Prabhat broker Accounts

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

prabhat Account Types Explained

Prabhat Financial Services Limited offers a variety of account types tailored to meet the diverse needs of traders. Below is an overview of the available account types:

1. Standard Account

• Minimum Deposit Requirement: ₹5,000
• Spread/Commission Structure: Variable spreads starting from 1.5 pips
• Leverage Options: Up to 1:100
• Key Features: Ideal for beginners; access to basic trading tools and resources.
• Target User Profile: Beginners and casual traders.
• Trading Instruments Available: Forex, commodities, indices.

2. ECN Account

• Minimum Deposit Requirement: ₹10,000
• Spread/Commission Structure: Tight spreads from 0.1 pips with a commission of ₹20 per lot.
• Leverage Options: Up to 1:200
• Key Features: Direct market access, faster execution speeds, suitable for high-frequency trading.
• Target User Profile: Experienced traders and scalpers.
• Trading Instruments Available: Forex, commodities, cryptocurrencies.

3. Pro Account

• Minimum Deposit Requirement: ₹25,000
• Spread/Commission Structure: Variable spreads starting from 0.5 pips with a lower commission.
• Leverage Options: Up to 1:500
• Key Features: Advanced trading tools, priority customer support, and dedicated account manager.
• Target User Profile: Professional traders and institutions.
• Trading Instruments Available: Forex, commodities, indices, and stocks.

4. Islamic Account

• Minimum Deposit Requirement: ₹10,000
• Spread/Commission Structure: Similar to the Standard Account but swap-free.
• Leverage Options: Up to 1:100
• Key Features: Compliant with Islamic finance principles; no swap fees.
• Target User Profile: Muslim traders seeking Sharia-compliant trading options.
• Trading Instruments Available: Forex, commodities.

5. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds)
• Spread/Commission Structure: Similar to the Standard Account.
• Leverage Options: Up to 1:100
• Key Features: Risk-free trading environment with virtual funds to practice trading strategies.
• Target User Profile: Beginners and traders looking to test strategies.
• Trading Instruments Available: Forex, commodities, indices.

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Detailed prabhat Account Features

Account Features Comparison

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit

• User-friendly for beginners

• Access to educational resources

• ECN Account:

• Tight spreads and low commissions

• Fast execution speeds

• Suitable for high-frequency trading

• Pro Account:

• Advanced trading tools

• Dedicated account manager

• Lower trading costs for high-volume traders

• Islamic Account:

• Compliant with Islamic finance principles

• No swap fees

• Suitable for Muslim traders

• Demo Account:

• Risk-free trading environment

• Ideal for strategy testing

• Access to all trading instruments

Disadvantages of Each Account Type

• Standard Account:

• Limited features for advanced trading

• Higher spreads compared to ECN

• ECN Account:

• Higher minimum deposit

• Commission fees may add up for low-volume traders

• Pro Account:

• High minimum deposit requirement

• More suited for experienced traders

• Islamic Account:

• Limited to specific trading conditions

• May not offer all features of standard accounts

• Demo Account:

• Limited duration for practice

• No real market experience

prabhat Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents of India and select countries.
• Prohibited Countries: Specific countries may be restricted based on regulatory compliance.
• Identity Verification Documents Needed:
• PAN Card
• Aadhaar Card
• Passport (if applicable)
• Proof of Residence Requirements: Utility bill or bank statement not older than three months.
• Additional Documentation for Professional Accounts: Income proof may be required.

KYC/AML Compliance Procedures

• All clients must complete Know Your Customer (KYC) and Anti-Money Laundering (AML) checks.
• Documents submitted will be verified against government databases.

Verification Time Frames

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

Step-by-Step prabhat Account Opening Guide

Registration Process

1. Visit Website: Go to the Prabhat Financial Services website.
2. Click Registration: Select the option to open a new account.
3. Personal Information Entry: Fill in personal details including 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 risk tolerance.
6. Document Upload: Upload required documents for verification.
7. Account Verification: Wait for the account to be verified by the Prabhat team.
8. Fund Your Account: Deposit the minimum required amount to activate your account.
9. Start Trading: Once funded, you can begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, with mobile offering a more streamlined interface.

Common Registration Issues and Solutions

• Document Rejection: Ensure all documents are clear and legible.
• Verification Delays: Contact customer support if verification exceeds the expected timeframe.

Average Account Approval Time

• Generally, account approval takes between 1-3 business days.

How to Upgrade/Downgrade Account Types

• Account type changes can be requested through customer support, subject to the new account type's requirements.

prabhat Demo Account Guide

Demo Account Features and Benefits

• The demo account allows traders to practice without financial risk, using virtual funds.
• Access to all trading instruments available in live accounts.

How to Open a Demo Account

• Visit the Prabhat Financial Services website and select the demo account option.
• Fill in the required details and receive access to the demo platform.

Demo Account Limitations

• Limited duration (usually 30 days).
• Virtual funds may not replicate real market conditions.

Virtual Balance Amount

• Typically, demo accounts are funded with a virtual balance of ₹1,000,000.

Demo vs Live Account Differences

• Demo accounts use virtual funds, while live accounts involve real money.
• Live accounts incur trading costs such as spreads and commissions.

Duration/Expiry of Demo Accounts

• Demo accounts usually expire after 30 days of inactivity.

prabhat Islamic Account Details

Swap-Free/Islamic Account Availability

• Prabhat offers Islamic accounts that comply with Sharia law, free from swap fees.

Eligibility Requirements

• Must be a Muslim trader seeking Sharia-compliant trading options.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, making them suitable for long-term positions.

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 specific trading conditions and limitations compared to standard accounts.

FAQs – prabhat Account Types & Opening

1. What account types does prabhat offer？

• Prabhat offers Standard, ECN, Pro, Islamic, and Demo accounts.

1. What is the minimum deposit for each account type？

• Standard: ₹5,000, ECN: ₹10,000, Pro: ₹25,000, Islamic: ₹10,000, Demo: N/A.

1. How long does prabhat account verification take？

• Verification typically takes 1-3 business days.

1. Does prabhat offer demo accounts？

• Yes, Prabhat offers demo accounts for practice trading.

1. Can I have multiple account types with prabhat？

• Yes, clients can open multiple account types.

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

• Yes, Islamic accounts are available.

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

• PAN Card, Aadhaar Card, proof of residence, and additional documents for professional accounts.

1. Can I change my account type after registration？

• Yes, you can request to change your account type through customer support.