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FP Markets Review

FP Markets review

FP Markets is a trusted broker in Ghana with a trust score of 87%. The ease of use rating for FP Markets is four out of five. FP Markets offers powerful proprietary platforms and apps.

Updated : May 31, 2024

Jump to:

Overview

Regulation and Safety of Funds

Awards and Recognition

Account Types and Features

Account Registration

Broker Comparison

Trading Platforms

Range of Markets

Fees

Deposit and Withdrawals

Education and Research

Bonuses and Promotions

Affiliate Programs

Customer Support

Social Responsibility

Final Verdict

Pros and Cons

FAQ

Overall Rating

Min Deposit

USD 100

Regulators

ASIC, CySEC, FSCA, CMA

Trading Desk

MT4, MT5, Iress Trader, cTrader

Crypto

Yes

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

Overview

 

FP Markets is a prominent global trading firm that caters to the Ghanaian market, offering a range of services tailored to the dynamic economy.

The Australian brokerage firm is known for adhering to strict regulatory standards set by organizations like ASIC and CySEC, gaining the trust of traders worldwide.

 

Furthermore, FP Markets offers excellent trading conditions with access to over 10,000 financial instruments and industry-leading platforms like MetaTrader 4 and MetaTrader 5. Its user-friendly backend dashboard allows traders to monitor trades and manage funds easily.

FP Markets has earned numerous industry awards for its competitive pricing, wide range of trading instruments, and robust technological solutions.

 

In addition, FP Markets’ ability to support various financial instruments, including forex pairs relevant to Africa, and its multilingual support are standout features.

FP Markets also provides comprehensive educational resources to enhance the trading skills of its Ghanaian clients. As a reliable and technologically advanced player in the trading community, FP Markets is the preferred broker for Ghanaian traders seeking to navigate global markets effectively.

 

What distinguishes FP Markets from other brokers in Ghana?

FP Markets differentiates itself with a comprehensive portfolio of over 10,000 financial products, low spreads, and modern trading platforms geared to Ghanaian traders’ requirements.

 

How does FP Markets address the demands of Ghanaian traders?

FP Markets offers Ghanaian traders GHS deposit and withdrawal options, and multilingual customer service to ensure a smooth trading experience.

 

FP Markets at a Glance

📊 Year Founded2005
⚖️ RegulationASIC, CySEC, FSCA, FSA, FSC
🏛 Ease of Use Rating 4/5
💰 BonusesNo
🌎 Support Hours 24/7
📱 Trading PlatformsMetaTrader 4, MetaTrader 5, IRESS, cTrader, FP Markets App
📈 Account TypesStandard, Raw, Islamic Standard, Islamic Raw
💰 Base Currencies AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, USD, SGD
📊 Starting spreadFrom 0.0 pips
📊 Leverage 1:500
✔️ Currency Pairs Major, Minor, Exotic
💳 Minimum Deposit (GHS)865 GHS (AU$100)
📉 Inactivity Fee None
📱 Website Languages English, Arabic, German, Portuguese, Vietnamese, Indonesian, French, Malay, Italian, Russian
💰 Fees and Commissions Spreads from 0.0 pips, commissions from US$3 per side
✔️ Affiliate ProgramYes
🔎 Banned countriesUnited States, Japan, New Zealand
📉 Scalping Yes
📈 Hedging Yes
💻 Tradable AssetsForex, Shares, Metals, Commodities, Indices, Cryptocurrencies, Energies, ETFs, Bonds
👉 Open Account👉Open Account

Regulation and Safety of Funds

Regulation and Safety of Funds

 

Markets Regulation in Ghana

FP Markets is not regulated by the Bank of Ghana (BoG). However, FP Markets’ global regulations are listed in the table below.

 

FP Markets Global Regulations

📱Registered Entity 🌎Country of Registration ✔️Registration Number 🔎Regulatory Entity 📊Tier 💳License Number/Ref
First Prudential Markets Pty LtdAustralia ABN 16112600281ASIC1AFSL 286354
First Prudential Markets LtdCyprusHE372179CySEC2371/18
FP Markets (PTY) LTDSouth Africa2018/097037/07FSCA2FSP 50926
FP Markets LTDMauritius

FSC3GB21026264
First Prudential Markets LimitedSeychellesFSA3SD130

 

Protection of Client Funds

🔎Security Measure 📱Information
Segregated Accounts Yes
Compensation Fund Member Yes
Compensation Amount 20,000 EUR (Only European clients are eligible)
SSL Certificate Yes
2FA (Where Applicable) Yes
Privacy Policy in Place Yes
Risk Warning Provided Yes
Negative Balance Protection Yes
Guaranteed Stop-Loss Orders No

 

How does FP Markets protect its Ghanaian traders from scams and financial fraud?

FP Markets uses strong KYC and anti-money laundering (AML) protocols to reduce the likelihood of fraudulent activity.

 

As a Ghanaian customer of FP Markets, how safe is my financial and personal data?

Extremely safe. Protecting the privacy and security of Ghanaian clients’ financial and personal information is a top priority for FP Markets. FP Markets employs the best encryption technology and security measures to achieve this.

