Open Markets broker Accounts

OpenMarkets Account Type

OpenMarkets offers several types of accounts tailored to different trading needs and investor profiles. Below are the primary account types available:

• Classic Account: Best for casual traders.
• Availability: Under CYSEC, FCA, ASIC, BVI FSC, FSCA.
• Markets: Forex, indices, commodities, shares, bonds, blends, ETFs, and crypto (2000+ assets).
• Commissions: Spreads from 0.6 pips on Forex; rollover fees if positions are held overnight.
• Trade Size: From 1 micro lot.
• Leverage: Up to 1:30 (CYSEC, FCA, ASIC); up to 300:1 (BVI FSC, FSCA).
• Account Opening: Minimum deposit of $100.
• Premium Account: Best for experienced traders.
• Availability: Under CYSEC, FCA, ASIC, BVI FSC, FSCA.
• Markets: Same as Classic Account.
• Commissions: Similar to Classic Account.
• Trade Size: From 1 micro lot.
• Leverage: Up to 1:30 (CYSEC, FCA, ASIC); up to 300:1 (BVI FSC, FSCA).
• Account Opening: Minimum deposit of $100.
• Professional Account: Best for high-volume traders.
• Availability: Under CYSEC, FCA, ASIC.
• Markets: Same as Classic Account.
• Commissions: Spreads from 0.6 pips on Forex; rollover fees if positions are held overnight.
• Trade Size: From 1 micro lot.
• Leverage: Up to 1:100.
• Account Opening: Requires opening a retail account first with a $100 minimum deposit.
• Islamic Account: Best for Muslim traders.
• Availability: Under CYSEC, FCA, ASIC, BVI FSC, FSCA.
• Markets: Same as Classic Account.
• Commissions: Spreads from 0.6 pips on Forex.
• Leverage: Up to 1:30 (CYSEC, FCA, ASIC); up to 1:300 (BVI FSC, FSCA).
• Account Opening: Requires a minimum deposit of $100.

OpenMarkets Broker Account Opening Process

Opening a broker account at OpenMarkets is a straightforward process that typically takes about one day. Here are the steps involved:

• Registration:
• Visit the OpenMarkets website and fill out the registration form.
• Provide personal and financial information, including your trading experience.
• Identity Verification:
• Upload documents to verify your identity (e.g., national ID, passport, or driver's license).
• Provide proof of residency (e.g., utility bill or bank statement).
• Trading Experience Survey:
• Complete a survey regarding your trading experience to assess your financial knowledge.
• Account Type Selection:
• Choose the account type that best suits your trading needs and select a base currency.
• Funding Your Account:
• Fund your account with a minimum deposit of $100 using various methods such as bank transfers.
• Approval:
• After successful verification and funding, your account will be approved, allowing you to start trading.

For more information, you can visit OpenMarkets Financial Services Guide.