What Account Types and Fees Does SinoPac Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low minimum deposit, user-friendly platform |
Suitable for small-capital practice |
| Professional Account |
Experienced traders |
Higher leverage, advanced trading tools |
Requires proof of trading experience |
| Corporate Account |
Businesses and institutions |
Customized services, multiple user access |
Requires corporate documentation |
| Islamic Account |
Muslim traders |
Swap-free, compliance with Sharia law |
Available upon request |
| Demo Account |
All traders |
Practice trading with virtual funds |
No eligibility requirements |
Account Opening Process
To open an account with SinoPac, potential clients need to follow these steps: first, submit personal information such as name, date of birth, and contact details. Next, employment information should be provided, including occupation and employer details. After that, financial information, including income and net worth, must be disclosed. Identity verification is also required, necessitating the submission of a government-issued ID and proof of address. SinoPac offers flexibility in account types, allowing clients to upgrade to a professional account if they meet specific qualifications later on.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for majors |
| Forex (GBP/USD) |
1.0 |
$0 (ECN: $3.5/lot) |
Competitive pricing |
| CFDs (AAPL) |
0.2% |
$5 |
Varies by stock |
| CFDs (Gold) |
0.4% |
$4 |
Standard across commodities |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
In addition to trading fees, SinoPac may charge deposit and withdrawal fees depending on the payment method. Clients should also be aware of inactivity fees for accounts that remain dormant for a specified period. Platform usage fees may apply for certain advanced features. Overnight interest, or swap rates, will be charged on positions held overnight. Furthermore, currency conversion fees may apply for transactions in different currencies.
