese, Vietnamese, Indonesian, French, Malay, Italian, Russian
☎️ Customer Support LanguagesMultilingual
👥 Copy Trading SupportYes
⏰ Customer Service Hours24/7
📞 Botswana-based customer support?No
💸 Bonuses and Promotions for Botswanans?No
📚 Education for Botswanan beginner tradersYes
📱 Proprietary trading softwareYes
🤝 Most Successful Trader in BotswanaUnknown
✔️ Is FP Markets a safe broker for Botswana Traders?Yes
🎖 Rating for FP Markets Botswana9/10
🥇 Trust score for FP Markets Botswana81%
👉 Open Account👉 Open Account

FP Markets Regulation and Safety of Funds

Regulation and Safety of Funds

FP Markets Regulation in Botswana

👉 FP Markets does not currently have any local regulations or licenses with market regulators in Botswana.

 

FP Markets Global Regulations

👉 FP Markets is a financial services company that is approved and regulated by the Australian Securities and Investment Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).

 

FP Markets Client Fund Security and Safety Features

👉 Strong regulations means that FP Markets is required to adhere to stringent rules and regulations, which provides you with the peace of mind that you are dealing with a respectable and trustworthy trading broker that will do business with the highest levels of honesty and transparency.

 

👉 In addition, client funds are housed in segregated accounts with top-tier banks, where they are kept separate from the company’s finances to prevent them from being utilized for any other reason.

 

👉 There is no negative balance protection available for ASIC and St Vincent customers. However, negative balance protection is only accessible if you have an account with FP Markets under CySEC regulation.

 

👉 Residents of the United States, Japan, and New Zealand, as well as any other nation or jurisdiction where limitations are imposed by local laws and regulations, cannot use the services or products offered by FP Markets.

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

👉 FP Markets offers Botswanan traders a choice of four live trading accounts, each of which is tailored to the demands of a particular kind of trader with a varying degree of trading expertise. These account types are:

➡️ MT4/5 Standard Account

➡️ MT4/5 Raw Account

➡️ MT4/5 Islamic Standard Account

➡️ MT4/5 Islamic Raw Account

💻 Live Account📉 Minimum Dep.📊 Average Spread💰 Commissions💸 Average Trading Cost
➡️ Standard850 BWP/100 AUD1 pipNone10 USD
➡️ Raw850 BWP/100 AUD0.0 pipsUS$3 per side7 USD
➡️ Islamic Standard850 BWP/100 AUD1 pipNone10 USD
➡️ Islamic Raw850 BWP/100 AUD0.0 pipsUS$3 per side7 USD

 

FP Markets Live Trading Accounts

MT4/5 Standard Account

👉 This account is an excellent choice for Botswanan traders who wish to take advantage of the most competitive trading conditions available.

Account FeatureValue
📉 Minimum Deposit Requirement1,600 BWP or an equivalent to AU$200
📊 Spreads Variable, from 1 pip
🔨 Instruments Available• 60+ Forex pairs
• Precious Metals
• Indices
• Commodities
💳 Commission ChargesNone
✔️ Markets Offered• 50+ FX Pairs including major, minor, and exotic pairs
• Shares
• Indices
• Commodities
• Cryptocurrencies
📈 Maximum Leverage offered1:500
📈 Access to Trading ToolsYes
💻 Base Account CurrenciesAUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD
✔️ Expert Advisors Offered?Yes
📱 Scalping Allowed?Yes
✅ VPS Available?Yes

 

MT4/5 Raw Account

👉 Trading accounts for Botswana traders may be opened on either MetaTrader 4 or MetaTrader 5, and they benefit from ultra-low spreads and the best trade execution speeds available.

