HERMES MARKET broker Accounts

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

hermes market Account Types Explained

Hermes Market offers several account types tailored to different trading needs and experience levels. 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: Basic trading tools, access to major currency pairs, and educational resources.
• Target User Profile: Beginners and casual traders.
• Trading Instruments Available: Forex, commodities, and 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, and faster execution.
• Target User Profile: Experienced traders and scalpers.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Spreads from 0.0 pips; commission of $3 per lot.
• Leverage Options: Up to 1:100.
• Key Features: Advanced trading tools, priority customer support, and dedicated account manager.
• Target User Profile: Professional traders and institutions.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

4. Islamic Account

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

5. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds).
• Spread/Commission Structure: Same as Standard Account.
• Leverage Options: Up to 1:500.
• Key Features: Practice trading with virtual funds, access to all trading tools.
• Target User Profile: Beginners and traders looking to test strategies.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Detailed hermes market Account Features

Account Features Comparison

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit.

• No commission fees.

• Suitable for beginners.

• ECN Account:

• Tight spreads and low commissions.

• Faster execution speeds.

• Ideal for scalping strategies.

• Pro Account:

• Lowest spreads available.

• Dedicated account management.

• Advanced trading tools.

• Islamic Account:

• Complies with Islamic finance principles.

• No interest on overnight positions.

• Accessible to all traders.

• Demo Account:

• Risk-free trading environment.

• Access to all trading tools.

• Great for practice and strategy testing.

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN and Pro accounts.

• Limited advanced features.

• ECN Account:

• Higher minimum deposit required.

• Commission fees can add up.

• Pro Account:

• Requires a higher initial investment.

• Not suitable for casual traders.

• Islamic Account:

• Limited to specific trading instruments.

• May have restrictions on trading strategies.

• Demo Account:

• No real profits can be made.

• Limited to virtual funds.

hermes market Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available in most countries; check specific restrictions based on local regulations.
• Prohibited Countries: Specific countries may be restricted; consult the Hermes Market website for details.
• Identity Verification Documents Needed: Valid government-issued ID (passport, national ID).
• Proof of Residence Requirements: Recent utility bill or bank statement.
• Additional Documentation for Professional Accounts: May require business registration documents and financial statements.

KYC/AML Compliance Procedures

Hermes Market adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring all clients to provide identification and proof of address.

Verification Time Frames

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

Step-by-Step hermes market Account Opening Guide

Registration Process

1. Visit Website: Go to the Hermes Market official website.
2. Click Registration: Find 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: Specify trading preferences, including leverage and trading instruments.
6. Document Upload: Upload required identification and proof of residence documents.
7. Account Verification: Wait for the verification process to complete.
8. Fund Your Account: Deposit funds 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 mobile users may have a more streamlined experience with fewer steps.

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

Most accounts are approved within 1-3 business days, depending on the completeness of the application.

How to Upgrade/Downgrade Account Types

Users can request an upgrade or downgrade by contacting customer support and providing the necessary documentation for the new account type.

hermes market Demo Account Guide

Demo Account Features and Benefits

• Features: Access to all trading tools and platforms with virtual funds.
• Benefits: Allows traders to practice strategies without financial risk.

How to Open a Demo Account

• Visit the Hermes Market website and select the "Open Demo Account" option.
• Fill in the required personal information.
• Start trading with virtual funds.

Demo Account Limitations

• Limited to virtual funds; cannot be used for real trading.
• May have a time limit on usage.

Virtual Balance Amount

Typically, demo accounts come with a virtual balance of $10,000 or more, depending on the broker's policy.

Demo vs Live Account Differences

• Demo Account: Uses virtual funds; no real profits or losses.
• Live Account: Involves real money; profits and losses are real.

Duration/Expiry of Demo Accounts

Demo accounts may expire after a certain period, usually 30-90 days, but can often be renewed upon request.

hermes market Islamic Account Details

Swap-Free/Islamic Account Availability

Hermes Market offers Islamic accounts that comply with Sharia law, ensuring no interest is charged on overnight positions.

Eligibility Requirements

• Must be a Muslim trader.
• Provide documentation to verify adherence to Islamic finance principles.

Differences from Standard Accounts

Islamic accounts do not incur swap fees, making them suitable for traders who cannot engage in interest-based transactions.

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 restrictions, such as limited access to certain instruments or strategies.

FAQs – hermes market Account Types & Opening

1. What account types does hermes market offer？

• Hermes Market 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 hermes market account verification take？

• Verification typically takes 1-3 business days.

1. Does hermes market offer demo accounts？

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

1. Can I have multiple account types with hermes market？

• Yes, traders can open multiple accounts with different types.

1. Does hermes market offer Islamic/swap-free accounts？

• Yes, Islamic accounts are available for compliant trading.

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

• A valid ID and proof of residence are required.

1. Can I change my account type after registration？

• Yes, you can request an upgrade or downgrade through customer support.