What Account Types and Fees Does UTRADE Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low spreads, access to educational resources |
Suitable for small-capital practice |
| Professional Account |
Experienced traders |
High leverage, advanced trading tools |
Requires proof of trading experience and volume |
| Corporate Account |
Corporate clients |
Custom services, dedicated account manager |
Requires corporate documentation |
| Islamic Account |
Traders requiring Sharia-compliant options |
Swap-free, no overnight interest |
Must provide religious documentation |
| Demo Account |
New traders for practice |
Simulated trading environment |
Limited time access |
Account Opening Process
To open an account with UTRADE, users must follow several steps. Initially, individuals need to submit personal information, including their name, address, and contact details. Next, employment information is required, detailing the applicant’s occupation and employer. Financial information must also be provided, which includes income sources and estimated trading capital. Identity verification is a crucial part of the process, necessitating the upload of identification documents and proof of address. After completing these steps, users can enjoy account flexibility, including the option to upgrade to a professional account in the future if their trading needs change.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| Forex (GBP/USD) |
1.0 |
$0 (ECN: $3.5/lot) |
Competitive rates for minors |
| CFDs (Stocks) |
0.1% |
$5 per lot |
Wide range of stock CFDs available |
| CFDs (Indices) |
0.5% |
$3 per lot |
Includes major global indices |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable based on market conditions |
Other Fees
UTRADE also imposes several additional fees that traders should be aware of. Deposit and withdrawal fees may apply depending on the chosen method. An inactivity fee is charged if no trading activity occurs for a specified period. Platform usage fees are applicable for advanced features, while overnight interest (swap rates) may apply to positions held beyond the trading day. Currency conversion fees can also apply when trading in different currencies.
