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

Part 1: mfpro Account Types Explained

Available Account Types

1. Standard Account

• Minimum Deposit: $100
• Spread/Commission Structure: Floating spreads starting from 1.2 pips, no commission.
• Leverage Options: Up to 1:500.
• Key Features: Ideal for beginners; supports micro lots (0.01).
• Target User Profile: Beginners and casual traders.
• Trading Instruments Available: Forex, commodities, indices.

1. ECN Account

• Minimum Deposit: $500
• Spread/Commission Structure: Raw spreads from 0.0 pips, commission applies.
• Leverage Options: Up to 1:200.
• Key Features: Direct market access; suitable for scalping.
• Target User Profile: Experienced traders and scalpers.
• Trading Instruments Available: Forex, commodities, cryptocurrencies.

1. Pro Account

• Minimum Deposit: $10,000
• Spread/Commission Structure: Competitive spreads, commission-based.
• Leverage Options: Up to 1:100.
• Key Features: Tailored for high-volume traders; VIP services.
• Target User Profile: Professional and institutional traders.
• Trading Instruments Available: Forex, commodities, indices, shares.

1. Islamic Account

• Minimum Deposit: $100
• Spread/Commission Structure: Similar to Standard Account, swap-free.
• Leverage Options: Up to 1:500.
• Key Features: Compliant with Islamic finance principles.
• Target User Profile: Muslim traders.
• Trading Instruments Available: Forex, commodities, indices.

1. Demo Account

• Minimum Deposit: N/A (virtual funds).
• Spread/Commission Structure: Same as Standard Account.
• Leverage Options: Same as Standard Account.
• Key Features: Practice trading without risk; access to all trading instruments.
• 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, Islamic Account

Part 2: mfpro Account Features Comparison

Detailed mfpro Account Features

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $10,000

• Islamic: $100

• Demo: N/A

• Maximum Leverage:

• Standard: 1:500

• ECN: 1:200

• Pro: 1:100

• Islamic: 1:500

• Spreads (Typical/Minimum):

• Standard: 1.2 pips

• ECN: 0.0 pips

• Pro: Competitive

• Islamic: Similar to Standard

• Commission Fees:

• Standard: None

• ECN: Yes

• Pro: Yes

• Islamic: None

• Lot Size:

• Standard: Micro (0.01)

• ECN: Standard

• Pro: Standard

• Islamic: Micro (0.01)

• Available Trading Platforms:

• Standard: MT4, MT5

• ECN: MT4, MT5

• Pro: MT4, MT5

• Islamic: MT4, MT5

• Demo: MT4, MT5

• Execution Type:

• Standard: Market

• ECN: ECN

• Pro: Market

• Islamic: Market

• Islamic Account Availability:

• Yes, for Standard and Islamic accounts.

• Swap-Free Options:

• Available for Islamic accounts.

• Demo Account Features:

• Virtual funds, access to all trading instruments.

Advantages of Each Account Type

• Standard Account:
• Easy to manage, no commission, suitable for beginners.
• ECN Account:
• Tight spreads, suitable for high-frequency trading.
• Pro Account:
• VIP services, dedicated support, suitable for large traders.
• Islamic Account:
• Compliant with Islamic principles, no swap fees.
• Demo Account:
• Risk-free trading, practice environment.

Disadvantages of Each Account Type

• Standard Account:
• Limited features for advanced traders.
• ECN Account:
• Higher minimum deposit, commission costs.
• Pro Account:
• High minimum deposit, not suitable for casual traders.
• Islamic Account:
• Limited to Muslim traders only.
• Demo Account:
• Limited duration, not suitable for real trading conditions.

Part 3: mfpro 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: Specific countries may be restricted; check the mfpro website for details.
• Identity Verification Documents Needed:
• Government-issued ID (passport or national ID).
• Proof of address (utility bill or bank statement).
• Proof of Residence Requirements: Recent documents showing your name and address.
• Additional Documentation for Professional Accounts: Financial statements may be required.

KYC/AML Compliance Procedures

• Verification of identity and address.
• Source of funds may be requested for higher deposit accounts.

Verification Time Frames

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

Part 4: mfpro Account Opening Process

Step-by-Step mfpro Account Opening Guide

1. Visit Website and Click Registration: Go to the mfpro website and select the registration option.
2. Personal Information Entry: Fill in your personal details, including name, email, and phone number.
3. Choose Account Type: Select the account type that suits your trading needs.
4. Set Trading Preferences: Specify your trading preferences, including leverage and trading instruments.
5. Document Upload: Upload necessary identification and proof of residence documents.
6. Account Verification: Wait for the verification process to complete.
7. Fund Your Account: Deposit the minimum required amount to start trading.
8. Start Trading: Access your trading platform and begin trading.

Desktop vs Mobile Registration Differences

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

Common Registration Issues and Solutions

• Issue: Document upload failure.
• Solution: Ensure documents are clear and in the correct format.
• Issue: Verification delays.
• Solution: Contact customer support for assistance.

Average Account Approval Time

• Generally, account approval takes 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: mfpro Demo Account Information

Demo Account Features and Benefits

• Allows traders to practice without financial risk.
• Access to all trading instruments available in live accounts.

How to Open a Demo Account

• Select the demo account option during the registration process.

Demo Account Limitations

• Limited duration (typically 30 days).
• Virtual funds only.

Virtual Balance Amount

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

Demo vs Live Account Differences

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

Duration/Expiry of Demo Accounts

• Typically expires after 30 days of inactivity.

Part 6: mfpro Islamic Account Details

Swap-Free/Islamic Account Availability

• Yes, Islamic accounts are available for traders who require them.

Eligibility Requirements

• Must adhere to Islamic finance principles.

Differences from Standard Accounts

• No swap fees applied on overnight positions.

How to Apply for Islamic Account

• Select the Islamic account option during registration.

Restrictions or Special Conditions

• Must provide documentation confirming eligibility for an Islamic account.

FAQs – mfpro Account Types & Opening

1. What account types does mfpro offer？

• mfpro offers Standard, ECN, Pro, Islamic, and Demo accounts.

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

• Standard: $100, ECN: $500, Pro: $10,000, Islamic: $100, Demo: N/A.

1. How long does mfpro account verification take？

• Verification typically takes 1-3 business days.

1. Does mfpro offer demo accounts？

• Yes, mfpro offers demo accounts for practice trading.

1. Can I have multiple account types with mfpro？

• Yes, you can have multiple account types.

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

• Yes, Islamic accounts are available.

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

• Government-issued ID and proof of address.

1. Can I change my account type after registration？

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