What Account Types and Fees Does Mahfaza Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Mahfaza Account |
Beginners |
Low spreads, user-friendly platform |
Suitable for small-capital traders |
| Trader Account |
Experienced Traders |
Higher leverage, advanced trading tools |
Requires minimum trading volume |
| Pro Account |
Professional Clients |
Customizable services, tight spreads |
Requires corporate documentation |
Account Opening Process
To open an account with Mahfaza, prospective traders must follow a straightforward process. Initially, users need to submit personal details, including their name, contact information, and nationality. Next, employment information is required, where applicants provide their current job status and income details. Following this, financial information such as trading experience and investment goals must be disclosed. Identity verification is a crucial step, necessitating the submission of a government-issued ID and a proof of address document. Mahfaza offers account flexibility, allowing users to upgrade to a professional account as their trading needs evolve.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.5 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| Forex (GBP/USD) |
0.6 |
$0 (ECN: $3.5/lot) |
Competitive rates for GBP pairs |
| CFDs (Stock Index) |
1.2 |
$5 per lot |
Standard rates for indices |
| CFDs (Commodities) |
1.5 |
$5 per lot |
Market volatility can affect spreads |
Other Fees
There are additional fees that traders should be aware of when using Mahfaza. Deposit and withdrawal fees may apply, depending on the chosen payment method. Inactivity fees are charged if an account remains dormant for an extended period. Platform usage fees are typically non-existent, but traders should verify any specific conditions. Overnight interest, or swap rates, will apply based on the positions held overnight. Lastly, currency conversion fees may incur for accounts using different base currencies.
