What Account Types and Fees Does Maxify Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Standard Account |
Beginners and casual traders |
Low minimum deposit, no commission fees |
Suitable for small-capital practice |
| Zero Account |
Experienced traders |
No spread, higher minimum deposit |
Best for high-frequency trading |
| Business Account |
Corporate clients |
Higher leverage, tailored services |
Requires corporate documentation |
| Islamic Account |
Muslim traders |
Swap-free, compliant with Sharia law |
Must request during account setup |
| Demo Account |
All trader levels |
Practice trading without risk |
Ideal for learning the platform |
Account Opening Process
To open an account with Maxify, you need to follow a straightforward process. Initially, you will submit your personal information, including your name, email address, and phone number. Next, you’ll provide details about your employment and financial background to ensure suitability for trading. Identity verification is a crucial step, requiring you to upload a government-issued ID and proof of address, such as a utility bill or bank statement. Once your documents are verified, your account will be activated. Additionally, Maxify allows flexibility to upgrade your account to a professional tier later on if your trading needs evolve.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.0 |
$0 |
Tight spreads for major pairs |
| Forex (GBP/USD) |
0.5 |
$0 |
Competitive rates |
| CFDs (Gold) |
3.0 |
$0 |
Standard spread applies |
| CFDs (Oil) |
4.0 |
$0 |
Wider spreads due to volatility |
| Cryptos (BTC/USD) |
1.0% |
$0.1 |
Variable depending on market conditions |
Other Fees
Maxify may impose various fees on its trading accounts, including: – Deposit and withdrawal fees may apply depending on the method chosen, with crypto deposits being free of charge. – Inactivity fees are charged for accounts dormant for over six months. – There are no explicit platform usage fees, but priority services like 24/7 phone support may incur additional charges. – Overnight interest, also known as swap rates, can apply to positions held overnight. – Currency conversion fees may apply when trading in different currencies.
