What Account Types and Fees Does FXON Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Standard Account |
Beginners and casual traders |
Low minimum deposit, user-friendly platform, access to educational resources |
Suitable for those starting in forex trading |
| Elite Account |
Experienced and professional traders |
Higher leverage, tight spreads, advanced trading tools |
Requires proof of trading experience and higher initial deposit |
| Demo Account |
All trader levels |
Practice trading without risk, access to all platform features |
No real money involved, limited to a trial period |
| Islamic Account |
Muslim traders |
Swap-free trading options, compliant with Sharia law |
Requires documentation to verify eligibility |
Account Opening Process
To open an account with FXON, potential traders must follow a straightforward process. First, they need to provide personal information such as name, email, and phone number. Next, employment details and financial background are submitted to assess the applicant’s trading experience and financial situation. Identity verification is critical; traders must upload documents like a government-issued ID and proof of address, such as a utility bill. Once the account is approved, traders can start with a Standard Account and have the flexibility to upgrade to an Elite Account later if they 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 rates for major pairs |
| CFDs (Stocks) |
1.5 |
$5 per lot |
Varied spreads based on stock volatility |
| CFDs (Indices) |
1.2 |
$4 per lot |
Competitive for major indices |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
FXON applies several additional charges that traders should be aware of. Deposit and withdrawal fees may apply depending on the method chosen, particularly for transactions that do not meet the minimum thresholds. Inactivity fees are incurred if an account remains dormant for an extended period. Traders may also encounter platform usage fees under specific conditions, and overnight interest (swap rates) can affect positions held beyond daily trading hours. Currency conversion fees apply when trading different currencies, so users should factor these into their overall trading costs.
