Rating Index
Pros
Offers a variety of account types catering to different trading levels, including a swap-free option for Islamic clients.
Provides access to the popular MT4 trading platform, which is user-friendly and supports automated trading.
No commissions or fees on deposits and withdrawals, making it cost-effective for traders.
Cons
Regulated by the Vanuatu Financial Services Commission, which is considered less stringent compared to other regulatory bodies.
Spreads on major currency pairs, such as 2 pips for EUR/USD, may be higher than the industry average.
Limited information regarding withdrawal processing times and potential fees, which can create uncertainty for clients.
JMI broker Accounts
JMI Brokers Account Type
JMI Brokers offers three main types of live trading accounts, catering to different levels of trading experience and capital requirements:
- Micro Account:
- Minimum Deposit: $100
- Leverage: Up to 1:400
- Spreads: Approximately 2 pips on major currency pairs
- Suitable for: Beginners or those with limited funds.
- Standard Account:
- Minimum Deposit: $500
- Leverage: Up to 1:200
- Spreads: Approximately 2 pips on major currency pairs
- Suitable for: Intermediate traders seeking a broader range of features.
- Pro Account:
- Minimum Deposit: $50,000
- Leverage: Up to 1:100
- Spreads: Competitive spreads with enhanced trading conditions
- Suitable for: Experienced and high-volume traders.
- Complete the Application:
- Fill out the online application form available on the JMI Brokers website.
- Submit Required Documents:
- Download and sign the customer account agreement.
- Provide a clear copy of your valid passport and a utility bill as proof of residence.
- Send the required documents via fax (+971 26594 258) or email (support@jmibrokers.com).
- Account Verification:
- JMI Brokers' compliance department will review and validate your application, which typically takes about 2 business days for individual accounts.
- Account Setup:
- Once approved, you will receive your account number and wiring instructions to fund your account.
- Fund Your Account:
- Wire the required funds to the designated bank account. Note that third-party transfers are not accepted.
- Start Trading:
- Your trading account will be credited once the wire transfer is processed, allowing you to begin trading.
JMI Brokers Account Opening Process
To open an account with JMI Brokers, follow these steps:
For more detailed information, you can visit the official website: JMI Brokers.
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