LGFEX broker Accounts

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

Part 1: lgfex Account Types Explained

Available Account Types

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: User-friendly interface, suitable for beginners
• Target User Profile: Beginners and casual traders
• Trading Instruments Available: Forex, commodities, indices

1. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Raw spreads starting from 0.0 pips + commission
• Leverage Options: Up to 1:200
• Key Features: Direct market access, lower spreads
• Target User Profile: Experienced traders and scalpers
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

1. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Fixed spreads starting from 1.5 pips
• Leverage Options: Up to 1:100
• Key Features: Advanced trading tools, priority customer support
• Target User Profile: Professional traders and institutions
• Trading Instruments Available: Forex, commodities, indices, stocks

1. Islamic Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Similar to Standard Account
• Leverage Options: Up to 1:500
• Key Features: Swap-free trading compliant with Islamic law
• Target User Profile: Muslim traders
• Trading Instruments Available: Forex, commodities, indices

1. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds)
• Spread/Commission Structure: Similar to Standard Account
• Leverage Options: Up to 1:500
• Key Features: Risk-free environment for practice trading
• Target User Profile: Beginners and traders testing strategies
• Trading Instruments Available: Forex, commodities, indices

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginners: Standard Account, Demo Account
• Intermediate Traders: ECN Account
• Advanced Traders: Pro Account
• Muslim Traders: Islamic Account

Part 2: lgfex Account Features Comparison

Detailed lgfex Account Features

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $100

• Demo: N/A

• Maximum Leverage:

• Standard: 1:500

• ECN: 1:200

• Pro: 1:100

• Islamic: 1:500

• Spreads:

• Standard: Variable from 1.0 pips

• ECN: Raw from 0.0 pips + commission

• Pro: Fixed from 1.5 pips

• Islamic: Similar to Standard

• Commission Fees:

• Standard: None

• ECN: Commission applies

• Pro: None

• Islamic: None

• Lot Size:

• Standard: Micro, Mini, Standard

• ECN: Micro, Mini, Standard

• Pro: Micro, Mini, Standard

• Islamic: Micro, Mini, Standard

• Available Trading Platforms:

• Standard: MT4, MT5

• ECN: MT4, MT5

• Pro: MT4, MT5

• Islamic: MT4, MT5

• Demo: MT4, MT5

• Execution Type:

• Standard: Market

• ECN: ECN

• Pro: Instant

• Islamic: Market

• Islamic Account Availability:

• Available for Standard and Islamic accounts.

• Swap-Free Options:

• Available for Islamic accounts.

• Demo Account Features:

• Virtual balance, risk-free trading environment.

Advantages and Disadvantages of Each Account Type

Standard Account

• Advantages:

• Low minimum deposit

• User-friendly interface

• Access to a wide range of instruments

• No commission fees

• Disadvantages:

• Higher spreads compared to ECN

• Limited advanced features

ECN Account

• Advantages:

• Raw spreads

• Direct market access

• Ideal for scalping

• Lower trading costs

• Disadvantages:

• Higher minimum deposit

• Commission fees apply

Pro Account

• Advantages:

• Fixed spreads

• Advanced trading tools

• Priority support

• Suitable for high-volume trading

• Disadvantages:

• Higher minimum deposit

• Lower leverage

Islamic Account

• Advantages:

• Compliant with Islamic law

• Similar features to Standard Account

• No swap fees

• Disadvantages:

• Limited to specific trading instruments

Demo Account

• Advantages:

• Risk-free trading

• Practice with virtual funds

• Access to all trading features

• Disadvantages:

• No real profits

• Limited duration

Part 3: lgfex Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents of most countries, but may be restricted in certain regions.
• Prohibited Countries: Specific countries may be restricted; check lgfex's website for the latest list.
• Identity Verification Documents Needed:
• Government-issued ID (passport, driver's license)
• Proof of address (utility bill, bank statement)
• Proof of Residence Requirements: Must provide a document showing current address.
• Additional Documentation for Professional Accounts: May require financial statements or proof of trading experience.

KYC/AML Compliance Procedures

• All applicants must undergo Know Your Customer (KYC) and Anti-Money Laundering (AML) checks.
• Verification may include background checks and document validation.

Verification Time Frames

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

Part 4: lgfex Account Opening Process

Step-by-Step lgfex Account Opening Guide

1. Visit Website: Go to the official lgfex website.
2. Click Registration: Locate and click on the registration button.
3. Personal Information Entry: Fill in required personal details (name, email, phone).
4. Choose Account Type: Select the desired account type from the options available.
5. Set Trading Preferences: Specify trading preferences and leverage.
6. Document Upload: Upload necessary identification and proof of residence documents.
7. Account Verification: Wait for account verification to be completed.
8. Fund Your Account: Deposit funds to activate your trading account.
9. Start Trading: Access the trading platform and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile, but mobile may have a simplified interface.

Common Registration Issues and Solutions

• Issue: Document upload fails.
• Solution: Ensure documents are in the correct format and within size limits.
• 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

• Log into your account and navigate to the account settings to request an upgrade or downgrade.

Part 5: lgfex Demo Account Guide

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

• Follow the same registration process but select the demo account option.

Demo Account Limitations

• Limited duration (usually 30 days).
• Virtual funds only; no real profits can be made.

Virtual Balance Amount

• Typically, demo accounts come with a virtual balance of $100,000.

Demo vs Live Account Differences

• Demo accounts use virtual funds, while live accounts involve real money trading.

Duration/Expiry of Demo Accounts

• Demo accounts usually expire after 30 days but may be extended upon request.

Part 6: lgfex Islamic Account Details

Swap-Free/Islamic Account Availability

• Islamic accounts are available for traders who require swap-free trading.

Eligibility Requirements

• Must provide documentation confirming adherence to Islamic finance principles.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, making them compliant with Islamic law.

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; check with lgfex for details.

FAQs – lgfex Account Types & Opening

1. What account types does lgfex offer？

• lgfex offers Standard, ECN, Pro, Islamic, and Demo accounts.

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

• Standard: $100, ECN: $500, Pro: $1,000, Islamic: $100, Demo: N/A.

1. How long does lgfex account verification take？

• Verification typically takes 1-3 business days.

1. Does lgfex offer demo accounts？

• Yes, lgfex offers demo accounts for practice trading.

1. Can I have multiple account types with lgfex？

• Yes, traders can open multiple accounts of different types.

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

• Yes, lgfex provides Islamic accounts that are swap-free.

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

• A government-issued ID and proof of residence are required.

1. Can I change my account type after registration？

• Yes, account types can be upgraded or downgraded through account settings.