FLY broker Accounts

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

Part 1: fly Account Types Overview

fly Account Types Explained

The following account types are available for traders looking to engage with Fly:

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.0 pips
• Leverage Options: Up to 1:500
• Key Features: Access to all major currency pairs, commodities, and indices
• Target User Profile: Beginners and intermediate traders
• Trading Instruments Available: Forex, commodities, indices

1. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Raw spreads starting from 0.0 pips with a commission of $5 per lot
• 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, cryptocurrencies

1. Pro Account

• Minimum Deposit Requirement: $5,000
• Spread/Commission Structure: Fixed spreads starting from 1.5 pips
• Leverage Options: Up to 1:100
• Key Features: Tailored services for institutional clients, dedicated account manager
• Target User Profile: Institutional and high-net-worth traders
• Trading Instruments Available: Forex, commodities, indices, stocks

1. Islamic Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.0 pips
• Leverage Options: Up to 1:500
• Key Features: Swap-free trading in compliance with Sharia law
• Target User Profile: Muslim traders
• Trading Instruments Available: Forex, commodities, indices

1. Demo Account

• Minimum Deposit Requirement: Virtual balance (typically $100,000)
• Spread/Commission Structure: Same as live accounts
• Leverage Options: Same as live accounts
• Key Features: Risk-free environment to practice trading strategies
• Target User Profile: Beginners and traders testing new strategies
• Trading Instruments Available: All instruments available in live accounts

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Part 2: fly Account Features Comparison

Detailed fly Account Features

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

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $5,000

• Islamic: $100

• Demo: Virtual balance

• Maximum Leverage:

• Standard: 1:500

• ECN: 1:200

• Pro: 1:100

• Islamic: 1:500

• Spreads (Typical/Minimum):

• Standard: Variable from 1.0 pips

• ECN: Raw from 0.0 pips

• Pro: Fixed from 1.5 pips

• Islamic: Variable from 1.0 pips

• Commission Fees:

• Standard: None

• ECN: $5 per lot

• Pro: Included in spread

• Islamic: None

• Lot Size:

• Standard: Micro, Mini, Standard

• ECN: Micro, Mini, Standard

• Pro: Standard

• Islamic: 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: Instant

• Islamic: Market

• Islamic Account Availability:

• Standard: Yes

• ECN: Yes

• Pro: Yes

• Islamic: Yes

• Swap-free Options:

• Available for all account types designated as Islamic.

• Demo Account Features:

• Virtual balance for practice, same spreads and leverage as live accounts.

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit

• Access to a wide range of instruments

• Suitable for beginners

• ECN Account:

• Tight spreads

• Fast execution speeds

• Ideal for scalping strategies

• Pro Account:

• Dedicated support

• Tailored services

• Access to advanced trading tools

• Islamic Account:

• Compliance with Sharia law

• No swap fees

• Available for all trading instruments

• Demo Account:

• Risk-free trading environment

• Practice with real market conditions

• Unlimited duration for practice

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN

• Limited advanced features

• ECN Account:

• Higher minimum deposit

• Commission fees apply

• Pro Account:

• High minimum deposit

• Not suitable for casual traders

• Islamic Account:

• Limited availability in some regions

• May have higher spreads

• Demo Account:

• No real profits

• Limited to virtual trading experience

Part 3: fly Account Opening Requirements

fly Account Registration Requirements

Eligibility Criteria:

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available in most countries, but may have restrictions in certain regions.
• Prohibited Countries: Specific countries may be restricted due to regulatory compliance (details not specified).
• Identity Verification Documents Needed:
• Government-issued ID (passport or drivers 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

• All accounts must undergo Know Your Customer (KYC) and Anti-Money Laundering (AML) checks to ensure compliance with regulations.

Verification Time Frames

• Typically, account verification can take anywhere from a few hours to a few days, depending on the completeness of the submitted documents.

Part 4: fly Account Opening Process

Step-by-Step fly Account Opening Guide

1. Visit Website and Click Registration: Go to the official Fly website and select the registration option.
2. Personal Information Entry: Fill out the required personal details, including name, email, and phone number.
3. Choose Account Type: Select the desired account type based on your trading needs.
4. Set Trading Preferences: Specify your trading preferences, including leverage and trading instruments.
5. Document Upload: Upload the necessary identification and proof of residence documents.
6. Account Verification: Wait for the verification process to complete, which may involve KYC checks.
7. Fund Your Account: Deposit the minimum required amount to activate your trading account.
8. Start Trading: Once your account is funded and verified, you can begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, but the mobile interface may have simplified steps for ease of use.

Common Registration Issues and Solutions

• Issue: Document upload failure.
• Solution: Ensure documents are clear and in the correct format (JPEG, PNG, PDF).
• Issue: Verification delays.
• Solution: Contact customer support for assistance.

Average Account Approval Time

• Account approval typically takes 24 to 48 hours, depending on the volume of applications and the completeness of submitted documents.

How to Upgrade/Downgrade Account Types

• Users can request an upgrade or downgrade through their account management section or by contacting customer support.

Part 5: fly Demo Account Information

fly Demo Account Guide

Demo Account Features and Benefits

• Provides a risk-free environment for practicing trading strategies.
• Access to the same trading platforms and instruments as live accounts.

How to Open a Demo Account

• Visit the Fly website, select the demo account option, and follow the prompts to create an account.

Demo Account Limitations

• Limited to virtual trading; no real profits can be made.
• May have restrictions on certain features compared to live accounts.

Virtual Balance Amount

• Typically, demo accounts come with a virtual balance of $100,000 for practice.

Demo vs Live Account Differences

• Demo accounts do not involve real money, while live accounts require actual deposits and involve real trading risks.

Duration/Expiry of Demo Accounts

• Demo accounts may remain active for an extended period, but some platforms may impose a time limit or require periodic reactivation.

Part 6: fly Islamic Account (if available)

fly Islamic Account Details

Swap-free/Islamic Account Availability

• Islamic accounts are available for all account types, allowing traders to operate without incurring swap fees.

Eligibility Requirements

• Must be a practicing Muslim adhering to Islamic finance principles.

Differences from Standard Accounts

• Islamic accounts do not incur overnight swap fees, making them compliant with Sharia law.

How to Apply for Islamic Account

• Select the Islamic account option during the registration process or contact customer support for assistance.

Restrictions or Special Conditions

• Islamic accounts may have specific trading conditions, such as higher spreads or limited access to certain instruments.

FAQs – fly Account Types & Opening

1. What account types does fly offer？

• Fly offers Standard, ECN, Pro, Islamic, and Demo accounts.

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

• Standard: $100, ECN: $500, Pro: $5,000, Islamic: $100, Demo: Virtual balance.

1. How long does fly account verification take？

• Verification typically takes 24 to 48 hours.

1. Does fly offer demo accounts？

• Yes, fly offers demo accounts for practice trading.

1. Can I have multiple account types with fly？

• Yes, users can have multiple account types.

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

• Yes, Islamic accounts are available for all account types.

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

• Government-issued ID and proof of residence.

1. Can I change my account type after registration？

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