Sakim broker Accounts

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

Part 1: sakim Account Types Overview

sakim Account Types Explained

Sakim offers a variety of account types to cater to different trading needs and preferences. Below is a detailed overview of the available account types:

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.5 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: Beginner traders.
• Trading Instruments Available: Forex, commodities, indices.

2. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Raw spreads from 0.0 pips; commission of $3 per lot.
• Leverage Options: Up to 1:200.
• Key Features: Direct market access; lower spreads; suitable for high-frequency trading.
• Target User Profile: Advanced traders.
• Trading Instruments Available: Forex, commodities, cryptocurrencies.

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Spreads from 1.0 pip; commission of $2 per lot.
• Leverage Options: Up to 1:300.
• Key Features: Tailored for professional traders; advanced trading tools.
• Target User Profile: Professional and institutional traders.
• Trading Instruments Available: Forex, commodities, indices, stocks.

4. Islamic Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Similar to the Standard Account; no swap fees.
• Leverage Options: Up to 1:500.
• Key Features: Compliant with Sharia law; no interest on overnight positions.
• Target User Profile: Muslim traders.
• Trading Instruments Available: Forex, commodities.

5. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds).
• Spread/Commission Structure: Similar to the Standard Account.
• Leverage Options: Up to 1:500.
• Key Features: Risk-free environment to practice trading strategies.
• Target User Profile: Beginners and traders testing strategies.
• Trading Instruments Available: Same as live accounts.

Account Type Comparison Table

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: sakim Account Features Comparison

Detailed sakim Account Features

When choosing an account type, its essential to consider various features. Below is a comparison of the features across different account types:

Advantages of Each Account Type

• Standard Account:
• Low minimum deposit.
• No commission fees.
• User-friendly for beginners.
• ECN Account:
• Tight spreads.
• Direct market access.
• Suitable for scalping.
• Pro Account:
• Advanced trading tools.
• Lower commission fees.
• Ideal for high-volume trading.
• 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.
• Limited features for advanced trading.
• ECN Account:
• Higher minimum deposit.
• Commission fees may add up.
• Pro Account:
• High minimum deposit.
• Not suitable for beginners.
• Islamic Account:
• Limited to Muslim traders.
• Similar features to Standard Account.
• Demo Account:
• No real profits.
• Limited duration for practice.

Part 3: sakim Account Opening Requirements

sakim Account Registration Requirements

To open a sakim account, you must meet certain eligibility criteria:

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available in most countries; check specific restrictions.
• Prohibited Countries: Countries under sanctions may be restricted.
• Identity Verification Documents Needed:
• Valid government-issued ID (passport, drivers license).
• Proof of address (utility bill, 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

• Complete the Know Your Customer (KYC) process by submitting required documents.
• Anti-Money Laundering (AML) checks will be performed.

Verification Time Frames

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

Part 4: sakim Account Opening Process

Step-by-Step sakim Account Opening Guide

1. Visit the Website and Click Registration: Go to the sakim website and find the registration button.
2. Personal Information Entry: Fill in your personal details, including name, email, and phone number.
3. Choose Account Type: Select the account type that best suits your trading needs.
4. Set Trading Preferences: Specify your trading preferences and risk tolerance.
5. Document Upload: Upload the required identity verification documents.
6. Account Verification: Wait for the sakim team to verify your documents.
7. Fund Your Account: Once verified, fund your account using the available payment methods.
8. Start Trading: Access your account and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, but the mobile interface may have simplified steps for ease of use.

Common Registration Issues and Solutions

• Issue: OTP not received.
• Solution: Check your mobile number and request a new OTP.
• Issue: Document upload errors.
• Solution: Ensure documents are clear and meet the required format.

Average Account Approval Time

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

How to Upgrade/Downgrade Account Types

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

Part 5: sakim Demo Account Information

sakim Demo Account Guide

• Demo Account Features and Benefits:
• Access to all trading instruments.
• Practice trading strategies without financial risk.
• How to Open a Demo Account:
• Follow the same registration process but select the demo account option.
• Demo Account Limitations:
• Limited duration (typically 30 days).
• Virtual funds only; no real profits can be made.
• Virtual Balance Amount: Usually set at $10,000 in virtual funds.
• Demo vs Live Account Differences:
• Live accounts involve real money and emotional trading.
• Demo accounts provide a risk-free environment.
• Duration/Expiry of Demo Accounts: Typically expires after 30 days of inactivity.

Part 6: sakim Islamic Account (if available)

sakim Islamic Account Details

• Swap-Free/Islamic Account Availability: Yes, sakim offers an Islamic account option.
• Eligibility Requirements: Must be a Muslim trader.
• Differences from Standard Accounts: No swap fees; otherwise similar features.
• How to Apply for Islamic Account: Select the Islamic account option during registration.
• Restrictions or Special Conditions: Must provide documentation confirming eligibility.

FAQs – sakim Account Types & Opening

1. What account types does sakim offer？

• Sakim 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 sakim account verification take？

• Verification typically takes 1-3 business days.

1. Does sakim offer demo accounts？

• Yes, sakim provides demo accounts for practice trading.

1. Can I have multiple account types with sakim？

• Yes, you can open different types of accounts.

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

• Yes, sakim has Islamic accounts available.

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

• A valid 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.