Reliance broker Accounts

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

Part 1: reliance Account Types Explained

Reliance offers a variety of account types tailored to meet the needs of different traders. Below is an overview of the available account types, including their features, minimum deposit requirements, and target user profiles.

Available Account Types

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: Basic trading tools, access to all trading instruments
• Target User Profile: Beginners
• Trading Instruments Available: Forex, commodities, indices

1. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Raw spreads from 0.0 pips plus a commission
• Leverage Options: Up to 1:200
• Key Features: Direct market access, lower spreads
• Target User Profile: Advanced traders
• Trading Instruments Available: Forex, commodities, indices

1. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Competitive spreads with lower commissions
• Leverage Options: Up to 1:100
• Key Features: Advanced trading tools, priority customer support
• Target User Profile: Professional traders
• 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
• Target User Profile: Traders requiring Sharia-compliant accounts
• Trading Instruments Available: Forex, commodities, indices

1. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds)
• Spread/Commission Structure: Same as Standard Account
• Leverage Options: Up to 1:500
• Key Features: Practice trading without risk
• Target User Profile: Beginners and those testing 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

Part 2: reliance Account Features Comparison

Detailed reliance Account Features

When comparing reliance account types, several features stand out:

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $100

• Demo: N/A

• Maximum Leverage:

• Standard: 1:500

• ECN: 1:200

• Pro: 1:100

• Islamic: 1:500

• Demo: 1:500

• Spreads:

• Standard: Variable from 1.0 pips

• ECN: Raw spreads from 0.0 pips

• Pro: Competitive spreads

• Islamic: Similar to Standard Account

• Demo: Same as Standard Account

• Commission Fees:

• Standard: None

• ECN: Yes, based on volume

• Pro: Lower commissions

• Islamic: None

• Demo: N/A

• Lot Size:

• Standard: Micro, Mini, Standard

• ECN: Micro, Mini, Standard

• Pro: Standard

• Islamic: Micro, Mini, Standard

• Demo: Micro, Mini, Standard

• Available Trading Platforms:

• Standard: MT4, MT5

• ECN: MT4, MT5

• Pro: MT4, MT5

• Islamic: MT4, MT5

• Demo: MT4, MT5

• Execution Type:

• Standard: Market

• ECN: ECN

• Pro: Market

• Islamic: Market

• Demo: Market

• Islamic Account Availability: Yes for Islamic Account

• Swap-Free Options: Yes for Islamic Account

• Demo Account Features: Available for all account types, with virtual funds for practice.

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit

• Ideal for beginners

• Access to all trading instruments

• ECN Account:

• Lower spreads

• Direct market access

• Suitable for high-frequency trading

• Pro Account:

• Advanced trading tools

• Lower commission fees

• Priority support

• Islamic Account:

• Complies with Sharia law

• No swap fees

• Flexible trading options

• Demo Account:

• Risk-free trading environment

• Practice strategies

• Familiarization with the trading platform

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN

• Limited advanced features

• ECN Account:

• Higher minimum deposit

• Commission fees can add up

• Pro Account:

• Higher minimum deposit

• Not suitable for beginners

• Islamic Account:

• Limited availability of certain features

• May have higher spreads

• Demo Account:

• Limited to virtual funds

• No real trading experience

Part 3: reliance Account Registration Requirements

reliance Account Registration Requirements

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

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Availability may vary by region; check local regulations.
• Prohibited Countries: Specific countries may be restricted; consult reliance's terms.
• Identity Verification Documents Needed:
• Government-issued ID (passport or driver's license)
• Social Security Number (for U.S. residents)
• Proof of Residence Requirements:
• Utility bill or bank statement dated within the last three months
• Additional Documentation for Professional Accounts: May require proof of trading experience or financial status.

KYC/AML Compliance Procedures

• All applicants must complete Know Your Customer (KYC) and Anti-Money Laundering (AML) checks as part of the registration process.

Verification Time Frames

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

Part 4: reliance Account Opening Process

Step-by-Step reliance Account Opening Guide

1. Visit the Website: Navigate to the reliance trading platform.
2. Click Registration: Locate and click the "Open an Account" button.
3. Personal Information Entry: Fill out the required personal details, including name, address, and contact information.
4. Choose Account Type: Select the desired account type from the available options.
5. Set Trading Preferences: Indicate your trading preferences, including leverage and trading instruments.
6. Document Upload: Upload necessary identification and proof of residence documents.
7. Account Verification: Wait for the verification process to complete.
8. Fund Your Account: Deposit funds into your account to begin trading.
9. Start Trading: Access the trading platform and start trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, though the mobile interface may have simplified steps.

Common Registration Issues and Solutions

• Issue: Document upload errors.
• Solution: Ensure documents are clear and meet size requirements.
• Issue: Delayed verification.
• Solution: Contact customer support for assistance.

Average Account Approval Time

• Typically, account approval takes 1-3 business days.

How to Upgrade/Downgrade Account Types

• Users can request changes to their account type through customer support after meeting the necessary requirements.

Part 5: reliance Demo Account Information

reliance Demo Account Guide

Demo Account Features and Benefits

• Access to all trading instruments
• Practice trading strategies without financial risk
• Use of virtual funds

How to Open a Demo Account

• Visit the reliance website and select the demo account option.
• Fill in the required information and set up your demo account.

Demo Account Limitations

• Limited to virtual funds; cannot be used for real trading.
• May have a time limit on usage.

Virtual Balance Amount

• Typically set to a standard amount (e.g., $10,000) for practice.

Demo vs Live Account Differences

• Demo accounts use virtual funds, while live accounts involve real money and risk.

Duration/Expiry of Demo Accounts

• Demo accounts may expire after a certain period, usually 30 days, but can often be renewed.

Part 6: reliance Islamic Account Details

reliance Islamic Account Details

Swap-Free/Islamic Account Availability

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

Eligibility Requirements

• Must meet the standard account opening requirements and specify the need for an Islamic account.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, making them suitable for traders adhering to Islamic finance principles.

How to Apply for Islamic Account

• Select the Islamic account option during the registration process.

Restrictions or Special Conditions

• Islamic accounts may have specific trading conditions or limitations on certain instruments.

FAQs – reliance Account Types & Opening

1. What account types does reliance offer？

• Reliance 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 reliance account verification take？

• Verification typically takes 1-3 business days.

1. Does reliance offer demo accounts？

• Yes, reliance provides demo accounts for practice trading.

1. Can I have multiple account types with reliance？

• Yes, traders can have multiple account types.

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

• Yes, reliance offers Islamic accounts that are swap-free.

1. What documents do I need to open a reliance 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 change your account type through customer support.