AWRAQ broker Accounts

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

awraq Account Types Explained

Awraq offers a variety of account types to cater to different trading needs. Below is a detailed overview of the available account types, their features, and target user profiles.

1. Standard Account

• Minimum Deposit Requirement: Varies by platform (typically around $500)
• Spread/Commission Structure: Variable spreads starting from 1.5 pips; no commission
• Leverage Options: Up to 1:500
• Key Features:
• Access to major currency pairs and commodities
• User-friendly trading platform
• Target User Profile: Beginners and intermediate traders
• Trading Instruments Available: Forex, commodities, indices

2. ECN Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Raw spreads from 0.0 pips; commission of $3 per lot
• Leverage Options: Up to 1:200
• Key Features:
• Direct market access
• Faster execution speeds
• Target User Profile: Advanced traders and scalpers
• Trading Instruments Available: Forex, commodities, cryptocurrencies

3. Pro Account

• Minimum Deposit Requirement: $5,000
• Spread/Commission Structure: Tight spreads starting from 0.1 pips; lower commission rates
• Leverage Options: Up to 1:100
• Key Features:
• Advanced trading tools and analytics
• Dedicated account manager
• Target User Profile: Professional traders and institutions
• Trading Instruments Available: Forex, commodities, indices, stocks

4. Islamic Account

• Minimum Deposit Requirement: Same as Standard or ECN accounts
• Spread/Commission Structure: Similar to respective account types but without swap fees
• Leverage Options: Same as Standard or ECN accounts
• Key Features:
• Complies with Sharia law
• No interest or swap fees
• Target User Profile: Traders of Islamic faith
• Trading Instruments Available: Forex, commodities

5. Demo Account

• Minimum Deposit Requirement: Virtual balance (typically $10,000)
• Spread/Commission Structure: Same as Standard account
• Leverage Options: Same as Standard account
• Key Features:
• Risk-free trading environment
• Access to all trading instruments
• Target User Profile: Beginners and traders testing strategies
• Trading Instruments Available: Forex, commodities, indices

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Detailed awraq Account Features

Account Features Comparison

The following features are compared across different account types:

• Minimum Deposit:

• Standard: $500

• ECN: $1,000

• Pro: $5,000

• Islamic: Same as respective accounts

• Demo: Virtual balance

• Maximum Leverage:

• Standard: Up to 1:500

• ECN: Up to 1:200

• Pro: Up to 1:100

• Islamic: Same as respective accounts

• Spreads:

• Standard: From 1.5 pips

• ECN: From 0.0 pips

• Pro: From 0.1 pips

• Islamic: Same as respective accounts

• Commission Fees:

• Standard: None

• ECN: $3 per lot

• Pro: Lower rates

• Islamic: None

• Lot Size:

• Standard: Micro, Mini, Standard

• ECN: Micro, Mini, Standard

• Pro: Standard

• Islamic: Micro, Mini, Standard

• Available Trading Platforms:

• Standard: MT4, MT5

• ECN: MT4, MT5

• Pro: MT4, MT5

• Islamic: MT4, MT5

• Demo: MT4, MT5

• Execution Type:

• Standard: Market

• ECN: ECN

• Pro: Market

• Islamic: Market

• Islamic Account Availability: Yes for Islamic Account

• Swap-Free Options: Available for Islamic Account

• Demo Account Features: Available for all account types

Advantages and Disadvantages of Each Account Type

Standard Account

• Advantages:
• Low minimum deposit
• User-friendly interface
• No commission fees
• Disadvantages:
• Higher spreads compared to ECN
• Limited advanced features

ECN Account

• Advantages:
• Tight spreads
• Direct market access
• Suitable for scalping
• Disadvantages:
• Higher minimum deposit
• Commission fees apply

Pro Account

• Advantages:
• Advanced trading tools
• Lower commission rates
• Personalized support
• Disadvantages:
• High minimum deposit
• More complex for beginners

Islamic Account

• Advantages:
• Complies with Sharia law
• No swap fees
• Disadvantages:
• Limited availability for non-Islamic traders

Demo Account

• Advantages:
• Risk-free environment
• Practice trading strategies
• Disadvantages:
• Virtual funds only
• Limited to a specific time frame

awraq Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents of Jordan and select countries.
• Prohibited Countries: Specific countries may be restricted; check with awraq for details.
• Identity Verification Documents Needed:
• Government-issued ID (e.g., passport, national ID)
• Proof of address (e.g., utility bill, bank statement)
• Proof of Residence Requirements: Recent documents showing current address.
• Additional Documentation for Professional Accounts: May require financial statements or business registration documents.

KYC/AML Compliance Procedures

• Customers must complete Know Your Customer (KYC) and Anti-Money Laundering (AML) checks as part of the registration process.

Verification Time Frames

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

Step-by-Step awraq Account Opening Guide

Detailed Registration Process

1. Visit the Website: Go to the official awraq website.
2. Click Registration: Find and click on the registration button.
3. Personal Information Entry: Fill in personal details such as name, email, and phone number.
4. Choose Account Type: Select the desired account type from the options available.
5. Set Trading Preferences: Specify trading preferences and risk tolerance.
6. Document Upload: Upload required identity and proof of residence documents.
7. Account Verification: Wait for verification, which can take 1-3 business days.
8. Fund Your Account: Once verified, deposit funds to start trading.
9. Start Trading: Access the trading platform and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, though the mobile interface may have simplified steps for ease of use.

Common Registration Issues and Solutions

• Issue: Document rejection due to poor quality.
• Solution: Ensure all documents are clear and legible before uploading.
• Issue: Delays in verification.
• 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

• Users can request an upgrade or downgrade through the account management section on the awraq platform or by contacting customer support.

awraq Demo Account Guide

Demo Account Features and Benefits

• Provides a risk-free environment to practice trading.
• Access to all trading instruments available in live accounts.

How to Open a Demo Account

• Follow the same registration process as for live accounts, selecting the demo account option.

Demo Account Limitations

• Limited to a virtual balance and may have an expiry date (typically 30 days).

Virtual Balance Amount

• Usually set at $10,000 for practice purposes.

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 unless extended.

awraq Islamic Account Details

Swap-Free/Islamic Account Availability

• Awraq offers Islamic accounts that comply with Sharia law, ensuring no interest or swap fees.

Eligibility Requirements

• Must declare the need for an Islamic account during the registration process.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees and have similar trading conditions to standard accounts.

How to Apply for Islamic Account

• Select the Islamic account option during the registration process or request it through customer support.

Restrictions or Special Conditions

• Islamic accounts may have specific trading conditions; consult with awraq for detailed terms.

FAQs – awraq Account Types & Opening

1. What account types does awraq offer？

• Awraq offers Standard, ECN, Pro, Islamic, and Demo accounts.

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

• Standard: $500, ECN: $1,000, Pro: $5,000, Islamic: Same as respective accounts, Demo: Virtual balance.

1. How long does awraq account verification take？

• Account verification typically takes 1-3 business days.

1. Does awraq offer demo accounts？

• Yes, awraq provides demo accounts for practice trading.

1. Can I have multiple account types with awraq？

• Yes, users can open multiple account types.

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

• Yes, awraq offers Islamic accounts that comply with Sharia law.

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

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

1. Can I change my account type after registration？

• Yes, users can request to upgrade or downgrade their account type through customer support.