ORACO broker Accounts

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

Part 1: oraco Account Types Overview

oraco Account Types Explained

Oraco offers several account types tailored to different trading needs and experience levels. Below is a detailed overview of each account type:

Recommended Account Types by Trader Level

• Beginners: Standard Account
• Intermediate Traders: ECN Account
• Advanced Traders: Pro Account
• Muslim Traders: Islamic Account
• All Levels: Demo Account for practice

Part 2: oraco Account Features Comparison

Detailed oraco Account Features

Advantages and Disadvantages of Each Account Type

Standard Account

• Advantages:
• Low minimum deposit
• Fixed spreads
• Suitable for beginners
• Disadvantages:
• Limited advanced features
• Higher spreads compared to ECN

ECN Account

• Advantages:
• Direct market access
• Variable spreads can be lower
• Suitable for high-frequency trading
• Disadvantages:
• Higher minimum deposit
• Commission fees apply

Pro Account

• Advantages:
• Low spreads and commissions
• Advanced trading tools
• Priority customer support
• Disadvantages:
• High minimum deposit
• More complex for beginners

Islamic Account

• Advantages:
• Compliant with Sharia law
• No swap fees
• Disadvantages:
• Limited to Muslim traders
• Similar features to Standard Account

Demo Account

• Advantages:
• Risk-free trading environment
• Ideal for practice and strategy testing
• Disadvantages:
• Limited to virtual funds
• No real market experience

Part 3: oraco Account Opening Requirements

oraco Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available in most countries; specific restrictions may apply.
• Prohibited Countries: Check oracos website for a list of prohibited countries.
• Identity Verification Documents Needed:
• Valid government-issued ID (passport or national ID)
• Proof of income (salary slip or bank statement)
• Proof of Residence Requirements: Recent utility bill or bank statement showing your address.
• Additional Documentation for Professional Accounts: May require additional financial documentation.

KYC/AML Compliance Procedures

• All applicants must complete Know Your Customer (KYC) and Anti-Money Laundering (AML) checks.
• Verification typically involves document submission and may require a video call for identity confirmation.

Verification Time Frames

• Account verification can take 2-3 business days, depending on the completeness of the submitted documents.

Part 4: oraco Account Opening Process

Step-by-Step oraco Account Opening Guide

1. Visit Website and Click Registration: Go to the oraco homepage and click on the "Open Account" button.
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 and risk tolerance.
5. Document Upload: Upload the required identity verification documents.
6. Account Verification: Wait for the account to be verified by oracos compliance team.
7. Fund Your Account: Once verified, fund your account using your preferred payment method.
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, but mobile users may have a more streamlined experience.

Common Registration Issues and Solutions

• Issue: Document upload fails.
• Solution: Ensure documents are clear and meet the required format.
• Issue: Verification delays.
• Solution: Contact customer support for assistance.

Average Account Approval Time

• Typically, account approval takes 2-3 business days, depending on the volume of applications.

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: oraco Demo Account Information

oraco Demo Account Guide

Demo Account Features and Benefits

• Practice trading without financial risk.
• Access to real market conditions with virtual funds.

How to Open a Demo Account

• Visit the oraco website and select the demo account option.
• Fill in the required information and create your demo account.

Demo Account Limitations

• Limited to virtual funds; cannot be used for real trading.
• May have a time limit on usage.

Virtual Balance Amount

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

Demo vs Live Account Differences

• Demo accounts use virtual funds while live accounts involve real money.
• Live accounts may have different spreads and commissions.

Duration/Expiry of Demo Accounts

• Demo accounts usually expire after 30 days, but this may vary based on oracos policies.

Part 6: oraco Islamic Account (if available)

oraco Islamic Account Details

Swap-free/Islamic Account Availability

• oraco offers Islamic accounts that comply with Sharia law.

Eligibility Requirements

• Must be a practicing Muslim to qualify for an Islamic account.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, making them compliant with Islamic finance principles.

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 similar features to standard accounts but are specifically designed for Muslim traders.

FAQs – oraco Account Types & Opening

1. What account types does oraco offer？

• Oraco 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.

1. How long does oraco account verification take？

• Verification typically takes 2-3 business days.

1. Does oraco offer demo accounts？

• Yes, oraco provides demo accounts for practice trading.

1. Can I have multiple account types with oraco？

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

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

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

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

• A valid ID, proof of income, and proof of residence are required.

1. Can I change my account type after registration？

• Yes, you can request to upgrade or downgrade your account type through your account settings.