BMD broker Accounts

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

Part 1: bmd Account Types Explained

BMD offers several account types tailored to different trading needs and experience levels. Below is an overview of the available account types:

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.0 pips; no commission.
• Leverage Options: Up to 1:500.
• Key Features: Ideal for beginners; access to a wide range of trading instruments.
• 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 from 0.0 pips; commission of $3 per lot.
• Leverage Options: Up to 1:200.
• Key Features: Direct market access; lower spreads; suitable for scalping.
• Target User Profile: Advanced traders and scalpers.
• Trading Instruments Available: Forex, commodities, cryptocurrencies.

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Tight spreads starting from 0.5 pips; commission of $2 per lot.
• Leverage Options: Up to 1:300.
• Key Features: Enhanced trading conditions; priority execution.
• Target User Profile: Professional traders and institutions.
• Trading Instruments Available: Forex, indices, stocks.

4. Islamic Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Similar to the Standard Account; no swap fees.
• Leverage Options: Up to 1:500.
• Key Features: Complies with Sharia law; no interest on overnight positions.
• Target User Profile: Muslim traders.
• Trading Instruments Available: Forex, commodities.

5. Demo Account

• Minimum Deposit Requirement: Virtual balance (typically $10,000).
• Spread/Commission Structure: Same as the Standard Account.
• Leverage Options: Same as the Standard Account.
• Key Features: Risk-free trading environment; practice trading strategies.
• Target User Profile: Beginners and traders testing new strategies.
• Trading Instruments Available: Same as the Standard Account.

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Part 2: bmd Account Features Comparison

Detailed bmd Account Features

Advantages of Each Account Type

• Standard Account:

• User-friendly for beginners.

• No commission fees.

• Wide range of trading instruments.

• ECN Account:

• Tight spreads and low latency.

• Ideal for scalping strategies.

• Direct access to the interbank market.

• Pro Account:

• Enhanced trading conditions.

• Lower commission costs.

• Suitable for high-volume traders.

• Islamic Account:

• Complies with Islamic finance principles.

• No interest charges on overnight positions.

• Demo Account:

• Risk-free trading environment.

• Ideal for practice and strategy testing.

• Access to all trading features.

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN accounts.

• Limited advanced features.

• ECN Account:

• Requires a higher minimum deposit.

• Commission fees may increase trading costs.

• Pro Account:

• Higher minimum deposit requirement.

• Not suitable for casual traders.

• Islamic Account:

• Limited availability of advanced trading features.

• Demo Account:

• No real profits; virtual trading only.

• Limited duration for practice.

Part 3: bmd Account Registration Requirements

bmd Account Registration Requirements

• Eligibility Criteria:

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

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

• Prohibited Countries: Countries under sanctions or restrictions may not be eligible.

• Identity Verification Documents Needed:

• Government-issued ID (passport or national ID).

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

• Additional Documentation for Professional Accounts:

• Proof of income or financial status may be required.

• KYC/AML Compliance Procedures:

• Complete identity verification process.

• Submit required documents for review.

• Verification Time Frames:

• Typically takes 1-3 business days for account verification.

Part 4: bmd Account Opening Process

Step-by-Step bmd Account Opening Guide

1. Visit Website and Click Registration: Go to the official BMD website.
2. Personal Information Entry: Fill in your personal details, including name, email, and phone number.
3. Choose Account Type: Select the account type that suits your trading needs.
4. Set Trading Preferences: Specify your trading preferences and leverage options.
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 start trading.
8. Start Trading: Access your account and begin trading.

Desktop vs Mobile Registration Differences

• Desktop Registration: Typically offers a more comprehensive view of account options and features.
• Mobile Registration: May have simplified forms; ensure a stable internet connection.

Common Registration Issues and Solutions

• Issue: Document upload failure.

• Solution: Ensure documents are clear and in the correct format (PDF, JPG).

• Issue: Verification delays.

• Solution: Contact customer support for assistance.

Average Account Approval Time

• Typically ranges from 1 to 3 business days, depending on the completeness of submitted documents.

How to Upgrade/Downgrade Account Types

• Log into your account and navigate to the account settings.
• Select the option to upgrade or downgrade your account type and follow the prompts.

Part 5: bmd Demo Account Guide

bmd Demo Account Features and Benefits

• Features: Access to all trading instruments with a virtual balance.
• Benefits: Risk-free environment to practice trading strategies.

How to Open a Demo Account

• Follow the same registration process as for a live account but select the demo account option.

Demo Account Limitations

• Limited duration; typically expires after 30 days.
• No real profits can be withdrawn.

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.
• Trading conditions may differ slightly in terms of execution speed and spreads.

Duration/Expiry of Demo Accounts

• Demo accounts typically expire after 30 days of inactivity.

Part 6: bmd Islamic Account Details

bmd Islamic Account Availability

• Swap-Free/Islamic Account Availability: Yes, available for Muslim traders.

Eligibility Requirements

• Must provide documentation confirming adherence to Islamic finance principles.

Differences from Standard Accounts

• No interest charges on overnight positions.
• Similar trading conditions to the Standard Account.

How to Apply for Islamic Account

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

Restrictions or Special Conditions

• Must comply with Islamic finance regulations; no trading in prohibited instruments.

FAQs – bmd Account Types & Opening

1. What account types does bmd offer？

• BMD 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 balance.

1. How long does bmd account verification take？

• Typically 1-3 business days.

1. Does bmd offer demo accounts？

• Yes, BMD provides demo accounts for practice.

1. Can I have multiple account types with bmd？

• Yes, you can open multiple accounts.

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

• Yes, Islamic accounts are available.

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

• Government-issued ID and proof of residence.

1. Can I change my account type after registration？

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