SimpleFX vs FP Markets
SimpleFX or FP Markets – which is better for UK traders 2024? Compare SimpleFX and FP Markets in this detailed breakdown of their platforms, features and fees.
| SimpleFX | FP Markets |
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| SimpleFX is ranked #60 among CFD brokers. | FP Markets is ranked #65 among CFD brokers. |
| SimpleFX is an online broker specializing in CFD and cryptocurrency trading, with multi-currency accounts, STP execution, low pricing and no minimum deposit. Bringing innovation and gaining recognition at numerous industry events since 2014, SimpleFX now caters to retail traders from over 190 countries, boasting a client base exceeding 200,000 active users. | FP Markets is an ASIC- and CySEC-regulated broker that offers forex and CFD trading on a broad range of assets through the MT4, MT5 and IRESS platforms. With trading available through standard and raw spread accounts on thousands of international stocks, forex, indices, commodities, cryptocurrencies, bonds and ETFs, this broker has some of the most comprehensive market coverage available. FP Markets also offers a full range of additional features, including educational resources and access to powerful software such as Autochartist. |
| Pros | |
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| Cons | |
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| Awards | |
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| FCA Regulated | |
| No | No |
| Instruments | |
| CFDs, Forex, Indices, Stocks, Commodities, Cryptos | CFDs, Forex, Stocks, Indices, Commodities, Bonds, ETFs, Crypto |
| Demo Account | |
| Yes | Yes |
| Minimum Deposit | |
| $0 | $100 |
| Payment Methods | |
| Minimum Trade | |
| 0.01 Lots | 0.01 Lots |
| Regulator | |
| FSC | ASIC, CySEC, ESMA |
| Mobile Apps | |
| iOS, Android + WebTrader | iOS & Android |
| Trading App | |
SimpleFX provides a proprietary app for both Apple and Android mobile devices. The application boasts a user-friendly design, facilitating easy opening and closing of trades with access to the broker’s 220+ tradable assets. However, occasional unresponsiveness during testing, alongside an average charting package, means it won’t meet the needs of highly active traders. |
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| iOS App Rating | |
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| Android App Rating | |
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| Margin Trading | |
| Yes | No |
| MetaTrader 4 | |
| Yes | Yes |
| MetaTrader 5 | |
| No | Yes |
| cTrader | |
| No | Yes |
| AlgoTrader | |
| No | No |
| OmniTrader | |
| No | No |
| TradingView | |
| No | Yes |
| Autochartist | |
| No | Yes |
| eSignal | |
| No | No |
| Trading Central | |
| No | Yes |
| STP Account | |
| Yes | Yes |
| ECN Account | |
| No | Yes |
| DMA Account | |
| No | Yes |
| MAM Account | |
| No | Yes |
| PAMM Account | |
| No | Yes |
| LAMM Account | |
| No | No |
| Demat Account | |
| No | No |
| AI / Machine Learning | |
| Yes | No |
| Robo Advisor | |
| Yes | No |
| Negative Balance Protection | |
| Yes | Yes |
| Market Maker | |
| No | Yes |
| P2P Trading | |
| No | No |
| Spot Trading | |
| No | Yes |
| Auto Trading | |
| Expert Advisors (EAs) on MetaTrader | Expert Advisors (EAs) on MetaTrader |
| Copy Trading | |
| No | Yes |
| Copy Trading Platform | |
| FP Markets Social Trading app allows for the straightforward mirroring of established traders with an easy-to-follow ranking system. | |
| Social Trading | |
| Yes | Yes |
| Trade Signals | |
| Yes | |
| VPS Hosting | |
| No | Yes |
| Tournaments | |
| No | No |
| Demo Competitions | |
| No | No |
| Ethical Investing | |
| No | No |
| Custodial Account | |
| No | No |
| Guaranteed Stop Loss | |
| No | No |
| Inactivity Fee | |
| 3% | $0 |
| Islamic Account | |
| No | Yes |
| Account Currencies | |
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| Commodities | |
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| CFD | |
| SimpleFX stands out with highly leveraged trading options up to 1:1000 covering popular asset classes, including stocks, indices, currencies and commodities. Additionally, the social community serves as an excellent resource for gathering CFD strategy tips and short-term trading ideas. | FP Markets' CFD trading covers a range of markets, including 10,000+ equities, indices, commodities, cryptocurrencies and ETFs. Spreads are tight and traders get fast execution speeds. |
| Leverage | |
| 1:1000 | 1:30 (UK), 1:500 (Global) |
| FTSE Spread | |
| 1.3 | 1.64 |
| GBPUSD Spread< | |
| 1.2 | 1.9 average |
| Oil Spread | |
| 0.04 | 0.04 |
| Stocks Spread | |
| Variable | Variable |
| Forex | |
| SimpleFX provides a comprehensive selection of around 60 currency pairs, from majors like GBP/USD to exotics like CHF/PLN. Forex trading fees are competitive, averaging 0.9 pips on EUR/USD during testing, while MetaTrader 4, available on desktop, web and mobile, was built specifically for trading currencies online. | FP Markets is a good option for forex traders, with 70+ pairs covering an excellent range of currencies. Spreads are already tight on standard accounts and start from zero on raw spread accounts, and the broker offers high leverage up to 1:500 and top-tier liquidity. |
| Assets | |
| 57 | 60+ |
| GBPUSD Spread | |
| 1.2 | 1.9 |
| EURUSD Spread | |
| 0.9 | 1.1 |
| EURGBP Spread | |
| 1.0 | 1.7 |
| Currency Indices | |
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| Cryptocurrency | |
| SimpleFX’s strongest offering is its crypto trading environment, with a growing range of tokens, including Bitcoin and Ethereum paired with the USD. Its crypto-based accounts also ensure a smooth trading experience for crypto enthusiasts, while the bespoke staking service allows capital to be utilized for margin trading. | Take positions on popular cryptocurrencies, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin with leveraged CFDs. However, you cannot directly buy and own crypto tokens. |
| Spread | |
| 45.57 | Floating |
| Coins | |
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| Crypto Lending | |
| No | No |
| Crypto Mining | |
| No | No |
| Crypto Staking | |
| Yes | No |
| Auto Market Maker | |
| No | No |
| SimpleFX | FP Markets |
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