MFEX broker Accounts

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

Part 1: mfex Account Types Overview

mfex Account Types Explained

MFEX offers several account types tailored to meet the diverse needs of traders. Below is an overview of the available account types:

Recommended Account Types by Trader Level

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

Part 2: mfex Account Features Comparison

Detailed mfex Account Features

The following table compares features across different account types:

Advantages and Disadvantages of Each Account Type

Standard Account

• Advantages:
• Low minimum deposit
• User-friendly interface
• No commission fees
• Disadvantages:
• Higher spreads compared to ECN
• Limited leverage options

ECN Account

• Advantages:
• Tight spreads
• Direct market access
• High leverage options
• Disadvantages:
• Higher minimum deposit
• Commission fees apply

Pro Account

• Advantages:
• Tailored for professionals
• Lower commission fees
• High leverage options
• Disadvantages:
• High minimum deposit
• Complex for beginners

Islamic Account

• Advantages:
• Compliant with Sharia law
• No swap fees
• Disadvantages:
• Limited availability
• Higher minimum deposit than Standard

Demo Account

• Advantages:
• Risk-free trading
• Access to all instruments
• Disadvantages:
• No real money trading
• Limited duration

Part 3: mfex Account Opening Requirements

mfex Account Registration Requirements

Eligibility Criteria:

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available in most countries; specific restrictions may apply.
• Prohibited Countries: Not specified in the sources.

Identity Verification Documents Needed:

• Valid government-issued photo ID (passport, driver's license).
• Proof of residence (utility bill, bank statement).

Additional Documentation for Professional Accounts:

• Financial statements or proof of income may be required.

KYC/AML Compliance Procedures:

• All clients must undergo Know Your Customer (KYC) and Anti-Money Laundering (AML) checks.

Verification Time Frames:

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

Part 4: mfex Account Opening Process

Step-by-Step mfex Account Opening Guide

1. Visit the Website: Go to the MFEX website and click on the registration button.
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 based on your trading needs.
4. Set Trading Preferences: Specify your trading preferences, including leverage and trading instruments.
5. Document Upload: Upload the necessary identification and proof of residence documents.
6. Account Verification: Wait for the verification process to complete.
7. Fund Your Account: Once approved, deposit funds into your account.
8. Start Trading: Begin trading with your new account.

Desktop vs Mobile Registration Differences:

• The registration process is similar on both platforms, but the mobile version may have a simplified interface.

Common Registration Issues and Solutions:

• Issue: Document upload failure.

  Solution: Ensure files are in the correct format and under the size limit.

• Issue: Verification delays.

  Solution: Contact customer support for assistance.

Average Account Approval Time:

• Typically, 1-3 business days.

How to Upgrade/Downgrade Account Types:

• Contact customer support to request changes to your account type.

Part 5: mfex Demo Account Information

mfex Demo Account Guide

Demo Account Features and Benefits:

• Provides a risk-free environment to practice trading.
• Access to all available trading instruments.

How to Open a Demo Account:

• Follow the same registration process but select the demo account option.

Demo Account Limitations:

• No real money trading; only virtual funds are used.

Virtual Balance Amount:

• Typically, demo accounts come with a virtual balance of €10,000 or similar.

Demo vs Live Account Differences:

• Demo accounts do not involve real financial risk, while live accounts do.

Duration/Expiry of Demo Accounts:

• Demo accounts usually expire after 30 days unless extended by the broker.

Part 6: mfex Islamic Account Details

mfex Islamic Account Details

Swap-Free/Islamic Account Availability:

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

Eligibility Requirements:

• Must be a Muslim trader.

Differences from Standard Accounts:

• Islamic accounts do not incur swap fees.

How to Apply for Islamic Account:

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

Restrictions or Special Conditions:

• Must adhere to Islamic finance principles.

FAQs – mfex Account Types & Opening

1. What account types does mfex offer？

• MFEX 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.

1. How long does mfex account verification take？

• Typically, 1-3 business days.

1. Does mfex offer demo accounts？

• Yes, a demo account is available for practice trading.

1. Can I have multiple account types with mfex？

• Yes, you can open multiple account types.

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

• Yes, Islamic accounts are available.

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

• A valid photo ID and proof of residence.

1. Can I change my account type after registration？

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