What Account Types and Fees Does MeinTrade Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Access to a wide range of instruments with competitive spreads |
Suitable for small-capital practice |
| Professional Account |
Experienced traders |
Higher leverage and lower spreads |
Requires proof of trading experience and volume |
| Corporate Account |
Corporate clients and institutions |
Customizable services and dedicated support |
Requires corporate documentation |
| Islamic Account |
Traders seeking swap-free options |
No overnight interest fees |
Must comply with Islamic finance principles |
| Demo Account |
New traders and those testing strategies |
Practice trading with virtual funds |
No initial deposit required |
Account Opening Process
To open an account with MeinTrade, prospective clients need to follow these steps:
1. Submit personal information, including name, address, and date of birth.
2. Provide employment details and financial information to assess suitability for trading.
3. Complete identity verification by submitting a government-issued ID and proof of address.
MeinTrade allows for flexibility in account types, enabling clients to upgrade from a retail account to a professional account as they gain experience and 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 pricing |
| CFDs (Stocks) |
0.1% |
$5 per lot |
Fees vary by stock |
| CFDs (Indices) |
0.5% |
$4 per lot |
Access to global indices |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
MeinTrade has several additional fees that clients should be aware of:
– Deposit/Withdrawal Fees: Fees may apply depending on the method used for transactions.
– Inactivity Fees: Accounts that remain inactive for a specific period may incur charges.
– Platform Usage Fees: If applicable, some platforms may charge for advanced features.
– Overnight Interest (Swap Rates): Applicable for positions held overnight unless in an Islamic account.
– Currency Conversion Fees: Fees may apply when trading in a currency different from the account’s base currency.
