FIRST MARKETS broker Accounts

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

Part 1: first markets Account Types Overview

first markets Account Types Explained

first markets 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: Spreads from 1.0 pips, no commission fees
• Leverage Options: Up to 1:500
• Key Features: User-friendly for beginners, access to a wide range of trading instruments
• Target User Profile: Beginners and casual traders
• Trading Instruments Available: Forex pairs, commodities, indices, and cryptocurrencies

2. Raw Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Spreads from 0.0 pips, commission of $3.50 per lot
• Leverage Options: Up to 1:500
• Key Features: Direct access to interbank pricing, suitable for professional traders
• Target User Profile: Experienced traders and scalpers
• Trading Instruments Available: Forex pairs, commodities, indices, and cryptocurrencies

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Spreads from 0.5 pips, commission of $2.50 per lot
• Leverage Options: Up to 1:500
• Key Features: Enhanced trading conditions, suitable for high-volume traders
• Target User Profile: Professional and institutional traders
• Trading Instruments Available: Forex pairs, commodities, indices, and cryptocurrencies

4. Islamic Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Similar to Standard or Raw accounts, but swap-free
• Leverage Options: Up to 1:500
• Key Features: Compliant with Islamic finance laws, no interest charges
• Target User Profile: Traders seeking Sharia-compliant trading options
• Trading Instruments Available: Forex pairs, commodities, indices, and cryptocurrencies

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: Practice trading without risk, access to all trading instruments
• Target User Profile: Beginners and those wanting to test strategies
• Trading Instruments Available: Forex pairs, commodities, indices, and cryptocurrencies

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Part 2: first markets Account Features Comparison

Detailed first markets Account Features

Comparison of Features Across Different Account Types

• Minimum Deposit:

• Standard: $100

• Raw: $100

• Pro: $1,000

• Islamic: $100

• Demo: N/A

• Maximum Leverage:

• All accounts: Up to 1:500

• Spreads (Typical/Minimum):

• Standard: From 1.0 pips

• Raw: From 0.0 pips

• Pro: From 0.5 pips

• Islamic: Similar to Standard

• Commission Fees:

• Standard: $0

• Raw: $3.50 per lot

• Pro: $2.50 per lot

• Islamic: $0

• Lot Size:

• Standard: Standard lots

• Raw: Micro, Mini, Standard lots

• Pro: Standard lots

• Islamic: Standard lots

• Demo: Standard lots

• Available Trading Platforms:

• All accounts: MT4, MT5, cTrader

• Execution Type:

• Standard: Market execution

• Raw: ECN execution

• Pro: Market execution

• Islamic: Market execution

• Demo: Market execution

• Islamic Account Availability:

• Yes, available for Standard, Raw, and Pro accounts

• Swap-Free Options:

• Available for Islamic accounts

• Demo Account Features:

• Virtual trading environment with access to all instruments

Advantages and Disadvantages of Each Account Type

Standard Account

• Advantages:
• Low minimum deposit
• No commission fees
• User-friendly for beginners
• Disadvantages:
• Higher spreads compared to Raw Account

Raw Account

• Advantages:
• Tight spreads
• Direct market access
• Disadvantages:
• Commission fees apply

Pro Account

• Advantages:
• Enhanced trading conditions
• Lower commission fees
• Disadvantages:
• Higher minimum deposit requirement

Islamic Account

• Advantages:
• Compliant with Islamic finance laws
• No interest charges
• Disadvantages:
• Limited to certain account types

Demo Account

• Advantages:
• Risk-free trading
• Ideal for practice
• Disadvantages:
• Virtual funds only

Part 3: first markets Account Opening Requirements

first markets Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old

• Geographic Restrictions: Availability may vary by country

• Prohibited Countries: Specific countries may be restricted; check with first markets for details

• 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 utility bill or bank statement with your name and address

• Additional Documentation for Professional Accounts:

• Business registration documents (for corporate accounts)

KYC/AML Compliance Procedures

• first markets follows strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring all clients to verify their identity and address.

Verification Time Frames

• Account verification typically takes 24-48 hours, but may vary based on document submission and broker workload.

Part 4: first markets Account Opening Process

Step-by-Step first markets Account Opening Guide

1. Visit Website and Click Registration: Go to the first markets website and click on 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 best suits your trading needs.
4. Set Trading Preferences: Indicate your trading preferences, including leverage and trading instruments.
5. Document Upload: Upload the required identity verification documents.
6. Account Verification: Wait for the account to be verified; this usually takes 24-48 hours.
7. Fund Your Account: Once verified, deposit funds into your trading account.
8. 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 a user-friendly interface on both.

Common Registration Issues and Solutions

• Issue: Document not accepted

• Solution: Ensure documents are clear and meet the specified requirements.

• Issue: Delayed verification

• Solution: Contact customer support for assistance.

Average Account Approval Time

• Typically, account approval takes 24-48 hours.

How to Upgrade/Downgrade Account Types

• You can request to change your account type through customer support after meeting the minimum requirements for the desired account type.

Part 5: first markets Demo Account Information

first markets Demo Account Guide

Demo Account Features and Benefits

• Allows traders to practice without financial risk
• Access to all trading instruments available in live accounts

How to Open a Demo Account

• Visit the first markets website and select the demo account option during registration.

Demo Account Limitations

• Limited to virtual funds; cannot be used for real trading.

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 involve real money trading.

Duration/Expiry of Demo Accounts

• Demo accounts may remain active for a limited time, usually 30 days, but can be extended upon request.

Part 6: first markets Islamic Account (if available)

first markets Islamic Account Details

Swap-Free/Islamic Account Availability

• Islamic accounts are available and comply with Sharia law.

Eligibility Requirements

• Traders must indicate their need for an Islamic account during registration.

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 account registration process.

Restrictions or Special Conditions

• Islamic accounts may have specific trading conditions; traders should review these before applying.

FAQs – first markets Account Types & Opening

1. What account types does first markets offer？

• first markets offers Standard, Raw, Pro, Islamic, and Demo accounts.

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

• Standard: $100, Raw: $100, Pro: $1,000, Islamic: $100, Demo: N/A.

1. How long does first markets account verification take？

• Verification typically takes 24-48 hours.

1. Does first markets offer demo accounts？

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

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

• Yes, traders can open multiple account types as needed.

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

• Yes, first markets offers Islamic accounts that are swap-free.

1. What documents do I need to open a first markets 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.