First Index broker Accounts

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

Part 1: first index Account Types Overview

first index Account Types Explained

first index offers several account types tailored to different trading needs and experience levels. Below is a detailed overview of each account type available:

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.5 pips; no commission.
• Leverage Options: Up to 1:500.
• Key Features: Suitable for beginners, offers 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: Raw spreads starting from 0.0 pips; commission of $3 per lot.
• Leverage Options: Up to 1:200.
• Key Features: Direct market access, lower spreads, ideal for high-frequency trading.
• Target User Profile: Experienced traders and scalpers.
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies.

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Variable spreads starting from 1.0 pip; commission of $2 per lot.
• Leverage Options: Up to 1:400.
• Key Features: Enhanced trading conditions, suitable for professional traders.
• Target User Profile: Advanced and institutional traders.
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies.

4. Islamic Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Similar to Standard Account; swap-free.
• Leverage Options: Up to 1:500.
• Key Features: Complies with Sharia law, no swap fees.
• Target User Profile: Muslim traders seeking compliant trading options.
• Trading Instruments Available: Forex, commodities, 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 testing new strategies.
• Trading Instruments Available: Forex, commodities, indices.

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Part 2: first index Account Features Comparison

Detailed first index Account Features

When choosing a first index account type, it's essential to compare the features across different accounts:

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $100

• Demo: $0

• Maximum Leverage:

• Standard: 1:500

• ECN: 1:200

• Pro: 1:400

• Islamic: 1:500

• Demo: 1:500

• Spreads (Typical/Minimum):

• Standard: 1.5 pips

• ECN: 0.0 pips

• Pro: 1.0 pip

• Islamic: 1.5 pips

• Demo: 1.5 pips

• Commission Fees:

• Standard: None

• ECN: $3 per lot

• Pro: $2 per lot

• Islamic: None

• Demo: None

• Lot Size:

• Standard: Micro, Mini, Standard

• ECN: Micro, Mini, Standard

• Pro: Mini, Standard

• Islamic: Micro, Mini, Standard

• Demo: Micro, Mini, 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: Available for Islamic Account.

• Demo Account Features: Virtual trading environment with a balance of $10,000.

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit.

• No commission fees.

• User-friendly for beginners.

• ECN Account:

• Tight spreads.

• Direct market access.

• Suitable for high-frequency trading.

• Pro Account:

• Enhanced trading conditions.

• Lower commission fees.

• Ideal for professional traders.

• Islamic Account:

• Complies with Sharia law.

• No swap fees.

• Accessible to Muslim traders.

• Demo Account:

• Risk-free trading environment.

• Practice strategies without financial risk.

• Unlimited access to trading instruments.

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN.

• Limited features for advanced trading.

• ECN Account:

• Higher minimum deposit.

• Commission fees apply.

• Pro Account:

• Requires a higher initial investment.

• Not suitable for beginners.

• Islamic Account:

• Limited to Muslim traders.

• May have fewer features compared to other accounts.

• Demo Account:

• Virtual funds do not reflect real market conditions.

• Limited duration for practice.

Part 3: first index Account Opening Requirements

first index Account Registration Requirements

To open a first index account, the following eligibility criteria must be met:

• Age Requirements: Must be at least 18 years old.

• Geographic Restrictions: Available in most countries; check specific regulations for your region.

• Prohibited Countries: Specific countries may be restricted; consult first index's terms.

• Identity Verification Documents Needed:

• Government-issued ID (passport or driver's license).

• 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 financial statements or proof of trading experience.

KYC/AML Compliance Procedures

• Complete identity verification through document submission.
• Provide additional information as required for compliance.

Verification Time Frames

• Account verification typically takes 1-3 business days.

Part 4: first index Account Opening Process

Step-by-Step first index Account Opening Guide

Follow these steps to register for a first index account:

1. Visit Website and Click Registration: Go to the first index website and locate the registration 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 and risk tolerance.
5. Document Upload: Upload the required identity verification documents.
6. Account Verification: Wait for the verification process to complete.
7. Fund Your Account: Deposit the minimum required amount to activate your account.
8. Start Trading: Once funded, you can begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both platforms, but mobile may have additional app-specific features.

Common Registration Issues and Solutions

• Issue: Document upload failure.

• Solution: Ensure documents are clear and in the correct format.

• Issue: Delayed verification.

• Solution: Contact customer support for assistance.

Average Account Approval Time

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

How to Upgrade/Downgrade Account Types

• Log into your account and navigate to the account settings to request an upgrade or downgrade.

Part 5: first index Demo Account Information

first index Demo Account Guide

Demo Account Features and Benefits

• Provides a risk-free environment to practice trading.
• Access to all trading instruments available in live accounts.

How to Open a Demo Account

• Follow the same registration process but select the demo account option.

Demo Account Limitations

• Limited to virtual funds; no real money involved.

Virtual Balance Amount

• Typically, a virtual balance of $10,000 is provided.

Demo vs Live Account Differences

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

Duration/Expiry of Demo Accounts

• Demo accounts may expire after a set period, typically 30 days, unless extended.

Part 6: first index Islamic Account (if available)

first index Islamic Account Details

Swap-Free/Islamic Account Availability

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

Eligibility Requirements

• Must be a Muslim trader seeking a swap-free account.

Differences from Standard Accounts

• No swap fees; similar trading conditions to Standard Accounts.

How to Apply for Islamic Account

• Select the Islamic account option during the registration process.

Restrictions or Special Conditions

• Must provide proof of eligibility as a Muslim trader.

FAQs – first index Account Types & Opening

1. What account types does first index offer？

• 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 first index account verification take？

• Typically 1-3 business days.

1. Does first index offer demo accounts？

• Yes, first index provides demo accounts for practice.

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

• Yes, you can open multiple account types.

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

• Yes, Islamic accounts are available.

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

• Government-issued ID and proof of address.

1. Can I change my account type after registration？

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