114Bank broker Accounts

114bank Account Types & Opening Guide 2025: Complete Comparison and Registration Steps

Part 1: 114bank Account Types Overview

114bank Account Types Explained

114bank offers a variety of account types tailored to meet the needs of different traders. Below is an overview of the available account types:

Recommended Account Types by Trader Level

• Beginner: Standard Account
• Intermediate: Pro Account
• Advanced: ECN Account
• Institutional: Pro Account

Part 2: 114bank Account Features Comparison

Detailed 114bank Account Features

Heres a comparison of the features across different account types:

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit

• Suitable for beginners

• No commission fees

• ECN Account:

• Tight spreads

• Direct market access

• Suitable for scalpers

• Pro Account:

• Advanced trading tools

• Priority customer support

• Suitable for institutional traders

• Islamic Account:

• Compliant with Sharia law

• No swap fees

• Available for all trading instruments

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN

• Limited advanced features

• ECN Account:

• Higher minimum deposit

• Commission fees apply

• Pro Account:

• High minimum deposit

• More complex features may overwhelm beginners

• Islamic Account:

• Limited to Muslim traders

• May have higher spreads than Standard accounts

Part 3: 114bank Account Opening Requirements

114bank Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents in most countries; specific restrictions may apply.
• Prohibited Countries: Countries under international sanctions may be restricted.
• Identity Verification Documents Needed:
• Government-issued ID (passport or national ID)
• Proof of address (utility bill, lease agreement)
• Proof of Residence Requirements: Recent documents showing your current address.
• Additional Documentation for Professional Accounts: Business registration documents, tax identification number.

KYC/AML Compliance Procedures

114bank adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring all clients to verify their identity and provide relevant documentation.

Verification Time Frames

Account verification typically takes 1-3 business days, depending on the completeness of the submitted documents.

Part 4: 114bank Account Opening Process

Step-by-Step 114bank Account Opening Guide

1. Visit Website: Go to the official 114bank website.
2. Click Registration: Locate the registration button on the homepage.
3. Personal Information Entry: Fill in your personal details, including name, email, and phone number.
4. Choose Account Type: Select the account type that suits your trading needs.
5. Set Trading Preferences: Indicate your trading preferences and goals.
6. Document Upload: Upload the required identification and proof of residence documents.
7. Account Verification: Wait for the bank to verify your documents.
8. Fund Your Account: Once approved, deposit the minimum required amount to start trading.
9. Start Trading: Access your trading platform and begin trading.

Desktop vs Mobile Registration Differences

The registration process is similar on both desktop and mobile platforms, with mobile registration optimized for smaller screens.

Common Registration Issues and Solutions

• Issue: Document upload fails.
• Solution: Ensure files are in the correct format and within size limits.
• Issue: Verification delays.
• Solution: Contact customer support for assistance.

Average Account Approval Time

Typically, account approval takes between 1-3 business days.

How to Upgrade/Downgrade Account Types

Account holders can request an upgrade or downgrade through the customer support portal after meeting the minimum deposit requirements for the desired account type.

Part 5: 114bank Demo Account Information

114bank Demo Account Guide

Demo Account Features and Benefits

• Practice trading without financial risk.
• Access to real market conditions.
• Use of virtual funds to simulate trading.

How to Open a Demo Account

1. Visit the 114bank website.
2. Select the demo account option.
3. Fill in the required information.
4. Receive login credentials for the demo account.

Demo Account Limitations

• Limited to virtual funds.
• May have a time limit on usage.

Virtual Balance Amount

Typically, demo accounts come with a virtual balance of $100,000.

Demo vs Live Account Differences

Demo accounts do not involve real money and may have different trading conditions compared to live accounts.

Duration/Expiry of Demo Accounts

Demo accounts usually expire after 30 days unless extended by the bank.

Part 6: 114bank Islamic Account (if available)

114bank Islamic Account Details

Swap-Free/Islamic Account Availability

The Islamic account is available for traders who require a swap-free option due to religious beliefs.

Eligibility Requirements

Must provide proof of Muslim faith and comply with the bank's requirements.

Differences from Standard Accounts

Islamic accounts do not incur swap fees and are structured to comply with Sharia law.

How to Apply for Islamic Account

Select the Islamic account option during the registration process and provide necessary documentation.

Restrictions or Special Conditions

Islamic accounts may have specific trading conditions, including limits on certain trading strategies.

FAQs – 114bank Account Types & Opening

1. What account types does 114bank offer？

• 114bank offers Standard, ECN, Pro, Islamic, and Demo accounts.

1. What is the minimum deposit for each account type？

• Standard: $100, ECN: $500, Pro: $1,000, Islamic: $500.

1. How long does 114bank account verification take？

• Verification typically takes 1-3 business days.

1. Does 114bank offer demo accounts？

• Yes, 114bank offers demo accounts for practice trading.

1. Can I have multiple account types with 114bank？

• Yes, clients can hold multiple account types.

1. Does 114bank offer Islamic/swap-free accounts？

• Yes, 114bank provides Islamic accounts that are swap-free.

1. What documents do I need to open a 114bank account？

• A government-issued ID and proof of residence are required.

1. Can I change my account type after registration？

• Yes, account types can be upgraded or downgraded through customer support.