FINAM broker Accounts

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

Part 1: finam Account Types Explained

Available Account Types

1. Forex-Lite Account

• Minimum Deposit: $5
• Spread/Commission Structure: Variable spreads
• Leverage Options: Up to 1:40
• Key Features: Designed for beginners with low entry barriers.
• Target User Profile: Beginners
• Trading Instruments Available: Major currency pairs

1. Standard Account

• Minimum Deposit: $100
• Spread/Commission Structure: Fixed spreads
• Leverage Options: Up to 1:40
• Key Features: Suitable for regular traders with a moderate trading volume.
• Target User Profile: Intermediate traders
• Trading Instruments Available: Major and minor currency pairs

1. Pro Account

• Minimum Deposit: $1,000
• Spread/Commission Structure: Lower spreads with a commission per trade
• Leverage Options: Up to 1:40
• Key Features: Tailored for professional traders seeking better trading conditions.
• Target User Profile: Advanced traders
• Trading Instruments Available: Wide range of currency pairs and commodities

1. Islamic Account

• Minimum Deposit: $100
• Spread/Commission Structure: Similar to Standard Account
• Leverage Options: Up to 1:40
• Key Features: Swap-free account compliant with Islamic finance principles.
• Target User Profile: Muslim traders
• Trading Instruments Available: Same as Standard Account

1. Demo Account

• Minimum Deposit: Virtual funds (typically $10,000)
• Spread/Commission Structure: Simulated trading conditions
• Leverage Options: Same as live accounts
• Key Features: Allows traders to practice without financial risk.
• Target User Profile: Beginners and those testing strategies
• Trading Instruments Available: Same as live accounts

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginners: Forex-Lite Account
• Intermediate Traders: Standard Account
• Advanced Traders: Pro Account
• Muslim Traders: Islamic Account
• Practice Traders: Demo Account

Part 2: Detailed finam Account Features

Feature Comparison Across Account Types

• Minimum Deposit:

• Forex-Lite: $5

• Standard: $100

• Pro: $1,000

• Islamic: $100

• Demo: Virtual funds

• Maximum Leverage:

• All account types: Up to 1:40

• Spreads:

• Forex-Lite: Variable

• Standard: Fixed

• Pro: Lower spreads + commission

• Islamic: Similar to Standard

• Commission Fees:

• Forex-Lite: None

• Standard: None

• Pro: Yes, per trade

• Islamic: None

• Lot Size:

• Forex-Lite: Micro (1,000 units)

• Standard: Mini (10,000 units)

• Pro: Standard (100,000 units)

• Islamic: Mini (10,000 units)

• Available Trading Platforms:

• All account types: MetaTrader 4

• Execution Type:

• All account types: Market execution

• Islamic Account Availability:

• Yes, for Islamic Account

• Swap-Free Options:

• Available for Islamic Account

• Demo Account Features:

• Virtual trading environment with no financial risk.

Advantages of Each Account Type

• Forex-Lite Account:

• Low minimum deposit

• Ideal for beginners

• No commission fees

• Standard Account:

• Fixed spreads provide predictability

• Moderate deposit requirement

• Pro Account:

• Lower trading costs for high-volume traders

• Access to advanced trading tools

• Islamic Account:

• Complies with Islamic finance principles

• No swap fees

• Demo Account:

• Risk-free trading experience

• Ideal for strategy testing and practice

Disadvantages of Each Account Type

• Forex-Lite Account:

• Limited trading instruments

• Higher spreads compared to other accounts

• Standard Account:

• Higher minimum deposit than Forex-Lite

• Fixed spreads may not be competitive during volatility

• Pro Account:

• Requires higher initial investment

• Commission fees can add up

• Islamic Account:

• Limited to swap-free conditions

• May have restrictions on certain trading strategies

• Demo Account:

• Virtual funds do not reflect real trading conditions

• Limited duration for practice

Part 3: finam Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Primarily available for residents of the Russian Federation.
• Prohibited Countries: Not specified, but generally excludes regions under sanctions.
• Identity Verification Documents Needed:
• Government-issued ID (passport or national ID)
• Additional identification may be required for professional accounts.
• Proof of Residence Requirements:
• Utility bill or bank statement with the applicant's name and address.
• Additional Documentation for Professional Accounts:
• Proof of trading experience or financial status may be required.

KYC/AML Compliance Procedures

• All applicants must undergo Know Your Customer (KYC) verification, which includes identity verification and proof of residence.
• Anti-Money Laundering (AML) checks are conducted to ensure compliance with regulations.

Verification Time Frames

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

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

Registration Process

1. Visit Website: Go to the official finam website.
2. Click Registration: Locate and click on the registration button.
3. Personal Information Entry: Fill in required personal details such as name, email, and phone number.
4. Choose Account Type: Select the desired account type (Forex-Lite, Standard, Pro, Islamic, or Demo).
5. Set Trading Preferences: Indicate your trading preferences and risk tolerance.
6. Document Upload: Upload 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 start trading.
9. Start Trading: Access the trading platform and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, with the mobile version optimized for smaller screens.

Common Registration Issues and Solutions

• Issue: Document upload failures.
• Solution: Ensure documents are clear and in the correct format.
• Issue: Delays in verification.
• Solution: Contact customer support for assistance.

Average Account Approval Time

• Typically, account approval takes 1-3 business days, depending on the verification process.

How to Upgrade/Downgrade Account Types

• Users can request to change their account type through customer support after meeting the necessary requirements for the new account type.

Part 5: finam Demo Account Guide

Demo Account Features and Benefits

• Features: Access to the same trading platform and instruments as live accounts.
• Benefits: Allows traders to practice strategies without financial risk.

How to Open a Demo Account

• Follow the same registration process as for live accounts, selecting the demo option.

Demo Account Limitations

• Limited duration for use (typically 30 days) and may not reflect real market conditions accurately.

Virtual Balance Amount

• Typically, demo accounts come with a virtual balance of $10,000.

Demo vs Live Account Differences

• Demo accounts use virtual funds, while live accounts require real money deposits and involve actual trading risks.

Duration/Expiry of Demo Accounts

• Demo accounts usually expire after 30 days of inactivity or upon reaching the specified duration.

Part 6: finam Islamic Account Details

Swap-Free/Islamic Account Availability

• finam offers an Islamic account option that is compliant with Sharia law.

Eligibility Requirements

• Must be a Muslim trader seeking a swap-free trading environment.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, making them suitable for long-term holding of positions.

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 and limitations on certain instruments.

FAQs – finam Account Types & Opening

1. What account types does finam offer？

• finam offers Forex-Lite, Standard, Pro, Islamic, and Demo accounts.

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

• Forex-Lite: $5, Standard: $100, Pro: $1,000, Islamic: $100, Demo: Virtual funds.

1. How long does finam account verification take？

• Verification typically takes 1-3 business days.

1. Does finam offer demo accounts？

• Yes, finam offers demo accounts for practice trading.

1. Can I have multiple account types with finam？

• Yes, traders can have multiple account types, subject to the broker's policies.

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

• Yes, finam provides Islamic accounts that are compliant with Sharia law.

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

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

1. Can I change my account type after registration？

• Yes, you can request to change your account type through customer support.