What Account Types and Fees Does Finq Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Silver Account |
Beginners |
Low minimum deposit, basic trading conditions |
Suitable for small-capital practice |
| Classic Account |
Casual traders |
Standard trading features, moderate spreads |
Requires a minimum deposit of $1,000 |
| Gold Account |
Experienced traders |
Lower spreads, enhanced trading tools |
Requires a minimum deposit of $10,000 |
| Platinum Account |
Active traders |
Competitive spreads, premium services |
Requires a minimum deposit of $50,000 |
| Exclusive Account |
High-volume traders |
Customized services, lowest spreads |
Requires a minimum deposit of $100,000 |
| Demo Account |
All traders |
Risk-free trading environment with virtual funds |
Ideal for practice without real capital risk |
Account Opening Process
To open an account with Finq, potential traders must submit personal, employment, and financial information. This includes providing identity verification documents such as an ID and proof of address. The account opening process is designed to be straightforward, allowing traders to start with a demo account or a live account based on their preferences. Additionally, users have the flexibility to upgrade to a professional account later as their trading experience and volumes increase.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
Varies |
$0 |
Tight spreads for major currency pairs |
| CFDs (Stocks) |
Varies |
$8 per lot |
Competitive conditions for stock trading |
| CFDs (Indices) |
Varies |
$8 per lot |
Standard fees for index trading |
| CFDs (Commodities) |
Varies |
$8 per lot |
Consistent fees across commodities |
| Cryptocurrencies (BTC, ETH) |
Varies |
0.1% |
Fees may fluctuate with market conditions |
Other Fees
Traders should be aware of various other fees that may apply, including deposit and withdrawal fees, inactivity fees for dormant accounts, and any applicable platform usage fees. Additionally, overnight interest (swap rates) may be charged on positions held overnight, along with potential currency conversion fees for transactions involving different currencies.
