What Account Types and Fees Does MasterMind Capitals Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Standard Account |
Beginners |
High leverage up to 1:400, no commission |
Minimum deposit of $100 |
| Advance Account |
Intermediate Traders |
Lower spreads starting from 2.5 pips, no commission |
Minimum deposit of $500 |
| Pro Account |
Experienced Traders |
Competitive spreads from 2.0 pips, no commission |
Minimum deposit of $1,000 |
| Elite Account |
Professional Traders |
Spreads from 1.5 pips, no commission |
Minimum deposit of $5,000 |
| VIP Account |
High Net-Worth Individuals |
Best spreads from 1.0 pips, no commission |
Minimum deposit of $7,500 |
| RAW Account |
Professional and Institutional Traders |
Ultra-tight spreads from 0.0 pips, commission applies |
Minimum deposit of $10,000 |
Account Opening Process
To open an account with MasterMind Capitals, prospective traders must follow a series of straightforward steps. First, users need to submit personal information, including name and contact details. Next, employment and financial information will be required to assess the applicant’s trading experience and financial status. Identity verification is crucial, necessitating submission of a government-issued ID and a proof of address document. Once the documentation is verified, users can begin trading. Additionally, there is flexibility in account types, allowing traders to upgrade from a standard account to a professional account as their trading experience and volume increase.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
3.0 |
$0 |
Standard Account |
| Forex (GBP/USD) |
3.5 |
$0 |
Standard Account |
| CFDs (Gold) |
2.0 |
$0 |
Pro Account |
| CFDs (Oil) |
2.5 |
$0 |
Advance Account |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
In addition to trading fees, MasterMind Capitals has several other costs that traders should be aware of. There may be deposit and withdrawal fees depending on the payment method chosen, though no specific fees are outlined for these transactions. Inactivity fees may apply if an account remains dormant for an extended period. Platform usage fees could also be incurred, particularly for premium services. Additionally, traders should consider overnight interest (swap rates) on positions held overnight, as well as potential currency conversion fees when trading in different currencies.
