FIG broker Accounts

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

fig Account Types Explained

When considering trading with a financial institution, understanding the different fig account types is crucial. Heres a breakdown of the available account types:

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.0 pips
• Leverage Options: Up to 1:500
• Key Features: Ideal for beginners; access to a wide range of trading instruments.
• Target User Profile: Beginners and casual traders.
• Trading Instruments Available: Forex, commodities, indices.

2. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Low spreads starting from 0.0 pips + commission
• Leverage Options: Up to 1:200
• Key Features: Direct market access; suitable for scalpers and high-frequency traders.
• Target User Profile: Advanced traders and professionals.
• Trading Instruments Available: Forex, commodities, cryptocurrencies.

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Tight spreads with lower commission rates.
• Leverage Options: Up to 1:100
• Key Features: Enhanced trading conditions; priority customer support.
• Target User Profile: Experienced traders seeking better trading conditions.
• Trading Instruments Available: Forex, commodities, indices, stocks.

4. Islamic Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Similar to Standard accounts but swap-free.
• Leverage Options: Up to 1:500
• Key Features: Complies with Islamic finance principles; no interest charges.
• Target User Profile: Muslim traders.
• Trading Instruments Available: Forex, commodities.

5. Demo Account

• Minimum Deposit Requirement: Virtual funds (typically $10,000)
• Spread/Commission Structure: Same as the Standard account.
• Leverage Options: Same as the Standard account.
• Key Features: Risk-free environment to practice trading strategies.
• Target User Profile: Beginners and those testing new strategies.
• Trading Instruments Available: Forex, commodities, indices.

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Detailed fig Account Features

Comparison of Features Across Different Account Types

Advantages of Each Account Type

• Standard Account: Easy to open, suitable for beginners, access to various instruments.
• ECN Account: Lower trading costs, suitable for scalping, direct market access.
• Pro Account: Better trading conditions, priority support, suitable for serious traders.
• Islamic Account: Compliant with Islamic law, no interest fees.
• Demo Account: Safe environment to practice, no financial risk.

Disadvantages of Each Account Type

• Standard Account: Higher spreads compared to ECN.
• ECN Account: Requires higher minimum deposit, commission fees may apply.
• Pro Account: Higher minimum deposit, not beginner-friendly.
• Islamic Account: Limited to Muslim traders, may have fewer features than standard accounts.
• Demo Account: No real profits, limited duration.

fig Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Varies by jurisdiction; check with the broker.
• Prohibited Countries: Specific countries may be restricted; refer to the broker's list.
• Identity Verification Documents Needed: Government-issued ID, proof of address.
• Proof of Residence Requirements: Utility bill or bank statement showing current address.
• Additional Documentation for Professional Accounts: May include financial statements or proof of trading experience.

KYC/AML Compliance Procedures

• Complete identity verification to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.

Verification Time Frames

• Account verification typically takes 1-3 business days, depending on the broker's processes.

Step-by-Step fig Account Opening Guide

Registration Process

1. Visit Website and Click Registration: Go to the broker's website and find the registration option.
2. Personal Information Entry: Fill out personal details such as name, email, and phone number.
3. Choose Account Type: Select the desired account type from the options provided.
4. Set Trading Preferences: Indicate your trading preferences, including leverage and trading instruments.
5. Document Upload: Upload required identity verification documents.
6. Account Verification: Wait for the broker to verify your documents.
7. Fund Your Account: Deposit the minimum required amount to start trading.
8. Start Trading: Access your trading platform and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is generally similar on both platforms, but mobile registration may have additional prompts or simplified steps.

Common Registration Issues and Solutions

• Issue: Document upload failure.
• Solution: Ensure documents are clear and in the correct format.
• Issue: Verification delays.
• Solution: Contact customer support for updates.

Average Account Approval Time

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

How to Upgrade/Downgrade Account Types

• Most brokers allow you to request an upgrade or downgrade through your account settings or by contacting customer support.

fig Demo Account Guide

Demo Account Features and Benefits

• Provides a risk-free environment to practice trading strategies with virtual funds.

How to Open a Demo Account

• Typically available during the registration process; select the demo account option.

Demo Account Limitations

• Limited duration (usually 30-90 days) and no real profits.

Virtual Balance Amount

• Usually set at $10,000 or more in virtual funds.

Demo vs Live Account Differences

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

Duration/Expiry of Demo Accounts

• Demo accounts generally expire after a set period, often 30-90 days.

fig Islamic Account Details

Swap-free/Islamic Account Availability

• Islamic accounts are available and comply with Sharia law.

Eligibility Requirements

• Must be a practicing Muslim.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, aligning with Islamic finance principles.

How to Apply for Islamic Account

• Select the Islamic account option during the registration process.

Restrictions or Special Conditions

• May have specific trading conditions or limitations compared to standard accounts.

FAQs – fig Account Types & Opening

1. What account types does fig offer？

• fig 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 fig account verification take？

• Verification typically takes 1-3 business days.

1. Does fig offer demo accounts？

• Yes, fig offers demo accounts for practice trading.

1. Can I have multiple account types with fig？

• Yes, many brokers allow multiple account types.

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

• Yes, Islamic accounts are available.

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

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

1. Can I change my account type after registration？

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