Magic Compass Account Type

Magic Compass offers three different types of trading accounts to cater to various traders' needs:

• Silver Account:
• Minimum Deposit: $100
• Leverage: Up to 1:20
• Spreads: Floating spreads starting from 0.1 pips
• Commission: None
• Trading Instruments: CFDs on forex, metals, energy, and spot indices
• Execution Type: Market execution with no requotes
• Expert Advisor Support: No
• Gold Account:
• Minimum Deposit: $2,500
• Leverage: Up to 1:20
• Spreads: Lower than the Silver account
• Commission: None
• Trading Instruments: Same as Silver account
• Execution Type: Market execution
• Expert Advisor Support: Yes
• Raw Spread Account:
• Minimum Deposit: $5,000
• Leverage: Up to 1:20
• Spreads: Lowest spreads available
• Commission: Yes (specific rates may vary)
• Trading Instruments: Same as Silver account
• Execution Type: Market execution
• Expert Advisor Support: Yes

All account types offer negative balance protection, with a margin call level at 80% and a stop out level at 50%.

Magic Compass Broker Account Opening Process

To open a live account with Magic Compass, follow these steps:

• Visit the Official Website: Go to the Magic Compass website.
• Register: Click on the “register” button on the homepage.
• Fill in Personal Information: Provide your name, email address, country of residence, and phone number.
• Accept Terms and Conditions: Read and accept the terms and conditions.
• Choose Account Type: Select the type of account you wish to open (Silver, Gold, or Raw Spread).
• Submit Application: Submit your application for a live account.
• Verification: You may need to provide additional documentation for identity verification, such as a passport or proof of address.
• Receive Credentials: Once approved, you will receive your account credentials and instructions on how to fund your account.

For detailed information, you can refer to the source: Magic Compass Account Overview and Magic Compass Review.