EXL broker Accounts

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

Part 1: exl Account Types Overview

exl Account Types Explained

EXL offers a variety of account types tailored to different trading needs and profiles. Below is a detailed overview of each account type available:

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.0 pips; no commission.
• Leverage Options: Up to 1:500.
• Key Features: Suitable for beginners; access to all trading instruments.
• Target User Profile: Beginners.
• 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; ideal for high-frequency traders.
• Target User Profile: Advanced traders.
• 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 1:300.
• Key Features: Enhanced trading conditions; suitable for professional traders.
• Target User Profile: Institutional and professional traders.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

4. Islamic Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Similar to Standard or ECN accounts, but swap-free.
• Leverage Options: Up to 1:200.
• Key Features: Complies with Sharia law; no overnight interest.
• Target User Profile: Muslim traders.
• Trading Instruments Available: Forex, commodities, indices.

5. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds).
• Spread/Commission Structure: Same as the Standard account.
• Leverage Options: Up to 1:500.
• Key Features: Practice trading without risk; access to all features of live accounts.
• Target User Profile: Beginners and those looking to test strategies.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginner: Standard Account
• Intermediate: ECN Account
• Advanced: Pro Account
• Muslim Traders: Islamic Account
• Practice: Demo Account

Part 2: exl Account Features Comparison

Detailed exl Account Features

When comparing the features across different account types, the following aspects are essential:

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $500

• Demo: N/A

• Maximum Leverage:

• Standard: Up to 1:500

• ECN: Up to 1:200

• Pro: Up to 1:300

• Islamic: Up to 1:200

• Demo: 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

• Demo: Same as Standard

• Commission Fees:

• Standard: None

• ECN: $3 per lot

• Pro: $2 per lot

• Islamic: None

• Demo: N/A

• Lot Size:

• Standard: Micro, Mini, Standard

• ECN: Micro, Mini, Standard

• Pro: 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: No

• ECN: No

• Pro: No

• Islamic: Yes

• Demo: No

• Swap-free Options:

• Standard: No

• ECN: No

• Pro: No

• Islamic: Yes

• Demo: No

• Demo Account Features:

• Virtual balance for practice; access to all trading instruments; no risk involved.

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit.

• No commission fees.

• Ideal for beginners.

• ECN Account:

• Tight spreads.

• Direct market access.

• Suitable for high-frequency trading.

• Pro Account:

• Professional trading conditions.

• Lower commission fees.

• Enhanced trading tools.

• Islamic Account:

• Complies with Sharia law.

• No overnight interest.

• Suitable for Muslim traders.

• Demo Account:

• Risk-free trading environment.

• Practice strategies without financial commitment.

• Full access to trading features.

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:

• Higher minimum deposit.

• Commission fees apply.

• Islamic Account:

• Limited to Muslim traders.

• Higher minimum deposit than Standard.

• Demo Account:

• Virtual funds only; no real profits.

• Limited duration for practice.

Part 3: exl Account Opening Requirements

exl Account Registration Requirements

To open an account with EXL, the following eligibility criteria must be met:

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents of most countries; specific restrictions may apply.
• Prohibited Countries: Not available in certain jurisdictions (specific countries not listed).
• Identity Verification Documents Needed:
• Valid government-issued ID (passport or driver's license).
• Proof of address (utility bill or bank statement).
• Proof of Residence Requirements: Recent documents showing your name and address.
• Additional Documentation for Professional Accounts: May require financial statements or proof of trading experience.

KYC/AML Compliance Procedures

EXL adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring all clients to complete identity verification before trading.

Verification Time Frames

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

Part 4: exl Account Opening Process

Step-by-Step exl Account Opening Guide

1. Visit Website and Click Registration: Go to the EXL website and select the "Open Account" option.
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 funds into your account using one of the available payment methods.
8. Start Trading: Once your account is funded, you can begin trading.

Desktop vs Mobile Registration Differences

The registration process is similar on both desktop and mobile platforms, with slight variations in interface design.

Common Registration Issues and Solutions

• Issue: Document upload fails.
• Solution: Ensure documents are in the correct format and within size limits.
• Issue: Verification delays.
• Solution: Contact customer support for assistance.

Average Account Approval Time

Typically, account approval takes 1-3 business days, depending on document verification.

How to Upgrade/Downgrade Account Types

To change your account type, contact EXL customer support for guidance on the process.

Part 5: exl Demo Account Information

exl Demo Account Guide

• Demo Account Features and Benefits:

• Access to all trading instruments.

• Practice with virtual funds.

• Test trading strategies without risk.

• How to Open a Demo Account:

• Follow the same registration process as for live accounts but select "Demo Account."

• Demo Account Limitations:

• Virtual funds only; cannot withdraw profits.

• Limited duration for practice (usually 30 days).

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

• Demo vs Live Account Differences:

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

• Market conditions may differ slightly due to liquidity and execution.

• Duration/Expiry of Demo Accounts: Demo accounts usually expire after 30 days of inactivity.

Part 6: exl Islamic Account Details

exl Islamic Account Details

• Swap-free/Islamic Account Availability: Yes, EXL offers Islamic accounts compliant with Sharia law.
• Eligibility Requirements: Must be a Muslim trader.
• Differences from Standard Accounts: No overnight interest; similar trading conditions to Standard accounts.
• How to Apply for Islamic Account: Select the Islamic account option during registration or contact customer support.
• Restrictions or Special Conditions: Must provide proof of eligibility as a Muslim trader.

FAQs – exl Account Types & Opening

1. What account types does exl offer？

• EXL 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: $500, Demo: N/A.

1. How long does exl account verification take？

• Account verification typically takes 1-3 business days.

1. Does exl offer demo accounts？

• Yes, EXL offers demo accounts for practice trading.

1. Can I have multiple account types with exl？

• Yes, you can open multiple account types with EXL.

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

• Yes, EXL offers Islamic accounts that are swap-free.

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

• A valid ID and proof of residence are required.

1. Can I change my account type after registration？

• Yes, you can change your account type by contacting customer support.