FP Markets Account Types
Overall, FP Markets offers four retail investor accounts. FP Markets is a reliable multi-regulated online broker with no-commission trading and tight spreads. It has over 70 000 active Botswana traders and has a verified trust score of 81% out of 100.
- Louis Schoeman
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Account Types Overview
Account Types
Account Features
Pros and Cons
Final Verdict
FAQ
Overall Rating
- 4.7/5
Min Deposit
100 USD/1 343 BWP
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 Marketes Account Types – 9 key points quick overview:
FP Markets OverviewFP 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.
👉 First Prudential (FP Markets) is a CFD and FX broker with a long track record. More than 12,000 CFD products are available, as well as raw, tight spreads starting at 0.0 pips.
👉 Botswanans can benefit from a big liquidity pool of regulated financial institutions since the broker has raw pricing that it feeds straight from its top-tier liquidity suppliers. FP Markets offers a varied mix of liquidity as well as fiercely competitive pricing.
👉 FP Markets has built a name over the years by offering financial trading platforms and multi-asset broker services. Although certain FP Markets services are restricted by legal requirements, the overall experience is positive.
👉 FP Markets broker provides trading products depending on the client’s country of residence. Traders’ losses may surpass their deposits depending on market circumstances, and FP Markets does not cover their capital in such instances.
👉 While forex and CFD trading do include some degree of risk, FP Markets seeks to reduce that risk by enhancing the functionality of the widely used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.
👉 FP Markets has clients from around the world and these areas have the largest distributions:
➡️ Brazil – 25.1%
➡️ India – 12.35%
➡️ Spain – 10.8%
➡️ Italy – 9.03%
➡️ Australia – 5.3%
FP Markets At a Glance
| 🏛 Headquartered | Australia |
| 🌎 Global Offices | Australia 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 Botswana | 115.89 BWP Million in 2021 |
| 💰 Foreign Exchange Reserves in Botswana | 5270 USD Million in 2021 |
| ✔️ Local office in Gaborone? | No |
| 👨⚖️ Governor of SEC in Botswana | None, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana |
| ✔️ Accepts Botswana Traders? | Yes |
| 📊 Year Founded | 2005 |
| 📞 Botswana Office Contact Number | None |
| 📱 Social Media Platforms | • Facebook • YouTube • Telegram |
| ⚖️ Regulation | ASIC, CySEC, FSCA, CMA |
| 1️⃣ Tier-1 Licenses | • Australian Securities and Investments Commission (ASIC) |
| 2️⃣ Tier-2 Licenses | • Cyprus Securities and Exchange Commission (CySEC) |
| 3️⃣ Tier-3 Licenses | None |
| 🪪 License Number | • Australia – ABN 16112600281 • Cyprus – 371/18 |
| ⚖️ MFED, BoB, or NBFIRA Regulation | No |
| ✔️ 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 a BWP Account? | No |
| 📉 Dedicated Botswana Account Manager? | No |
| 📈 Maximum Leverage | 1:500 |
| 📊 Leverage Restrictions for Botswana? | No |
| 💳 Minimum Deposit (BWP) | 1352 BWP or an equivalent to AU$100 |
| ✔️ Botswana Pula Deposits Allowed? | Yes |
| 📊 Active Botswana Trader Stats | 250,000+ |
| 👥 Active Botswana-based FP Markets customers | Unknown |
| 🔁 Botswana Daily Forex Turnover | Unknown, Forex overall is $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 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 Spread | N/A |
| ✅ Offers Botswana 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 |
| 📞 Botswana-based customer support? | No |
| 💸 Bonuses and Promotions for Botswanans? | No |
| 📚 Education for Botswanan beginner traders | Yes |
| 📱 Proprietary trading software | Yes |
| 🤝 Most Successful Trader in Botswana | Unknown |
| ✔️ Is FP Markets a safe broker for Botswana Traders? | Yes |
| 🎖 Rating for FP Markets Botswana | 9/10 |
| 🥇 Trust score for FP Markets Botswana | 81% |
| 👉 Open Account | 👉 Open Account |
FP Markets Account Types
👉 FP Markets offers a variety of accounts for both novice and experienced traders. All accounts provide variable leverage up to 1:500 and use the ECN pricing methodology through New York’s NY4 Equinix Servers.
👉 This strives to provide you with the narrowest spreads and quickest transaction execution speeds available.
👉 There are no account inactivity fees, so you will not be overwhelmed with any surprise expenses. In only a few minutes, you can easily register an FP Markets account.
