Libord broker Accounts

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

Part 1: libord Account Types Explained

Libord offers several account types tailored to different trading needs. Below is an overview of the available account types, their features, and target user profiles.

Available Account Types

1. Standard Account

• Minimum Deposit: ₹5,000
• Spread/Commission Structure: Variable spreads starting from 2 pips; no commission.
• Leverage Options: Up to 1:100.
• Key Features: Ideal for beginners; access to all trading instruments.
• Target User Profile: Beginners and casual traders.
• Trading Instruments Available: Forex, commodities, stocks.

1. ECN Account

• Minimum Deposit: ₹10,000
• Spread/Commission Structure: Tight spreads from 0.1 pips; commission of ₹20 per lot.
• Leverage Options: Up to 1:200.
• Key Features: Direct market access; suitable for high-frequency trading.
• Target User Profile: Advanced traders and scalpers.
• Trading Instruments Available: Forex, commodities, indices.

1. Pro Account

• Minimum Deposit: ₹25,000
• Spread/Commission Structure: Variable spreads starting from 1 pip; commission of ₹10 per lot.
• Leverage Options: Up to 1:300.
• Key Features: Enhanced trading conditions; priority execution.
• Target User Profile: Professional traders.
• Trading Instruments Available: Forex, commodities, stocks, indices.

1. Islamic Account

• Minimum Deposit: ₹5,000
• Spread/Commission Structure: Similar to Standard Account; no swap fees.
• Leverage Options: Up to 1:100.
• Key Features: Complies with Sharia law; swap-free trading.
• Target User Profile: Muslim traders.
• Trading Instruments Available: Forex, commodities, stocks.

1. Demo Account

• Minimum Deposit: Virtual balance of ₹1,000,000.
• Spread/Commission Structure: Same as Standard Account.
• Leverage Options: Same as Standard Account.
• Key Features: Risk-free environment to practice trading.
• Target User Profile: Beginners and traders testing strategies.
• Trading Instruments Available: Forex, commodities, stocks.

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Part 2: Detailed libord Account Features

Feature Comparison Across Different Account Types

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit.

• User-friendly for beginners.

• Access to a wide range of instruments.

• ECN Account:

• Tight spreads for cost-effective trading.

• Direct market access enhances execution speed.

• Suitable for high-frequency traders.

• Pro Account:

• Lower commission fees for frequent traders.

• Enhanced trading conditions.

• Priority execution improves trading efficiency.

• Islamic Account:

• Complies with Sharia law.

• No swap fees.

• Suitable for Muslim traders.

• Demo Account:

• Risk-free environment for practice.

• Unlimited virtual balance for extensive testing.

• Ideal for strategy development.

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN accounts.

• Limited features for advanced trading.

• ECN Account:

• Higher minimum deposit required.

• Commission fees may add to trading costs.

• Pro Account:

• High minimum deposit may not be accessible for all.

• Commission fees can accumulate quickly.

• Islamic Account:

• Limited to Muslim traders.

• May not offer all features of standard accounts.

• Demo Account:

• No real money involved, limiting emotional trading experience.

• Time-limited access may restrict practice duration.

Part 3: libord Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents of India and select countries.
• Prohibited Countries: Specific countries may be restricted due to regulatory compliance (not specified in sources).

Identity Verification Documents Needed

• Government-issued ID (Aadhaar card, passport, etc.)
• Recent passport-sized photograph.

Proof of Residence Requirements

• Utility bill or bank statement showing the applicant's name and address.

Additional Documentation for Professional Accounts

• Business registration documents (if applicable).
• Financial statements may be required for high-net-worth individuals.

KYC/AML Compliance Procedures

• Completion of Know Your Customer (KYC) forms.
• Anti-Money Laundering (AML) checks are performed during the registration process.

Verification Time Frames

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

Part 4: Step-by-Step libord Account Opening Guide

Registration Process

1. Visit Website: Go to the official Libord website.
2. Click Registration: Locate and click on the “Open Account” button.
3. Personal Information Entry: Fill in personal details such as name, email, and phone number.
4. Choose Account Type: Select the desired account type from the available options.
5. Set Trading Preferences: Specify trading preferences, including leverage and trading instruments.
6. Document Upload: Upload the required identity verification and proof of residence documents.
7. Account Verification: Wait for the account to be verified by Libord's compliance team.
8. Fund Your Account: Deposit the minimum required amount 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 platforms, with mobile offering a more streamlined experience through the app.

Common Registration Issues and Solutions

• Issue: Document upload failure.

• Solution: Ensure documents are in the correct format and size.

• Issue: Verification delays.

• Solution: Contact customer support for updates on the verification status.

Average Account Approval Time

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

How to Upgrade/Downgrade Account Types

• Users can request changes to their account type through customer support, subject to meeting the new account type requirements.

Part 5: libord Demo Account Guide

Demo Account Features and Benefits

• Provides a virtual balance of ₹1,000,000 for practice.
• Access to all trading instruments available in live accounts.
• Ideal for testing strategies without financial risk.

How to Open a Demo Account

• Follow the same registration steps as for a live account, selecting the demo account option.

Demo Account Limitations

• Limited duration (typically 30 days).
• No real money involved, which may not simulate emotional trading conditions.

Virtual Balance Amount

• The demo account comes with a virtual balance of ₹1,000,000.

Demo vs Live Account Differences

• Demo accounts use virtual funds; live accounts involve real money and market conditions.

Duration/Expiry of Demo Accounts

• Demo accounts typically expire after 30 days of inactivity.

Part 6: libord Islamic Account Details

Swap-Free/Islamic Account Availability

• Libord offers an Islamic account that is compliant with Sharia law.

Eligibility Requirements

• Must be a Muslim trader to qualify for the Islamic account.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, making them suitable for long-term positions.

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 limited features compared to standard accounts, depending on the trading conditions.

FAQs – libord Account Types & Opening

1. What account types does libord offer？

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

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

• Standard: ₹5,000; ECN: ₹10,000; Pro: ₹25,000; Islamic: ₹5,000; Demo: ₹1,000,000 (virtual).

1. How long does libord account verification take？

• Account verification typically takes 1-3 business days.

1. Does libord offer demo accounts？

• Yes, libord offers demo accounts for practice trading.

1. Can I have multiple account types with libord？

• Yes, traders can open multiple account types as per their trading needs.

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

• Yes, libord offers Islamic accounts that comply with Sharia law.

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

• Government-issued ID, proof of residence, and a recent photograph.

1. Can I change my account type after registration？

• Yes, you can request to change your account type through customer support.