What Account Types and Fees Does Noor Al Mal Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Standard Account |
Beginners |
Low minimum deposit, access to a variety of trading instruments |
Suitable for new traders looking to start with lower capital |
| Student Account |
Student traders |
Accessible minimum deposit, tailored for educational purposes |
Requires proof of student status |
| Demo Account |
All traders |
Practice trading without risk, virtual funds provided |
Ideal for testing strategies and familiarizing with the platform |
Account Opening Process
Noor Al Mal has a straightforward account opening process designed to ensure compliance with regulatory standards. To open an account, you will need to follow these steps: 1. Visit the official Noor Al Mal website and select the “Sign Up” option. 2. Provide personal information including your full name, email, and create a password. 3. Agree to the terms of service and privacy policy. 4. Verify your email through a link sent to your inbox. 5. Submit necessary identity verification documents, including ID and proof of address. This verification process is essential for maintaining security and compliance. Once your account is set up, you may have the option to upgrade to a professional account if your trading needs change in the future.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
Variable |
$0 |
Competitive spreads on popular pairs |
| CFDs (Stocks, Indices, Commodities) |
Variable |
$0 |
No commission charges apply |
| Cryptocurrencies |
Variable |
$0 |
Fees may vary based on market conditions |
Other Fees
Additional fees that may apply include: – Deposit/Withdrawal Fees: Noor Al Mal supports various funding methods; specific fees may apply depending on the chosen method. – Inactivity Fees: Charges may apply if the account remains inactive for a specified period. – Platform Usage Fees: If applicable, these fees will be outlined in the account agreement. – Overnight Interest (Swap Rates): Applicable for positions held overnight, with specific rates depending on the account type. – Currency Conversion Fees: May apply for transactions involving different currencies.