Account FeatureValue
📉 Minimum Deposit Requirement850 Botswanan Pula or an equivalent to AU$100
📊 Spreads Variable, from 0.0 pips
🔨 Instruments Available• 60+ Forex pairs
• Precious Metals
• Indices
• Commodities
💳 Commission ChargesUS$3 per side
📈 Maximum Leverage offered1:500
📈 Market ExecutionECN
✔️ Expert Advisors Offered?Yes
📱 Mobile App Offered?Yes
✅ VPS Available?Yes

 

MT4/5 Islamic Standard Account

👉 This is a typical and standard account specifically designed for Muslim traders in Botswana, offering them competitive trading conditions as well as the chance to use a variety of trading tactics and tools.

Account FeatureValue
📉 Minimum Deposit Requirement850 Botswanan Pula or an equivalent to AU$100
📊 Spreads Variable, from 1 pip
🔨 Instruments Available• 60+ Forex pairs
• Precious Metals
• Indices
• Commodities
💳 CommissionsNone
📈 Maximum Leverage offered1:500
📈 Market ExecutionECN
✔️ Expert Advisors Offered?Yes
📱 Mobile App Offered?Yes
✅ VPS Available?Yes

 

FP Markets Base Account Currencies

👉 FP Markets offers several base account currency options but does not accommodate BWP as one of these currencies.

 

FP Markets Demo Account

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 offers a trial account with $100,000 in virtual money, or the equivalent in your base account currency, for people interested in checking out the platform.

 

👉 Demo accounts are intended to simulate the conditions that would occur on a genuine account, and traders may choose between Standard and Raw Accounts on both the MT4 and MT5 platforms. FP Markets offers an unlimited demo account if Botswanan traders use the account frequently.

 

👉 Any inactive demo accounts will automatically be terminated after 30 days of inactivity, which means that traders must register again if they want to use the demo account.

 

FP Markets Islamic Account

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.

 

👉 As an Islamic Account option, FP Markets provides Muslim Botswanan traders with the Standard and Raw accounts. Each of these accounts offers competitive trading conditions and benefits, allowing Muslim traders to get a competitive advantage in their trading.

 

👉 Traders who utilize this option, however, should be aware that there are administrative costs imposed in USD per lot, each night. The following are the fees:

📱 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 Botswana

How to open an Account with FP Markets in Botswana

👉 To register an account with FP Markets, Botswana Traders can follow these steps:

➡️ Visit the official website of FP Markets and select the option to register a new account from the main menu or the homepage.

➡️ Complete the basic information on the application by providing your name, email, and country of residence.

➡️ Provide further details about yourself, such as your date of birth, residence, and employment.

➡️ Choose your account type, trading platform, and base currency.

➡️ Complete a short quiz to show your knowledge of financial products.

➡️ Upload proof of your identity and residential address as part of the KYC process for account approval.

FP Markets Vs AMarkets Vs OspreyFX – Broker Comparison

🥇 FBS🥈 FXCM🥉 eToro
⚖️ RegulationASIC, CySECSVG FSANone
📱 Trading Platform• MetaTrader 4
• MetaTrader 5
• Myfxbook AutoTrade
• FP Markets App
• MetaTrader 4
• MetaTrader 5
• AMarkets Trading App
• MetaTrader 4
• MetaTrader 5
💰 Withdrawal FeeYesYesNo
📊 Demo AccountYesYesYes
📈 Minimum Deposit850 BWP1,200 BWP300 BWP
📊 Leverage1:5001:10001:500
📊 Spread0.0 pipsFrom 0.0 pipsFrom 0.4 pips
💰 CommissionsFrom US$3$2.5 per lotFrom $1
✴️ Margin Call/Stop-Out100%/50%• 50%
• 20% to 40%
100%/70%
💻 Order ExecutionMarketMarket, InstantMarket
💳 No-Deposit BonusNoNoNo
📊 Cent AccountsNoNoNo
📈 Account Types• MT4/5 Standard Account
• MT4/5 Raw Account
• MT4/5 Islamic Standard Account
• MT4/5 Islamic Raw Account
• Fixed Account
• Standard Account
• ECN Account
• RAMM Account
• Standard Account
• PRO Account
• VAR Account
• Mini Account
⚖️ CBN RegulationNoNoNo
💳 NGN DepositsYesYesNo
📊 Botswanan Naira AccountNoNoNo
👥 Customer Service Hours24/724/524/7
📊 Retail Investor Accounts444
☪️ Islamic AccountYesYesYes
📉 Minimum Trade Size0.01 lots0.01 lots0.01 lots
📈 Maximum Trade Size50 lotsDepends on the Account Balance1,000 lots
💰 Minimum Withdrawal TimeInstantInstantInstant
📊 Maximum Estimated Withdrawal TimeUp to 5 working days3 to 5 Business DaysUp to 3 hours
💸 Instant Deposits and Instant Withdrawals?Yes, Sticpay wallet withdrawalsYesYes

