ICX broker Accounts

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

Part 1: icx Account Types Explained

Available Account Types

ICX offers a variety of account types tailored to meet the needs of different traders. Below is a detailed overview of each account type:

1. Standard Account

• Minimum Deposit Requirement: $200
• Spread/Commission Structure: Spreads from 0.8 pips, no commission
• Leverage Options: Up to 1:500
• Key Features: User-friendly interface, suitable for beginners
• Target User Profile: Beginner traders
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

2. Raw Spread Account

• Minimum Deposit Requirement: $200
• Spread/Commission Structure: Spreads from 0.0 pips, commission of $3.5 per lot
• Leverage Options: Up to 1:500
• Key Features: Low spreads, ideal for scalpers and high-frequency traders
• Target User Profile: Intermediate to advanced traders
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

3. ECN Account

• Minimum Deposit Requirement: $200
• Spread/Commission Structure: Spreads from 0.0 pips, commission of $3.0 per lot
• Leverage Options: Up to 1:500
• Key Features: Direct market access, fast execution
• Target User Profile: Advanced traders and institutions
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

4. Islamic Account

• Minimum Deposit Requirement: $200
• Spread/Commission Structure: Similar to Standard or Raw Spread accounts, but swap-free
• Leverage Options: Up to 1:500
• Key Features: Complies with Sharia law, no interest charges
• Target User Profile: Muslim traders
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

5. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds)
• Spread/Commission Structure: Similar to live accounts
• Leverage Options: Up to 1:500
• Key Features: Practice trading without risk, access to all trading instruments
• Target User Profile: New traders and those testing strategies
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginners: Standard Account
• Intermediate Traders: Raw Spread Account
• Advanced Traders: ECN Account
• Muslim Traders: Islamic Account
• Practice Traders: Demo Account

Part 2: Detailed icx Account Features

Account Features Comparison

Advantages and Disadvantages of Each Account Type

• Standard Account

• Advantages: Easy to use, no commission fees, suitable for beginners.

• Disadvantages: Higher spreads compared to ECN accounts.

• Raw Spread Account

• Advantages: Low spreads, suitable for scalping.

• Disadvantages: Commission fees apply.

• ECN Account

• Advantages: Direct market access, low latency execution.

• Disadvantages: Higher commission fees.

• Islamic Account

• Advantages: Complies with Sharia law, no interest fees.

• Disadvantages: Limited availability.

• Demo Account

• Advantages: Risk-free trading, practice strategies.

• Disadvantages: Limited duration and no real profits.

Part 3: icx Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available in most countries; however, specific restrictions may apply based on local regulations.
• Prohibited Countries: Countries under economic sanctions or restrictions may not be eligible.
• Identity Verification Documents Needed: Government-issued ID (passport, driver's license).
• Proof of Residence Requirements: Recent utility bill or bank statement with your name and address.
• Additional Documentation for Professional Accounts: Business registration documents, proof of trading experience.

KYC/AML Compliance Procedures

ICX follows strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. All users must complete identity verification before trading.

Verification Time Frames

Account verification typically takes between 1 to 3 business days, depending on the volume of applications.

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

Registration Process

1. Visit Website and Click Registration: Go to the ICX website and select the "Open Account" option.
2. Personal Information Entry: Fill in personal details such as name, email, and phone number.
3. Choose Account Type: Select the desired account type from the options available.
4. Set Trading Preferences: Indicate your trading preferences, including leverage and trading platform.
5. Document Upload: Upload the required identity verification documents.
6. Account Verification: Wait for the verification process to be completed.
7. Fund Your Account: Deposit the minimum required amount to start trading.
8. Start Trading: Access your trading platform and begin trading.

Desktop vs Mobile Registration Differences

The registration process is similar on both desktop and mobile platforms, with mobile registration offering a more streamlined experience.

Common Registration Issues and Solutions

• Issue: Document upload failure.
• Solution: Ensure documents are clear and in the correct format (JPEG, PNG, PDF).
• Issue: Verification delays.
• Solution: Contact customer support for assistance.

Average Account Approval Time

Typically, account approval takes 1 to 3 business days.

How to Upgrade/Downgrade Account Types

Users can contact customer support to request an upgrade or downgrade of their account type, subject to the new account type's requirements.

Part 5: icx Demo Account Guide

Demo Account Features and Benefits

• Features: Access to all trading instruments, similar trading environment to live accounts.
• Benefits: Allows traders to practice strategies without financial risk.

How to Open a Demo Account

To open a demo account, select the "Demo Account" option during registration and follow the prompts.

Demo Account Limitations

Demo accounts may have a limited duration and do not allow for real profits.

Virtual Balance Amount

Demo accounts typically come with a virtual balance of $100,000.

Demo vs Live Account Differences

Demo accounts use virtual funds, while live accounts involve real money and actual trading conditions.

Duration/Expiry of Demo Accounts

Demo accounts usually expire after 30 days of inactivity.

Part 6: icx Islamic Account Details

Swap-Free/Islamic Account Availability

ICX offers Islamic accounts that comply with Sharia law, ensuring no interest is charged.

Eligibility Requirements

To qualify for an Islamic account, users must provide proof of their Muslim faith.

Differences from Standard Accounts

Islamic accounts have the same features as standard accounts but are swap-free.

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, such as restrictions on certain trading strategies.

FAQs – icx Account Types & Opening

1. What account types does icx offer？

• ICX offers Standard, Raw Spread, ECN, Islamic, and Demo accounts.

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

• The minimum deposit for all account types is $200, except for the Demo account which requires no deposit.

1. How long does icx account verification take？

• Account verification typically takes 1 to 3 business days.

1. Does icx offer demo accounts？

• Yes, ICX offers demo accounts for practice trading.

1. Can I have multiple account types with icx？

• Yes, users can have multiple account types, but they need to comply with the requirements for each.

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

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

1. What documents do I need to open a icx 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 change your account type through customer support.