Austin Pips

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FAQ

Stay up to date with critical market information courtesy of Austin Pips Daily Market Report. Multiple time zones mean that global markets operate around the clock, making it difficult to be well-informed across the financial markets that affect forex trading. Our daily report aims to solve that problem and is a great way to prepare for the upcoming trading day.

How do I start trading?

Before you can start trading, you need to:

  • Open your trading account (your first Real account will be created by default)
  • Verify your profile
  • Make a deposit
  • All that’s left is to start trading on your preferred platform
What account types do you offer?

We offer a wide range of account types to meet the needs of all traders.

For Real accounts, we offer Standard, Micro, Ultra Low Standard, Ultra Low Micro, and Shares account types.

For Demo accounts, we offer Standard and Ultra Low Standard account types.

For more information on the accounts available and the differences between them

How long does Austin Pips store my personal information for?
We store your personal data for as long as we maintain a business relationship with you, or for as long as we consider the data to be necessary for the purpose for which it was collected.

There are however cases where we may have to maintain records for a longer period, as we are subject to anti-money laundering laws, which require us to keep certain information for up to 5 years after our business relationship has ended, including:

  • A copy of the documents used, to comply with customer due diligence obligations
  • Any supporting evidence of our transactions and business relationship with you
  • Additionally, any recorded communications, whether they be by telephone, electronically, in person, or otherwise, are stored in accordance with local regulations.

For more details, refer to our Privacy Policy.

How do you protect my personal information?

We respect your right to privacy, and we’re committed to taking all reasonable measures to safeguard your personal information. That applies whether you’re a new or existing client, or just a visitor to our website.

We store and process your personal information in accordance with all applicable data protection laws and regulations, and we maintain appropriate technical and organisational procedures to ensure your information always remains secure.

All our employees receive regular training to ensure they understand the importance of maintaining, safeguarding, and respecting your privacy, and we take any breaches extremely seriously. In cases where such breaches may occur, we act quickly with appropriate disciplinary measures.

Any personal information you provide is also transmitted across encrypted channels, and all necessary measures are taken to prevent unauthorised access.

Nonetheless, it is your own personal responsibility to ensure your account password is known only to you and not disclosed to any third parties.

What is the minimum I can deposit or withdraw?
The minimum deposit or withdrawal amount for any account type is $100.

However, the minimum amount varies depending on the payment method.

Can I withdraw money whenever I want?
Yes, if your account is verified, you can request a withdrawal for your available balance at any time.
How long does it take to receive money after making a withdrawal?
Withdrawal requests are processed instantly by our Artificial Intelligence Back Office System, based on algorithmic parameters. You’ll receive your money immediately, or on the same day your request is executed. Withdrawals via bank wire, credit or debit card usually take 2-5 business days to reach your account.
Is the money I deposit with Austin Pips safe?

The security of your funds are our top priority and thus several measures are in place:

Segregation of client funds: all client funds are held in segregated accounts, separate from the company’s own, meaning in the event of insolvency, your money is protected.

Reputable banking partners: all client and operational funds are held in accounts with highly reputable global institutions.

Are swaps charged on futures contracts?

No, there are no overnight charges when trading futures contracts.

Do you charge commission or extra fees?

No, we don’t charge any commission or extra fees. The only thing you pay is the spread, which you can see before opening or closing a trade.

Do I need to pay tax on US equity derivatives?

Yes, you may need to pay tax when trading US equity derivatives, following regulations issued by the US Internal Revenue Service (IRS). Under section 871(m) of the US tax code, all non-US resident holders of US equity derivatives are required to be taxed on dividend income derived from trading said instruments.

Can I lose more than what I’ve deposited?

No, we offer Negative Balance Protection (NBP) to all clients, meaning you can never lose more than what you’ve deposited.

Can I partially close an open position?

Yes, you can partially close an open position across any of our account types.

However, any position sized below the minimum volume can’t be partially closed and must be closed in its entirety.

Do you allow hedging?
Yes, you are free to hedge positions on any of your trading accounts, but not between two different accounts. Hedging is when you simultaneously open a long and short position on the same instrument.

When hedging Forex, Gold and Silver, positions can be opened even when the margin level is below 100%. This is because the margin requirement for hedged positions is zero.

When hedging all other instruments, the margin requirement for the hedged position is equal to 50%. New hedged positions can be opened if the final margin requirement is equal to or less than the total equity of your trading account.