If you have read our FP Markets review, you will know that they make a range of account types available.
Within these account types, one of the key factors you have to consider is the minimum deposit and how it applies to your trading style.
That is why we have conducted a thorough review of the FP Markets minimum deposit and how it is applied over a range of different funding methods and account types.
This should help you as a trader to select the best deposit method and account type depending on the minimum amount available.
FP Markets Base Currency
First of all, it is important to note that FP Markets makes a wide selection of base currencies available. These include EUR, USD, GBP, AUD, CAD, SGD, CHF, HKD, JPY, and NZD.
This is an extensive range that caters well for almost every trader no matter where you are located.
FP Markets Funding and Deposit Methods
As you would expect from a top forex broker, FP Markets offers a very good selection of deposit methods for you to choose from. Let’s take a more detailed look at each deposit method available.
The FP Markets minimum deposit using a wire transfer is 100 Australian Dollars or the equivalent in your chosen account currency. Typically, if you choose to fund this amount with a local bank, then no fees will be applied. This could change if you are funding from an overseas bank.
The processing time for this FP Markets deposit type is usually one business day.
Credit and debit card funding options are available with FP Markets through both Visa and Mastercard. The minimum deposit in this case again stands at 100AUD.
No fees are applied if you are funding a Metatrader account. In the case of IRESS accounts though, a 1.6% domestic funding fee, and 3.18% international funding fee applies. This funding process is typically instant in the case of Metatrader accounts, and takes up to one business day with IRESS accounts.
eWallet deposit and withdrawals are well facilitated by FP Markets. Both Neteller and Skrill are employed to take care of this with a 100 AUD minimum deposit in place.
Funding in this manner is typically fee-free from the broker side, and again, deposits for the funding of Metatrader accounts are typically instant, while the funding of IRESS accounts takes up to one business day to complete.
There are several other funding methods available for your FP Markets account. These will depend on your location. POLI, BPAY, and Fasapay are widely available.
If you are based in Asia then Online Pay as well as the services Paytrust88, and Ngan Luong are accessible.
The same general rules apply in regard to the deposit processing time. The FP Markets minimum deposits here are not stated but will typically vary.
FP Markets Minimum Deposits
As per the others forex trading low minimum deposit brokers, as well as depending on the funding method, the minimum deposit which applies to you will depend on the account type you are using.
Let’s take a more in-depth look at the minimum amount on each account type.
Standard Account (MetaTrader)
The FP Markets Standard Account with Metatrader is a commission-free forex account. In this case, the minimum deposit is 100 AUD or equivalent amount in your trading currency.
Raw Account (MetaTrader)
The FP Markets Raw Account operated through Metatrader is again a forex account, on this occasion with very low spreads but they do apply a commission charge. The minimum deposit here is again 100 AUD or equivalent.
Standard Account (IRESS)
The FP Markets Standard Account through IRESS is used by many traders who wish to trade equities through the proprietary FP Markets trading platform. Here, a monthly fee is charged based on the profits you have made, and a minimum commission of 10 AUD is applied.
The FP Markets minimum deposit for this account type is 1000 AUD or equivalent currency.
Platinum Account (IRESS)
Again this account type is used by traders wishing to trade equities through the FP Markets proprietary platform. As with the standard IRESS account, a monthly profit-based fee is charged along with a minimum commission of 9 AUD.
Within this account type, an FP Markets minimum deposit amount of 25,000 AUD or equivalent is required.
Premier Account (IRESS)
The FP Markets Premier IRESS Account is their top-tier account for those wishing to trade equities. The platform is the FP Markets proprietary trading platform and there are no platform fees charged at this level. There is also no minimum commission in place.
The FP Markets minimum deposit for this account type is 50,000 Australian Dollars or your equivalent base currency.
FP Markets Deposit Bonus
At present, there are no FP Markets trading bonus or no deposit bonus on offer.
Previously the broker had offered a 20% deposit bonus and a $30 no deposit bonus. These are no longer available. This is likely in line with regulatory requirements around the world which are becoming more stringent.