MPM broker Accounts

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

mpm Account Types Explained

mpm offers several account types tailored to meet the needs of different traders. Below is a detailed overview of each account type available:

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.0 pips; no commission.
• Leverage Options: Up to 1:500.
• Key Features: Basic trading tools, access to all trading instruments.
• 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 0.0 pips; commission of $3 per lot.
• Leverage Options: Up to 1:200.
• Key Features: Direct market access, lower spreads, faster execution.
• 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: Spreads starting from 0.5 pips; commission of $2 per lot.
• Leverage Options: Up to 1:400.
• Key Features: Advanced trading tools, priority customer support.
• Target User Profile: Professional traders and institutions.
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies.

4. Islamic Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Similar to Standard Account; no swap fees.
• Leverage Options: Up to 1:500.
• Key Features: Complies with Sharia law; no interest charges.
• Target User Profile: Muslim traders seeking compliant trading options.
• Trading Instruments Available: Forex, commodities, indices.

5. Demo Account

• Minimum Deposit Requirement: Virtual funds (typically $10,000).
• Spread/Commission Structure: Same as Standard Account.
• Leverage Options: Up to 1:500.
• Key Features: Practice trading without risk, access to all trading instruments.
• Target User Profile: Beginners and those looking to test strategies.
• Trading Instruments Available: Forex, commodities, indices.

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Detailed mpm Account Features

Features Comparison Across Different Account Types

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $100

• Demo: Virtual funds

• Maximum Leverage:

• Standard: 1:500

• ECN: 1:200

• Pro: 1:400

• Islamic: 1:500

• Spreads (Typical/Minimum):

• Standard: 1.0 pips

• ECN: 0.0 pips

• Pro: 0.5 pips

• Islamic: 1.0 pips

• Commission Fees:

• Standard: None

• ECN: $3 per lot

• Pro: $2 per lot

• Islamic: None

• Lot Size:

• Standard: Mini and Standard

• ECN: Micro, Mini, and Standard

• Pro: Mini and Standard

• Islamic: Mini and Standard

• Available Trading Platforms:

• All accounts: MT4 and MT5.

• Execution Type:

• Standard: Market

• ECN: ECN

• Pro: Market

• Islamic: Market

• Islamic Account Availability: Yes for Islamic accounts.

• Swap-Free Options: Available for Islamic accounts.

• Demo Account Features: Unlimited access to virtual funds, full trading capabilities.

Advantages and Disadvantages of Each Account Type

Standard Account

• Advantages:

• Low minimum deposit.

• No commission fees.

• Suitable for beginners.

• Disadvantages:

• Higher spreads compared to ECN accounts.

  Limited advanced features.

ECN Account

• Advantages:

• Tight spreads.

• Direct market access.

• Ideal for scalping.

• Disadvantages:

• Higher minimum deposit.

  Commission fees apply.

Pro Account

• Advantages:

• Competitive spreads and low commissions.

  Advanced trading tools.

• Disadvantages:

• Higher minimum deposit.

  More suited for experienced traders.

Islamic Account

• Advantages:

• Complies with Sharia law.

  No swap fees.

• Disadvantages:

• Limited availability of certain trading strategies.

Demo Account

• Advantages:

• Risk-free trading environment.

  Ideal for practice and strategy testing.

• Disadvantages:

• Virtual funds may not reflect real trading conditions.

mpm Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to traders in most countries; specific restrictions may apply.
• Prohibited Countries: Countries under sanctions or restrictions may not be eligible.
• Identity Verification Documents Needed: Government-issued ID (passport or drivers license).
• Proof of Residence Requirements: Utility bill or bank statement with the applicant's name and address.
• Additional Documentation for Professional Accounts: Proof of trading experience or financial status may be required.

KYC/AML Compliance Procedures

• mpm adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. All applicants must provide valid identification and proof of residence.

Verification Time Frames

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

Step-by-Step mpm Account Opening Guide

Registration Process

1. Visit the Website: Go to the official mpm website.
2. Click Registration: Find and click on the "Open Account" button.
3. Personal Information Entry: Fill in your personal details including name, email, and phone number.
4. Choose Account Type: Select the account type you wish to open.
5. Set Trading Preferences: Indicate your trading preferences and leverage options.
6. Document Upload: Upload required identity verification and proof of residence documents.
7. Account Verification: Wait for the verification process to complete.
8. Fund Your Account: Deposit the required minimum amount to start trading.
9. Start Trading: Access your trading platform and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms; however, the mobile interface may have simplified steps for ease of use.

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

• Typically, account approval takes 1-3 business days, depending on document verification.

How to Upgrade/Downgrade Account Types

• Account type changes can be requested through customer support after initial registration.

mpm Demo Account Guide

Demo Account Features and Benefits

• Provides a risk-free environment to practice trading.
• Access to all trading instruments and features available in live accounts.

How to Open a Demo Account

• Follow the same registration steps as for a live account, selecting "Demo Account" during the account type selection.

Demo Account Limitations

• Virtual funds are limited to a set amount (typically $10,000).
• No real profits can be made.

Virtual Balance Amount

• Standard virtual balance is usually $10,000.

Demo vs Live Account Differences

• Demo accounts use virtual funds, while live accounts require real money deposits.

Duration/Expiry of Demo Accounts

• Demo accounts typically remain active for 30 days, but this may vary by broker.

mpm Islamic Account Details

Swap-Free/Islamic Account Availability

• Yes, mpm offers Islamic accounts that comply with Sharia law.

Eligibility Requirements

• Must be a Muslim trader seeking a compliant trading environment.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, which are typically charged overnight.

How to Apply for Islamic Account

• Select the Islamic account option during the registration process.

Restrictions or Special Conditions

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

FAQs – mpm Account Types & Opening

1. What account types does mpm offer？

• mpm 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 funds.

1. How long does mpm account verification take？

• Verification typically takes 1-3 business days.

1. Does mpm offer demo accounts？

• Yes, mpm provides demo accounts for practice trading.

1. Can I have multiple account types with mpm？

• Yes, traders can have multiple account types.

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

• Yes, mpm offers Islamic accounts that comply with Sharia law.

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

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

1. Can I change my account type after registration？

• Yes, you can request to change your account type through customer support.