What Account Types and Fees Does MFG Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and individual traders |
Low minimum deposit, access to educational resources, user-friendly platforms |
Ideal for small-capital traders looking to practice trading strategies |
| Professional Account |
Experienced traders and investors |
Higher leverage, tighter spreads, advanced trading tools |
Requires proof of trading experience or minimum trading volume |
| Corporate Account |
Businesses and institutional clients |
Customized services, dedicated account management |
Requires corporate documentation and proof of business registration |
| Islamic Account |
Traders seeking Sharia-compliant options |
Swap-free trading, no interest on overnight positions |
Available upon request with proper documentation |
| Demo Account |
New traders and those testing strategies |
Virtual funds, full access to trading platforms |
Suitable for practice without financial risk |
Account Opening Process
To open an account with MFG, prospective clients need to follow a structured process: First, they must submit personal, employment, and financial information through the online application form. This includes providing identity verification documents such as a government-issued ID and proof of address, which can be submitted electronically. Once this information is reviewed and approved, the account will be activated. MFG offers flexibility in account management, allowing clients to upgrade from a retail to a professional account based on their trading activity and experience over time.
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) |
0.1% |
$10 per lot |
Varies by stock |
| CFDs (Indices) |
0.5% |
$5 per lot |
Standard rates for major indices |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
In addition to trading fees, MFG has several other costs associated with account management. Deposit and withdrawal fees may apply depending on the method chosen, while there could be inactivity fees for accounts that remain dormant for a certain period. Clients should also be aware of potential platform usage fees, overnight interest (swap rates), and currency conversion fees for transactions involving different currencies.
