ICICI Direct broker Accounts

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

i sec Account Types Explained

i sec offers a variety of account types tailored to meet the needs of different traders. Below is a detailed 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: User-friendly interface, access to a wide range of trading instruments.
• 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; commission of $3.5 per lot.
• Leverage Options: Up to 1:200.
• Key Features: Direct market access, lower spreads, and faster execution.
• Target User Profile: Intermediate to advanced traders.
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies.

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Variable spreads starting from 0.5 pips; commission of $2.0 per lot.
• Leverage Options: Up to 1:300.
• Key Features: Enhanced trading conditions, priority customer support.
• Target User Profile: Professional traders and institutional clients.
• Trading Instruments Available: Forex, commodities, indices, stocks.

4. Islamic Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Similar to the Standard or ECN accounts but swap-free.
• Leverage Options: Up to 1:200.
• Key Features: No swap fees, compliant with Sharia law.
• Target User Profile: Muslim traders seeking a compliant trading account.
• Trading Instruments Available: Forex, commodities, indices.

5. Demo Account

• Minimum Deposit Requirement: Virtual balance (typically $10,000).
• Spread/Commission Structure: Same as Standard Account.
• Leverage Options: Same as Standard Account.
• Key Features: Risk-free trading environment, practice with virtual funds.
• Target User Profile: Beginners and traders looking to test strategies.
• Trading Instruments Available: Same as Standard Account.

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 i sec Account Features

Feature Comparison Across Different Account Types

Advantages of Each Account Type

• Standard Account:
• User-friendly interface.
• No commission fees.
• Suitable for beginners.
• ECN Account:
• Direct market access.
• Lower spreads.
• Faster execution speeds.
• Pro Account:
• Enhanced trading conditions.
• Lower commission fees.
• Priority customer support.
• Islamic Account:
• Compliant with Sharia law.
• No swap fees.
• Demo Account:
• Risk-free trading environment.
• Practice with virtual funds.

Disadvantages of Each Account Type

• Standard Account:
• Higher spreads compared to ECN.
• ECN Account:
• Requires a higher minimum deposit.
• Commission fees apply.
• Pro Account:
• Higher minimum deposit requirement.
• Commission fees apply.
• Islamic Account:
• Limited to Muslim traders.
• Demo Account:
• Virtual funds may not reflect real market conditions.

i sec Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents of most countries; check specific restrictions.
• Prohibited Countries: Countries under international sanctions may be restricted.
• Identity Verification Documents Needed: Government-issued ID (passport or driver's license).
• Proof of Residence Requirements: Utility bill or bank statement with your name and address.
• Additional Documentation for Professional Accounts: Proof of trading experience or financial statements may be required.

KYC/AML Compliance Procedures

• Complete the Know Your Customer (KYC) process by submitting required documents.
• Anti-Money Laundering (AML) checks will be performed during the verification process.

Verification Time Frames

• Account verification typically takes 1-3 business days.

Step-by-Step i sec Account Opening Guide

Detailed Registration Process

1. Visit Website and Click Registration: Go to the i sec website and click on the registration link.
2. Personal Information Entry: Fill in your personal details including name, email, and phone number.
3. Choose Account Type: Select the account type that best suits your trading needs.
4. Set Trading Preferences: Specify your trading preferences, including leverage and trading instruments.
5. Document Upload: Upload the required identity verification documents.
6. Account Verification: Wait for the verification process to complete.
7. Fund Your Account: Deposit the minimum required amount to activate your trading account.
8. Start Trading: Once your account is funded, you can begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, though the mobile interface may be optimized for smaller screens.

Common Registration Issues and Solutions

• Issue: Document upload failure.

  Solution: Ensure documents are clear and in the correct format (PDF/JPEG).

• Issue: Verification delays.

  Solution: Contact customer support for assistance.

Average Account Approval Time

• The average account approval time is 1-3 business days, depending on the completeness of submitted documents.

How to Upgrade/Downgrade Account Types

• Contact customer support to request an upgrade or downgrade of your account type.

i sec Demo Account Guide

Demo Account Features and Benefits

• Features: Access to the same trading platform and instruments as live accounts.
• Benefits: Practice trading strategies without financial risk.

How to Open a Demo Account

• Follow the same registration process as for a live account, selecting "Demo Account" as the account type.

Demo Account Limitations

• Limited to virtual funds, which may not accurately reflect real market conditions.

Virtual Balance Amount

• Typically, demo accounts come with a virtual balance of $10,000.

Demo vs Live Account Differences

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

Duration/Expiry of Demo Accounts

• Demo accounts may expire after a set period (e.g., 30 days) unless extended.

i sec Islamic Account Details

Swap-Free/Islamic Account Availability

• i sec offers Islamic accounts that comply with Sharia law, meaning no swap fees are charged.

Eligibility Requirements

• Must be a Muslim trader seeking a compliant trading account.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, which can be beneficial for long-term 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 with customer support for details.

FAQs – i sec Account Types & Opening

1. What account types does i sec offer？

• i sec 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: $500, Demo: Virtual balance.

1. How long does i sec account verification take？

• Verification typically takes 1-3 business days.

1. Does i sec offer demo accounts？

• Yes, i sec provides demo accounts for practice trading.

1. Can I have multiple account types with i sec？

• Yes, traders can open multiple account types.

1. Does i sec offer Islamic/swap-free accounts？

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

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

• A government-issued 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.