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Rating Index

Pros

High-quality technology and tools that streamline the real estate process and enhance agent efficiency.
Strong company culture with a collaborative environment and supportive management.
Good brand recognition, which can help attract clients and increase business opportunities.

Cons

Commission splits may be less favorable for newer agents or those not part of larger teams.
Some agents report high fees and additional costs for software and marketing tools.
Inconsistent training and support, with some feeling that the company is more focused on sales performance than on agent development.

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

Account Type Minimum Deposit Spread Commission Leverage Target User Instruments Available
Standard $100 From 1.0 pips None Up to 1:500 Beginners Forex, Commodities, Indices
ECN $500 From 0.0 pips $3/lot Up to 1:200 Advanced Forex, Commodities, Indices
Pro $1,000 From 0.5 pips $2/lot Up to 1:300 Professionals Forex, Commodities, Indices, Cryptos
Islamic $100 Same as Standard None Up to 1:500 Muslim Traders Forex, Commodities, Indices
Demo Virtual Funds Same as Standard None Up to 1:500 All Levels Forex, Commodities, Indices

  • 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

Feature Standard Account ECN Account Pro Account Islamic Account Demo Account
Minimum Deposit $100 $500 $1,000 $100 Virtual Funds
Maximum Leverage 1:500 1:200 1:300 1:500 1:500
Spreads (Typical/Minimum) 1.0 pips 0.0 pips 0.5 pips Same as Standard Same as Standard
Commission Fees None $3/lot $2/lot None None
Lot Size Standard Standard Standard Standard Virtual
Available Trading Platforms MT4, MT5 MT4, MT5 MT4, MT5 MT4, MT5 MT4, MT5
Execution Type Market ECN Market Market Market
Islamic Account Availability No No No Yes No
Swap-Free Options No No No Yes No
Demo Account Features No No No No Yes

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.

Compass accounts can be viewed for products that can be traded accounts with a minimum deposit of by (2+) .
Compass Account