How to Withdraw Money from FP Markets - Updated 2024 (2024)

Editor’s Verdict

While many retail traders never make it to the withdrawal phase of trading, given high loss rates, reliable and competitive brokers ensure they maintain a user-friendly and swift withdrawal process. A high-quality withdrawal process includes a choice of payment processors, numerous withdrawal currencies, fast processing times, and no internal fees.

FP Markets maintains 18 withdrawal options and supports 30+ currencies, including several free options and cryptocurrencies. There is no FP Markets minimum withdrawal amount, meaning any limits depend on the third-party payment processor.

We have outlined the details of the FP Market withdrawal process, including available payment processors, supported currencies, and withdrawal times. Find out why FP Markets ranks among the leading brokers for ease of withdrawing your profits, in addition to examining the updated FP Markets broker review.

Ratings

FP Markets Withdrawal at a Glance

The withdrawal process usually follows the deposit path, featuring an equally hassle-free experience. While this sounds simple, there are notable differences between brokers. The choice of payment processors presents the most visible difference. Every broker supports bank wires and credit/debit cards, but some restrict card withdrawals. FP Markets offers 18 withdrawal payment processors, including e-wallets and cryptocurrencies, which support 30+ currencies, making currency conversion fees less likely for its core markets.

Most deposits are instant, but withdrawals may take more time. FP Markets aims to process each request within 24 hours, ensuring clients get their profits as soon as practical. Some payment processors feature instant processing once FP Markets honors a withdrawal request. Some withdrawal options at FP Markets are free of charge, while others carry a levy, often percentage-based on the withdrawal amount. There is no FP Markets minimum withdrawal amount, granting traders the freedom to handle their finances as they wish. Payment processors may apply a minimum, which is usually a small amount.

FP Markets maintains a withdrawal hierarchy, meaning that each withdrawal must follow the deposit method in the deposit order, matching the deposit amount, beginning with credit/debit cards. After traders withdraw 100% of their deposits, they can choose any registered deposit methods for profit withdrawals. The name on the payment processor must match the account name.

FP Markets Withdrawal Options

While FP Markets maintains 18 withdrawal options, not all are available to every trader, dependent on their geographic location. The secure back office will list all payment processors a trader can use. All clients can use bank wires, but they are the slowest and most expensive withdrawal options, which FP Markets lists as free. Unlike some brokers who restrict credit/debit card withdrawals, FP Markets does not only allow them but prioritizes them in their withdrawal hierarchy.

Due to their low transaction costs, fast processing times, and usage for follow-on transactions, e-wallets rank among the most preferred payment processors for Forex traders, where FP Markets maintains over a dozen choices, including localized options for their core markets.

FP Markets offer the following withdrawal options:

• Bank wires (domestic and international)
• Credit/debit cards (Visa and Mastercard)
• Neteller
• Skrill
• FasaPay
• PayTrust
• Dragonpay
• Perfect Money
• LetKnowPay
• Finrax
• SticPay
• Rupee Payments
• Rapid Transfer
• Virtual Pay
• Xpay
• Luqapay
• Pagsmile
• Pay Retailers

The withdrawal time at FP Markets for most payment processors is one business day, and most e-Wallets have instant processing times once FP Markets releases funds. An FP Markets minimum withdrawal amount does not exist, making it dependent on the selected payment processor, where e-wallets usually have small requirements as low as $1.

Below are the steps to withdraw money from FP Markets:

1. Log into your secure client area.

2. Navigate to Funding from the left side menu, followed by Withdraw.

3. From the Method of Withdrawal drop-down menu, you can choose your withdrawal method. You can select the trading account from where you wish to request the transaction.

4. Specify the amount you want to withdraw (make sure you have sufficient free margin to cover your withdrawal) and click the Submit button.

5. FP Markets will process the request within 24 hours and send an e-mail once processed. Your payment processor will notify you once the funds arrive, usually via e-mail, text message, or app.

