SKUNG broker Accounts

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

Part 1: skung Account Types Explained

Available Account Types

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.5 pips
• Leverage Options: Up to 1:500
• Key Features: Ideal for beginners; access to basic trading tools and resources.
• Target User Profile: Beginners
• Trading Instruments Available: Forex, commodities, indices

1. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Low spreads starting from 0.1 pips; commission of $5 per lot
• Leverage Options: Up to 1:200
• Key Features: Direct market access; ideal for scalpers and high-frequency traders.
• Target User Profile: Advanced traders
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

1. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Fixed spreads starting from 1 pip; lower commission rates
• Leverage Options: Up to 1:300
• Key Features: Enhanced trading conditions; priority customer support.
• Target User Profile: Professional traders
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

1. Islamic Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Similar to Standard or ECN accounts but swap-free
• Leverage Options: Up to 1:200
• Key Features: Complies with Sharia law; no swap fees.
• Target User Profile: Muslim traders
• Trading Instruments Available: Forex, commodities, indices

1. Demo Account

• Minimum Deposit Requirement: Virtual funds
• Spread/Commission Structure: Same as Standard account
• Leverage Options: Up to 1:500
• Key Features: Risk-free environment to practice trading strategies.
• Target User Profile: Beginners and those testing strategies
• Trading Instruments Available: Forex, commodities, indices

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
• Practicing Traders: Demo Account

Part 2: skung Account Features Comparison

Detailed skung Account Features

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $500

• Demo: Virtual funds

• Maximum Leverage:

• Standard: 1:500

• ECN: 1:200

• Pro: 1:300

• Islamic: 1:200

• Demo: 1:500

• Spreads (typical/minimum):

• Standard: 1.5 pips

• ECN: 0.1 pips

• Pro: 1 pip

• Islamic: Similar to Standard

• Demo: Same as Standard

• Commission Fees:

• Standard: None

• ECN: $5 per lot

• Pro: Lower rates

• Islamic: None

• Demo: None

• Lot Size:

• Standard: Micro

• ECN: Mini/Standard

• Pro: Mini/Standard

• Islamic: Mini/Standard

• Demo: Micro

• Available Trading Platforms:

• Standard: MT4

• ECN: MT4/MT5

• Pro: MT4/MT5

• Islamic: MT4/MT5

• Demo: MT4

• Execution Type:

• Standard: Market

• ECN: ECN

• Pro: Instant

• Islamic: Market

• Demo: Market

• Islamic Account Availability: Yes for Islamic Account

• Swap-Free Options: Yes for Islamic Account

• Demo Account Features: Virtual trading with real market conditions

• Advantages of Each Account Type:

• Standard: Easy to use, no commissions

• ECN: Low spreads, fast execution

• Pro: Lower fees, enhanced support

• Islamic: Compliant with religious beliefs

• Demo: Safe practice environment

• Disadvantages of Each Account Type:

• Standard: Higher spreads

• ECN: Requires higher deposit

• Pro: Higher minimum deposit

• Islamic: Limited to specific trading conditions

• Demo: Limited duration and funds

Part 3: skung Account Registration Requirements

skung Account Registration Requirements

• Eligibility Criteria:

• Age Requirements: Must be at least 18 years old

• Geographic Restrictions: Available in most countries; check local regulations

• Prohibited Countries: Specific countries may be restricted (check with skung)

• Identity Verification Documents Needed:

• Government-issued ID (passport, drivers license)

• Proof of residence (utility bill, bank statement)

• Additional Documentation for Professional Accounts:

• Proof of income or financial statements may be required

• KYC/AML Compliance Procedures:

• All accounts must undergo Know Your Customer (KYC) and Anti-Money Laundering (AML) checks.

• Verification Time Frames:

• Account verification typically takes 1-3 business days.

Part 4: skung Account Opening Process

Step-by-Step skung Account Opening Guide

1. Visit Website and Click Registration: Go to the skung 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 suits your trading needs.
4. Set Trading Preferences: Indicate your trading preferences and risk tolerance.
5. Document Upload: Upload the required identity verification documents.
6. Account Verification: Wait for the account to be verified by skung.
7. Fund Your Account: Deposit funds into your account using the available payment methods.
8. Start Trading: Once your account is funded, you can start trading.

• Desktop vs Mobile Registration Differences: The registration process is similar on both platforms, but mobile may have additional security features like biometric verification.
• Common Registration Issues and Solutions: Ensure all documents are clear and legible; double-check personal information for accuracy.
• Average Account Approval Time: Generally, 1-3 business days.
• How to Upgrade/Downgrade Account Types: Contact customer support for assistance with changing account types.

Part 5: skung Demo Account Information

skung Demo Account Guide

• Demo Account Features and Benefits:

• Risk-free trading environment

• Access to real market conditions

• Practice trading strategies without financial risk

• How to Open a Demo Account:

• Sign up on the skung website and select the demo account option.

• Demo Account Limitations:

• Limited duration (typically 30 days)

• Virtual funds may be capped

• Virtual Balance Amount: Usually provided with a virtual balance of $10,000.

• Demo vs Live Account Differences:

• Demo accounts use virtual funds; live accounts involve real money.

• Market conditions may differ slightly due to liquidity and execution speed.

• Duration/Expiry of Demo Accounts: Typically expires after 30 days of inactivity.

Part 6: skung Islamic Account Details

skung Islamic Account Details

• Swap-Free/Islamic Account Availability: Yes, skung offers Islamic accounts that comply with Sharia law.
• Eligibility Requirements: Must provide documentation confirming Islamic status.
• Differences from Standard Accounts: No swap fees; similar trading conditions to Standard accounts.
• How to Apply for Islamic Account: Indicate the request during the account registration process or contact customer support.
• Restrictions or Special Conditions: Must adhere to Islamic trading principles; no interest-based transactions.

FAQs – skung Account Types & Opening

1. What account types does skung offer？

• skung 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: $500, Demo: Virtual funds.

1. How long does skung account verification take？

• Verification typically takes 1-3 business days.

1. Does skung offer demo accounts？

• Yes, skung provides demo accounts for practice trading.

1. Can I have multiple account types with skung？

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

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

• Yes, skung offers Islamic accounts that are compliant with Sharia law.

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

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

1. Can I change my account type after registration？

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