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FPMARKETS: Are my funds held in segregated bank accounts?
Source:https://www.fpmarkets.com/education/faq/ | Author:finance-102 | Date2023-04-14 | 146 Views | Share:
No, both Proof of Identity and Proof of Residency documents are required in order to approve your application. Proof of Identity - a coloured copy of your travel passport containing your photograph, full name, valid expiry date and your signature. (If no valid passport is available, please upload a similar identification document such as a National ID card or Driving license) Proof of Address - a recent utility bill (e.g. electricity, gas, water, waste disposal, Internet or a Bank Statement) dated within the last 6 months and confirming your name and the registered address.


Yes. Regulations require the company to be adequately capitalized and ensures that client funds are held in line with Australian Client Money Laws, and are not used for hedging purposes. This means that client funds are not only held separately from the company’s funds in segregated client trust accounts with leading Australian banks, ASIC also requires that all funds are reconciled each day. Therefore, in the unlikely event that there were to be an issue with the company, clients’ funds would remain separate (and protected) so that funds can be returned to clients. To add further protection for clients, the company has a policy of maintaining twice the required regulatory capital.


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