FP Markets Review
Overall, FP Markets is a reliable multi-regulated broker with no-commission trading and tight spreads. It has over 50 000 active Tanzanian traders and has a verified trust score of 81% out of 100. FP Markets is considered a trustworthy and reliable broker. FP Markets is currently not regulated by the Bank of Tanzania.
- Lesche Duvenage
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Trading Platforms
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.9/5
Min Deposit
USD 100 / 233 174 TZS
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 Review – 23 key points quick overview:
- ✅ FP Markets Overview
- ✅ FP Markets At a Glance
- ✅ FP Markets Regulation and Safety of Funds
- FP Markets Awards and Recognition
- FP Markets Account Types and Features
- How to open an Account with FP Markets in Tanzania
- FP Markets Vs LiteFinance Vs Fidelity Investments – Broker Comparison
- FP Markets Trading Platforms
- FP Markets Range of Markets
- Broker Comparison for Range of Markets
- FP Markets Trading and Non-Trading Fees
- FP Markets Deposits and Withdrawals
- How to Deposit Funds with FP Markets
- FP Markets Fund Withdrawal Process
- FP Markets Education and Research
- FP Markets Bonuses and Promotions
- How to open an Affiliate Account with FP Markets
- FP Markets Affiliate Program Features
- FP Markets Customer Support
- FP Markets Corporate Social Responsibility
- Our Verdict on FP Markets
- FP Market Pros and Cons
- FAQ
FP 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.
👉 FP Markets accepts Tanzanian clients and has an average spread from 0.0 pips with US$6 commission round turn ($3 per side). FP Markets has a maximum leverage ratio up to 1:500 and there is a demo and Islamic account available. MT4, MT5, Myfxbook, FP Markets platforms are supported. FP Markets is headquartered in Australia and is regulated by ASIC and CySEC as well as the CMA.
👉 FP Markets (Pty) Ltd is a Financial Services Provider authorized and regulated by the Financial Sector Conduct Authority in South Africa (FSP Number 50926).
👉 Since its inception in 2005, FP Markets has grown to become one of the most well-known forex brokers in the world, catering to both institutional and retail investors.
👉 Barclays, HSBC, RBS, Credit Suisse, J.P. Morgan, Goldman Sachs, Commerzbank, Standard Chartered, Citibank, and BNP Paribas are FP Markets’ Liquidity Providers (LPs). Having more LP prices pooled together implies you can execute your transactions at better pricing. In contrast to a market maker who sets their own pricing, this method is more efficient.
👉 Many accolades have been bestowed upon the firm for its ability to execute trades quickly, as well as for its dedication to providing excellent customer service. the Best Global Forex Value Broker Award, as well as Best Customer Service and Best Trade Execution for CFD Providers.
👉 This FP Markets review for Tanzania will provide local retail traders with the details that they need to consider whether FP Markets is suited to their unique trading objectives and needs.
FP Markets Distribution of Traders
👉 FP Markets currently has the largest market share in these countries:
➡️ Italy – 12.2%
➡️ Australia – 10.3%
➡️ India – 7.7%
➡️ Bahamas – 6.5%
➡️ United Kingdom – 6.1%
Popularity among traders who choose FP Markets
🥇 Despite not having a strong presence in the Tanzanian forex market, FP Markets is listed among the top 40 forex brokers for Tanzanian traders.
FP Markets At a Glance
| 🏛 Headquartered | Australia |
| 🏙 Global Offices | Australia and Cyprus |
| 🌃 Local Market Regulator in Tanzania | Bank of Tanzania (BoT) |
| ✅ Foreign Direct Investment in Tanzania | $0.99B in 2019 |
| ✔️ Foreign Exchange Reserves in Tanzania | 6.714 billion US dollars in 2021 |
| 🏛 Local office in Dodoma? | No |
| ✅ Governor of SEC in Tanzania | None, Benno Ndulu is the Central Bank Governor in Tanzania |
| ✔️ Accepts Tanzanian Traders? | Yes |
| 🗓 Year Founded | 2005 |
| 📞 Tanzanian Traders 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 |
| ⚖️ BoT Regulation | None |
| 💸 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 TZS Account? | No |
| ✔️ Dedicated Tanzanian Traders Account Manager? | No |
| ⬆️ Maximum Leverage | 1:500 |
| 📈 Leverage Restrictions for Tanzania? | No |
| 📉 Minimum Deposit (TZS) | 160,000 TZS or an equivalent to AU$100 |
| 💵 Tanzanian Shilling Deposits Allowed? | Yes |
| 📱 Active Tanzanian Trader Stats | 250,000+ |
| 👥 Active Tanzanian-based FP Markets customers | Unknown |
| 🔄 Tanzania 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 Tanzanian 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/TZS currency pair? | No |
| 📊 USD/TZS Average Spread | N/A |
| ✅ Offers Tanzanian 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 |
| 📞 Tanzanian-based customer support? | No |
| 💵 Bonuses and Promotions for Tanzanian Traders | Yes |
| 📚 Education for Tanzania beginner traders | Yes |
| 📱 Proprietary trading software | Yes |
| 🗣 Most Successful Tanzanian Trader | Unknown |
| ✅ Is FP Markets a safe broker for Tanzanian Traders? | Yes |
| ✔️ Rating for FP Markets Tanzania | 9/10 |
| 🥇 Trust score for FP Markets Tanzania | 81% |
| 👉 Open An Account | 👉 Open Account |
FP Markets Regulation and Safety of Funds
FP Markets Regulation in Tanzania
👉 FP Markets is not regulated by any local authorities in Tanzania but has the authorizations and cross-border licenses from other entities, allowing FP Markets to service Tanzania.
