What Account Types and Fees Does SBI FXTRADE Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners to intermediate traders |
Low minimum deposit, user-friendly platform |
Suitable for retail traders looking to start with a small capital |
| Professional Account |
Experienced traders |
Higher leverage, access to advanced trading tools |
Requires proof of trading experience and minimum trading volume |
| Corporate Account |
Corporate clients |
Customizable trading solutions, multiple users |
Requires corporate documentation and verification |
| Islamic Account |
Muslim traders |
Swap-free trading options |
Must provide proof of eligibility for Islamic compliance |
| Demo Account |
All traders |
No risk practice environment, access to all features |
Ideal for testing strategies without financial risk |
Account Opening Process
To open an account with SBI FXTRADE, follow these steps:
1. Navigate to the account application button on the website.
2. Enter your email address to receive an application link.
3. Complete the application form with your personal details, including name, date of birth, and address, as per your identity verification documents.
4. Provide your Japanese “MyNumber” for verification.
5. Submit employment and financial information as requested.
6. Undergo identity verification by providing an ID and proof of address.
7. Wait for confirmation of your application.
The account is flexible, allowing you to upgrade to a professional account later.
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 popular pairs |
| CFDs (Major Indices) |
1.5 |
$0 |
Includes popular global indices |
| CFDs (Commodities) |
2.0 |
$0 |
Variety of commodities available |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable based on market conditions |
Other Fees
SBI FXTRADE may apply various additional fees, including:
– Deposit/withdrawal fees: Normal deposits may incur transfer fees.
– Inactivity fees: Accounts may be charged if inactive for a specified duration.
– Platform usage fees: None applicable for standard accounts.
– Overnight interest (swap rates): Applicable for holding positions overnight.
– Currency conversion fees: May apply on trades involving different currencies.
