EGB broker Accounts

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

egb Account Types Explained

EG Bank offers a variety of account types tailored to different trading needs and preferences. Below is a comprehensive overview of the available account types, including their features, minimum deposit requirements, and target user profiles.

1. Standard Account

• Minimum Deposit Requirement: EGP 1,000
• Spread/Commission Structure: Variable spreads starting from 3 pips
• Leverage Options: Up to 1:200
• Key Features:
• Access to a wide range of trading instruments
• Basic trading tools and resources
• Target User Profile: Beginners and casual traders
• Trading Instruments Available: Forex, commodities, indices

2. ECN Account

• Minimum Deposit Requirement: EGP 5,000
• Spread/Commission Structure: Low spreads starting from 0.1 pips + commission
• Leverage Options: Up to 1:100
• Key Features:
• Direct market access
• Faster execution speeds
• Target User Profile: Experienced traders and scalpers
• Trading Instruments Available: Forex, commodities, cryptocurrencies

3. Pro Account

• Minimum Deposit Requirement: EGP 10,000
• Spread/Commission Structure: Fixed spreads starting from 1 pip + lower commission
• Leverage Options: Up to 1:500
• Key Features:
• Advanced trading tools
• Dedicated account manager
• Target User Profile: Professional traders and institutions
• Trading Instruments Available: Forex, commodities, indices, stocks

4. Islamic Account

• Minimum Deposit Requirement: EGP 1,000
• Spread/Commission Structure: Similar to Standard Account
• Leverage Options: Up to 1:200
• Key Features:
• Swap-free trading
• Compliance with Sharia law
• Target User Profile: Muslim traders
• Trading Instruments Available: Forex, commodities, indices

5. Demo Account

• Minimum Deposit Requirement: Virtual balance of EGP 100,000
• Spread/Commission Structure: Same as Standard Account
• Leverage Options: Up to 1:200
• Key Features:
• Practice trading without risk
• Access to all trading instruments
• Target User Profile: Beginners and those testing strategies
• 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 egb Account Features

Features Comparison Across Different Account Types

Advantages and Disadvantages of Each Account Type

Standard Account

• Advantages:
• Low minimum deposit
• No commission fees
• Suitable for beginners
• Disadvantages:
• Higher spreads
• Limited advanced features

ECN Account

• Advantages:
• Low spreads
• Direct market access
• Suitable for scalping
• Disadvantages:
• Higher minimum deposit
• Commission fees apply

Pro Account

• Advantages:
• High leverage
• Advanced trading tools
• Lower commission rates
• Disadvantages:
• High minimum deposit
• More complex for beginners

Islamic Account

• Advantages:
• Compliant with Sharia law
• No swap fees
• Disadvantages:
• Limited to Muslim traders
• Similar features to Standard Account

Demo Account

• Advantages:
• Risk-free trading
• Access to all trading instruments
• Disadvantages:
• Virtual funds only
• No real market experience

egb Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents of Egypt and select countries.
• Prohibited Countries: Specific countries may be restricted; check with egb for details.
• Identity Verification Documents Needed:
• Valid National ID or passport
• Proof of residence (utility bill, bank statement)
• Additional Documentation for Professional Accounts:
• Recent copy of commercial register and tax card for self-employed individuals.

KYC/AML Compliance Procedures

• egb adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring all clients to provide necessary documentation for verification.

Verification Time Frames

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

Step-by-Step egb Account Opening Guide

Registration Process

1. Visit the Website: Go to the egb official website.
2. Click Registration: Find and click on the registration button.
3. Personal Information Entry: Fill in your personal details (name, email, phone number).
4. Choose Account Type: Select the account type that best fits your trading needs.
5. Set Trading Preferences: Indicate your trading preferences and risk tolerance.
6. Document Upload: Upload the required identification and proof of residence documents.
7. Account Verification: Wait for the verification process to complete.
8. Fund Your Account: Deposit the minimum required amount to activate your account.
9. Start Trading: Access your trading platform and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, but mobile users may find a more streamlined interface.

Common Registration Issues and Solutions

• Issue: Documents not accepted.
• Solution: Ensure documents are clear and meet the specified requirements.
• Issue: Delays in verification.
• Solution: Contact customer support for assistance.

Average Account Approval Time

• Typically, account approval takes 1-3 business days.

How to Upgrade/Downgrade Account Types

• Contact customer support or access your account settings to request an upgrade or downgrade.

egb Demo Account Guide

Demo Account Features and Benefits

• Features: Access to all trading instruments, risk-free environment, and practice trading strategies.
• Benefits: Ideal for beginners to learn trading without financial risk.

How to Open a Demo Account

• Follow the same registration process as for a live account, selecting "Demo Account" during the account type selection.

Demo Account Limitations

• Virtual funds only; cannot be converted to real money.

Virtual Balance Amount

• Typically, demo accounts come with a virtual balance of EGP 100,000.

Demo vs Live Account Differences

• Demo accounts use virtual funds, while live accounts involve real money trading.

Duration/Expiry of Demo Accounts

• Demo accounts may expire after a certain period, usually 30 days, but can often be renewed.

egb Islamic Account Details

Swap-Free/Islamic Account Availability

• egb offers an Islamic account option that is compliant with Sharia law, allowing for swap-free trading.

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 trading.

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 specific trading conditions; consult egb for details.

FAQs – egb Account Types & Opening

1. What account types does egb offer？

• egb offers Standard, ECN, Pro, Islamic, and Demo accounts.

1. What is the minimum deposit for each account type？

• Standard: EGP 1,000; ECN: EGP 5,000; Pro: EGP 10,000; Islamic: EGP 1,000; Demo: EGP 100,000 (virtual).

1. How long does egb account verification take？

• Verification typically takes 1-3 business days.

1. Does egb offer demo accounts？

• Yes, egb provides demo accounts for practice trading.

1. Can I have multiple account types with egb？

• Yes, you can open multiple account types.

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

• Yes, egb offers Islamic accounts that are compliant with Sharia law.

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

• Valid National ID or passport, proof of residence, and additional documentation for professional accounts.

1. Can I change my account type after registration？

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