What Account Types and Fees Does WOOD & Co Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginner to intermediate traders |
Low minimum deposit, access to educational resources |
Suitable for small-capital practice |
| Professional Account |
Experienced traders |
Higher leverage, lower spreads |
Requires proof of trading experience |
| Corporate Account |
Corporate clients |
Customizable services, dedicated account management |
Requires corporate documentation |
| Islamic Account |
Traders requiring swap-free accounts |
Compliant with Sharia law |
Available to Muslim traders |
| Demo Account |
All levels |
Practice trading with virtual funds |
Useful for testing strategies without risk |
Account Opening Process
To open an account with WOOD & Co, prospective clients must follow a straightforward process. Initially, users will need to submit personal details, including full name, email address, and phone number. Following this, employment and financial information will be required to assess the applicant’s trading experience and financial status. Identity verification is a crucial step, where applicants must provide a government-issued ID and proof of address, such as a utility bill or bank statement. Once the account is opened, there is flexibility to upgrade to a professional account later, subject to meeting specific criteria.
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 trading |
| CFDs (Stocks) |
1.5 |
$5 per lot |
Varies by stock |
| CFDs (Indices) |
1.0 |
$3 per lot |
Standard pricing |
| CFDs (Commodities) |
2.0 |
$4 per lot |
Market-dependent spreads |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
WOOD & Co has several other fees that clients should be aware of. Deposit and withdrawal fees may apply depending on the payment method chosen. An inactivity fee may be charged if the account remains dormant for an extended period. There are also potential platform usage fees, though these may vary. Overnight interest, or swap rates, are applicable for positions held beyond the trading day. Additionally, currency conversion fees may apply for transactions in different currencies.
