First Brokers broker Accounts

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

first brokers Account Types Explained

When considering trading with first brokers, understanding the various account types available is crucial. Each account type is designed to cater to different trading needs and levels of experience. Below is a detailed overview of the account types offered by first brokers.

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Fixed spreads starting from 1.0 pips, no commission.
• Leverage Options: Up to 1:500.
• Key Features: User-friendly interface, access to educational resources.
• Target User Profile: Beginners.
• Trading Instruments Available: Forex, commodities, and indices.

2. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Variable spreads starting from 0.1 pips, commission of $5 per lot.
• Leverage Options: Up to 1:200.
• Key Features: Direct market access, lower spreads, and faster execution.
• Target User Profile: Intermediate to advanced traders.
• Trading Instruments Available: Forex, commodities, cryptocurrencies.

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Variable spreads starting from 0.0 pips, commission of $3 per lot.
• Leverage Options: Up to 1:100.
• Key Features: Advanced trading tools, priority customer support.
• Target User Profile: Professional traders and institutions.
• Trading Instruments Available: Forex, commodities, stocks, and ETFs.

4. Islamic Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Similar to Standard Account, but without swap fees.
• Leverage Options: Up to 1:500.
• Key Features: Complies with Sharia law, no interest charges.
• Target User Profile: Muslim traders.
• Trading Instruments Available: Forex and commodities.

5. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds).
• Spread/Commission Structure: Same as Standard Account.
• Leverage Options: Up to 1:500.
• Key Features: Risk-free trading environment, practice with virtual funds.
• Target User Profile: Beginners and those testing strategies.
• Trading Instruments Available: Forex, commodities, and indices.

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 first brokers Account Features

Comparison of Features Across Different Account Types

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $100

• Demo: N/A

• Maximum Leverage:

• Standard: 1:500

• ECN: 1:200

• Pro: 1:100

• Islamic: 1:500

• Demo: 1:500

• Spreads (Typical/Minimum):

• Standard: 1.0 pips

• ECN: 0.1 pips

• Pro: 0.0 pips

• Islamic: Similar to Standard

• Demo: Similar to Standard

• Commission Fees:

• Standard: None

• ECN: $5 per lot

• Pro: $3 per lot

• Islamic: None

• Demo: None

• Lot Size:

• Standard: Micro, Mini, Standard

• ECN: Micro, Mini, Standard

• Pro: Standard

• Islamic: Micro, Mini, Standard

• Demo: Micro, Mini, Standard

• Available Trading Platforms:

• Standard: MT4, MT5

• ECN: MT4, MT5

• Pro: Proprietary platform

• Islamic: MT4, MT5

• Demo: MT4, MT5

• Execution Type:

• Standard: Market

• ECN: ECN

• Pro: Market

• Islamic: Market

• Demo: Market

• Islamic Account Availability:

• Standard: Yes

• ECN: Yes

• Pro: Yes

• Islamic: Yes

• Demo: No

• Swap-Free Options:

• Standard: Yes

• ECN: Yes

• Pro: Yes

• Islamic: Yes

• Demo: No

• Demo Account Features:

• Virtual balance amount: $100,000

• Duration/expiry: 30 days

Advantages of Each Account Type

• Standard Account:
• Low minimum deposit
• Fixed spreads
• Educational resources available
• ECN Account:
• Tight spreads
• Fast execution speeds
• Direct market access
• Pro Account:
• Advanced trading tools
• Lower commission rates
• Priority support
• Islamic Account:
• Complies with Sharia law
• No interest charges
• Flexible trading options
• Demo Account:
• Risk-free trading
• Practice with real market conditions
• No financial commitment

Disadvantages of Each Account Type

• Standard Account:
• Higher spreads compared to ECN and Pro
• ECN Account:
• Higher minimum deposit
• Commission fees apply
• Pro Account:
• High minimum deposit
• Not suitable for beginners
• Islamic Account:
• Limited to specific trading instruments
• Demo Account:
• Limited duration
• No real financial gains

first brokers Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available in most countries, but specific restrictions may apply.
• Prohibited Countries: Countries under international sanctions may be restricted.
• Identity Verification Documents Needed: Government-issued ID (passport, driver's 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 statements may be required.

KYC/AML Compliance Procedures

• Verification of identity and address is mandatory.
• Additional checks may be performed to comply with anti-money laundering regulations.

Verification Time Frames

• Typically, account verification takes between 1 to 3 business days.

Step-by-Step first brokers Account Opening Guide

Detailed Registration Process

1. Visit Website and Click Registration: Go to the first brokers website and click on the "Open Account" 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 suits your trading needs.
4. Set Trading Preferences: Specify your trading preferences such as leverage and trading instruments.
5. Document Upload: Upload required identification and proof of residence documents.
6. Account Verification: Wait for the account to be verified by the brokers.
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 similar on both desktop and mobile platforms, but mobile may have a simplified interface.

Common Registration Issues and Solutions

• Issue: Document upload fails.
• Solution: Ensure documents are in the correct format and within size limits.
• Issue: Verification delays.
• Solution: Contact customer support for assistance.

Average Account Approval Time

• Most accounts are approved within 1 to 3 business days.

How to Upgrade/Downgrade Account Types

• Contact customer support to request an upgrade or downgrade of your account type.

first brokers Demo Account Guide

Demo Account Features and Benefits

• Allows traders to practice without financial risk.
• Provides access to the same trading platform as live accounts.

How to Open a Demo Account

• Follow the same registration process but select "Demo Account" during the account type selection.

Demo Account Limitations

• Limited time access (typically 30 days).
• Virtual funds cannot be withdrawn.

Virtual Balance Amount

• Typically $100,000 in virtual funds.

Demo vs Live Account Differences

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

Duration/Expiry of Demo Accounts

• Demo accounts usually expire after 30 days of inactivity.

first brokers 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

• No swap fees are charged on overnight positions.

How to Apply for Islamic Account

• Select the Islamic account option during the registration process.

Restrictions or Special Conditions

• Islamic accounts may have specific trading conditions that differ from standard accounts.

FAQs – first brokers Account Types & Opening

1. What account types does first brokers offer？

• first brokers 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 first brokers account verification take？

• Verification typically takes 1 to 3 business days.

1. Does first brokers offer demo accounts？

• Yes, first brokers offers a demo account for practice trading.

1. Can I have multiple account types with first brokers？

• Yes, you can have multiple account types.

1. Does first brokers offer Islamic/swap-free accounts？

• Yes, Islamic accounts are available.

1. What documents do I need to open a first brokers 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 upgrade or downgrade your account type through customer support.