What Account Types and Fees Does First Shanghai Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low minimum deposit, user-friendly platform |
Ideal for small-capital practice, no trading volume requirements |
| Professional Account |
Experienced traders |
High leverage, advanced trading tools |
Requires trading volume qualifications and experience |
| Corporate Account |
Corporate clients |
Custom trading solutions, dedicated account management |
Requires corporate documentation |
| Islamic Account |
Traders seeking swap-free options |
No overnight interest, compliant with Sharia law |
Available upon request with necessary proof |
| Demo Account |
New traders and those testing strategies |
Virtual funds for practice, full access to trading features |
No capital requirements, perfect for skill development |
Account Opening Process
To open an account with First Shanghai, users must complete several steps. Initially, you will need to provide personal information, including your name, email, and contact number. Next, employment details and financial information are required to assess your trading experience and financial capacity. Identity verification is an essential part of the process, which includes submitting a valid ID and proof of address, such as a utility bill or bank statement. After your documents are verified, you can start trading. It is also worth noting that there is flexibility in upgrading your account to a professional account later on, should you meet the necessary criteria.
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 spreads |
| CFDs (US Stocks) |
0.1% |
$0 (ECN: $4.0/lot) |
Low commission for high volume |
| CFDs (Indices) |
0.5% |
$0 (ECN: $3.0/lot) |
Efficient pricing on major indices |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
In addition to trading fees, First Shanghai may apply several other costs. Deposit and withdrawal fees can vary depending on the method used, so it’s advisable to check these details. Inactivity fees are applicable if your account remains dormant for an extended period. While there are no platform usage fees associated with their services, be aware of overnight interest charges, known as swap rates, for positions held overnight. Lastly, currency conversion fees may apply when trading in different currencies.
