Golden Rule broker Accounts

golden rule Account Types Explained

When considering trading with Golden Rule, understanding the various account types available is crucial. Each account type is designed to cater to different trading needs and levels of experience. Below is a comprehensive overview of the available account types, their features, and the target user profiles.

Account Types Overview

Recommended Account Types by Trader Level

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

Detailed golden rule Account Features

Feature Comparison Across Account Types

Advantages and Disadvantages of Each Account Type

Standard Account

• Advantages:
• Low minimum deposit
• User-friendly for beginners
• No commission fees
• Disadvantages:
• Higher spreads
• Limited advanced features

ECN Account

• Advantages:
• Low spreads
• Direct market access
• Faster execution
• Disadvantages:
• Higher minimum deposit
• Commission fees apply

Pro Account

• Advantages:
• Fixed spreads
• Advanced trading tools
• Dedicated account manager
• Disadvantages:
• High minimum deposit
• Commission fees apply

Islamic Account

• Advantages:
• Swap-free trading
• Compliant with Sharia law
• Disadvantages:
• Higher minimum deposit than Standard
• Limited availability of features

Demo Account

• Advantages:
• Risk-free trading environment
• Access to all features
• Disadvantages:
• No real money trading
• Limited duration of use

golden rule Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to users in most countries, but specific restrictions may apply based on local regulations.
• Prohibited Countries: Certain countries may be restricted due to regulatory compliance (specific countries not listed).
• Identity Verification Documents Needed:
• Government-issued ID (passport or drivers license)
• Proof of residence (utility bill or bank statement)
• Additional Documentation for Professional Accounts: May require financial statements or proof of trading experience.

KYC/AML Compliance Procedures

Golden Rule adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring all users to verify their identity and provide necessary documentation.

Verification Time Frames

Account verification typically takes between 1 to 3 business days, depending on the completeness of the submitted documents.

Step-by-Step golden rule Account Opening Guide

Registration Process

1. Visit Website: Go to the Golden Rule 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 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 start trading.
8. Start Trading: Access your account and begin trading.

Desktop vs Mobile Registration Differences

The registration process is similar on both desktop and mobile platforms, but mobile users may have a more streamlined experience.

Common Registration Issues and Solutions

• Issue: Document upload failure.
• Solution: Ensure documents are clear and within size limits.
• Issue: Verification delays.
• Solution: Contact customer support for assistance.

Average Account Approval Time

Most accounts are approved within 1 to 3 business days.

How to Upgrade/Downgrade Account Types

Users can request to upgrade or downgrade their account type through the customer support portal or by contacting their account manager.

golden rule Demo Account Guide

Demo Account Features and Benefits

• Practice trading without financial risk.
• Access to all trading features and instruments.
• Ideal for beginners to learn trading strategies.

How to Open a Demo Account

1. Visit the Golden Rule website.
2. Select the demo account option.
3. Fill in the required personal information.
4. Receive login credentials to access the demo platform.

Demo Account Limitations

• Limited duration of use (typically 30 days).
• No real money trading.

Virtual Balance Amount

Demo accounts usually come with a virtual balance of $10,000 or more.

Demo vs Live Account Differences

• Demo accounts simulate trading without real money, while live accounts involve actual financial transactions.

Duration/Expiry of Demo Accounts

Demo accounts typically expire after 30 days of inactivity.

golden rule Islamic Account Details

Swap-Free/Islamic Account Availability

Golden Rule offers Islamic accounts that comply with Sharia law, allowing Muslim traders to engage in trading without incurring swap fees.

Eligibility Requirements

To qualify for an Islamic account, traders must provide proof of their Muslim faith and request the account during the registration process.

Differences from Standard Accounts

Islamic accounts do not incur swap fees, and they may have different trading conditions compared to standard accounts.

How to Apply for Islamic Account

During the registration process, select the Islamic account option and provide the necessary documentation.

Restrictions or Special Conditions

Islamic accounts may have specific trading conditions, including limitations on certain instruments or trading strategies.

FAQs – golden rule Account Types & Opening

1. What account types does golden rule offer？

• Golden Rule offers 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: $500, Demo: N/A.

1. How long does golden rule account verification take？

• Verification typically takes 1 to 3 business days.

1. Does golden rule offer demo accounts？

• Yes, a demo account is available for practice trading.

1. Can I have multiple account types with golden rule？

• Yes, users can have multiple account types.

1. Does golden rule offer Islamic/swap-free accounts？

• Yes, Islamic accounts are available.

1. What documents do I need to open a golden rule 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 upgrade or downgrade your account type.