Luxor broker Accounts

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

luxor Account Types Explained

Luxor offers a variety of account types to cater to different trading needs and preferences. Below is a detailed overview of the available account types, their features, and target user profiles.

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.5 pips
• Leverage Options: Up to 1:500
• Key Features: User-friendly interface, access to educational resources
• Target User Profile: Beginners and casual traders
• Trading Instruments Available: Forex, commodities, indices

2. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Raw spreads starting from 0.0 pips with a commission of $3 per lot
• Leverage Options: Up to 1:200
• Key Features: Direct market access, lower spreads, faster execution
• Target User Profile: Experienced traders and scalpers
• Trading Instruments Available: Forex, commodities, cryptocurrencies

3. Pro Account

• Minimum Deposit Requirement: $5,000
• Spread/Commission Structure: Competitive spreads with lower commission rates
• Leverage Options: Up to 1:100
• Key Features: Advanced trading tools, priority customer support
• Target User Profile: Professional traders and institutional clients
• Trading Instruments Available: Forex, commodities, indices, stocks

4. Islamic Account

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

5. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds)
• Spread/Commission Structure: Same as Standard Account
• Leverage Options: Up to 1:500
• Key Features: Practice trading with virtual funds, access to all trading instruments
• 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 or Demo Account
• Intermediate Traders: ECN Account
• Advanced Traders: Pro Account
• Muslim Traders: Islamic Account

Detailed luxor Account Features

Comparison of Features Across Different Account Types

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $5,000

• Islamic: $100

• Demo: N/A

• Maximum Leverage:

• Standard: 1:500

• ECN: 1:200

• Pro: 1:100

• Islamic: 1:500

• Demo: 1:500

• Spreads (Typical/Minimum):

• Standard: From 1.5 pips

• ECN: From 0.0 pips

• Pro: Competitive

• Islamic: Same as Standard

• Demo: Same as Standard

• Commission Fees:

• Standard: None

• ECN: $3 per lot

• Pro: Lower rates

• Islamic: None

• Demo: None

• Lot Size:

• Standard: Micro/mini/standard

• ECN: Micro/mini/standard

• Pro: Standard

• Islamic: Micro/mini/standard

• Demo: 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: Market

• Islamic: Market

• Demo: Market

• Islamic Account Availability: Yes for Islamic Account only.

• Swap-Free Options: Available for Islamic Accounts.

• Demo Account Features: Virtual funds, access to all instruments, practice trading.

Advantages of Each Account Type

• Standard Account:

• Easy to use for beginners

• Low minimum deposit

• Access to educational resources

• ECN Account:

• Low spreads and commissions

• Direct market access

• Suitable for high-frequency trading

• Pro Account:

• Advanced trading tools

• Lower commission rates

• Priority support

• Islamic Account:

• Complies with Islamic finance principles

• No swap fees

• Suitable for Muslim traders

• Demo Account:

• Risk-free trading environment

• Practice with virtual funds

• Test strategies before live trading

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN

• Limited advanced features

• ECN Account:

• Higher minimum deposit

• Commission fees may apply

• Pro Account:

• High minimum deposit

• More complex for beginners

• Islamic Account:

• Limited to specific trading conditions

• May have fewer features than other accounts

• Demo Account:

• No real profit potential

• Limited duration for practice

luxor Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Not specified; generally available globally.
• Prohibited Countries: Specific countries may be restricted based on regulatory compliance.
• Identity Verification Documents Needed: Government-issued ID (passport or driver's license).
• Proof of Residence Requirements: Utility bill or bank statement with the applicant's name and address.
• Additional Documentation for Professional Accounts: May require financial statements or proof of trading experience.

KYC/AML Compliance Procedures

• Luxor adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring identity verification and documentation submission.

Verification Time Frames

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

Step-by-Step luxor Account Opening Guide

Detailed Registration Process

1. Visit Website and Click Registration: Go to the Luxor website and select the registration 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 from the options available.
4. Set Trading Preferences: Indicate trading preferences, including leverage and trading instruments.
5. Document Upload: Upload required identity verification documents.
6. Account Verification: Wait for the verification process to complete.
7. Fund Your Account: Deposit funds into your account to start trading.
8. 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, though mobile may have a more streamlined interface.

Common Registration Issues and Solutions

• Issue: Document upload failure.
• Solution: Ensure documents are clear and in the correct format.
• Issue: Verification delays.
• Solution: Contact customer support for assistance.

Average Account Approval Time

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

How to Upgrade/Downgrade Account Types

• Log into your account, navigate to account settings, and select the option to upgrade or downgrade your account type. Follow the prompts to complete the process.

luxor Demo Account Guide

Demo Account Features and Benefits

• Access to all trading instruments with virtual funds.
• Ability to practice trading strategies without financial risk.
• No time limit on demo accounts, allowing for extended practice.

How to Open a Demo Account

• Select the demo account option during the registration process or within the trading platform.

Demo Account Limitations

• No real profits can be earned; it is for practice only.

Virtual Balance Amount

• Typically, demo accounts are funded with a virtual balance of $10,000.

Demo vs Live Account Differences

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

Duration/Expiry of Demo Accounts

• Demo accounts generally do not expire, but some brokers may impose time limits.

luxor Islamic Account Details

Swap-Free/Islamic Account Availability

• Luxor offers Islamic accounts that comply with Sharia law, allowing for swap-free trading.

Eligibility Requirements

• Must be a Muslim trader seeking compliance with Islamic finance principles.

Differences from Standard Accounts

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

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, such as limitations on certain instruments.

FAQs – luxor Account Types & Opening

1. What account types does luxor offer？

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

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

• Standard: $100, ECN: $500, Pro: $5,000, Islamic: $100, Demo: N/A.

1. How long does luxor account verification take？

• Verification typically takes 1-3 business days.

1. Does luxor offer demo accounts？

• Yes, Luxor provides demo accounts for practice trading.

1. Can I have multiple account types with luxor？

• Yes, traders can have multiple account types.

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

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

1. What documents do I need to open a luxor 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.