What Account Types and Fees Does SHIMADAI Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low minimum deposit, user-friendly interface |
Ideal for small-capital practice |
| Professional Account |
Experienced traders and institutions |
High leverage options, lower spreads |
Requires proof of trading experience |
| Corporate Account |
Corporate clients and institutions |
Customized services, access to advanced trading tools |
Requires corporate documentation and verification |
| Islamic Account |
Traders seeking Sharia-compliant trading |
Swap-free trading, no interest fees |
Requires confirmation of compliance with Islamic finance principles |
| Demo Account |
New traders and those testing strategies |
Practice trading without financial risk, virtual funds |
Available for a limited time to simulate live trading |
Account Opening Process
To open an account with SHIMADAI, prospective clients need to follow a few straightforward steps:
1. Complete a registration form by providing personal information, including your name, address, and contact details.
2. Submit employment details, including your occupation and employer information.
3. Provide financial information to assess your trading experience and risk tolerance.
4. Undergo identity verification by submitting a government-issued ID and proof of address (e.g., utility bill or bank statement).
5. Once verified, you can start trading. SHIMADAI allows for account flexibility, enabling users to upgrade 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 rates for minor pairs |
| CFDs (Stocks) |
0.1 |
$0 (ECN: $4/lot) |
Varies based on stock volatility |
| CFDs (Indices) |
0.5 |
$0 |
Standard rates for index trading |
| Cryptocurrencies (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
SHIMADAI has a few additional fees that traders should be aware of:
– Deposit/withdrawal fees may apply, depending on the payment method chosen.
– Inactivity fees may be charged if the account remains dormant for an extended period.
– There may be platform usage fees associated with specific trading tools or services.
– Overnight interest (swap rates) will apply for positions held overnight; rates vary by currency pair.
– Currency conversion fees may apply for deposits and withdrawals in different currencies.
