ASKAP broker Accounts

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

Part 1: askap Account Types Overview

askap Account Types Explained

askap offers several account types tailored to different trading needs and levels of experience. Below is a summary of each account type available:

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.5 pips; no commission.
• Leverage Options: Up to 1:500.
• Key Features: User-friendly interface, suitable for beginners.
• Target User Profile: Beginners and casual traders.
• Trading Instruments Available: Forex, commodities, indices.

2. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Raw spreads starting from 0.1 pips; commission of $5 per lot.
• Leverage Options: Up to 1:200.
• Key Features: Direct market access, low latency execution.
• Target User Profile: Experienced traders and scalpers.
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies.

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Spreads starting from 0.5 pips; commission of $3 per lot.
• Leverage Options: Up to 1:300.
• Key Features: Advanced trading tools, higher leverage options.
• Target User Profile: Professional traders and institutions.
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies.

4. Islamic Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Similar to Standard or ECN accounts, but swap-free.
• Leverage Options: Up to 1:200.
• Key Features: Complies with Sharia law; no swap fees.
• Target User Profile: Muslim traders seeking compliant trading options.
• Trading Instruments Available: Forex, commodities, indices.

5. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds).
• Spread/Commission Structure: Same as Standard account.
• Leverage Options: Same as Standard account.
• Key Features: Practice trading without financial risk.
• Target User Profile: Beginners and traders testing strategies.
• Trading Instruments Available: All instruments available in live accounts.

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginners: Standard Account
• Intermediate Traders: ECN Account
• Advanced Traders: Pro Account
• Muslim Traders: Islamic Account
• Practice Traders: Demo Account

Part 2: askap Account Features Comparison

Detailed askap Account Features

When choosing an account type with askap, its essential to consider the features that differentiate them. Below is a comparison of key features across the various account types:

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $500

• Demo: N/A

• Maximum Leverage:

• Standard: 1:500

• ECN: 1:200

• Pro: 1:300

• Islamic: 1:200

• Demo: Same as Standard

• Spreads (Typical/Minimum):

• Standard: 1.5 pips

• ECN: 0.1 pips

• Pro: 0.5 pips

• Islamic: Similar to Standard

• Commission Fees:

• Standard: None

• ECN: $5 per lot

• Pro: $3 per lot

• Islamic: None

• Lot Size:

• Standard: Micro, Mini, Standard

• ECN: Micro, Mini, Standard

• Pro: Micro, Mini, Standard

• Islamic: Micro, Mini, Standard

• Available Trading Platforms:

• All accounts: MT4, MT5

• Execution Type:

• Standard: Market

• ECN: ECN

• Pro: Market

• Islamic: Market

• Islamic Account Availability:

• Available for Islamic Account type only.

• Swap-Free Options:

• Available for Islamic Account type only.

• Demo Account Features:

• Virtual funds, same trading conditions as live accounts.

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit.

• User-friendly interface.

• No commission fees.

• ECN Account:

• Tight spreads.

• Direct market access.

• Suitable for scalping.

• Pro Account:

• Advanced trading tools.

• Lower commission fees.

• Higher leverage options.

• Islamic Account:

• Complies with Sharia law.

• No swap fees.

• Similar features to Standard or ECN accounts.

• Demo Account:

• Risk-free trading environment.

• Access to all trading instruments.

• Ideal for strategy testing.

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN.

• Limited advanced features.

• ECN Account:

• Higher minimum deposit.

• Commission fees can add up.

• Pro Account:

• Requires a significant initial investment.

• More suited for experienced traders.

• Islamic Account:

• Limited availability compared to other accounts.

• May have restrictions on certain trading strategies.

• Demo Account:

• No real money involved.

• Limited to a specific duration.

Part 3: askap Account Opening Requirements

askap Account Registration Requirements

To open an account with askap, potential traders must meet specific eligibility criteria:

• Eligibility Criteria:

• Age Requirements: Must be at least 18 years old.

• Geographic Restrictions: Available in most countries; specific restrictions may apply.

• Prohibited Countries: Countries under international sanctions may be restricted.

• Identity Verification Documents Needed:

• Valid government-issued ID (passport or national ID).

• Proof of address (utility bill or bank statement).

• Proof of Residence Requirements:

• Recent document showing the applicant's name and address.

• Additional Documentation for Professional Accounts:

• May require proof of trading experience or financial status.

• KYC/AML Compliance Procedures:

• All applicants must complete Know Your Customer (KYC) and Anti-Money Laundering (AML) checks.

• Verification Time Frames:

• Account verification typically takes 1-3 business days.

Part 4: askap Account Opening Process

Step-by-Step askap Account Opening Guide

Opening an account with askap involves several straightforward steps:

1. Visit Website and Click Registration: Go to the official askap website and click on the registration button.
2. Personal Information Entry: Fill in your personal details, including name, email, and phone number.
3. Choose Account Type: Select the account type that best suits your trading needs.
4. Set Trading Preferences: Specify your trading preferences, including leverage and trading instruments.
5. Document Upload: Upload the required identity verification documents.
6. Account Verification: Wait for the verification process to complete.
7. Fund Your Account: Deposit the minimum required amount to activate your trading account.
8. Start Trading: Once your account is funded, you can begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, but mobile may have a simplified interface.

Common Registration Issues and Solutions

• Issue: Document upload fails.

• Solution: Ensure documents are clear and in the correct format.

• Issue: Verification delays.

• Solution: Contact customer support for assistance.

Average Account Approval Time

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

How to Upgrade/Downgrade Account Types

• Account type changes can be requested through the customer support portal after logging into your account.

Part 5: askap Demo Account Information

askap Demo Account Guide

The askap demo account is designed for traders to practice without financial risk.

• Demo Account Features and Benefits:

• Access to all trading instruments.

• Virtual funds to simulate real trading conditions.

• Ideal for testing strategies.

• How to Open a Demo Account:

• Follow the same registration process but select the demo account option.

• Demo Account Limitations:

• Limited duration (typically 30 days).

• No access to real funds or trading profits.

• Virtual Balance Amount:

• Typically set at $10,000 in virtual funds.

• Demo vs Live Account Differences:

• Demo accounts use virtual funds; live accounts require real money deposits.

• Duration/Expiry of Demo Accounts:

• Demo accounts typically expire after 30 days of inactivity.

Part 6: askap Islamic Account Details

askap Islamic Account Details

askap offers Islamic accounts that comply with Sharia law.

• Swap-Free/Islamic Account Availability:

• Yes, available for Muslim traders.

• Eligibility Requirements:

• Must be a practicing Muslim.

• Differences from Standard Accounts:

• No swap fees applied to overnight positions.

• How to Apply for Islamic Account:

• Select the Islamic account option during registration.

• Restrictions or Special Conditions:

• Must adhere to Islamic trading principles.

FAQs – askap Account Types & Opening

1. What account types does askap offer？

• askap 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, Demo: N/A.

1. How long does askap account verification take？

• Verification typically takes 1-3 business days.

1. Does askap offer demo accounts？

• Yes, askap offers demo accounts for practice trading.

1. Can I have multiple account types with askap？

• Yes, traders can open multiple account types.

1. Does askap offer Islamic/swap-free accounts？

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

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

• A valid ID and proof of residence are required.

1. Can I change my account type after registration？

• Yes, account type changes can be requested through customer support.