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General FAQ's

Trade with FPG, experience excellence and realise your potential.

What is Forex Trading?

How to Trade Forex?

Why Trade Forex?

Product Sheet

General FAQ’s

Technical FAQ’s

Deposit/Withdrawal FAQ’s

Trading Glosary

General FAQs

We are here to help you!

Below you will find a list of answers to your Forex trading questions.

 
How do I open a live account?

Please use the following link here to begin your live account application.

If you need further support, hop onto our live chat below!

Is it free to open a live account?

Yes!!! There are no hidden fees or charges associated with opening a FPG live account.

Please use the following link here to begin your live account application.

How soon can I start trading?

If you have successfully completed our registration process, funded your account and we are able to verify your identity, then you can start trading in minutes.

However, we recommend speaking to one of our Account Managers first.

How do I open a demo account?

Please use the following link here to begin your demo account application.

Is it free to open a demo account?

Yes!!! You are under no obligation to fund your account.

Please use the following link here to begin your demo account application.

I am interested in forex trading but would like some additional information. Any suggestions?

In order to gain a practical understanding of foreign exchange trading, there is no better way than to open a forex demo account, where you can experience what it’s like to trade the forex market without risking any capital.

Are you regulated?

Yes! We are regulated by ASIC and we hold an Australian Financial Service License (AFSL: 400364). You can check our details on the professional registers page of the ASIC Connect website.

What personal documents are required to verify my account?

Customers are required to verify their accounts for identification and security purposes in accordance with our customer due diligence process, for example the verification of your name, date of birth, residential address, phone number, email address and payment method.

You may be required to provide us with valid and reliable identification documentation such as a Drivers License, Passport, Bank Statement etc.

What is the maximum leverage I can have?

The maximum leverage is currently 30:1, please refer to our product sheet for further information.

Why do I have to provide you with my personal documents?

At FPG, we take our responsibilities under Australian Law and to you our customer very seriously. We need to conduct checks to ensure that our clients are who they say they are. This helps protect both clients and us as a company.

Setting up an account with FPG is no different to setting up a bank account or applying for a credit card.

What happens if you hold a position/s overnight?

When you hold a position or positions overnight in a margin FX contract or CFD (other than a future based CFD) they will be rolled to the next business day, which will result in you paying a swap charge or receiving a swap benefit. This is a varying rate dependent upon the applicable rate in the relevant market, the duration of the rollover period etc.

To learn more, please refer to our Product Disclosure Statement.

Can I lose more than my cash balance?

No. FPG offers Negative Balance Protection. Meaning there will never be a situation where you have a negative account balance.

To learn more, please refer to our Product Disclosure Statement.

Can I lose more than my cash balance?

No. FPG offers Negative Balance Protection. Meaning there will never be a situation where you have a negative account balance.

To learn more, please refer to our Product Disclosure Statement.

What are the costs that I need to be aware of when trading with FPG?

The main costs associated in operating an account with FPG are the Spread and Swap. Please refer to our Product Disclosure Statement which contains a full list of our fees and charges.

The Spread is the difference between the BID and the ASK (Spread = Bid-Ask). FPG offers clients ultra-low spreads. Spreads vary from instrument to instrument and vary on the amount of liquidity in the market. The Spread is a small cost you pay when you open up a trade.

When you hold a position/s overnight in a margin FX contract or CFD (other than a futures based CFD) they will be rolled to the next business day, which will result in you paying a swap charge or receiving a swap benefit. This is a varying rate dependent upon the applicable rate in the relevant markets, the duration of the rollover period etc.

Can I trade using an EA’s (expert advisor) or trading robots with the platform?

Yes. You can use EAs (Expert Advisors) available from third-party providers. FPG is not associated with any of these providers, we cannot provide additional support for these automated strategies and suggest you contact the source directly should you experience any difficulties related to settings or methodology.

Can I trade micro lots?

Yes, you can trade a minimum lot size of 0.1 on margin FX.

How long do I need to hold a position open for?

You can open and close your positions as often as you like. There are no minim or maximum time limitations.

What currency pairs do you offer?

We have over 30 currency pairs on our platform and are still expanding the list from time to time.

Please refer to our product sheet for further information.

I have lost my password, can you reset it for me?

The best thing to do is to select “forgotten password” on the login page. The client portal will provide you with the necessary steps to reset your password.

Is my money safe with you? Where is my money held?

Your Money is safe as it is held in a segregated client trust account with the National Australia Bank.

If you wish to learn more about how we handle client money, please refer to our Product Disclosure Statement.

Do you use my money for hedging or any other purpose?

No. FPG does not use client money for any purpose, including meeting obligations incurred by us when hedging with other counterparties.

If you wish to learn more about how we handle client money, please refer to our Product Disclosure Statement.

If I trade with FPG, will I receive a dedicated Account Manager?

Yes. Our team of Account Managers are committed to providing you with the highest level of customer service. We regularly call our clients to discuss potential trading opportunities, their trading experiences or just to lend a helping hand. We understand that you have choices when it comes to online trading and we value your business.

Do you accept US Clients?

No. FPG prides itself on being a Global FX trading firm welcoming clients from across the globe. Sadly, the US Commodity Futures Trading Commission (CFTC) regulation prevents US clients trading with non-US brokers. FPG strictly complies with all International and Australian regulations and thus at present we are unable to accept US clients.

How long can I keep my account inactive?

Accounts are never permanently closed down due to inactivity, however after 12 months of no activity on the accounts they will be temporarily archived. If you need to access your account again, simply contact [email protected]

Please note that we may ask you to provide additional identification and verification documentation.

What are the benefits of trading with a regulated company?

One of the benefits of trading with a regulated company is that you know you are trading on a reliable and reputable platform in a regulated environment, which has stringent rules and regulations designed, in particular, to protect the interests of clients.

Can I get some advice from FPG?

FPG provides a designated account manager for all our traders which is a distinct competitive advantage. Many brokers simply provide a platform to trade with, with no continual support. The added advantage of having an Account Manager is to have a committed and knowledgeable individual with trading experience to assist any trader with a variety of queries and challenges.

Our Account Managers educate traders on a variety of topics in the Forex market including but not limited to risk management, fundamentals and technical analysis and provide factual guidance on the market.

At FPG we provide General Advice only. It is the responsibility of the Trader to determine if this advice is appropriate with consideration to your personal situation and needs and you need to decide if this is suitable for you before trading.

Still cant find what you are looking for?

Looking for more FAQs? Click below!

You can also contact our friendly team on +61 3 9917 5819 or pop onto our live chat at bottom of the page.

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