What Account Types and Fees Does Money Mall Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Gold Account |
Beginner to Intermediate Traders |
Low minimum deposit, moderate leverage |
Requires a minimum deposit of $500 |
| Platinum Account |
Intermediate Traders |
Lower spreads, higher leverage options |
Requires a minimum deposit of $500 |
| Diamond Account |
Experienced Traders |
High leverage, premium trading conditions |
Requires a minimum deposit of $2500 |
| Demo Account |
New Traders |
Practice trading without real funds |
Availability may vary |
Account Opening Process
Opening an account with Money Mall involves several straightforward steps. Initially, you will need to select the type of account that aligns with your trading needs. Following this, you will complete an application form, providing personal information such as your name, address, and contact details. Verification of your identity is a crucial step, which requires submitting documents like a government-issued ID and proof of address. After your account is approved, you will need to fund it, keeping in mind the minimum deposit requirement. Once funded, you can begin trading. Additionally, it is worth noting that you have the flexibility to upgrade to a professional account later if your trading needs change.
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 currencies |
| CFDs (Gold) |
35 |
$5 per lot |
High spread due to market conditions |
| CFDs (Oil) |
20 |
$1 per lot |
Moderate spreads |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
In addition to trading fees, Money Mall may impose various other charges. These can include deposit and withdrawal fees, which vary by method. An inactivity fee may also apply if your account remains dormant for an extended period. Platform usage fees may be relevant if you utilize certain premium features. Overnight interest, known as swap rates, could be applicable depending on the positions you hold overnight. Lastly, currency conversion fees may occur when trading in different currencies.