FP Markets Trading Platforms

FP Markets Account Types

👉 FP Markets offers Botswana Traders a choice between these trading platforms:

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ Myfxbook AutoTrade

➡️ FP Markets App

 

Desktop Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

 

MetaTrader 4

👉 There are more than 50 built-in indicators for market analysis in MetaTrader 4 (MT4), one of the most popular trading platforms in the world, to help you make better trading choices.

 

👉 As well as all of this, FP Markets provides its Botswanan customers with a first-rate trading experience by providing a wide range of sophisticated charting tools, technical indicators, and news and analysis, all of which can be accessed via the desktop interface.

 

MetaTrader 5

👉 More indicators, market depth display, 21-time frames, a built-in economic calendar, and an upgraded strategy tester are some of the new features of MetaTrader 5. If you are looking for an easy way to trade in Forex, stock indexes and metals, as well as commodities and currencies, FP Markets’ MT5 platform is for you.

 

WebTrader Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ Myfxbook AutoTrade

 

MetaTrader 4

👉 FP Markets MT4 uses an ECN exchange mechanism to expedite order processing. It is possible to display various charts and market data at the same time, making it easier to keep an eye on different instruments. With one-click trading, you may place a variety of orders straight on live charts.

 

👉 In addition, with the Web version of MetaTrader, you may join the MQL5 community for free and have access to a plethora of additional indicators as well as the trading strategies of other members. There are several signs, robots, and signals to be found.

 

MetaTrader 5

👉 MT5 has one of the most comprehensive sets of integrated indicators and graphical elements available, as well as the ability to visualize currency market depth. MetaTrader 5 has the additional advantage of allowing for a high degree of versatility in trading.

 

👉 FP Markets is compatible with a wide range of operating systems, including the Mac OS X operating system. Access to WebTrader, a web-based trading platform, may be accomplished using any major web browser.

 

Myfxbook AutoTrade

👉 Users of FP Markets’ MetaTrader 4 (MT4) live accounts may utilize the AutoTrade function to examine the historical success of trading techniques and then replicate them in their accounts. AutoTrade is great for scalping since it is particularly created for the MetaTrader 4 trading platform.

 

Trading App

Trading App

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ FP Markets App

 

MetaTrader 4 and 5

👉 Through MetaTrader 4 and MetaTrader 5, FP Markets provides mobile trading platforms for iOS and Android devices with alerts and push notifications, as well as complete control over your trade and account from your mobile device.

 

👉 On the MetaTrader 5 trading platform website, Botswanan traders may do market research. Complete charting and technical analysis tools, currency indicators, and improved pending order capabilities round out the list of new features.

 

FP Markets App

👉 FP Markets has developed a customized trading software that allows you to trade Forex and CFDs across a wide range of assets including stocks, indices, commodities, futures, and cryptocurrencies, all from the palm of your hand. You can quickly access all your favorite trading items from one easy app and one account, saving you time and money.

 

👉 Trades may be placed, monitored, and reviewed in seconds using the FP Markets mobile application. Traders may also do research and technical analysis with the use of a variety of trading instruments available to them.

