guomao broker Accounts

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

guomao Account Types Explained

Guomao offers several account types tailored to different trading needs and profiles. Below is a detailed overview of each account type available:

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 a wide range of trading instruments.
• Target User Profile: Beginners.
• Trading Instruments Available: Forex, commodities, indices.

2. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Spreads from 0.1 pips; commission of $5 per lot.
• Leverage Options: Up to 1:200.
• Key Features: Direct market access; lower spreads; suitable for scalpers.
• Target User Profile: Advanced traders.
• Trading Instruments Available: Forex, commodities, cryptocurrencies.

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Spreads from 0.5 pips; commission of $3 per lot.
• Leverage Options: Up to 1:400.
• Key Features: Enhanced trading conditions; priority customer support.
• Target User Profile: Professional traders.
• Trading Instruments Available: Forex, commodities, indices, stocks.

4. Islamic Account

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

5. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds).
• Spread/Commission Structure: Similar to Standard Account.
• Leverage Options: Up to 1:500.
• Key Features: Practice trading with virtual funds; risk-free environment.
• Target User Profile: Beginners and traders testing strategies.
• Trading Instruments Available: Same as live accounts.

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
• Practicing Traders: Demo Account

Detailed guomao Account Features

Feature Comparison Across Account Types

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit.

• No commission fees.

• User-friendly for beginners.

• ECN Account:

• Tight spreads for cost-effective trading.

• Direct market access.

• Suitable for high-frequency trading.

• Pro Account:

• Enhanced trading conditions.

• Lower commission fees.

• Priority customer support.

• Islamic Account:

• Compliant with Islamic finance principles.

• No swap fees.

• Demo Account:

• Risk-free trading environment.

• Opportunity to practice strategies.

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN.

• ECN Account:

• Higher minimum deposit required.

• Commission fees can add up.

• Pro Account:

• Requires a significant initial investment.

• Islamic Account:

• Limited to specific trading instruments.

• Demo Account:

• No real profits can be made.

• Limited duration for practice.

guomao 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: Check with guomao for the latest list of restricted jurisdictions.
• Identity Verification Documents Needed:
• Valid government-issued ID (passport or national ID).
• Proof of residency (utility bill or bank statement).
• Additional Documentation for Professional Accounts: May require proof of trading experience or financial status.

KYC/AML Compliance Procedures

• All applicants must complete Know Your Customer (KYC) and Anti-Money Laundering (AML) checks.
• Documentation must be submitted for verification.

Verification Time Frames

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

Step-by-Step guomao Account Opening Guide

Detailed Registration Process

1. Visit Website: Go to the guomao official website.
2. Click Registration: Locate and click on the "Open Account" button.
3. Personal Information Entry: Fill in personal details such as name, email, and phone number.
4. Choose Account Type: Select the desired account type from the options available.
5. Set Trading Preferences: Indicate your trading preferences and settings.
6. Document Upload: Upload the required identity verification documents.
7. Account Verification: Wait for the verification process to complete.
8. Fund Your Account: Deposit funds into your new account to start trading.
9. Start Trading: Access the 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 a more streamlined design.

Common Registration Issues and Solutions

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

Average Account Approval Time

• Typically, account approval takes between 1 to 3 business days.

How to Upgrade/Downgrade Account Types

• Log into your account and navigate to the account settings; follow prompts to request an upgrade or downgrade.

guomao Demo Account Guide

Demo Account Features and Benefits

• Features: Access to all trading instruments available in live accounts; practice trading strategies without risk.
• Benefits: Ideal for beginners to familiarize themselves with the trading platform and market conditions.

How to Open a Demo Account

• Follow the same registration steps as for a live account but select the demo option.

Demo Account Limitations

• Virtual Balance Amount: Typically starts with $10,000 in virtual funds.
• Duration/Expiry of Demo Accounts: Demo accounts may expire after 30 days of inactivity.

Demo vs Live Account Differences

• Live accounts involve real money and trading risks, while demo accounts are purely for practice.

guomao Islamic Account Details

Swap-Free/Islamic Account Availability

• Guomao offers Islamic accounts that comply with Sharia law.

Eligibility Requirements

• Must provide documentation confirming the need for an Islamic account.

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; consult guomao for details.

FAQs – guomao Account Types & Opening

1. What account types does guomao offer？

• Guomao 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 guomao account verification take？

• Verification typically takes 1-3 business days.

1. Does guomao offer demo accounts？

• Yes, guomao offers demo accounts for practice trading.

1. Can I have multiple account types with guomao？

• Yes, you can open multiple account types.

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

• Yes, guomao provides Islamic accounts that comply with Sharia law.

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

• A valid ID and proof of residency are required.

1. Can I change my account type after registration？

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