What Account Types and Fees Does Tasman FX Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low spreads, user-friendly platform |
Suitable for small-capital practice |
| Professional Account |
Experienced traders and institutions |
Higher leverage, advanced trading tools |
Requires trading volume qualifications |
| Corporate Account |
Corporate clients and businesses |
Customized services, dedicated support |
Requires corporate documentation |
| Islamic Account |
Traders requiring Sharia-compliant conditions |
Swap-free options, no overnight interest |
Available upon request with documentation |
| Demo Account |
New traders and those testing strategies |
Real market conditions, practice without risk |
Free to open, no trading restrictions |
Account Opening Process
To open an account with Tasman FX, traders must complete several steps. First, submit personal information such as name, contact details, and date of birth. Next, provide employment and financial information to assess suitability for trading. Identity verification is crucial, requiring documentation like an ID and proof of address (e.g., utility bill or bank statement). This process ensures compliance with regulatory standards. Notably, Tasman FX allows for account flexibility; users can upgrade to a professional account later if they meet the necessary criteria.
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 for major pairs |
| CFDs (Stocks) |
0.1% |
$0 (variable based on liquidity) |
Spreads vary based on market conditions |
| CFDs (Indices) |
0.5% |
$0 (variable based on market) |
Includes major global indices |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market volatility |
Other Fees
Tasman FX also has additional fees to consider. Deposit and withdrawal fees may apply depending on the payment method chosen. An inactivity fee is charged if the account remains dormant for an extended period. There are no platform usage fees, making it accessible for all users. Additionally, overnight interest (swap rates) may apply for positions held overnight, and currency conversion fees can occur when trading in non-base currencies.
