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When opening an account in FP Markets, you need to complete the verification process. This includes uploading personal documents. Here is the tutorial.
FP Markets is a trusted Australian broker that has been in business since 2005. The company is regulated by several top-tier authorities such as ASIC and is known to provide high-quality trading services for both beginners and professional traders. It offers no less than 10,000 tradable instruments and loads of investment opportunities like MAM and PAMM.
To start trading with FP Markets, the first thing you need is a trading account. Getting one is pretty easy, considering that the whole process is relatively quick and fully online. After filling out the registration form, you'll be asked to provide some personal documents to complete the verification step, which is necessary to ensure the broker and client's safety in accordance with the regulations. Using a verified account also grants you full access to the broker's service, further enhancing your experience as a trader.
In FP Markets, there are two types of documents that you'll need to provide for the verification process, namely:
- Proof of Identity: Valid travel passport, national ID card, or driving license
- Proof of Residence: Recent utility bill or recent bank statement
If you want to learn more about how to verify your account in FP Markets, read the article below.
Required Documents for Verification
During the verification process, you will be asked to provide a digital copy of several documents that contain your personal information such as full name, nationality, and residential address. The broker will then assess the submitted documents to make sure that you are not a scam. The process may take a few moments to complete.
In FP Markets, there are two types of documents required for the verification process:
1. Proof of Identity
This document is needed to verify your identity. You can choose to provide one of the following documents:
- Valid Travel Passport
- National ID Card
- Driving License
Please note that the document must contain information such as your full name, issue date, and your photo. Additionally, make sure that your full name must match the name of your account in FP Markets. If the document already contains your full residential address, then a separate Proof of Residence will NOT be required.
See Also:
2. Proof of Residence
This document is needed to verify where you live. Thus, the document must contain your full residential address and must have been issued in the past 6 months. The following are the document types that you can provide:
- Recent Utility Bill
- Recent Bank Statement
- Recent Internet/Mobile Bill
Furthermore, before uploading the documents, make sure to meet all the following requirements:
- You are 18 or above or considered at legal age in the country of residence.
- The accepted file types are JPEG, PNG, JPG, and PDF.
- If the document is two-sided, you are required to upload both sides. Make sure that all four corners are visible
- The document must be issued by a government authority.
- The document must be in your name and not expired. Check the issue date before uploading.
Steps to Verify Account in FP Markets
- Head over to FP Markets' official website and log in to your secure Client Area using your email and password.
- In the Client Area, click "Profile" on the left side menu and select "Document Upload".
- You will be directed to the following page where you will have the option to upload your Proof of Identity and Proof of Residence. Specify the document category and click the "Browse" button to upload your file.
- Once you're done, click "Submit".
- If you happen to have a corporate account in FP Markets, simply choose "Corporate Documents" from the drop-down menu and proceed to the next step.
- After that, your documents will be reviewed by FP Markets' Onboarding team. You will be notified via email of the status of your account – whether your account is approved or if any additional document is needed.
- Alternatively, you can also send your documents to the broker's email just in case you are unable to upload the documents on the website. Just click the "Email Docs" button or you can just send the email to [email protected].
In general, the verification process in FP Markets can take up to 1 business day to complete, so please stay updated and occasionally check your email for the status of your account. If you encounter any problem while uploading the documents, do not hesitate to reach out to customer support either via email, live chat, or phone.
FP Markets is a trusted global broker offering more than 10,000 CFD products across forex, shares, indices, commodities, and cryptocurrencies. This broker supports low commissions and tight raw spreads from 0.0 pips that are made possible by their partnership with leading banking and non-banking financial institutions.
5 Comments
Arnold
Oct 12 2023
Nice article! I've been considering to sign up with FP Markets, but to be really honest, I'm quite concerned with the verification process because I'm not sure if it's fully safe to send a copy of my personal documents to a trading company, especially one that operates outside of my home country.
That being said, I'm wondering whether it's possible to trade with an unverified account or is it mandatory to complete the process before making a trade? Are there any special privileges that only granted to verified users? I want to simply understand the pros and cons of completing the process before opening an account. It would be great to know what to expect beforehand. Thanks for the help by the way :)
Olivia
Oct 12 2023
I fully understand your concern dude. I was hesitant too when I first started my trading journey. However, I can assure you now that the verification process is necessary and completely safe but ONLY IF you are trading with a fully regulated broker. If you didn't know already, the account verification or Know Your Customer (KYC) procedure is a part of the anti-money laundering and counter-terrorism financing act imposed by financial regulators. So in compliance with the authority, it is actually mandatory for a regulated broker like FP Markets to require their clients to verify their accounts.
In FP Markets, I believe you need to complete the verification process in order to access the full feature of the broker. For instance, you won't be allowed to withdraw any money from your balance if your account has not been verified. This can hugely affect your experience, so if you're still unsure, I highly recommend you to get the verification done as soon as possible so that you can focus on your trades.
Tata
Oct 13 2023
This is why it is highly crucial to pick the right broker to trade with. It is really something that you shouldn't undermine. ALWAYS prioritize safety over bonuses, trading fees, or others. You can think about the rest after you know for sure that the company is safe.
The easiest way to do it is to make sure that company is regulated and don't forget to double check the license number on the regulator's website as well. Read and understand their terms and conditions, especially when it comes to security measures. Moreover, consider signing up with a broker that's regulated by your local authorities. For example, if you live in Australia, trade with ASIC-regulated brokers, and so on. This would guarantee the safety of your funds and make your trading experience even more smooth.
Madeline
Oct 12 2023
I don't know much about this broker in particular but I'm willing to learn more after reading this article. From what I gathered, the verification process seems to be easy enough to follow, even for beginners like me. You basically just need to upload the documents and wait for the broker's approval. The estimation time is also quite impressive. Most brokers I know would normally take about a few business days to process the submitted documents, but FP Markets only need up to one business day.
I'm quite curious though, does this broker implement other security measures aside from the kyc verification? If so, what are they? Thank you for the help.
Adit
Oct 13 2023
Of course. FP Markets is considered a safe broker to trade with and it offers several safety measures to keep their clients' funds well-protected. Some of them are. First of all, the broker is regulated by not one but several regulators, including ASIC of Australia, CySEC of Cyprus, and FSA of St. Vincent and the Grenadines. Apart from that, it also offers negative balance protection for all clients under CySEC along with an additional 20,000 EUR protection balance (the investor protection amount may differ from country to country).
Additionally, FP Markets also offers a number of risk management tools such as stop loss order, take profit order, and trailing stops. You can use these tools to develop your risk management strategy to keep your loss at minimum.