PEC broker Accounts

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

pec Account Types Explained

When considering trading with a PEC (Partner Earned Credit) broker, understanding the various account types available is crucial. Each account type caters to different trading needs and preferences. Below are the primary account types offered:

1. Standard Account

• Minimum Deposit Requirement: Typically starts at $100.
• Spread/Commission Structure: Variable spreads starting from 1.0 pips; no commission.
• Leverage Options: Up to 1:500.
• Key Features: User-friendly interface, suitable for beginners.
• Target User Profile: Beginners and casual traders.
• Trading Instruments Available: Forex, commodities, indices.

2. ECN Account

• Minimum Deposit Requirement: $500.
• Spread/Commission Structure: Low spreads starting from 0.1 pips; commission applies.
• 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, cryptocurrencies.

3. Pro Account

• Minimum Deposit Requirement: $1,000.
• Spread/Commission Structure: Spreads from 0.5 pips; commission based on volume.
• Leverage Options: Up to 1:100.
• Key Features: Advanced trading tools, priority customer support.
• Target User Profile: Professional traders and institutions.
• Trading Instruments Available: Forex, commodities, indices, stocks.

4. 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: Complies with Sharia law, no overnight interest.
• Target User Profile: Muslim traders seeking compliant trading options.
• Trading Instruments Available: Forex, commodities.

5. Demo Account

• Minimum Deposit Requirement: Virtual funds (usually $10,000).
• Spread/Commission Structure: Same as Standard account.
• Leverage Options: Same as Standard account.
• Key Features: Risk-free environment to practice trading.
• Target User Profile: Beginners and traders testing strategies.
• Trading Instruments Available: All available instruments.

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Detailed pec Account Features

Comparison of Features Across Different Account Types

Advantages of Each Account Type

• Standard Account: Easy to use, no commissions, suitable for beginners.
• ECN Account: Tight spreads, fast execution, ideal for scalping.
• Pro Account: Advanced tools, tailored for professional trading.
• Islamic Account: Compliant with Islamic finance principles.
• Demo Account: Allows practice without risk, perfect for strategy testing.

Disadvantages of Each Account Type

• Standard Account: Higher spreads compared to ECN.
• ECN Account: Requires higher minimum deposit, commission fees apply.
• Pro Account: Higher minimum deposit, may not suit casual traders.
• Islamic Account: Limited availability, may have higher spreads.
• Demo Account: Limited duration, does not reflect real market conditions.

pec Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Varies by broker; check specific terms.
• Prohibited Countries: Specific countries may be restricted; consult brokers terms.
• Identity Verification Documents Needed: Government-issued ID, passport, or driver's license.
• Proof of Residence Requirements: Utility bill or bank statement with your name and address.
• Additional Documentation for Professional Accounts: May include financial statements or proof of trading experience.

KYC/AML Compliance Procedures

• All applicants must undergo Know Your Customer (KYC) and Anti-Money Laundering (AML) checks to ensure compliance with regulatory standards.

Verification Time Frames

• Account verification typically takes 1-3 business days, depending on the broker's processes and the completeness of the submitted documents.

Step-by-Step pec Account Opening Guide

Detailed Registration Process

1. Visit Website and Click Registration: Go to the broker's official website and find the registration section.
2. Personal Information Entry: Fill in your personal details such as name, email, and phone number.
3. Choose Account Type: Select the type of account you wish to open (Standard, ECN, etc.).
4. Set Trading Preferences: Indicate your trading preferences and risk tolerance.
5. Document Upload: Upload the required identification and proof of residence documents.
6. Account Verification: Wait for the broker to verify your documents.
7. Fund Your Account: Once verified, deposit the required minimum to activate your account.
8. Start Trading: Access your trading platform and begin trading.

Desktop vs Mobile Registration Differences

• Registration processes are generally similar on both desktop and mobile platforms, but mobile apps may offer a more streamlined experience.

Common Registration Issues and Solutions

• Issue: Document rejection due to poor quality.
• Solution: Ensure all documents are clear and legible before submission.
• Issue: Delays in verification.
• Solution: Contact customer support for updates.

Average Account Approval Time

• Most accounts are approved within 1-3 business days, but this can vary based on the broker and the completeness of your application.

How to Upgrade/Downgrade Account Types

• Contact customer support or use the account management section on the broker's website to request changes to your account type.

pec Demo Account Guide

Demo Account Features and Benefits

• Provides a risk-free environment to practice trading strategies without financial risk.
• Access to the same trading platform and tools as live accounts.

How to Open a Demo Account

• Follow the same registration process as for a live account, selecting the demo account option.

Demo Account Limitations

• Limited duration (typically 30-90 days).
• Virtual funds may not reflect real market conditions.

Virtual Balance Amount

• Usually set at $10,000 or similar for practice purposes.

Demo vs Live Account Differences

• Demo accounts use virtual funds and do not involve real money, while live accounts require actual deposits and involve real trading risks.

Duration/Expiry of Demo Accounts

• Demo accounts typically expire after a set period (30-90 days), but some brokers may allow extensions.

pec Islamic Account Details

Swap-Free/Islamic Account Availability

• Islamic accounts are available and comply with Sharia law, prohibiting interest (swap).

Eligibility Requirements

• Must declare the need for an Islamic account during registration.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, but may have slightly higher spreads.

How to Apply for Islamic Account

• Indicate your preference for an Islamic account during the registration process or contact customer support.

Restrictions or Special Conditions

• Some brokers may have specific conditions regarding trading instruments or account management for Islamic accounts.

FAQs – pec Account Types & Opening

1. What account types does pec offer？

• PEC 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: Virtual funds.

1. How long does pec account verification take？

• Verification typically takes 1-3 business days.

1. Does pec offer demo accounts？

• Yes, PEC offers demo accounts for practice trading.

1. Can I have multiple account types with pec？

• Yes, you can open multiple account types depending on your trading needs.

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

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

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

• Government-issued ID, proof of residence, and possibly additional documents for professional accounts.

1. Can I change my account type after registration？

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