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<p>Alison Heyerdahl is the Head of Content at FxScouts, a Chartered Market Technician (CMT), and an experienced trader, as well as a financial writer with extensive expertise in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast.</p>
In the fast-paced world of forex trading, choosing the right broker is crucial. FP Markets and easyMarkets are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.
The radar chart above illustrates the comparison between FP Markets and easyMarkets across several key metrics, with the highest possible score being 100 in each category.
At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated FP Markets and easyMarkets, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.
Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses. We also consider numerous factors when deciding which tier a regulator belongs to. Regulators that we rank as the world’s top regulators, gets a tier 1 rank, while regulators who only scores a tier 5-rank, provide virtually no regulatory oversight. The more top-tier authorities regulating a broker, the higher its trust rating. Read more about regulation and our tier system here.
In our comparison:
Based on these findings, FP Markets earned a higher trust rating than easyMarkets.
When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.
We found that FP Markets has overall lower trading costs than easyMarkets.
Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.
Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both easyMarkets and FP Markets offer copy trading.
A broader range of CFD instruments provides more trading opportunities. FP Markets offers a greater variety of instruments compared to easyMarkets:
For those interested in trading cryptocurrencies, easyMarkets offers 20 cryptocurrencies, while FP Markets offers 11 cryptocurrencies. Therefore, easyMarkets is the better choice for cryptocurrency trading.
Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that FP Markets charges a withdrawal fee and easyMarkets does not. Overall, FP Markets has better deposit and withdrawal processes than easyMarkets.
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
easyMarkets and FP Markets both have very good educational support. Both easyMarkets and FP Markets offer educational support for more experienced traders.Access to frequent and high-quality market research and analysis is crucial.
We found that FP Markets offers better research analysis than easyMarkets and that both easyMarkets and FP Markets offer frequent webinars.
FP Markets is an ASIC-regulated Forex broker with an excellent stock trading platform designed for more experienced stock pickers. We were also impressed with how easy the FP Markets Trading App was to use and the quality of FP Markets' customer service.
In terms of fees, FP Markets has an “ECN pricing” model which it claims provides “extremely competitive” costs. Unfortunately, we found that the fees on its MT4 and MT5 trading accounts were higher than most of its ECN competitors. But FP Markets does make it easy for beginners to get started, with 100 AUD minimum deposits and unlimited demo accounts.
FP Markets also stands out for its support for active and professional stock traders. FP Markets is one of few brokers offering the IRESS suite of trading platforms. These Direct Market Access platforms provide access to 10,000+ international stocks but the basic IRESS account requires a minimum deposit of 1000 AUD and commissions are charged on most trades.
Founded in 2001, easyMarkets is a well-regulated market maker with no dealing desk intervention. It offers trading on six different instruments, including commodities, indices, metals, shares, cryptocurrencies, and over 103 currency pairs, many more than most other Forex brokers.
easyMarkets has a history as one of the most innovative brokers in the industry and was the first broker to introduce negative balance protection and a guaranteed stop-loss. It has continued to innovate with tools such as easyTrade, Freeze Rate, and dealCancellation to help traders manage risk. Trading is offered on its beginner-friendly proprietary platform as well as MT4, and easyMarkets allows scalping, hedging, and algorithmic trading.
easyMarkets’ trading costs are generally higher than other Forex brokers. While its Standard Account requires a minimum deposit of 200 AUD - making it accessible to beginner traders - spreads are wide, starting at 2.0 pips on the EUR/USD. Spreads tighten to 0.9 pips (EUR/USD) on its VIP Account, but this is in exchange for a minimum deposit of 10,000 AUD, putting it out of the reach of most traders. However, easyMarkets does not charge any deposit or withdrawal fees and provides negative balance protection for all traders. Additionally, while easyMarkets provides a good educational library for beginner traders, its market analysis lacks depth compared to other brokers.
For more detailed reviews, please read our comprehensive assessments of FP Markets and easyMarkets.
Select another broker to another broker to compare features, fees, and platforms side by side.
Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.
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