What Account Types and Fees Does FOGO Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Live Account |
Traders ready for real market engagement |
Allows trading with real funds |
Requires initial funding; no minimum deposit specified |
| Demo Account |
Beginner traders and those testing strategies |
Preloaded with $1,000,000 in virtual funds |
Ideal for practice without financial risk |
Account Opening Process
To open an account with FOGO, users must follow a straightforward process. First, they will need to submit their personal information, which includes name, address, and contact details. Next, employment and financial information may be required to assess suitability for trading. Identity verification is also crucial; users must provide valid identification and proof of address to confirm their identity. Additionally, FOGO offers flexibility in account management, allowing traders to upgrade to a professional account as their trading experience and volume increase.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
0.8 |
$0 |
Tight spreads available |
| Forex (Minor Pairs) |
Varies |
$0 |
Subject to market conditions |
| CFDs (Stocks) |
Varies |
$0 |
Dependent on the stock traded |
| CFDs (Indices) |
Varies |
$0 |
Market conditions apply |
| CFDs (Commodities) |
Varies |
$0 |
Based on commodity specifications |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable based on market volatility |
Other Fees
Traders should be aware of various additional fees associated with their accounts at FOGO. This includes potential deposit and withdrawal fees, which may vary by method used. Inactivity fees may apply if an account remains dormant for an extended period. While platform usage fees are not specified, users should inquire directly for clarity. Overnight interest, or swap rates, will apply to positions held overnight, and currency conversion fees may also be incurred when trading in different currencies.
