Saman Bank broker Accounts

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

saman bank Account Types Explained

Saman Bank offers a variety of account types tailored for different needs and trading preferences. Below is a detailed overview of the available account types:

1. Standard Account

• Minimum Deposit Requirement: Varies by promotion
• Spread/Commission Structure: Fixed spreads starting from 1.5 pips
• Leverage Options: Up to 1:100
• Key Features: Basic trading tools, access to major currency pairs
• Target User Profile: Beginners and casual traders
• Trading Instruments Available: Forex, commodities

2. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Variable spreads, commission per trade
• Leverage Options: Up to 1:200
• Key Features: Direct market access, lower spreads
• Target User Profile: Intermediate to advanced traders
• Trading Instruments Available: Forex, indices, commodities

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Tight spreads, commission-based
• Leverage Options: Up to 1:500
• Key Features: Advanced trading tools, priority customer support
• Target User Profile: Professional traders and institutions
• Trading Instruments Available: Forex, stocks, ETFs

4. Islamic Account

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

5. Demo Account

• Minimum Deposit Requirement: Virtual funds (typically $10,000)
• Spread/Commission Structure: Same as live accounts
• Leverage Options: Same as live accounts
• Key Features: Risk-free trading environment, practice strategies
• Target User Profile: Beginners and traders testing strategies
• Trading Instruments Available: All instruments available in live accounts

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
• Practice Traders: Demo Account

Detailed saman bank Account Features

Feature Comparison Across Different Account Types

• Minimum Deposit:

• Standard: Varies

• ECN: $500

• Pro: $1,000

• Islamic: $500

• Demo: Virtual funds

• Maximum Leverage:

• Standard: Up to 1:100

• ECN: Up to 1:200

• Pro: Up to 1:500

• Islamic: Up to 1:100

• Demo: Same as live accounts

• Spreads:

• Standard: Fixed from 1.5 pips

• ECN: Variable

• Pro: Variable

• Islamic: Variable

• Demo: Same as live accounts

• Commission Fees:

• Standard: None

• ECN: Yes

• Pro: Yes

• Islamic: None

• Demo: None

• Lot Size:

• Standard: Micro, Mini, Standard

• ECN: Micro, Mini, Standard

• Pro: Micro, Mini, Standard

• Islamic: Micro, Mini, Standard

• Demo: Micro, Mini, Standard

• Available Trading Platforms:

• All account types: MT4, MT5

• Execution Type:

• Standard: Market

• ECN: ECN

• Pro: Market

• Islamic: Market

• Demo: Market

• Islamic Account Availability: Yes for Islamic accounts only.

• Swap-Free Options: Available for Islamic accounts.

• Demo Account Features: Unlimited access to virtual funds for practice.

Advantages of Each Account Type

• Standard Account:

• Easy to open

• No commissions

• Fixed spreads provide predictability

• ECN Account:

• Lower spreads

• Direct market access

• Suitable for scalping

• Pro Account:

• Advanced trading tools

• High leverage options

• Priority support

• Islamic Account:

• Compliant with Sharia law

• No swap fees

• Flexible trading options

• Demo Account:

• Risk-free environment

• Ideal for strategy testing

• No financial commitment required

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN

• Limited advanced features

• ECN Account:

• Commission fees can add up

• Requires a higher minimum deposit

• Pro Account:

• Higher minimum deposit

• More complex features may overwhelm beginners

• Islamic Account:

• Limited to specific trading instruments

• May have higher spreads

• Demo Account:

• No real money involved

• Limited duration for practice

saman bank Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents of Iran and select countries.
• Prohibited Countries: Specific countries may be restricted due to regulatory compliance (details not specified).
• Identity Verification Documents Needed:
• National ID or passport
• Proof of address (utility bill or bank statement)
• Proof of Residence Requirements: Recent utility bill or bank statement showing the applicant's name and address.
• Additional Documentation for Professional Accounts: May require financial statements or proof of trading experience.

KYC/AML Compliance Procedures

• Saman Bank adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, requiring verification of identity and source of funds.

Verification Time Frames

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

Step-by-Step saman bank Account Opening Guide

Detailed Registration Process

1. Visit the Website: Go to the Saman Bank official website.
2. Click Registration: Locate and click on the "Open Account" button.
3. Personal Information Entry: Fill in personal details such as name, email, and phone number.
4. Choose Account Type: Select the desired account type from the options available.
5. Set Trading Preferences: Specify trading preferences, including leverage and trading instruments.
6. Document Upload: Upload required identity verification and proof of residence documents.
7. Account Verification: Wait for the bank to verify your documents.
8. Fund Your Account: Once verified, deposit the minimum required amount to activate your account.
9. 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 mobile users may have a more streamlined experience with fewer steps.

Common Registration Issues and Solutions

• Issue: Document upload fails.
• Solution: Ensure documents are in the correct format and size.
• Issue: Verification takes too long.
• Solution: Contact customer support for assistance.

Average Account Approval Time

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

How to Upgrade/Downgrade Account Types

• Account holders can request to change their account type through customer support, subject to meeting the new account type requirements.

saman bank Demo Account Guide

Demo Account Features and Benefits

• Provides a risk-free environment to practice trading strategies.
• Access to all trading instruments available in live accounts.
• Unlimited virtual funds for trading practice.

How to Open a Demo Account

• Follow the same registration process as for a live account, selecting the demo option during account type selection.

Demo Account Limitations

• No real money can be withdrawn.
• Limited duration depending on bank policy.

Virtual Balance Amount

• Typically set at $10,000 or equivalent in virtual currency.

Demo vs Live Account Differences

• Demo accounts use virtual funds, while live accounts require real money deposits.

Duration/Expiry of Demo Accounts

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

saman bank Islamic Account Details

Swap-Free/Islamic Account Availability

• Saman Bank offers Islamic accounts that comply with Sharia law, ensuring no swap fees are charged.

Eligibility Requirements

• Must be a Muslim trader seeking a compliant trading option.

Differences from Standard Accounts

• Islamic accounts have no swap fees and may have different spread structures.

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 limitations on certain trading strategies that involve swaps.

FAQs – saman bank Account Types & Opening

1. What account types does saman bank offer？

• Saman Bank offers Standard, ECN, Pro, Islamic, and Demo accounts.

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

• Standard: Varies, ECN: $500, Pro: $1,000, Islamic: $500, Demo: Virtual funds.

1. How long does saman bank account verification take？

• Verification typically takes 1-3 business days.

1. Does saman bank offer demo accounts？

• Yes, Saman Bank provides demo accounts for practice.

1. Can I have multiple account types with saman bank？

• Yes, account holders can maintain multiple account types.

1. Does saman bank offer Islamic/swap-free accounts？

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

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

• National ID or passport, proof of address, and any additional documents for professional accounts.

1. Can I change my account type after registration？

• Yes, you can request to change your account type through customer support.