What Account Types and Fees Does Breakaway Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low minimum deposit, user-friendly interface |
Ideal for those new to trading with limited capital |
| Professional Account |
Experienced traders and institutions |
High leverage, lower spreads, advanced tools |
Requires proof of trading experience and minimum trading volumes |
| Corporate Account |
Businesses and corporations |
Customized services, dedicated account manager |
Documentation of corporate status required |
| Islamic Account |
Traders requiring swap-free options |
No overnight interest charges |
Eligibility based on religious guidelines |
| Demo Account |
New traders and those testing strategies |
Risk-free trading environment with virtual funds |
Accessible to anyone for practice purposes |
Account Opening Process
To open an account with Breakaway, you will need to follow a structured process. First, you’ll submit personal information, including your name, contact details, and nationality. Next, employment and financial information must be provided to assess your trading profile. Identity verification is an essential step, which includes submitting a government-issued ID and proof of address. This ensures a secure trading environment and compliance with regulations. Breakaway offers flexibility in account management, allowing users to upgrade from a retail to a professional account as their trading experience and volume increase.
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 for minor pairs |
| CFDs (Stocks) |
1.5 |
$0 (ECN: $4/lot) |
Standard spreads for equity CFDs |
| CFDs (Indices) |
1.0 |
$0 (ECN: $5/lot) |
Includes major global indices |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
Breakaway also has several associated fees that traders should be aware of. These include deposit and withdrawal fees, which may vary depending on the method used. Additionally, there may be inactivity fees charged if the account remains dormant for an extended period. Platform usage fees are not applicable as Breakaway provides access to its trading platform without additional costs. Traders should also consider overnight interest (swap rates) for positions held beyond the trading day, and currency conversion fees may apply when dealing with multiple currencies.
