prospect broker Accounts

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

prospect club Account Types Explained

The prospect club offers a variety of account types tailored to meet the needs of different traders. 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
• 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 0.0 pips + commission
• Leverage Options: Up to 1:200
• Key Features: Direct market access, faster execution
• Target User Profile: Experienced traders and scalpers
• Trading Instruments Available: Forex, cryptocurrencies, commodities

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Competitive spreads with lower commission fees
• Leverage Options: Up to 1:300
• Key Features: Advanced trading tools, priority customer service
• Target User Profile: Professional traders
• Trading Instruments Available: Forex, indices, commodities, stocks

4. Islamic Account

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

5. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds)
• Spread/Commission Structure: Same as live accounts
• Leverage Options: Same as live accounts
• Key Features: Practice trading without risk, access to all trading tools
• Target User Profile: Beginners and traders testing strategies
• Trading Instruments Available: Forex, commodities, indices

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Detailed prospect club Account Features

Feature Comparison Across Different Account Types

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $100

• Demo: N/A

• Maximum Leverage:

• Standard: Up to 1:500

• ECN: Up to 1:200

• Pro: Up to 1:300

• Islamic: Up to 1:500

• Demo: N/A

• Spreads (Typical/Minimum):

• Standard: From 1.0 pips

• ECN: From 0.0 pips + commission

• Pro: Competitive spreads

• Islamic: Similar to Standard

• Demo: Same as live accounts

• Commission Fees:

• Standard: None

• ECN: Yes, based on trading volume

• Pro: Lower than ECN

• Islamic: None

• Demo: None

• Lot Size:

• Standard: Micro and mini lots

• ECN: Standard lots

• Pro: Standard lots

• Islamic: Micro and mini lots

• Demo: Micro and mini 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: Yes

• ECN: Yes

• Pro: Yes

• Islamic: N/A

• Demo: N/A

• Swap-Free Options:

• Standard: Yes

• ECN: Yes

• Pro: Yes

• Islamic: N/A

• Demo: N/A

• Demo Account Features:

• Virtual balance for practice

• Access to all trading tools

• No time limit on usage

Advantages and Disadvantages of Each Account Type

Standard Account

• Advantages:
• Low minimum deposit
• User-friendly interface
• No commission fees
• Disadvantages:
• Higher spreads compared to ECN
• Limited advanced features

ECN Account

• Advantages:
• Tight spreads
• Fast execution speeds
• Suitable for scalping
• Disadvantages:
• Higher minimum deposit
• Commission fees apply

Pro Account

• Advantages:
• Competitive spreads
• Advanced trading tools
• Priority support
• Disadvantages:
• Higher minimum deposit
• May not be suitable for beginners

Islamic Account

• Advantages:
• Compliant with Sharia law
• Swap-free trading
• Similar features to Standard Account
• Disadvantages:
• Limited availability for non-Muslim traders

Demo Account

• Advantages:
• Risk-free trading
• Practice with virtual funds
• Access to all trading tools
• Disadvantages:
• No real profit potential
• Limited to virtual trading experience

prospect club Account Registration Requirements

Eligibility Criteria

• Age Requirements: Minimum age of 18 years
• Geographic Restrictions: Available in most countries, but may have restrictions based on local regulations
• Prohibited Countries: Specific countries may be restricted due to regulatory compliance (check with prospect club for details)
• Identity Verification Documents Needed:
• Government-issued ID (passport or national ID)
• Proof of address (utility bill or bank statement)
• Proof of Residence Requirements: Recent documents showing your name and address
• Additional Documentation for Professional Accounts: May require financial statements or proof of trading experience

KYC/AML Compliance Procedures

• Verification of identity and address
• Source of funds declaration
• Ongoing monitoring for compliance

Verification Time Frames

• Typically, account verification takes between 1 to 3 business days, depending on the volume of applications.

Step-by-Step prospect club Account Opening Guide

Registration Process

1. Visit Website: Go to the prospect club website.
2. Click Registration: Locate and click the registration button.
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 options available.
5. Set Trading Preferences: Specify your trading preferences and leverage options.
6. Document Upload: Upload required identification and proof of residence documents.
7. Account Verification: Wait for the verification process to complete.
8. Fund Your Account: Deposit the minimum required amount to start trading.
9. Start Trading: Access the trading platform and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both platforms, but mobile users may have a more streamlined experience due to app functionalities.

Common Registration Issues and Solutions

• Issue: Document upload errors
• Solution: Ensure documents are clear and in the correct format (JPEG, PNG, PDF).
• Issue: Delays in verification
• Solution: Contact customer support for updates on your application status.

Average Account Approval Time

• Most accounts are approved within 1 to 3 business days.

How to Upgrade/Downgrade Account Types

• Log into your account and navigate to the account settings to request an upgrade or downgrade. Follow the prompts to complete the process.

prospect club Demo Account Guide

Demo Account Features and Benefits

• Practice trading with virtual funds
• Access to all trading tools and features
• No risk of losing real money

How to Open a Demo Account

• Visit the prospect club website and select the demo account option. Follow the registration steps similar to a live account.

Demo Account Limitations

• No real profits can be made
• Limited to virtual trading experience

Virtual Balance Amount

• Typically, demo accounts come with a virtual balance of $10,000 or more, depending on the broker.

Demo vs Live Account Differences

• Live accounts involve real money, while demo accounts use virtual funds. Live accounts may have different spreads and execution speeds.

Duration/Expiry of Demo Accounts

• Demo accounts usually remain active for a limited time, often 30 to 90 days, after which they may need to be renewed.

prospect club Islamic Account Details

Swap-Free/Islamic Account Availability

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

Eligibility Requirements

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

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, making them compliant with Islamic finance principles.

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 or limitations, such as restrictions on certain trading strategies.

FAQs – prospect club Account Types & Opening

1. What account types does prospect club offer？

• Prospect club 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: N/A.

1. How long does prospect club account verification take？

• Verification typically takes 1 to 3 business days.

1. Does prospect club offer demo accounts？

• Yes, a demo account is available for practice trading.

1. Can I have multiple account types with prospect club？

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

1. Does prospect club offer Islamic/swap-free accounts？

• Yes, Islamic accounts are available for Muslim traders.

1. What documents do I need to open a prospect club 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 your account settings.