What Account Types and Fees Does Modmount Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Classic Account |
Beginners |
Commission-free deposits, access to over 160 CFD assets, maximum leverage of 1:400 |
Suitable for new traders entering the market |
| Silver Account |
Intermediate Traders |
Similar benefits as the Classic account with additional swap discounts |
Best for traders looking to enhance their trading conditions |
| Gold Account |
Active Traders |
Lower spreads starting from 1.8 pips, faster execution |
Ideal for those engaging in frequent trading |
| Platinum Account |
Experienced Traders |
Spreads from 1.4 pips, advanced tools |
Designed for traders seeking competitive conditions |
| VIP Account |
High-Volume Traders |
Exclusive account with spreads starting from 0.9 pips |
Requires significant trading activity |
Account Opening Process
To open an account with Modmount, interested traders can begin by visiting their website and clicking on the “Start Trading” option. The process involves submitting personal, employment, and financial information, including identity verification through documents such as an ID and proof of address. After registration, users can deposit funds and start trading right away. It’s also worth noting that account flexibility allows for potential upgrades to a professional account in the future, accommodating evolving trading needs.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
1.8 |
$0 |
Competitive spreads for active trading |
| Forex (GBP/USD) |
2.3 |
$0 |
Good for various trading strategies |
| CFDs (Crude Oil) |
$0.12 |
$0 |
Low commissions on popular commodities |
| CFDs (Stocks) |
Varies |
$0 |
Access to a wide range of stock CFDs |
| Cryptocurrencies (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
Modmount implements various fees that traders should be aware of, including:
- Deposit/Withdrawal Fees: There may be costs associated with depositing or withdrawing funds, depending on the chosen method.
- Inactivity Fees: Accounts that remain inactive for a certain period may incur fees.
- Platform Usage Fees: Users should verify if any platform fees apply when using specific features.
- Overnight Interest (Swap Rates): Fees may apply for positions held overnight.
- Currency Conversion Fees: Charges may be applicable for transactions involving currency conversion.
