What Account Types and Fees Does Equitrade Capital Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Access to various trading instruments, educational resources |
Suitable for small-capital practice |
| Professional Account |
Experienced traders |
Higher leverage, lower spreads, advanced trading tools |
Requires trading volume qualifications |
| Corporate Account |
Corporate clients |
Custom trading solutions, dedicated support |
Requires corporate documentation and verification |
| Islamic Account |
Traders seeking Sharia-compliant options |
Swap-free trading, tailored for Islamic finance |
Eligibility based on personal beliefs |
| Demo Account |
All traders |
Practice trading strategies with virtual funds |
Ideal for new traders to gain experience |
Account Opening Process
To open an account with Equitrade Capital, potential traders must follow a systematic process. Initially, applicants need to submit personal information, including their name, contact details, and date of birth. Following this, employment and financial information must be provided to assess the applicant’s trading experience and financial situation. Identity verification is mandatory, requiring a valid ID and proof of address. This ensures compliance with regulatory standards. It is important to note that accounts are flexible; traders can upgrade from a retail to a professional account as their trading needs evolve.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major currency pairs |
| Forex (GBP/USD) |
1.0 |
$0 (ECN: $3.5/lot) |
Competitive rates for minor pairs |
| CFDs (Stock Index) |
1.5 |
$10 per lot |
Includes major indices like S&P 500 |
| CFDs (Commodities) |
3.0 |
$10 per lot |
Variety of commodities available |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
Equitrade Capital also imposes additional fees that traders should be aware of. Deposit and withdrawal fees may apply, which vary by payment method. Inactivity fees are charged if an account remains dormant for an extended period. Platform usage fees may exist, especially for premium features. Overnight interest, or swap rates, are applied to positions held overnight, and currency conversion fees may apply when trading in different currencies.
