Forex traders always look for trading with brokers that suit their trading needs and preferences. FP Markets and ProsperityFX are online forex brokers that offer their trading services to traders and investors. FP Markets is a highly regulated and trusted forex broker. It is regulated in two Tier-1 jurisdictions, one Tier-2 jurisdictions and one tier -4 jurisdictions. On the other hand, ProsperityFX is an offshore forex broker which is not regulated by any regulatory bodies.
In this article, we will review and compare the brokerage services offered by FP Markets and ProsperityFX. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.
FP Markets
Established in 2005, FP Markets is an Australian-based forex and CFD broker that offers online trading services worldwide. It is a global brand regulated by multiple authorities, including ASIC, CySEC, SVG, FSA, and FSCA. The broker provides traders access to more than 10,000 trading instruments on its four platforms: MT4, MT5, IREAA, and cTrader. It also provides access to tools like Autochartist, Trading Central, free VPS, social trading, and more. FP Markets is a low-cost forex broker with spreads as low as 0.0 pips. To learn more, you can read our review about FP Markets.
FP Markets Overview
- Founded In: 2005
- Founder: Matthew Murphy
- Headquarters: Sydney, Australia
- Minimum Deposit: 100 AUD or equivalent.
- Maximum Leverage: 500:1
- Regulations: ASIC, CySEC, FSCA, FSA
- Trading platform: MT4, MT5 and Ctrader
- Account Types: Islamic, Account Funding, Fund withdraw
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, Dragonpay, FasaPay, Klarna, Neteller, Ngan Luong, PayPal, PayTrust88, PerfectMoney, Poli, Rapid Transfer, Skrill, SticPay, Transfer from Existing Broker, UnionPay
- US Clients: Not Accepted
ProsperityFX
ProsperityFX facilitates the trading of over 200 forex and CFDs on its MT4 platforms. Founded in 2020, the broker offers multiple account types, ECN raw spreads, fast executions, and 24/7 support. You can fund your account via several cryptos and there are no extra charges for deposits or withdrawals.
ProsperityFX Overview
- Founded In: 2020
- Minimum Deposit: Between $25 and 500 (Standard Account: $50, Pro: $500, Var: $250, Mini: $25, Islamic:$50
- Maximum Leverage: 500:1
- Regulations: None
- Trading platform: MT4
- Account Types: Standard, Pro, Var, Mini
- Payment Options: VISA, MasterCard, Bitcoin
- US Traders: Accepted
FP Markets vs : ProsperityFX Features
FP Markets:
- Trading Instruments: 10000+ trading instruments including Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs,
- Maximum leverage: up to 1:500
- Minimum Deposit: 100 AUS or equivalent.
- Account Types: Offers 2 account types: Standard, Raw
- Fees: starting from 1.0 pips for a standard account, $3.5 commission on Raw account per side
- PAMM/ MAM: Yes,
- Zulutrade: Yes
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
ProsperityFX
- Trading Instruments: Forex, Indices, Commodities, Stocks, and Crypto
- Maximum leverage: 500:1
- Minimum Deposit: $20
- Account Types:Â 4 (Standard, Pro, Var, Mini)
- Trading Fees: Spread starting from 0.4 pips or commission from $1 to $8
- PAMM/ MAM:Â Not Available
- Scalping: AllowedÂ
- News Trading: Allowed
- EA/ Robot Trading: Allowed
FP Markets vs ProsperityFX: Pros and Cons
FP Markets Pros & Cons
- Regulated by ASIC, CySEC, FSCA, SVGFSA, AFS, FSP
- The Maximum leverage is 1:500
- Offers popular trading platforms like MT4, MT5, cTrader, WebTrader, IRESS
- Hedging, Scalping, EA/Robot, and Copy trading are allowed
- Easy, Fast and Digital account opening
- Offers passive investment programs like MAM, PAMM Accounts
- Faster order execution (40ms)
- FP Markets offers consistently tighter spreads from 0.0 pips
- No FCA regulation.
- The Minimum deposit is $100, which might be high for a beginner
- High Stock CFD fees
- US traders are not accepted
- Only two types of accounts ( Standard, Raw)
ProsperityFX Pros & Cons
- Low Minimum Deposit - Starting from $10
- Allow Crypto CFD Trading
- Demo Accounts are Available
- Higher Leverage for US, and EU clients.
- Allow Scalping, EA Trading and News Trading
- ProsperityFX Accepts Crypto Deposits
- Offshore Broker with very limited information
- Limited Deposit and Withdrawal Option
- Spread sometimes widens during market volatility
- Unregulated Forex broker
- No Managed Account Options
FP Markets vs ProsperityFX: Side-by-Side Comparison
FP Markets Vs ProsperityFX: Our Scores and Ratings
We rated both brokers, FP Markets and ProsperityFX, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.
FP Markets :
ProsperityFX
Final Verdict :
Both FP Markets and ProsperityFX offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. FP Markets is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including ASIC, CySEC, SVGFSA, FSCA. On the other hand, ProsperityFX is an unregulated offshore forex broker. FP Markets provides Multiple trading platforms including MT4, MT5, cTrader, WebTrader. On the Contrary, ProsperityFX does not offer MT4/MT5.
As FP Markets is not licensed in the USA, it cannot accept US clients. Being an unregulated offshore forex broker, ProsperityFX can onboard clients from anywhere in the world, including the USA. Therefore, non-US traders may opt for FP Markets, while US traders looking for offshore forex brokers may consider ProsperityFX. Trading with offshore forex brokers is risky and not recommended.
