Metatrade broker Accounts

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

Part 1: metatrade Account Types Overview

metatrade Account Types Explained

MetaTrader offers a variety of account types designed to cater to different trading needs and preferences. Below are the primary account types available:

1. Standard Account

• Minimum Deposit: $10
• Spread/Commission Structure: Variable spreads starting from 1.0 pip; no commission.
• Leverage Options: Up to 1:500.
• Key Features: Ideal for beginners; supports various trading instruments.
• Target User Profile: Beginners and intermediate traders.
• Trading Instruments Available: Forex, commodities, indices.

1. ECN Account

• Minimum Deposit: $50
• Spread/Commission Structure: Spreads from 0.3 pips plus a commission of $2.5 per lot.
• Leverage Options: Up to 1:1000.
• Key Features: Direct market access with tighter spreads; suitable for high-frequency trading.
• Target User Profile: Advanced traders and professionals.
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies.

1. Cent Account

• Minimum Deposit: No minimum deposit.
• Spread/Commission Structure: Variable spreads; no commission.
• Leverage Options: Up to 1:500.
• Key Features: Ideal for beginners to practice with smaller amounts.
• Target User Profile: New traders.
• Trading Instruments Available: Forex, metals.

1. Islamic Account

• Minimum Deposit: Varies by broker.
• Spread/Commission Structure: Similar to standard accounts but without swap fees.
• Leverage Options: Up to 1:500.
• Key Features: Complies with Sharia law; no interest fees.
• Target User Profile: Muslim traders.
• Trading Instruments Available: Forex, commodities, indices.

1. Demo Account

• Minimum Deposit: Virtual funds (typically $100,000).
• Spread/Commission Structure: Same as live accounts.
• Leverage Options: Same as live accounts.
• Key Features: Risk-free environment to practice trading strategies.
• 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: Cent Account, Demo Account
• Intermediate: Standard Account
• Advanced: ECN Account, Islamic Account

Part 2: metatrade Account Features Comparison

Detailed metatrade Account Features

When comparing features across different account types, the following aspects are crucial:

• Minimum Deposit:

• Standard: $10

• ECN: $50

• Cent: No minimum

• Islamic: Varies

• Demo: Virtual funds

• Maximum Leverage:

• Standard: 1:500

• ECN: 1:1000

• Cent: 1:500

• Islamic: 1:500

• Demo: Same as live accounts

• Spreads (Typical/Minimum):

• Standard: From 1.0 pip

• ECN: From 0.3 pip

• Cent: Variable

• Islamic: Same as standard

• Commission Fees:

• Standard: None

• ECN: $2.5 per lot

• Cent: None

• Islamic: None

• Lot Size:

• Standard: 1 lot = 100,000 units

• ECN: 1 lot = 100,000 units

• Cent: 1 lot = 1,000 units

• Islamic: Same as standard

• Available Trading Platforms:

• Standard: MT4, MT5

• ECN: MT4, MT5

• Cent: MT4

• Islamic: MT4, MT5

• Demo: MT4, MT5

• Execution Type:

• Standard: Market Execution

• ECN: ECN Execution

• Cent: Market Execution

• Islamic: Market Execution

• Demo: Market Execution

• Islamic Account Availability: Yes for Islamic accounts.

• Swap-Free Options: Available for Islamic accounts.

• Demo Account Features: Unlimited access to virtual funds; same trading conditions as live accounts.

