What Account Types and Fees Does Quest Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low minimum deposit, user-friendly platform |
Ideal for traders with limited capital |
| Professional Account |
Experienced traders |
Higher leverage, tailored trading conditions |
Requires proof of trading experience or volume |
| Corporate Account |
Corporate clients |
Customized services, multi-user access |
Documentation verifying corporate status required |
| Islamic Account |
Traders seeking Sharia-compliant trading |
Swap-free conditions |
Must provide relevant documentation |
| Demo Account |
New users and practice traders |
Virtual funds for risk-free trading |
Unlimited access for practice purposes |
Account Opening Process
To open an account with Quest, prospective traders must follow a straightforward process. Initially, users need to submit personal information, including their name, contact details, and date of birth. Following this, employment details and financial information such as income sources and trading experience are required. Identity verification is also a crucial step, necessitating the submission of an identification document and proof of address. Quest offers flexibility in account types, allowing users to upgrade to a professional account later if they meet the necessary criteria and requirements.
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 pricing |
| CFDs (Stocks) |
0.1% |
$2 per lot |
Varies by stock |
| CFDs (Indices) |
0.5% |
$2 per lot |
Based on index |
| CFDs (Commodities) |
0.2% |
$2 per lot |
Varies by commodity |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
Traders should also be aware of additional costs associated with their accounts. These include deposit and withdrawal fees, which may vary based on the payment method chosen. Inactivity fees may apply if an account remains dormant for an extended period. Platform usage fees are not applicable, ensuring users can trade without extra charges. Overnight interest, or swap rates, are incurred for positions held overnight, and currency conversion fees may apply for transactions in different currencies.
