FP Markets has announced that from the 5th of October new legislation relating to the design and distribution of financial products will take effect.

The legislation aims to ensure that these financial products are issued and distributed to an appropriate retail client audience.

How will the new legislation impact you?

Under the new design and distribution rules, First Prudential Markets Pty Ltd “FP Markets” may only issue and distribute Contracts for Differences “CFDs” to you, if you fall within its target market.

FP Markets refers you to its Target Market Determination (“TMD”) for CFDs, which is available here.

In general, FP Markets considers that the target market for CFDs to be suitable for individuals or entities that;

  • are pursuing a profit through speculative trading;
  • are seeking to hedge their exposure of other investments;
  • have sufficient knowledge and experience with leveraged derivative products (FX, CFDs, Options);
  • have a higher risk tolerance;
  • are able to bear a loss without impacting their financial wellbeing

If you require further information in relation to the target market (including the likely objectives, financial situation and needs) and Clients for whom CFDs are unsuitable, please refer to FP Markets’ TMD.

Go to FP Markets Official Website

How to open FP Markets Forex Trading Account?

When will new legislation happen?

FP Markets has sent out an email regarding this new legislation with a direct link for traders to “Acknowledge” the TMD.

A link is displayed at the bottom of FP Markets email, by clicking on ‘Acknowledge’ you agree that you have read and understood FP Markets’ Target Market Determination, and confirm that you fall under one or more of the Target Market Criteria as set by FP Markets.

Once you have confirmed you fit into one of the categories listed in the full TMD, you will be able to continue to trade as normal.

If you do not fall under at least one of the target market classifications, you may not be suitable to trade FP Markets’ CFDs and the broker may place your account on close-only status.

This means you will not be able to trade or execute any pending orders or place any new orders.

Open FP Markets Account

We recommend that you consider your personal circumstances carefully and seek professional advice if necessary, before making any decision to confirm you fall within FP Markets’ TMD.

Find out more about FP Markets direct cashback account.