What Account Types and Fees Does RICO Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Investment Account |
All traders, including beginners and experienced |
Access to fixed and variable income investments |
Suitable for general investment purposes |
| Digital Account |
Everyday users for transactions |
Handles daily transactions, such as PIX and TED |
Ideal for managing personal finances and receiving wages |
| Demo Account |
Beginners looking to practice |
Risk-free trading simulation environment |
Perfect for learning trading strategies |
Account Opening Process
To open an account with RICO, users must complete several steps. Initially, personal information, such as name, address, and contact details, needs to be submitted. Following this, employment and financial information are required to assess the user’s trading experience and financial background. Identity verification is crucial; users must provide a valid ID and proof of address to confirm their identity. Once the account is set up, there is flexibility to upgrade to a professional account later if the user’s trading volume meets the necessary qualifications.
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 spreads |
| CFDs (Stocks) |
0.1% |
$1.5 per lot |
Varies by stock |
| CFDs (Indices) |
0.5% |
$2.0 per lot |
Standard spreads |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
RICO also imposes various other fees that traders should be aware of. Deposit and withdrawal fees may apply, depending on the method used. Inactivity fees are charged if an account remains dormant for an extended period. Additionally, platform usage fees may apply for certain trading platforms. Traders should also consider overnight interest (swap rates) for positions held overnight and potential currency conversion fees when trading different currency pairs.
