What Account Types and Fees Does FIC Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low minimum deposit, access to major trading instruments |
Suitable for small capital practice |
| Professional Account |
Experienced traders |
Higher leverage, advanced trading tools, lower spreads |
Requires verification of trading experience and capital |
| Corporate Account |
Corporate clients and institutions |
Customizable features, multiple user access, dedicated support |
Requires corporate documentation |
| Islamic Account |
Muslim traders |
Swap-free trading, compliant with Sharia law |
Available upon request, requires documentation |
| Demo Account |
New traders and those testing strategies |
No risk, practice trading with virtual funds |
Available to all users |
Account Opening Process
To open an account with FIC, users need to follow these steps:
1. Submit personal information, including name, date of birth, and contact details.
2. Provide employment and financial information to assess trading experience and risk profile.
3. Complete identity verification by submitting a government-issued ID and proof of address (e.g., utility bill).
4. Users can opt for flexibility in account types, with the option to upgrade to a professional account later, depending on their trading volume and experience.
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) |
Standard commissions apply |
| CFDs (Stocks) |
1.5 |
$5 per lot |
Commissions vary by stock |
| CFDs (Indices) |
0.5 |
$3 per lot |
Competitive rates for major indices |
| CFDs (Commodities) |
1.0 |
$4 per lot |
Includes energy and gold |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market volatility |
Other Fees
FIC may impose the following additional costs:
– Deposit and withdrawal fees may apply depending on the method used.
– Inactivity fees are charged if the account remains dormant for an extended period.
– Platform usage fees may be applicable for certain trading platforms.
– Overnight interest (swap rates) is charged for positions held overnight.
– Currency conversion fees may apply for deposits or withdrawals in different currencies.