Awards and Recognition

Awards and Recognition

 

FP Markets has received numerous awards that highlight its strong position in the financial markets, including the following:

  • The company’s cutting-edge trading tools have received the prestigious “The Best Forex Trading Tools 2023” award from FxScouts, recognizing its state-of-the-art solutions for traders.
  • FP Markets received prestigious awards at the Ultimate Fintech categories APAC 2023, acknowledging their exceptional trade execution and unwavering commitment to transparency in the Asia-Pacific market.
  • FP Markets was recognized as the “Best CFD Broker in Africa” at the prestigious FAME Awards 2023, showcasing its impressive market presence in the region.
  • FP Markets received recognition at the Global Forex accolades 2023, winning “Best Value Broker – Global” for the fifth consecutive year. The company also received accolades for its European brokerage and Asian partnership program.
  • The company was recognized as the “Best Broker – Europe” and “Best Partners Programme – Asia,” highlighting its extensive global network and dedication to its partners.

FP Markets Account Types

FP Markets Account Types

 

💻 Live Account👉 Open Account📉 Minimum Dep.💰 Commissions💸 Leverage
➡️Standard👉Open Account865 GHSNone1:500
➡️Raw👉Open Account865 GHSUS$3 per side1:500
➡️Islamic Standard 👉Open Account865 GHSUS$3 per side1:500
➡️Islamic Raws 👉Open Account865 GHSNone1:500

 

Standard

Standard

 

The FP Markets Standard Account is designed for Ghanaian traders, offering a straightforward and efficient platform for exploring various financial instruments like forex, indices, and commodities without extra commission fees.

In addition, the account requires an initial deposit of 865 GHS, with spreads starting from 1 pip, making it accessible to many traders.

Additionally, it offers a leverage of up to 1:500, allowing traders to expand their trading capacity significantly compared to their initial investment.

 

Raw

Raw

 

The FP Markets Raw Account is a top choice for Ghanaian traders seeking accuracy and cost-efficiency.

This ECN Account offers tight spreads from 0.0 pips, making it ideal for high-volume traders and scalping strategies. With a modest commission of $3 per side per lot, it requires a minimum deposit of 865 GHS and offers leverage of up to 1:500, enabling efficient execution of complex strategies.

 

Islamic Standard

Islamic Standard

 

The FP Markets Islamic Standard Account is designed to cater to the needs of Muslim traders in Ghana, adhering to Sharia law. It eliminates swap or rollover interest on overnight positions, allowing traders to align their financial activities with their religious beliefs.

Furthermore, the account maintains competitiveness without compromising on Islamic principles, with a minimum deposit of 865 GHS, ensuring inclusivity for traders of all faiths.

 

Islamic Raw

The FP Markets Islamic Raw Account is designed for Ghanaian Muslim traders who adhere to Islamic finance principles and do not want swap charges.

The Islamic Account is an ECN option that charges 0.0 pips starting spreads and adheres to Islamic law ethical requirements.

Charged $3 per side per lot, the Islamic Raw Account caters to fast, accurate trading opportunities while honoring religious guidelines. This account is ideal for experienced traders using scalping strategies and Shariah finance regulations.

 

Demo Account

Demo Account

 

FP Markets offers a Demo Account for traders to practice trading without using actual capital. This risk-free environment is suitable for both novice and seasoned traders.

It provides an educational tool for Ghanaian users to familiarize themselves with FP Markets’ platforms and explore various financial instruments. With no deposit or verification documents required, it is an excellent starting point for practical trading experience.

 

Professional Account

The FP Markets Professional Account is designed for experienced Ghanaian traders who meet specific financial and experience criteria.

The Professional Account offers increased leverage options and exclusive features for sophisticated trading activities. Qualification is based on specific financial and experience thresholds, ensuring traders can navigate the high-risk environment with elevated leverage.

Furthermore, this account demonstrates FP Markets’ commitment to meeting the needs of professional traders in Ghana.

 

Are there any account limits or criteria for Ghana traders?

No, FP Markets places no limits on account types for Ghanaian traders, who can choose between Standard and Raw accounts according to their preferences and trading goals.

 

Are there any account opening fees or minimum deposits for Ghana traders?

FP Markets does not impose account starting fees. Ghanaian traders can begin trading with a minimal deposit requirement stipulated for each account type, allowing accessibility to traders of all skill levels.

How To Open an FP Markets Account step by step 

To register an account with FP Markets, follow these steps:

 

Step 1: “Start Trading” 

Visit the official FP Markets website; Ghanaian traders will see the “Start Trading” option highlighted.

Click the banner to start the process.

 

How To Open an FP Markets Account step 1

 

Step 2: Complete the registration form

Next, choose your desired account type, such as Standard or Raw, according to the platform you want to use.

Complete the registration form with personal information.

Choose an appropriate deposit method, such as bank transfers, credit/debit cards, cryptocurrency, or Mybux, which supports GHS deposits.

Specify the first deposit amount and ensure that the minimum threshold of 865 GHS is met.

Submit the relevant Know Your Customer (KYC) documents to meet regulatory requirements and ensure account verification.

Review and agree to FP Markets’ terms and conditions before submitting your application to create an account.

