What Account Types and Fees Does Umarkets Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Mini Forex Account |
Beginners |
Low minimum deposit, access to forex markets |
Ideal for traders with limited capital |
| Standard Forex Account |
Intermediate traders |
Moderate minimum deposit, more trading options |
Suitable for those with some trading experience |
| Gold Forex Account |
Experienced traders |
Higher leverage, enhanced trading features |
Requires a higher minimum deposit |
| Platinum Forex Account |
High-capital investors |
Premium services, personalized support |
Targets professional and corporate clients |
| Islamic Account |
Islamic traders |
Swap-free trading conditions |
Available for traders adhering to Islamic finance principles |
| Demo Account |
All traders |
Practice trading without financial risk |
Perfect for testing strategies and the platform |
Account Opening Process
To open an account with Umarkets, traders need to follow a straightforward process. First, they must provide personal details including name, email, and phone number. Next, employment information should be submitted, including job title and employer. Financial information, such as income and trading experience, is also required. Identity verification is crucial; traders must upload an identification document and proof of address. After these steps, the account will be created, and traders have the option to upgrade to a professional account later on if they meet the necessary criteria.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
1.6 |
$0 (ECN: $3.5/lot) |
Competitive spreads for major pairs |
| Forex (GBP/USD) |
1.8 |
$0 (ECN: $3.5/lot) |
Attractive for active traders |
| CFDs (Stocks) |
0.1% |
$5 per lot |
Standard rates for equity trading |
| CFDs (Indices) |
0.5% |
$5 per lot |
Includes major global indices |
| CFDs (Commodities) |
0.2% |
$5 per lot |
Variety of commodities available |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Market-dependent volatility |
Other Fees
Umarkets has several additional fees that traders should consider. While there are no deposit fees associated with most payment methods, withdrawal fees may apply depending on the chosen method. Inactivity fees may be charged if the account remains dormant for an extended period. Users should also be aware of potential platform usage fees if applicable. Furthermore, overnight interest (swap rates) applies to positions held beyond the trading day, and currency conversion fees may occur when trading in different currencies.