 

👉 The feature-rich FP Markets Trading App puts you in complete control of your trading experience, and it is available for download on all Apple and Android smartphones.

FP Markets Range of Markets

👉 Botswana 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📈 Max Leverage Offered
➡️ Forex601:500
➡️ Precious Metals31:500
➡️ Indices171:200
➡️ Stocks• DMA: 10,000+
• MetaTrader: 1,000+
1:20
➡️ Cryptocurrency111:5
➡️ Energies41:200
➡️ Bonds2
➡️ Agricultural Commodities51:200

Broker Comparison for Range of Markets

🥇 FP Markets🏅 AMarkets🥉 OspreyFx
➡️️ ForexYesYesYes
➡️️ Precious MetalsYesYesYes
➡️️ ETFsNoYesNo
➡️️ CFDsYesYesYes
➡️️ IndicesYesYesYes
➡️️ StocksYesYesYes
➡️️ CryptocurrencyNoYesYes
➡️️ OptionsNoNoNo
➡️️ EnergiesYesYesYes
➡️️ BondsNoYesNo

Overall Rating

Min Deposit

100 USD/1 229 BWP

Regulators

ASIC, CySEC

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 and Non-Trading Fees

Spreads

Spreads

👉 FP Markets is an ECN and STP broker that charges varied spreads across all its trading accounts in the following ways:

➡️ 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

 

Commissions

Commissions

👉 While FP Markets offers Botswanan traders some commission-free options, there are commission fees applied to the zero-spread accounts to cover the broker’s fee for facilitating the trade. These commissions are applied as follows:

➡️ MT4/5 Raw Account – US$3 per side

➡️ MT4/5 Islamic Raw Account – US$3 per side

 

Overnight Fees, Rollovers, or Swaps

Overnight Fees, Rollovers, or Swaps

👉 FP Markets’ website provides all exchange rates for each instrument, which is a great sign of transparency. FP Markets calculates swap costs using current bank interest rates plus additional mark-up that forms part of the overall broker fees.

 

👉 FP Markets uses the trading platforms’ timestamp to calculate overnight fees, which are implemented at the stroke of midnight. Overnight fees are only applied on positions that have been open for more than 24 hours and might be negative or positive depending on the interest rate differential between the two currencies.

 

👉 Investors in certain currency pairs should be aware of the possibility of negative exchange rates. Instead of traders having to worry about swap computation, MetaTrader 4 and 5 handle it automatically.

 

👉 For each currency pair, FP Markets calculates overnight costs using a standard lot size of 100,000 base units. FP Markets traders, in our experience, will be charged 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

Deposit and Withdrawal Fees

👉 When Botswanan traders make deposits to their trading accounts FP Markets does not apply any deposit fees. However, when withdrawing funds, Botswanan traders must note that the following withdrawal fees are charged:

➡️ 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

Inactivity Fees

👉 One advantage of FP Markets is that there is no inactivity cost, so if you do not use your account for an extended period, you will not be charged any fees or penalties.

 

Currency Conversion Fees

Currency Conversion Fees

👉 While FP Markets does not list any further costs, Botswanan traders may be charged currency conversion fees when depositing or withdrawing in BWP, depending on the payment method they choose.

FP Markets Deposits and Withdrawals

👉 FP Markets offers the following deposit methods:

➡️ Credit card

➡️ 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, Botswanan 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🥈 AMarkets🥉 OspreyFx
Minimum Withdrawal TimeInstantInstantInstant
Maximum Estimated Withdrawal TimeUp to 5 working days3 to 5 Business DaysUp to 3 hours
Instant Deposits and Instant Withdrawals?Yes, Sticpay wallet withdrawalsYesYes

