What Account Types and Fees Does Simplex Asset Management Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Access to basic trading tools, educational resources, low deposit requirements |
Suitable for small-scale trading and practice |
| Professional Account |
Experienced traders and institutions |
Higher leverage options, advanced trading tools, preferential spreads |
Requires proof of trading experience and financial documentation |
| Corporate Account |
Businesses and corporate clients |
Customizable trading solutions, dedicated account management |
Requires corporate registration documentation |
| Islamic Account |
Muslim traders |
Swap-free trading options, compliance with Sharia law |
Available upon request and verification of eligibility |
| Demo Account |
New traders and those testing strategies |
No risk, practice trading environment, access to virtual funds |
Usually time-limited or balance-restricted |
Account Opening Process
To open an account with Simplex Asset Management, potential clients must go through a structured process that includes the submission of personal, employment, and financial information. This involves providing identification documents, such as a government-issued ID and proof of address, to verify identity and ensure compliance with regulatory standards. The process is designed to be straightforward, and accounts can be upgraded later, allowing users to transition to a professional account as their trading experience and needs evolve.
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 minor pairs |
| CFDs (Stocks) |
0.2 |
$7 per lot |
Varies by stock, with low fees for popular shares |
| CFDs (Indices) |
1.5 |
$5 per lot |
Standard rates for major indices |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market volatility |
Other Fees
Simplex Asset Management may impose various additional fees that traders should be aware of, including deposit and withdrawal fees that could apply depending on the payment method. Inactivity fees may be charged to accounts that remain dormant for an extended period, while platform usage fees could be applicable depending on the trading platform selected. Overnight interest, also known as swap rates, will be applied to positions held overnight, and currency conversion fees may apply when trading in different currencies.
