What Account Types and Fees Does MIC Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Standard Account |
Beginners |
Low spreads starting from 0.5 pips |
Suitable for small-capital practice |
| Pro Account |
Experienced Traders |
Advanced features with competitive spreads |
Requires higher trading volume qualifications |
| Corporate Account |
Corporate Clients |
Customized services for corporate trading |
Requires corporate documentation |
| Islamic Account |
Traders seeking Sharia-compliant options |
Swap-free trading conditions |
Eligibility based on personal beliefs |
| Demo Account |
All traders |
Practice trading without real funds |
Ideal for testing strategies |
Account Opening Process
To open an account with Multi Investment Company Ltd (MIC), traders need to follow a few straightforward steps. First, they must submit personal information, including name, address, and contact details. Next, employment and financial information are required to assess the trader’s background. After completing this, identity verification is essential, which involves providing valid identification, such as a passport or driver’s license, along with proof of address, such as a utility bill. Once these steps are completed, traders may have the option to upgrade to a professional account in the future if they meet the necessary criteria.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
0.5 |
$0 |
Tight spreads for major pairs |
| Forex (Minor Pairs) |
Varies |
$0 |
Competitive spreads available |
| CFDs (Stocks) |
Varies |
$0 |
Varies depending on stock |
| CFDs (Indices) |
Varies |
$0 |
Includes major global indices |
| CFDs (Commodities) |
Varies |
$0 |
Includes commodities like gold and oil |
| Cryptos (BTC/USD) |
Varies |
$0 |
Variable spreads depending on market |
Other Fees
Additional fees may apply at MIC, including deposit and withdrawal fees, which are not explicitly detailed. Traders should also be aware of potential inactivity fees if their account remains dormant for an extended period. While platform usage fees are not mentioned, any overnight interest, also known as swap rates, may apply for positions held overnight. Additionally, currency conversion fees could be incurred when trading in different currencies.
