What Account Types and Fees Does Sicher Mayor Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Standard Account |
Beginners and casual traders |
Low minimum deposit, competitive spreads |
Suitable for small-capital practice |
| ECN Account |
Experienced traders seeking direct market access |
Tight spreads, low latency execution |
Requires higher trading volume qualifications |
| VIP Account |
High-volume traders and institutional clients |
Premium services, lower commissions |
Requires significant initial deposit and trading history |
| Copy Trading Account |
Traders looking to replicate strategies of experienced investors |
Automatic trade copying, leveraged trading |
Requires understanding of risk management |
Account Opening Process
To open an account with Sicher Mayor, individuals must go through a structured process that involves several steps. First, potential clients need to submit personal information, including their name, email, and contact details. Following this, employment and financial information will also be required to assess suitability for various account types.
Identity verification is crucial; applicants will need to provide an official ID and proof of address, such as a utility bill or bank statement. This process ensures compliance with anti-money laundering regulations.
Moreover, Sicher Mayor offers flexibility in account management, 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) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| CFDs (Stocks) |
1.0 |
$5 per lot |
Commission-based structure |
| CFDs (Indices) |
1.5 |
$3 per lot |
Competitive fees for major indices |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable based on market conditions |
Other Fees
Sicher Mayor applies several additional fees that traders should be aware of. There may be deposit and withdrawal fees depending on the method chosen, such as credit cards or wire transfers. Inactivity fees could be charged if an account remains dormant for an extended period.
Additionally, platform usage fees are not specified, so users may need to verify them directly with customer support. Traders should also consider potential overnight interest charges (swap rates) on positions held overnight, as well as any currency conversion fees that might apply when trading in different currencies.
