MMF broker Accounts

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

Part 1: mmf Account Types Explained

Available Account Types

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.0 pips
• Leverage Options: Up to 1:500
• Key Features: Access to all trading instruments, educational resources, and customer support.
• Target User Profile: Beginners and intermediate traders.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

1. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Raw spreads starting from 0.0 pips with a commission of $5 per lot.
• Leverage Options: Up to 1:200
• Key Features: Direct market access, lower spreads, and faster execution.
• Target User Profile: Advanced traders and scalpers.
• Trading Instruments Available: Forex and commodities.

1. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Fixed spreads starting from 1.5 pips.
• Leverage Options: Up to 1:100
• Key Features: Advanced trading tools, dedicated account manager, and priority support.
• Target User Profile: Professional traders and institutional clients.
• Trading Instruments Available: Forex, commodities, indices, and CFDs.

1. Islamic Account

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

1. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds)
• Spread/Commission Structure: Simulated spreads.
• Leverage Options: Up to 1:500
• Key Features: Practice trading with virtual money, access to all trading instruments.
• Target User Profile: Beginners and those testing strategies.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginners: Standard Account, Demo Account
• Intermediate: Standard Account, Islamic Account
• Advanced: ECN Account
• Professional: Pro Account

Part 2: Detailed mmf Account Features

Feature Comparison Across Account Types

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $100

• Demo: N/A

• Maximum Leverage:

• Standard: 1:500

• ECN: 1:200

• Pro: 1:100

• Islamic: 1:500

• Demo: 1:500

• Spreads:

• Standard: Variable from 1.0 pips

• ECN: Raw from 0.0 pips

• Pro: Fixed from 1.5 pips

• Islamic: Variable similar to Standard

• Demo: Simulated

• Commission Fees:

• Standard: None

• ECN: $5 per lot

• Pro: None

• Islamic: None

• Demo: None

• Lot Size:

• Standard: Micro, Mini, Standard

• ECN: Micro, Mini, Standard

• Pro: Mini, Standard

• Islamic: Micro, Mini, Standard

• Demo: Micro, Mini, Standard

• Available Trading Platforms:

• Standard: MT4, MT5

• ECN: MT4, MT5

• Pro: MT4, MT5

• Islamic: MT4, MT5

• Demo: MT4, MT5

• Execution Type:

• Standard: Market

• ECN: Instant

• Pro: Market

• Islamic: Market

• Demo: Market

• Islamic Account Availability:

• Standard: Yes

• ECN: Yes

• Pro: Yes

• Islamic: N/A

• Demo: N/A

• Swap-Free Options:

• Standard: Yes

• ECN: Yes

• Pro: Yes

• Islamic: N/A

• Demo: N/A

• Demo Account Features:

• Virtual balance for practice trading.

• Access to all trading instruments.

• No time limit on usage.

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit.

• Access to educational resources.

• Suitable for beginners.

• ECN Account:

• Tight spreads and low commissions.

• Direct market access.

• Ideal for scalping and high-frequency trading.

• Pro Account:

• Advanced trading tools.

• Personalized support.

• Suitable for professional traders.

• Islamic Account:

• Compliance with Sharia law.

• No swap fees.

• Suitable for Muslim traders.

• Demo Account:

• Risk-free trading environment.

• Ideal for testing strategies.

• No financial commitment.

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN.

• Limited advanced features.

• ECN Account:

• Higher minimum deposit.

• Commission fees may add up.

• Pro Account:

• High minimum deposit.

• Limited to professional traders.

• Islamic Account:

• Limited availability for some trading instruments.

• May have restrictions on certain trading strategies.

• Demo Account:

• No real money involved.

• May not reflect real market conditions.

Part 3: mmf Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents in most countries, but may be restricted in certain jurisdictions.
• Prohibited Countries: Specific countries may be restricted due to regulatory compliance (details not specified).

Identity Verification Documents Needed

• Proof of Identity: Government-issued ID (passport, drivers license).
• Proof of Residence: Utility bill, bank statement, or government document showing your name and address.

Additional Documentation for Professional Accounts

• Business registration documents for corporate accounts.
• Tax identification number (TIN) for tax purposes.

KYC/AML Compliance Procedures

• All applicants must complete Know Your Customer (KYC) and Anti-Money Laundering (AML) checks.
• Verification of identity and residence documents is mandatory.

Verification Time Frames

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

Part 4: Step-by-Step mmf Account Opening Guide

Registration Process

1. Visit Website: Go to the mmf official website.
2. Click Registration: Locate and click the “Open Account” or “Register” button.
3. Personal Information Entry: Fill in required personal details such as name, email, and phone number.
4. Choose Account Type: Select the desired account type from the available options.
5. Set Trading Preferences: Indicate your trading preferences and risk tolerance.
6. Document Upload: Upload required identity verification documents.
7. Account Verification: Wait for the verification process to complete.
8. Fund Your Account: Deposit funds into your account to start trading.
9. Start Trading: Access your trading platform and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is generally similar on both desktop and mobile platforms, though mobile may have a more streamlined interface.

Common Registration Issues and Solutions

• Issue: Document upload failure.
• 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

• Typically, account approval takes between 1-3 business days, depending on the verification process.

How to Upgrade/Downgrade Account Types

• Log into your account and navigate to the account settings section to request an upgrade or downgrade.

Part 5: mmf Demo Account Guide

Demo Account Features and Benefits

• Features: Access to all trading instruments, virtual funds for practice, and no time limit on usage.
• Benefits: Allows traders to practice strategies without financial risk.

How to Open a Demo Account

• Follow the same registration steps as for a live account but select the demo option.

Demo Account Limitations

• Limited to virtual trading; no real money involved.

Virtual Balance Amount

• Typically set at a predetermined amount (e.g., $10,000) for practice.

Demo vs Live Account Differences

• Demo accounts do not involve real money and may not reflect actual market conditions.

Duration/Expiry of Demo Accounts

• Demo accounts usually do not expire but may have limitations based on inactivity.

Part 6: mmf Islamic Account Details

Swap-Free/Islamic Account Availability

• Islamic accounts are available for traders who require compliance with Sharia law.

Eligibility Requirements

• Must provide documentation confirming the need for an Islamic account.

Differences from Standard Accounts

• No swap fees applied to overnight positions.

How to Apply for Islamic Account

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

Restrictions or Special Conditions

• May have limitations on certain trading instruments or strategies.

FAQs – mmf Account Types & Opening

1. What account types does mmf offer？

• mmf 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: N/A.

1. How long does mmf account verification take？

• Verification typically takes 1-3 business days.

1. Does mmf offer demo accounts？

• Yes, mmf offers demo accounts for practice trading.

1. Can I have multiple account types with mmf？

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

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

• Yes, mmf provides Islamic accounts that comply with Sharia law.

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

• You need a government-issued 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 your account settings.