FP Markets Minimum Deposit
FP Markets Minimum Deposit
The FP Markets minimum deposit amount required is AU$100 or currency equivalent.
The minimum deposit amount of AU$100 when registering a live account is equivalent to ZAR1,188.48 at the current exchange rate between Australian Dollar and South African Rand on the day that this article was written.
FP Markets is an Australian-based broker, authorized and regulated by two of the strictest and most demanding regulating entities namely the ASIC and CySEC, and as a regulated broker, one of the requirements is that client funds be kept in segregated accounts.
In complying with this, amidst several other strict rules and regulations, all client funds must be kept separate from the broker account, and it can only be used by traders to conduct trading activities.
In addition to ensuring client fund security through segregated accounts, regulated brokers such as FP Markets are required to be a member of a compensation scheme or fund which pays out a certain amount to eligible clients in the case of company insolvency.
Deposit fees and deposit methods
FP Markets charges deposit fees amounting to AU$10 when using international bank wire in any currency other than AUD and AU$25 should the trader use the option to deposit from broker to broker and it is an international transaction.
FP Markets supports a variety of deposit currencies which are linked to different payment methods including:
- Credit/Debit Cards – Up to 9 currencies supported including CAD, EUR, GBP, USD and more.
- International Bank Wire – All deposit currencies
- Neteller – AUD, CAD, CHF, EUR, GBP, and several others.
- Skrill – USD, EUR, GBP, AUD, INR, and BRL.
Step by step guide to deposit the minimum amount
To make the minimum deposit, traders can follow these steps:
- Log into the Client Area on the website.
- Navigate to ‘Funding’ on the left side of the screen and choosing ‘Deposit’.
- The trader can then select the trading account and click ‘Submit’.
Pros and Cons
|1. Variety of payment methods provided||1. Deposit and withdrawal fees charged according to the chosen payment method|
|2. Variety of deposit currencies depending on the payment method|
|3. Low minimum deposit|
What is the minimum deposit for FP Markets?
How do I make a deposit and withdrawal with FP Markets?
You can deposit and withdraw funds by using any of the following payment methods:
- Credit/Debit Cards
- International Bank Wire
- Skrill, and
- Broker to broker
FP Markets prohibits third party payments. Deposits and withdrawals must be to and from the same account that the trader registers when opening a live account.
Does FP Markets charge withdrawal fees?
Withdrawal fees are charged depending on the payment method the trader chooses and can be viewed as follows:
- International Bank Wire – in a currency other than AUD the fee is AU$10.
- Neteller – 2% and a maximum of US$30.
- Skrill – 1% along with country fees if and where applicable.
- Broker to broker – AU$25 should it be an international transaction.
How long does it take to make a withdrawal?
When making use of the payment methods provided, most transactions are processed within one business day.
July 8, 2020