Mako broker Accounts

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

Part 1: mako Account Types Overview

mako Account Types Explained

Mako offers a variety of account types tailored to different trading needs and preferences. Below is a detailed overview of each account type:

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.0 pips; no commission.
• Leverage Options: Up to 1:500.
• Key Features: Ideal for beginners; access to all trading instruments.
• Target User Profile: Beginner traders.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

2. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Spreads from 0.1 pips; commission of $5 per lot.
• Leverage Options: Up to 1:100.
• Key Features: Direct market access; lower spreads; suitable for high-frequency trading.
• Target User Profile: Advanced traders.
• Trading Instruments Available: Forex, commodities, indices.

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Spreads from 0.5 pips; commission of $3 per lot.
• Leverage Options: Up to 1:200.
• Key Features: Designed for professional traders; advanced trading tools.
• Target User Profile: Professional traders and institutions.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

4. Islamic Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Similar to Standard Account; no swap fees.
• Leverage Options: Up to 1:500.
• Key Features: Compliant with Sharia law; no interest on overnight positions.
• Target User Profile: Muslim traders.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

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 without risk; access to all trading instruments.
• Target User Profile: Beginner traders and those testing strategies.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginner: Standard Account, Demo Account
• Intermediate: ECN Account
• Advanced: Pro Account
• Islamic Compliance: Islamic Account

Part 2: mako Account Features Comparison

Detailed mako Account Features

The following features are compared across different mako account types:

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $100

• Demo: N/A

• Maximum Leverage:

• Standard: Up to 1:500

• ECN: Up to 1:100

• Pro: Up to 1:200

• Islamic: Up to 1:500

• Demo: Up to 1:500

• Spreads (Typical/Minimum):

• Standard: From 1.0 pips

• ECN: From 0.1 pips

• Pro: From 0.5 pips

• Islamic: Similar to Standard

• Demo: Same as Standard

• Commission Fees:

• Standard: None

• ECN: $5 per lot

• Pro: $3 per lot

• Islamic: None

• Demo: None

• Lot Size:

• Standard: Micro, Mini, Standard

• ECN: Micro, Mini, Standard

• Pro: Mini, 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:

• Standard: Yes

• ECN: Yes

• Pro: Yes

• Islamic: N/A

• Demo: N/A

• Swap-Free Options:

• Standard: Yes

• ECN: Yes

• Pro: Yes

• Islamic: N/A

• Demo: N/A

• Demo Account Features:

• Virtual balance for practice trading.

• Access to all trading instruments.

• No risk involved.

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit.

• No commission fees.

• Suitable for beginners.

• ECN Account:

• Tight spreads.

• Direct market access.

• Ideal for high-frequency trading.

• Pro Account:

• Advanced trading tools.

• Lower commission fees.

• Suitable for professional traders.

• Islamic Account:

• Compliant with Sharia law.

• No overnight interest fees.

• Available for all trading instruments.

• Demo Account:

• Risk-free trading environment.

• Practice without financial commitment.

• Access to all trading features.

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN.

• Limited advanced features.

• ECN Account:

• Higher minimum deposit.

• Commission fees apply.

• Pro Account:

• Higher minimum deposit.

• Not suitable for beginners.

• Islamic Account:

• Limited to Muslim traders.

• May have restrictions on certain trading strategies.

• Demo Account:

• Virtual funds only.

• Limited duration for practice.

Part 3: mako Account Opening Requirements

mako Account Registration Requirements

Eligibility Criteria:

• Age Requirements: Minimum age of 18 years.
• Geographic Restrictions: Available in most countries; restrictions may apply based on local regulations.
• Prohibited Countries: Specific countries may be restricted; check with mako for the latest list.

Identity Verification Documents Needed:

• Government-issued ID (passport or drivers license).
• Proof of residence (utility bill or bank statement).

Additional Documentation for Professional Accounts:

• Business registration documents (if applicable).
• Financial statements or proof of income.

KYC/AML Compliance Procedures:

• Completion of KYC forms.
• Verification of identity and address.
• Ongoing monitoring for compliance with AML regulations.

Verification Time Frames:

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

Part 4: mako Account Opening Process

Step-by-Step mako Account Opening Guide

1. Visit Website and Click Registration: Navigate to the official mako website and select the registration option.
2. Personal Information Entry: Fill out the required personal information, including name, email, and phone number.
3. Choose Account Type: Select the desired account type (Standard, ECN, Pro, Islamic, or Demo).
4. Set Trading Preferences: Specify trading preferences, including leverage and account currency.
5. Document Upload: Upload the necessary identity verification documents.
6. Account Verification: Wait for the verification process to complete.
7. Fund Your Account: Deposit funds into your newly created account.
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, with minor interface adjustments for mobile users.

Common Registration Issues and Solutions:

• Issue: Document upload errors.
• Solution: Ensure documents are clear and meet size requirements.
• Issue: Verification delays.
• Solution: Contact customer support for assistance.

Average Account Approval Time:

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

How to Upgrade/Downgrade Account Types:

• Users can request account upgrades or downgrades through the customer support portal.

Part 5: mako Demo Account Information

mako Demo Account Guide

Demo Account Features and Benefits:

• Practice trading with virtual funds.
• Access to all trading instruments and features.
• Ideal for beginners to learn trading strategies.

How to Open a Demo Account:

• Select the demo account option during the registration process.
• Complete the required information and submit.

Demo Account Limitations:

• Limited duration (typically 30 days).
• Virtual funds only; cannot be converted to real money.

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; live accounts require real money deposits.
• Live accounts involve real market conditions and trading risks.

Duration/Expiry of Demo Accounts:

• Demo accounts usually expire after 30 days of inactivity.

Part 6: mako Islamic Account Details

mako Islamic Account Details

Swap-Free/Islamic Account Availability:

• Mako offers swap-free accounts compliant with Islamic law.

Eligibility Requirements:

• Must be a practicing Muslim to qualify for an Islamic account.

Differences from Standard Accounts:

• Islamic accounts do not incur swap fees on overnight 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 specific trading restrictions; consult with mako for details.

FAQs – mako Account Types & Opening

1. What account types does mako offer？

• Mako 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 mako account verification take？

• Account verification typically takes 1-3 business days.

1. Does mako offer demo accounts？

• Yes, mako offers demo accounts for practice trading.

1. Can I have multiple account types with mako？

• Yes, users can have multiple account types.

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

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

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

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

1. Can I change my account type after registration？

• Yes, you can request to upgrade or downgrade your account type through customer support.