Prescient broker Accounts

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

Part 1: prescient Account Types Overview

prescient Account Types Explained

Prescient offers a variety of account types tailored to different trading needs and preferences. Below is a detailed overview of each account type available:

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.0 pips, no commission
• Leverage Options: Up to 1:500
• Key Features: Ideal for beginners, access to a wide range of 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 starting from 0.0 pips, commission of $5 per lot
• Leverage Options: Up to 1:200
• Key Features: Direct market access, lower spreads, suitable for high-frequency trading
• Target User Profile: Experienced traders and scalpers
• Trading Instruments Available: Forex, commodities, cryptocurrencies

1. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Variable spreads starting from 0.5 pips, commission of $3 per lot
• Leverage Options: Up to 1:400
• Key Features: Enhanced trading conditions, priority customer support
• Target User Profile: Professional traders and institutions
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

1. Islamic Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Similar to Standard Account
• Leverage Options: Up to 1:500
• Key Features: Swap-free trading in compliance with Islamic finance principles
• Target User Profile: Muslim traders
• Trading Instruments Available: Forex, commodities, indices

1. Demo Account

• Minimum Deposit Requirement: Virtual funds (typically $10,000)
• Spread/Commission Structure: Same as Standard Account
• Leverage Options: Up to 1:500
• Key Features: Practice trading without risk, access to all trading instruments
• Target User Profile: Beginners and those testing strategies
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

Recommended Account Types by Trader Level

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

Part 2: prescient Account Features Comparison

Detailed prescient Account Features

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit

• User-friendly for beginners

• Access to a variety of instruments

• ECN Account:

• Lower spreads for high-frequency trading

• Direct market access

• Ideal for scalping strategies

• Pro Account:

• Enhanced trading conditions

• Priority support

• Suitable for professional trading

• Islamic Account:

• Complies with Islamic finance principles

• No swap fees

• Flexible trading options

• Demo Account:

• Risk-free trading environment

• Practice with virtual funds

• Ideal for strategy testing

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN

• Limited features for advanced traders

• ECN Account:

• Higher minimum deposit required

• Commission fees may add up for frequent traders

• Pro Account:

• High minimum deposit

• Not suitable for casual traders

• Islamic Account:

• Limited availability of advanced features

• May not suit all trading strategies

• Demo Account:

• Virtual funds do not reflect real market conditions

• Limited duration for practice

Part 3: prescient Account Opening Requirements

prescient 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: Not available in regions under sanctions or restrictions (specific countries not listed).

Identity Verification Documents Needed:

• Government-issued ID (passport or national ID)
• Proof of residence (utility bill or bank statement)

Additional Documentation for Professional Accounts:

• Business registration documents (for corporate accounts)
• Proof of professional qualifications (if applicable)

KYC/AML Compliance Procedures:

• Complete the Know Your Customer (KYC) process by submitting required documents.
• Anti-Money Laundering (AML) checks are conducted as part of the registration.

Verification Time Frames:

• Account verification typically takes 1-3 business days.

Part 4: prescient Account Opening Process

Step-by-Step prescient Account Opening Guide

1. Visit Website and Click Registration: Go to the official Prescient website and locate the registration button.
2. Personal Information Entry: Fill in personal details including name, email, and phone number.
3. Choose Account Type: Select the desired account type based on your trading needs.
4. Set Trading Preferences: Indicate your trading preferences and risk profile.
5. Document Upload: Upload the required identity verification documents.
6. Account Verification: Wait for the verification process to complete.
7. Fund Your Account: Deposit the minimum required amount to activate your account.
8. Start Trading: Access your account and begin trading.

Desktop vs Mobile Registration Differences:

• The registration process is similar on both platforms, but mobile registration may have simplified steps.

Common Registration Issues and Solutions:

• Issue: Document upload failure.

  Solution: Ensure documents are in the correct format and within size limits.

• Issue: Account verification delay.

  Solution: Contact customer support for assistance.

Average Account Approval Time:

• Typically 1-3 business days, depending on document verification.

How to Upgrade/Downgrade Account Types:

• Contact customer support to request an upgrade or downgrade, providing necessary documentation if required.

Part 5: prescient Demo Account Information

prescient Demo Account Guide

Demo Account Features and Benefits:

• Access to all trading instruments with virtual funds.
• Practice trading strategies without financial risk.
• Familiarize yourself with the trading platform.

How to Open a Demo Account:

• Navigate to the Prescient website and select the demo account option.
• Complete the registration form using your personal details.

Demo Account Limitations:

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

Virtual Balance Amount:

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

Demo vs Live Account Differences:

• Demo accounts use virtual funds, while live accounts involve real money.
• Live accounts may incur fees and commissions.

Duration/Expiry of Demo Accounts:

• Demo accounts typically expire after 30 days of inactivity.

Part 6: prescient Islamic Account Details

prescient Islamic Account Details

Swap-Free/Islamic Account Availability:

• Prescient offers an Islamic account option that is swap-free.

Eligibility Requirements:

• Must comply with Islamic finance principles.

Differences from Standard Accounts:

• Islamic accounts do not incur swap fees for overnight positions.

How to Apply for Islamic Account:

• Select the Islamic account option during the registration process or contact customer support.

Restrictions or Special Conditions:

• Islamic accounts may have specific trading conditions that differ from standard accounts.

FAQs – prescient Account Types & Opening

1. What account types does prescient offer？

• Prescient 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, Demo: Virtual funds.

1. How long does prescient account verification take？

• Account verification typically takes 1-3 business days.

1. Does prescient offer demo accounts？

• Yes, prescient offers a demo account for practice trading.

1. Can I have multiple account types with prescient？

• Yes, you can open multiple accounts with different types.

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

• Yes, prescient offers an Islamic account option.

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

• A government-issued ID 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 customer support.