Faxton broker Accounts

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

faxton Account Types Explained

Faxton offers a variety of account types tailored to meet the needs of different traders. 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: $100
• Spread/Commission Structure: Variable spreads starting from 1.5 pips
• Leverage Options: Up to 1:500
• Key Features: User-friendly interface, access to educational resources, and customer support.
• Target User Profile: Beginners and retail traders.
• Trading Instruments Available: Forex, commodities, and indices.

2. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Raw spreads from 0.0 pips + commission of $5 per lot
• Leverage Options: Up to 1:200
• Key Features: Direct market access, faster execution speeds, and lower spreads.
• Target User Profile: Experienced traders and scalpers.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Variable spreads starting from 1.0 pip
• Leverage Options: Up to 1:400
• Key Features: Advanced trading tools, dedicated account manager, and priority support.
• 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
• Leverage Options: Up to 1:500
• Key Features: Swap-free trading compliant with Islamic law.
• Target User Profile: Muslim traders seeking Sharia-compliant trading options.
• Trading Instruments Available: Forex, commodities, and indices.

5. Demo Account

• Minimum Deposit Requirement: Virtual balance of $10,000
• Spread/Commission Structure: Same as Standard Account
• Leverage Options: Up to 1:500
• Key Features: Risk-free environment to practice trading strategies.
• Target User Profile: Beginners and traders looking to test strategies.
• Trading Instruments Available: Same as Standard Account.

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Detailed faxton Account Features

Account Features Comparison

Advantages of Each Account Type

• Standard Account: Easy to use, suitable for beginners, and low minimum deposit.
• ECN Account: Tight spreads, direct market access, and ideal for scalping.
• Pro Account: Advanced tools, priority support, and suitable for high-volume trading.
• Islamic Account: Compliant with Islamic law, no swap fees.
• Demo Account: Risk-free trading environment, practice strategies without financial risk.

Disadvantages of Each Account Type

• Standard Account: Higher spreads compared to ECN.
• ECN Account: Requires a higher minimum deposit and commission fees.
• Pro Account: Higher minimum deposit requirement.
• Islamic Account: Limited to specific trading instruments.
• Demo Account: Virtual balance may not reflect real market conditions.

faxton Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents of most countries; check specific restrictions.
• Prohibited Countries: Countries under sanctions or with regulatory restrictions.
• Identity Verification Documents Needed: Valid government-issued ID (passport, drivers license).
• Proof of Residence Requirements: Utility bill or bank statement with your name and address.
• Additional Documentation for Professional Accounts: Proof of trading experience or financial standing may be required.

KYC/AML Compliance Procedures

• Faxton adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies. All documents must be verified before account approval.

Verification Time Frames

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

Step-by-Step faxton Account Opening Guide

Registration Process

1. Visit the Website: Go to the official Faxton website.
2. Click Registration: Locate and click on the registration button.
3. Personal Information Entry: Fill in your personal details including name, email, and phone number.
4. Choose Account Type: Select the account type that suits your trading needs.
5. Set Trading Preferences: Specify your trading preferences (leverage, account currency).
6. Document Upload: Upload the required identification and proof of residence documents.
7. Account Verification: Wait for the account to be verified by Faxton's compliance team.
8. Fund Your Account: Deposit funds into your account to start trading.
9. Start Trading: Once funded, you can begin trading on the platform.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile, but the mobile interface may have simplified steps for ease of use.

Common Registration Issues and Solutions

• Issue: Document upload fails.
• Solution: Ensure documents are clear and in the correct format (PDF, JPG).
• Issue: Verification delays.
• Solution: Contact customer support for assistance.

Average Account Approval Time

• The average time for account approval is between 1-3 business days.

How to Upgrade/Downgrade Account Types

• To change account types, log in to your account, navigate to account settings, and select the option to upgrade or downgrade. Follow the prompts and provide any additional documentation if required.

faxton Demo Account Guide

Demo Account Features and Benefits

• The demo account allows traders to practice without financial risk, providing a virtual balance to simulate real trading conditions.

How to Open a Demo Account

• Visit the Faxton website, select the demo account option, and complete the registration process similar to a live account.

Demo Account Limitations

• The demo account may have limitations on trading instruments and features compared to live accounts.

Virtual Balance Amount

• The demo account typically comes with a virtual balance of $10,000.

Demo vs Live Account Differences

• The demo account does not involve real money, while the live account requires actual funds and can incur real losses or gains.

Duration/Expiry of Demo Accounts

• Demo accounts usually remain active for a limited time, often 30 days, but can be extended upon request.

faxton Islamic Account Details

Swap-Free/Islamic Account Availability

• Faxton offers Islamic accounts that comply with Sharia law, allowing traders to engage in swap-free trading.

Eligibility Requirements

• Traders must declare their need for an Islamic account and provide relevant documentation.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees and may have specific trading conditions.

How to Apply for Islamic Account

• During the registration process, select the Islamic account option and provide necessary documentation.

Restrictions or Special Conditions

• Islamic accounts may have restrictions on certain trading instruments or strategies.

FAQs – faxton Account Types & Opening

1. What account types does faxton offer？

• Faxton 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: $0.

1. How long does faxton account verification take？

• Verification typically takes 1-3 business days.

1. Does faxton offer demo accounts？

• Yes, Faxton offers demo accounts for practice trading.

1. Can I have multiple account types with faxton？

• Yes, you can open multiple account types.

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

• Yes, Faxton provides Islamic accounts that are swap-free.

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

• A valid ID and proof of residence are required.

1. Can I change my account type after registration？

• Yes, you can upgrade or downgrade your account type through your account settings.