FP Markets Withdrawal Fees

Brokers usually never charge for deposits, but withdrawals often carry fees. While bank wires and credit/debit cards are the most expensive means to transact, FP Markets lists them as commission-free, but third-party costs may apply. Therefore, traders should check with their banks, as they could remain the costliest withdrawal options.

Currency conversion charges may also apply, depending on the account base currency and the currency of the payment processor. Traders who require an additional transaction from their payment processor should also check transaction costs or fees from their e-wallet to their bank account to calculate the lowest option while considering how they plan to use their FP Markets withdrawal.

Below are details about the withdrawal fees for each FP Markets withdrawal method:

• Bank wires - Commission-free
• Credit/debit cards - Commission-free
• Neteller - 2.0% up to $30 plus country fees (if applicable) per $45,000 transaction
• Skrill - 1.0% plus country fees (if applicable)
• FasaPay - 0.5%
• PayTrust - 1.5%
• Dragonpay - 1.5%
• Perfect Money - 0.5%
• LetKnowPay - Blockchain fees
• Finrax - Blockchain fees
• SticPay - 5.0% for bank wire and 2.5% for e-wallet
• Rupee Payments - 5.75%
• Rapid Transfer - 1.0%
• Virtual Pay - 2.0%
• Xpay - 1.5% (Commission-free for TBH transfers)
• Luqapay - 3.0%
• Pagsmile - 3.0%
• Pay Retailers - 2.5%

The average withdrawal time for the FP Markets withdrawal methods:

• Bank wires - Up to five business days
• Credit/debit cards - One business day
• Neteller - One business day
• Skrill - One business day
• FasaPay - One business day
• PayTrust - One business day
• Dragonpay - One business day
• Perfect Money - One business day
• LetKnowPay - One business day
• Finrax - One business day
• SticPay - Instant (e-wallet) and one-to-two business days for bank wire
• Rupee Payments - One-to-two business days
• Rapid Transfer - One-to-two business days
• Virtual Pay - One business day
• Xpay - One business day
• Luqapay - One business day
• Pagsmile - One business day
• Pay Retailers - One business day

FP Markets supports the following withdrawal currencies:

• Bank wires - AUD, USD, EUR, GBP, SGD, CHF, CAD, NZD, JPY, HKD, PLN
• Credit/debit cards - CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD, CZK, PLN, AED
• Neteller - AUD, CAD, CHF, EUR, GBP, JPY, INR, BRL, SGD, USD
• Skrill - AUD, CAD, EUR, GBP, INR, USD, BRL
• FasaPay - USD, IDR
• PayTrust - MYR, IDR, VND
• Dragonpay - PHP
• Perfect Money - USD
• LetKnowPay - ADA, BCH, BTC, DASH. ETH, LTC, PAX, XRP, TUSD, USDC (ERC20), USDT (ERC20), USDT (TRC20), ZEC
• Finrax - BTC, BCH, LTC, ETH (ERC20), USDT (ERC20), XLM, LINK (ERC20), XRP
• SticPay - JPY, EUR, GBP, USD, HKD, TWD, KRW, SGD
• Rupee Payments - INR
• Rapid Transfer - EUR, DKK, SEK, HUF, GBP, PLN, NOK
• Virtual Pay - KES, UGX, TSH
• Xpay - IDR, MYR, THB, VND
• Luqapay - TRY
• Pagsmile - BRL, CLP, COP, PEN, MXN, USD
• Pay Retailers - BRL, CLP, MXN, PEN

Bottom Line

Traders at FP Markets have 18 withdrawal options supporting 30+ currencies, including localized solutions for their core growth markets. Internal withdrawal processing times are usually 24 hours, and an FP Markets minimum withdrawal amount does not exist. Most e-wallets have instant processing once FP Markets completes the withdrawal, but some can take several business days. Traders should carefully consider third-party processing costs and potential currency conversion fees before selecting the most suitable option.