mBank broker Accounts

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

Part 1: mbank Account Types Overview

mbank Account Types Explained

mBank offers a variety of account types tailored to meet the diverse needs of its clients. Below is a detailed overview of the available account types:

1. Personal Account

• Minimum Deposit Requirement: PLN 0
• Spread/Commission Structure: No monthly fees; free transactions.
• Leverage Options: Up to 1:100.
• Key Features: Online banking, mobile app access, free debit card.
• Target User Profile: Individuals seeking basic banking services.
• Trading Instruments Available: Currency pairs, stocks, and bonds.

2. Premium Account

• Minimum Deposit Requirement: PLN 10,000
• Spread/Commission Structure: Competitive spreads with additional benefits.
• Leverage Options: Up to 1:200.
• Key Features: Dedicated account manager, priority customer service, exclusive offers.
• Target User Profile: Affluent individuals requiring personalized banking services.
• Trading Instruments Available: Broader range including commodities and ETFs.

3. Business Account

• Minimum Deposit Requirement: PLN 0
• Spread/Commission Structure: Free maintenance; transaction fees may apply.
• Leverage Options: Up to 1:100.
• Key Features: Tailored for business needs, online banking, and cash management services.
• Target User Profile: Small to medium enterprises.
• Trading Instruments Available: Forex, commodities, and corporate bonds.

4. Islamic Account

• Minimum Deposit Requirement: PLN 0
• Spread/Commission Structure: No swap fees; competitive spreads.
• Leverage Options: Up to 1:100.
• Key Features: Compliant with Sharia law, no interest on trades.
• Target User Profile: Muslim clients seeking Sharia-compliant banking.
• Trading Instruments Available: Similar to standard accounts without swaps.

5. Demo Account

• Minimum Deposit Requirement: Virtual balance (typically PLN 100,000).
• Spread/Commission Structure: No real costs; simulated trading environment.
• Leverage Options: Up to 1:100.
• Key Features: Practice trading without financial risk, access to all trading instruments.
• Target User Profile: Beginners and traders testing strategies.
• Trading Instruments Available: All available instruments in live accounts.

Recommended Account Types by Trader Level

• Beginners: Personal Account, Demo Account
• Intermediate Traders: Premium Account, Islamic Account
• Advanced Traders: Business Account

Part 2: mbank Account Features Comparison

Detailed mbank Account Features

Advantages of Each Account Type

• Personal Account:

• No minimum deposit.

• Free transactions.

• User-friendly online banking.

• Premium Account:

• Personalized service.

• Higher leverage.

• Exclusive offers and benefits.

• Business Account:

• Tailored for business needs.

• Free maintenance.

• Cash management services.

• Islamic Account:

• Sharia-compliant.

• No interest fees.

• Competitive spreads.

• Demo Account:

• Risk-free trading.

• Practice strategies.

• Access to all instruments.

Disadvantages of Each Account Type

• Personal Account:

• Limited features compared to premium accounts.

• Premium Account:

• Higher minimum deposit requirement.

• Business Account:

• Transaction fees may apply.

• Islamic Account:

• Limited to Sharia-compliant trading.

• Demo Account:

• No real financial gains.

• Limited duration for practice.

Part 3: mbank Account Opening Requirements

mbank Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents of Poland and certain other countries.
• Prohibited Countries: Specific countries may be restricted based on regulatory compliance.

Identity Verification Documents Needed

• Valid government-issued ID (passport or national ID).
• Proof of residence (utility bill, lease agreement).

Additional Documentation for Professional Accounts

• Business registration documents (for business accounts).
• Tax identification number.

KYC/AML Compliance Procedures

• mBank follows strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.
• Verification of identity and address is mandatory.

Verification Time Frames

• Account verification typically takes 1-3 business days.

Part 4: mbank Account Opening Process

Step-by-Step mbank Account Opening Guide

1. Visit Website: Go to the mBank website and click on the "Register" button.
2. Personal Information Entry: Fill in your personal details including name, address, and contact information.
3. Choose Account Type: Select the type of account you wish to open.
4. Set Trading Preferences: Indicate your trading preferences and risk profile.
5. Document Upload: Upload the required identification and proof of residence documents.
6. Account Verification: Wait for the bank to verify your documents.
7. Fund Your Account: Once approved, fund your account using the available methods.
8. Start Trading: Access your account and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both platforms, but mobile registration may require the use of the mBank app for document uploads.

Common Registration Issues and Solutions

• Issue: Document upload failures.

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

• Issue: Delays in verification.

• 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

• Contact customer support or use the online banking platform to request changes to your account type.

Part 5: mbank Demo Account Information

mbank Demo Account Guide

Demo Account Features and Benefits

• Allows practice trading without financial risk.
• Access to all trading instruments available in live accounts.
• Ideal for beginners to learn trading strategies.

How to Open a Demo Account

• Visit the mBank website or app and select the option to open a demo account.
• Follow the registration steps similar to a live account.

Demo Account Limitations

• No real financial gains.
• Limited duration for use (typically 30-90 days).

Virtual Balance Amount

• Standard virtual balance is usually PLN 100,000.

Demo vs Live Account Differences

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

Duration/Expiry of Demo Accounts

• Demo accounts typically expire after 30-90 days of inactivity.

Part 6: mbank Islamic Account Details

mbank Islamic Account Details

Swap-Free/Islamic Account Availability

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

Eligibility Requirements

• Must be a Muslim client seeking Sharia-compliant trading options.

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 or contact customer support for assistance.

Restrictions or Special Conditions

• Must adhere to Sharia compliance; no interest-based transactions are allowed.

FAQs – mbank Account Types & Opening

1. What account types does mbank offer？

• mBank offers Personal, Premium, Business, Islamic, and Demo accounts.

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

• Personal Account: PLN 0, Premium Account: PLN 10,000, Business Account: PLN 0, Islamic Account: PLN 0, Demo Account: PLN 100,000 (virtual).

1. How long does mbank account verification take？

• Verification typically takes 1-3 business days.

1. Does mbank offer demo accounts？

• Yes, mBank provides a demo account for practice trading.

1. Can I have multiple account types with mbank？

• Yes, clients can hold multiple account types.

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

• Yes, mBank offers Islamic accounts that are compliant with Sharia law.

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

• A valid 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.