Forex FAQ

Want to know more about FP Markets Forex? You can email us, call us or contact our live chat with any questions: but before that, why not save yourself some time and check out our frequently asked questions (FAQ) sections. Here we look at how the company works and what you can expect if you become a forex trading client.

Frequently Asked Questions (FAQ)

What is FP Markets Forex?

FP Markets Forex is the Forex division of First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). It is based in Australia and made its name for providing Contracts for Difference (CFD) – a highly popular financial trading instrument throughout the country.

It has since used its depth of understanding about the financial markets to expand into forex trading.

FP Markets has also scooped numerous awards including those from highly respected names such as Investment Trends, Smart Investor, The Bull and Money Magazine.

Where do your forex trading prices come from?

Several different tier one banks are used for pricing and liquidity with the best bids and ask prices selected from across these banks using the award winning MetaTrader4 software.

How can I deposit funds?

There is a host of depositing options available including: debit cards, credit cards, Neteller, Moneybookers/Skrill and wire transfers. For a full list of depositing options please check out the account funding page.

 What currencies can be used for deposits?

Depending on the depositing method you choose, you may be able to use the following currencies: AUD, USD, SGD, CHF, GBP, CAD,HKD, JPY, EUR, and NZD.

What is the minimum amount of currency I can deposit?

With FP Markets Forex, minimum deposits begin at $100AUD for standard accounts; while the minimum deposit for pro/raw accounts is set at $1,000.

What about minimum deals?

Trading of micro lots is accepted at FP Markets Forex: with volumes of 0.01 (or $1000) of base currency . These minimum forex trading levels apply for all FX pairs; as well as for WTI Crude Oil, gold and silver.

What about the maximum leverage available?

With an MT4 trading account at FP Markets Forex you can enjoy a maximum leverage of 500:1, which is available on request. The typical leverage however, is 100:1.

How long is a demo platform available?

With FP Markets Forex you can try a MT4 practice demo account for just 30 days. If you don’t want it to expire then you need to contact an account manager and open a live account.

What about withdrawing funds?

If you wish to withdraw from your account all you need is to use the MT4 password and login and submit your withdrawal request via the FP Markets Forex account withdrawal page. As an alternative, you can send an email to support@fpmarkets.com.au. Withdrawals will be made to the same credit card, debit card or other depositing method you originally used.

How will my funds be held?

All monies are dealt with according to the guidance of the Australian Client Money Rules under the Corporations Act. Clients’ money is always kept in segregated trust accounts.

Are US clients accepted?

Unfortunately at this time, it is not possible to accept clients’ accounts from the USA: but FP Markets Forex does accept accounts from the majority of jurisdictions.

What time does FP Markets Forex open for trading?

Trading is available 24hrs a day from 7am Monday morning AEST to 7am Saturday morning AEST. This is the equivalent to 5pm Sunday to 5pm Friday evening Eastern Time (USA). During daylight saving changesthe platform and opening times will follow the US opening equivalent times.

What times do the charts reflect?

The time setting on the MetaTrader 4 platform will change between GMT+2 and GMT+3: depending which is also known as the New York close. This means that trading will always start at 00:00 on the platform.  A daily rollover then occurs on each day at the same time. This avoids what is known as the ‘weekend candle’: which would usually appear on Sundays with a daily chart using GMT based platform.

Are there any forex trading restrictions?

All legal forex trading methods are supported by FP Markets Forex including scalping, hedging and EAs.

Is there a customer support service?

FP Markets Forex is very proud of its customer service support, which is available 24hrs a day and five days a week. It opens at 7am AEST on Monday morning and ends at 7am AEST on Saturday morning. There is a toll free number available: 1300 376 233. Alternatively, for international calls, simply dial +61 2 8252 6800. Or, if you prefer, you can contact our live support online, which is available 24hrs a day throughout the customer service period outlined above.

 

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Need Assistance?

If you require information about any of the products or services we offer, please don’t hesitate to contact a First Prudential Markets representative on 1300 376 233 (Aus) / +61 2 8252 6800 (Int)  or Email Us.