What Account Types and Fees Does Shikoku Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low entry barriers, user-friendly platform |
Suitable for small-capital practice |
| Professional Account |
Experienced traders |
High leverage, advanced trading tools |
Requires trading volume qualifications |
| Corporate Account |
Corporate clients |
Customized services and support |
Requires corporate documentation |
| Islamic Account |
Islamic traders |
Swap-free trading options |
Must provide relevant documentation |
| Demo Account |
New traders testing strategies |
Practice trading without risk |
Limited availability; not always offered |
Account Opening Process
To open an account with Shikoku, follow these steps: First, fill out the application form with your personal details, including name, address, and contact information. Next, provide your employment details and financial background to establish your trading experience and financial standing. You will also need to submit identity verification documents, such as a government-issued ID and proof of address, to comply with regulatory requirements. It’s worth noting that you have the flexibility to upgrade to a professional account later if your trading volume or experience qualifies you for it.
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 major pairs |
| CFDs (Stocks) |
0.15% – 0.5% |
$5 per lot |
Variable based on stock price |
| CFDs (Indices) |
0.2% |
$5 per lot |
Standard fees for index trading |
| CFDs (Commodities) |
0.3% |
$5 per lot |
Fees vary by commodity |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
Shikoku also imposes several additional fees that traders should be aware of. Deposit and withdrawal fees may apply, typically ranging from JPY 0 to JPY 4,000. There may be inactivity fees if your account is dormant for an extended period. Additionally, check for any platform usage fees, if applicable, as well as overnight interest charges (swap rates) on positions held overnight. Currency conversion fees may also apply when trading in different currencies, which can impact overall trading costs.
