What Account Types and Fees Does Mugan Markets Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Classic ECN |
Beginners and casual traders |
No commission charges, straightforward fee structure |
Minimum deposit of $50, suitable for low-capital trading |
| Trader ECN |
Experienced traders |
Low spreads starting from 0.0 pips, $8 commission per side |
Minimum deposit of $50, ideal for active traders |
| Custom ECN |
Professional traders |
Customizable commission structure, tailored trading conditions |
Higher minimum deposit of $10,000 required |
| Demo Account |
All traders for practice |
Risk-free trading environment to familiarize with the platform |
No real capital required, ideal for skill development |
Account Opening Process
To open an account with Mugan Markets, follow these steps: 1. Fill in your personal details including first name, last name, email address, and create a password. 2. Select your country from the provided list. 3. Enter your phone number including the country code. 4. Choose the preferred account currency. 5. Select the account type you wish to open. 6. Specify your desired leverage level. 7. Agree to the terms and conditions, with an option to receive marketing materials. 8. Acknowledge the KYC requirements. 9. Submit your application. The account is flexible, allowing for upgrades to a professional account later if desired.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.9 |
$0 (Classic ECN) |
No commission, suitable for beginners |
| Forex (GBP/JPY) |
0.9 |
$0 (Classic ECN) |
No commission, suitable for beginners |
| Forex (AUD/CAD) |
0.9 |
$0 (Classic ECN) |
No commission, suitable for beginners |
| CFDs (S&P 500) |
0.9 |
$8 |
Commission applies per side |
| CFDs (Gold) |
0.9 |
$8 |
Commission applies per side |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
Additional fees that may apply include deposit and withdrawal fees, which can vary based on the chosen payment methods. Inactivity fees may also apply if there is no trading activity for an extended period. Platform usage fees are not specified, while overnight interest (swap rates) may be charged based on the positions held overnight. Currency conversion fees may apply if transactions involve different currencies.