FP Markets Global Regulations
👉 The Australian Securities and Investments Commission (ASIC) authorizes and regulates First Prudential Markets Pty Ltd, whilst the Cyprus Securities and Exchange Commission (CySEC) authorizes and regulates First Prudential Markets Ltd.
FP Markets Client Fund Security and Safety Features
👉 Protections are provided by ASIC and CySEC-licensed FP Markets firms in Cyprus and Australia. Because they are the most stringent regulators, they are referred to as Tier-1 and Tier-2, respectively.
👉 Both ASIC and CySEC require brokers to separate client money from their own and to provide a negative balance protection insurance as a legal obligation. In terms of security, CySEC and ASIC regulated brokers are the best. Negative balance protection and segregation of client money are mandated by law for these financial services providers.
👉 A negative balance protection policy ensures that even if the market moves swiftly or goes against you, you will not lose more than the sum in your account. With segregated accounts, brokers cannot use your money to operate their business if they must keep client funds segregated from operational cash.
👉 While FP Markets is not a publicly traded corporation, the Tier-1, and Tier-2 regulations of certain of its operating entities contribute to the firm’s stability. In terms of transparency, there is a great deal of information on the history of FP Markets, its employees, and its location. In addition, the website also gives comprehensive fee schedules.
FP Markets Awards and Recognition
👉 FP Markets Awards: Best Global Forex Value Broker, Best Forex Broker Australia, Outstanding Value CFD Provider, Best Forex Partners Programme in Asia, Best Education Material, Most Satisfied Traders
FP Markets Account Types and Features
👉 FP Markets provides Tanzanian traders with a selection of four live trading accounts, each of which is designed to the needs of a certain kind of trader with varying levels of trading competence. These are the account types:
➡️ 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 | 160,000 TZS or 100 AUD | 1 pip | None | 10 USD |
| ➡️ Raw | 160,000 TZS or 100 AUD | 0.0 pips | US$3 per side | 7 USD |
| ➡️ Islamic Standard | 160,000 TZS or 100 AUD | 1 pip | None | 10 USD |
| ➡️ Islamic Raw | 160,000 TZS or 100 AUD | 0.0 pips | US$3 per side | 7 USD |
FP Markets Live Trading Accounts
MT4/5 Standard Account
👉 This is an entry-level and basic account type that suits the trading needs and objectives of most Tanzanian traders, regardless of their trading experience or unique trading styles. The features that traders can expect from the MT4/5 Standard Account are as follows:
| Account Feature | Value |
| 💰 Minimum Deposit | 160,000 TZS or an equivalent to AU$100 |
| 📈 Average spread | Floating, from 1 pip |
| 🔨 Instruments Available | • 60+ Forex pairs • Precious 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
👉 The MT 4/5 Raw Account is distinguishable from its zero-pip spreads, competitive commissions, and range of features offered, including the following:
| Account Feature | Value |
| 💰 Minimum Deposit | 160,000 TZS or an equivalent to AU$100 |
| 📈 Average spread | Variable, from 0.0 pips |
| 🔨 Instruments Available | • 60+ Forex pairs • Precious 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 is a normal and basic account built exclusively for Muslim traders in Tanzania, giving them access to competitive trading conditions and a choice of trading strategies and instruments.
| Account Feature | Value |
| 💰 Minimum Deposit | 160,000 TZS or an equivalent to AU$100 |
| 📈 Average spread | Variable, from 1 pip |
| 🔨 Instruments Available | • 60+ Forex pairs • Precious 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
👉 The Raw Account offers the best transaction execution for Muslim traders, making it ideal for high-frequency traders, day traders, algorithmic traders, and other professional traders who desire to avoid overnight fees.
| Account Feature | Value |
| 💰 Minimum Deposit | 160,000 TZS or an equivalent to AU$100 |
| 📈 Average spread | Variable, from 0.0 pips |
| 🔨 Instruments Available | • 60+ Forex pairs • Precious 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 Base Account Currencies
👉 FP Markets gives customers with access to a greater choice of base currencies than other brokers including USD, AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD. However, the FP Markets does not provide TZS-denominated accounts.
