What Account Types and Fees Does Webfox Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low minimum deposit, user-friendly platform |
Suitable for new traders looking to practice |
| Professional Account |
Experienced and high-volume traders |
Lower spreads, higher leverage |
Requires proof of trading experience or capital |
| Corporate Account |
Corporate clients and institutions |
Customized services, dedicated account management |
Requires corporate documentation and minimum deposit |
| Islamic Account |
Traders requiring swap-free options |
No overnight interest, compliant with Sharia law |
Available upon request |
| Demo Account |
All traders for practice |
Virtual funds for risk-free trading |
Ideal for testing strategies without real money |
Account Opening Process
To open an account with Webfox, follow these steps: first, provide personal information such as your name, email, and phone number. Next, submit your employment information, including your occupation and employer details. After that, you will need to provide financial information to assess your trading experience and risk profile. Identity verification is required, which involves submitting a government-issued ID and proof of address, such as a utility bill. Webfox offers account flexibility, allowing you to upgrade to a professional account later if you meet the necessary criteria.
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 for minor pairs |
| CFDs (Stocks) |
0.1% |
$0 (Flat fee) |
Varies by stock |
| CFDs (Commodities) |
0.5% |
$0 (Flat fee) |
Standard spreads for commodities |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
Webfox may charge various additional fees, including deposit and withdrawal fees which can vary by payment method. An inactivity fee may apply if an account remains dormant for an extended period. There might be platform usage fees depending on the service level chosen. Overnight interest (swap rates) apply for positions held overnight, and currency conversion fees may apply when trading in different currencies.
