What Account Types and Fees Does WM Markets Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low minimum deposit, user-friendly interface |
Ideal for those starting out in trading |
| Professional Account |
Experienced traders |
Higher leverage options, tailored services |
Requires proof of trading experience and volume |
| Corporate Account |
Corporate clients |
Custom trading solutions, multiple user access |
Requires corporate documentation |
| Islamic Account |
Traders requiring Sharia-compliant options |
Swap-free trading conditions |
Available upon request, subject to verification |
| Demo Account |
All trader levels |
Practice trading without risk |
Suitable for testing strategies and platform features |
Account Opening Process
To open an account with WM Markets, potential clients typically need to follow these steps: First, submit personal information, including name, address, and contact details. Next, provide employment information and details about financial status. Following this, identity verification is required, which may include submitting a government-issued ID and proof of address. WM Markets allows for account flexibility, meaning that traders can upgrade from a retail to a professional account as their trading experience and volume increase.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
From 0.0 |
$0 (for most pairs) |
Competitive spreads available |
| Forex (Minor Pairs) |
Varies |
$0 |
Standard spreads apply |
| CFDs (Stocks) |
From 1.0 |
$0 |
Zero commission on select stocks |
| CFDs (Indices) |
Varies |
$0 |
Includes major global indices |
| CFDs (Commodities) |
Varies |
$0 |
Includes gold, silver, and oil |
| Cryptocurrencies |
Varies |
$8 per round lot |
Depends on market volatility |
Other Fees
WM Markets may charge various fees associated with trading and account maintenance. These can include deposit and withdrawal fees, which may vary depending on the payment method used. Inactivity fees may also be applicable if an account remains dormant for a specified period. Additionally, there may be overnight interest (swap rates) for positions held overnight, as well as currency conversion fees for transactions involving different currencies.
