What Account Types and Fees Does Sanen Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Standard Brokerage Account |
Active traders seeking a diverse range of financial instruments |
Access to forex, CFDs, commodities, and indices |
Suitable for traders looking for an unregulated trading environment |
| Margin Account |
Experienced traders wanting to leverage their investments |
Ability to borrow funds to increase purchasing power |
Recommended for those familiar with the risks of leveraged trading |
| Custodial Accounts for Minors |
Parents or guardians managing investments for minors |
Facilitates investment management until the minor reaches adulthood |
Requires documentation from parents or guardians |
| Retirement Accounts |
Long-term investors seeking tax advantages |
Inquire for available options tailored for retirement savings |
Eligibility based on specific retirement account regulations |
Account Opening Process
Opening an account with Sanen is a straightforward process, although it is essential to acknowledge that it operates in an unregulated environment. The steps include: 1. Research and Choose Account Type: Assess which account aligns with your trading goals. 2. Gather Required Documents: Collect required personal information such as your full name, date of birth, social security number, and residential address. 3. Complete Application: Fill in the online application form accurately to prevent any delays. 4. Identity Verification: Submit identity verification documents, including a government-issued ID and proof of address. 5. Fund Your Account: After approval, deposit the necessary funds through preferred methods. 6. Begin Trading: Familiarize yourself with the trading platform and tools available. It’s worth noting that you can upgrade your account to a professional type later if desired.
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 pricing for major pairs |
| CFDs (Stock Indices) |
1.5 |
$0 (ECN: $4.0/lot) |
Access to major global indices |
| CFDs (Commodities) |
2.0 |
$0 (ECN: $4.0/lot) |
Includes popular commodities like gold and oil |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable based on market conditions |
Other Fees
Additional costs to consider when trading with Sanen include: – Deposit/Withdrawal Fees: Check for any applicable fees based on the chosen deposit method. – Inactivity Fees: Accounts that remain inactive for an extended period may incur inactivity fees. – Platform Usage Fees: Be aware of any costs related to using the trading platform, if applicable. – Overnight Interest (Swap Rates): Fees may apply for positions held overnight. – Currency Conversion Fees: Charges may apply for converting currencies during transactions.
