What Account Types and Fees Does Sheer Markets Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Sheer Classic |
Beginners and casual traders |
Low spreads from 1.2 pips, commission-free |
Minimum deposit of $200 |
| Sheer Classic Plus |
Intermediate traders |
Low spreads starting from 1.0 pips, no commission |
Suitable for traders seeking lower spreads |
| Sheer Prime |
Experienced traders |
Competitive spreads from 0.0 pips, $4 commission per lot |
Requires higher trading volume for optimal use |
| Sheer Prime Plus |
Professional traders |
Very low spreads, $3.5 commission per lot |
Eligibility based on trading experience and volume |
| Professional Account |
Professionals and institutions |
Higher leverage up to 1:100, tailored services |
Requires proof of trading experience and assets |
| Corporate Account |
Corporate clients |
Customized services, dedicated support |
Requires corporate documentation for opening |
| Islamic Account |
Traders requiring swap-free options |
Compliant with Sharia law, no overnight fees |
Available upon request with appropriate verification |
| Demo Account |
New traders and practice users |
Risk-free environment to practice trading |
Available for all users to explore the platform |
Account Opening Process
To open an account with Sheer Markets, prospective traders must complete a structured process that includes submitting personal, employment, and financial information. During the registration, identity verification is necessary, which involves providing a government-issued ID and proof of address. Additionally, users should note that accounts can be upgraded later, allowing the flexibility to switch to a professional account as trading experience and volumes increase.
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 spreads |
| CFDs (U.S. Stocks) |
N/A |
$0.05 per share, min $10 |
Minimum execution fee applies |
| CFDs (Indices) |
15 bps |
N/A |
Aligns with industry standards |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
Sheer Markets also imposes several additional fees that traders should be aware of. These include deposit and withdrawal fees, which are typically minimal for bank wire transfers. An inactivity fee of €10 per month is charged for accounts that remain inactive for six months. While there are no platform usage fees, traders should consider overnight interest or swap rates for positions held overnight. Currency conversion fees may also apply depending on the trading currency utilized.