FP Markets Demo Account
👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital.
👉 There is a certain degree of risk involved when trading financial markets and FP Markets offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.
👉 FP Markets provides a demo account with $100,000 in virtual currency or the equivalent amount in your account’s base currency. After 30 days of inactivity, demo accounts will be cancelled automatically, requiring traders to re-register if they want to utilize the demo account.
FP Markets Islamic Account
👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.
👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.
👉 Islamic accounts, also known as swap-free accounts, are appropriate for Muslim customers since, as per Islamic law, they incur no swaps or interest costs on overnight holdings. Rather, an administrative fee is withdrawn from the account balance and invoiced to the account holder.
👉 To register an Islamic account with FP Markets, Islamic traders can register either a MetaTrader 4 or 5 trading account. Next, they can send a request to FP Markets’ customer support to request an account conversion.
👉 Muslim traders who want to apply for an Islamic account must provide proof of their faith before they can convert their account into an Islamic account. In addition, Muslim traders who use the Islamic account are subject to the following administration fees applied:
| 🔨 Instrument | 💵 Admin Fee Charged |
| AUS200, CHINA50, FRA40, GER30, HK50, JP225, US100, EURO50, UK100 | $1 |
| AUD/USD, EUR/USD, GBP/USD, USD/CAD, USD/CHF, USD/JPY, NZD/USD, XAG/USD, XAU/USD | $5 |
| AUD/NZD, US500, LTC/USD, XRP/USD | $2 |
| US30, EUR/SEK, USD/SGD | $3 |
| AUD/SGD, CAD/JPY, EUR/CHF, EUR/JPY, GBP/CAD, NZD/SGD | $4 |
| AUD/CAD, CAD/CHF, CHF/JPY, EUR/DKK, EUR/GBP, NZD/CAD, USD/THB, XAG/AUD, USD/CZK | $5 |
| BTC/USD, GBP/JPY, GBP/SEK, XAU/AUD, XPT/USD | $6 |
| AUD/JPY, EUR/CAD, GBP/CHF, NZD/JPY | $7 |
| AUD/CHF, EUR/SGD, GBP/AUD, GBP/PLN, NZD/CHF, USD/CNH, USD/PLN, USD/SEK | $8 |
| CHF/SGD, EUR/AUD, EUR/NOK, EUR/NZD, EUR/PLN, GBP/DKK, GBP/SGD, GBP/NZD, USD/DKK, USD/NOK, XTI/USD, EUR/HUF, USD/HUF, EUR/CZK | $10 |
| EUR/ZAR, USD/MXN, USD/ZAR, XBR/USD, XTI/USD, XPD/USD | $20 |
| EUR/MXN, GBP/MXN, USD/RUB | $30 |
| EUR/TRY, GBP/TRY, USD/TRY | $70 |
| XNG/USD | $80 |
How to open an Account with FP Markets in Tanzania
👉 To register an account with FP Markets, Tanzanian Traders can follow these steps:
➡️ There is a section on the FP Markets login page for creating a new account.
➡️ This area requires the account holder’s name, email address, phone number, and country of residence.
➡️ In the next section, further information about the trader is presented, including the date of birth, occupation, and residence address.
➡️ Traders must now choose their account type, base currency, and trading platforms.
➡️ The third stage consists of completing a quick questionnaire designed to assist the broker to evaluate the trader’s knowledge and skill in trading various financial assets.
