LCM broker Accounts

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

Part 1: lcm Account Types Overview

lcm Account Types Explained

LCM offers several account types tailored to different trading needs and experience levels. Below is a detailed overview of each account type:

1. Standard Account

• Minimum Deposit: $100
• Spread/Commission Structure: From 1.8 pips, no commission
• Leverage Options: Up to 1:500 for currency, 1:50 for metals
• Key Features: Instant market execution, suitable for beginners
• Target User Profile: Beginners and casual traders
• Trading Instruments Available: Forex, commodities, indices

1. Pro Account

• Minimum Deposit: $1,000
• Spread/Commission Structure: From 0.9 pips, no commission
• Leverage Options: Up to 1:500 for currency, 1:50 for metals
• Key Features: Instant market execution, higher lot limits
• Target User Profile: Experienced traders and professionals
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

1. Islamic Account

• Minimum Deposit: $100
• Spread/Commission Structure: Similar to Standard Account, no swaps
• Leverage Options: Up to 1:500 for currency, 1:50 for metals
• Key Features: Swap-free, compliant with Islamic finance principles
• Target User Profile: Traders seeking Sharia-compliant trading options
• Trading Instruments Available: Forex, commodities, indices

1. Demo Account

• Minimum Deposit: Virtual balance (usually $10,000)
• Spread/Commission Structure: Same as Standard Account
• Leverage Options: Same as Standard Account
• Key Features: Risk-free trading environment, practice strategies
• Target User Profile: New traders and those testing strategies
• Trading Instruments Available: Forex, commodities, indices

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginners: Standard Account
• Intermediate Traders: Pro Account
• Islamic Finance Traders: Islamic Account
• Practice Traders: Demo Account

Part 2: lcm Account Features Comparison

Detailed lcm Account Features

Feature Comparison

• Minimum Deposit:

• Standard: $100

• Pro: $1,000

• Islamic: $100

• Demo: Virtual balance

• Maximum Leverage:

• All accounts: Up to 1:500 for currency, 1:50 for metals

• Spreads (Typical/Minimum):

• Standard: From 1.8 pips

• Pro: From 0.9 pips

• Commission Fees:

• All accounts: None

• Lot Size:

• Standard: Minimum 0.01 lots

• Pro: Minimum 0.01 lots, maximum 100 lots

• Available Trading Platforms:

• All accounts: MT4, MT5

• Execution Type:

• All accounts: Instant execution

• Islamic Account Availability:

• Yes, available for Standard and Islamic accounts

• Swap-Free Options:

• Available for Islamic accounts

• Demo Account Features:

• Virtual trading environment, same spreads as Standard Account

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit

• Suitable for beginners

• Access to a wide range of instruments

• Pro Account:

• Lower spreads

• Higher trading limits

• Ideal for professional traders

• Islamic Account:

• Complies with Sharia law

• No swap fees

• Suitable for Muslim traders

• Demo Account:

• Risk-free environment

• Practice trading strategies

• Familiarize with the trading platform

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to Pro Account

• Limited features for advanced trading

• Pro Account:

• Higher minimum deposit requirement

• May not suit beginners

• Islamic Account:

• Limited to specific trading strategies

• May have restrictions on certain instruments

• Demo Account:

• Virtual funds may not reflect real trading conditions

• Limited duration before expiration

Part 3: lcm Account Opening Requirements

lcm Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: LCM does not open accounts for residents of certain restricted countries.
• Prohibited Countries: Specific countries may be restricted due to regulatory compliance (e.g., OFAC sanctioned countries).
• Identity Verification Documents Needed: Valid government-issued ID (passport, driver's license).
• Proof of Residence Requirements: Recent utility bill or bank statement showing name and address.
• Additional Documentation for Professional Accounts: May require financial statements or proof of trading experience.

KYC/AML Compliance Procedures

• LCM adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring verification of identity and residence.

Verification Time Frames

• Account verification typically takes 1-3 business days, depending on the completeness of submitted documents.

Part 4: lcm Account Opening Process

Step-by-Step lcm Account Opening Guide

1. Visit Website and Click Registration: Go to the LCM website and select the 'Register' 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 (Standard, Pro, Islamic, or Demo).
4. Set Trading Preferences: Specify trading preferences, including leverage and trading instruments.
5. Document Upload: Upload required identity verification and proof of residence documents.
6. Account Verification: Wait for account verification, which may take 1-3 business days.
7. Fund Your Account: Deposit the minimum required amount to activate your account.
8. Start Trading: Once verified and funded, you can start trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, though mobile may have a more streamlined interface.

Common Registration Issues and Solutions

• Issue: Document upload fails.

• 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

• Typically, account approval takes 1-3 business days.

How to Upgrade/Downgrade Account Types

• Account types can be changed by submitting a request through the customer support portal or directly via the trading platform.

Part 5: lcm Demo Account Information

lcm Demo Account Guide

Demo Account Features and Benefits

• Provides a risk-free environment to practice trading.
• Allows users to familiarize themselves with the trading platform and tools.

How to Open a Demo Account

• Select the 'Demo Account' option during the registration process and follow the prompts.

Demo Account Limitations

• Limited to virtual funds, which do not reflect real trading conditions.
• May have an expiration date (typically 30 days).

Virtual Balance Amount

• Usually set at $10,000 in virtual funds.

Demo vs Live Account Differences

• Demo accounts use virtual funds and do not involve real money, while live accounts require actual deposits and trades.

Duration/Expiry of Demo Accounts

• Demo accounts typically expire after 30 days unless extended by the broker.

Part 6: lcm Islamic Account (if available)

lcm Islamic Account Details

Swap-Free/Islamic Account Availability

• LCM offers Islamic accounts that comply with Sharia law, allowing trading without swap fees.

Eligibility Requirements

• Must provide documentation to confirm adherence to Islamic finance principles.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees and may have specific trading conditions.

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 limitations on certain trading strategies or instruments.

FAQs – lcm Account Types & Opening

1. What account types does lcm offer？

• LCM offers Standard, Pro, Islamic, and Demo accounts.

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

• Standard: $100, Pro: $1,000, Islamic: $100, Demo: Virtual balance.

1. How long does lcm account verification take？

• Verification typically takes 1-3 business days.

1. Does lcm offer demo accounts？

• Yes, LCM provides demo accounts for practice trading.

1. Can I have multiple account types with lcm？

• Yes, traders can hold multiple account types.

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

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

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

• A valid ID and proof of residence are required.

1. Can I change my account type after registration？

• Yes, account types can be upgraded or downgraded upon request.