Upon acceptance, you will get login information allowing you to download, install, and configure the trading platform of your choice according to your registered account.

Before participating in live trading, use the FP Markets demo account to practice trading in a virtual environment before moving on to live trading.

When you are ready to trade live, choose your preferred financial instrument and utilize the platform to execute buy or sell orders, adjust position sizes (starting from 0.01 lots), and manage other trade-specific parameters, including market orders.

 

How To Open an FP Markets Account step 2

 

How To Open an FP Markets Account step 2

 

How do I open an account with FP Markets in Ghana?

Ghanaian traders can begin by visiting the FP Markets website, choosing the “Open Account” option, and following the prompts to complete the online application form with their personal information and trading preferences.

 

Is it easy for Ghanaian traders to open an account with FP Markets?

Yes, the account opening procedure with FP Markets is intended to be straightforward and user-friendly for Ghanaian traders, with clear instructions and prompts to guide them through each stage of the registration process.

Broker Comparison

🥇 FP Markets🥈 FXCM🥉 Vantage Markets
⚖️ RegulationCySEC, FSCA, ASIC, FSC, FSAFCA, ASIC, CySEC, FSCACIMA, VFSC, FSCA, ASIC
📱 Trading PlatformMetaTrader 4
MetaTrader 5
cTrader
IRESS
FP Markets App


Trading Station
MetaTrader 4
NinjaTrader
ZuluTrade
Capitalise AI
TradingView Pro
QuantConnect
MotiveWave
AgenaTrader
Sierra Chart
SeerTrading
NeuroShell Trader
MetaTrader 4
MetaTrader 5
ProTrader
Vantage App
Vantage Social trading
ZuluTrade
Myfxbook
AutoTrade
DupliTrade
💰 Withdrawal FeeYesYes, bank wireYes
📊 Demo AccountYesYesYes
📈 Minimum Deposit946 GHS (AU$100)673 GHS ($50)673 GHS ($50)
📊 Leverage1:500• 1:30 (FCA)
• 1:400 (Others)
1:500
📊 Spread0.0 pipsFrom 0.2 pips EUR/USDFrom 0.0 pips
💰 CommissionsFrom US$3Only the spread is chargedFrom $3
✴️ Margin Call/Stop-Out100%/50%100%/50%80%/50%
💻 Order ExecutionMarketMarketMarket
💳 No-Deposit BonusNoNoNo
📊 Cent AccountsNoNoNo
📈 Account TypesMT4/5 Standard Account
MT4/5 Raw Account
MT4/5 Islamic Standard Account
MT4/5 Islamic Raw Account


Active Trader
Professional Trader

PRO ECN
⚖️ BoG RegulationNoNoNo
💳 GHS DepositsNoNoNo
📊 Ghana Cedi AccountNoNoNo
👥 Customer Service Hours24/724/524/5
📊 Retail Investor Accounts413
☪️ Islamic AccountYesYesYes
📉 Minimum Trade Size0.01 lots0.01 lots0.01 lots
📈 Maximum Trade Size50 lots50 million per trade on Forex100 lots
💰 Minimum Withdrawal TimeInstantInstantInstant
📊 Maximum Estimated Withdrawal TimeUp to 10 working daysUp to 2 working days3 – 5 working days
💸 Instant Deposits and Instant Withdrawals?YesYesYes

FP Markets Trading Platforms and Software

FP Markets Trading Platforms and Software

 

FP Markets App

The FP Markets App is designed for Ghanaian traders constantly traveling, offering a user-friendly experience on mobile devices.

It integrates all the powerful features of FP Markets, including advanced order types like pending and stop orders, which are crucial for executing trading strategies in Ghana’s fast-paced market.

In addition, the FP Markets app’s interface allows traders to monitor their accounts, manage trades in real time, and track margin levels and performance indicators.

With competitive spreads and the option to leverage trades up to 1:500, Ghanaians can quickly respond to market changes and optimize their strategies.

 

IRESS

IRESS is a Ghanaian platform for traders interested in financial instruments, including forex, shares, and CFDs. It offers a real-time news service for instant information about Asian markets and a powerful portfolio management tool for real-time profit and loss tracking.

In addition, IRESS provides a transparent trading environment, aligning with FP Markets’ commitment to offering access to a wide range of financial instruments.

Furthermore, IRESS’ direct market access ensures that Ghanaian traders can find everything they need in one place, providing a comprehensive trading experience.

 

MetaTrader 4

MT4 caters to Ghanaian traders with its robust market analysis tools and customizable indicators, providing a rich trading environment. FP Markets’ collaboration with MT4 offers deep liquidity and precise pricing, enabling quick trade execution.

The platform’s compatibility with FP Markets’ superior trading conditions, including multiple base currencies and flexible leverage options, ensures Ghanaian traders have a solid foundation for trading across the broker’s wide range of instruments.

 

MetaTrader 5

MetaTrader 5 is a robust trading platform designed for experienced traders in Ghana, offering a more advanced experience with more trading options and tools.

FP Markets MT5’s advanced trading system and algorithms and built-in market depth functionality are well-suited to FP Markets’ tight spreads and high liquidity environment.

