What Account Types and Fees Does Masumo Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low minimum deposit, user-friendly platform |
Suitable for those starting in trading |
| Professional Account |
Experienced traders |
Higher leverage, lower spreads |
Requires proof of trading experience |
| Corporate Account |
Businesses and institutions |
Customizable services, dedicated account manager |
Requires corporate documentation |
| Islamic Account |
Islamic traders |
Swap-free trading conditions |
Must provide proof of Islamic faith |
| Demo Account |
All traders |
Practice trading without risk |
Ideal for testing strategies and learning |
Account Opening Process
To open an account with Masumo, traders must follow a systematic process: First, submit personal information including name, date of birth, and contact details. Next, provide employment details to demonstrate financial stability. Financial information, including income and net worth, is also required. Identity verification is mandatory, requiring valid identification and proof of address. It is important to note that once a trader has a Retail Account, they may upgrade to a Professional Account later if they meet the necessary qualifications.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| Forex (GBP/USD) |
1.0 |
$0 (ECN: $3.5/lot) |
Consistent pricing for key currencies |
| CFDs (Stocks) |
0.1% |
$0 |
Market average spreads |
| CFDs (Indices) |
0.5% |
$0 |
Competitive for major indices |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
In addition to trading fees, Masumo may impose various other costs, including deposit and withdrawal fees, which can vary based on the method used. Inactivity fees may be charged if an account remains dormant for an extended period. There may also be platform usage fees if applicable. Traders should be aware of overnight interest (swap rates) associated with positions held overnight, as well as any currency conversion fees that may apply when trading in different currencies.
