What Account Types and Fees Does Tapbit Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Access to basic trading tools, user-friendly interface |
Suitable for small-capital practice |
| Professional Account |
Experienced traders |
Higher leverage, tighter spreads, advanced trading features |
Requires proof of trading experience or volume |
| Corporate Account |
Corporate clients |
Custom trading solutions, dedicated account management |
Requires corporate documentation |
| Islamic Account |
Islamic traders |
Swap-free trading options |
Requires verification of Islamic compliance |
| Demo Account |
All types of traders |
Practice trading without financial risk |
Ideal for testing strategies or the platform |
Account Opening Process
To open an account with Tapbit, traders must go through a straightforward process that involves several steps. First, users will need to submit personal information, including their name, email, and contact number. Following this, employment and financial information is required to ensure compliance with regulatory standards. Identity verification is crucial and includes submitting a government-issued ID and proof of address. Once the account is set up, there is flexibility to upgrade to a professional account in the future, depending on trading activity and experience.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for majors |
| CFDs (Stocks) |
1.5 |
$2 per lot |
Varies by stock |
| CFDs (Indices) |
1.0 |
$1.5 per lot |
Competitive rates on major indices |
| CFDs (Commodities) |
2.0 |
$2.5 per lot |
Based on market conditions |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
Traders should be aware of various additional fees that may apply when using Tapbit. These include deposit and withdrawal fees, which can vary depending on the payment method used. Additionally, an inactivity fee may apply to accounts that remain dormant for an extended period. There could also be platform usage fees applicable to specific trading tools or features. Overnight interest, or swap rates, may be charged for positions held overnight, and currency conversion fees may apply if trading involves multiple currencies.
