Fairmount broker Accounts

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

Part 1: fairmount Account Types Explained

Available Account Types

Fairmount offers a variety of account types tailored to different trading needs and experience levels. Below are the key account types available:

1. Standard Account

• Minimum Deposit: $100
• Spread/Commission Structure: Variable spreads starting from 1.0 pips
• Leverage Options: Up to 1:500
• Key Features: Ideal for beginners, no commission fees on trades.
• Target User Profile: Beginner traders
• Trading Instruments Available: Forex, commodities, indices

1. ECN Account

• Minimum Deposit: $500
• Spread/Commission Structure: Raw spreads from 0.0 pips + $3 commission 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
• Trading Instruments Available: Forex, commodities, cryptocurrencies

1. Pro Account

• Minimum Deposit: $1,000
• Spread/Commission Structure: Competitive spreads from 0.5 pips + $2 commission per lot
• Leverage Options: Up to 1:100
• Key Features: Enhanced trading conditions, priority customer support.
• Target User Profile: Professional traders
• Trading Instruments Available: Forex, commodities, indices, stocks

1. Islamic Account

• Minimum Deposit: $100
• Spread/Commission Structure: Similar to Standard Account with no swap fees
• Leverage Options: Up to 1:500
• Key Features: Complies with Sharia law, no interest on overnight positions.
• Target User Profile: Muslim traders
• Trading Instruments Available: Forex, commodities, indices

1. Demo Account

• Minimum Deposit: Virtual funds (typically $10,000)
• Spread/Commission Structure: Same as Standard Account
• Leverage Options: Up to 1:500
• Key Features: Practice trading without risk, access to all trading instruments.
• Target User Profile: All levels
• Trading Instruments Available: Forex, commodities, indices

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Part 2: Detailed fairmount Account Features

Feature Comparison Across Account Types

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $100

• Demo: Virtual funds

• Maximum Leverage:

• Standard: Up to 1:500

• ECN: Up to 1:200

• Pro: Up to 1:100

• Islamic: Up to 1:500

• Demo: Up to 1:500

• Spreads (Typical/Minimum):

• Standard: From 1.0 pips

• ECN: From 0.0 pips

• Pro: From 0.5 pips

• Islamic: Same as Standard

• Demo: Same as Standard

• Commission Fees:

• Standard: None

• ECN: $3 per lot

• Pro: $2 per lot

• Islamic: None

• Demo: None

• 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:

• All accounts: MT4, MT5

• Execution Type:

• Standard: Market

• ECN: ECN

• Pro: Market

• Islamic: Market

• Demo: Market

• Islamic Account Availability:

• Available for Standard and Islamic accounts.

• Swap-Free Options:

• Available for Islamic accounts.

• Demo Account Features:

• Virtual trading environment, access to all instruments, no risk.

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit

• No commission fees

• User-friendly for beginners

• ECN Account:

• Tight spreads

• Direct market access

• Ideal for scalpers and high-frequency traders

• Pro Account:

• Enhanced trading conditions

• Lower commissions

• Priority support

• Islamic Account:

• Complies with Islamic finance principles

• No swap fees

• Flexible trading options

• Demo Account:

• Risk-free trading

• Practice with virtual funds

• Access to all trading features

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN

• Limited advanced features

• ECN Account:

• Higher minimum deposit

• Commission fees may reduce profitability

• Pro Account:

• Higher minimum deposit

• May not be suitable for beginners

• Islamic Account:

• Limited availability for non-Muslim traders

• May have restrictions on certain trading strategies

• Demo Account:

• No real profits

• Limited to a virtual environment

Part 3: fairmount Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents of most countries, but specific restrictions may apply.
• Prohibited Countries: Countries under international sanctions may be restricted.
• Identity Verification Documents Needed:
• Government-issued ID (passport or driver's license)
• Proof of residence (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

Fairmount adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring all clients to verify their identity and source of funds.

Verification Time Frames

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

Part 4: Step-by-Step fairmount Account Opening Guide

Registration Process

1. Visit Website and Click Registration: Navigate to the Fairmount website and click on the "Open an Account" button.
2. Personal Information Entry: Fill out the required personal information, including name, email, and phone number.
3. Choose Account Type: Select the desired account type based on your trading needs.
4. Set Trading Preferences: Specify your trading preferences, including leverage and trading instruments.
5. Document Upload: Upload the necessary identity verification documents.
6. Account Verification: Wait for the account to be verified by Fairmount's compliance team.
7. Fund Your Account: Deposit funds into your account using the available payment methods.
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, though the mobile interface may have a simplified layout.

Common Registration Issues and Solutions

• Issue: Document upload fails.

• Solution: Ensure documents are clear and in the required format (PDF, JPEG).

• Issue: Verification delays.

• Solution: Check email for any requests for additional information.

Average Account Approval Time

The average account approval time is 1-3 business days, depending on the completeness of the submitted documentation.

How to Upgrade/Downgrade Account Types

Account types can be changed by contacting customer support and submitting a request for the desired account type.

Part 5: fairmount Demo Account Guide

Demo Account Features and Benefits

• Features: Access to all trading instruments, virtual funds for practice, and real-time market conditions.
• Benefits: Allows traders to practice strategies without financial risk and familiarize themselves with the trading platform.

How to Open a Demo Account

To open a demo account, visit the Fairmount website, select "Open a Demo Account," and fill out the required information.

Demo Account Limitations

• Limited to virtual trading only; no real profits can be made.
• May have a time limit or expiry date.

Virtual Balance Amount

Typically, demo accounts are funded with a virtual balance of $10,000.

Demo vs Live Account Differences

• Demo Account: No financial risk, virtual funds, practice environment.
• Live Account: Real trading with actual funds, potential for profit or loss.

Duration/Expiry of Demo Accounts

Demo accounts may remain active for a limited time, usually 30-90 days, after which they may expire unless converted to a live account.

Part 6: fairmount Islamic Account Details

Swap-Free/Islamic Account Availability

Fairmount offers Islamic accounts that comply with Sharia law, ensuring no interest is charged on overnight positions.

Eligibility Requirements

To qualify for an Islamic account, clients must declare their need for a swap-free account due to religious beliefs.

Differences from Standard Accounts

Islamic accounts have no swap fees, but may have slightly different trading conditions or spreads.

How to Apply for Islamic Account

Clients can apply for an Islamic account during the registration process by selecting the Islamic account option.

Restrictions or Special Conditions

Islamic accounts may have restrictions on certain trading strategies that involve interest.

FAQs – fairmount Account Types & Opening

1. What account types does fairmount offer？

• Fairmount 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 funds.

1. How long does fairmount account verification take？

• Verification typically takes 1-3 business days.

1. Does fairmount offer demo accounts？

• Yes, Fairmount offers demo accounts for practice trading.

1. Can I have multiple account types with fairmount？

• Yes, clients can have multiple account types.

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

• Yes, Fairmount provides Islamic accounts that comply with Sharia law.

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

• A government-issued ID and proof of residence are required.

1. Can I change my account type after registration？

• Yes, account types can be changed by contacting customer support.