What Account Types and Fees Does RWE Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and retail traders |
Access to a variety of trading tools, educational resources |
Suitable for small-capital practice |
| Professional Account |
Experienced traders |
Higher leverage, lower spreads |
Requires trading volume qualifications |
| Corporate Account |
Corporate clients |
Customized services, corporate trading solutions |
Requires corporate documentation |
| Islamic Account |
Traders adhering to Sharia law |
Swap-free trading |
Available upon request |
| Demo Account |
All traders |
Practice trading without real money |
Ideal for testing strategies |
Account Opening Process
To open an account with RWE, prospective traders must follow a straightforward process. Initially, they will need to submit personal information, including name, contact details, and date of birth. Following this, employment and financial details will be required to assess the trader’s background. Identity verification is a crucial step, which involves providing a government-issued ID and proof of address, such as a utility bill or bank statement. Once the account is set up, traders have the flexibility to upgrade to a professional account in the future if they meet the necessary 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 rates for minors |
| CFDs (S&P 500) |
1.5 |
$2.0 per lot |
Standard fees apply |
| CFDs (Gold) |
0.3 |
$2.5 per lot |
Low spreads on commodities |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
Additional fees that traders should be aware of include deposit and withdrawal fees, which may vary based on the payment method used. Inactivity fees are applicable if an account remains dormant for an extended period, typically six months or longer. Some platforms may charge usage fees, while overnight interest, also known as swap rates, will apply to positions held overnight. Lastly, currency conversion fees may be incurred when trading in different currencies.
