What Account Types and Fees Does Spiremarket Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners |
Low minimum deposit, access to educational resources |
Suitable for small-capital practice |
| Professional Account |
Experienced traders |
Higher leverage, advanced trading tools |
Requires proof of trading experience |
| Corporate Account |
Corporate clients |
Customized trading solutions, multi-user access |
Requires corporate documentation |
| Islamic Account |
Muslim traders |
Swap-free trading |
Requires eligibility verification |
| Demo Account |
All traders |
Risk-free trading environment |
Ideal for practice and strategy testing |
Account Opening Process
To open an account with Spiremarket, users need to complete several steps. Initially, traders must submit personal information, including their name, email, and phone number. Following this, employment and financial information will be required to assess the trader’s profile. Identity verification is a crucial step, necessitating submission of a valid ID and proof of address. Once the account is set up, users can enjoy flexibility in upgrading to a professional account as their trading experience grows.
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 GBP pairs |
| CFDs (Stocks) |
1.5 |
$5/lot |
Varied depending on stock |
| CFDs (Commodities) |
2.0 |
$3/lot |
Applicable for major commodities |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
Spiremarket may charge various additional fees that traders should be aware of. These include deposit and withdrawal fees, which vary based on the method used. Inactivity fees are applicable after a specified period of account dormancy. Platform usage fees may apply, along with overnight interest (swap rates) for positions held beyond a day. Currency conversion fees could also be incurred when trading in different fiat currencies.
