What Account Types and Fees Does Kenanga Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and retail traders |
Low spreads, user-friendly platform |
Suitable for small to medium capital investments |
| Professional Account |
Experienced traders |
High leverage, advanced tools, and analytics |
Requires a minimum trading volume qualification |
| Corporate Account |
Corporate clients |
Customized services, multiple account management |
Requires corporate documentation and verification |
| Islamic Account |
Traders seeking Shariah-compliant options |
Swap-free trading, no interest fees |
Available to all eligible traders |
| Demo Account |
New and practicing traders |
Virtual trading environment with no risk |
Ideal for practicing strategies without financial commitment |
Account Opening Process
Opening an account with Kenanga involves a straightforward process. First, applicants are required to submit personal information, including their full name, contact details, and date of birth. Next, employment information must be provided, detailing the applicant’s occupation and source of income. Following this, financial information, such as investment experience and trading objectives, is collected to tailor the account to the user’s needs. Identity verification is crucial, requiring documents such as a government-issued ID and proof of address (e.g., utility bill). Importantly, Kenanga allows for account flexibility, enabling users to upgrade to a professional account at a later stage if they meet the necessary criteria.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for majors |
| Forex (GBP/USD) |
1.0 |
$0 (ECN: $3.5/lot) |
Competitive for minor pairs |
| CFDs (Stocks) |
0.1% |
$5 per lot |
Based on stock price volatility |
| CFDs (Indices) |
0.5% |
$5 per lot |
Varies with index performance |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
Kenanga also outlines additional fees that traders should be aware of. These include deposit and withdrawal fees, which may vary based on the method used. Inactivity fees apply to accounts that remain dormant for an extended period. Furthermore, there may be platform usage fees, especially for premium tools or services. Traders should also consider overnight interest rates (swap rates) for positions held beyond the trading day, as well as currency conversion fees that might apply when trading in different currencies.
