GREENFX broker Accounts

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

Part 1: greenfx Account Types Explained

Available Account Types

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.5 pips, no commission.
• Leverage Options: Up to 1:500.
• Key Features: Ideal for beginners, access to various trading instruments.
• Target User Profile: Beginners and casual traders.
• Trading Instruments Available: Forex, commodities, indices.

1. ECN Account

• Minimum Deposit Requirement: $3,000
• Spread/Commission Structure: Raw spreads from 0.0 pips, commission of $5 per standard lot.
• Leverage Options: Up to 1:500.
• Key Features: Direct market access, low latency execution.
• Target User Profile: Intermediate to advanced traders.
• Trading Instruments Available: Forex, commodities, indices.

1. Pro Account

• Minimum Deposit Requirement: $5,000
• Spread/Commission Structure: Variable spreads starting from 1.0 pips, no commission.
• Leverage Options: Up to 1:300.
• Key Features: Enhanced trading conditions, advanced tools.
• Target User Profile: Experienced traders.
• Trading Instruments Available: Forex, commodities, indices.

1. Islamic Account

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

1. Demo Account

• Minimum Deposit Requirement: Virtual funds (typically $10,000).
• Spread/Commission Structure: Similar to Standard Account.
• Leverage Options: Up to 1:500.
• Key Features: Practice trading without risk, access to all trading instruments.
• Target User Profile: Beginners and traders wanting to test strategies.
• Trading Instruments Available: Forex, commodities, indices.

Account Type Comparison Table

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

Part 2: Detailed greenfx Account Features

Comparison of Features Across Different Account Types

• Minimum Deposit:

• Standard: $100

• ECN: $3,000

• Pro: $5,000

• Islamic: $100

• Demo: Virtual funds

• Maximum Leverage:

• Standard: 1:500

• ECN: 1:500

• Pro: 1:300

• Islamic: 1:500

• Demo: 1:500

• Spreads (Typical/Minimum):

• Standard: From 1.5 pips

• ECN: From 0.0 pips

• Pro: From 1.0 pips

• Islamic: Similar to Standard

• Demo: Similar to Standard

• Commission Fees:

• Standard: None

• ECN: $5 per standard lot

• Pro: None

• Islamic: None

• Demo: None

• Lot Size:

• Standard: Micro (0.01)

• ECN: Micro (0.01)

• Pro: Mini (0.1)

• 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: Market

• Islamic: Market

• Demo: Market

• Islamic Account Availability: Yes for Islamic Account only.

• Swap-Free Options: Available for Islamic Account.

• Demo Account Features: Access to all trading instruments, practice trading strategies.

Advantages and Disadvantages of Each Account Type

Standard Account

• Advantages:
• Low minimum deposit.
• No commission fees.
• Suitable for beginners.
• Disadvantages:
• Higher spreads compared to ECN accounts.
• Limited advanced trading features.

ECN Account

• Advantages:
• Tight spreads.
• Direct market access.
• Suitable for high-frequency trading.
• Disadvantages:
• Higher minimum deposit.
• Commission fees apply.

Pro Account

• Advantages:
• Competitive spreads.
• No commission fees.
• Advanced trading tools available.
• Disadvantages:
• Higher minimum deposit.
• Limited leverage compared to Standard and Islamic accounts.

Islamic Account

• Advantages:
• Compliant with Sharia law.
• No swap fees.
• Low minimum deposit.
• Disadvantages:
• Limited to specific trading conditions.

Demo Account

• Advantages:
• Risk-free trading environment.
• Practice with virtual funds.
• Access to all trading instruments.
• Disadvantages:
• No real profits can be earned.
• Limited duration for practice.

Part 3: greenfx Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Not available in certain jurisdictions (specific countries may be restricted).
• Prohibited Countries: Countries under sanctions or restrictions.

Identity Verification Documents Needed

• Identification: Valid government-issued ID (passport, national ID, or drivers license).
• Proof of Residence: Recent utility bill, bank statement, or lease agreement showing your name and address.

Additional Documentation for Professional Accounts

• Financial statements and proof of trading experience may be required.

KYC/AML Compliance Procedures

• All clients must undergo Know Your Customer (KYC) checks to comply with Anti-Money Laundering (AML) regulations.

Verification Time Frames

• Account verification typically takes 24 to 48 hours, depending on the completeness of the submitted documents.

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

Detailed Registration Process

1. Visit Website: Go to the greenfx official website.
2. Click Registration: Locate and click the "Open Account" button.
3. Personal Information Entry: Fill in your personal details, including name, email, and phone number.
4. Choose Account Type: Select the type of account you wish to open (Standard, ECN, Pro, Islamic, or Demo).
5. Set Trading Preferences: Specify your trading preferences, including leverage and trading instruments.
6. Document Upload: Upload the required identification and proof of residence documents.
7. Account Verification: Wait for the verification process to complete.
8. Fund Your Account: Once verified, fund your account through available payment methods.
9. Start Trading: Access your trading platform and begin trading.

Desktop vs Mobile Registration Differences

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

Common Registration Issues and Solutions

• Issue: Document upload errors.
• Solution: Ensure documents are clear and legible.
• Issue: Delays in verification.
• Solution: Contact customer support for status updates.

Average Account Approval Time

• Typically, account approval takes 24 to 48 hours.

How to Upgrade/Downgrade Account Types

• Log into your account, navigate to account settings, and follow the prompts to upgrade or downgrade your account type.

Part 5: greenfx Demo Account Guide

Demo Account Features and Benefits

• Access to all trading instruments.
• Practice trading strategies without financial risk.
• Virtual funds typically set at $10,000.

How to Open a Demo Account

• Follow the same registration steps as for a live account, selecting the Demo option.

Demo Account Limitations

• No real profits can be earned.
• Limited duration for practice (may expire after a set period).

Virtual Balance Amount

• Usually set at $10,000 for practice purposes.

Demo vs Live Account Differences

• Demo accounts use virtual funds; live accounts involve real money and actual trading conditions.

Duration/Expiry of Demo Accounts

• Demo accounts typically expire after 30 days, but this can vary by broker.

Part 6: greenfx Islamic Account Details

Swap-Free/Islamic Account Availability

• Yes, greenfx offers an Islamic account option.

Eligibility Requirements

• Must be a Muslim trader adhering to Sharia law.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees for overnight positions.

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 specific trading conditions and limitations compared to standard accounts.

FAQs – greenfx Account Types & Opening

1. What account types does greenfx offer？

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

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

• Standard: $100, ECN: $3,000, Pro: $5,000, Islamic: $100, Demo: Virtual funds.

1. How long does greenfx account verification take？

• Verification typically takes 24 to 48 hours.

1. Does greenfx offer demo accounts？

• Yes, greenfx provides demo accounts for practice trading.

1. Can I have multiple account types with greenfx？

• Yes, you can open multiple account types.

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

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

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

• A valid ID and proof of residence are required.

1. Can I change my account type after registration？

• Yes, you can upgrade or downgrade your account type through your account settings.