In the world of forex trading, various account types cater to different trading styles and preferences. Heres a breakdown of the available infinite account types:
| Account Type | Minimum Deposit | Spread/Commission Structure | Leverage Options | Key Features | Target User Profile | Trading Instruments Available |
|---|---|---|---|---|---|---|
| Standard | $100 | Variable spreads, no commission | Up to 1:500 | Basic features, suitable for all traders | Beginners to Intermediate | Forex, CFDs, Commodities |
| ECN | $500 | Low spreads + commission | Up to 1:1000 | Direct market access, faster execution | Advanced Traders | Forex, CFDs, Commodities |
| Pro | $1,000 | Tight spreads, low commission | Up to 1:500 | Advanced trading tools, priority support | Professional Traders | Forex, Indices, Commodities |
| Islamic | $100 | Variable spreads, no commission | Up to 1:500 | Swap-free, compliant with Sharia law | Muslim Traders | Forex, CFDs, Commodities |
| Demo | N/A | N/A | N/A | Practice trading without risk | All levels | Forex, CFDs, Commodities |
When selecting an infinite account type, it's essential to compare features across different accounts:
| Feature | Standard Account | ECN Account | Pro Account | Islamic Account | Demo Account |
|---|---|---|---|---|---|
| Minimum Deposit | $100 | $500 | $1,000 | $100 | N/A |
| Maximum Leverage | 1:500 | 1:1000 | 1:500 | 1:500 | N/A |
| Spreads (Typical/Minimum) | Variable | Low | Tight | Variable | N/A |
| Commission Fees | None | Yes | Low | None | N/A |
| Lot Size | Micro/Standard | Micro/Standard | Standard | Micro/Standard | N/A |
| Available Trading Platforms | MT4/MT5 | MT4/MT5 | MT4/MT5 | MT4/MT5 | MT4/MT5 |
| Execution Type | Market | ECN | Market | Market | N/A |
| Islamic Account Availability | No | No | No | Yes | No |
| Swap-Free Options | No | No | No | Yes | No |
| Demo Account Features | No | No | No | No | Yes |
Standard Account:
Low minimum deposit
No commission fees
Suitable for beginners
Access to a variety of trading instruments
ECN Account:
Low spreads
Direct market access
Faster execution speeds
Ideal for high-frequency traders
Pro Account:
Tight spreads
Advanced trading tools
Priority customer support
Suitable for professional traders
Islamic Account:
Compliant with Sharia law
No swap fees
Suitable for Muslim traders
Access to all trading instruments
Demo Account:
Risk-free trading environment
Practice with virtual funds
Access to all trading instruments
Ideal for all trader levels
Standard Account:
Higher spreads compared to ECN
Limited advanced features
ECN Account:
Requires a higher minimum deposit
Commission fees can add up
Pro Account:
Higher minimum deposit requirement
Not suitable for beginners
Islamic Account:
Limited availability
May have fewer features than standard accounts
Demo Account:
No real money trading
Limited to a virtual balance
To open an infinite account, traders must meet specific eligibility criteria:
Issue: Document upload failures.
Solution: Ensure documents are clear and in the correct format.
Issue: Delays in verification.
Solution: Contact customer support for updates.
Demo Account Features and Benefits:
Allows traders to practice without financial risk.
Access to all trading instruments available in live accounts.
How to Open a Demo Account:
Follow the registration process and select the demo account option.
Demo Account Limitations:
Limited to virtual funds.
Virtual Balance Amount:
Typically ranges from $10,000 to $100,000 in virtual funds.
Demo vs Live Account Differences:
Demo accounts do not involve real money; live accounts require actual deposits.
Duration/Expiry of Demo Accounts:
Demo accounts usually remain active for a limited time, often 30 to 90 days.
Swap-Free/Islamic Account Availability:
Yes, Islamic accounts are available for traders who require compliance with Sharia law.
Eligibility Requirements:
Must provide documentation confirming the need for a swap-free account.
Differences from Standard Accounts:
No swap fees; otherwise, features are similar to standard accounts.
How to Apply for Islamic Account:
Select the Islamic account option during registration and submit required documentation.
Restrictions or Special Conditions:
Must comply with Islamic finance principles; no interest-based transactions.
Explore broker markets account types: forex/trading accounts with demo access.