What Account Types and Fees Does IVY Forex Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners |
User-friendly interface, access to basic trading tools |
Suitable for small-capital practice |
| Professional Account |
Experienced Traders |
Higher leverage options, advanced trading features |
Requires trading volume qualifications |
| Demo Account |
All Traders |
Practice trading without risk, simulated market environment |
No capital requirement, ideal for testing strategies |
Account Opening Process
To open an account with IVY Forex, potential clients need to follow several steps. First, they must submit personal information, which includes full name, contact details, and date of birth. Next, employment and financial information are required to assess the trader’s background. Identity verification is a crucial step, necessitating the submission of a government-issued ID and proof of address. After completing these steps, traders can enjoy the flexibility of upgrading to a professional account later if they meet the necessary criteria.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
Varies |
$0 |
Tight spreads for major currency pairs |
| Forex (Minor Pairs) |
Varies |
$0 |
Competitive pricing |
| CFDs (Stocks) |
Varies |
$0 |
Access to various international stocks |
| CFDs (Indices) |
Varies |
$0 |
Includes popular indices like S&P 500 |
| CFDs (Commodities) |
Varies |
$0 |
Includes gold and oil trading |
| Cryptocurrencies |
Varies |
$0 |
Access to major cryptocurrencies |
Other Fees
IVY Forex may impose various fees associated with account activities. Deposit and withdrawal fees can apply, depending on the chosen payment method. Inactivity fees may be charged if there is no trading activity over a specified period. Additionally, if applicable, platform usage fees could be incurred. Traders should also be aware of overnight interest (swap rates) for positions held beyond a trading day and possible currency conversion fees when trading in different currencies.
