Paragon broker Accounts

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

Part 1: paragon Account Types Explained

Paragon offers a variety of account types tailored to meet the needs of different traders. Below is an overview of the available account types, their features, and target user profiles.

Available Account Types

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.5 pips
• 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

1. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Raw spreads from 0.0 pips + $3 commission per lot
• Leverage Options: Up to 1:200
• Key Features: Direct market access, faster execution speeds
• Target User Profile: Experienced traders and scalpers
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

1. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Fixed spreads starting from 1.0 pip
• Leverage Options: Up to 1:300
• Key Features: Advanced trading tools, priority customer support
• Target User Profile: Professional traders and institutions
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

1. Islamic Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Similar to Standard or ECN accounts, but swap-free
• Leverage Options: Up to 1:200
• Key Features: No swap fees, compliant with Sharia law
• Target User Profile: Muslim traders seeking compliant trading options
• Trading Instruments Available: Forex, commodities, indices

1. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds)
• Spread/Commission Structure: Same as Standard account
• Leverage Options: Up to 1:500
• Key Features: Practice trading with virtual funds, access to all trading instruments
• Target User Profile: Beginners and traders looking to test strategies
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Part 2: Detailed paragon Account Features

Features Comparison Across Different Account Types

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $500

• Demo: N/A

• Maximum Leverage:

• Standard: 1:500

• ECN: 1:200

• Pro: 1:300

• Islamic: 1:200

• Demo: 1:500

• Spreads (Typical/Minimum):

• Standard: 1.5 pips

• ECN: 0.0 pips (raw)

• Pro: 1.0 pip

• Islamic: Variable (similar to Standard)

• Demo: Same as Standard

• Commission Fees:

• Standard: None

• ECN: $3 per lot

• Pro: None

• Islamic: None

• Demo: None

• Lot Size:

• Standard: Micro, Mini, Standard

• ECN: Micro, Mini, Standard

• Pro: 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: ECN

• Pro: Instant

• Islamic: Market

• Demo: Market

• Islamic Account Availability:

• Standard: No

• ECN: No

• Pro: No

• Islamic: Yes

• Demo: No

• Swap-Free Options:

• Standard: No

• ECN: No

• Pro: No

• Islamic: Yes

• Demo: No

• Demo Account Features:

• Virtual balance for practice, access to all instruments, same spreads as Standard account.

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit

• Suitable for beginners

• Access to all trading instruments

• ECN Account:

• Raw spreads for lower trading costs

• Fast execution speeds

• Ideal for scalping strategies

• Pro Account:

• Fixed spreads for predictable costs

• Advanced trading tools

• Priority support for professional traders

• Islamic Account:

• Compliant with Sharia law

• No swap fees

• Access to all trading instruments

• Demo Account:

• Risk-free trading environment

• Ideal for strategy testing

• Familiarization with trading platforms

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN

• Limited advanced features

• ECN Account:

• Higher minimum deposit

• Commission fees can add up

• Pro Account:

• Requires higher initial investment

• Less suitable for casual traders

• Islamic Account:

• Limited availability for non-Muslim traders

• May have fewer features than other accounts

• Demo Account:

• Virtual funds do not reflect real market conditions

• Limited duration for practice

Part 3: paragon Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents of most countries, but specific restrictions may apply.
• Prohibited Countries: Countries under sanctions or restrictions may be prohibited.
• Identity Verification Documents Needed: Government-issued ID (passport or drivers license).
• Proof of Residence Requirements: Utility bill or bank statement showing your name and address.
• Additional Documentation for Professional Accounts: May require financial statements or proof of trading experience.

KYC/AML Compliance Procedures

• Paragon adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring all clients to verify their identity and residence before account activation.

Verification Time Frames

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

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

Detailed Step-by-Step Registration Process

1. Visit Website and Click Registration: Go to the Paragon official website and click on the "Open Account" button.
2. Personal Information Entry: Fill out the registration form with 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: Specify your trading preferences, including leverage and trading instruments.
5. Document Upload: Upload the required identity verification and proof of residence documents.
6. Account Verification: Wait for the Paragon team to verify your documents.
7. Fund Your Account: Once verified, fund your account using your preferred payment method.
8. 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, but mobile users may find the interface more streamlined for quick entry.

Common Registration Issues and Solutions

• Issue: Document rejection due to poor quality.

• Solution: Ensure all documents are clear and legible before uploading.

• Issue: Delays in verification.

• Solution: Contact customer support for updates on your application status.

Average Account Approval Time

• The average account approval time is 1-3 business days, depending on the completeness of your application.

How to Upgrade/Downgrade Account Types

• To upgrade or downgrade your account type, contact Paragon customer support for assistance in processing the change.

Part 5: paragon Demo Account Guide

Demo Account Features and Benefits

• The demo account allows traders to practice trading without financial risk, using virtual funds to simulate real market conditions.

How to Open a Demo Account

• Visit the Paragon website and select the option to open a demo account. Follow the registration steps similar to opening a live account.

Demo Account Limitations

• The demo account may have a limited duration, typically expiring after 30 days unless extended.

Virtual Balance Amount

• The demo account usually comes with a virtual balance of $10,000 or more, depending on the broker's offering.

Demo vs Live Account Differences

• The demo account uses virtual funds, while the live account involves real money and actual market conditions.

Duration/Expiry of Demo Accounts

• Demo accounts typically expire after 30 days but may be extended upon request.

Part 6: paragon Islamic Account Details

Swap-Free/Islamic Account Availability

• Paragon offers Islamic accounts that comply with Sharia law, providing a swap-free trading environment.

Eligibility Requirements

• Traders must declare their need for an Islamic account and may need to provide additional documentation.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, making them suitable for Muslim traders.

How to Apply for Islamic Account

• To apply, select the Islamic account option during the registration process and provide necessary documentation.

Restrictions or Special Conditions

• Islamic accounts may have specific trading conditions or restrictions, such as limited leverage.

FAQs – paragon Account Types & Opening

1. What account types does paragon offer？

• Paragon 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: N/A.

1. How long does paragon account verification take？

• Verification typically takes 1-3 business days.

1. Does paragon offer demo accounts？

• Yes, paragon offers demo accounts for practice trading.

1. Can I have multiple account types with paragon？

• Yes, traders can open multiple account types.

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

• Yes, paragon offers Islamic accounts that are swap-free.

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

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

1. Can I change my account type after registration？

• Yes, you can upgrade or downgrade your account type by contacting customer support.