What Account Types and Fees Does Cathay Futures Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low minimum deposit, user-friendly platform |
Ideal for those starting in trading |
| Professional Account |
Experienced traders |
Higher leverage, advanced trading tools |
Requires trading volume verification |
| Corporate Account |
Business entities |
Customized services, multiple trading options |
Requires corporate documentation |
| Islamic Account |
Traders requiring compliance with Sharia law |
Swap-free trading options |
Available upon request with proof of eligibility |
| Demo Account |
New traders and those testing strategies |
Risk-free environment with virtual funds |
Unlimited access to practice trading |
Account Opening Process
The account opening process at Cathay Futures involves several straightforward steps. First, prospective clients must submit personal information, which includes their full name, contact details, and date of birth. Next, employment details are required, such as current occupation and employer information. Additionally, financial information, including income sources and estimated trading capital, must be provided. Identity verification is an essential part of the process, necessitating the submission of a government-issued ID and proof of address, such as a utility bill or bank statement. Once the account is opened, traders have the flexibility to upgrade to a professional account later, should their trading activity and volume justify the transition.
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) |
1.2 |
$0 (ECN: $3.5/lot) |
Competitive for minor pairs |
| CFDs (Stocks) |
0.1% |
$5 per lot |
Varies by stock |
| CFDs (Indices) |
0.5% |
$3 per lot |
Standard rates |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
In addition to trading fees, there are other costs associated with account management at Cathay Futures. These include deposit and withdrawal fees that may vary based on the payment method used. Inactivity fees may apply if an account remains dormant for an extended period. Users should be aware of platform usage fees, if applicable, which could be charged for advanced features. Overnight interest, or swap rates, will be incurred for positions held overnight. Additionally, currency conversion fees may apply when trading assets in different currencies, which could impact overall trading costs.
