What Account Types and Fees Does First Futures Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low minimum deposit, user-friendly platform |
Ideal for smaller capital and new traders |
| Professional Account |
Experienced and high-volume traders |
Higher leverage, access to advanced tools |
Requires proof of trading experience and volume |
| Corporate Account |
Businesses and corporate clients |
Custom solutions, multi-user access |
Requires corporate documentation and verification |
| Islamic Account |
Traders requiring Sharia-compliant services |
Swap-free trading, no overnight interest |
Must provide a declaration of need |
| Demo Account |
New traders and those wanting to practice |
Access to practice trading without real funds |
Available for all users, no time limit |
Account Opening Process
To open an account with First Futures, prospective traders must follow several steps. First, they need to submit their personal information, including name, address, and contact details. Next, employment and financial information are required to assess the applicant’s trading experience and financial standing.
Identity verification is a crucial step in the process, where traders must provide a government-issued ID and proof of address, such as a utility bill or bank statement. This ensures compliance with regulatory standards and adds a layer of security to the trading environment.
Additionally, First Futures offers account flexibility, allowing traders to upgrade from a retail to a professional account as their trading experience and volume increase, ensuring that they have access to the most suitable trading conditions as they progress.
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 rates for GBP pairs |
| CFDs (Stocks) |
0.1% |
$10 per lot |
Varies by stock and market conditions |
| CFDs (Indices) |
0.5% |
$5 per lot |
Includes major global indices |
| Cryptos (BTC/USD) |
1.0% |
$0.1 |
Variable depending on market volatility |
Other Fees
In addition to trading fees, First Futures has various other costs that traders should be aware of:
– Deposit/Withdrawal Fees: Generally, deposits are free, but withdrawals may incur fees depending on the method used.
– Inactivity Fees: Accounts that remain inactive for an extended period may be subject to inactivity fees.
– Platform Usage Fees: No fees are typically charged for using the platform, but certain premium features may have associated costs.
– Overnight Interest (Swap Rates): Positions held overnight may incur swap rates, which vary based on market conditions and account type.
– Currency Conversion Fees: Applicable for accounts trading in currencies other than the base currency, charged at the current exchange rate plus a small margin.
