What Account Types and Fees Does EagleFX Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Access to high leverage and a wide range of assets |
Designed for small-capital practice with a minimum deposit of $10 |
| Professional Account |
Experienced traders |
Enhanced trading features and tools for sophisticated strategies |
Eligible traders may upgrade from a retail account based on trading volume |
| Demo Account |
All traders |
Practice trading without financial risk |
Ideal for testing strategies and familiarizing with the platform |
Account Opening Process
To open an account with EagleFX, traders will need to follow a straightforward process. Initially, users must submit personal information such as name, email, and phone number. This is followed by providing employment and financial information to assess trading experience and financial capability. Furthermore, identity verification is mandatory, requiring a valid form of identification along with proof of address. The process is designed to be efficient, allowing flexibility for traders who may wish to upgrade their accounts in the future, such as moving to a professional account as their trading volume increases.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
0.8 |
$0 |
Tight spreads for major currency pairs |
| CFDs (Indices) |
1.0 |
$0 |
Standard spreads for indices like S&P 500 |
| CFDs (Commodities) |
1.0 |
$0 |
Includes popular commodities like gold and oil |
| Cryptocurrencies (BTC/USD) |
1.0% |
0.1% |
Variable based on market conditions |
Other Fees
In addition to trading fees, EagleFX may have other costs associated with account management. These may include deposit and withdrawal fees, although currently, there are no fees for these transactions. Inactivity fees may apply if an account remains dormant for an extended period. Additionally, swap rates may be charged for overnight positions, and currency conversion fees could apply when trading in different currencies. Traders should be aware of these potential costs when managing their accounts.
