Merida broker Accounts

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

Part 1: merida Account Types Overview

merida Account Types Explained

Merida offers several account types tailored to different trading needs and experience levels. Below is a detailed overview of each account type:

Recommended Account Types by Trader Level

• Beginners: Standard Account
• Intermediate Traders: ECN Account
• Advanced Traders: Pro Account
• Muslim Traders: Islamic Account
• All Levels: Demo Account

Part 2: merida Account Features Comparison

Detailed merida Account Features

The following table compares the features across different account types:

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit

• User-friendly for beginners

• Access to a wide range of instruments

• ECN Account:

• Tight spreads

• Direct market access

• Suitable for scalping strategies

• Pro Account:

• Advanced trading tools

• Lower commission fees

• Dedicated support

• Islamic Account:

• Compliant with Islamic finance principles

• No swap fees

• Demo Account:

• Risk-free trading environment

• Ideal for practice and strategy testing

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN

• Limited advanced features

• ECN Account:

• Higher minimum deposit required

• Commission fees can add up

• Pro Account:

• High minimum deposit

• More complex features may overwhelm beginners

• Islamic Account:

• Limited to Muslim traders

• May have restrictions on certain trading strategies

• Demo Account:

• Limited duration

• No real money involved, which may not reflect live trading conditions

Part 3: merida Account Opening Requirements

merida Account Registration Requirements

To open a merida account, the following eligibility criteria and documentation are required:

• Eligibility Criteria:

• Must be at least 18 years old

• No geographic restrictions noted

• Prohibited countries include those under international sanctions (specific countries may vary)

• Identity Verification Documents Needed:

• Government-issued ID (passport or national ID)

• Proof of residence (utility bill or bank statement)

• Additional Documentation for Professional Accounts:

• Proof of trading experience

• Financial statements (if applicable)

• KYC/AML Compliance Procedures:

• Complete identity verification process

• Submit required documents for review

• Verification Time Frames:

• Typically within 1-3 business days, depending on the completeness of submitted documents.

Part 4: merida Account Opening Process

Step-by-Step merida Account Opening Guide

1. Visit the Website: Navigate to the merida official website.
2. Click Registration: Find and click on the "Open Account" button.
3. Personal Information Entry: Fill in personal details such as name, email, and phone number.
4. Choose Account Type: Select the desired account type based on your trading needs.
5. Set Trading Preferences: Specify your trading preferences and risk tolerance.
6. Document Upload: Upload the required identity verification documents.
7. Account Verification: Wait for the verification process to complete.
8. Fund Your Account: Deposit the minimum required amount to activate your account.
9. 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, with mobile offering a more streamlined interface for quick entry.

Common Registration Issues and Solutions

• Issue: Document rejection

• Solution: Ensure documents are clear and meet the specified requirements.

• Issue: Verification delays

• Solution: Contact customer support for updates.

Average Account Approval Time

• Account approval typically takes 1-3 business days.

How to Upgrade/Downgrade Account Types

• Log in to your account and navigate to the account settings to request an upgrade or downgrade. Additional documentation may be required.

Part 5: merida Demo Account Information

merida Demo Account Guide

• Demo Account Features and Benefits:

• Practice trading with virtual funds

• Access to real-time market data

• Test strategies without financial risk

• How to Open a Demo Account:

• Follow the same registration steps, selecting the demo account option.

• Demo Account Limitations:

• Limited duration (typically 30-90 days)

• No access to real funds or profits

• Virtual Balance Amount:

• Usually set at $10,000 or similar for practice.

• Demo vs Live Account Differences:

• Demo accounts use virtual funds; live accounts involve real money.

• Live accounts may have additional fees and commissions.

• Duration/Expiry of Demo Accounts:

• Demo accounts typically expire after a set period unless extended.

Part 6: merida Islamic Account (if available)

merida Islamic Account Details

• Swap-Free/Islamic Account Availability:

• Yes, merida offers Islamic accounts that comply with Sharia law.

• Eligibility Requirements:

• Must be a practicing Muslim.

• Differences from Standard Accounts:

• No swap fees are charged on overnight positions.

• How to Apply for Islamic Account:

• Select the Islamic account option during registration and provide necessary documentation.

• Restrictions or Special Conditions:

• Must adhere to Islamic trading principles, avoiding interest-based transactions.

FAQs – merida Account Types & Opening

1. What account types does merida offer？

• Merida 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: $500, Demo: $0.

1. How long does merida account verification take？

• Verification typically takes 1-3 business days.

1. Does merida offer demo accounts？

• Yes, merida offers demo accounts for practice trading.

1. Can I have multiple account types with merida？

• Yes, you can have multiple account types.

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

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

1. What documents do I need to open a merida 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 your account settings.