What Account Types and Fees Does Spreadex Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Standard Account |
Retail Traders |
Low minimum deposit, access to various markets, competitive spreads |
Suitable for both beginners and experienced traders |
| Professional Account |
Experienced Traders |
Higher leverage options, tailored services |
Requires proof of trading experience and volume qualifications |
| Corporate Account |
Corporate Clients |
Customized trading solutions, dedicated account management |
Requires corporate documentation and verification |
| Islamic Account |
Traders seeking Sharia-compliant trading |
Swap-free trading conditions |
Requires confirmation of eligibility |
| Demo Account |
New Traders |
No risk practice, access to trading platforms |
No minimum deposit required |
Account Opening Process
To open an account with Spreadex, traders need to follow a straightforward process:
1. Personal Information: Submit basic personal details including name, email, and phone number.
2. Employment Information: Provide details about current employment status and occupation.
3. Financial Information: Share financial background including income and investment experience.
4. Identity Verification: Upload required documents such as a government-issued ID and proof of address (e.g., utility bill).
5. Account Flexibility: Traders may start with a standard account and upgrade to a professional account later, subject to eligibility criteria.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.6 |
$0 (ECN: $3.5/lot) |
Competitive spreads for major pairs |
| Forex (GBP/USD) |
0.9 |
$0 (ECN: $3.5/lot) |
Low spreads for major currency pairs |
| CFDs (Stocks) |
Varies |
1.25% of stock value |
Higher fees for smaller stocks |
| CFDs (Indices) |
Varies |
$0 |
Competitive pricing on major indices |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
In addition to trading fees, traders should be aware of the following costs:
– Deposit Fees: A £1 fee applies for debit card deposits under £50.
– Withdrawal Fees: No fees for bank withdrawals, but credit card withdrawals may take 2-5 days.
– Inactivity Fees: Charges may apply if the account is inactive for an extended period.
– Platform Usage Fees: Currently, there are no additional fees for using Spreadex’s platform.
– Overnight Interest (Swap Rates): Applicable for positions held overnight; rates may vary.
– Currency Conversion Fees: May apply when trading in currencies other than GBP.
