What Account Types and Fees Does BFC Forex Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low minimum deposit, user-friendly interface |
Suitable for small-capital trading |
| Professional Account |
Experienced traders |
High leverage, lower spreads |
Requires a minimum trading volume or experience |
| Corporate Account |
Businesses and institutions |
Customized services, dedicated account manager |
Requires corporate documentation |
| Islamic Account |
Traders seeking swap-free options |
No swap fees, compliant with Sharia law |
Available upon request |
| Demo Account |
All types of traders |
Risk-free trading environment, practice features |
No real capital required |
Account Opening Process
The account opening process at BFC Forex is straightforward. Interested traders must submit personal information, which includes their name, contact details, and date of birth. They will also need to provide employment and financial information to verify their trading experience and financial background. Additionally, identity verification is required, which includes submitting a government-issued ID and proof of address. BFC Forex allows flexibility in account types, meaning traders can upgrade to a professional account later if they 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 spreads for major pairs |
| CFDs (Stocks) |
1.5 |
$5 per lot |
Varies by stock |
| CFDs (Commodities) |
2.0 |
$5 per lot |
Includes gold and oil |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
In addition to trading fees, BFC Forex may charge various other fees. Deposit and withdrawal fees can apply depending on the payment method chosen. An inactivity fee may be charged if the account remains dormant for an extended period. Platform usage fees are not applicable, as the trading platforms are typically provided at no extra cost. Overnight interest, or swap rates, may apply to positions held overnight. Additionally, currency conversion fees could be incurred when trading in different currencies.
