BL broker Accounts

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

Part 1: bl Account Types Explained

Available Account Types

1. Standard Account

• Minimum Deposit: $100
• Spread/Commission Structure: Variable spreads starting from 1.5 pips
• Leverage Options: Up to 1:500
• Key Features: Basic trading tools, access to major currency pairs
• Target User Profile: Beginners
• Trading Instruments Available: Forex, commodities, indices

1. ECN Account

• Minimum Deposit: $500
• Spread/Commission Structure: Raw spreads from 0.0 pips + $3 commission per lot
• Leverage Options: Up to 1:200
• Key Features: Direct market access, lower spreads
• Target User Profile: Advanced traders
• Trading Instruments Available: Forex, commodities, cryptocurrencies

1. Pro Account

• Minimum Deposit: $1,000
• Spread/Commission Structure: Competitive spreads starting from 0.1 pips + commission
• Leverage Options: Up to 1:300
• Key Features: Advanced trading tools, priority support
• Target User Profile: Professional traders
• Trading Instruments Available: Forex, commodities, indices, stocks

1. Islamic Account

• Minimum Deposit: $100
• Spread/Commission Structure: Similar to Standard Account
• Leverage Options: Up to 1:500
• Key Features: No swap fees, compliant with Sharia law
• Target User Profile: Muslim traders
• Trading Instruments Available: Forex, commodities, indices

1. Demo Account

• Minimum Deposit: Virtual funds (typically $10,000)
• Spread/Commission Structure: Same as Standard Account
• Leverage Options: Up to 1:500
• Key Features: Practice trading without risk, access to all trading tools
• Target User Profile: Beginners and experienced traders testing strategies
• Trading Instruments Available: Forex, commodities, indices

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Part 2: Detailed bl Account Features

Feature Comparison Across Different Account Types

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $100

• Demo: Virtual funds

• Maximum Leverage:

• Standard: 1:500

• ECN: 1:200

• Pro: 1:300

• Islamic: 1:500

• Demo: 1:500

• Spreads (Typical/Minimum):

• Standard: 1.5 pips

• ECN: 0.0 pips

• Pro: 0.1 pips

• Islamic: 1.5 pips

• Demo: Same as Standard

• Commission Fees:

• Standard: None

• ECN: $3 per lot

• Pro: Variable

• Islamic: None

• Demo: None

• Lot Size:

• Standard: 1 lot

• ECN: 0.1 lot

• Pro: 1 lot

• Islamic: 1 lot

• Demo: 1 lot

• 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

• Demo: Market

• Islamic Account Availability:

• Standard: Yes

• ECN: Yes

• Pro: Yes

• Islamic: N/A

• Demo: N/A

• Swap-Free Options:

• Standard: Yes

• ECN: Yes

• Pro: Yes

• Islamic: N/A

• Demo: N/A

• Demo Account Features:

• Virtual balance, access to all trading tools, unlimited duration for practice.

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit

• User-friendly for beginners

• Access to educational resources

• ECN Account:

• Tight spreads

• Direct market access

• Suitable for high-frequency trading

• Pro Account:

• Advanced trading tools

• Competitive spreads

• Priority customer support

• Islamic Account:

• Compliant with Sharia law

• No swap fees

• Suitable for Muslim traders

• Demo Account:

• Risk-free trading environment

• Practice strategies

• Familiarize with the trading platform

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN

• Limited advanced features

• ECN Account:

• Higher minimum deposit

• Commission fees may add up

• Pro Account:

• High minimum deposit

• Complexity may overwhelm beginners

• Islamic Account:

• Limited availability of some instruments

• May have higher spreads

• Demo Account:

• No real money involved

• Limited to virtual funds

Part 3: bl Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old to open an account.
• Geographic Restrictions: Availability may vary by country; check local regulations.
• Prohibited Countries: Specific countries may be restricted based on local laws.
• Identity Verification Documents Needed:
• Government-issued ID (passport, drivers license)
• Proof of address (utility bill, bank statement)
• Proof of Residence Requirements: Address verification is mandatory.
• Additional Documentation for Professional Accounts: May require financial statements or proof of trading experience.

KYC/AML Compliance Procedures

• Mandatory identity verification to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.

Verification Time Frames

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

Part 4: Step-by-Step bl Account Opening Guide

Detailed Step-by-Step Registration Process

1. Visit Website and Click Registration: Navigate to the official bl website and select the registration option.
2. Personal Information Entry: Fill out personal details such as name, email, and phone number.
3. Choose Account Type: Select the desired account type from the available options.
4. Set Trading Preferences: Specify trading preferences and risk tolerance.
5. Document Upload: Upload 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 account.
8. Start Trading: Access the trading platform and begin trading.

Desktop vs Mobile Registration Differences

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

Common Registration Issues and Solutions

• Issue: Document upload failure.
• 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

• Log into your account, navigate to account settings, and select the option to upgrade or downgrade.

Part 5: bl Demo Account Guide

Demo Account Features and Benefits

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

How to Open a Demo Account

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

Demo Account Limitations

• Limited to virtual funds; no real trading profits can be made.

Virtual Balance Amount

• Typically set at $10,000 for practice.

Demo vs Live Account Differences

• Demo accounts use virtual funds; live accounts involve real money and trading risks.

Duration/Expiry of Demo Accounts

• Demo accounts may have an unlimited duration but can be subject to inactivity policies.

Part 6: bl Islamic Account Details

Swap-Free/Islamic Account Availability

• Available for Standard, ECN, and Pro accounts.

Eligibility Requirements

• Must be a practicing Muslim to qualify for an Islamic account.

Differences from Standard Accounts

• No swap fees applied; otherwise similar features.

How to Apply for Islamic Account

• Select the Islamic account option during the registration process.

Restrictions or Special Conditions

• Must adhere to Islamic finance principles; may have specific trading restrictions.

FAQs – bl Account Types & Opening

1. What account types does bl offer？

• bl 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, Demo: Virtual funds.

1. How long does bl account verification take？

• Verification typically takes 1-3 business days.

1. Does bl offer demo accounts？

• Yes, bl offers demo accounts for practice trading.

1. Can I have multiple account types with bl？

• Yes, you can open multiple account types.

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

• Yes, Islamic accounts are available for Standard, ECN, and Pro accounts.

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

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

1. Can I change my account type after registration？

• Yes, you can upgrade or downgrade your account type through your account settings.