FP Markets Vs LiteFinance Vs Fidelity Investments – Broker Comparison
| 🥇 FP Markets | 🥈 LiteFinance | 🥉 Fidelity Investments | |
| 📱 Trading Platform | ASIC, CySEC, FSCA, CMA | CySEC | FINRA, SEC |
| 💵 Withdrawal Fee | • MetaTrader 4 • MetaTrader 5 • Myfxbook AutoTrade • FP Markets App | • MetaTrader 4 • MetaTrader 5 • LiteFinance Social Trading Platform • LiteFinance Trading App | • Active Trader Pro • Fidelity Mobile |
| 💻 Demo Account | Yes | No | No |
| 💸 Min Deposit | Yes | Yes | Yes |
| 📉 Leverage | 160,000 TZS | 110,000 TZS | 2,300 TZS |
| 📊 Spread | 1:500 | 1:500 | 1:1 |
| 💰 Commissions | From 0.0 pips | 0.0 pips | None |
| 🛑 Margin Call/Stop-Out | From US$3 | $0.25 per share | $0 to $0.03 |
| 📱 Order Execution | 100%/50% | 100%/20% | No |
| ✔️ No-Deposit Bonus | Market | Market | None |
| 💵 Cent Accounts | No | No | No |
| 💻 Account Types | No | No | • Brokerage Account • Cash Management Account • Brokerage and Cash Management • The Fidelity Account for Businesses • Fidelity Go, and several others |
| ⚖️ BoT Regulation | • MT4/5 Standard Account • MT4/5 Raw Account • MT4/5 Islamic • Standard Account • MT4/5 Islamic Raw Account | • ECN Account • Classic Account | No |
| 💰 TZS Deposits | No | No | No |
| ✔️ Tanzanian Shilling Account | Yes | Yes | No |
| 📞 Customer Service Hours | 24/7 | 24/5 | 24/7 |
| 🛍 Retail Investor Accounts | 4 | 2 | 15 |
| ☪️ Islamic Account | Yes | Yes | No |
| 💵 Minimum Trade Size | 0.01 lots | 0.01 lots | 1 lots |
| 📈 Maximum Trade Size | 50 lots | 100 lots | None |
| 📉 Minimum Withdrawal Time | Instant | Instant | Instant |
| 💸 Maximum Estimated Withdrawal Time | Up to 5 working days | Up to 5 working days | Between 5 to 7 days |
| 💰 Instant Deposits and Instant Withdrawals? | Yes, Sticpay wallet withdrawals | Yes | Yes |
Overall Rating
- 4.9/5
Min Deposit
USD 100 / 233 174 TZS
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 Trading Platforms
👉 FP Markets offers Tanzanian Traders a choice between these trading platforms:
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ Myfxbook AutoTrade
➡️ FP Markets App
Desktop Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
MetaTrader 4
👉 To assist you in making better trading decisions, MetaTrader 4 (MT4) includes more than 50 market analysis indicators by default.
👉 Apart from that, FP Markets offers a first-rate trading experience to Tanzanian consumers by offering an array of advanced charting tools and technical indicators as well as daily market reports through the desktop interface.
MetaTrader 5
👉 MetaTrader 5’s new features include more indicators, market depth display, 21-time frames, a built-in economic calendar, and an updated strategy tester. You may use the MT5 platform from FP Markets to trade Forex, stock indices, precious metals, and other commodities and currencies.
WebTrader Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ Myfxbook AutoTrade
MetaTrader 4
👉 Order processing is made faster at FP Markets MT4 thanks to the usage of an ECN exchange mechanism. It is possible to show many charts and market data at the same time, which makes it simpler to maintain track of multiple instruments at the same time. The convenience of one-click trading allows you to make a variety of orders directly on live charts.
👉 You may also join the MQL5 community for free using the Web version of MetaTrader, which gives you access to a wealth of extra indicators as well as the trading methods of other members who are also using the Web version. Numerous signs, robots, and signals may be located around the area.
MetaTrader 5
👉 With one of the most extensive sets of integrated indicators and graphical components available, as well as the ability to view currency market depth, MetaTrader 5 (MT5) is a powerful trading platform. MetaTrader 5 offers the added benefit of enabling a great degree of trading adaptability, which is a significant advantage.
👉 It is possible to use FP Markets with a broad variety of operating systems, including the Mac OS X operating system, according to the company. Access to WebTrader, a web-based trading platform, may be performed via the use of any popular web browser.
Myfxbook AutoTrade
👉 In FP Markets’ MetaTrader 4 (MT4) live accounts, users may make use of the AutoTrade tool to research the historical performance of trading tactics and then reproduce those strategies in their own accounts. AutoTrade is an excellent tool for scalping since it was designed specifically for the MetaTrader 4 trading platform.
Trading App
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ FP Markets App
MetaTrader 4 and 5
👉 Through MetaTrader 4 and MetaTrader 5, FP Markets offers mobile trading platforms for iOS and Android smartphones with alerts and push notifications, as well as full transaction and account management from a mobile device.
👉 On the website for the MetaTrader 5 trading platform, Tanzanian traders may do market research. Completing the list of new features are comprehensive charting and technical analysis tools, currency indicators, and enhanced pending order capabilities.
FP Markets App
👉 FP Markets has created bespoke trading software that enables you to trade Forex and CFDs on a variety of assets such as equities, indices, commodities, futures, and cryptocurrencies from the palm of your hand. You can easily access all your favourite trade products via a single app and account, saving you time and money.
👉 Using the FP Markets mobile application, trades may be made, tracked, and evaluated in seconds. Traders may also do research and technical analysis using a range of trading tools.
