When considering forex trading, understanding the various immediate account types is crucial for aligning your trading strategy with your financial goals. Here are the primary account types offered:
1. Standard Account
- Minimum Deposit Requirement: $100
- Spread/Commission Structure: Variable spreads starting from 1.0 pips
- Leverage Options: Up to 1:500
- Key Features: Access to all trading instruments, including forex, commodities, and indices; suitable for beginners.
- Target User Profile: Beginners and casual traders.
- Trading Instruments Available: Forex pairs, commodities, indices.
2. ECN Account
- Minimum Deposit Requirement: $500
- Spread/Commission Structure: Raw spreads starting from 0.0 pips plus a commission of $5 per lot.
- Leverage Options: Up to 1:200
- Key Features: Direct market access, lower spreads, and faster execution; ideal for high-frequency traders.
- Target User Profile: Advanced and professional traders.
- Trading Instruments Available: Forex pairs, commodities, indices, cryptocurrencies.
3. Pro Account
- Minimum Deposit Requirement: $1,000
- Spread/Commission Structure: Competitive spreads with lower commissions than Standard accounts.
- Leverage Options: Up to 1:300
- Key Features: Enhanced trading conditions, priority customer support, and access to premium trading tools.
- Target User Profile: Experienced traders and institutions.
- Trading Instruments Available: Forex pairs, commodities, indices, and more.
4. Islamic Account
- Minimum Deposit Requirement: $100
- Spread/Commission Structure: Similar to the Standard account but swap-free.
- Leverage Options: Up to 1:500
- Key Features: Complies with Sharia law by not charging or paying interest on overnight positions.
- Target User Profile: Muslim traders seeking compliant trading options.
- Trading Instruments Available: Forex pairs, commodities, indices.
5. Demo Account
- Minimum Deposit Requirement: Virtual funds (typically $10,000)
- Spread/Commission Structure: Similar to the Standard account.
- Leverage Options: Up to 1:500
- Key Features: Allows traders to practice without financial risk; access to all trading instruments.
- Target User Profile: Beginners and those testing new strategies.
- Trading Instruments Available: Forex pairs, 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
Feature Comparison Across Different Account Types
Advantages of Each Account Type
- Standard Account: Easy to access, suitable for beginners, no commission fees.
- ECN Account: Lower spreads, faster execution, ideal for scalping strategies.
- Pro Account: Enhanced trading conditions, priority support, suitable for serious traders.
- Islamic Account: Compliant with Sharia law, no overnight interest charges.
- Demo Account: Risk-free environment for practice, access to all features.
Disadvantages of Each Account Type
- Standard Account: Higher spreads compared to ECN accounts.
- ECN Account: Requires a higher minimum deposit, commission fees apply.
- Pro Account: Higher minimum deposit, may not be suitable for casual traders.
- Islamic Account: Limited to specific trading conditions, fewer available instruments.
- Demo Account: No real money involved, may not accurately reflect live trading conditions.
Eligibility Criteria
- Age Requirements: Must be at least 18 years old.
- Geographic Restrictions: Availability may vary by country; check with immediate for specific restrictions.
- Prohibited Countries: Residents of certain jurisdictions may be restricted from opening accounts.
- Identity Verification Documents Needed: Government-issued ID (passport, driver's license).
- Proof of Residence Requirements: Utility bill or bank statement showing the current address.
- Additional Documentation for Professional Accounts: May require proof of trading experience or financial status.
KYC/AML Compliance Procedures
- All applicants must undergo Know Your Customer (KYC) and Anti-Money Laundering (AML) checks to prevent fraud and ensure compliance with financial regulations.
Verification Time Frames
- Account verification typically takes between 1 to 3 business days, depending on the completeness of the submitted documentation.
Registration Process
- Visit Website and Click Registration: Go to the immediate website and find the account registration section.
- Personal Information Entry: Fill in your personal details, including name, email, and phone number.
- Choose Account Type: Select the type of account you wish to open (Standard, ECN, Pro, Islamic, or Demo).
- Set Trading Preferences: Indicate your preferred trading settings and leverage options.
- Document Upload: Upload required identification and proof of residence documents.
- Account Verification: Wait for the verification process to be completed.
- Fund Your Account: Deposit the minimum required amount to activate your account.
- Start Trading: Once your account is funded and verified, you can begin trading.
Desktop vs Mobile Registration Differences
- The registration process is similar on both desktop and mobile platforms, though mobile may offer a more streamlined experience.
Common Registration Issues and Solutions
- Issue: Document rejection due to poor quality.
- Solution: Ensure all documents are clear and legible before uploading.
- Issue: Delays in verification.
- Solution: Contact customer support for assistance.
Average Account Approval Time
- The average approval time is 1 to 3 business days, depending on the completeness of the application.
How to Upgrade/Downgrade Account Types
- Contact customer support or use the account management section on the website to request changes to your account type.
Demo Account Features and Benefits
- Provides a risk-free environment to practice trading strategies.
- Access to all trading instruments and features available in live accounts.
How to Open a Demo Account
- Visit the immediate website, navigate to the demo account section, and fill out the registration form.
Demo Account Limitations
- Limited to virtual funds; no real profits can be made.
- May not reflect actual market conditions perfectly.
Virtual Balance Amount
- Typically set at $10,000 in virtual funds for practice.
Demo vs Live Account Differences
- Demo accounts use virtual funds, while live accounts involve real money and market conditions.
Duration/Expiry of Demo Accounts
- Demo accounts usually remain active for a specified period, often 30 to 90 days, after which they may expire unless reactivated.
Swap-Free/Islamic Account Availability
- Islamic accounts are available and comply with Sharia law by not charging or paying interest on overnight positions.
Eligibility Requirements
- Must meet the same age and identity verification requirements as standard accounts.
Differences from Standard Accounts
- Islamic accounts do not incur swap fees, making them suitable for Muslim traders.
How to Apply for Islamic Account
- Select the Islamic account option during the registration process and provide necessary documentation.
Restrictions or Special Conditions
- May have specific trading conditions or limitations on certain instruments.
- What account types does immediate offer?
- immediate offers Standard, ECN, Pro, Islamic, and Demo accounts.
- What is the minimum deposit for each account type?
- Standard: $100, ECN: $500, Pro: $1,000, Islamic: $100, Demo: Virtual funds.
- How long does immediate account verification take?
- Verification typically takes 1 to 3 business days.
- Does immediate offer demo accounts?
- Yes, immediate provides demo accounts for practice trading.
- Can I have multiple account types with immediate?
- Yes, you can open multiple account types as per your trading needs.
- Does immediate offer Islamic/swap-free accounts?
- Yes, immediate provides Islamic accounts that comply with Sharia law.
- What documents do I need to open a immediate account?
- A government-issued ID and proof of residence are required.
- Can I change my account type after registration?
- Yes, you can request to upgrade or downgrade your account type through customer support.
Immediate accounts can be viewed for products that can be traded accounts with a minimum deposit of by (2+) .