FP Markets is an Australian-based and owned broker regulated by the Australian Securities and Investments Commission (ASIC). The broker provides global contracts-for-difference (CFDs) on equities, commodities and indexes as well as forex and Bitcoin trading services.
Earlier this year, Finance Magnates reported that the company secured Craig Allison as Head of Global Development and announced a sponsorship deal with ASM Academy, a golf academy based in South Africa.
The company is currently going through a new phase of development – global growth. As a result, the broker is in the process of obtaining financial licenses outside of Australia.
To get a deeper insight into what’s next for the company, we spoke with the Managing Director of FP Markets, Matthew Murphie.
Low volatility and increasing trade tensions have resulted in mixed trading results for brokers so far this year. How is FP Markets performing so far in 2018 in this environment?
FP Markets has posted record results this year by consolidating existing markets and continuing to grow into new ones and we are very happy with the direction of the company as it enters this new phase of development.
At the same time, we are also acutely aware of, and excited about, the huge opportunities that remain to grow and improve the business.
FP Markets have been in operation since 2005 so we are no strangers to swings in the markets. FP Markets pioneered the Direct Market Access (DMA) CFD model in Australia which promotes fair and transparent pricing and focuses on the best possible order execution for clients.
We are still committed to providing DMA pricing for products where a centralised exchange is present. For products such as Forex in which this is not possible, we provide true ECN (Electronic Communication Network) pricing which we believe offers the best results for clients.
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Earlier this year in February, you named Craig Allison as your head of Global Development. Since joining, how would you say your global strategy has changed or improved?
The arrival of Craig has coincided with our expansion to add other markets to our already strong client base of Australia.
Expanding globally is not without its challenges and requires streamlining and adaptation of existing processes to adapt to new markets and that is something he and the team are continuing to do through investment in processes and technology and by continuing to put clients’ needs at the heart of our offering.
Our focus with Craig on board is to take the company to a different level in order to make it recognised globally, as it currently is in Australia, as the leading industry brand.
How is FP Markets licensed?
Founded and regulated by the Australian Securities and Investment Commission (ASIC) in 2005, FP Markets has a strong operational track record over the past 13 years.
The company has its headquarters in Sydney, and is in the process of becoming regulated in the EU and obtaining financial licences to continue to service it’s thousands of clients from around the world and billions of dollars of transactions executed each month.
Earlier this month new regulations came into effect in the EU regarding CFDs. How would you describe the regulatory landscape in Australia for CFDs and forex trading?
ASIC is one of the toughest regulators in the world. FP Markets has been regulated by ASIC since 2005. Regulations require the company to be adequately capitalized and ensures that clients funds are held in line with Australian Client Money Laws. This means that client funds are not only held separate from the company’s funds, ASIC also requires that all funds are reconciled each day. ASIC enforces among the highest industry standards in the world and has a reputation of providing high levels of client protection.
FP Markets already enjoys an excellent reputation within the Australian market for treating clients fairly, so clients can feel confident trading with FP Markets while taking advantage of over 10,000 trading instruments across Equity CFDs, Futures CFDs, Indices, Forex and Bitcoin, making it one of the largest offerings in the industry.