What Account Types and Fees Does Meridian Finance Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners |
Access to a variety of trading instruments |
Suitable for individuals looking to start trading |
| Professional Account |
Experienced traders |
Advanced trading tools and features |
Requires meeting specific trading volume criteria |
| Demo Account |
New traders |
Practice trading without financial risk |
Ideal for testing strategies and familiarizing with the platform |
Account Opening Process
Opening an account with Meridian Finance involves several steps. Prospective clients must submit personal information, including their name, contact details, and employment information. Financial information is also required to assess the applicant’s trading experience and risk profile. Identity verification is essential and includes providing a valid ID and proof of address. Once an account is opened, clients may have the option to upgrade to a professional account as their trading experience evolves.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
Varies |
Varies |
Competitive rates for high-volume traders |
| Forex (Minor Pairs) |
Varies |
Varies |
Wider spreads compared to major pairs |
| CFDs (Stocks) |
Varies |
Varies |
Fees depend on the specific stock |
| CFDs (Indices) |
Varies |
Varies |
Market conditions can affect fees |
| CFDs (Commodities) |
Varies |
Varies |
Spreads can fluctuate based on market volatility |
| Cryptocurrencies |
Varies |
Varies |
Fees are influenced by market conditions |
Other Fees
Traders should be mindful of various fees that may apply. These include deposit and withdrawal fees, which can vary by payment method. Inactivity fees may also apply if an account remains dormant for an extended period. Additionally, platform usage fees could be incurred depending on the trading platform utilized. Traders should also consider overnight interest, known as swap rates, which can impact long-term positions, as well as any currency conversion fees that may apply when trading different currencies.
