What Account Types and Fees Does First Securities Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low minimum deposit, user-friendly interface |
Ideal for small-capital trading |
| Professional Account |
Experienced traders |
Higher leverage, advanced trading tools |
Requires a minimum trading volume |
| Corporate Account |
Corporate clients |
Customizable trading solutions, dedicated support |
Requires corporate documentation |
| Islamic Account |
Islamic traders |
Swap-free trading options |
Must comply with Islamic finance principles |
| Demo Account |
All traders |
Practice trading with virtual funds |
No risk involved; suitable for strategy testing |
Account Opening Process
To open an account with First Securities, you will need to follow a straightforward process. Start by submitting your personal information, including your name, address, and contact details. Next, you will provide employment information and financial details to help assess your trading profile. Identity verification is an essential part of the process, requiring you to submit a government-issued ID and proof of address. Once your documents are verified, your account will be activated. Additionally, you have the flexibility to upgrade to a professional account later if your trading volume increases or if you meet other eligibility requirements.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| Forex (GBP/USD) |
1.0 |
$0 (ECN: $3.5/lot) |
Competitive rates |
| CFDs (Stocks) |
0.1% |
$0 |
No commission on stock CFDs |
| CFDs (Indices) |
0.5% |
$0 |
Market-leading spreads |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
First Securities may charge various additional fees, including deposit and withdrawal fees that depend on the payment method used. Inactivity fees might apply if your account remains dormant for an extended period. While there are no platform usage fees, be aware of any overnight interest (swap rates) that may apply to leveraged positions. Additionally, currency conversion fees may occur when trading in different currencies.
