Finq broker Accounts

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

Part 1: finq Account Types Overview

finq Account Types Explained

Finq offers a variety of account types tailored to meet the needs of different traders. Below is an overview of the available account types:

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: Access to a wide range of trading instruments, educational resources, and customer support.
• Target User Profile: Beginner to intermediate traders
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies

1. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Spreads from 0.0 pips with a commission of $6 per round turn
• Leverage Options: Up to 1:200
• Key Features: Direct market access, lower spreads, and faster execution.
• Target User Profile: Advanced traders and scalpers
• Trading Instruments Available: Forex, commodities, and indices

1. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Spreads from 0.1 pips with a commission of $4 per round turn
• Leverage Options: Up to 1:100
• Key Features: Enhanced trading conditions, priority customer support, and advanced trading tools.
• Target User Profile: Professional traders
• Trading Instruments Available: Forex, commodities, indices, and stocks

1. Islamic Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Similar to Standard Account
• Leverage Options: Up to 1:500
• Key Features: Swap-free trading to comply with Islamic finance principles.
• Target User Profile: Muslim traders
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies

1. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds)
• Spread/Commission Structure: Same as Standard Account
• Leverage Options: Same as Standard Account
• Key Features: Risk-free environment to practice trading strategies with virtual funds.
• Target User Profile: Beginners and traders looking to test strategies
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginners: Standard Account or Demo Account
• Intermediate Traders: Standard Account or Pro Account
• Advanced Traders: ECN Account
• Professional Traders: Pro Account

Part 2: finq Account Features Comparison

Detailed finq Account Features

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

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $100

• Demo: N/A

• Maximum Leverage:

• Standard: Up to 1:500

• ECN: Up to 1:200

• Pro: Up to 1:100

• Islamic: Up to 1:500

• Demo: Same as Standard

• Spreads (Typical/Minimum):

• Standard: From 1.5 pips

• ECN: From 0.0 pips

• Pro: From 0.1 pips

• Islamic: Same as Standard

• Demo: Same as Standard

• Commission Fees:

• Standard: N/A

• ECN: $6 per round turn

• Pro: $4 per round turn

• Islamic: N/A

• Demo: N/A

• Lot Size:

• Standard: Micro/Standard

• ECN: Micro/Standard

• Pro: Mini/Standard

• Islamic: Micro/Standard

• Demo: Micro/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: Yes for Islamic Account

• Swap-Free Options: Yes for Islamic Account

• Demo Account Features: Available for all account types

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit

• Access to educational resources

• Suitable for beginners

• ECN Account:

• Tight spreads

• Direct market access

• Ideal for scalping

• Pro Account:

• Enhanced trading conditions

• Lower commission fees

• Priority customer support

• Islamic Account:

• Compliance with Islamic finance principles

• No swap fees

• Accessible to Muslim traders

• Demo Account:

• Risk-free trading environment

• Practice with virtual funds

• Test strategies before going live

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN

• Limited advanced features

• ECN Account:

• Higher minimum deposit

• Commission fees can add up

• Pro Account:

• High minimum deposit

• Limited to professional traders

• Islamic Account:

• Limited features compared to Pro

• May not be suitable for all traders

• Demo Account:

• No real money trading

• Limited duration for practice

Part 3: finq Account Opening Requirements

finq Account Registration Requirements

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

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Availability may vary by country; check local regulations.
• Prohibited Countries: Specific countries may be restricted; consult finq's website for details.
• Identity Verification Documents Needed:
• Government-issued ID (passport or national ID)
• 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 proof of trading experience or financial statements.

KYC/AML Compliance Procedures

Finq adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring all users to verify their identity and provide necessary documentation.

Verification Time Frames

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

Part 4: finq Account Opening Process

Step-by-Step finq Account Opening Guide

1. Visit Website and Click Registration: Go to the finq website and click on the "Sign Up" button.
2. Personal Information Entry: Fill in your personal details, including name, email, and phone number.
3. Choose Account Type: Select the account type that best suits your trading needs.
4. Set Trading Preferences: Indicate your trading preferences and risk tolerance.
5. Document Upload: Upload the required identity verification documents.
6. Account Verification: Wait for the account to be verified by the finq 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 begin trading.

Desktop vs Mobile Registration Differences

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

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 assistance.

Average Account Approval Time

The average account approval time is between 1-3 business days, depending on the verification process.

How to Upgrade/Downgrade Account Types

To change your account type, contact finq customer support to request an upgrade or downgrade.

Part 5: finq Demo Account Information

finq Demo Account Guide

The demo account offers a risk-free environment for traders to practice their strategies.

• Demo Account Features and Benefits:

• Access to the same trading platforms as live accounts

• Virtual funds to trade without financial risk

• Ability to test trading strategies and tools

• How to Open a Demo Account:

• Visit the finq website and select the demo account option.

• Fill in the required information and create your demo account.

• Demo Account Limitations:

• Limited duration (typically 30 days)

• Virtual funds may not be withdrawn

• Virtual Balance Amount: Typically $10,000 in virtual funds.

• Demo vs Live Account Differences:

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

• Trading conditions may vary slightly.

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

Part 6: finq Islamic Account (if available)

finq Islamic Account Details

Finq offers Islamic accounts that comply with Sharia law.

• Swap-Free/Islamic Account Availability: Yes, Islamic accounts are available.
• Eligibility Requirements: Must be a Muslim trader.
• Differences from Standard Accounts: No swap fees applied.
• How to Apply for Islamic Account: Indicate your preference during the account registration process or contact customer support.
• Restrictions or Special Conditions: Must adhere to Islamic finance principles.

FAQs – finq Account Types & Opening

1. What account types does finq offer？

• Finq 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: N/A.

1. How long does finq account verification take？

• Verification typically takes 1-3 business days.

1. Does finq offer demo accounts？

• Yes, finq offers demo accounts for practice trading.

1. Can I have multiple account types with finq？

• Yes, you can open multiple account types.

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

• Yes, finq offers Islamic accounts that comply with Sharia law.

1. What documents do I need to open a finq 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 through customer support.