👉 The feature-rich FP Markets Trading App, which is available for download on all Apple and Android devices, puts you in total control of your trading experience.
FP Markets Range of Markets
👉 Tanzanian Traders can expect the following range of markets from FP Markets:
➡️ Forex
➡️ Shares
➡️ Metals
➡️ Commodities
➡️ Indices
➡️ Cryptocurrencies
➡️ Bonds
Financial Instruments and Leverage offered by FP Markets
| 🔨 Instrument | ✔️ Number of Assets Offered | 📈 Max Leverage Offered |
| ➡️ Forex | 60 | 1:500 |
| ➡️ Precious Metals | 3 | 1:500 |
| ➡️ Indices | 17 | 1:200 |
| ➡️ Stocks | • DMA: 10,000+ • MetaTrader: 1,000+ | 1:20 |
| ➡️ Cryptocurrency | 11 | 1:5 |
| ➡️ Energies | 4 | 1:200 |
| ➡️ Bonds | 2 | – |
| ➡️ Agricultural Commodities | 5 | 1:200 |
Broker Comparison for Range of Markets
| 🥇 FP Markets | 🥈 LiteFinance | 🥉 Fidelity Investments | |
| ➡️️ Forex | Yes | Yes | No |
| ➡️️ Precious Metals | Yes | Yes | No |
| ➡️️ ETFs | No | No | Yes |
| ➡️️ CFDs | Yes | Yes | Yes |
| ➡️️ Indices | Yes | Yes | No |
| ➡️️ Stocks | Yes | Yes | Yes |
| ➡️️ Cryptocurrency | Yes | Yes | No |
| ➡️️ Options | No | No | Yes |
| ➡️️ Energies | Yes | Yes | No |
| ➡️️ Bonds | No | No | Yes |
FP Markets Trading and Non-Trading Fees
Spreads
👉 FP Markets is an ECN and STP broker with variable spreads across all trading accounts in the following ways:
➡️ MT4/5 Standard Account – 1 pip EUR/USD
➡️ MT4/5 Raw Account – 0.0 pips EUR/USD
➡️ MT4/5 Islamic Standard Account – 1 pip EUR/USD
➡️ MT4/5 Islamic Raw Account – 0.0 pips EUR/USD
👉 Other spreads that Tanzanian traders can expect from FP Markets include:
| 🔨 Instrument | 💻 Standard Spreads | 📱 Raw ECN Spreads |
| AUD/USD | 1.4 pips | 0.0 pips |
| GBP/USD | 1.5 pips | 0.0 pips |
| XAG/USD | 0.02 pips | 0.0 pips |
| XAU/USD | 0.31 pips | 0.0 pips |
| Bonds | From 0.43 pips | – |
| Energies | From 0.024 pips | – |
| Soft Commodities | From 0.63 pips | – |
| US Tech 100 | 1.5 pips | – |
| VIX | 0.1 pips | – |
| BTC/USD | 9.13 pips | – |
Commissions
👉 While FP Markets provides certain commission-free choices for Tanzanian traders, there are commission costs charged to zero-spread accounts to compensate the broker’s fee for arranging the deal. These commissions are applied in the following manner:
➡️ MT4/5 Raw Account – US$3 per side
➡️ MT4/5 Islamic Raw Account – US$3 per side
Overnight Fees, Rollovers, or Swaps
👉 On its website, FP Markets provides all exchange costs for each product. Swap fees are calculated by using current bank interest rates and adding a little markup imposed by FP Markets. Overnight costs at FP Markets vary depending on the financial instrument, position size, position type, and time the position is maintained open.
👉 The typical fees that Tanzanian traders can expect are as follows:
➡️ EUR/USD – a long swap of -5.50 and a short swap of 0.38
➡️ BTC/USD – a long swap of -20.00 and a short swap of -20.00
➡️ US100 – a long swap of -1.07 and a short swap of -0.94
➡️ XAG/USD – a long swap of -1.36 and a short swap of -0.78
➡️ XAU/USD – a long of -4.88 and a short swap of -1.82
Deposit and Withdrawal Fees
👉 When Tanzanian traders make deposits to their trading accounts, FP Markets does not charge them any deposit fees at any point throughout the transaction. Tanzanian traders, on the other hand, should be aware that the following withdrawal fees are levied when funds are withdrawn:
➡️ International Bank Wire other than AUD – 10 AUD
➡️ Neteller – 2% up to 30 USD in addition to country fees
➡️ Skrill – 1% and country fees
➡️ Fasapay – 0.50%
➡️ PayTrust – 1.5%
➡️ Dragonpay – 1.5%
➡️ Perfect Money – 0.5%
➡️ Asian, African, and Latam Payments – 2%
➡️ Cryptocurrency Payments – Blockchain fees
➡️ MPSA – 7.25%
➡️ FairPay – 0.5% plus an additional flat fee of 10 USD
➡️ Paylivre – 1.5%
➡️ Finrax – Blockchain fees
➡️ Sticpay – 5% for bank wire and 2.5% for wallet fees
➡️ Thai Pay – 0.5%
➡️ Virtual Pay – 2%
➡️ XPAY – 1.5%
Inactivity Fees
👉 You will not be charged any fees or penalties if you do not use your account for a long time with FP Markets, which is one of the broker’s many advantages.
