FP Markets Account Type

FP Markets offers a range of Islamic (swap-free) account types designed to cater to Muslim traders. The primary account types available are:

• Islamic Standard Account
• Minimum Opening Balance: $100 AUD or equivalent
• Spreads: From 1.0 pips
• Instruments: 70+ forex pairs, metals, indices, commodities
• Max Leverage: 500:1
• Execution: ECN-pricing
• Commission per Lot: Zero
• Minimum Trade Size: 0.01 lot
• Islamic Raw Account
• Minimum Opening Balance: $100 AUD or equivalent
• Spreads: From 0.0 pips
• Instruments: 70+ forex pairs, metals, indices, commodities
• Max Leverage: 500:1
• Execution: ECN-pricing
• Commission per Lot: $3 per 100,000
• Minimum Trade Size: 0.01 lot

Both account types allow traders to engage in swap-free trading, ensuring compliance with Islamic finance principles.

FP Markets Broker Account Opening Process

To open an Islamic account with FP Markets, follow these steps:

• Open a Trading Account:
• Choose either a MetaTrader 4 or MetaTrader 5 account.
• Request Conversion to Islamic Account:
• Email your account number to FP Markets and request for it to be converted to an Islamic account.
• Provide Proof of Faith:
• Include an official document confirming your Islamic faith (e.g., a letter from your mosque) if it is not visible on your ID document.
• Wait for Confirmation:
• After submitting your request and documentation, wait for confirmation from the onboarding team.

This process ensures that your account meets the requirements for Islamic trading while allowing you to trade without incurring swap fees.