ForeignCurrencies broker Accounts

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

Part 1: foreigncurrencies Account Types Explained

Available Account Types

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: Ideal for beginners, access to basic trading tools
• Target User Profile: Beginners
• Trading Instruments Available: Forex, commodities, indices

1. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Raw spreads from 0.0 pips, commission of $3 per lot
• Leverage Options: Up to 1:200
• Key Features: Direct market access, lower spreads, faster execution
• Target User Profile: Advanced traders
• Trading Instruments Available: Forex, commodities, cryptocurrencies

1. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Fixed spreads starting from 0.5 pips, commission of $2 per lot
• Leverage Options: Up to 1:100
• Key Features: Advanced trading tools, dedicated account manager
• Target User Profile: Professional traders
• Trading Instruments Available: Forex, commodities, indices, 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, compliant with Sharia law
• Target User Profile: Muslim traders
• Trading Instruments Available: Forex, commodities

1. Demo Account

• Minimum Deposit Requirement: Virtual funds (typically $10,000)
• Spread/Commission Structure: Same as Standard Account
• Leverage Options: Same as Standard Account
• Key Features: Risk-free trading environment, practice strategies
• Target User Profile: Beginners and experienced traders
• Trading Instruments Available: Forex, commodities, indices

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Part 2: foreigncurrencies Account Features Comparison

Detailed foreigncurrencies Account Features

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $100

• Demo: Virtual funds

• 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 1.0 pips

• ECN: From 0.0 pips

• Pro: From 0.5 pips

• Islamic: Same as Standard

• Demo: Same as Standard

• Commission Fees:

• Standard: None

• ECN: $3 per lot

• Pro: $2 per lot

• Islamic: None

• Demo: None

• Lot Size:

• Standard: Micro (0.01)

• ECN: Mini (0.1) and Standard (1.0)

• Pro: Mini (0.1) and Standard (1.0)

• Islamic: Micro (0.01)

• Demo: Micro (0.01)

• 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

• 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, access to all trading instruments, practice trading strategies.

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit

• User-friendly for beginners

• Access to basic trading tools

• ECN Account:

• Lower spreads

• Direct market access

• Faster execution speeds

• Pro Account:

• Advanced trading tools

• Dedicated account manager

• Competitive spreads

• Islamic Account:

• Compliant with Sharia law

• Swap-free trading

• Accessible to Muslim traders

• Demo Account:

• Risk-free environment

• Practice without financial risk

• Access to all trading features

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:

• Higher minimum deposit

• May not be suitable for casual traders

• Islamic Account:

• Limited to Muslim traders

• Similar features to Standard Account

• Demo Account:

• No real profits

• Limited to virtual funds

Part 3: foreigncurrencies Account Opening Requirements

foreigncurrencies Account Registration Requirements

• Eligibility Criteria:

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

• Geographic Restrictions: Available to residents of most countries; specific restrictions may apply.

• Prohibited Countries: Countries under international sanctions may be restricted.

• Identity Verification Documents Needed:

• Government-issued ID (passport or drivers license)

• Proof of address (utility bill or bank statement)

• Proof of Residence Requirements:

• Recent utility bill or bank statement showing the applicants name and address.

• Additional Documentation for Professional Accounts:

• Business registration documents (for corporate accounts)

• Tax identification number

• KYC/AML Compliance Procedures:

• Completion of Know Your Customer (KYC) forms.

• Anti-Money Laundering (AML) checks.

• Verification Time Frames:

• Typically takes 1-3 business days for account verification.

Part 4: foreigncurrencies Account Opening Process

Step-by-Step foreigncurrencies Account Opening Guide

1. Visit Website and Click Registration: Navigate to the foreigncurrencies website and select the registration option.
2. Personal Information Entry: Fill in personal details such as name, email, and phone number.
3. Choose Account Type: Select the desired account type based on trading needs.
4. Set Trading Preferences: Specify trading preferences, including leverage and trading instruments.
5. Document Upload: Upload required identification and proof of residence documents.
6. Account Verification: Wait for the verification process to complete.
7. Fund Your Account: Deposit the minimum required amount to activate the account.
8. Start Trading: Access the trading platform and begin trading.

• Desktop vs Mobile Registration Differences: The registration process is generally similar on both platforms, but mobile may have app-specific features.
• Common Registration Issues and Solutions: Issues may include document rejection due to poor quality; ensure documents are clear and legible.
• Average Account Approval Time: Typically 1-3 business days.
• How to Upgrade/Downgrade Account Types: Contact customer support to request an upgrade or downgrade.

Part 5: foreigncurrencies Demo Account Information

foreigncurrencies Demo Account Guide

• Demo Account Features and Benefits:

• Risk-free trading environment

• Access to all trading instruments

• Ability to practice strategies without financial risk

• How to Open a Demo Account:

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

• Fill in the required personal information.

• Receive access credentials via email.

• Demo Account Limitations:

• Limited to virtual funds

• No real profits can be made

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

• Demo vs Live Account Differences:

• Demo accounts use virtual funds; live accounts involve real money.

• Live accounts may have additional fees and commissions.

• Duration/Expiry of Demo Accounts: Demo accounts usually remain active for 30-90 days, depending on the broker.

Part 6: foreigncurrencies Islamic Account Details

foreigncurrencies Islamic Account Details

• Swap-Free/Islamic Account Availability: Yes, Islamic accounts are available for all account types.
• Eligibility Requirements: Must be a Muslim trader adhering to Sharia law.
• Differences from Standard Accounts: Islamic accounts do not incur swap fees.
• How to Apply for Islamic Account: Select the Islamic account option during registration or contact customer support.
• Restrictions or Special Conditions: Must comply with Sharia law; no interest-bearing transactions.

FAQs – foreigncurrencies Account Types & Opening

1. What account types does foreigncurrencies 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: Virtual funds.

1. How long does foreigncurrencies account verification take？

• Typically 1-3 business days.

1. Does foreigncurrencies offer demo accounts？

• Yes, foreigncurrencies provides demo accounts for practice.

1. Can I have multiple account types with foreigncurrencies？

• Yes, you can hold multiple account types.

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

• Yes, Islamic accounts are available.

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

• Government-issued ID and proof of residence.

1. Can I change my account type after registration？

• Yes, by contacting customer support.