Double M broker Accounts

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

double m Account Types Explained

Double M offers several account types tailored to meet the diverse needs of traders. Below is a detailed overview of each account type available:

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.5 pips, no commission.
• Leverage Options: Up to 1:500.
• Key Features: Suitable for beginners, access to educational resources.
• Target User Profile: Beginner traders.
• Trading Instruments Available: Forex, commodities, indices.

2. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Raw spreads starting from 0.0 pips, $7 per round turn commission.
• Leverage Options: Up to 1:200.
• Key Features: Direct market access, faster execution speeds.
• Target User Profile: Intermediate to advanced traders.
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies.

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Spreads starting from 1.0 pip, $5 per round turn commission.
• Leverage Options: Up to 1:400.
• Key Features: Enhanced trading conditions, priority customer support.
• Target User Profile: Professional traders and institutions.
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies.

4. Islamic Account

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

5. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds).
• Spread/Commission Structure: Similar to Standard account conditions.
• Leverage Options: Up to 1:500.
• Key Features: Practice trading without risk, access to all trading instruments.
• Target User Profile: All traders, especially beginners.
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies.

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Detailed double m Account Features

Comparison of Features Across Different Account Types

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $100

• Demo: N/A

• Maximum Leverage:

• Standard: 1:500

• ECN: 1:200

• Pro: 1:400

• Islamic: 1:500

• Demo: 1:500

• Spreads (Typical/Minimum):

• Standard: From 1.5 pips

• ECN: From 0.0 pips

• Pro: From 1.0 pip

• Islamic: Similar to Standard

• Demo: Similar to Standard

• Commission Fees:

• Standard: None

• ECN: $7 per round turn

• Pro: $5 per round turn

• Islamic: None

• Demo: N/A

• 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 for practice, access to all instruments, no time limit on usage.

Advantages and Disadvantages of Each Account Type

Standard Account

• Advantages:
• Low minimum deposit.
• No commission fees.
• Beginner-friendly resources.
• Disadvantages:
• Higher spreads compared to ECN.

ECN Account

• Advantages:
• Tight spreads.
• Direct market access.
• Suitable for high-frequency trading.
• Disadvantages:
• Higher minimum deposit.
• Commission fees apply.

Pro Account

• Advantages:
• Enhanced trading conditions.
• Lower commission fees.
• Priority customer support.
• Disadvantages:
• High minimum deposit.

Islamic Account

• Advantages:
• Compliant with Islamic finance principles.
• No interest fees.
• Disadvantages:
• Limited to specific trading conditions.

Demo Account

• Advantages:
• Risk-free trading environment.
• Full access to trading features.
• Disadvantages:
• Virtual funds only, no real profits.

double m Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to traders worldwide, with some exceptions based on local regulations.
• Prohibited Countries: Specific countries may be restricted due to regulatory compliance (details not specified).
• Identity Verification Documents Needed: Government-issued ID (passport or national ID).
• Proof of Residence Requirements: Utility bill or bank statement showing the current address.
• Additional Documentation for Professional Accounts: Proof of trading experience or financial status may be required.

KYC/AML Compliance Procedures

Double M adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring all users to verify their identity and residence before trading.

Verification Time Frames

Account verification typically takes up to 24-48 hours, depending on the completeness of the submitted documents.

Step-by-Step double m Account Opening Guide

Registration Process

1. Visit Website and Click Registration: Go to the Double M homepage and click on the "Register" button.
2. Personal Information Entry: Fill in your personal details, including name, email, and phone number.
3. Choose Account Type: Select the desired account type (Standard, ECN, Pro, Islamic, or Demo).
4. Set Trading Preferences: Specify your trading preferences, including leverage and trading instruments.
5. Document Upload: Upload the required identity verification documents.
6. Account Verification: Wait for the verification process to complete.
7. Fund Your Account: Deposit the minimum required amount to activate your account.
8. Start Trading: Once your account is funded, you can start trading.

Desktop vs Mobile Registration Differences

The registration process is similar on both desktop and mobile platforms, with slight variations in the layout and navigation.

Common Registration Issues and Solutions

• Issue: Document upload errors.
• 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

Typically, account approval takes between 24 to 48 hours, depending on the verification process.

How to Upgrade/Downgrade Account Types

To change your account type, contact customer support to request an upgrade or downgrade, and provide any necessary documentation.

double m Demo Account Guide

Demo Account Features and Benefits

The demo account allows traders to practice trading strategies without financial risk, using virtual funds.

How to Open a Demo Account

To open a demo account, select the demo option during the registration process and follow the prompts.

Demo Account Limitations

Demo accounts may have limitations on the duration of use or the amount of virtual funds available.

Virtual Balance Amount

Typically, demo accounts come with a virtual balance of $100,000 for practice.

Demo vs Live Account Differences

Demo accounts simulate live trading conditions but do not involve real money transactions.

Duration/Expiry of Demo Accounts

Demo accounts usually remain active for a specified period, often 30 days, after which they may expire unless extended.

double m Islamic Account Details

Swap-Free/Islamic Account Availability

Double M offers Islamic accounts that comply with Sharia law, ensuring no interest is charged.

Eligibility Requirements

To qualify for an Islamic account, traders must provide documentation confirming their adherence to Islamic finance principles.

Differences from Standard Accounts

Islamic accounts do not incur swap fees, making them suitable for Muslim traders.

How to Apply for Islamic Account

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

Restrictions or Special Conditions

Islamic accounts may have specific trading conditions, such as limits on certain trading strategies.

FAQs – double m Account Types & Opening

1. What account types does double m offer？

• Double M 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: N/A.

1. How long does double m account verification take？

• Verification typically takes 24-48 hours.

1. Does double m offer demo accounts？

• Yes, Double M offers demo accounts for practice trading.

1. Can I have multiple account types with double m？

• Yes, traders can open multiple account types.

1. Does double m offer Islamic/swap-free accounts？

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

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

• A 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.