basis broker Accounts

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

Part 1: basis Account Types Overview

basis Account Types Explained

When considering forex trading, understanding the various account types offered by brokers is crucial. Heres a breakdown of the typical account types available:

Recommended Account Types by Trader Level

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

Part 2: basis Account Features Comparison

Detailed basis Account Features

When comparing the features of different basis account types, consider the following aspects:

• Minimum Deposit: Varies from $100 for Standard and Islamic accounts to $1,000 for Pro accounts.
• Maximum Leverage: Ranges from 1:100 for ECN accounts to 1:500 for Standard and Islamic accounts.
• Spreads:
• Standard accounts typically have variable spreads.
• ECN accounts feature low spreads plus a commission.
• Pro accounts offer tight spreads.
• Commission Fees:
• Standard accounts may have no commission.
• ECN accounts charge a commission on trades.
• Pro accounts generally have lower fees.
• Lot Size:
• Standard accounts allow for micro, mini, and standard lots.
• ECN and Pro accounts typically support standard lots.
• Available Trading Platforms: Most accounts support MT4 and MT5, while some may offer proprietary platforms.
• Execution Type:
• Standard accounts often use market execution.
• ECN accounts provide direct market access.
• Islamic Account Availability: Available for Standard and Islamic accounts.
• Swap-Free Options: Offered in Islamic accounts.
• Demo Account Features: All account types usually come with demo options for practice.

Advantages and Disadvantages of Each Account Type

• Standard Account:

• Advantages: Low minimum deposit, user-friendly.

• Disadvantages: Higher spreads compared to ECN accounts.

• ECN Account:

• Advantages: Low spreads, fast execution.

• Disadvantages: Higher minimum deposit, commission fees.

• Pro Account:

• Advantages: Tight spreads, advanced tools.

• Disadvantages: High minimum deposit, may not suit beginners.

• Islamic Account:

• Advantages: Compliant with Sharia law, no swap fees.

• Disadvantages: Limited availability of certain features.

• Demo Account:

• Advantages: Risk-free trading, practice environment.

• Disadvantages: Limited duration and may not reflect live trading conditions.

Part 3: basis Account Opening Requirements

basis Account Registration Requirements

To open a basis account, you must meet specific eligibility criteria:

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Some countries may be prohibited; check with the broker.
• Prohibited Countries: Specific countries may be restricted based on regulatory compliance.
• Identity Verification Documents Needed:
• Government-issued photo ID (e.g., passport, drivers license).
• Social Security number or Individual Taxpayer Identification Number (ITIN).
• Proof of Residence Requirements: Utility bills or bank statements showing your name and address.
• Additional Documentation for Professional Accounts: May include financial statements or proof of trading experience.

KYC/AML Compliance Procedures

• All clients must undergo Know Your Customer (KYC) and Anti-Money Laundering (AML) checks to verify identity and prevent fraud.

Verification Time Frames

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

Part 4: basis Account Opening Process

Step-by-Step basis Account Opening Guide

1. Visit Website and Click Registration: Navigate to the broker's website and select the registration option.
2. Personal Information Entry: Fill in personal details such as name, email, and phone number.
3. Choose Account Type: Select the type of account you wish to open (Standard, ECN, Pro, etc.).
4. Set Trading Preferences: Indicate your trading preferences, such as leverage and trading style.
5. Document Upload: Upload required documents for identity and address verification.
6. Account Verification: Wait for the broker to verify your submitted documents.
7. Fund Your Account: Once verified, deposit the minimum required amount to activate your account.
8. Start Trading: Access your trading platform and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is generally similar on both platforms, but mobile apps may provide a more streamlined experience.

Common Registration Issues and Solutions

• Issue: Document rejection.
• Solution: Ensure documents are clear and meet the broker's requirements.
• Issue: Delays in verification.
• Solution: Contact customer support for updates.

Average Account Approval Time

• Most accounts are approved within 1-3 business days, depending on the broker's workload.

How to Upgrade/Downgrade Account Types

• Contact customer support or use the broker's platform to request an upgrade or downgrade.

Part 5: basis Demo Account Information

basis Demo Account Guide

• Demo Account Features and Benefits: Allows users to practice trading with virtual funds, access to real market conditions without risk.
• How to Open a Demo Account: Typically available during the account registration process; select the demo option.
• Demo Account Limitations: Limited duration (usually 30-90 days) and may not include all features of live accounts.
• Virtual Balance Amount: Usually set at a predetermined amount (e.g., $10,000).
• Demo vs Live Account Differences: Live accounts involve real money, while demo accounts use virtual funds.
• Duration/Expiry of Demo Accounts: Most demo accounts expire after a set period unless extended by the broker.

Part 6: basis Islamic Account (if available)

basis Islamic Account Details

• Swap-Free/Islamic Account Availability: Offered for Standard and Islamic accounts.
• Eligibility Requirements: Must declare the need for a swap-free account during registration.
• Differences from Standard Accounts: No swap fees; may have different trading conditions.
• How to Apply for Islamic Account: Indicate the request during the account opening process.
• Restrictions or Special Conditions: Must comply with Sharia law; check with the broker for specific terms.

FAQs – basis Account Types & Opening

1. What account types does basis offer？

• basis 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: $100.

1. How long does basis account verification take？

• Verification typically takes 1-3 business days.

1. Does basis offer demo accounts？

• Yes, basis provides demo accounts for practice trading.

1. Can I have multiple account types with basis？

• Yes, traders can open multiple account types as per their needs.

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

• Yes, basis offers Islamic accounts that are compliant with Sharia law.

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

• Government-issued ID, proof of residence, and possibly a Social Security number or ITIN.

1. Can I change my account type after registration？

• Yes, you can request to upgrade or downgrade your account type through customer support.