What Account Types and Fees Does NCM Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and retail traders |
Low spreads, access to educational resources |
Minimum deposit of $3,000 |
| Professional Account |
Experienced traders |
Higher leverage, lower spreads |
Requires trading volume qualifications |
| Corporate Account |
Corporate clients |
Customized services, dedicated account management |
Requires corporate documentation |
| Islamic Account |
Traders seeking swap-free options |
Compliance with Sharia law, no overnight interest |
Available upon request |
| Demo Account |
New and prospective traders |
Risk-free trading environment, practice features |
No minimum deposit required |
Account Opening Process
To open an account with NCM, potential traders must complete several steps:
1. Personal Information Submission: Fill out the application form with personal details, including name, contact information, and date of birth.
2. Employment and Financial Information: Provide details about employment status and financial background to assess trading suitability.
3. Identity Verification: Submit identification documents such as a government-issued ID and proof of address (e.g., utility bill).
4. Account Flexibility: Once registered, traders have the option to upgrade to a professional account 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 major pairs |
| Forex (GBP/USD) |
1.0 |
$0 (ECN: $3.5/lot) |
Competitive spreads |
| CFDs (Stocks) |
1.2 |
$10 per lot |
Varied based on stock liquidity |
| CFDs (Indices) |
1.5 |
$5 per lot |
Spreads may widen during volatility |
| CFDs (Commodities) |
2.0 |
$10 per lot |
Standard spreads apply |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
Traders should be aware of additional costs that may apply:
– Deposit/Withdrawal Fees: May vary depending on the payment method selected.
– Inactivity Fees: Charged if the account is dormant for a specified period.
– Platform Usage Fees: Not applicable, as NCM does not impose fees for using its trading platform.
– Overnight Interest (Swap Rates): Applicable for positions held overnight unless in an Islamic account.
– Currency Conversion Fees: May apply for accounts operating in different currencies.
