IBA broker Accounts

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

iba Account Types Explained

The iba (International Bank Account) offers several account types tailored to meet the diverse needs of traders. Below is a comprehensive overview of the available account types:

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: Basic trading tools, access to major currency pairs.
• Target User Profile: Beginners and casual traders.
• Trading Instruments Available: Forex, commodities, indices.

2. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Raw spreads starting from 0.0 pips with a commission of $5 per lot.
• Leverage Options: Up to 1:200.
• Key Features: Direct market access, lower spreads, faster execution.
• Target User Profile: Experienced traders and scalpers.
• Trading Instruments Available: Forex, commodities, cryptocurrencies.

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Variable spreads starting from 0.5 pips, commission of $3 per lot.
• Leverage Options: Up to 1:400.
• Key Features: Advanced trading tools, priority customer support.
• Target User Profile: Professional traders and institutions.
• Trading Instruments Available: Forex, indices, stocks.

4. Islamic Account

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

5. Demo Account

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

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Detailed iba Account Features

Comparison of Features Across Different Account Types

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit.

• No commission fees.

• Suitable for beginners.

• ECN Account:

• Tight spreads.

• Direct market access.

• Ideal for high-frequency trading.

• Pro Account:

• Advanced trading tools.

• Priority support.

• Suitable for institutional traders.

• Islamic Account:

• Complies with Sharia law.

• No interest fees.

• Accessible to Muslim traders.

• Demo Account:

• Risk-free trading environment.

• Practice strategies.

• Access to all trading instruments.

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN.

• ECN Account:

• Requires a higher minimum deposit.

• Commission fees may reduce profitability.

• Pro Account:

• High minimum deposit.

• More suited for experienced traders.

• Islamic Account:

• Limited to specific trading conditions.

• Demo Account:

• No real money involved.

• Limited duration before expiry.

iba Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available in most countries; specific restrictions may apply.
• Prohibited Countries: Countries under international sanctions may be restricted.
• Identity Verification Documents Needed: Government-issued ID (passport, national ID).
• Proof of Residence Requirements: Utility bill or bank statement dated within the last three months.
• Additional Documentation for Professional Accounts: Business registration documents for corporate accounts.

KYC/AML Compliance Procedures

• Complete the Know Your Customer (KYC) verification process.
• Submit required documents for Anti-Money Laundering (AML) compliance.

Verification Time Frames

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

Step-by-Step iba Account Opening Guide

Detailed Registration Process

1. Visit Website: Go to the iba official website.
2. Click Registration: Locate and click on the "Register" 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 (Standard, ECN, Pro, Islamic, or Demo).
5. Set Trading Preferences: Indicate trading preferences and leverage options.
6. Document Upload: Upload required identity verification and proof of residence documents.
7. Account Verification: Wait for the verification process to complete.
8. Fund Your Account: Deposit the minimum required amount to activate your account.
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, but mobile may offer a more streamlined experience.

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

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

How to Upgrade/Downgrade Account Types

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

iba Demo Account Guide

Demo Account Features and Benefits

• Access to all trading instruments.
• No financial risk involved.
• Practice trading strategies in a real-market environment.

How to Open a Demo Account

• Follow the same registration steps as for a live account, selecting "Demo Account" in step 4.

Demo Account Limitations

• Limited duration (usually 30-90 days).
• Virtual balance may not reflect real market conditions.

Virtual Balance Amount

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

Demo vs Live Account Differences

• Demo accounts use virtual funds, while live accounts require real money deposits.

Duration/Expiry of Demo Accounts

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

iba Islamic Account Details

Swap-Free/Islamic Account Availability

• iba offers Islamic accounts that comply with Sharia law.

Eligibility Requirements

• Must be a Muslim trader.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees.

How to Apply for Islamic Account

• Select "Islamic Account" during the registration process.

Restrictions or Special Conditions

• Must adhere to Islamic trading principles.

FAQs – iba Account Types & Opening

1. What account types does iba offer？

• iba 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: Virtual balance.

1. How long does iba account verification take？

• Verification typically takes 1-3 business days.

1. Does iba offer demo accounts？

• Yes, iba provides demo accounts for practice trading.

1. Can I have multiple account types with iba？

• Yes, you can open multiple account types.

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

• Yes, iba offers Islamic accounts that are swap-free.

1. What documents do I need to open a iba 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 through your account settings.