In addition, the platform’s multi-asset offering allows for thorough market analysis and trade execution across various financial instruments, making it valuable for Ghanaians to implement diverse trading strategies that match FP Markets’ conditions.

 

cTrader

FP Markets’ cTrader is known for its excellent charting and order execution capabilities, making it popular among professional traders in Ghana. It offers Level II pricing, full market depth, and greater price transparency, making it ideal for those using complex trading strategies.

FP Markets also offers raw spreads from 0.0 pips, allowing traders to execute trades at the best possible prices. The platform’s advanced charting features and extensive back-testing environment enable traders to refine their trading tactics.

 

Can I trade on FP Markets using mobile devices like smartphones and tablets?

Yes, FP Markets provides mobile trading capabilities via specialized programs for Android and iOS smartphones, allowing Ghanaian traders to access their accounts while traveling.

 

Does FP Markets provide any native trading platforms for Ghana traders?

While FP Markets primarily supplies third-party platforms such as MT4 and MT5, it also gives access to sophisticated tools and features via its unique platform, IRESS, which improves the trading experience for Ghanaian traders through creative technology and functionality.

Trading Instruments & Products

Trading Instruments & Products

 

FP Markets offers the following trading instruments and products:

  • Indices – FP Markets offers Ghanaian traders 17 global indices to predict market movements across major shares from foreign exchanges. These indicators display the combined performance of leading enterprises, providing Ghanaians with insights into the economic health of various regions.
  • Agricultural Commodities – Ghanaian traders can engage in five agricultural commodities markets through FP Markets, including coffee and sugar, which are sensitive to seasonal and geopolitical shifts, offering diverse trading opportunities.
  • Forex – FP Markets provides Ghanaian traders with over 60 pairings covering major, minor, and exotic currencies, allowing them to trade various trading methods and preferences, including the popular EUR/USD pair.
  • Cryptocurrencies – FP Markets introduces Ghanaians to the digital currency world by offering 11 trading options for cryptocurrencies like Bitcoin and Ethereum, allowing traders to capitalize on their high volatility and potential development.
  • Energies – Ghanaian traders can engage in four energy commodities markets via FP Markets, including the crucial oil and natural gas industries, which are critical to the global economy and volatile due to geopolitical and environmental concerns.
  • Shares – FP Markets allows Ghanaian traders to trade over 10,000 DMA and 1,000 MetaTrader shares, enabling them to invest in various industries and locations directly.
  • Bonds – Ghanaian investors can trade two types of bonds through FP Markets, diversifying into stable debt instruments compared to unpredictable equities markets.
  • Metals – FP Markets enables traders to trade gold and silver, considered safe-haven investments, which can protect Ghanaians from inflation and currency depreciation, thereby strengthening investment portfolios.

 

Can Ghana traders trade cryptocurrency on FP Markets?

Yes, Ghanaian traders can trade cryptocurrencies on FP Markets, including major digital assets like Bitcoin, Ethereum, Litecoin, and Ripple, allowing them to participate in the dynamic cryptocurrency markets.

 

Does FP Markets allow Ghanaian traders to trade exotic currency pairs?

Yes, FP Markets provides access to many currency pairings, including exotic pairs, allowing Ghanaian traders to take advantage of varied trading possibilities and potentially profit from currency market volatility.

Spreads and Fees

Spreads and Fees

 

Spreads

Due to its competitive spreads, FP Markets is a prominent broker in Ghana’s trading scene. The Standard Account offers spreads starting at 1 pip for major forex pairs, making it suitable for various trading strategies.

The Raw Account offers tighter spreads from 0.0 pips, perfect for high-volume traders and scalpers. These low spreads, combined with deep liquidity and fast execution, provide a cost-effective solution for Ghanaian traders, aligning with the broker’s goal of providing superior trading conditions.

 

Commissions

FP Markets offers a transparent pricing model with commissions, catering to various trading styles. For Ghanaian traders using the Raw Account, the broker charges $3 per side for each standard lot traded.

Furthermore, this fee structure is crucial for scalpers and day traders who need to know their trading costs upfront.

 

Overnight Fees

FP Markets provides competitive overnight fees based on interbank interest rates for forex trades and underlying costs for other financial instruments. These fees are crucial for traders planning long-term positions, as they can affect the profitability of trades held beyond daily closing times.

 

Deposit and Withdrawal Fees

FP Markets offers a trader-friendly approach by not charging fees for deposits, benefiting Ghanaian traders without additional charges.

While withdrawal fees may apply depending on the chosen method, FP Markets aims to keep these fees minimal, ensuring transparent and cost-effective banking transactions for traders in Ghana.

 

Inactivity Fees

FP Markets offers Ghanaian traders flexibility by not imposing inactivity fees, which benefits long-term investors or intermittent traders.

Moreover, this flexibility allows them to avoid accumulating costs during inactive periods, making it a suitable choice for various trading activities, demonstrating FP Markets’ understanding of traders’ needs.

 

Currency Conversion Fees

FP Markets charges currency conversion fees when traders transact in a different currency than their account’s base currency. These fees are calculated based on market exchange rates, impacting transaction profitability.

However, the broker offers accounts in Ghanaian GHS, allowing Ghanaian traders to deposit and withdraw funds in their local currency, reducing conversion fees associated with common base currencies like USD or EUR.

