What Account Types and Fees Does Centrade Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low minimum deposit, access to educational resources |
Suitable for small-capital practice |
| Professional Account |
Experienced traders |
Higher leverage options, advanced trading tools |
Requires trading volume qualifications |
| Corporate Account |
Corporate clients |
Customized services, larger capital requirements |
Requires corporate documentation |
| Islamic Account |
Traders requiring swap-free options |
Compliant with Sharia law, no swaps |
Available upon request |
| Demo Account |
All traders |
Practice trading without risk, virtual funds |
Time-limited access |
Account Opening Process
To open an account with Centrade, you will need to follow a structured process. First, submit your personal information, including your name, contact details, and date of birth. Next, provide employment and financial information to verify your income source and trading experience. After this, identity verification is required, which involves submitting a valid ID and proof of address. The entire process is designed to be user-friendly. Additionally, once you are registered, there is the flexibility to upgrade from a retail account to a professional account at any time, should your trading needs evolve.
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 for high-volume traders |
| CFDs (Stocks) |
0.1 |
$5 per lot |
Varies by stock |
| CFDs (Indices) |
0.5 |
$5 per lot |
Based on market conditions |
| CFDs (Commodities) |
1.0 |
$5 per lot |
Standard rates apply |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
Traders should be aware of additional costs associated with trading on Centrade. Deposit and withdrawal fees may vary based on the payment method chosen, while inactivity fees may apply if the account remains dormant for an extended period. Additionally, there might be platform usage fees, though these are not explicitly stated. Overnight interest, also known as swap rates, is applicable depending on the positions held overnight. Lastly, currency conversion fees may apply for transactions involving different currencies.
