PROVEN broker Accounts

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

Part 1: proven Account Types Overview

proven Account Types Explained

In the realm of forex trading, selecting the right account type is crucial for success. Below are the proven account types available for traders, along with their specifications:

Recommended Account Types by Trader Level

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

Part 2: proven Account Features Comparison

Detailed proven Account Features

When comparing the features of different proven account types, the following aspects are essential:

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $100

• Demo: $0

• Maximum Leverage:

• Standard: Up to 1:500

• ECN: Up to 1:200

• Pro: Up to 1:300

• Islamic: Up to 1:500

• Spreads (Typical/Minimum):

• Standard: From 1.0 pips

• ECN: From 0.0 pips + commission

• Pro: From 0.5 pips

• Islamic: Similar to Standard

• Commission Fees:

• ECN: Applicable

• Pro: Varies by broker

• Standard and Islamic: Generally no commission

• Lot Size:

• Standard: Micro, Mini, Standard

• ECN: Standard

• Pro: Standard

• Islamic: Micro, Mini, Standard

• Available Trading Platforms:

• All account types typically support MT4 and MT5.

• Execution Type:

• Standard: Market

• ECN: ECN

• Pro: Market

• Islamic: Market

• Islamic Account Availability:

• Yes, for Standard and Islamic accounts.

• Swap-Free Options:

• Available for Islamic accounts.

• Demo Account Features:

• Virtual balance for practice trading.

Advantages of Each Account Type

• Standard Account:
• Low minimum deposit, user-friendly interface.
• ECN Account:
• Tight spreads, direct market access.
• Pro Account:
• Advanced tools, priority execution.
• Islamic Account:
• Compliant with Sharia law, no swap fees.
• Demo Account:
• Risk-free environment for practice.

Disadvantages of Each Account Type

• Standard Account:
• Higher spreads compared to ECN.
• ECN Account:
• Requires a higher minimum deposit, commission fees apply.
• Pro Account:
• Higher minimum deposit, may not suit beginners.
• Islamic Account:
• Limited to specific trading instruments.
• Demo Account:
• No real profit, limited duration.

Part 3: proven Account Opening Requirements

proven Account Registration Requirements

To open a proven account, the following eligibility criteria must be met:

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Some countries may be restricted; check with proven for specifics.
• Prohibited Countries: Certain jurisdictions may not be eligible for account opening.
• Identity Verification Documents Needed:
• Government-issued ID (passport or drivers license).
• Proof of residence (utility bill or bank statement).
• Additional Documentation for Professional Accounts:
• Business registration documents, financial statements.

KYC/AML Compliance Procedures

• All applicants must undergo Know Your Customer (KYC) and Anti-Money Laundering (AML) checks, which include identity verification and proof of address.

Verification Time Frames

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

Part 4: proven Account Opening Process

Step-by-Step proven Account Opening Guide

1. Visit Website and Click Registration: Navigate to the proven website and select the account type you wish to open.
2. Personal Information Entry: Fill out the required personal information, including name, address, and contact details.
3. Choose Account Type: Select the account type that best suits your trading needs.
4. Set Trading Preferences: Specify your trading preferences, including leverage and trading instruments.
5. Document Upload: Upload the necessary identification and proof of residence documents.
6. Account Verification: Wait for the verification process to be completed by the proven team.
7. Fund Your Account: Once verified, deposit the minimum required amount to fund your account.
8. Start Trading: Access your trading platform and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is generally similar on both desktop and mobile platforms, although mobile may offer a more streamlined interface.

Common Registration Issues and Solutions

• Issue: Document upload failures.
• Solution: Ensure documents are clear and in the correct format.
• Issue: Verification delays.
• Solution: Contact customer support for updates.

Average Account Approval Time

• The average account approval time is typically between 1 to 3 business days.

How to Upgrade/Downgrade Account Types

• Contact customer support to request an upgrade or downgrade, and follow the provided instructions.

Part 5: proven Demo Account Information

proven Demo Account Guide

• Demo Account Features and Benefits:

• Allows traders to practice without financial risk using virtual funds.

• How to Open a Demo Account:

• Select the demo account option during the registration process and follow the prompts.

• Demo Account Limitations:

• Limited duration and virtual balance may not reflect real market conditions.

• Virtual Balance Amount:

• Typically set at a predetermined amount (e.g., $100,000).

• Demo vs Live Account Differences:

• Demo accounts do not involve real money; live accounts require actual funds.

• Duration/Expiry of Demo Accounts:

• Demo accounts may expire after a set period, often 30 days, unless extended.

Part 6: proven Islamic Account Details

proven Islamic Account Details

• Swap-Free/Islamic Account Availability:

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

• Eligibility Requirements:

• Must be a practicing Muslim, with documentation to support the request for an Islamic account.

• Differences from Standard Accounts:

• Islamic accounts do not incur swap fees and may have different trading conditions.

• How to Apply for Islamic Account:

• Select the Islamic account option during registration or contact support for assistance.

• Restrictions or Special Conditions:

• Must adhere to specific trading rules in accordance with Islamic finance principles.

FAQs – proven Account Types & Opening

1. What account types does proven offer？

• Proven 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: $0.

1. How long does proven account verification take？

• Verification typically takes 1 to 3 business days.

1. Does proven offer demo accounts？

• Yes, proven offers demo accounts for practice trading.

1. Can I have multiple account types with proven？

• Yes, traders can hold multiple account types.

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

• Yes, proven offers Islamic accounts that are compliant with Sharia law.

1. What documents do I need to open a proven 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.