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

royal forex Account Types Explained

Royal Forex offers a variety of account types tailored to different trading needs. Below is an overview of the available account types, their features, and the target user profiles.

Account Types Overview

Recommended Account Types by Trader Level

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

Detailed royal forex Account Features

Account Features Comparison

Advantages of Each Account Type

• Standard Account:
• Low minimum deposit
• User-friendly interface
• Access to educational resources
• Suitable for beginners
• ECN Account:
• Tight spreads
• Direct market access
• Ideal for scalping and high-frequency trading
• Advanced trading tools available
• Pro Account:
• Professional-grade trading conditions
• Dedicated account manager
• Access to a wide range of instruments
• Lower commission fees
• Islamic Account:
• Compliant with Sharia law
• No swap fees
• Suitable for Muslim traders
• Demo Account:
• Risk-free trading environment
• Practice with virtual funds
• Ideal for testing strategies

Disadvantages of Each Account Type

• Standard Account:
• Higher spreads compared to ECN accounts
• Limited advanced features
• ECN Account:
• Commission fees can add up
• Requires more trading knowledge
• Pro Account:
• High minimum deposit
• More suitable for experienced traders
• Islamic Account:
• Limited to specific trading conditions
• Not available for all instruments
• Demo Account:
• No real money involved
• Limited duration for practice

royal forex Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to traders in most countries, but specific regulations may apply in certain regions.
• Prohibited Countries: Countries under sanctions or with strict trading regulations may be restricted.

Identity Verification Documents Needed

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

Additional Documentation for Professional Accounts

• Financial statements may be required for high-value accounts.

KYC/AML Compliance Procedures

• All accounts must comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.
• Verification typically involves submitting identification and proof of residence.

Verification Time Frames

• Account verification can take between 24 to 48 hours, depending on the completeness of submitted documents.

Step-by-Step royal forex Account Opening Guide

Registration Process

1. Visit Website: Go to the official Royal Forex website.
2. Click Registration: Find and click the "Sign Up" or "Open Account" button.
3. Personal Information Entry: Fill in your personal details such as name, email, and phone number.
4. Choose Account Type: Select the account type that suits your trading needs.
5. Set Trading Preferences: Indicate your trading preferences, including leverage and margin settings.
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 funds using your preferred payment method.
9. Start Trading: Once funded, you can start trading on your chosen platform.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, though mobile may have a more streamlined interface.

Common Registration Issues and Solutions

• Issue: Document rejection due to poor quality.
• Solution: Ensure all documents are clear and legible before uploading.
• Issue: Delays in verification.
• Solution: Contact customer support for assistance.

Average Account Approval Time

• Typically, account approval takes between 24 to 48 hours.

How to Upgrade/Downgrade Account Types

• Contact customer support to request an upgrade or downgrade of your account type.

royal forex Demo Account Guide

Demo Account Features and Benefits

• Practice trading strategies without risk.
• Access to the same trading platforms as live accounts.
• Virtual funds to simulate real trading conditions.

How to Open a Demo Account

• Follow the same registration steps as for a live account but select the demo option.

Demo Account Limitations

• Limited duration for use (typically 30 days).
• No real financial transactions.

Virtual Balance Amount

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

Demo vs Live Account Differences

• Demo accounts use virtual funds, while live accounts involve real money.
• Performance in demo accounts may not reflect real market conditions.

Duration/Expiry of Demo Accounts

• Demo accounts usually expire after a set period, often 30 days, unless extended by the broker.

royal forex Islamic Account Details

Swap-Free/Islamic Account Availability

• Royal Forex offers Islamic accounts that comply with Sharia law.

Eligibility Requirements

• Must be a practicing Muslim to apply for an Islamic account.

Differences from Standard Accounts

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

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, such as limited leverage or available instruments.

FAQs – royal forex Account Types & Opening

1. What account types does royal forex offer？

• Royal Forex offers Standard, ECN, Pro, Islamic, and Demo accounts.

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

• Standard and ECN accounts require a minimum deposit of $50, while the Pro account requires $5,000. The Islamic account also requires $50, and the demo account is free.

1. How long does royal forex account verification take？

• Verification typically takes between 24 to 48 hours.

1. Does royal forex offer demo accounts？

• Yes, royal forex offers demo accounts for practice trading.

1. Can I have multiple account types with royal forex？

• Yes, traders can open multiple account types as needed.

1. Does royal forex offer Islamic/swap-free accounts？

• Yes, royal forex provides Islamic accounts that are swap-free.

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

• You will need a government-issued ID and proof of residence.

1. Can I change my account type after registration？

• Yes, you can request to upgrade or downgrade your account type through customer support.