Look a broker up before you trust it

Ten quick answers

Does FP Markets hold a licence?
It does. FP Markets is supervised by ASIC, CySEC, FSCA, FSA Seychelles, and its licence number is AFSL 286354 (ASIC). You can look that number up on the regulator's own public register.
How much do I need to open a FP Markets account?
FP Markets asks for a first deposit of at least $100. Certain account types may require more, so confirm the current amounts on the broker's official website.
Can I trust FP Markets with my money?
FP Markets has been trading since 2005 and is regulated by ASIC, CySEC, FSCA, FSA Seychelles. Before you deposit, check on the regulator's public register that the licence is still valid, and put in only money you can afford to risk on leveraged products.
Can US residents open an account with FP Markets?
No. Because of US regulatory requirements (CFTC/NFA), FP Markets is not taking clients who live in the United States at present.
How much leverage does FP Markets offer?
The highest leverage at FP Markets is 30:1 retail (ASIC / CySEC) / 500:1 offshore. The limit for retail clients depends on where the account is regulated: under tier-1 regulators (FCA, ASIC, CySEC) it is lower than under offshore regulation.
Can I use MetaTrader 4 or MT5 with FP Markets?
Yes. MetaTrader 4 and/or MetaTrader 5 are available at FP Markets next to its other platforms.
Which trading platforms can I use at FP Markets?
At FP Markets you trade through MT4, MT5, cTrader, TradingView, FP Markets app. Where applicable, each of these comes in a desktop and a mobile version.
How quickly does FP Markets pay out withdrawals?
How long a FP Markets withdrawal takes depends on the payment method and on the company that holds your account. Your KYC verification has to be finished first, and the broker's payments page gives the current processing times.
Will FP Markets charge me for withdrawing?
That depends on the payment method and on the company that holds your account. A payment processor or bank may also add a fee of its own, which the broker does not control. The broker's payment terms give the current details.
Does FP Markets have a demo account?
Yes. FP Markets provides a demo account at no cost. It is loaded with virtual funds, so you can try the platform, practise your strategies and look around the available markets before you risk real money.