E.ON broker Accounts

e on Account Types Overview

e on Account Types Explained

E.ON offers a variety of account types tailored to different trading needs and preferences. Below is a detailed overview of the 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: Ideal for beginners, access to a wide range of trading instruments, user-friendly interface.
• Target User Profile: Beginners and casual traders.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

2. 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, suitable for high-frequency trading.
• Target User Profile: Advanced traders and scalpers.
• Trading Instruments Available: Forex, commodities, indices.

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Variable spreads starting from 0.5 pips; commission of $2 per lot.
• Leverage Options: Up to 1:100.
• Key Features: Enhanced trading conditions, priority customer support, and advanced trading tools.
• Target User Profile: Professional traders and institutions.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

4. Islamic Account

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

5. Demo Account

• Minimum Deposit Requirement: Virtual balance (typically $10,000).
• Spread/Commission Structure: Similar to Standard Account.
• Leverage Options: Up to 1:500.
• Key Features: Risk-free trading environment, practice strategies without financial risk.
• Target User Profile: Beginners and those testing new strategies.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

Account Type Comparison Table

Recommended Account Types by Trader Level

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

e on Account Features Comparison

Detailed e on Account Features

When considering which e on account type to choose, it is essential to compare the features across different accounts:

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $100

• Demo: Virtual balance

• Maximum Leverage:

• Standard: Up to 1:500

• ECN: Up to 1:200

• Pro: Up to 1:100

• Islamic: Up to 1:500

• Spreads (Typical/Minimum):

• Standard: From 1.0 pips

• ECN: From 0.0 pips

• Pro: From 0.5 pips

• Islamic: Similar to Standard

• Commission Fees:

• Standard: None

• ECN: $3 per lot

• Pro: $2 per lot

• Islamic: None

• Lot Size:

• Standard: Micro, Mini, Standard

• ECN: Micro, Mini, Standard

• Pro: Standard

• Islamic: Micro, Mini, Standard

• Available Trading Platforms:

• Standard: MT4, MT5

• ECN: MT4, MT5

• Pro: MT4, MT5

• Islamic: MT4, MT5

• Execution Type:

• Standard: Market

• ECN: ECN

• Pro: Instant

• Islamic: Market

• Islamic Account Availability:

• Standard: Yes

• ECN: Yes

• Pro: Yes

• Islamic: Yes

• Swap-Free Options:

• All account types offer swap-free options for Islamic accounts.

• Demo Account Features:

• All account types have demo accounts available for practice.

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit

• User-friendly interface

• Access to various trading instruments

• No commission fees

• ECN Account:

• Tight spreads

• Direct market access

• Ideal for scalping

• Transparency in pricing

• Pro Account:

• Enhanced trading conditions

• Lower commission fees

• Priority support

• Suitable for professional trading

• Islamic Account:

• Complies with Sharia law

• No swap fees

• Suitable for Muslim traders

• Demo Account:

• Risk-free trading

• Practice strategies

• Access to all trading instruments

• No financial risk

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN

• Limited advanced trading features

• ECN Account:

• Higher minimum deposit

• Commission fees apply

• Pro Account:

• High minimum deposit

• Commission fees apply

• Islamic Account:

• Limited availability of advanced trading features

• Demo Account:

• No real financial gain

• Limited duration of use

e on Account Opening Requirements

e on Account Registration Requirements

To open an e on account, the following eligibility criteria and documentation are required:

• Eligibility Criteria:

• Age Requirements: Must be at least 18 years old.

• Geographic Restrictions: Available in most countries; check specific regulations for your region.

• Prohibited Countries: Certain jurisdictions may be restricted based on local laws.

• Identity Verification Documents Needed:

• Government-issued ID (passport or national ID).

• Proof of residence (utility bill or bank statement).

• Additional Documentation for Professional Accounts:

• Proof of trading experience or financial status may be required.

• KYC/AML Compliance Procedures:

• Complete Know Your Customer (KYC) verification.

• Anti-Money Laundering (AML) checks are conducted.

• Verification Time Frames:

• Typically takes 1-3 business days for account verification.

e on Account Opening Process

Step-by-Step e on Account Opening Guide

To register for an e on account, follow these steps:

1. Visit Website and Click Registration: Go to the e on website and find the registration option.
2. Personal Information Entry: Fill in your personal details such as name, email, and phone number.
3. Choose Account Type: Select the type of account you wish to open (Standard, ECN, Pro, Islamic, or Demo).
4. Set Trading Preferences: Indicate your trading preferences and risk appetite.
5. Document Upload: Upload required documents for identity verification.
6. Account Verification: Wait for the account to be verified by the e on team.
7. Fund Your Account: Once verified, deposit funds into your account to start trading.
8. Start Trading: Access the trading platform and begin trading.

• Desktop vs Mobile Registration Differences: The registration process is similar on both platforms, but mobile users may have a more streamlined interface.
• Common Registration Issues and Solutions: Ensure all documents are clear and legible; contact support for any issues.
• Average Account Approval Time: Typically 1-3 business days.
• How to Upgrade/Downgrade Account Types: Contact customer support to request changes to your account type.

e on Demo Account Information

e on Demo Account Guide

• Demo Account Features and Benefits:

• Allows risk-free trading with virtual funds.

• Access to all trading instruments offered by e on.

• How to Open a Demo Account:

• Visit the e on website and select the demo account option.

• Fill in the required information and create your demo account.

• Demo Account Limitations:

• Limited to a virtual balance (usually $10,000).

• May have a time limit for use.

• Virtual Balance Amount: Typically $10,000 for practice trading.

• Demo vs Live Account Differences:

• Demo accounts use virtual funds; live accounts use real money.

• Trading conditions may vary slightly between demo and live accounts.

• Duration/Expiry of Demo Accounts: Demo accounts usually expire after 30 days but can be extended upon request.

e on Islamic Account Details

e on Islamic Account Details

• Swap-Free/Islamic Account Availability: E.ON offers Islamic accounts that comply with Sharia law.
• Eligibility Requirements: Must provide documentation confirming the need for a swap-free account.
• Differences from Standard Accounts: Islamic accounts do not incur swap fees and follow specific trading conditions.
• How to Apply for Islamic Account: Select the Islamic account option during the registration process and provide necessary documentation.
• Restrictions or Special Conditions: Must adhere to Islamic finance principles, such as no interest-bearing transactions.

FAQs – e on Account Types & Opening

1. What account types does e on offer？

• E.ON 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 balance.

1. How long does e on account verification take？

• Typically takes 1-3 business days.

1. Does e on offer demo accounts？

• Yes, e on provides demo accounts for practice trading.

1. Can I have multiple account types with e on？

• Yes, you can open multiple account types.

1. Does e on offer Islamic/swap-free accounts？

• Yes, Islamic accounts are available.

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

• Government-issued ID and proof of residence.

1. Can I change my account type after registration？

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