 

What are the typical spreads that Ghanaians can expect from FP Markets?

FP Markets provides cheap spreads across a wide range of financial instruments, with spreads as low as 0.0 pips on some accounts and markets, giving Ghanaian traders cost-effective trading alternatives.

 

What hidden fees or expenses should Ghanaian traders know about when dealing with FP Markets?

No, FP Markets is devoted to transparency and does not impose hidden fees or charges on Ghanaian traders, allowing them to trade confidently, knowing the full extent of their trading costs up front.

FP Markets Deposit & Withdrawal Options

FP Markets Deposit & Withdrawal Options

 

💳 Payment Method🌎 Country 💴Currencies Accepted ⏱️Processing Time
💰 Credit/Debit Card All AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD, CZK, PLN, AEDInstant – 10 days
💳 Bank TransferAllAUD, USD, EUR, GBP, SGD, CAD1 day
🪙 Neteller All AUD, CAD, CHF, EUR, GBP, JPY, INR, BRL, SGD, USDInstant – 1 day
💸 SkrillAll AUD, CAD, EUR, GBP, INR, USD, BRLInstant – 1 day
🪙 Asia Banks All MYR, IDR, VNDInstant
💳SticPayAllJPY, EUR, GBP, USD, HKD, TWD, KRW, SGDInstant – 2 days
🪙FasaPayAllUSD, IDRInstant – 1 day
💸Virtual PayAllKES, UGX, TSHInstant – 1 day
💳Rupee PaymentsAllINRInstant – 2 days
💸RapydAllBRL, MXN, COP, CLPInstant – 2 days
🪙Perfect MoneyAllUSDInstant – 1 day
💳PagsmileAllBRL, CLP, COP, PEN, MXN, USDInstant – 1 day
💸CryptocurrenciesAllADA, BCH, BTC, DASH, ETH, LTC, PAX, XRP, TUSD, USDC (ERC20), USDT (ERC20), USDT (TRC20), ZEC1 hour – 1 day
💰DragonpayAllPHPInstant – 1 day
💳Rapid TransferAllEUR, DKK, SEK, HUF, GBP, PLN, NOKInstant
💰Crypto Payments (Finrax)AllBTC, BCH, LTC, ETH (ERC20), USDT (ERC20), XLM, LINK (ERC20), XRP, USDT (TRC20), USDT (BEP20), USDC (ERC20), USDC (TRC20), USDC (BEP20)1 hour – 1 day
🪙MybuxAllZAR, GHS, NGN, RHF, XOF, XAF, NAD, ZMW, TZSInstant
💰XPAYAllIDR, MYR, THB, VNDInstant – 1 day

 

Deposits

How to Deposit using Bank Wire Step by Step

✅To deposit via bank wire, log into your FP Markets trading account and go to the ‘Funds Management’ or ‘Deposits’ area.

✅Choose ‘Bank Wire’ as your desired deposit method and provide the deposit amount. Note that GHS deposits will be converted automatically.

✅Enter the relevant banking information, including your bank’s information and the amount you want to deposit.

✅Confirm the banking information and receive the bank wiring instructions from FP Markets.

✅Proceed to your online banking website and enter the information you obtained from FP Markets to conduct the transfer.

✅Keep a copy of the transaction receipt from your bank as proof of transfer.

 

How to Deposit using Credit or Debit Card Step by Step

✅To deposit using a credit or debit card, navigate to the deposit area on your FP Markets account dashboard.

✅Choose the ‘Credit/Debit Card’ deposit method.

✅Enter your card information, including the number, expiration date, and CVV/CVC code.

✅Specify the deposit amount.

✅Confirm the transaction and complete any extra verification requested by your bank.

✅After the transaction is successfully verified, the deposit will be instantly reflected in your FP Markets account.

 

How to Deposit using Cryptocurrency Step by Step

✅To deposit using a cryptocurrency wallet, go to your FP Markets account’s ‘Deposits’ section and choose ‘Cryptocurrency’ as your deposit method.

✅Select the coin you plan to deposit with.

✅The platform will produce a unique deposit address; carefully copy it.

✅Open your cryptocurrency wallet, make a transfer, and include the FP Markets deposit address as the beneficiary.

✅Confirm the transfer amount and complete the transaction.

 

How to Deposit using e-Wallets or Payment Gateways Step by Step

✅Sign into your FP Markets account and navigate to the ‘Deposit’ area.

✅Select ‘E-Wallet’ or your favorite payment gateway, such as Mybux, from the list of deposit options.

✅Enter the amount you desire to deposit in GHS, ensuring it matches the minimum requirements.

✅To finish the deposit procedure, you will be transferred to the interface of your e-wallet or payment gateway.

✅Confirm the transaction information and make the deposit, which is usually quick.

 

Withdrawals

How to Withdraw using Bank Wire Step by Step

✅To withdraw funds via bank wire, navigate to the ‘Withdraw’ option in the FP Markets client area.

✅Select ‘Bank Wire’ as your method of withdrawal.

✅Fill out the withdrawal form with your banking information and the amount you want to withdraw.

✅Submit your withdrawal request and wait for FP Markets to process the transaction.

