MIC markets broker Accounts

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

Part 1: mic markets Account Types Explained

Available Account Types

mic markets offers a variety of account types tailored to different trading needs:

1. Standard Account

• Minimum Deposit: $100
• Spread/Commission Structure: Spreads from 1.0 pips, no commissions
• Leverage Options: Up to 1:500
• Key Features: User-friendly interface, suitable for beginners
• Target User Profile: Beginners and casual traders
• Trading Instruments Available: Forex, commodities, indices

1. ECN Account

• Minimum Deposit: $500
• Spread/Commission Structure: Spreads from 0.0 pips, $3.50 commission per lot
• Leverage Options: Up to 1:200
• Key Features: Direct market access, low latency
• Target User Profile: Experienced traders and scalpers
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

1. Pro Account

• Minimum Deposit: $1,000
• Spread/Commission Structure: Spreads from 0.1 pips, $2.50 commission per lot
• Leverage Options: Up to 1:1000
• Key Features: Advanced trading tools, suitable for high-frequency trading
• Target User Profile: Professional traders
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

1. Islamic Account

• Minimum Deposit: $100
• Spread/Commission Structure: Similar to Standard Account, no swap fees
• Leverage Options: Up to 1:500
• Key Features: Compliant with Sharia law, swap-free
• Target User Profile: Muslim traders
• Trading Instruments Available: Forex, commodities, indices

1. Demo Account

• Minimum Deposit: Virtual balance (typically $10,000)
• Spread/Commission Structure: Same as Standard Account
• Leverage Options: Up to 1:500
• Key Features: Risk-free environment to practice trading
• Target User Profile: Beginners and traders testing strategies
• Trading Instruments Available: All instruments available in live accounts

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Part 2: mic markets Account Features Comparison

Detailed mic markets Account Features

Advantages of Each Account Type

• Standard Account:
• User-friendly for beginners
• No commission fees
• Wide range of trading instruments
• ECN Account:
• Direct market access
• Tight spreads
• Ideal for scalping
• Pro Account:
• Low commission rates
• High leverage options
• Advanced trading tools
• Islamic Account:
• Compliant with Sharia law
• No swap fees
• Suitable for Muslim traders
• Demo Account:
• Risk-free trading environment
• Practice with virtual funds
• Access to all trading instruments

Disadvantages of Each Account Type

• Standard Account:
• Higher spreads compared to ECN
• Limited advanced features
• ECN Account:
• Higher minimum deposit requirement
• Commission fees apply
• Pro Account:
• Requires higher initial investment
• More complex for beginners
• Islamic Account:
• Limited to specific trading conditions
• Not suitable for all traders
• Demo Account:
• Virtual funds may not reflect real market conditions
• Limited time for practice

Part 3: mic markets Account Registration Requirements

mic markets Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Services may not be available in certain countries (specific countries not listed).
• Prohibited Countries: Residents of the USA, Canada, and other restricted jurisdictions may not open accounts.

Identity Verification Documents Needed

• Proof of Identity: Valid government-issued ID (passport, driver's license).
• Proof of Residence: Recent utility bill, bank statement, or government document showing your name and address.

Additional Documentation for Professional Accounts

• Additional financial documents may be required for professional account types.

KYC/AML Compliance Procedures

• All clients must undergo Know Your Customer (KYC) and Anti-Money Laundering (AML) checks to verify identity and prevent fraud.

Verification Time Frames

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

Part 4: mic markets Account Opening Process

Step-by-Step mic markets Account Opening Guide

1. Visit Website and Click Registration: Go to the mic markets homepage and click on the registration button.
2. Personal Information Entry: Fill out the secure online form with your personal details (name, email, phone number).
3. Choose Account Type: Select the account type that suits your trading needs.
4. Set Trading Preferences: Specify your trading preferences and risk tolerance.
5. Document Upload: Upload required identity and residence verification documents.
6. Account Verification: Wait for the verification process to complete, which may take 1-3 business days.
7. Fund Your Account: Once verified, deposit funds into your trading account.
8. 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, but the mobile interface may have fewer features.

Common Registration Issues and Solutions

• Issue: Document upload failure.

  Solution: Ensure documents are clear and in the correct format.

• Issue: Account verification delays.

  Solution: Contact customer support for assistance.

Average Account Approval Time

• The average time for account approval is 1-3 business days, depending on the completeness of the application.

How to Upgrade/Downgrade Account Types

• Account type changes can typically be requested through customer support or the client portal.

Part 5: mic markets Demo Account Information

mic markets Demo Account Guide

Demo Account Features and Benefits

• Practice trading without financial risk.
• Access to all trading instruments available in live accounts.
• Use of virtual funds to simulate real trading conditions.

How to Open a Demo Account

• Visit the mic markets website and select the demo account option during registration.

Demo Account Limitations

• Limited time for practice (typically 30 days).
• Virtual funds may not reflect real market conditions.

Virtual Balance Amount

• Standard virtual balance is usually set at $10,000 for practice purposes.

Demo vs Live Account Differences

• Demo accounts do not involve real money and may have limited access to certain features compared to live accounts.

Duration/Expiry of Demo Accounts

• Demo accounts typically expire after 30 days of inactivity.

Part 6: mic markets Islamic Account Details

mic markets Islamic Account Details

Swap-Free/Islamic Account Availability

• mic markets offers an Islamic account option that complies with Sharia law.

Eligibility Requirements

• Traders must declare their need for an Islamic account during registration.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, making them suitable for Muslim traders.

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

• Islamic accounts may have specific trading conditions that differ from standard accounts.

FAQs – mic markets Account Types & Opening

1. What account types does mic markets offer？

• mic markets 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: $100, Demo: Virtual balance.

1. How long does mic markets account verification take？

• Account verification typically takes 1-3 business days.

1. Does mic markets offer demo accounts？

• Yes, mic markets provides demo accounts for practice trading.

1. Can I have multiple account types with mic markets？

• Yes, traders can open multiple account types as needed.

1. Does mic markets offer Islamic/swap-free accounts？

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

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

• A valid ID and proof of residence are required for account opening.

1. Can I change my account type after registration？

• Yes, account type changes can be requested through customer support or the client portal.