Master Minds broker Accounts

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

Part 1: master minds Account Types Explained

Available Account Types

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Fixed spreads starting from 1.0 pips
• Leverage Options: Up to 1:500
• Key Features: User-friendly platform, suitable for beginners
• Target User Profile: Beginners
• Trading Instruments Available: Forex, commodities, indices

1. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Variable spreads with a commission of $3 per lot
• Leverage Options: Up to 1:200
• Key Features: Direct market access, lower spreads
• Target User Profile: Advanced traders
• Trading Instruments Available: Forex, commodities, cryptocurrencies

1. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Tight spreads starting from 0.0 pips with a commission of $5 per lot
• Leverage Options: Up to 1:100
• Key Features: Advanced trading tools, priority customer support
• Target User Profile: Professional traders
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

1. Islamic Account

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

1. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds)
• Spread/Commission Structure: Same as Standard Account for practice
• Leverage Options: Up to 1:500
• Key Features: Risk-free trading environment with virtual funds
• Target User Profile: Beginners and those 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: master minds Account Features Comparison

Detailed master minds 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

• Demo: 1:500

• Spreads (Typical/Minimum):

• Standard: 1.0 pips

• ECN: Variable

• Pro: 0.0 pips

• Islamic: 1.0 pips

• Demo: 1.0 pips

• Commission Fees:

• Standard: None

• ECN: $3/lot

• Pro: $5/lot

• Islamic: None

• Demo: None

• Lot Size:

• Standard: Micro, Mini, Standard

• ECN: Mini, Standard

• Pro: Standard

• Islamic: Micro, Mini, Standard

• Demo: Micro, Mini, Standard

• Available Trading Platforms:

• All account types: MT4, MT5

• Execution Type:

• Standard: Market

• ECN: ECN

• Pro: ECN

• Islamic: Market

• Demo: Market

• Islamic Account Availability:

• Available for Standard and Islamic accounts

• Swap-Free Options:

• Available for Islamic accounts

• Demo Account Features:

• Virtual funds for practice, access to all trading instruments

Advantages of Each Account Type

• Standard Account:

• Easy to use for beginners

• No commission fees

• High leverage options

• ECN Account:

• Direct market access

• Lower spreads

• Suitable for high-frequency trading

• Pro Account:

• Tightest spreads available

• Advanced trading tools

• Priority support

• Islamic Account:

• Complies with Islamic finance principles

• No swap fees

• Demo Account:

• Risk-free trading

• Ideal for strategy testing

• Access to all trading instruments

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN and Pro accounts

• ECN Account:

• Requires a higher minimum deposit

• Commission fees apply

• Pro Account:

• Higher minimum deposit requirement

• Commission fees apply

• Islamic Account:

• Limited to certain trading instruments

• Demo Account:

• No real profits can be made

• Limited duration for practice

Part 3: master minds Account Opening Requirements

master minds Account Registration Requirements

• Eligibility Criteria:

• Age Requirements: Must be at least 18 years old

• Geographic Restrictions: Available in most countries, check specific restrictions

• Prohibited Countries: Countries under international sanctions may be restricted

• Identity Verification Documents Needed:

• Government-issued ID (passport or national ID)

• Proof of address (utility bill or bank statement)

• Proof of Residence Requirements:

• Recent document showing your name and address

• Additional Documentation for Professional Accounts:

• Business registration documents for corporate accounts

• KYC/AML Compliance Procedures:

• Complete identity verification to comply with regulations

• Verification Time Frames:

• Typically 1-3 business days for account verification

Part 4: master minds Account Opening Process

Step-by-Step master minds Account Opening Guide

1. Visit Website and Click Registration:

• Go to the official master minds website and click on the "Sign Up" button.

1. Personal Information Entry:

• Fill in personal details including name, email, and phone number.

1. Choose Account Type:

• Select the desired account type from the available options.

1. Set Trading Preferences:

• Specify trading preferences such as leverage and trading instruments.

1. Document Upload:

• Upload required identity verification documents.

1. Account Verification:

• Wait for the verification process to complete.

1. Fund Your Account:

• Deposit the minimum required amount to activate your account.

1. Start Trading:

• Access your account and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile, although the mobile interface may have simplified navigation.

Common Registration Issues and Solutions

• Issue: Document upload fails.

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

• Issue: Verification delays.

• Solution: Contact customer support for assistance.

Average Account Approval Time

• Typically 1-3 business days.

How to Upgrade/Downgrade Account Types

• Log into your account, navigate to "Manage Subscriptions," and select the desired account type.

Part 5: master minds Demo Account Information

master minds Demo Account Guide

• Demo Account Features and Benefits:

• Access to all trading instruments with virtual funds.

• Risk-free environment to practice trading strategies.

• How to Open a Demo Account:

• Follow the same registration process, selecting "Demo Account" during account type selection.

• Demo Account Limitations:

• Limited duration (typically 30 days) and virtual funds.

• Virtual Balance Amount:

• Usually set at $10,000 in virtual funds.

• Demo vs Live Account Differences:

• Demo accounts use virtual funds, while live accounts require real money deposits.

• Duration/Expiry of Demo Accounts:

• Demo accounts typically expire after 30 days unless extended.

Part 6: master minds Islamic Account Details

master minds Islamic Account Details

• Swap-Free/Islamic Account Availability:

• Available for Standard and Islamic account types.

• Eligibility Requirements:

• Must be a practicing Muslim adhering to Islamic finance principles.

• Differences from Standard Accounts:

• No swap fees applied to overnight positions.

• How to Apply for Islamic Account:

• Select the Islamic account option during the registration process.

• Restrictions or Special Conditions:

• Must comply with Islamic finance regulations.

FAQs – master minds Account Types & Opening

1. What account types does master minds offer？

• 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 master minds account verification take？

• Typically 1-3 business days.

1. Does master minds offer demo accounts？

• Yes, demo accounts are available for practice.

1. Can I have multiple account types with master minds？

• Yes, you can open multiple account types.

1. Does master minds offer Islamic/swap-free accounts？

• Yes, Islamic accounts are available.

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

• A government-issued ID and proof of address.

1. Can I change my account type after registration？

• Yes, you can upgrade or downgrade your account type through the account management section.