What Account Types and Fees Does GOFX Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners to intermediate traders |
Low initial deposit, high leverage options |
Suitable for small-capital practice |
| Professional Account |
Experienced traders |
Customizable trading conditions, tighter spreads |
Requires trading volume qualifications |
| Corporate Account |
Corporate clients |
Dedicated account management, tailored services |
Requires corporate documentation |
| Islamic Account |
Traders requiring swap-free accounts |
Compliant with Sharia law, no overnight interest |
Available upon request with verification |
| Demo Account |
All traders for practice |
Risk-free trading environment, full access to platform features |
No capital required, limited time usage |
Account Opening Process
To open an account with GOFX, follow these steps:
1. Login to your membership page.
2. Navigate to Menu > Open an account > Real account.
3. Select your desired account type, setting a name for your account and choosing leverage.
4. Complete the account opening process, where your account will be displayed under “My account”.
5. Provide necessary personal, employment, and financial information for verification.
6. Submit identity verification documents, including a government-issued ID and proof of address.
7. Once the account is opened, you can upgrade to a professional account if eligible in the future.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| Forex (GBP/JPY) |
1.2 |
$0 (ECN: $3.5/lot) |
Competitive rates for minors |
| CFDs (Stocks) |
1.0 |
$0.5 per share |
Fees vary by stock |
| CFDs (Indices) |
0.5 |
$0 (ECN: $3.0/lot) |
Includes major global indices |
| CFDs (Commodities) |
1.5 |
$0 (ECN: $3.0/lot) |
Includes gold, silver, and oil |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Commission varies with market conditions |
Other Fees
In addition to trading fees, GOFX has the following costs:
– Deposit/Withdrawal Fees: Generally free, though some payment methods may incur charges.
– Inactivity Fees: A fee may apply if the account remains inactive for an extended period.
– Platform Usage Fees: No fees for using the trading platform.
– Overnight Interest (Swap Rates): Applicable for positions held overnight, varying by instrument.
– Currency Conversion Fees: May apply when trading in currencies different from the account denomination.
