CHY broker Accounts

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

chy Account Types Explained

Available Account Types

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.0 pips
• Leverage Options: Up to 1:500
• Key Features: Basic trading tools, access to major currency pairs, and educational resources.
• Target User Profile: Beginners and casual traders.
• Trading Instruments Available: Forex, commodities, indices.

1. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Tight spreads from 0.0 pips with a commission of $3 per lot.
• Leverage Options: Up to 1:200
• Key Features: Direct market access, low latency execution, and no dealing desk intervention.
• Target User Profile: Experienced traders and scalpers.
• Trading Instruments Available: Forex, cryptocurrencies, commodities.

1. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Variable spreads starting from 0.5 pips with a commission of $2 per lot.
• Leverage Options: Up to 1:300
• Key Features: Advanced trading tools, priority customer support, and higher trading limits.
• Target User Profile: Professional traders and institutions.
• Trading Instruments Available: Forex, indices, commodities, and stocks.

1. Islamic Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Similar to Standard Account but swap-free.
• Leverage Options: Up to 1:500
• Key Features: Compliance with Sharia law, no swap fees.
• Target User Profile: Muslim traders seeking Sharia-compliant trading options.
• Trading Instruments Available: Forex, commodities.

1. Demo Account

• Minimum Deposit Requirement: Virtual funds (typically $10,000).
• Spread/Commission Structure: Same as Standard Account.
• Leverage Options: Up to 1:500
• Key Features: Risk-free trading environment, practice strategies, and familiarize with the trading platform.
• Target User Profile: Beginners and traders testing new strategies.
• Trading Instruments Available: All instruments available in live accounts.

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Detailed chy 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: 1.0 pips

• ECN: 0.0 pips

• Pro: 0.5 pips

• Islamic: 1.0 pips

• Demo: 1.0 pips

• Commission Fees:

• Standard: None

• ECN: $3/lot

• Pro: $2/lot

• Islamic: None

• Demo: None

• Lot Size:

• Standard: Micro, Mini, Standard

• ECN: Micro, Mini, Standard

• Pro: Micro, Mini, Standard

• Islamic: Micro, Mini, Standard

• Demo: 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

• 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 instruments, practice trading strategies.

Advantages and Disadvantages of Each Account Type

• Standard Account:

• Advantages: Low minimum deposit, educational resources.

• Disadvantages: Higher spreads, limited features.

• ECN Account:

• Advantages: Tight spreads, direct market access.

• Disadvantages: Higher minimum deposit, commission fees.

• Pro Account:

• Advantages: Advanced features, lower commissions.

• Disadvantages: Higher minimum deposit.

• Islamic Account:

• Advantages: Sharia compliance, no swap fees.

• Disadvantages: Limited to Islamic traders.

• Demo Account:

• Advantages: Risk-free trading, practice environment.

• Disadvantages: Virtual funds only, not for live trading.

chy Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents of the U.S. and select countries.
• Prohibited Countries: Specific countries may be restricted based on regulatory compliance.
• Identity Verification Documents Needed:
• Valid government-issued ID (e.g., passport, driver's license).
• Social Security number.
• Proof of Residence Requirements: Utility bill or bank statement with your name and address.
• Additional Documentation for Professional Accounts: May require financial statements or proof of trading experience.

KYC/AML Compliance Procedures

• All applicants must undergo Know Your Customer (KYC) and Anti-Money Laundering (AML) checks.
• Verification may include document uploads and identity checks.

Verification Time Frames

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

Step-by-Step chy Account Opening Guide

Registration Process

1. Visit Website: Go to the chy trading platform website.
2. Click Registration: Click on the "Sign Up" or "Register" button.
3. Personal Information Entry: Fill in required personal details such as name, email, and phone number.
4. Choose Account Type: Select the desired account type (Standard, ECN, Pro, Islamic, or Demo).
5. Set Trading Preferences: Specify trading preferences and leverage options.
6. Document Upload: Upload necessary identification and proof of residence documents.
7. Account Verification: Wait for the verification process to complete.
8. Fund Your Account: 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 platforms, but mobile registration may have app-specific features for ease of use.

Common Registration Issues and Solutions

• Issue: Document upload errors.
• Solution: Ensure documents are clear and meet size requirements.
• Issue: Verification delays.
• Solution: Contact customer support for assistance.

Average Account Approval Time

• Most accounts are approved within 1-3 business days.

How to Upgrade/Downgrade Account Types

• Users can request changes through customer support or their account management portal.

chy Demo Account Guide

Demo Account Features and Benefits

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

How to Open a Demo Account

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

Demo Account Limitations

• Limited to virtual funds and cannot be used for live trading.

Virtual Balance Amount

• Typically set at $10,000 for practice trading.

Demo vs Live Account Differences

• Demo accounts use virtual funds, while live accounts require real money deposits.

Duration/Expiry of Demo Accounts

• Demo accounts may remain active for a limited time, usually 30-90 days, depending on the broker's policy.

chy Islamic Account Details

Swap-Free/Islamic Account Availability

• Available for Standard, ECN, and Pro accounts.

Eligibility Requirements

• Must be a Muslim trader seeking compliance with Sharia law.

Differences from Standard Accounts

• No swap fees applied, ensuring compliance with Islamic finance principles.

How to Apply for Islamic Account

• Select the Islamic account option during the registration process.

Restrictions or Special Conditions

• Must adhere to the same trading conditions as standard accounts, minus swap fees.

FAQs – chy Account Types & Opening

1. What account types does chy offer？

• chy 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 chy account verification take？

• Verification typically takes 1-3 business days.

1. Does chy offer demo accounts？

• Yes, chy offers demo accounts for practice trading.

1. Can I have multiple account types with chy？

• No, you may only have one account type with chy.

1. Does chy 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 chy account？

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

1. Can I change my account type after registration？

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