👉 After completing a brief online form, you must validate your email address. Then, for KYC reasons, you submit your identifying papers. Once validated, you may fund your account and begin trading. If necessary, customer service is ready to help with the account opening procedure.
👉 Botswana traders who are interested in FP Markets can expect these account options:
➡️ 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 |
| Standard | 880 BWP/100 AUD | 1 pip | None | 10 USD |
| Raw | 880 BWP/100 AUD | 0.0 pips | US$3 per side | 7 USD |
| Islamic Standard | 880 BWP/100 AUD | 1 pip | None | 10 USD |
| Islamic Raw | 880 BWP/100 AUD | 0.0 pips | US$3 per side | 7 USD |
FP Markets Account Features
MT4/5 Standard Account
👉 This account is intended for Botswana traders seeking basic, competitive trading conditions at an affordable price.
| Account Feature | Value |
| 💰 Minimum Deposit | 100 USD / 1 343 BWP |
| 📊 Average Spreads | 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
👉 This account can be opened using either MetaTrader 4 or MetaTrader 5 and doing so will get you access to the widest possible range of markets, the most competitive spreads available, and the most affordable fees.
| Account Feature | Value |
| 💰 Minimum Deposit | 880 Botswanan Pula or an equivalent to AU$100 |
| 📊 Average Spreads | 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 account, which is great for Muslim traders in Botswana because it provides competitive trading circumstances as well as a varied array of trading items and approaches, is perfect for those traders.
| Account Feature | Value |
| 💰 Minimum Deposit | 880 Botswanan Pula or an equivalent to AU$100 |
| 📊 Average Spreads | 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
👉 Traders that seek to avoid overnight costs may profit from this account. This includes high-frequency traders, day traders, algorithmic traders, and other professional traders.
| Account Feature | Value |
| 💰 Minimum Deposit | 850 Botswanan Pula or an equivalent to AU$100 |
| 📊 Average Spreads | 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 Demo Account
👉 When trading financial markets, there is some risk involved, and FP Markets provides its customers with a risk-free platform where they can test methods, practice trading, and discover what the broker has to offer in a safe trading environment with genuine market circumstances.
👉 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 can choose between Standard and Raw Accounts on both the MT4 and MT5 platforms.
👉 Demo accounts are an excellent way to gain trading experience before putting your real money at risk. FP Markets demo accounts are unlimited and will not expire until inactive for more than 30 days.
FP Markets Islamic Account
👉 Muslim Botswana traders who wish to utilize an Islamic Account have two options: regular and raw accounts. As a result, Islamic traders may benefit from the favourable trading conditions and incentives provided by these accounts.
👉 However, traders should be aware that those who pick this option will suffer administrative costs, which are computed in USD per lot and charged every night.
Overall Rating
- 4.7/5
Min Deposit
100 USD/1 343 BWP
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 Botswana Pros and Cons
| ✔️ Pros | ❌ Cons |
| Botswanan traders can choose from over 12,000 financial instruments | Botswanans pay currency conversion fees because BWP is not an accepted base currency |
| FP Markets is well-regulated and is a reliable forex and CFD broker | Administrative costs apply to the Islamic Accounts |
| Botswanans have access to AutoChartist along with other advanced trading tools | Botswanans are subject to withdrawal fees on several payment methods |
| There are several commission-free trading options provided | |
| FP Markets guarantees ECN execution which results in some of the tightest spreads | |
| Botswanan social traders have access to several social trading opportunities | |
| Islamic conversion options are available |
Verdict on FP Markets
👉 Overall, FP Markets is very competitive in terms of its trading fees and spreads.
FAQ
Where is FP Markets regulated?
FP Markets has offices in Australia and Cyprus, with regulations through local market regulators in the area, namely ASIC and CySEC.
Which live account options does FP Markets offer?
FP Markets offers a Standard and Raw Account, with the option to convert these accounts to Islamic or Swap-Free Accounts.
What are the minimum and maximum costs for keeping positions open on the FP Markets Islamic Account?
The minimum administrative cost on the Islamic account is 1 USD, and the maximum is 80 USD on XNG/USD.
How long do deposits take on FP Markets?
Deposits can reflect instantly, or they could take up to 1 working day.
Which trading platforms can I use with FP Markets?
You can use the following platforms:
- MetaTrader 4
- MetaTrader 5
- Myfxbook AutoTrade
- FP Markets App
Is FP Markets legit?
FP Markets is a well-regulated and reputable Australian-based broker with verified licenses and regulations.
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.
