What Account Types and Fees Does SWS Futures Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Standard Account |
Beginners to intermediate traders |
Competitive spreads, flexible trading options |
Minimum deposit required to open |
| Premium Account |
Experienced traders |
Lower spreads, enhanced trading conditions |
Higher minimum deposit requirement |
| Islamic Account |
Muslim traders |
Swap-free trading options compliant with Sharia law |
Requires verification of religious status |
| Corporate Account |
Businesses and institutions |
Tailored solutions for corporate trading needs |
Requires corporate documentation |
| Demo Account |
New traders |
Practice trading without financial risk |
No minimum deposit; time-limited access |
Account Opening Process
To open an account with SWS Futures, prospective clients must complete several steps. First, they need to provide personal information, including their name, contact details, and date of birth. Following this, employment information, such as current job status and employer details, must be submitted. Additionally, financial information, including income and trading experience, is required to assess suitability for the chosen account type.
Identity verification is crucial in this process, necessitating the submission of a government-issued ID and proof of address, such as a utility bill or bank statement. Once verification is complete, clients can choose to upgrade their accounts later, such as moving from a Standard to a Premium account, should their trading needs evolve.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| CFDs (S&P 500) |
1.5 |
$0 (ECN: $4/lot) |
Competitive pricing for indices |
| CFDs (Gold) |
0.3 |
$0 (ECN: $3/lot) |
Low spreads on commodities |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market volatility |
Other Fees
In addition to trading fees, SWS Futures may charge various other costs. These include deposit and withdrawal fees, which can vary depending on the method used (e.g., bank transfer, credit card). There may also be inactivity fees applied to accounts that remain dormant for an extended period, typically around 6 months.
Platform usage fees are generally absent, as the broker emphasizes user-friendly access to their trading platforms. However, overnight interest (swap rates) may apply to positions held beyond the trading day. Furthermore, currency conversion fees may be incurred for transactions involving multiple currencies.
