What Account Types and Fees Does Miles Capital Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low minimum deposit, access to demo account, user-friendly interface |
Suitable for individuals testing the waters in trading |
| Professional Account |
Experienced traders and professionals |
Higher leverage, tighter spreads, advanced trading tools |
Requires proof of trading experience or volume |
| Corporate Account |
Corporate clients and institutions |
Customized services, dedicated account manager, advanced reporting |
Requires corporate documentation and compliance verification |
| Islamic Account |
Traders requiring swap-free options |
Compliance with Sharia law, no overnight interest |
Available upon request with necessary documentation |
| Demo Account |
All traders for practice |
Free virtual funds, access to real-time market data |
Ideal for testing strategies without financial risk |
Account Opening Process
To open an account with Miles Capital, prospective clients need to follow a straightforward process. First, they must complete the registration form providing personal details, including their name, contact information, and employment status. Following this, applicants will submit financial information, including income sources and trading experience. Identity verification is crucial, requiring the submission of government-issued ID and proof of address, such as a utility bill. Once the application is reviewed and approved, users can start trading with the flexibility to upgrade to a professional account in the future if they 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 for active traders |
| CFDs (Stocks) |
1.5 |
$0 (ECN: $4/lot) |
Varied spreads depending on the stock |
| CFDs (Indices) |
1.0 |
$0 |
Standard rates for major indices |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
In addition to trading fees, Miles Capital imposes several other costs. Deposit and withdrawal fees may apply depending on the payment method selected. An inactivity fee is charged if the account remains dormant for an extended period. Additionally, while there are no platform usage fees, overnight interest (swap rates) may apply for positions held overnight, and currency conversion fees can be incurred for deposits or withdrawals in different currencies.
