What Account Types and Fees Does Solid Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and experienced traders |
Access to major and minor forex pairs |
Suitable for traders with varying capital |
| Professional Account |
Experienced traders |
Customizable trading conditions with potential for lower spreads |
May require trading volume qualifications |
| Corporate Account |
Corporate clients |
Tailored services for business trading needs |
Requires corporate documentation |
| Islamic Account |
Traders seeking compliance with Islamic finance |
Swap-free trading options |
Available upon request |
| Demo Account |
New traders |
Practice trading without risk |
Ideal for familiarizing with the platform |
Account Opening Process
To open an account with Solid, traders need to follow several steps. Initially, they must provide personal information, including their name and contact details. Next, employment and financial information are submitted to assess the applicant’s trading profile. Identity verification is essential, requiring a valid ID and proof of address to comply with regulatory standards. The process is designed to be efficient, allowing clients to upgrade to a professional account later if they meet the necessary criteria.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
Varies |
$0 |
Competitive spreads available |
| Forex (Minor Pairs) |
Varies |
$0 |
Access to diverse currency pairs |
| CFDs (Stocks) |
Varies |
$X per lot |
Fees may apply based on instrument |
| CFDs (Indices) |
Varies |
$X per lot |
Spreads depend on market conditions |
| Cryptocurrencies |
Varies |
$X per lot |
Market volatility can affect fees |
Other Fees
Traders should also be aware of other potential fees associated with their accounts. These may include deposit and withdrawal fees, which can vary based on the payment method used. Inactivity fees may apply if accounts are dormant for an extended period. Additionally, platform usage fees might be incurred depending on the account type. Overnight interest, also known as swap rates, is applicable to positions held overnight, and currency conversion fees may be charged for transactions involving different currencies.
