Compass broker Accounts

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

Part 1: compass Account Types Explained

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: Suitable for beginners; access to various trading instruments; user-friendly platform
• Target User Profile: Beginner traders
• Trading Instruments Available: Forex, commodities, indices

1. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Raw spreads starting from 0.0 pips; commission of $3 per lot
• Leverage Options: Up to 1:200
• Key Features: Direct market access; lower spreads; ideal for scalpers and high-frequency traders
• Target User Profile: Advanced traders
• Trading Instruments Available: Forex, commodities, indices

1. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Spreads from 0.5 pips; commission of $2 per lot
• Leverage Options: Up to 1:300
• Key Features: Enhanced trading conditions; priority execution; suitable for professional traders
• Target User Profile: Professional traders
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

1. Islamic Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Similar to Standard Account; no swap fees
• Leverage Options: Up to 1:500
• Key Features: Compliant with Sharia law; no interest charges; suitable for Muslim traders
• Target User Profile: Muslim traders
• Trading Instruments Available: Forex, commodities, indices

1. Demo Account

• Minimum Deposit Requirement: Virtual funds provided (typically $10,000)
• Spread/Commission Structure: Same as Standard Account
• Leverage Options: Up to 1:500
• Key Features: Risk-free trading environment; practice trading strategies; access to all instruments
• Target User Profile: All trader levels
• 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: compass Account Features Comparison

Detailed compass Account Features

Advantages of Each Account Type

• Standard Account:
• Low minimum deposit
• No commission fees
• User-friendly for beginners
• ECN Account:
• Direct market access
• Lower spreads
• Suitable for scalping
• Pro Account:
• Enhanced trading conditions
• Lower commission fees
• Priority execution
• Islamic Account:
• No interest charges
• Compliant with Sharia law
• Flexible trading options
• Demo Account:
• Risk-free trading
• Access to all instruments
• Ideal for practice and strategy testing

Disadvantages of Each Account Type

• Standard Account:
• Higher spreads compared to ECN
• Limited features for advanced traders
• ECN Account:
• Higher minimum deposit
• Commission fees apply
• Pro Account:
• High minimum deposit
• Commission fees apply
• Islamic Account:
• Limited to Muslim traders
• Similar spreads to Standard
• Demo Account:
• Virtual funds only
• Limited to practice trading

Part 3: compass Account Registration Requirements

Eligibility Criteria

• Age Requirements: Minimum age of 18 years
• Geographic Restrictions: Available in most countries; specific restrictions may apply
• Prohibited Countries: Countries under international sanctions may be restricted
• Identity Verification Documents Needed:
• Government-issued ID (passport, drivers license)
• Proof of address (utility bill, bank statement)
• Proof of Residence Requirements: Recent documents showing name and address
• Additional Documentation for Professional Accounts: Financial statements may be required

KYC/AML Compliance Procedures

• All applicants 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: compass Account Opening Process

Step-by-Step compass Account Opening Guide

1. Visit Website: Go to the official compass trading website.
2. Click Registration: Find and click the "Register" or "Open an Account" button.
3. Personal Information Entry: Fill in personal details such as name, email, and phone number.
4. Choose Account Type: Select the desired account type from the available options.
5. Set Trading Preferences: Indicate trading preferences and risk tolerance.
6. Document Upload: Upload required identity verification documents.
7. Account Verification: Wait for the verification process to complete.
8. Fund Your Account: Deposit funds into your new account 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 desktop and mobile platforms, but mobile may have additional prompts for app permissions.

Common Registration Issues and Solutions

• Issue: Document upload failure
• Solution: Ensure documents are clear and in the correct format (JPEG, PDF).
• Issue: Verification delays
• Solution: Contact customer support for assistance.

Average Account Approval Time

• Most accounts are approved within 1-3 business days, depending on document verification.

How to Upgrade/Downgrade Account Types

• Log into your account, navigate to account settings, and follow prompts to request an upgrade or downgrade.

Part 5: compass Demo Account Information

Demo Account Features and Benefits

• Provides a risk-free environment to practice trading strategies.
• Access to all trading instruments available in live accounts.
• Ideal for beginners to familiarize themselves with trading platforms.

How to Open a Demo Account

• Visit the compass website and select the option to open a demo account.
• Fill in the required information and set up your demo account.

Demo Account Limitations

• Limited to virtual funds; cannot be used for real trading.
• May have a time limit for usage (e.g., 30 days).

Virtual Balance Amount

• Typically, demo accounts come with a virtual balance of $10,000.

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 usually expire after 30 days of inactivity, but this can vary by provider.

Part 6: compass Islamic Account Details

Swap-Free/Islamic Account Availability

• Islamic accounts are available and comply with Sharia law, meaning no interest is charged.

Eligibility Requirements

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

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, making them suitable for long-term positions.

How to Apply for Islamic Account

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

Restrictions or Special Conditions

• Islamic accounts may have similar trading conditions to standard accounts but without swap fees.

FAQs – compass Account Types & Opening

1. What account types does compass offer？

• 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 compass account verification take？

• Typically 1-3 business days.

1. Does compass offer demo accounts？

• Yes, compass offers demo accounts for practice trading.

1. Can I have multiple account types with compass？

• Yes, you can open multiple account types.

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

• Yes, compass offers Islamic accounts that comply with Sharia law.

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

• Government-issued ID and proof of address.

1. Can I change my account type after registration？

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