What Account Types and Fees Does Hexforex Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Standard Account |
Beginners and casual traders |
Zero commission, fixed spread of 0.33 pips |
Minimum deposit of $100, suitable for low-capital trading |
| ECN Account |
Experienced traders |
Low spreads of 0.26 pips, $7 commission per lot |
Minimum deposit of $1,000, ideal for high-frequency trading |
| VIP Account |
Professional traders and institutions |
Tightest spreads of 0.20 pips, $5 commission per lot |
Minimum deposit of $5,000, requires significant trading volume |
| Islamic Account |
Traders requiring Sharia-compliant options |
Swap-free trading conditions |
Available in Standard, ECN, and VIP types upon request |
| Demo Account |
New traders and those testing strategies |
Practice trading with simulated funds of $10,000 |
Free access to all trading features for risk-free learning |
Account Opening Process
To open an account with Hexforex, you will need to follow a structured process:
1. Prepare Documents: Gather necessary documentation including proof of identity, proof of address, and email verification.
2. Submit Personal Information: Fill out the application form with your personal details, including employment status and financial background.
3. Identity Verification: Upload required documents such as your ID and proof of address to complete the identity verification process.
4. Choose Account Type: Select your preferred account type based on your trading needs and deposit capacity.
5. Funding the Account: After your application is approved, you can securely fund your account.
6. Access Client Portal: Log in to your personal trading dashboard to start trading.
You also have the flexibility to upgrade your account type later if your trading requirements change.
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) |
Variable spreads for minor pairs |
| CFDs (Stocks) |
0.5 |
$0 (ECN: $5/lot) |
Competitive pricing for share trading |
| CFDs (Indices) |
1.0 |
$0 (ECN: $3/lot) |
Access to major global indices |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
Traders should be aware of additional costs associated with their accounts, including:
– Deposit/Withdrawal Fees: Typically vary based on the method used, and may not be explicitly stated.
– Inactivity Fees: Accounts that remain inactive for an extended period may incur fees.
– Platform Usage Fees: None reported, but users should verify based on their selected trading platform.
– Overnight Interest (Swap Rates): Applied to positions held overnight, depending on the account type.
– Currency Conversion Fees: May apply when trading in currencies different from the account base currency.
