What Account Types and Fees Does Wealthengine Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners to intermediate traders |
Low minimum deposit, user-friendly interface, educational resources |
Ideal for small-capital traders, no specific requirements |
| Professional Account |
Experienced traders |
Higher leverage, lower spreads, advanced trading tools |
Requires trading experience and minimum trading volume |
| Corporate Account |
Corporate clients |
Customizable solutions, dedicated account manager |
Requires corporate documentation and verification |
| Islamic Account |
Muslim traders |
Swap-free trading, compliant with Sharia law |
Available for all account types upon request |
| Demo Account |
All traders |
Practice trading without risk, access to market data |
Suitable for testing strategies and learning |
Account Opening Process
To open an account with Wealthengine, follow these steps: First, submit your personal information, including your full name, date of birth, and contact details. Next, provide employment information such as your job title and employer. After that, you will be required to complete a financial information section detailing your trading experience and financial status. Identity verification is crucial, so ensure to upload a valid ID and proof of address (such as a utility bill). Wealthengine offers account flexibility, allowing you to upgrade from a Retail Account to a Professional Account later if you meet the required criteria.
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) |
Competitive spreads for minors |
| CFDs (Stocks) |
1.5 |
$0.5 |
Varied spreads based on liquidity |
| CFDs (Indices) |
0.9 |
$1.0 |
Effective for major indices |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market volatility |
Other Fees
Wealthengine also imposes various other fees that traders should be aware of, including deposit and withdrawal fees, which may vary depending on the payment method used. Additionally, there might be inactivity fees charged if an account remains dormant for an extended period. If applicable, platform usage fees may be incurred for advanced trading tools. Overnight interest (swap rates) applies to positions held overnight, and currency conversion fees may be charged for transactions in different currencies.