 

How to Withdraw using Credit or Debit Cards Step by Step

✅To withdraw using a credit or debit card, go to the withdrawal section in your FP Markets client area.

✅Choose ‘Credit/Debit Card’ as the mode of withdrawal.

✅Enter the amount you wish to withdraw, ensuring it does not exceed the sum available.

✅Provide the relevant card information matching the card used for prior deposits.

✅Submit your request.

 

How to Withdraw using Cryptocurrency Step by Step

✅To withdraw using cryptocurrency wallets, navigate to the ‘Withdraw’ option in your FP Markets client area.

✅Select ‘Cryptocurrency’ as your desired withdrawal method and enter your wallet address.

✅Specify the amount you want to withdraw and double-check all of the data.

✅Confirm and submit your withdrawal request.

 

How to Withdraw using e-Wallets or Payment Gateways Step by Step

✅Navigate to the ‘Withdrawal’ section of your FP Markets client portal.

✅Select your e-wallet or a specific service like Mybux from the withdrawal possibilities.

✅Enter a withdrawal amount that is within the restrictions of your available balance.

✅Confirm the withdrawal information and submit the request.

 

Is there a deposit fee paid by FP Markets for Ghana traders?

No, FP Markets does not impose deposit fees on Ghanaian traders, allowing them to finance their trading accounts without incurring additional costs.

 

How long does it take for deposits to appear in the trading accounts of Ghanaian traders?

FP Markets normally processes deposits made by Ghanaian traders quickly, with local methods like Mybux allowing rapid financing, assuring traders can start trading immediately.

Leverage and Margin 

FP Markets offers a flexible leverage system for Ghanaian traders, allowing them to maximize their potential profits with modest initial investments.

FP Markets provides leverage of up to 1:500 for forex and precious metals, requiring a solid understanding of risk management to protect against potential losses.

The broker also tailors its margin requirements to different financial instruments, with leverage reaching up to 1:200 for indices, energy, and agricultural commodities.

For equities trading, FP Markets sets a maximum leverage of 1:20, aligning with the risk and liquidity features of stock trading. FP Markets adopts a more conservative leverage ratio of 1:5 in cryptocurrency trading, promoting responsible trading practices due to the market’s high volatility.

Overall, FP Markets’ leverage and margin strategy aims to equip Ghanaians with effective tools while supporting sustainable trading practices.

 

What leverage levels do FP Markets provide to Ghana traders?

FP Markets provides Ghanaian traders with extensive leverage choices, with ratios ranging from 1:1 to 500:1 depending on the trading instrument and account type. This allows them to optimize their capital efficiency based on risk tolerance and trading tactics.

 

Are there any leverage limitations for Ghanaian traders on the FP Markets platforms?

Yes, FP Markets follows regulatory rules and can apply leverage limitations on certain trading products or accounts for Ghanaian traders to promote responsible trading practices and reduce excessive risk exposure, resulting in a safe trading environment.

10 Best Forex Brokers in Ghana for 2024

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

4.4/5

User Score

#2

4.7/5

User Score

#3

4.5/5

User Score

#4

4.4/5

User Score

#5

4.7/5

User Score

#6

4.6/5

User Score

#7

4.7/5

User Score

#8

4.8/5

User Score

#9

4.8/5

User Score

#10

4.7/5

User Score

Educational Resources 

Educational Resources 

 

Trading Knowledge

The Trading Knowledge section provides a comprehensive understanding of trading concepts for Ghanaian traders, enabling them to navigate markets confidently.

It covers various topics, complementing FP Markets’ diverse options, from forex to complex instruments, and equipping traders with the necessary knowledge.

 

Trader’s Hub

FP Markets’ Trader’s Hub offers Ghanaian traders a comprehensive educational resource, including webinars, eBooks, and learning resources, to enhance their understanding of the broker’s markets and instruments.

Furthermore, the Hub covers topics from basic principles to advanced trading strategies, providing relevant knowledge for all levels of traders.

 

Technical Analysis

FP Markets provides Ghanaian traders with several technical analysis resources, enabling them to analyze market trends and price movements.

Through video tutorials and webinars, traders learn about technical indicators and chart patterns, ensuring they can confidently navigate FP Markets’ offerings.

 

Forex Calculator

FP Markets’ Forex Calculator is a crucial tool for Ghanaian traders, providing precise calculations for forex trades. It simplifies determining trade outcomes by considering pip value, swap rates, and margin. This tool is particularly useful in Ghana’s growing forex trading scene.

 

Traders Hub Blog

The Traders Hub Blog is a crucial resource for Ghanaian traders, regularly updating market trends, strategies, and financial news.

The Hub Blog offers insights into trading nuances, making it a vital source of information for staying competitive in the ever-changing trading landscape.

 

Fundamental Analysis

FP Markets provides fundamental analysis services to Ghanaian traders, helping them evaluate economic indicators and their impact on markets, particularly in forex and commodities markets, and understanding how global economic news influences their trading decisions.

 

Economic Calendar

FP Markets’ Economic Calendar provides real-time updates on economic events affecting market volatility, aiding Ghanaian traders in strategically planning trades and adjusting strategies on their platforms, thereby enabling them to anticipate market movements.