Currency Conversion Fees
👉 Currency conversion fees could apply to Tanzanians when they deposit or withdraw in TZS, depending on the payment method they choose.
Overall Rating
- 4.9/5
Min Deposit
USD 100 / 233 174 TZS
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 Deposits and Withdrawals
👉 FP Markets offers the following deposit options to Tanzanian traders:
➡️ Debit Card
➡️ Bank Transfer
➡️ Neteller
➡️ Skrill
➡️ PayTrust
➡️ Sticpay
➡️ Fasapay
➡️ Virtual Pay
➡️ Rupee Payments
➡️ Dragonpay
➡️ Perfect Money
➡️ Asian, African and Latam Payments
➡️ Paylivre
➡️ Cryptocurrency (LetKnowPay)
➡️ Rapyd Bank Transfer
➡️ Rapid Transfer
➡️ Finrax
➡️ MPSA
➡️ Nganluong
➡️ XPAY
➡️ Broker to Broker
👉 When withdrawing funds from a trading account, Tanzanian traders can choose from these methods:
➡️ Debit Card
➡️ Credit Card
➡️ Domestic Bank Wire
➡️ International Bank Wire
➡️ Neteller
➡️ Skrill
➡️ Fasapay
➡️ PayTrust
➡️ Dragonpay
➡️ Perfect Money
➡️ Cryptocurrency
➡️ MPSA
➡️ FairPay
➡️ Paylivre
➡️ Finrax
➡️ Sticpay
➡️ Rupee Payments
➡️ Rapid
➡️ Virtual Pay
➡️ XPAY
Broker Comparison: Deposit and Withdrawals
| 🥇 FP Markets | 🥈 LiteFinance | 🥉 Fidelity Investments | |
| Minimum Withdrawal Time | Instant | Instant | Instant |
| Maximum Estimated Withdrawal Time | Up to 5 working days | Up to 5 working days | Between 5 to 7 days |
| Instant Deposits and Instant Withdrawals? | Yes, Sticpay wallet withdrawals | Yes | Yes |
FP Markets Deposit Currencies, Deposit and Withdrawal Processing Times
| 💸 Payment Method | 💵 Deposit Currencies | 💰 Deposit Processing | 💳 Withdrawal Processing |
| Credit Card | AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD, CZK, PLN, AED | Instant | 1 business day |
| Debit Card | AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD, CZK, PLN, AED | Instant | 1 business day |
| Bank Transfer | AUD, USD, EUR, GBP, SGD, HKD | 1 business day | – |
| Neteller | AUD, CAD, CHF, EUR, GBP, JPY, INR, BRL, SGD, USD | Instant | 1 business day |
| Skrill | AUD, CAD, EUR, GBP, INR, USD, BRL | Instant | 1 business day |
| PayTrust | MYR, IDR, VND | Instant | 1 business day |
| Sticpay | JPY, EUR, GBP, USD, HKD, TWD, KRW, SGD | Instant | Bank Wire: 1 – 5 days |
| Fasapay | USD, IDR | Instant | 1 business day |
| Virtual Pay | KES, UGX, TSH | Instant | 1 business day |
| Rupee Payments | INR | Instant | 1 – 2 business days |
| Dragonpay | PHP, AUD, CAD, CHF, EUR, GBP, HKD, SGD, USD | Instant | 1 business day |
| Perfect Money | USD | Instant | 1 business day |
| Asian, African and Latam Payments | USD, GBP, EUR, African and Asian Currencies | Instant | 1 business day |
| Paylivre | BRL, USD | Up to 1 hour | 1 – 2 business days |
| Cryptocurrency (LetKnowPay) | ADA, BCH, BTC, DASH, ETH, LTC, PAX, XRP, TUSD, USDC, USDT (ERC20), USDT (TRC20), ZEC | Instant | 1 business day |
| Rapyd Bank Transfer | BRL, MXN, COP, CLP | Instant | – |
| Rapid Transfer | EUR, DKK, SEK, HUF, GBP, PLN, NOK | Instant | 1 – 2 business days |
| Finrax | BTC, ETH, LTC, XRP, BAT, BNT, CVC, ENJ, FUN, LINK, MITH, MTL, OMG, REP, XLM, BCH, USDT | Instant | 1 business day |
| MPSA | INR | Instant | 1 – 2 business days |
| Nganluong | VND | Instant | 1 – 2 business days |
| XPAY | IDR, MYR, THB, VND | Instant | 1 – 2 business days |
| Broker to Broker | AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD | 1 business day | – |
| Domestic Bank Wire | AUD | – | 1 – 2 business days |
| International Bank Wire | All except AUD | – | 1 – 2 business days |
| MPSA | INR | Instant | 1 – 2 business days |
| FairPay | BRL, CLP, COP, CRC, GTQ, MXN, PEN, USD | – | 1 – 2 business days |
How to Deposit Funds with FP Markets
👉 To deposit funds to an account with FP Markets, Tanzanian Traders can follow these steps:
➡️ Verify and authenticate your trading account before attempting to deposit cash.
