| Account Type | Minimum Deposit | Maximum Leverage | Spread Type | Commission | Target User Profile |
|---|---|---|---|---|---|
| Standard | $500 | 1:100 | Variable | Yes | Beginner to Intermediate |
| ECN | $1,000 | 1:200 | Low | Yes | Advanced Traders |
| Pro | $5,000 | 1:300 | Tight | Lower | Professional Traders |
| Islamic | $500 | 1:100 | Variable | No | Muslim Traders |
| Demo | Virtual Funds | Same as Live | Simulated | None | Beginners |
Minimum Deposit:
Standard: $500
ECN: $1,000
Pro: $5,000
Islamic: $500
Demo: Virtual funds
Maximum Leverage:
Standard: 1:100
ECN: 1:200
Pro: 1:300
Islamic: 1:100
Spreads (Typical/Minimum):
Standard: Variable
ECN: Low
Pro: Tight
Islamic: Variable
Commission Fees:
Standard: Yes
ECN: Yes
Pro: Lower
Islamic: No
Lot Size:
Standard: Standard lots
ECN: Micro and standard lots
Pro: Standard lots
Islamic: Standard lots
Available Trading Platforms:
Standard: MT4, MT5
ECN: Proprietary platforms, MT4
Pro: Proprietary platforms
Islamic: MT4, MT5
Execution Type:
Standard: Market
ECN: ECN
Pro: Market
Islamic: Market
Islamic Account Availability:
Standard: Yes
ECN: Yes
Pro: Yes
Islamic: N/A
Swap-Free Options:
Standard: Yes
ECN: Yes
Pro: Yes
Islamic: N/A
Demo Account Features:
Available for all account types, typically with a virtual balance of $10,000 to $100,000.
Standard Account:
Easy to open and manage.
Access to educational resources.
Suitable for beginners.
ECN Account:
Direct market access and faster execution.
Lower spreads for high-frequency trading.
Ideal for scalpers.
Pro Account:
Enhanced trading conditions.
Dedicated support and advanced tools.
Suitable for institutional traders.
Islamic Account:
Complies with Sharia law.
No interest charges.
Suitable for Muslim traders.
Demo Account:
Risk-free trading environment.
Practice strategies without financial risk.
Full access to trading tools.
Standard Account:
Higher spreads compared to ECN.
May have commissions that add up.
ECN Account:
Requires a higher minimum deposit.
Commissions can add to trading costs.
Pro Account:
High minimum deposit requirement.
Not suitable for casual traders.
Islamic Account:
Limited availability in some regions.
May have fewer features compared to other accounts.
Demo Account:
Virtual trading may not reflect real market conditions.
Limited duration for practice.
Eligibility Criteria:
Age Requirements: Must be at least 18 years old.
Geographic Restrictions: Varies by broker; check specific broker policies.
Prohibited Countries: Typically includes countries under sanctions or with strict trading regulations.
Identity Verification Documents Needed:
Government-issued ID (passport, national ID).
Proof of residence (utility bill, bank statement).
Additional Documentation for Professional Accounts:
Financial statements.
Proof of trading experience.
KYC/AML Compliance Procedures:
Completion of KYC forms.
Submission of identification and proof of residence.
Verification Time Frames:
Typically ranges from a few hours to several days, depending on the broker's processing speed.
Issue: Document upload fails.
Solution: Ensure documents are clear and in the correct format (JPEG, PNG).
Issue: Verification takes too long.
Solution: Contact customer support for updates.
Demo Account Features and Benefits:
Allows traders to practice without financial risk.
Access to all trading tools and features available in live accounts.
How to Open a Demo Account:
Visit the broker's website and select the demo account option.
Fill in the required information and create an account.
Demo Account Limitations:
Typically limited in duration (e.g., 30 days).
May not reflect real-time market conditions.
Virtual Balance Amount:
Usually ranges from $10,000 to $100,000.
Demo vs Live Account Differences:
Demo accounts use virtual funds; live accounts involve real money.
Execution and market conditions may differ.
Duration/Expiry of Demo Accounts:
Demo accounts often expire after a set period, typically 30 days.
Swap-Free/Islamic Account Availability:
Available for all major account types (Standard, ECN, Pro).
Eligibility Requirements:
Must be a practicing Muslim.
May require additional documentation to verify compliance.
Differences from Standard Accounts:
No swap fees applied.
May have different trading conditions.
How to Apply for Islamic Account:
Select the Islamic account option during registration or contact customer support.
Restrictions or Special Conditions:
Must adhere to Sharia law principles in trading practices.
Explore broker markets account types: forex/trading accounts with demo access.