FP Markets
scotia itrade
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Overview
FP Markets was founded in 2005 and is headquartered in Australia, while scotia itrade was established in 2012 and is based in UK. FP Markets holds licences including Australian Securities and Investment Commission (ASIC), while scotia itrade is regulated by Financial Conduct Authority (FCA) among others. FP Markets serves 10,000+ clients worldwide; scotia itrade has 10,000+. The minimum deposit is $100 at FP Markets and $250 at scotia itrade.
| Feature | FP Markets | scotia itrade |
|---|---|---|
| Min. Deposit | $100 | $250 |
| Regulation | Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F303 |
| Founded | 2005 | 2012 |
| Country | Australia | UK |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between FP Markets and scotia itrade, 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 scotia itrade). Neither broker charges withdrawal fees. FP Markets charges deposit fees; scotia itrade does not. Overall, FP Markets scores higher on fees in our assessment.
| Feature | FP Markets | scotia itrade |
|---|---|---|
| Min. Deposit | $100 | $250 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
FP Markets offers MT4, MT5, cTrader, while scotia itrade supports MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. FP Markets edges ahead on platform breadth and functionality in our scoring.
| Feature | FP Markets | scotia itrade |
|---|---|---|
| MT4 | Yes | No |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how FP Markets and scotia itrade compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. scotia itrade scores higher overall in education and research.
| Feature | FP Markets | scotia itrade |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. FP Markets accepts 5 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill, Neteller), while scotia itrade supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). Both brokers support the same set of payment methods.
| Feature | FP Markets | scotia itrade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | Yes |
| Skrill | Yes | Yes |
| Neteller | Yes | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both FP Markets and scotia itrade offer live chat support. Both provide phone support. Email support is available at both brokers. scotia itrade offers multilingual support. Both brokers are comparable on support quality.
| Feature | FP Markets | scotia itrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | Not available | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |