What Account Types and Fees Does Shin Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and novice traders |
Low spreads and user-friendly platforms |
Suitable for small-capital practice |
| Professional Account |
Experienced traders |
High leverage and advanced trading tools |
Requires trading volume qualifications |
| Corporate Account |
Corporate clients |
Customized services and reporting features |
Requires corporate documentation |
| Islamic Account |
Traders seeking swap-free options |
Compliant with Islamic finance principles |
Eligibility based on religious beliefs |
| Demo Account |
All traders |
Practice trading without risk |
Available for all user profiles |
Account Opening Process
To open an account with Shin, follow these steps: choose the account type that aligns with your investment goals, such as Retail or Professional. Next, complete the application, which can be done online or by visiting a Shin office. You’ll need to provide personal, employment, and financial information along with required documents for identity verification, such as an ID and proof of address. If you opt for a specific account type, such as a Professional Account, additional criteria may apply. Finally, after submitting your application, there will be an approval process, typically taking around three days. Account flexibility allows for upgrading to a Professional Account at a later stage if desired.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
0.8 |
$0 |
Tight spreads for major currency pairs |
| Forex (Minor Pairs) |
1.2 |
$0 |
Competitive spreads |
| CFDs (Stocks) |
1.5 |
$5 |
Varied commission structure |
| CFDs (Indices) |
1.0 |
$3 |
Standard rates for index trading |
| CFDs (Commodities) |
1.0 |
$4 |
Market-driven spreads |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
Other fees applicable may include deposit and withdrawal charges, inactivity fees, platform usage fees, overnight interest (swap rates), and currency conversion fees. It is advisable to review these costs carefully to understand the impact on trading profitability.