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit

• No commission fees

• Suitable for various trading strategies

• ECN Account:

• Tight spreads

• Direct market access

• Ideal for scalping and high-frequency trading

• Cent Account:

• Risk-free trading environment

• Suitable for beginners

• Allows practice with real market conditions

• Islamic Account:

• Complies with Sharia law

• No swap fees

• Suitable for Muslim traders

• Demo Account:

• Risk-free practice

• Unlimited access to features

• Ideal for testing strategies

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN

• Limited advanced features

• ECN Account:

• Requires a higher minimum deposit

• Commission fees may increase trading costs

• Cent Account:

• Limited trading instruments

• Not suitable for serious trading

• Islamic Account:

• May have limited availability

• Not all brokers offer this type

• Demo Account:

• No real profit potential

• Limited duration for practice

Part 3: metatrade Account Opening Requirements

metatrade Account Registration Requirements

To open a metatrade account, the following eligibility criteria must be met:

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Some brokers may restrict access based on location.
• Prohibited Countries: Countries like the United States, Cuba, and North Korea may be restricted.
• Identity Verification Documents Needed:
• Government-issued ID (passport or drivers license)
• Proof of residence (utility bill or bank statement)
• Additional Documentation for Professional Accounts: May require proof of trading experience or financial status.

KYC/AML Compliance Procedures

• Complete identity verification to comply with Know Your Customer (KYC) regulations.
• Anti-Money Laundering (AML) checks may also be conducted.

Verification Time Frames

• Account verification typically takes 1-3 business days, depending on the broker and the completeness of submitted documents.

Part 4: metatrade Account Opening Process

Step-by-Step metatrade Account Opening Guide

1. Visit Website and Click Registration: Go to the broker's website and find the registration link.
2. Personal Information Entry: Fill in your personal details such as name, email, and phone number.
3. Choose Account Type: Select the desired account type (Standard, ECN, etc.).
4. Set Trading Preferences: Specify your trading preferences, including leverage and currency.
5. Document Upload: Upload the required verification documents.
6. Account Verification: Wait for the broker to verify your documents.
7. Fund Your Account: Deposit funds into your trading account using available payment methods.
8. Start Trading: Once your account is funded, you can begin trading.

Desktop vs Mobile Registration Differences

• The registration process is generally similar on both platforms, but mobile registration may have simplified steps.

Common Registration Issues and Solutions

• Issue: Document not accepted.
• Solution: Ensure documents are clear and meet the broker's requirements.
• Issue: Verification delays.
• 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 to request an upgrade or downgrade of your account type.

Part 5: metatrade Demo Account Information

metatrade Demo Account Guide

• Demo Account Features and Benefits:

• Access to the full range of trading instruments.

• No financial risk as it uses virtual funds.

• Ability to practice trading strategies in real market conditions.

• How to Open a Demo Account:

• Follow the same registration process as for live accounts but select "Demo Account" during the account type selection.

• Demo Account Limitations:

• Limited duration (may expire after a certain period).

• No real profits can be made.

• Virtual Balance Amount:

• Typically set at $100,000 in virtual funds.

• Demo vs Live Account Differences:

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

• Trading conditions may be identical, but emotional factors differ.

• Duration/Expiry of Demo Accounts:

• Demo accounts may last for 30 days or longer, depending on the broker's policy.

Part 6: metatrade Islamic Account (if available)

metatrade Islamic Account Details

• Swap-Free/Islamic Account Availability: Yes, many brokers offer Islamic accounts.
• Eligibility Requirements: Must comply with Sharia law; typically requires a declaration of faith.
• Differences from Standard Accounts: No swap fees; may have different trading conditions.
• How to Apply for Islamic Account: Select the Islamic account option during registration or contact customer support.
• Restrictions or Special Conditions: May have limitations on certain trading strategies or instruments.

FAQs – metatrade Account Types & Opening

1. What account types does metatrade offer？

• Standard, ECN, Cent, Islamic, and Demo accounts.

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

• Standard: $10, ECN: $50, Cent: No minimum, Islamic: Varies.

1. How long does metatrade account verification take？

• Typically 1-3 business days.

1. Does metatrade offer demo accounts？

• Yes, demo accounts are available for practice trading.

1. Can I have multiple account types with metatrade？

• Yes, you can open multiple accounts with different types.

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

• Yes, Islamic accounts are available.

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

• Government-issued ID and proof of residence.

1. Can I change my account type after registration？

• Yes, by contacting customer support.