Parekh broker Accounts

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

Part 1: parekh Account Types Overview

parekh Account Types Explained

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: Ideal for beginners, offers access to a wide range of trading instruments.
• Target User Profile: Beginners and retail traders
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

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, suitable for high-frequency traders.
• Target User Profile: Advanced traders and professionals
• Trading Instruments Available: Forex, commodities, indices

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Competitive spreads, commission varies based on trading volume
• Leverage Options: Up to 1:100
• Key Features: Tailored for professional traders with advanced trading tools.
• Target User Profile: Institutional traders and professionals
• Trading Instruments Available: Forex, commodities, indices, stocks

4. Islamic Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Similar to Standard and ECN accounts, but without swap fees
• Leverage Options: Up to 1:200
• Key Features: Complies with Sharia law, no interest on overnight positions.
• Target User Profile: Muslim traders seeking compliance with Islamic finance principles
• Trading Instruments Available: Forex, commodities, indices

5. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds)
• Spread/Commission Structure: Same as Standard account
• Leverage Options: Same as Standard account
• 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

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

Part 2: parekh Account Features Comparison

Detailed parekh Account Features

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $500

• Demo: N/A

• Maximum Leverage:

• Standard: Up to 1:500

• ECN: Up to 1:200

• Pro: Up to 1:100

• Islamic: Up to 1:200

• Demo: Same as Standard

• Spreads (Typical/Minimum):

• Standard: From 1.0 pips

• ECN: From 0.0 pips

• Pro: Competitive

• Islamic: Similar to Standard

• Demo: Same as Standard

• Commission Fees:

• Standard: N/A

• ECN: $3 per lot

• Pro: Varies based on volume

• Islamic: N/A

• Demo: N/A

• Lot Size:

• Standard: Standard lots

• ECN: Micro, Mini, Standard

• Pro: Standard lots

• Islamic: Standard lots

• Demo: Standard lots

• Available Trading Platforms:

• Standard: MT4, MT5

• ECN: MT4, MT5

• Pro: MT4, MT5

• Islamic: MT4, MT5

• Demo: MT4, MT5

• Execution Type:

• Standard: Market execution

• ECN: ECN execution

• Pro: Market execution

• Islamic: Market execution

• Demo: Market execution

• 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 to practice trading

• Access to all trading instruments

• Same features as live accounts

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit

• User-friendly for beginners

• Access to a wide range of instruments

• ECN Account:

• Direct market access

• Lower spreads

• Ideal for high-frequency trading

• Pro Account:

• Tailored for professionals

• Advanced trading tools

• Competitive commission structure

• Islamic Account:

• Complies with Sharia law

• No overnight interest

• Suitable for Muslim traders

• Demo Account:

• Risk-free trading environment

• Practice strategies without financial risk

• Access to all trading features

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN

• Limited advanced features

• ECN Account:

• Higher minimum deposit

• Commission fees may apply

• Pro Account:

• High minimum deposit

• Complex for beginners

• Islamic Account:

• Limited availability

• May have higher spreads

• Demo Account:

• No real financial gain

• Limited duration for practice

Part 3: parekh Account Opening Requirements

parekh Account Registration Requirements

Eligibility Criteria:

• Age Requirements: Minimum age of 18 years
• Geographic Restrictions: Available to residents of most countries, specific restrictions may apply
• Prohibited Countries: Countries under international sanctions or restrictions

Identity Verification Documents Needed:

• Government-issued ID (Passport, National ID)
• Proof of address (Utility bill, bank statement)

Proof of Residence Requirements:

• Recent utility bill or bank statement showing name and address

Additional Documentation for Professional Accounts:

• Business registration documents (for corporate accounts)
• Proof of trading experience (for Pro accounts)

KYC/AML Compliance Procedures

• Complete the Know Your Customer (KYC) form
• Submit required identification and proof of address documents
• Verification of documents may take 1-3 business days

Verification Time Frames

• Standard accounts: 1-2 business days
• Professional accounts: 2-3 business days

Part 4: parekh Account Opening Process

Step-by-Step parekh Account Opening Guide

1. Visit the Website: Go to the official parekh website.
2. Click Registration: Locate and click the "Register" button.
3. Personal Information Entry: Fill in 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: Specify trading preferences and leverage options.
6. Document Upload: Upload required identification and proof of address documents.
7. Account Verification: Wait for account verification, which may take 1-3 business days.
8. Fund Your Account: Once verified, deposit funds into your account to start trading.

Desktop vs Mobile Registration Differences

• Desktop registration may provide more detailed options and features.
• Mobile registration is streamlined for quick access and entry.

Common Registration Issues and Solutions

• Issue: Document upload failure
• Solution: Ensure documents are in the correct format and size.
• Issue: Verification delays
• Solution: Contact customer support for assistance.

Average Account Approval Time

• Typically ranges from 1 to 3 business days, depending on the account type and completeness of documentation.

How to Upgrade/Downgrade Account Types

• Contact customer support to request an upgrade or downgrade.
• Follow the instructions provided for any additional documentation required.

Part 5: parekh Demo Account Information

parekh Demo Account Guide

Demo Account Features and Benefits:

• Access to all trading instruments with virtual funds
• Practice trading strategies without financial risk
• User-friendly interface similar to live accounts

How to Open a Demo Account:

• Visit the parekh website and select the demo account option.
• Fill in the required information and submit the application.

Demo Account Limitations:

• Limited duration (typically 30-90 days)
• Virtual funds only, no real trading profits

Virtual Balance Amount:

• Usually set at $10,000 or equivalent in virtual currency.

Demo vs Live Account Differences:

• Demo accounts use virtual funds; live accounts use real money.
• Demo accounts may not reflect real market conditions.

Duration/Expiry of Demo Accounts:

• Demo accounts typically expire after 30-90 days of inactivity.

Part 6: parekh Islamic Account Details

parekh Islamic Account Details

Swap-Free/Islamic Account Availability:

• Yes, available for traders who require compliance with Islamic finance principles.

Eligibility Requirements:

• Must be a Muslim trader seeking a swap-free trading environment.

Differences from Standard Accounts:

• No swap fees on overnight positions
• Similar trading conditions as Standard accounts

How to Apply for Islamic Account:

• Select the Islamic account option during registration.
• Provide necessary documentation to verify eligibility.

Restrictions or Special Conditions:

• Must comply with Sharia law; no interest-based transactions.

FAQs – parekh Account Types & Opening

1. What account types does parekh offer？

• parekh 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 parekh account verification take？

• Verification typically takes 1-3 business days.

1. Does parekh offer demo accounts？

• Yes, parekh offers demo accounts for practice trading.

1. Can I have multiple account types with parekh？

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

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

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

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

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

1. Can I change my account type after registration？

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