What Account Types and Fees Does Arqaam Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low minimum deposit, competitive spreads |
Ideal for new traders looking to gain experience |
| Professional Account |
Experienced traders and institutions |
Higher leverage, customized services, lower spreads |
Requires proof of trading experience and volume |
| Corporate Account |
Corporations and institutional clients |
Tailored services, advanced trading tools |
Requires corporate documentation and verification |
| Islamic Account |
Traders seeking Sharia-compliant options |
Swap-free trading conditions |
Available for all account types upon request |
| Demo Account |
All traders |
No risk trading environment, practice tools |
Useful for testing strategies without financial risk |
Account Opening Process
To open an account with Arqaam, follow these steps: First, submit your personal information including name, address, and contact details. Next, provide your employment information and any relevant financial details. Identity verification is crucial; thus, you will need to submit a government-issued ID and proof of address (like a utility bill). The process is straightforward, and you can upgrade to a professional account later if your trading volume increases or your experience level changes.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for majors |
| Forex (GBP/USD) |
1.0 |
$0 (ECN: $3.5/lot) |
Competitive for all traders |
| CFDs (Stocks) |
0.2% |
$10 per lot |
Varies by stock |
| CFDs (Commodities) |
1.5 |
$5 per lot |
Includes gold and oil |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
Clients should be aware of the following additional costs: Deposit and withdrawal fees are generally not charged, but payment processors may impose fees. Inactivity fees apply if the account remains dormant for an extended period. Platform usage fees are not applicable, ensuring that clients can use the trading platform without extra costs. Overnight interest (swap rates) may apply, depending on account type and positions held. Currency conversion fees might also be applicable for accounts using different currencies.
