What Account Types and Fees Does RMB Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low spreads, user-friendly platform |
Suitable for small-capital practice |
| Professional Account |
Experienced traders |
High leverage, advanced trading tools |
Requires trading volume qualifications |
| Corporate Account |
Corporate clients |
Custom solutions, dedicated support |
Requires corporate documentation |
| Islamic Account |
Muslim traders |
Swap-free, adheres to Sharia law |
Available upon request |
| Demo Account |
All traders |
Practice trading with virtual funds |
Ideal for testing strategies without risk |
Account Opening Process
To open an account with RMB, traders must follow a straightforward process. Initially, applicants are required to submit personal information such as their name, contact details, and date of birth. Following this, employment and financial information will be requested to assess the applicant’s trading experience and financial background. Identity verification is essential and includes submitting a government-issued ID and proof of address (e.g., utility bill or bank statement). It is important to note that there is flexibility in account types, allowing users to upgrade from a retail to a professional account as their trading experience grows.
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 traders |
| CFDs (S&P 500) |
1.5 |
$1 per lot |
Access to major global indices |
| CFDs (Gold) |
0.3 |
$1 per lot |
Low cost for commodity trading |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
Additional costs associated with trading at RMB may include deposit and withdrawal fees, which can vary based on the payment method used. An inactivity fee may apply if the account remains dormant for an extended period. Platform usage fees are not applicable for most accounts, while overnight interest (swap rates) may be incurred depending on positions held overnight. Currency conversion fees could apply when trading in different currencies, impacting overall trading costs.