➡️ Enter your client area using the credentials you registered with and click on “Funding” from the trader’s dashboard on the left to get started.
➡️ Click “Deposit” on the trading account to which you wish to transfer money.
➡️ Select a deposit method from the list offered, enter a deposit amount, and choose a currency for the deposit.
➡️ You may be asked to complete one or more extra steps by your payment provider.
FP Markets Fund Withdrawal Process
👉 To withdraw funds from an account with FP Markets, Tanzanian Traders can follow these steps:
➡️ Make sure you have enough money in your account to withdraw.
➡️ Select “Funding” from the left-hand side and then “Withdraw” to withdraw funds from your Client Area.
➡️ Before selecting another method, fill out the form that appears and use it the same way that you used to deposit your funds.
👉 Tanzanian traders should be aware that there are restrictions on the amount of money that they may withdraw based on the amount that they have put in their accounts.
👉 For example, if a trader puts 160,000 TZS using a credit or debit card, they can only withdraw the same amount that was placed using the same method that was used to make the transaction.
FP Markets Education and Research
Education
👉 FP Markets offers the following Educational Materials to Tanzanian traders:
➡️ Trading Courses Videos
➡️ Webinars
➡️ Podcasts
➡️ Events
➡️ Platform Video Tutorials
➡️ eBooks
➡️ Glossary
➡️ Newsletter
➡️ FP Markets Academy
Research and Trading Tool Comparison
| 🥇 FP Markets | 🥈 LiteFinance | 🥉 Fidelity Investments | |
| Economic Calendar | Yes | Yes | Yes |
| VPS | Yes | No | No |
| AutoChartist | Yes | No | No |
| Trading View | No | No | No |
| Trading Central | No | Yes | No |
| Market Analysis | Yes | Yes | Yes |
| News Feed | Yes | Yes | Yes |
| Blog | Yes | Yes | Yes |
👉 FP Markets offers Tanzanian Traders the following Research and Trading Tools:
➡️ Trader’s Hub
➡️ Trading Knowledge
➡️ Technical Analysis
➡️ Fundamental Analysis
➡️ Economic Calendar
➡️ Forex Calculator
➡️ Traders Hub Blog
FP Markets Bonuses and Promotions
👉 FP Markets does not currently indicate any active bonuses or promotions for Tanzanian traders.
How to open an Affiliate Account with FP Markets
👉 To register an Affiliate Account, Tanzanian Traders can follow these steps:
➡️ On the official FP Markets website, go down to the “Partners” section.
➡️ After selecting an option, a new page will load.
➡️ Click the red “Join Now” banner and choose “Affiliate” from the drop-down option that appears.
➡️ Include your first and last name, email address, country of residence, and mobile phone number.
➡️ Next, input the user-selected Username and Password.
➡️ Describe how you propose to promote FP Markets through your website, social media, as a signal provider, Google, pay-per-click, or any other way.
➡️ Enter the URLs of your social media profiles and websites here.
➡️ Indicate whether you are an associate with other brokers and how many clients you refer each month.
➡️ Select your expected total deposits and indicate how long you have been a member (if you are an existing affiliate with other brokers).
➡️ Define the regions that you want to target.
➡️ Before clicking “Apply Now,” read and accept the Affiliate Terms & Conditions.
FP Markets Affiliate Program Features
👉 FP Markets offers one of the most effective partnership programs in the market, designed to encourage and recompense brokers and partners that recommend new customers to FP Markets.
👉 FP Markets gives affiliates the ability to earn up to $800 CPA, as well as the following benefits and features:
➡️ Robust, real-time tracking technology.
