FP Markets is owned and operated by First Prudential Markets Pty Ltd., which is licensed by the Australian Securities and Investment Commission (ASIC). ASIC offers clients a lot of protections against unethical brokers. First of all, it requires regulated brokerages to maintain capital holdings of at least AUD 1 million. Second, client funds must be kept segregated (separate) from the company’ s operating balance. Third, there are no restrictions on the leverage provided to retail clients.
Currently, Australia is one of the main forex hubs in the world and is expected to attract even more forex brokers now that ESMA capped leverage at 1:30 to retail investors across Europe.
Note that does FP Markets not accept clients from USA, Japan, New Zealand residents or any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations.
FP Markets offers its clients the Stndard and ECN Raw accounts for trading in forex. Both of them offer high leverage levels, reaching 1:500, micro tradeable lots and competitive spreads.
ECN Raw account holders can choose between MT4, MT5 and the broker’s in-house trading software, while the Standard commission-free account provides access only to the MetaTrader 4 platform
Methods of Payment
FP Markets offers its clients a variety of deposit/withdrawal methods: via credit/debit card, bank wire, BPAY, AstroPay, Neteller, Skrill, and POLi.
As regards withdrawals, FP Markets does not charge any fees for processing Australian withdrawals. However, there is a $20 per transaction for International bank transfers and 1.8% for credit cards are payable to banks & Credit card companies.