FP Markets Deposit Currencies, Deposit and Withdrawal Processing Times

💳 Payment Method💰 Deposit Currencies🔁 Deposit Processing💳 Withdrawal Processing
Credit CardAUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD, CZK, PLN, AEDInstant1 business day
Debit CardAUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD, CZK, PLN, AEDInstant1 business day
Bank TransferAUD, USD, EUR, GBP, SGD, HKD1 business day
NetellerAUD, CAD, CHF, EUR, GBP, JPY, INR, BRL, SGD, USDInstant1 business day
SkrillAUD, CAD, EUR, GBP, INR, USD, BRLInstant1 business day
PayTrustMYR, IDR, VNDInstant1 business day
SticpayJPY, EUR, GBP, USD, HKD, TWD, KRW, SGInstantWallet: Instant
Bank Wire: 1 – 5 days
FasapayUSD, IDRInstant1 business day
Virtual PayKES, UGX, TSHInstant1 business day
Rupee PaymentsINRInstant1 – 2 business days
DragonpayPHP, AUD, CAD, CHF, EUR, GBP, HKD, SGD, USDInstant1 business day
Perfect MoneyUSDInstant1 business day
Asian, African and Latam PaymentsUSD, GBP, EUR, African and Asian CurrenciesInstant1 business day
PaylivreBRL, USDInstant1 – 2 business days
Cryptocurrency (LetKnowPay)ADA, BCH, BTC, DASH, ETH, LTC, PAX, XRP, TUSD, USDC, USDT (ERC20), USDT (TRC20), ZECUp to 1 hour1 business day
Rapyd Bank TransferBRL, MXN, COP, CLPInstant
Rapid TransferEUR, DKK, SEK, HUF, GBP, PLN, NOKInstant1 – 2 business days
FinraxBTC, ETH, LTC, XRP, BAT, BNT, CVC, ENJ, FUN, LINK, MITH, MTL, OMG, REP, XLM, BCH, USDTInstant1 business day
MPSAINRInstant1 – 2 business days
NganluongVNDInstant1 business day
XPAYIDR, MYR, THB, VNDInstant1 business day
Broker to BrokerAUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD1 business day
Domestic Bank WireAUD1 business day
International Bank WireAll except AUD1 business day
FairPayBRL, CLP, COP, CRC, GTQ, MXN, PEN, USD1 – 2 business days

How to Deposit Funds with FP Markets

👉 To deposit funds to an account with FP Markets, Botswana Traders can follow these steps:

➡️ Make sure that your trading account has been verified and validated before you attempt to deposit funds.

➡️ Log into your client area with the credentials that you registered and select “Funding” from the lefthand side of the trader’s dashboard to begin.

➡️ Select the trading account to where you want to deposit funds and click on “Deposit.”

➡️ Choose your preferred deposit method from the list provided, type in a deposit amount, and select the appropriate deposit currency.

➡️ Complete any additional steps required by your payment provider to complete the process.

FP Markets Fund Withdrawal Process

👉 To withdraw funds from an account with FP Markets, Botswana Traders can follow these steps:

➡️ Make sure that you have enough funds to make a withdrawal.

➡️ Log into your Client Area and select “Funding” from the lefthand panel followed by “Withdraw.”

➡️ Complete the form that loads and use the same method that you used with your fund deposit first before choosing another method.

👉 Botswanan traders must note that there are limits on the number of funds that they can withdraw according to the amount that they deposited. For instance, if a trader has deposited 100 BWP by using a credit or debit card, they can only withdraw that exact amount using the same method used with deposits.

👉 When Botswanan traders fund the trading account in several ways, they must use the same withdrawal methods and subsequent withdrawal amounts in the same sequence that deposits were made.

👉 Once these options have been exhausted traders can use other withdrawal methods. However, this is subject to FP Markets’ approval.

