What Account Types and Fees Does SaracenMarkets Offer?
| Account Type |
Target User Group |
Key Characteristics |
Applicability Notes |
| Pro Account |
All traders, including beginners and experienced |
Floating spread from 1.6 pips, no commission |
Minimum deposit of $10, suitable for various trading strategies |
| VIP Account |
Traders seeking speed and advanced execution |
Floating spread from 0.0 pips, commission of $5 per lot |
Minimum deposit of $10, designed for high-frequency trading |
Account Opening Process
SaracenMarkets simplifies the account opening process with the following steps: First, visit the SaracenMarkets website and click on the “create an account” option. Then, select the desired account type, either Pro or VIP. Next, provide your personal information, including your name and country of residence, and set a secure password. After reviewing and agreeing to the terms, submit your registration. Following this, you may need to complete the identity verification process by providing necessary documents, such as an ID and proof of address. Once verified, you will receive a confirmation email, and you can enjoy account flexibility, including the option to upgrade to a professional account later if desired.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
1.6 |
$0 |
No commission on the Pro Account |
| Forex (Minor Pairs) |
Varies |
$0 |
Dependent on market conditions |
| CFDs (Stocks, Indices, Commodities) |
Varies |
$5 per lot |
Applicable to the VIP Account |
| Cryptocurrencies |
Varies |
Varies |
Dependent on market volatility |
Other Fees
Traders should be aware of various other fees associated with their accounts, including potential deposit and withdrawal fees, which may vary depending on the payment methods selected. Inactivity fees may apply to accounts that remain dormant for extended periods, and platform usage fees could be incurred if applicable. Additionally, overnight interest (swap rates) may be charged for positions held overnight, and currency conversion fees might apply when trading in currencies different from the account currency.
