What Account Types and Fees Does Mahadana Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and retail traders |
Low minimum deposit, access to educational resources |
Ideal for small-capital practice |
| Professional Account |
Experienced traders and institutional clients |
Higher leverage, tight spreads, advanced trading tools |
Requires proof of trading experience or significant trading volume |
| Corporate Account |
Corporate clients and businesses |
Custom trading solutions, segregated accounts |
Requires corporate documentation for setup |
| Islamic Account |
Traders seeking Sharia-compliant options |
Swap-free trading, no interest charges |
Must be verified as a compliant trader |
| Demo Account |
New traders wanting to practice |
Real market conditions without risk, virtual funds |
No minimum deposit required, for practice only |
Account Opening Process
To open an account with Mahadana, follow these steps:
1. Complete the account opening form, either in print or electronically through the Client Area.
2. Submit personal, employment, and financial information.
3. Provide identity verification documents, including a government-issued ID and proof of address.
4. After initial approval, you can fund your account and start trading.
5. If you start with a Retail Account, you have the flexibility to upgrade to a Professional Account later if you meet the eligibility 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 for minor pairs |
| CFDs (Stock Indices) |
1.5 |
$1.0 per lot |
Varied spreads depending on the index |
| CFDs (Commodities) |
2.0 |
$1.0 per lot |
Standard spreads apply |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable based on market volatility |
Other Fees
Mahadana may charge the following fees:
– Deposit/Withdrawal Fees: Typically, there are no fees for deposits, but withdrawal fees may apply depending on the method used.
– Inactivity Fees: Accounts that remain inactive for an extended period may incur a monthly inactivity fee.
– Platform Usage Fees: None applicable for standard usage of the trading platform.
– Overnight Interest (Swap Rates): Applicable for positions held overnight; rates vary depending on market conditions.
– Currency Conversion Fees: May apply for deposits or withdrawals in different currencies.
