Milennium broker Accounts

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

milennium Account Types Explained

Milennium offers a variety of account types tailored to different trading needs and experience levels. Below are the primary account types available:

1. Basic Account

• Minimum Deposit: $50
• Spread/Commission Structure: From 0.8 pips, no commission on forex pairs
• Leverage Options: Up to 1:200
• Key Features: Access to MQL5 Group trading signals, market execution
• Target User Profile: Beginners and inexperienced traders
• Trading Instruments Available: Forex, CFDs, indices, metals, and energy

2. Standard Account

• Minimum Deposit: $100
• Spread/Commission Structure: Variable spreads, commission may apply based on trading volume
• Leverage Options: Up to 1:500
• Key Features: Personal account manager, advanced trading tools
• Target User Profile: Intermediate traders
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies

3. ECN Account

• Minimum Deposit: $500
• Spread/Commission Structure: Raw spreads from 0.0 pips, commission applies
• Leverage Options: Up to 1:100
• Key Features: Direct market access, lower spreads, suitable for high-frequency trading
• Target User Profile: Advanced traders and institutions
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies

4. Islamic Account

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

5. Demo Account

• Minimum Deposit: Virtual funds (typically $10,000)
• Spread/Commission Structure: Mimics live account spreads
• Leverage Options: Same as live accounts
• Key Features: Practice trading without risk, access to all trading instruments
• Target User Profile: Beginners and traders testing strategies
• Trading Instruments Available: Forex, CFDs, indices, metals, and energy

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginners: Basic Account, Demo Account
• Intermediate Traders: Standard Account
• Advanced Traders: ECN Account
• Muslim Traders: Islamic Account

Detailed milennium Account Features

Feature Comparison Across Different Account Types

• Minimum Deposit:

• Basic: $50

• Standard: $100

• ECN: $500

• Islamic: $100

• Demo: Virtual funds

• Maximum Leverage:

• Basic: 1:200

• Standard: 1:500

• ECN: 1:100

• Islamic: 1:500

• Spreads:

• Basic: From 0.8 pips

• Standard: Variable

• ECN: From 0.0 pips

• Islamic: Similar to Standard

• Commission Fees:

• Basic: No

• Standard: May apply

• ECN: Yes

• Islamic: No

• Lot Size:

• Basic: 0.01 Lot

• Standard: 0.01 Lot

• ECN: 0.01 Lot

• Islamic: 0.01 Lot

• Available Trading Platforms:

• Basic: MT5, WebTrader, Mobile

• Standard: MT4, MT5

• ECN: MT4, MT5

• Islamic: MT4, MT5

• Demo: MT4, MT5

• Execution Type:

• Basic: Market Execution

• Standard: Market Execution

• ECN: ECN Execution

• Islamic: Market Execution

• Islamic Account Availability:

• Basic: No

• Standard: No

• ECN: No

• Islamic: Yes

• Swap-Free Options:

• Basic: No

• Standard: No

• ECN: No

• Islamic: Yes

• Demo Account Features:

• Available for all account types, with virtual funds for practice.

Advantages of Each Account Type

• Basic Account:
• Low minimum deposit
• Access to trading signals
• No commission on forex pairs
• Standard Account:
• Higher leverage
• Personal account manager
• Advanced trading tools
• ECN Account:
• Direct market access
• Lower spreads
• Suitable for high-frequency trading
• Islamic Account:
• Compliance with Sharia law
• No swap fees
• Similar features to Standard Account
• Demo Account:
• Risk-free trading environment
• Access to all trading instruments
• Ideal for strategy testing

Disadvantages of Each Account Type

• Basic Account:
• Limited features compared to higher-tier accounts
• Lower leverage
• Standard Account:
• Higher minimum deposit compared to Basic
• Possible commission fees
• ECN Account:
• Higher minimum deposit
• Commission fees can increase trading costs
• Islamic Account:
• Limited to Muslim traders
• May have fewer features compared to Standard
• Demo Account:
• No real money involved
• Limited duration for practice

milennium Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents of most countries, with specific restrictions for certain jurisdictions.
• Prohibited Countries: Countries under sanctions or with high-risk profiles may be restricted.
• Identity Verification Documents Needed:
• Government-issued ID (passport or national ID)
• Proof of residence (utility bill or bank statement)
• Proof of Residence Requirements: Recent documents showing name and address.
• Additional Documentation for Professional Accounts: May include financial statements or proof of trading experience.

KYC/AML Compliance Procedures

Milennium adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. This includes verifying the identity and address of all clients before account activation.

Verification Time Frames

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

Step-by-Step milennium Account Opening Guide

Detailed Registration Process

1. Visit Website and Click Registration: Navigate to the milennium website and select the account opening option.
2. Personal Information Entry: Fill out personal details, including name, email, and contact information.
3. Choose Account Type: Select the desired account type based on trading needs.
4. Set Trading Preferences: Indicate trading preferences, including leverage and trading instruments.
5. Document Upload: Upload required 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 activate the 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, with mobile offering a more streamlined experience.

Common Registration Issues and Solutions

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

Average Account Approval Time

Typically, account approval takes 1-3 business days, depending on the documentation provided.

How to Upgrade/Downgrade Account Types

Account type changes can be requested through customer support, subject to the terms and conditions of the chosen account type.

milennium Demo Account Guide

Demo Account Features and Benefits

• Features: Access to all trading instruments, virtual funds for practice.
• Benefits: Risk-free environment for testing strategies and familiarizing with the trading platform.

How to Open a Demo Account

• Navigate to the milennium website and select the demo account option.
• Fill out the registration form and submit.

Demo Account Limitations

Demo accounts typically have a time limit and may not offer all features available in live accounts.

Virtual Balance Amount

Demo accounts usually come with a virtual balance of $10,000 or similar.

Demo vs Live Account Differences

Demo accounts do not involve real money and are intended for practice, while live accounts involve actual trading with real funds.

Duration/Expiry of Demo Accounts

Demo accounts generally expire after a set period, often 30 days, unless extended by the broker.

milennium Islamic Account Details

Swap-Free/Islamic Account Availability

Milennium offers Islamic accounts that comply with Sharia law, ensuring no swap fees are applied.

Eligibility Requirements

To qualify for an Islamic account, traders must declare their adherence to Islamic finance principles.

Differences from Standard Accounts

Islamic accounts typically have similar features to standard accounts but are structured to avoid any interest-based transactions.

How to Apply for Islamic Account

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

Restrictions or Special Conditions

Islamic accounts may have specific trading conditions, including limitations on certain trading strategies.

FAQs – milennium Account Types & Opening

1. What account types does milennium offer？

• Milennium offers Basic, Standard, ECN, Islamic, and Demo accounts.

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

• Basic: $50, Standard: $100, ECN: $500, Islamic: $100, Demo: Virtual funds.

1. How long does milennium account verification take？

• Verification typically takes 1-3 business days.

1. Does milennium offer demo accounts？

• Yes, milennium offers demo accounts for practice trading.

1. Can I have multiple account types with milennium？

• Yes, traders can hold multiple account types.

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

• Yes, Islamic accounts are available.

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

• Government-issued ID and proof of residence are required.

1. Can I change my account type after registration？

• Yes, account type changes can be requested through customer support.