What Account Types and Fees Does OnFin Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| ECN Account |
Experienced traders, scalpers |
Floating spreads from 0 pips, market execution |
Minimum deposit of $50, trading commission of $4 per lot |
| Fix Account |
Traders preferring price certainty |
Fixed spreads, no commissions |
Minimum deposit of $50, suitable for stable trading |
| Mini Account |
Beginners, low-budget traders |
Reduced margin requirements, no commissions |
Minimum deposit of $1, ideal for small-capital practice |
| Copy Account |
Passive investors |
Floating spreads from 2.4 pips, varies commission |
Minimum deposit of $50, designed for strategy replication |
Account Opening Process
To open an account with OnFin, you need to follow a structured process. Start by providing your personal information, which includes your full name, contact information, and date of birth. Next, submit your employment and financial information to assess your trading experience and risk profile. Identity verification is a critical step, requiring you to upload a valid ID and proof of address. Once your documents are verified, you can proceed to fund your account. OnFin also allows for account flexibility, enabling you to upgrade to a professional account later if your trading needs evolve.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
0.8 |
$4 per lot |
Tight spreads for major currencies |
| Forex (Minor Pairs) |
1.0 |
No commission |
Competitive pricing for minor pairs |
| CFDs (Stocks) |
Variable |
No commission |
Fees may vary based on market conditions |
| CFDs (Indices) |
Variable |
No commission |
Dynamic pricing based on index performance |
| Cryptocurrencies |
1.0% |
Variable commission |
Depends on volatility and trade size |
Other Fees
In addition to trading fees, OnFin may charge for various other services. These include potential deposit and withdrawal fees depending on the payment method used. Inactivity fees may apply if accounts remain dormant for extended periods. There are no platform usage fees, ensuring that traders can utilize the trading platforms without additional costs. Overnight interest, also known as swap rates, may be charged for positions held overnight. Lastly, currency conversion fees may apply if transactions involve different currencies.
