What Account Types and Fees Does OWM Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and retail traders |
Low minimum deposit, user-friendly platform |
Suitable for small-capital practice |
| Professional Account |
Experienced and high-volume traders |
Higher leverage, lower spreads |
Requires trading volume qualifications |
| Corporate Account |
Corporate clients and institutions |
Customized services, dedicated account manager |
Requires corporate documentation |
| Islamic Account |
Traders needing swap-free conditions |
No overnight interest charges |
Must comply with Islamic finance principles |
| Demo Account |
New traders and those testing strategies |
Practice trading in a risk-free environment |
Available for all potential users |
Account Opening Process
To open an account with OWM, prospective traders must follow a straightforward process. Initially, they need to submit personal information, such as their name, address, and contact details. Following this, employment and financial information should be provided to assess the user’s trading experience and financial background. Identity verification is an essential step, requiring the submission of a government-issued ID and proof of address, such as a utility bill. After completing these steps, users can enjoy account flexibility, including the option to upgrade to a professional account later if they meet the eligibility criteria.
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 for minor pairs |
| CFDs (Stocks) |
1.5 |
$0.05 per share |
Varies by stock |
| CFDs (Indices) |
1.2 |
$0 |
Standard rates for indices |
| CFDs (Commodities) |
2.0 |
$0 |
Standard rates for commodities |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
In addition to trading fees, traders should be aware of other costs associated with their accounts. Deposit and withdrawal fees may apply, depending on the method used. Inactivity fees are charged if an account remains dormant for a specified period. Additionally, platform usage fees might be applicable, along with overnight interest or swap rates on leveraged positions. Currency conversion fees may also be incurred when trading in currencies other than the account’s base currency.
