What Account Types and Fees Does Saafan Markets Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Accessible trading environment |
Suitable for small-capital practice |
| Professional Account |
Experienced traders |
Advanced trading tools and features |
Requires trading volume qualifications |
| Corporate Account |
Corporate clients |
Customized services for businesses |
Requires corporate documentation |
| Islamic Account |
Traders seeking swap-free options |
Adheres to Islamic finance principles |
Available upon request |
| Demo Account |
New traders |
Practice trading without financial risk |
Limited time access |
Account Opening Process
To open an account with Saafan Markets, potential clients need to complete several steps. Initially, they must submit personal, employment, and financial information. In addition, identity verification is required, which typically includes providing a valid ID and proof of address. Once the standard information is submitted and verified, traders have the flexibility to upgrade their accounts in the future, such as moving from a retail to a professional account if they meet the necessary criteria.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
0.8 |
$0 |
Tight spreads for major pairs |
| Forex (Minor Pairs) |
1.5 |
$0 |
Variable spreads based on market conditions |
| CFDs (Stocks) |
1.0 |
$0 |
Commission-free trading |
| CFDs (Indices) |
1.2 |
$0 |
Competitive pricing for indices |
| CFDs (Commodities) |
1.5 |
$0 |
Standard spreads for commodities |
| Cryptocurrencies |
1.0% |
0.1% |
Variable depending on market volatility |
Other Fees
Traders should be aware of several additional fees that may apply when trading with Saafan Markets. These include deposit and withdrawal fees, which could vary based on the payment method chosen. Additionally, inactivity fees might be incurred if accounts remain dormant for a specified period. While no platform usage fees are explicitly stated, traders should consider potential overnight interest (swap rates) for positions held overnight. Finally, currency conversion fees may apply when trading in currencies other than the account’s base currency.
