ForexCT broker Accounts

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

Part 1: forexct Account Types Explained

Available Account Types

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.5 pips
• Leverage Options: Up to 1:500
• Key Features: Suitable for beginners; access to major currency pairs and commodities.
• 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 with a commission fee of $3 per lot
• Leverage Options: Up to 1:200
• Key Features: Direct market access, ideal for scalpers and high-frequency traders.
• Target User Profile: Advanced traders
• Trading Instruments Available: Forex, commodities, indices

1. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Variable spreads starting from 1.0 pip with lower commission fees
• Leverage Options: Up to 1:400
• Key Features: Designed for professional traders; higher trading limits and advanced tools.
• Target User Profile: Professional traders
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

1. Islamic Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Similar to Standard Account with no swap fees
• Leverage Options: Up to 1:500
• Key Features: Compliant with Islamic finance principles; no overnight interest.
• Target User Profile: Muslim traders
• Trading Instruments Available: Forex, commodities, indices

1. Demo Account

• Minimum Deposit Requirement: Virtual funds of $20,000
• 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 experienced traders testing strategies
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Part 2: Detailed forexct Account Features

Feature Comparison Across Account Types

• 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: From 1.5 pips

• ECN: From 0.0 pips

• Pro: From 1.0 pip

• Islamic: From 1.5 pips

• Demo: Same as Standard

• Commission Fees:

• Standard: None

• ECN: $3 per lot

• Pro: Lower than ECN

• Islamic: None

• Demo: None

• Lot Size:

• Standard: 1 lot

• ECN: 0.01 lot

• Pro: 1 lot

• Islamic: 1 lot

• Demo: 0.01 lot

• 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:

• Standard: Yes

• ECN: Yes

• Pro: Yes

• Islamic: N/A

• Demo: N/A

• Swap-Free Options:

• Standard: Yes

• ECN: Yes

• Pro: Yes

• Islamic: N/A

• Demo: N/A

• Demo Account Features:

• Virtual funds: $20,000

• Duration: Unlimited until account is inactive

Advantages and Disadvantages of Each Account Type

• Standard Account:

• Advantages: Low minimum deposit, user-friendly.

• Disadvantages: Higher spreads.

• ECN Account:

• Advantages: Tight spreads, direct market access.

• Disadvantages: Higher minimum deposit, commission fees.

• Pro Account:

• Advantages: Lower commission, advanced trading tools.

• Disadvantages: Higher minimum deposit.

• Islamic Account:

• Advantages: Compliant with Islamic laws, no swap fees.

• Disadvantages: Limited availability for non-Muslim traders.

• Demo Account:

• Advantages: Risk-free trading, practice environment.

• Disadvantages: Virtual funds only, no real profits.

Part 3: forexct Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available in most countries; check local regulations.
• Prohibited Countries: Specific countries may be restricted due to regulatory compliance.
• 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 document showing 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.
• Compliance with Anti-Money Laundering regulations.

Verification Time Frames

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

Part 4: Step-by-Step forexct Account Opening Guide

Registration Process

1. Visit Website and Click Registration: Go to the forexct 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 desired account type (Standard, ECN, Pro, Islamic, or Demo).
4. Set Trading Preferences: Indicate your trading preferences, including leverage and trading instruments.
5. Document Upload: Upload 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 start trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both platforms, but mobile may have additional verification steps via SMS.

Common Registration Issues and Solutions

• Issue: Document upload failure.
• Solution: Ensure documents are clear and in the correct format.
• Issue: Email not received for verification.
• Solution: Check spam folder or request a resend.

Average Account Approval Time

• Typically 1-3 business days.

How to Upgrade/Downgrade Account Types

• Contact customer support to request an account type change.

Part 5: forexct Demo Account Guide

Demo Account Features and Benefits

• Allows risk-free trading with virtual funds.
• Access to all trading instruments available in live accounts.

How to Open a Demo Account

• Follow the same registration process as a live account but select "Demo Account."

Demo Account Limitations

• Limited to virtual trading; no real profits can be earned.

Virtual Balance Amount

• Typically $20,000 in virtual funds.

Demo vs Live Account Differences

• Demo accounts use virtual funds; live accounts require real money deposits.

Duration/Expiry of Demo Accounts

• Demo accounts remain active until inactive for an extended period.

Part 6: forexct Islamic Account Details

Swap-Free/Islamic Account Availability

• Yes, forexct offers Islamic accounts compliant with Sharia law.

Eligibility Requirements

• Must be a practicing Muslim.

Differences from Standard Accounts

• No swap fees applied on overnight positions.

How to Apply for Islamic Account

• Select the Islamic account option during the registration process.

Restrictions or Special Conditions

• Must adhere to Islamic trading principles; no interest-bearing transactions.

FAQs – forexct Account Types & Opening

1. What account types does forexct 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 forexct account verification take？

• Typically 1-3 business days.

1. Does forexct offer demo accounts？

• Yes, forexct provides demo accounts with virtual funds.

1. Can I have multiple account types with forexct？

• Yes, you can open multiple account types.

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

• Yes, Islamic accounts are available.

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

• Government-issued ID and proof of residence.

1. Can I change my account type after registration？

• Yes, by contacting customer support.