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Elana Trading Fees and Spreads

Elana Trading Fees and Spreads

 

Overall Rating

4.7/5

Rated #238 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

5000+

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Elana Trading spreads start from 0.8 pips and does not charge a commission. Elana Trading does not charge for both deposit fees and withdrawal fees.

Elana also charges an inactive fee of $10 per 6 months.

Finding a reputable list about Elana Trading Fees and Spreads local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth Fees and Spreads review regarding this regulated Forex Company, which will assist traders and allow traders to invest in their currency.

 

Fees and Spreads

 

Elana Trading spreads start from 0.8 pips on EUR/USD.

The spread list and fee schedule which is offered by Elana Trading is transparent as well as competitive. Fees, spreads, and commissions that traders can expect when trading with Elana Trading is as follows:

 

  • Even though Elana Trading offers tight spreads they do not charge commission.
  • Traders can trade both mini and micro lots and there are no overnight fees charged.
  • CFDs – CFDs have no commissions which are charged.
  • There is a fee for inactivity on accounts after six months but the amount is not specified.

 

Additional Trading Fees

 

When trading financial instruments such as forex, traders can often expect that overnight, or swap fees will be charged when positions are held for longer than a trading day.

According to Elana Trading, short positions which are held overnight will be credited with swaps. These are calculated based on the one-month interbank rate minus 2%.

Should long positions be held overnight, traders will be debited with swaps. This is calculated according to the one-month interbank rate plus 2%.

For more information on the swaps that traders can expect, traders can consult the Elana Trading website. The broker makes adequate provision, where forex is concerned, to supply a breakdown of each forex pair and the swap long and swap short rates in pips.

Elana Trading does not make provision for an Islamic Account for Muslim traders who follow the Sharia Law, and thus prohibited from earning or paying interest where the holding of open positions is concerned.

Elana Trading does not offer spread betting and thus spread betting fees do not apply.

 

Overall Rating

4.7/5

Rated #238 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

5000+

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Broker Fees

Elana Trading does not charge for both deposit fees and withdrawal fees on the following payment methods used:

Deposits

  • Credit/Debit Cards
  • Bank Wire Transfer

 

Withdrawals

  • Credit/Debit Cards
  • Bank Wire Transfer

 

Traders also need to ensure that they verify additional charges which may be waived by their financial institution. In addition, traders may be subjected to currency conversion fees should they transfer fees in a currency that is different from their account base currency.

 

Pros and Cons

✔️ PROS ❌CONS
Tight Spreads No Islamic Account
No commission No US clients allowed
Well regulated
Competitive trading conditions
No minimum deposit

 

You might also like: Elana Trading Minimum Deposit

You might also like: Elana Trading Demo Account

You might also like: Elana Trading Sign up Bonus

You might also like: Elana Trading Account types

 

FAQ’s

 

How many instruments can I trade with Elana Trading?

You can trade the following financial instruments:

Over 180 currency pairs, precious metals, binary options, CFDs, shares, futures, options and ETFs.

 

Which platforms are supported by Elana Trading?

MetaTrader 4 and Elana Global Trader

 

Does Elana Trading offer leverage?

Yes, maximum leverage of 1:200

 

What spreads can I expect with Elana Trading?

Elana Trading offers tight spreads on its offerings.

 

Does Elana Trading charge commission?

No, Elana Trading does not charge a commission.

 

Is Elana Trading regulated?

Yes, Elana Trading is regulated by the Bulgarian Financial Supervision Commission (FSC).

 

Is Elana Trading a recommended forex trading broker for experts and beginners?

Yes. Elana Trading caters for both beginners and experts.

 

What is the overall rating out of 10 for Elana Trading?

8/10

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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