What Account Types and Fees Does Prochoice Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginner to intermediate traders |
Accessible trading conditions, user-friendly interface |
Suitable for individual traders with varying experience levels |
| Professional Account |
Experienced traders |
Higher leverage, advanced trading tools |
Requires verification of trading experience and financial knowledge |
| Corporate Account |
Corporate clients |
Customized services, dedicated account management |
Requires corporate documentation for setup |
| Islamic Account |
Traders requiring Sharia-compliant trading |
Swap-free trading options |
Available upon request, subject to verification |
| Demo Account |
New traders |
Practice trading without real capital |
Ideal for learning and testing strategies |
Account Opening Process
To open an account with Prochoice, traders must follow a straightforward process that includes submitting personal, employment, and financial information. As part of the verification process, clients will need to provide identity verification documents such as an ID and proof of address. Prochoice offers flexibility, allowing clients to upgrade to a professional account as their trading experience increases, enhancing their trading capabilities and options.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major currency pairs |
| Forex (Minor Pairs) |
1.2 |
$0 (ECN: $3.5/lot) |
Competitive pricing for less traded pairs |
| CFDs (Stocks) |
1.0 |
0.5% – 1.5% per order |
Transaction fees vary by stock |
| CFDs (Indices) |
1.5 |
$0 |
Standard fees for index trading |
| CFDs (Commodities) |
1.5 |
$0 |
Consistent pricing across major commodities |
| Cryptocurrencies |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
Traders should be aware of various fees associated with their accounts at Prochoice. These may include deposit and withdrawal fees, inactivity fees, and platform usage fees if applicable. Overnight interest, or swap rates, may apply to positions held overnight, and currency conversion fees may be charged for transactions involving different currencies.
