MJP broker Accounts

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

mjp Account Types Explained

MJP offers a variety of account types tailored to meet the needs of different traders, from beginners to advanced users. Below is an overview of the available account types, including their features, minimum deposit requirements, and target user profiles.

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.5 pips; no commissions.
• Leverage Options: Up to 1:500.
• Key Features: Basic account for retail traders; access to major currency pairs and commodities.
• Target User Profile: Beginners and casual traders.
• Trading Instruments Available: Forex, commodities, indices.

2. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Raw spreads starting from 0.1 pips; commission of $3 per lot.
• Leverage Options: Up to 1:200.
• Key Features: Direct market access; lower spreads; suitable for high-frequency trading.
• Target User Profile: Experienced traders and scalpers.
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies.

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Variable spreads from 0.5 pips; commission of $2 per lot.
• Leverage Options: Up to 1:100.
• Key Features: Enhanced trading conditions; suitable for professional traders.
• Target User Profile: Advanced traders and institutions.
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies.

4. Islamic Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Similar to Standard or ECN accounts but without swap fees.
• Leverage Options: Up to 1:500.
• Key Features: Compliant with Sharia law; no interest or swap fees.
• Target User Profile: Muslim traders seeking Sharia-compliant trading options.
• Trading Instruments Available: Forex, commodities, indices.

5. Demo Account

• Minimum Deposit Requirement: Virtual balance (typically $10,000).
• Spread/Commission Structure: Same as live accounts.
• Leverage Options: Same as live accounts.
• Key Features: Practice trading without risk; access to all trading instruments.
• Target User Profile: Beginners and traders wanting to test strategies.
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies.

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Detailed mjp Account Features

Comparison of Features Across Different Account Types

Advantages and Disadvantages of Each Account Type

Standard Account

• Advantages:
• Low minimum deposit.
• No commissions.
• Suitable for beginners.
• Disadvantages:
• Higher spreads compared to ECN.
• Limited advanced features.

ECN Account

• Advantages:
• Lower spreads.
• Direct market access.
• Suitable for scalping.
• Disadvantages:
• Higher minimum deposit.
• Commission fees apply.

Pro Account

• Advantages:
• Enhanced trading conditions.
• Lower commission fees.
• Suitable for professional traders.
• Disadvantages:
• Higher minimum deposit required.
• Limited leverage.

Islamic Account

• Advantages:
• Sharia-compliant.
• No swap fees.
• Flexible leverage options.
• Disadvantages:
• Higher minimum deposit compared to Standard.
• Limited to specific instruments.

Demo Account

• Advantages:
• Risk-free trading environment.
• Access to all trading instruments.
• Ideal for practice and strategy testing.
• Disadvantages:
• No real profits.
• Limited to virtual balance.

mjp Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents of most countries; specific restrictions may apply.
• Prohibited Countries: Countries under international sanctions or restrictions.
• 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 the current address.
• Additional Documentation for Professional Accounts: Business registration documents for corporate accounts.

KYC/AML Compliance Procedures

MJP adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring all clients to provide valid identification and proof of residence.

Verification Time Frames

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

Step-by-Step mjp Account Opening Guide

Step-by-Step Registration Process

1. Visit Website and Click Registration: Navigate to the MJP website and select the account type you wish to open.
2. Personal Information Entry: Fill in your personal details, including name, email, and phone number.
3. Choose Account Type: Select the account type that best suits your trading needs.
4. Set Trading Preferences: Indicate your trading preferences, including leverage and trading instruments.
5. Document Upload: Upload the required identification and proof of residence documents.
6. Account Verification: Wait for the MJP team to verify your documents.
7. Fund Your Account: Deposit the minimum required amount to activate your account.
8. Start Trading: Once your account is funded, you can begin trading.

Desktop vs Mobile Registration Differences

The registration process is similar on both desktop and mobile platforms, although the mobile interface may have fewer options displayed.

Common Registration Issues and Solutions

• Issue: Document upload fails.
• Solution: Ensure documents are in the correct format and within size limits.
• Issue: Verification delays.
• Solution: Contact customer support for assistance.

Average Account Approval Time

Most accounts are approved within 1 to 3 business days, depending on the volume of applications.

How to Upgrade/Downgrade Account Types

To change your account type, contact MJP customer support and provide the necessary documentation for the new account type.

mjp Demo Account Guide

Demo Account Features and Benefits

• Features: Access to all trading instruments, same trading conditions as live accounts.
• Benefits: Practice trading strategies without financial risk.

How to Open a Demo Account

• Visit the MJP website and select the demo account option.
• Fill out the registration form with your details.
• Start trading with a virtual balance.

Demo Account Limitations

• Limited to virtual funds; no real profits can be made.
• May have a time limit on usage.

Virtual Balance Amount

Typically, demo accounts come with a virtual balance of $10,000.

Demo vs Live Account Differences

Demo accounts simulate trading conditions but do not involve real money, while live accounts require actual funds and involve real trading risks.

Duration/Expiry of Demo Accounts

Demo accounts usually remain active for a limited time, often 30 days, unless extended by the broker.

mjp Islamic Account Details

Swap-Free/Islamic Account Availability

MJP offers Islamic accounts that comply with Sharia law, allowing Muslim traders to engage in trading without incurring interest.

Eligibility Requirements

To qualify for an Islamic account, clients must confirm their religious beliefs and provide necessary documentation.

Differences from Standard Accounts

Islamic accounts do not incur swap fees, making them suitable for long-term positions.

How to Apply for Islamic Account

Select the Islamic account option during the registration process and provide any additional documentation required.

Restrictions or Special Conditions

Islamic accounts may have specific restrictions on certain trading instruments or strategies.

FAQs – mjp Account Types & Opening

1. What account types does mjp offer？

• MJP 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, Demo: Virtual balance.

1. How long does mjp account verification take？

• Verification typically takes 1 to 3 business days.

1. Does mjp offer demo accounts？

• Yes, MJP offers demo accounts for practice trading.

1. Can I have multiple account types with mjp？

• Yes, clients can hold multiple account types.

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

• Yes, MJP provides Islamic accounts that are swap-free.

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

• A government-issued ID and proof of residence are required.

1. Can I change my account type after registration？

• Yes, you can change your account type by contacting customer support.