What Account Types and Fees Does maxco Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and intermediate traders |
Low minimum deposit, access to educational resources, and demo account availability |
Suitable for small-capital practice and learning |
| Professional Account |
Experienced traders |
Higher leverage options, lower spreads, and access to advanced trading tools |
Requires trading volume qualifications |
| Corporate Account |
Corporate clients |
Customized services, multi-user access, and corporate trading solutions |
Requires corporate documentation and verification |
| Islamic Account |
Traders requiring Sharia-compliant trading |
Swap-free trading options, similar spreads to retail accounts |
Eligibility based on religious beliefs |
| Demo Account |
New traders and those testing strategies |
Access to virtual funds for practice, full functionality of trading platforms |
Valid for one month with options to extend |
Account Opening Process
To open an account with maxco, users need to follow a straightforward process that involves submitting personal, employment, and financial information. This includes providing identity verification documents such as a government-issued ID and proof of address. Once the application is submitted, the verification process typically takes a short time. Additionally, maxco offers flexibility in account types, allowing users to upgrade to a professional account later as their trading experience and volume increase.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$1 per lot |
Tight spreads for major pairs |
| Forex (GBP/USD) |
1.0 |
$1 per lot |
Competitive spreads on minor pairs |
| CFDs (Stocks) |
1.5 |
$1 per lot |
Varied depending on the stock |
| CFDs (Indices) |
1.2 |
$1 per lot |
Market indices with reasonable spreads |
| CFDs (Commodities) |
2.0 |
$1 per lot |
Includes gold and oil |
| Cryptos (BTC/USD) |
1.0% |
$1 per lot |
Variable depending on market conditions |
Other Fees
Maxco has several other fees that traders should consider:
– Deposit/withdrawal fees: No fees for deposits or withdrawals through local bank methods.
– Inactivity fees: Fees may apply if the account is inactive for an extended period.
– Platform usage fees: Generally, there are no additional fees for using the trading platforms.
– Overnight interest (swap rates): Applicable based on positions held overnight, varies per instrument.
– Currency conversion fees: May apply when trading in a currency different from the account currency.