Overall Rating

Min Deposit

100 USD/1 229 BWP

Regulators

ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

Total Pairs

63

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

FP Markets Education and Research

Education

👉 FP Markets offers the following Educational Materials:

➡️ Trading Courses Videos

➡️ Webinars

➡️ Podcasts

➡️ Events

➡️ Platform Video Tutorials

➡️ eBooks

➡️ Glossary

➡️ Newsletter

➡️ FP Markets Academy

 

Research and Trading Tool Comparison

🥇 FP Markets🥈 AMarkets🥉 OspreyFx
➡️ Economic CalendarYesYesNo
➡️ VPSYesYesNo
➡️ AutoChartistYesYesNo
➡️ Trading ViewNoNoNo
➡️ Trading CentralNoNoNo
➡️ Market AnalysisYesYesYes
➡️ News FeedYesYesYes
➡️ BlogYesYesYes

 

👉 FP Markets offers Botswana Traders the following Research and Trading Tools:

➡️ Trader’s Hub

➡️ Trading Knowledge

➡️ Technical Analysis

➡️ Fundamental Analysis

➡️ Economic Calendar

➡️ Forex Calculator

➡️ Traders Hub Blog

FP Markets Bonuses and Promotions

👉 FP Markets does not currently indicate any active bonuses or promotions for Botswanan traders.

How to open an Affiliate Account with FP Markets

👉 To register an Affiliate Account, Botswana Traders can follow these steps:

➡️ Go to the official FP Markets website and scroll down to “Partners.”

➡️ Select an option and wait for a new page to load.

➡️ Click on the red “Join Now” banner and choose “Affiliate” from the dropdown menu.

➡️ Include your first and last name, a valid email address, your country of residence, and your cell phone number.

➡️ Next, enter a Username and a password chosen by the user.

➡️ Next, describe how you intend to advertise FP Markets through your website, social media, as a signal provider, Google, PPC, or any other means.

➡️ Enter your social media connections and website URLs here.

➡️ Indicate whether you are an associate with other brokers and the number of customers you recommend monthly.

➡️ Choose your estimated total deposits and mention how long you have been an associate (if you are an existing affiliate with other brokers).

➡️ Specify the areas you want to target.

➡️ Finally, read and agree to the Affiliate Terms and Conditions before clicking “Apply Now.”

 

FP Markets Affiliate Program Features

👉 Overall, FP Markets has one of the most successful partnership programs in the industry, which is intended to reward and compensate brokers who refer new customers to FP Markets, as well as partners who refer new clients to FP Markets.

👉 In addition to offering affiliates the opportunity to earn up to $800 CPA, FP Markets also provides the following bonuses and features:

➡️ Real-time tracking technology that is robust.

➡️ Advanced and transparent reporting is available 24 hours a day, five days a week

➡️ Access to a dedicated conversion consultant on demand

➡️ Marketing materials that are multilingual and can be easily translated

➡️ Personalized agreements, as well as payment schemes

➡️ Introducing Broker and innovative Affiliate portals.

➡️ Payments are made quickly and easily, and commissions are generous.

FP Markets Customer Support

👉 FP Markets is well-known for offering dedicated, helpful customer support that can be accessed 24 hours, 5 days a week over several channels.

Customer SupportFBS’ Customer Support
⏰ Operating Hours24/5
🗣 Support LanguagesEnglish, Arabic, Indonesian, Vietnamese, Portuguese, Thai, Malay, Japanese
🗯 Live ChatYes
📧 Email AddressYes
☎️ Telephonic SupportYes
📞 Local Support in Botswana?No
🥇 Overall quality of FP Markets Support4.2/5

FP Markets Corporate Social Responsibility

👉 There is currently no information relating to FP Markets’ CSR initiatives or active projects.

Our Verdict on FP Markets

👉 Overall, FP Markets has been recognized as one of the most well-regarded CFD and FX trading platforms. As a result of its superior technology, FP Markets has developed direct access to markets and offers a diverse choice of instruments to trade at cheap prices.

 

👉 FP Markets is appropriate for traders of varying sizes and levels of skill, while FP Markets is a dependable brokerage, which is enhanced by the fact that they are governed by CySEC and ASIC rules.