 

What educational materials do FP Markets provide to Ghana traders?

FP Markets offers a wide range of educational tools specialized to Ghanaian traders, including articles, tutorials, webinars, video courses, and market analysis, providing traders with knowledge and insights to help them improve their trading abilities and decision-making.

 

Are FP Markets’ teaching resources suitable for beginner and experienced Ghanaian traders?

Yes, FP Markets’ educational materials are suitable for traders of all experience levels in Ghana, with beginner-friendly resources covering fundamental concepts and advanced topics such as technical analysis, risk management, and trading strategies.

Bonuses and Promotions

FP Markets compensates for the lack of direct trading bonuses in Ghana by offering a unique affiliate program that focuses on offering cashback rebates.

The program’s appealing elements—a $200 CPA commission and a $1.25 rebate for each lot traded—impressed us.

 

FP Markets uses robust real-time monitoring technology to let affiliates in Ghana keep an eye on the trading activity of their clients. This openness facilitates efficient tracking of affiliate revenues and rebates.

We also found that fast commission pay-outs are a program feature that especially helps Introducing Brokers (IBs). In addition, another benefit is that as clients’ trading volumes increase, so do the rebates that IBs in Ghana can earn.

According to what we found, we believe that the cashback rebates program can lower trading expenses, which helps Ghanaian traders as well as affiliates.

How to Register an Affiliate Account with FP Markets Step-by-Step

We explored the process of registering an Affiliate Account with FP Markets, allowing us to detail the steps for Ghanaians interested in partnering with a flexible and reputable brand.

 

Step 1 : “Partners” 

Visit the FP Markets website and select the “Partners” option, which is conveniently positioned between “Platforms” and “Resources.”

Explore the affiliate page extensively to become acquainted with the program’s features and benefits.

 

How to Register an Affiliate Account with FP Markets Step 1

 

Step 2: “Start Trading.”

To begin the registration process, click “Start Trading.”

 

How to Register an Affiliate Account with FP Markets Step 2

 

Step 3: “Submit” 

Enter your personal information, such as your full name, email address, and phone number. You might also be required to enter information regarding the website or platform where you intend to promote FP Markets.

Choose “Ghana” as your country of residence to tailor the program to your needs.

Select “Affiliate” as your preferred relationship type, indicating your interest in marketing FP Markets’ services.

To protect your account and personal information, create a unique password.

Accept the affiliate program’s terms and conditions, acknowledging that you understand the partnership agreement.

Click “Submit” to complete your registration and start your profitable affiliate adventure with FP Markets.

 

How to Register an Affiliate Account with FP Markets Step 3

 

How to Register an Affiliate Account with FP Markets Step 3

 

Affiliate Programs

Features

For Ghana’s expanding group of online entrepreneurs, the affiliate program provided by FP Markets presents a profitable opportunity to generate income.

With the fast and easy payments and a generous multi-tier commission structure, there is a clear path to profitability.

We also found that the wide range of multilingual marketing tools caters to Ghana’s diverse linguistic landscape. At the same time, the program’s emphasis on high-converting landing pages aligns with the increasing digital marketing trends in the country.

 

How much money can FP Markets affiliates make in Ghana?

This will depend on factors such as the affiliate’s tier level, the referred client’s trading volume, and the type of account the referred client uses. We found that, typically, commission rates are more enticing on higher tiers.

 

Are there any criteria for becoming an FP Markets affiliate in Ghana?

No. There are no specific prerequisites to join FP Markets as an affiliate in Ghana. Anyone can join and begin referring clients to earn money. This includes individuals, bloggers, website owners, and corporations.

Customer Support

Customer Support

 

Customer SupportFP Markets Customer Support
⏰ Operating Hours24/7
👛 EmailYes
🗣 Support LanguagesMultilingual
🗯 Live ChatYes
☎️ Telephonic SupportYes
✔️The overall quality of FP Markets Support4/5

 

Does FP Markets provide multilingual customer service to Ghanaian customers?

Yes, clients from various linguistic backgrounds are welcome at FP Markets, and although English is the primary language of service, other languages are available upon request.

 

Does FP Markets provide specific support to high-value or VIP customers in Ghana?

Yes, FP Markets provides VIP clients in Ghana individual account managers and personalized support, guaranteeing priority assistance and a trading experience that is uniquely suited to their needs.

FP Markets Social Responsibility

The FP Markets website does not have a specific section that offers information on their participation in CSR projects or campaigns.

In our experience, the absence of information could imply that FP Markets has not yet made any specific pledges. Alternatively, it might mean that CSR initiatives they are involved in just aren’t published on the website.

Pros & Cons

✅ Pros❌ Cons
Ghanaians do not face any internal deposit fees with FP MarketsFP Markets charges withdrawal fees
FP Markets offers a decent range of educational materials and resources to beginners Ghanaians cannot register a GHS-denominated account with FP MarketsGhanaians cannot register a GHS-denominated account with FP Markets
There are over 10,000 instruments that can be tradedFP Markets is not locally regulated in Ghana
FP Markets’ account types are unique and cater to different Ghanaian tradersHFM only offers free deposits for amounts over $100
There are multiple robust platforms to choose from, including IRESSThe platforms offered might be too complex for beginners and present a learning curve

FP Markets Security Measures

FP Markets is a global broker that prioritizes the safety and security of its traders in Ghana.

