Choicetrade
FP Markets
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Overview
Choicetrade was founded in 2009 and is headquartered in United States, while FP Markets was established in 2005 and is based in Australia. Choicetrade holds licences including Unregulated, while FP Markets is regulated by Australian Securities and Investment Commission (ASIC) among others. Choicetrade serves 10,000+ clients worldwide; FP Markets has 10,000+. The minimum deposit is $250 at Choicetrade and $100 at FP Markets.
| Feature | Choicetrade | FP Markets |
|---|---|---|
| Min. Deposit | $250 | $100 |
| Regulation | Unregulated | Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 2009 | 2005 |
| Country | United States | Australia |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Choicetrade and FP Markets, directly affecting your bottom line as a trader. FP Markets has a lower barrier to entry with a minimum deposit of $100 (vs $250 at Choicetrade). Choicetrade charges withdrawal fees while FP Markets does not, a notable advantage for frequent withdrawers. FP Markets charges deposit fees; Choicetrade does not. Overall, FP Markets scores higher on fees in our assessment.
| Feature | Choicetrade | FP Markets |
|---|---|---|
| Min. Deposit | $250 | $100 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | Yes | Yes |
Platforms
Choicetrade offers MT4, MT5, cTrader, while FP Markets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. FP Markets supports social and copy trading features, which Choicetrade does not offer. The two brokers are closely matched on platform offering.
| Feature | Choicetrade | FP Markets |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | cTrader, SocialTrading, copyTrading, webPlatform, DesktopPlatform, Proprietary . | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Choicetrade and FP Markets compare. FP Markets runs regular live webinars; Choicetrade does not. FP Markets has a video library; Choicetrade does not. FP Markets publishes daily market commentary; Choicetrade does not. FP Markets integrates third-party research tools (Trading Central); Choicetrade does not. FP Markets maintains an archive of past webinars for on-demand viewing. FP Markets scores higher overall in education and research.
| Feature | Choicetrade | FP Markets |
|---|---|---|
| Forex Education | No | No |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Choicetrade accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while FP Markets supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). FP Markets uniquely supports PayPal and Skrill and Neteller among the two brokers. FP Markets scores higher on deposit and withdrawal flexibility.
| Feature | Choicetrade | FP Markets |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Choicetrade and FP Markets offer live chat support. Both provide phone support. Email support is available at both brokers. Choicetrade offers multilingual support. Both brokers are comparable on support quality.
| Feature | Choicetrade | FP Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | Not available |