 

👉 With superb research tools and detailed analysis appropriate for beginner traders as well as assisting daily trading, FP Markets offers a wide range of services such as market outlooks, news feeds and trading ideas, amongst others.

 

👉 Aside from the favourable and high appreciation that customers have for the company, FP Markets offers a variety of languages, allowing you to always rely on high-quality service. With the reimbursement of VPS purchases, FP Markets is seeking to give back to its clientele.

 

👉 To qualify for a cash pay-out back into the trading account, the customer must join up with a preferred VPS provider and trade at least 10 lots on RAW FX, with the maximum cash reward per month being 50 dollars.

 

👉 Overall, there are a variety of variables that have contributed to FP Markets’ respectable position in the market, as well as its recognition by a variety of publications and reputable editions, among others.

 

👉 The proof that FP Markets is a legit and trusted institution can be found in the perfection of the service they provide, as well as in the trading conditions they provide and the high esteem they get from the traders.

Overall Rating

Min Deposit

100 USD/1 229 BWP

Regulators

ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

Total Pairs

63

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

FP Markets Pros and Cons

✔️ PROS❌ CONS
FP Markets is a well-established Australian broker regulated by ASIC and CySECFixed spreads are not available
Botswanan traders can choose from an impressive range of markets that can be traded through powerful platformsThere are withdrawal fees charged on most payment methods that are supported
FP Markets offers comprehensive mobile trading opportunitiesThere are administration fees which apply to the Islamic accounts and trading
Botswanan traders can expect superior ECN pricing that includes raw and tight spreads and low commissions
FP Markets is known for its fast trade execution that is delivered through the Equinix servers
There are commission-free accounts offered that still feature competitive spreads
There are dedicated Islamic accounts for Muslim traders
FP Markets offers a range of educational materials and advanced trading tools

FAQ

Is FP Markets a good broker?

Yes, FP Markets is classified as a low risk and high trust broker that offers a large range of tradable instruments, a choice between retail accounts and powerful trading platforms.

 

FP Markets also offers ECN technology and trading conditions that ensure that Botswanan traders get the best from their trading.

 

Is FP Markets regulated?

Yes, the Australian Securities and Exchange Commission (ASIC) regulates FP Markets in Australia, while the Cyprus Securities and Exchange Commission (CySEC) regulates FP Markets in Cyprus.

 

Is FP Markets regulated in the UK?

No, FP Markets is not regulated in the UK but Australia and Cyprus.

 

What is the withdrawal time with FP Markets?

This will be determined by the mode of withdrawal selected. Withdrawals through Sticpay’s wallet are immediate, but bank wire transfers might take up to three business days to process.

 

Traders should plan on waiting up to 10 days for overseas bank withdrawals to be processed.

 

Is FP Markets safe or a scam?

FP Markets is regarded safe since it has a long track record and is regulated by the top-tier Australian Securities and Investments Commission (ASIC) and CySEC in Cyprus, which is a Tier-2 market regulator with average trust.

 

How do I deposit into an FP Markets account?

You can use any of the supported payment methods offered by FP Markets including Credit/Debit Card, bank transfer, Neteller, Skrill, PayTrust, and several others.

 

Does FP Markets have a no-deposit bonus?

No, FP Markets does not have a no-deposit bonus and does not currently have any other active bonuses or promotions.

 

Does FP Markets have Nasdaq?

Yes, FP Markets offers Nasdaq, and you can also have access to other popular stock exchanges, including the ASX, NASDAQ, and NYSE.

 

Does FP Markets have Volatility 75?

Yes, FP Markets is one of few brokers that offers access to the Volatility 75 index.

Conclusion

👉 Now it is your turn to participate:

➡️ Do you have any prior experience with Exness?

➡️ What was the determining factor in your decision to engage with Exness?

➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?

➡️ Have you experienced any issues with Exness 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.

10/10 - (1 vote)

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