➡️ Availability of advanced and transparent reporting 24-hour-a-day, five-day-a-week service
➡️ On-demand access to a specialized conversion specialist
➡️ Multilingual marketing materials that can be readily translated
➡️ Customized agreements and payment structures
➡️ Innovative Introducing Broker and Affiliate portals.
➡️ Payments are expedited and straightforward, and commissions are considerable.
Overall Rating
- 4.9/5
Min Deposit
USD 100 / 233 174 TZS
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 Customer Support
👉 When Tanzanian traders have any issues, questions, or queries, they can contact FP Markets’ friendly, helpful support 24 hours a day, 5 days a week through various communication channels.
| Customer Support | FP Markets’ Customer Support |
| ⏰ Operating Hours | 24/5 |
| 🗣 Support Languages | English, Arabic, Indonesian, Vietnamese, Portuguese, Thai, Malay, Japanese |
| 🗯 Live Chat | Yes |
| 📧 Email Address | Yes |
| 📞 Telephonic Support | Yes |
| ✔️ Local Support in Tanzania? | No |
| 🥇 Overall quality of FP Markets Support | 4.2/5 |
FP Markets Corporate Social Responsibility
👉 There is currently no information relating to FP Markets’ CSR initiatives or active projects.
Our Verdict on FP Markets
👉 In a sea of trading platforms that all provide very identical services, it is difficult to distinguish clear winners, but FP Markets stands apart. Its ECN-style pricing is unrivalled, and the variety of assets you may trade, kinds of accounts, and trading platforms are further advantages.
👉 Overall, as a well-regulated STP/ECN broker, FP Markets provides Tanzanian traders with dynamic account choices and an engaging collection of tools. Both MT4 and MT5 are supported, and trading expenses are comparable to the industry norm for both account types.
👉 In addition, FP Markets permits all trading techniques and offers excellent instructional and market research tools for traders of all levels of expertise.
FP Market Pros and Cons
| ✔️ Pros | ❌ Cons |
| FP Markets is an Australian-based broker with Tier-1 regulation through ASIC and Tier-2 regulation through its CySEC | There are no fixed spread accounts available from FP Markets |
| FP Markets offers a massive range of markets that can be traded through powerful trading platforms and mobile apps | Withdrawal fees apply to several payment methods |
| Tanzanian traders can expect ECN trade execution, minimal slippage, and no requotes | There are additional administrative charges applied to the Islamic accounts to offset the absence of overnight fees |
| FP Markets accommodates and welcomes Muslim traders by offering dedicated Islamic accounts with competitive trading conditions | |
| FP Markets provides a range of useful trading tools | |
| There are several educational materials offered to beginner Tanzanian traders | |
| There is a comprehensive and attractive affiliate program offered |
FAQ
Is FP Markets true ECN?
Yes, FP Markets prides itself in being an ECN pricing forex broker that offers competitively low spreads from 0.0 pips. In addition, FP Markets employs the best and newest technology to ensure that Tanzanian traders have the best trading conditions.
Is FP Markets good?
Yes, FP Markets is a good broker. FP Markets is a well-regulated broker with a decent trading environment appropriate for novices, affordable pricing, a solid trading proposition with a variety of platforms including ECN trading, and outstanding trading education.
Is FP Markets regulated?
Yes, FP Markets is well-regulated by the ASIC in Australia under ABN 16112600281 and CySEC under license number 371/18.
Is FP Markets safe or a scam?
FP Markets is a safe broker for Tanzanian traders. FP Markets has Tier-1 (ASIC) and Tier-2 (CySEC) regulations and a high trust score of 81%, making it a low-risk broker.
Does FP Markets have Nasdaq?
Yes, FP Markets offers Nasdaq through US Tech 100 as a CFD on Indices with competitive spreads on the Standard Account.
Does FP Markets allow hedging?
Yes, FP Markets allows hedging and caters for the use of Expert Advisors, scalping strategies, and several others, making FP Markets one of the best brokers for traders of all experience levels.
How can you change leverage on FP Markets?
Log into your client portal by entering your username and password on the login screen. Navigate to “Change Account Leverage,” select your account number, and modify the account leverage settings by using the lower dropdown menu.
What is the withdrawal time for FP Markets?
The withdrawal time for FP Markets is between instant payments on the Sticpay wallet and up to five working days on bank wire transfers.
Does FP Markets have Volatility 75?
Yes, FP Markets has Volatility 75. Tanzanians can trade VIX on the Standard Accounts as a CFD instrument and expect competitively low spreads.
Conclusion
👉 Now it is your turn to participate:
➡️ Do you have any prior experience with FP Markets?
➡️ What was the determining factor in your decision to engage with FP Markets?
➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?
➡️ Have you experienced any issues with FP Markets such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?
👉 Regardless, please share your thoughts in the comments below.
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.
