FP Markets
WellsTrade
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
FP Markets was founded in 2005 and is headquartered in Australia, while WellsTrade was established in 2008 and is based in United States. FP Markets holds licences including Australian Securities and Investment Commission (ASIC), while WellsTrade is regulated by Unregulated among others. FP Markets serves 10,000+ clients worldwide; WellsTrade has 10,000+. The minimum deposit is $100 at FP Markets and $30 at WellsTrade.
| Feature | FP Markets | WellsTrade |
|---|---|---|
| Min. Deposit | $100 | $30 |
| Regulation | Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Unregulated |
| Founded | 2005 | 2008 |
| Country | Australia | United States |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between FP Markets and WellsTrade, directly affecting your bottom line as a trader. FP Markets has a lower barrier to entry with a minimum deposit of $100 (vs $30 at WellsTrade). Neither broker charges withdrawal fees. FP Markets charges deposit fees; WellsTrade does not. Overall, WellsTrade scores higher on fees in our assessment.
| Feature | FP Markets | WellsTrade |
|---|---|---|
| Min. Deposit | $100 | $30 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
FP Markets offers MT4, MT5, cTrader, while WellsTrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. FP Markets supports social and copy trading features, which WellsTrade does not offer. The two brokers are closely matched on platform offering.
| Feature | FP Markets | WellsTrade |
|---|---|---|
| MT4 | Yes | Yes |
| 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 | iPhone,Tablet,Mac,Android,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how FP Markets and WellsTrade compare. FP Markets runs regular live webinars; WellsTrade does not. FP Markets has a video library; WellsTrade does not. FP Markets publishes daily market commentary; WellsTrade does not. FP Markets integrates third-party research tools (Trading Central); WellsTrade does not. FP Markets maintains an archive of past webinars for on-demand viewing. FP Markets scores higher overall in education and research.
| Feature | FP Markets | WellsTrade |
|---|---|---|
| Forex Education | No | No |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | No | No |
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 WellsTrade supports 2 (bank transfer, credit/debit card). FP Markets uniquely supports PayPal and Skrill and Neteller among the two brokers. FP Markets scores higher on deposit and withdrawal flexibility.
| Feature | FP Markets | WellsTrade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | No |
| Skrill | Yes | No |
| Neteller | Yes | No |
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 WellsTrade offer live chat support. Both provide phone support. Email support is available at both brokers. WellsTrade offers multilingual support. Both brokers are comparable on support quality.
| Feature | FP Markets | WellsTrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | Not available | English, and Chinese |