What Account Types and Fees Does BMO Capital Markets Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Access to a wide range of trading instruments |
Suitable for small-capital practice |
| Professional Account |
Experienced traders |
Higher leverage and lower spreads available |
Requires trading volume qualifications |
| Corporate Account |
Corporate clients |
Customized services for business needs |
Requires corporate documentation |
| Islamic Account |
Traders seeking swap-free options |
Complies with Sharia law |
Available upon request |
| Demo Account |
New traders |
Practice trading without financial risk |
Ideal for learning trading platforms |
Account Opening Process
To open an account with BMO Capital Markets, prospective clients need to follow a structured process. This includes submitting personal information, employment details, and financial information. Clients will also need to complete identity verification by providing an ID and proof of address. Furthermore, there is flexibility in account types, allowing clients to upgrade to a professional account as their trading experience and volume grow.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
Varies |
$0 |
Tight spreads for major pairs |
| CFDs (Stocks) |
Varies |
$0 |
Commission-free trading on select stocks |
| CFDs (Indices) |
Varies |
$0 |
Competitive pricing for indices |
| CFDs (Commodities) |
Varies |
$0 |
Accessible trading on commodities |
| Cryptos (BTC/USD) |
Varies |
$0 |
Variable spreads depending on market conditions |
Other Fees
Additional fees that traders should be aware of include deposit and withdrawal fees, inactivity fees for dormant accounts, and any applicable platform usage fees. Overnight interest, also known as swap rates, may apply for positions held overnight, and currency conversion fees could be incurred when trading in different currencies.
