What Account Types and Fees Does OFinancial Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and retail traders |
Low minimum deposit, floating spreads from 0 pips, access to various financial products |
Suitable for traders looking to start with small capital |
| Professional Account |
Experienced traders |
Higher leverage up to 1:1000, tailored services, reduced trading costs |
Requires proof of trading experience and minimum trading volume |
| Corporate Account |
Corporate clients and institutions |
Customized trading solutions, higher liquidity, dedicated account manager |
Requires corporate documentation and verification |
| Islamic Account |
Traders seeking Sharia-compliant trading |
Swap-free trading conditions, no interest charges |
Available for traders adhering to Islamic finance principles |
| Demo Account |
All types of traders for practice |
Risk-free trading environment, access to all features of the platform |
Useful for testing strategies without financial commitment |
Account Opening Process
To open an account with OFinancial, you need to follow these steps:
1. Submit your personal information, including your name, date of birth, and contact details.
2. Provide employment details and financial background to assess your trading experience and suitability.
3. Complete identity verification by uploading required documents, such as a government-issued ID and proof of address.
4. Upon successful verification, you can fund your account and start trading.
5. You have the option to upgrade to a professional account in the future if you meet the eligibility 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) |
1.5 |
$5 per lot |
Commission applies on stock trades |
| CFDs (Commodities) |
1.2 |
$5 per lot |
Reflects market volatility |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
Traders should be aware of additional fees that may apply, including:
– Deposit and withdrawal fees may vary depending on the method used.
– Inactivity fees apply if there are no trades for a specified period.
– Platform usage fees are not applicable for standard accounts but may apply for premium services.
– Overnight interest (swap rates) will be charged on positions held overnight, depending on the asset class.
– Currency conversion fees may apply for deposits and withdrawals in different currencies.