Despite not being regulated locally, the broker adheres to international regulatory standards set by bodies like the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority (FSCA) in South Africa, and the Financial Services Authority (FSA) in Seychelles.

Furthermore, FP Markets’ approach to trader security includes segregating client funds from the company’s operational capital, using advanced encryption technologies to protect personal and financial data, and implementing two-factor authentication (2FA) for additional protection.

FP Markets also participates in a compensation fund, providing financial protection to eligible clients in areas where local regulation may not exist.

In addition, FP Markets also emphasizes transparency and trust by adhering to corporate governance standards, such as conducting regular financial audits and providing detailed account statements.

Overall, these practices ensure integrity and accountability, essential qualities for Ghanaian traders in the global financial markets.

 

 

FP Markets User Comments and Reviews

FP Markets serves global traders, and we went through some of the most recent user comments and reviews to find the top three:

  • “FP Markets’ instructional materials are fantastic. Thanks to their really helpful webinars and e-books, I’ve been able to significantly enhance my trading abilities.”
  • “Withdrawing funds from your FP Markets account is a snap. What really sells it for me is how quick and easy it is.”
  • “For seasoned traders like myself, FP Markets’ huge leverage is a godsend. But it’s not something I’d suggest to someone just starting.”

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Conclusion

After our in-depth evaluation of FP Markets, we can conclude that FP Markets is a reliable forex and CFD trading platform in Ghana.

This is because FP Markets adheres to strict regulatory standards set by global authorities like ASIC and CySEC, ensuring the legitimacy and safety of traders’ investments.

However, our findings indicate that due to the lack of local regulation, traders should conduct thorough research before engaging with the platform.

Furthermore, FP Markets offers competitive spreads and no deposit or inactivity fees, catering to active and passive traders. It offers leverage options of up to 1:500 on forex and precious metals, providing significant market exposure.

However, higher leverage also increases risk, necessitating careful risk management strategies. The platform offers educational resources and trading tools for beginners and experienced traders but may seem overwhelming for Ghanaian beginners.

In addition, despite potential drawbacks like withdrawal fees and currency conversion charges, the overall trading environment, robust security measures, and diverse financial instruments make it an attractive option for Ghanaian traders to tap into markets while managing associated risks.

Our Insight

According to my findings,  FP Markets is a strong contender in brokerage, known for being reliable, transparent, and for offering comprehensive services; making it a commendable pick for a trader looking for well rounded trading environment.

Our Recommendations on FP Markets

 While we believe that FP Markets can be a suitable option for most traders, there are some areas where the broker can improve its offer for Ghanaians, including the following:

  • Mobile trading systems should be optimized by FP Markets to provide smooth and user-friendly experiences, considering the increased mobile usage in Ghana. This involves making sure the app works better on lesser bandwidth, which is typical in many regions of Ghana, and improving its usefulness.
  • Local traders would benefit from streamlined operations and reduced transaction costs if the Ghanaian cedi served as the base currency for trading accounts.
  • The increasing interest in financial markets in Ghana presents an opportunity for FP Markets to cooperate with local educational institutions to educate future traders on forex trading through seminars and workshops.

Frequently Asked Questions

Are there any trading limits on FP Markets for Ghanaian traders?

No, FP Markets provides liberal trading conditions with few limitations, allowing Ghanaian traders to engage in scalping, hedging, and using Expert Advisors (EAs).

 

What is FP Markets’ minimum deposit?

The minimum deposit to start with FP Markets is 864 GHS (AU$100).

 

What customer support options do FP Markets provide to Ghanaian traders?

FP Markets offers multilingual customer service via live chat, email, and phone, ensuring that traders in Ghana receive quick assistance and support with their trading needs.

 

Where is FP Markets based?

FP Markets is headquartered in Australia and has offices globally.

 

Are there any Ghana-specific deposit/withdrawal methods accessible on FP Markets?

Yes, there are. Ghanaians can utilize Mybux, which supports GHS as a deposit and withdrawal currency.

 

Is FP Markets a safe broker?

Yes, FP Markets is a safe broker for Ghanaians despite its lack of local regulation. Instead, FP Markets is regulated globally by top entities like ASIC, CySEC, and others.

 

Can Ghanaian traders use local deposit methods to finance their FP Markets accounts?

Yes, Ghanaians can make GHS deposits using Mybux. However, their funds will be converted to match the account’s base currency, leading to conversion fees.

 

What can I trade with FP Markets?

You can trade a range of markets, including commodities, crypto CFDs, stocks, forex, commodities, and more. However, FP Markets does not feature any local share CFDs from Ghana.

 

Can I trade FX with FP Markets from Ghana?

Yes, you can trade major, minor, and exotic currency pairs using FP Markets. However, GHS does not appear in any of these pairings.

 

How long does FP Markets’ withdrawal take?

Withdrawals are processed within a day but can take several days to reach Ghanaian bank accounts due to internal processing procedures. However, local methods like Mybux are typically instant.

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