What Account Types and Fees Does IFC Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Demo Account |
Beginners |
Practice trading without financial risk |
Suitable for those new to trading to learn the platform |
| Retail Account |
Individual Traders |
Access to various trading instruments |
Designed for personal trading activities |
| Professional Account |
Experienced Traders |
Potential for higher leverage and advanced features |
Requires proof of trading experience |
Account Opening Process
To open an account with IFC, prospective clients must follow several steps. Initially, individuals are required 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 individual’s trading background and financial status. Verification of identity is crucial, necessitating the submission of a government-issued ID and proof of address. Additionally, there is flexibility in upgrading accounts later, allowing users to transition from a retail to a professional account as their trading experience grows.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
Varies |
$0 |
Competitive spreads available |
| Forex (Minor Pairs) |
Varies |
$0 |
Wider spreads compared to majors |
| CFDs (Stocks) |
Varies |
$0 |
Access to major stocks |
| CFDs (Indices) |
Varies |
$0 |
Includes major indices |
| CFDs (Commodities) |
Varies |
$0 |
Popular commodities available |
| Cryptocurrencies |
N/A |
$0 |
Currently not supported |
Other Fees
Additional fees that may apply include deposit and withdrawal fees, which can vary depending on the payment method selected. An inactivity fee may also apply if there is no trading activity over a specific period. While there are no platform usage fees associated with trading, overnight interest may be charged on positions held beyond the trading day, depending on the account type. Currency conversion fees might also be applicable for transactions involving different currencies.
