FP Markets Minimum Deposit
In this article
This guide will cover the FP Markets minimum deposit and how you can open your account to deposit funds.
FP Markets is a reputable and leading broker to start trading with. Founded in 2005, FP Markets offers ECN trading conditions with direct market access pricing. In addition, you can look for different products available for the broker to start trading with. So, let’s take a look!
How much is FP markets minimum deposit?
The minimum deposit of the FP Markets is around $100 or even equivalent in your trading currency. However, the minimum deposit also depends on the trading account you have selected. For example, MT4 accounts require a minimum deposit of $100, while IRESS accounts range from $1000 to $50,000.
The minimum deposit is one amount you need to transfer from your bank account to your brokerage account to start trading. In general, the entire process is also known as funding or the initial deposit.
|Deposit Fees||Only for the IRESS|
|Base Currencies||EUR, USD, GBP, or AUD, CAD, and SGD, CHF, HKD, JPY, and NZD|
The total number of base currencies which are supported by FP Markets is a maximum of 10. This includes JPY, CAD, USD, EUR, NZD, CGD, GBP, HKD and CHF. FP Market is one of those trading platforms which support both primary and more minor currencies.
A small conversion fee is charged if you deposit such currency in your account, which FP Markets do not support.
Do FP Markets have a deposit bonus?
FP Markets does not offer any trading bonus or any deposit bonus on the offer. They used to offer a 30% deposit bonus with a $30 no deposit bonus in the early days of the broker platform. But they are no longer part of FP Markets.
FP Markets minimum deposit vs other brokers: Comparison table
In the below table, we will compare the minimum deposit details of FP Markets with other top famous forex brokers:
|FP Markets||AvaTrade||IC Markets|
|Number of deposit methods||17||11||9|
Different deposit methods available by FP Markets
FP Markets generally charge with the deposit fees amounting to the AUS Dollar 10. This fee is charged when a trader uses international bank wire in any of the currencies besides AUD.
The AUS Dollar 25 fee is charged when a trader deposits from one broker to another based on the international transaction. In addition, FP Markets offers ECN trading conditions with direct market access pricing.
Hence, the platform is currently supporting different deposit currencies which are linked to numerous payment methods such as:
- Credit/Debit Cards –For more than 9 currencies supporting USD, CAD, EUR and GBP.
- International Bank Wire – All types of deposit currencies
- Neteller – AUD, EUR, CAD, GBP, and CHF.
- Skrill – BRL, USD, AUD, EUR, INR and GBP.
Generally, wire transfers take 2-3 business days to process your deposit and withdrawal. In contrast, online wallets or debit cards only require a few hours.
FP Markets’ only drawback in depositing money is that the platform’s interface is not as user-friendly as other broker platforms. And this non-friendly interface will make the transfer a little bit daunting.
Steps to follow to deposit funds in your FP Markets account
Step no 1: Opening broker live account
As a new broker, you should first open an online trading account. Provide all your personal and financial details correctly to open the account without any hassle. Additionally, you are asked to take a short financial knowledge test.
Verification of your residency and identity will be done, so you will need to submit a copy of your residence and ID card. It is also mandatory to submit bank statements.
To pick a suitable and reliable broker, you can use the broker selector tool.
Step no 2: Perform the deposit
Once your account opening has been approved, the second step is to make a deposit. Again, look for the depositing interface and choose the method based on your preferences.
Firstly, sign-up for your already opened trading account and look for the depositing interface. Then, to make a deposit, select a deposit method and enter the deposit amount.
Step no 3: Review all your transactions
Depending on the method you selected, you may have to wait a few days for the deposit to appear on your brokerage account. A notification mail is also sent to the registered email to confirm the deposit.
Pros and cons of FP Markets minimum deposit
- Available with different payment methods
- Low minimum deposits
- Different deposit currencies based on the payment method
- Has a deposit and withdrawal fees based on the selected payment method
FP Markets minimum deposit: FAQs
1. How do you deposit FP Markets?
Deposit and withdrawal of funds are possible through different payment methods such as Skrill, Neteller, credit/debit cards, and international bank wire. The platform prohibits any third-party payments.
2. Is FP Markets free?
There are some accounts with commissions and others without them. It is the personal choice of the trader to pick an account option that suits their requirements. FP Markets’ minimum deposit is 100 AUD, but it varies depending on the account type.
3. How long does it take to make a withdrawal?
Generally, transactions from FP Markets are processed in one business day. However, the wire transfer method will take 2-3 business days for the process completion.
FP Markets: Is it a safe platform for trading?
To sum up, FP Markets is a regulated broker platform to start trading with. It offers a variety of trading products across multiple global markets. Being the award-winning platform, FP Markets has transparent pricing, with the fastest execution speed and competitive trading costs.
Jason Morgan is an experienced forex analyst and writer with a deep understanding of the financial markets. With over 13+ years of industry experience, he has honed his skills in analyzing and forecasting currency movements, providing valuable insights to traders and investors.
Forex Content Writer | Market Analyst