What Account Types and Fees Does IGENIUS FX Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Accessible for new traders, standard features |
Ideal for small-capital practice |
| Professional Account |
Experienced traders |
Higher leverage, lower spreads |
Requires trading volume qualifications |
| Corporate Account |
Corporate clients |
Customized services, dedicated support |
Requires corporate documentation |
| Demo Account |
All traders |
Practice trading with virtual funds |
Suitable for testing strategies without risk |
Account Opening Process
Opening an account with IGENIUS FX involves several steps. First, prospective clients need to select the account type that best suits their trading needs. Next, they will complete an online application form that requires personal, employment, and financial information. To comply with regulatory requirements, identity verification is necessary, which typically involves submitting an ID and proof of address. After submission, the application will be reviewed, and clients can expect a prompt approval process. Additionally, IGENIUS FX offers flexibility, allowing clients to upgrade their accounts, such as moving from a retail to a professional account, as their trading experience grows.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| CFDs (S&P 500) |
1.0 |
$0.1 |
Variable, depending on market conditions |
| Cryptos (BTC/USD) |
1.0% |
0.1 |
Variable depending on volatility |
Other Fees
In addition to trading fees, clients should be aware of other potential costs associated with their accounts. This includes deposit and withdrawal fees that may apply to various funding methods. Inactivity fees may also be charged if an account remains dormant for an extended period. Furthermore, platform usage fees could be applicable, alongside overnight interest (swap rates) for positions held overnight. Lastly, currency conversion fees may apply if trading involves different currencies.
