GOLDMINES broker Accounts

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

goldmines Account Types Explained

Goldmines offers several account types tailored to different trading needs and preferences. Below is an overview of the available account types, including their features, requirements, and target user profiles.

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.0 pips; no commission.
• Leverage Options: Up to 1:500.
• Key Features: Access to all trading instruments, including forex, commodities, and indices.
• Target User Profile: Suitable for beginners and retail traders.
• Trading Instruments Available: Forex pairs, commodities, indices.

2. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Raw spreads starting from 0.0 pips; commission of $3 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 pairs, commodities, cryptocurrencies.

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Spreads starting from 0.5 pips; commission of $2 per lot.
• Leverage Options: Up to 1:300.
• Key Features: Enhanced trading conditions, priority customer support.
• Target User Profile: Experienced traders and professionals.
• Trading Instruments Available: Forex pairs, commodities, indices, and cryptocurrencies.

4. Islamic Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Similar to the Standard Account but swap-free.
• Leverage Options: Up to 1:500.
• Key Features: Complies with Sharia law; no swap fees.
• Target User Profile: Muslim traders seeking compliant trading options.
• Trading Instruments Available: Forex pairs, commodities, indices.

5. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds).
• Spread/Commission Structure: Same as the Standard Account.
• Leverage Options: Same as the Standard Account.
• Key Features: Practice trading without risk, access to all trading instruments.
• Target User Profile: Beginners and those looking to test strategies.
• Trading Instruments Available: Forex pairs, commodities, indices.

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginners: Standard Account, Demo Account
• Intermediate: Pro Account
• Advanced: ECN Account

Detailed goldmines Account Features

Feature Comparison Across Different Account Types

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit.

• No commission fees.

• Ideal for beginners.

• ECN Account:

• Tight spreads.

• Fast execution.

• Suitable for scalping.

• Pro Account:

• Enhanced trading conditions.

• Lower commission fees.

• Priority support.

• Islamic Account:

• Compliance with Sharia law.

• No swap fees.

• Demo Account:

• Risk-free trading environment.

• Practice with virtual funds.

• Access to all trading instruments.

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN.

• ECN Account:

• Requires higher minimum deposit.

• Commission fees apply.

• Pro Account:

• Higher minimum deposit than Standard.

• Commission fees apply.

• Islamic Account:

• Limited to specific trading instruments.

• Demo Account:

• Virtual funds may not reflect real trading conditions.

goldmines Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available in most countries; check specific restrictions.
• Prohibited Countries: Not available in certain jurisdictions (specific countries may vary).
• 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 documents showing your name and address.
• Additional Documentation for Professional Accounts: May require financial statements or proof of trading experience.

KYC/AML Compliance Procedures

• Users must complete Know Your Customer (KYC) verification.
• Anti-Money Laundering (AML) checks are performed during the registration process.

Verification Time Frames

• Account verification typically takes 1-3 business days, depending on the volume of applications.

Step-by-Step goldmines Account Opening Guide

Registration Process

1. Visit the Website: Go to the goldmines official website.
2. Click Registration: Locate and click on the "Register" button.
3. Personal Information Entry: Fill in your personal details, including name, email, and phone number.
4. Choose Account Type: Select the account type that best suits your trading needs.
5. Set Trading Preferences: Indicate your trading preferences and strategies.
6. Document Upload: Upload the required identity verification documents.
7. Account Verification: Wait for the verification process to complete.
8. Fund Your Account: Once verified, deposit funds into your account.
9. Start Trading: Access your trading platform and begin trading.

Desktop vs Mobile Registration Differences

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

Common Registration Issues and Solutions

• Issue: Document upload fails.
• Solution: Ensure documents are in the correct format and within size limits.
• Issue: Verification delays.
• Solution: Contact customer support for assistance.

Average Account Approval Time

• Generally, account approval takes 1-3 business days.

How to Upgrade/Downgrade Account Types

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

goldmines Demo Account Guide

Demo Account Features and Benefits

• Allows traders to practice without financial risk.
• Provides access to all trading instruments available in live accounts.
• Offers a realistic trading environment with virtual funds.

How to Open a Demo Account

• Visit the goldmines website and select the demo account option.
• Fill in the required information and create your demo account.

Demo Account Limitations

• Virtual balance may not reflect real market conditions.
• Limited duration for demo accounts (typically 30-90 days).

Virtual Balance Amount

• The demo account usually comes with a virtual balance of $10,000 or more.

Demo vs Live Account Differences

• Demo accounts use virtual funds; live accounts involve real money.
• Live accounts may incur spreads and commissions, while demo accounts do not.

Duration/Expiry of Demo Accounts

• Demo accounts typically expire after 30-90 days of inactivity.

goldmines Islamic Account Details

Swap-Free/Islamic Account Availability

• Goldmines offers Islamic accounts that comply with Sharia law.

Eligibility Requirements

• Must be a practicing Muslim.
• Verification of religious compliance may be required.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, making them suitable for long-term holding.

How to Apply for Islamic Account

• Select the Islamic account option during the registration process and provide necessary documentation.

Restrictions or Special Conditions

• Islamic accounts may have limitations on certain trading instruments.

FAQs – goldmines Account Types & Opening

1. What account types does goldmines offer？

• Goldmines 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: $100, Demo: N/A.

1. How long does goldmines account verification take？

• Verification typically takes 1-3 business days.

1. Does goldmines offer demo accounts？

• Yes, goldmines provides demo accounts for practice trading.

1. Can I have multiple account types with goldmines？

• Yes, users can open multiple account types.

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

• Yes, goldmines offers Islamic accounts that comply with Sharia law.

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

• A government-issued ID and proof of address are required.

1. Can I change my account type after registration？

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