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

soho markets Account Types Explained

Soho Markets offers a variety of account types to cater to different trading needs and preferences. Below is an overview of the 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: Access to a wide range of trading instruments, including forex, commodities, and indices.
• Target User Profile: Beginners and intermediate traders
• Trading Instruments Available: Forex pairs, commodities, indices

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.
• Target User Profile: Advanced traders and scalpers
• Trading Instruments Available: Forex pairs, commodities, indices, and cryptocurrencies

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Competitive spreads with lower commissions
• Leverage Options: Up to 1:100
• Key Features: Enhanced trading conditions, dedicated account manager, and advanced trading tools.
• Target User Profile: Professional traders and institutional clients
• Trading Instruments Available: All available instruments

4. Islamic Account

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

5. Demo Account

• Minimum Deposit Requirement: None (virtual funds)
• Spread/Commission Structure: Similar to Standard Account
• Leverage Options: Up to 1:500
• Key Features: Practice trading with virtual funds, access to all trading instruments.
• Target User Profile: Beginners wanting to practice trading strategies
• Trading Instruments Available: Forex pairs, commodities, indices

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginners: Standard Account or Demo Account
• Intermediate: Standard Account or Islamic Account
• Advanced: ECN Account
• Professional: Pro Account

Detailed soho markets Account Features

Comparison of Features Across Different Account Types

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $100

• Demo: None

• Maximum Leverage:

• Standard: Up to 1:500

• ECN: Up to 1:200

• Pro: Up to 1:100

• Islamic: Up to 1:500

• Demo: Up to 1:500

• Spreads (Typical/Minimum):

• Standard: From 1.5 pips

• ECN: From 0.0 pips

• Pro: Competitive

• Islamic: Similar to Standard

• Demo: Similar to Standard

• Commission Fees:

• Standard: None

• ECN: $3 per lot

• Pro: Lower than ECN

• Islamic: None

• Demo: None

• Lot Size:

• Standard: Standard lots

• ECN: Micro, mini, and standard lots

• Pro: Standard lots

• Islamic: Standard lots

• Demo: Standard lots

• Available Trading Platforms:

• All accounts: MT4 and MT5

• Execution Type:

• Standard: Market execution

• ECN: ECN execution

• Pro: Market execution

• Islamic: Market execution

• Demo: Market execution

• Islamic Account Availability: Yes for Islamic Account

• Swap-Free Options: Available for Islamic Account

• Demo Account Features: Virtual trading with no risk

• Advantages of Each Account Type:

• Standard: Low entry barrier, user-friendly

• ECN: Tight spreads, fast execution

• Pro: Professional tools, dedicated support

• Islamic: Compliant with Islamic finance

• Demo: Risk-free practice environment

• Disadvantages of Each Account Type:

• Standard: Higher spreads compared to ECN

• ECN: Higher minimum deposit

• Pro: Higher minimum deposit

• Islamic: Limited to swap-free trading

• Demo: No real profit generation

soho markets Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Services are not available in jurisdictions where they could violate local laws, including the United States and Turkey.
• Prohibited Countries: Specific countries may be restricted based on regulatory compliance.

Identity Verification Documents Needed

• Proof of Identity: Government-issued ID (passport or driver's license).
• Proof of Residence: Utility bill or bank statement showing your name and address.

Additional Documentation for Professional Accounts

• Proof of trading experience or financial status may be required.

KYC/AML Compliance Procedures

• All clients must undergo Know Your Customer (KYC) and Anti-Money Laundering (AML) checks to verify identity and prevent fraud.

Verification Time Frames

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

Step-by-Step soho markets Account Opening Guide

Detailed Registration Process

1. Visit Website: Go to the Soho Markets official website.
2. Click Registration: Click on the "Start Trading Now" or "Register Now" button.
3. Personal Information Entry: Fill in your personal details, including name, email, and phone number.
4. Choose Account Type: Select the account type that suits your trading needs.
5. Set Trading Preferences: Specify your trading preferences and risk tolerance.
6. Document Upload: Upload the required identity verification documents.
7. Account Verification: Wait for the verification process to complete.
8. Fund Your Account: Deposit funds into your trading account to start trading.
9. Start Trading: Access the trading platform and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, although the mobile interface may have a simplified layout.

Common Registration Issues and Solutions

• Issue: Document upload failure.
• Solution: Ensure documents are clear and in the correct format.
• Issue: Verification delays.
• 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

• Users can request an upgrade or downgrade through their account settings or by contacting customer support.

soho markets Demo Account Guide

Demo Account Features and Benefits

• The demo account allows traders to practice without financial risk, using virtual funds to simulate real trading conditions.

How to Open a Demo Account

• Visit the Soho Markets website, select the demo account option, and follow the registration steps similar to opening a live account.

Demo Account Limitations

• The demo account may have a limited duration or virtual balance, depending on the broker's policies.

Virtual Balance Amount

• Typically, demo accounts come with a virtual balance of $10,000 or similar.

Demo vs Live Account Differences

• Demo accounts do not involve real money, while live accounts require actual funds and can generate real profits or losses.

Duration/Expiry of Demo Accounts

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

soho markets Islamic Account Details

Swap-Free/Islamic Account Availability

• Soho Markets offers Islamic accounts that comply with Sharia law by providing swap-free trading options.

Eligibility Requirements

• Traders must declare their need for an Islamic account and may need to provide documentation.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, making them suitable for Muslim traders.

How to Apply for Islamic Account

• Traders can select the Islamic account option during the registration process or request it through customer support.

Restrictions or Special Conditions

• Islamic accounts may have specific trading conditions, such as limitations on certain trading strategies.

FAQs – soho markets Account Types & Opening

1. What account types does soho markets offer？

• Soho Markets 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: None.

1. How long does soho markets account verification take？

• Verification typically takes 1-3 business days.

1. Does soho markets offer demo accounts？

• Yes, a demo account is available for practice trading.

1. Can I have multiple account types with soho markets？

• Yes, traders can hold multiple account types.

1. Does soho markets offer Islamic/swap-free accounts？

• Yes, Islamic accounts are available.

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

• A government-issued 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.