SINKS broker Accounts

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

sinks Account Types Explained

When considering trading with sinks, understanding the different account types available is crucial. Each account type is tailored to meet specific trading needs, whether for beginners or advanced traders. Below is a comprehensive overview of the available sinks 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: Ideal for beginners, access to a wide range of trading instruments, and educational resources.
• Target User Profile: Beginner to intermediate traders
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies

2. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Raw spreads starting from 0.0 pips, with a commission of $3 per lot
• Leverage Options: Up to 1:200
• Key Features: Direct market access, lower spreads, and faster execution speeds.
• Target User Profile: Advanced traders and scalpers
• Trading Instruments Available: Forex, commodities, indices

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Competitive spreads starting from 0.5 pips with a commission of $2 per lot
• Leverage Options: Up to 1:400
• Key Features: Enhanced trading conditions, priority customer support, and advanced trading tools.
• Target User Profile: Professional traders and institutions
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies

4. Islamic Account

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

5. Demo Account

• Minimum Deposit Requirement: Virtual funds (typically $10,000)
• Spread/Commission Structure: Similar to Standard accounts
• Leverage Options: Up to 1:500
• Key Features: Risk-free environment to practice trading strategies and familiarize with the trading platform.
• Target User Profile: All traders, especially beginners
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies

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: Demo Account

Detailed sinks Account Features

Comparison of Features Across Different Account Types

Advantages of Each Account Type

• Standard Account:

• User-friendly for beginners

• Access to educational resources

• Wide range of trading instruments

• ECN Account:

• Lower spreads and faster execution

• Direct market access

• Ideal for scalping strategies

• Pro Account:

• Enhanced trading conditions

• Priority customer support

• Advanced trading tools available

• Islamic Account:

• Complies with Sharia law

• No interest charges

• Suitable for Muslim traders

• Demo Account:

• Risk-free trading environment

• Practice strategies without financial risk

• Familiarization with trading platforms

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN

• Limited advanced features

• ECN Account:

• Higher minimum deposit requirement

• Commission fees may add up for frequent traders

• Pro Account:

• Higher minimum deposit requirement

• Complexity may not suit beginners

• Islamic Account:

• Limited availability for non-Muslim traders

• Similar features to Standard accounts

• Demo Account:

• No real money trading experience

• Limited duration for practice

sinks Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Some countries may be restricted; check with sinks for specific locations.
• Prohibited Countries: Countries under international sanctions may not be eligible.
• Identity Verification Documents Needed:
• Government-issued ID (passport, driver's license)
• Social Security Number or Tax Identification Number
• Proof of Residence Requirements: Recent utility bill or bank statement with your name and address.
• Additional Documentation for Professional Accounts: Financial statements or proof of trading experience may be required.

KYC/AML Compliance Procedures

• All applicants must undergo Know Your Customer (KYC) and Anti-Money Laundering (AML) checks to verify identity and source of funds.

Verification Time Frames

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

sinks Account Opening Process

Step-by-Step sinks Account Opening Guide

1. Visit Website and Click Registration: Go to the sinks official website and locate the registration button.
2. Personal Information Entry: Fill in your personal details, including name, email, and phone number.
3. Choose Account Type: Select the type of account you wish to open (Standard, ECN, Pro, Islamic, or Demo).
4. Set Trading Preferences: Indicate your trading preferences and risk tolerance.
5. Document Upload: Upload required identification and proof of residence documents.
6. Account Verification: Wait for the verification process to complete.
7. Fund Your Account: Deposit the minimum required amount to activate your account.
8. Start Trading: Once your account is funded, you can begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar across both platforms, although mobile registration may have additional prompts for app permissions.

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 updates on your application status.

Average Account Approval Time

• Typically, accounts are approved within 1 to 3 business days, depending on the completeness of the application.

How to Upgrade/Downgrade Account Types

• Account type changes can usually be requested through customer support or the user dashboard, subject to verification of eligibility for the new account type.

sinks Demo Account Guide

Demo Account Features and Benefits

• Provides a risk-free environment to practice trading strategies.
• Access to the same trading platform and instruments as live accounts.
• Ideal for beginners to gain confidence before trading with real money.

How to Open a Demo Account

• Visit the sinks website and select the demo account option during registration.
• Fill out the required information and create a username and password.

Demo Account Limitations

• Limited to virtual funds (typically $10,000).
• Time-limited access, usually expiring after 30 days unless extended.

Virtual Balance Amount

• Standard virtual balance is typically $10,000, allowing traders to practice without financial risk.

Demo vs Live Account Differences

• Demo accounts use virtual funds, while live accounts require real money deposits.
• Trading conditions may vary slightly due to market conditions.

Duration/Expiry of Demo Accounts

• Demo accounts usually last for 30 days, with the option to extend based on user activity.

sinks Islamic Account Details

Swap-Free/Islamic Account Availability

• sinks offers Islamic accounts that comply with Sharia law, ensuring no interest charges on overnight positions.

Eligibility Requirements

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

Differences from Standard Accounts

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

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; consult with customer support for details.

FAQs – sinks Account Types & Opening

1. What account types does sinks offer？

• sinks 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: Virtual funds.

1. How long does sinks account verification take？

• Verification typically takes 1 to 3 business days.

1. Does sinks offer demo accounts？

• Yes, sinks provides demo accounts for practice trading.

1. Can I have multiple account types with sinks？

• Yes, traders can open multiple account types, subject to eligibility.

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

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

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

• A government-issued ID and proof of residence are required.

1. Can I change my account type after registration？

• Yes, account type changes can be requested through customer support or the user dashboard.