What Account Types and Fees Does Yamani Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low spreads and user-friendly interface |
Suitable for small-capital practice |
| Professional Account |
Experienced traders |
High leverage and advanced trading tools |
Requires trading volume qualifications |
| Corporate Account |
Corporate clients |
Customized services and dedicated support |
Requires corporate documentation |
| Islamic Account |
Traders seeking Sharia-compliant options |
Swap-free trading conditions |
Requires verification of eligibility |
| Demo Account |
New traders for practice |
Virtual trading environment |
Unavailable |
Account Opening Process
To open an account with Yamani, traders must follow a straightforward process. It begins with submitting personal information, which includes details such as name, address, and contact number. Next, applicants are required to provide employment and financial information, ensuring that the broker has a comprehensive understanding of their trading background and financial capability. Identity verification is a crucial step, necessitating submission of valid identification documents, such as a government-issued ID and proof of address. This step ensures compliance with regulatory standards. Once the account is set up, traders enjoy the flexibility of upgrading 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 major pairs |
| Forex (GBP/USD) |
1.0 |
$0 (ECN: $3.5/lot) |
Competitive spreads for minors |
| CFDs (Stocks) |
0.1% |
$5 per lot |
Various stocks available |
| CFDs (Indices) |
0.5% |
$3 per lot |
Includes major indices |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
In addition to trading fees, traders should be aware of other costs associated with their accounts at Yamani. These may include deposit and withdrawal fees, which can vary depending on the method used. Inactivity fees may apply if the account remains dormant for an extended period. Platform usage fees are not specified but should be clarified with customer service. Additionally, overnight interest, or swap rates, may incur costs depending on the positions held overnight. Currency conversion fees may also apply for trades involving different currencies.
