SANKALP broker Accounts

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

sankalp Account Types Explained

Sankalp 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. Sankalp Standard Account

• Minimum Deposit Requirement: ₹10,000
• Spread/Commission Structure: Variable spreads starting from 2 pips
• Leverage Options: Up to 1:100
• Key Features: Basic trading tools, access to educational resources
• Target User Profile: Beginners
• Trading Instruments Available: Forex, commodities, indices

2. Sankalp ECN Account

• Minimum Deposit Requirement: ₹25,000
• Spread/Commission Structure: Tight spreads starting from 0.1 pips + commission of ₹20 per lot
• Leverage Options: Up to 1:200
• Key Features: Direct market access, advanced trading tools
• Target User Profile: Intermediate to advanced traders
• Trading Instruments Available: Forex, commodities, cryptocurrencies

3. Sankalp Pro Account

• Minimum Deposit Requirement: ₹50,000
• Spread/Commission Structure: Variable spreads starting from 0.5 pips + lower commission fees
• Leverage Options: Up to 1:300
• Key Features: Advanced trading platforms, personalized support
• Target User Profile: Professional traders
• Trading Instruments Available: Forex, commodities, indices, stocks

4. Sankalp Islamic Account

• Minimum Deposit Requirement: ₹10,000
• Spread/Commission Structure: Similar to Standard Account
• Leverage Options: Up to 1:100
• Key Features: Swap-free trading options
• Target User Profile: Traders adhering to Islamic finance principles
• Trading Instruments Available: Forex, commodities

5. Sankalp Demo Account

• Minimum Deposit Requirement: N/A (virtual funds)
• Spread/Commission Structure: N/A
• Leverage Options: N/A
• Key Features: Practice trading without risk, access to all trading instruments
• Target User Profile: Beginners and those testing strategies
• Trading Instruments Available: All available instruments

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginners: Sankalp Standard Account
• Intermediate Traders: Sankalp ECN Account
• Advanced Traders: Sankalp Pro Account
• Islamic Traders: Sankalp Islamic Account
• Practice Traders: Sankalp Demo Account

Detailed sankalp Account Features

Comparison of Features Across Different Account Types

Advantages and Disadvantages of Each Account Type

Standard Account

• Advantages:
• Low minimum deposit
• Educational resources available
• Suitable for beginners
• Disadvantages:
• Higher spreads
• Limited advanced features

ECN Account

• Advantages:
• Tight spreads
• Direct market access
• Suitable for active traders
• Disadvantages:
• Higher minimum deposit
• Commission fees apply

Pro Account

• Advantages:
• Lowest spreads
• Personalized support
• Advanced trading tools
• Disadvantages:
• High minimum deposit
• More complex for beginners

Islamic Account

• Advantages:
• Complies with Islamic finance principles
• No swap fees
• Disadvantages:
• Limited availability of features compared to other accounts

Demo Account

• Advantages:
• Risk-free trading
• Full access to trading instruments
• Disadvantages:
• No real money involved
• Limited to virtual funds

sankalp Account Registration Requirements

Eligibility Criteria

• Age Requirements: Minimum age of 18 years
• Geographic Restrictions: Available to residents of India and select countries
• Prohibited Countries: Countries under international sanctions
• Identity Verification Documents Needed:
• Government-issued ID (Aadhaar, Passport, etc.)
• PAN Card
• Proof of Residence Requirements:
• Utility bill
• Bank statement
• Additional Documentation for Professional Accounts: Business registration documents, proof of income

KYC/AML Compliance Procedures

• Complete the Know Your Customer (KYC) process by submitting required documents.
• Anti-Money Laundering (AML) checks will be conducted as per regulatory requirements.

Verification Time Frames

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

Step-by-Step sankalp Account Opening Guide

Detailed Registration Process

1. Visit Website: Go to the official sankalp website.
2. Click Registration: Click on the "Open Account" button.
3. Personal Information Entry: Fill out the required personal information form.
4. Choose Account Type: Select the desired account type from the options available.
5. Set Trading Preferences: Specify your trading preferences and risk appetite.
6. Document Upload: Upload the necessary identity and residence verification documents.
7. Account Verification: Wait for the verification process to complete.
8. Fund Your Account: Deposit the minimum required amount to activate your account.
9. Start Trading: Once your account is funded, you can 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.

Common Registration Issues and Solutions

• Issue: Document upload failure
• Solution: Ensure documents are clear and in the required format.
• Issue: Verification delays
• Solution: Contact customer support for assistance.

Average Account Approval Time

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

How to Upgrade/Downgrade Account Types

• Users can request to upgrade or downgrade their account type through the customer support portal or by contacting their account manager.

sankalp Demo Account Guide

Demo Account Features and Benefits

• The demo account allows users to practice trading with virtual funds and access all available trading instruments.

How to Open a Demo Account

• Visit the sankalp website and select the option to open a demo account. Fill out the registration form and submit.

Demo Account Limitations

• The demo account is limited to virtual funds and does not provide real trading experience.

Virtual Balance Amount

• Users typically receive a virtual balance of ₹1,000,000 to practice trading.

Demo vs Live Account Differences

• The demo account uses virtual funds, while the live account involves real money trading.

Duration/Expiry of Demo Accounts

• Demo accounts typically remain active for 30 days, after which users may need to reapply.

sankalp Islamic Account Details

Swap-Free/Islamic Account Availability

• Sankalp offers an Islamic account option that complies with Islamic finance principles.

Eligibility Requirements

• Users must request the Islamic account during the registration process and provide necessary documentation.

Differences from Standard Accounts

• The Islamic account does not incur swap fees, making it suitable for traders adhering to Islamic laws.

How to Apply for Islamic Account

• Select the Islamic account option during the account registration process and provide required documentation.

Restrictions or Special Conditions

• Islamic accounts may have specific trading conditions, including restrictions on certain instruments.

FAQs – sankalp Account Types & Opening

1. What account types does sankalp offer？

• Sankalp offers Standard, ECN, Pro, Islamic, and Demo accounts.

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

• Standard: ₹10,000, ECN: ₹25,000, Pro: ₹50,000, Islamic: ₹10,000, Demo: N/A.

1. How long does sankalp account verification take？

• Verification typically takes 1-3 business days.

1. Does sankalp offer demo accounts？

• Yes, sankalp offers a demo account for practice trading.

1. Can I have multiple account types with sankalp？

• Yes, users can hold multiple account types.

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

• Yes, sankalp offers an Islamic account option.

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

• Government-issued ID, PAN Card, proof of residence, and additional documents for professional accounts.

1. Can I change my account type after registration？

• Yes, users can request to upgrade or downgrade their account type.