SP Markets broker Accounts

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

sp markets Account Types Explained

sp markets offers a variety of account types tailored to meet the diverse needs of traders. Below is an overview of the available account types, including their features, minimum deposit requirements, and target user profiles.

Available Account Types

1. Standard Account

• Minimum Deposit: $100
• Spread/Commission Structure: Variable spreads starting from 1.0 pips; no commission.
• Leverage Options: Up to 1:500.
• Key Features: User-friendly interface, suitable for beginners.
• Target User Profile: Beginners and casual traders.
• Trading Instruments Available: Forex, commodities, indices.

1. ECN Account

• Minimum Deposit: $500
• Spread/Commission Structure: Raw spreads starting from 0.0 pips; commission of $3.50 per lot.
• Leverage Options: Up to 1:200.
• Key Features: Direct market access, faster execution.
• Target User Profile: Experienced traders and scalpers.
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies.

1. Pro Account

• Minimum Deposit: $5,000
• Spread/Commission Structure: Competitive spreads; commission-based pricing.
• Leverage Options: Up to 1:100.
• Key Features: Advanced trading tools, priority customer support.
• Target User Profile: Professional traders and institutions.
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies.

1. Islamic Account

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

1. Demo Account

• Minimum Deposit: N/A (virtual funds).
• Spread/Commission Structure: Simulated trading conditions.
• Leverage Options: Up to 1:500.
• Key Features: Practice trading without risk, access to all trading instruments.
• Target User Profile: Beginners and traders testing strategies.
• Trading Instruments Available: Forex, commodities, indices, 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
• Strategy Testing: Demo Account

Detailed sp markets Account Features

Comparison of Features Across Different Account Types

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $5,000

• Islamic: $100

• Demo: N/A

• 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: Variable from 1.0 pips

• ECN: Raw from 0.0 pips

• Pro: Competitive spreads

• Islamic: Variable from 1.0 pips

• Demo: Simulated conditions

• Commission Fees:

• Standard: None

• ECN: $3.50 per lot

• Pro: Variable

• Islamic: None

• Demo: None

• Lot Size:

• Standard: Micro (0.01)

• ECN: Mini (0.1) and Standard (1.0)

• Pro: Mini (0.1) and Standard (1.0)

• Islamic: Micro (0.01)

• Demo: Micro (0.01)

• Available Trading Platforms:

• All accounts: MT4, MT5, proprietary platform.

• Execution Type:

• Standard: Market execution

• ECN: ECN execution

• Pro: Market execution

• Islamic: Market execution

• Demo: Market execution

• Islamic Account Availability:

• Islamic: Yes

• Standard: No

• ECN: No

• Pro: No

• Demo: No

• Swap-Free Options:

• Available for Islamic accounts only.

• Demo Account Features:

• Virtual balance for practice trading, access to all instruments, no time limit for use.

Advantages and Disadvantages of Each Account Type

• Standard Account:

• Advantages: Low minimum deposit, no commission, suitable for beginners.

• Disadvantages: Higher spreads compared to ECN.

• ECN Account:

• Advantages: Raw spreads, faster execution, ideal for scalping.

• Disadvantages: Higher minimum deposit, commission fees.

• Pro Account:

• Advantages: Advanced features, priority support, competitive pricing.

• Disadvantages: High minimum deposit.

• Islamic Account:

• Advantages: Compliant with Sharia law, no overnight fees.

• Disadvantages: Limited features compared to Pro accounts.

• Demo Account:

• Advantages: Risk-free trading environment, practice strategies.

• Disadvantages: Limited to virtual funds, not suitable for live trading experience.

sp markets Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available in most countries; however, specific regions may be restricted.
• Prohibited Countries: Countries under international sanctions may not be eligible.
• Identity Verification Documents Needed:
• Government-issued ID (passport or driver's license).
• Proof of address (utility bill or bank statement).
• Proof of Residence Requirements: Recent documents showing your name and address.
• Additional Documentation for Professional Accounts: Financial statements or proof of trading experience may be required.

KYC/AML Compliance Procedures

sp markets adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring all clients to provide identification and proof of residence during the registration process.

Verification Time Frames

Account verification typically takes between 24 to 48 hours, depending on the completeness of the submitted documents.

Step-by-Step sp markets Account Opening Guide

Detailed Registration Process

1. Visit Website and Click Registration: Go to the sp markets website and find the registration link.
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, including leverage and trading instruments.
5. Document Upload: Upload the required identification and proof of residence documents.
6. Account Verification: Wait for the verification process to be completed.
7. Fund Your Account: Deposit funds into your account using the available payment methods.
8. 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, with minor differences in layout and navigation.

Common Registration Issues and Solutions

• Issue: Document upload failures.
• Solution: Ensure documents are clear and in the correct format (PDF, JPEG).
• Issue: Delayed verification.
• Solution: Contact customer support for assistance.

Average Account Approval Time

The average account approval time is between 24 to 48 hours, depending on the verification process.

How to Upgrade/Downgrade Account Types

To change your account type, contact customer support for guidance on the process and any necessary documentation.

sp markets Demo Account Guide

Demo Account Features and Benefits

• Features: Access to all trading instruments, simulated trading environment, and practice without risk.
• Benefits: Ideal for beginners to learn trading strategies and for experienced traders to test new strategies.

How to Open a Demo Account

Visit the sp markets website and select the demo account option to register.

Demo Account Limitations

Demo accounts may have limitations on the duration of use and the amount of virtual funds available.

Virtual Balance Amount

Typically, demo accounts come with a virtual balance of $10,000 or more, depending on the broker's policy.

Demo vs Live Account Differences

Demo accounts simulate trading conditions without real financial risk, while live accounts involve actual trading with real funds.

Duration/Expiry of Demo Accounts

Demo accounts may remain active for a limited time, often 30 days, after which they may require renewal.

sp markets Islamic Account Details

Swap-Free/Islamic Account Availability

sp markets offers Islamic accounts that comply with Sharia law, providing a swap-free trading option.

Eligibility Requirements

To qualify for an Islamic account, clients must declare their adherence to Islamic finance principles.

Differences from Standard Accounts

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

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 and restrictions on certain instruments.

FAQs – sp markets Account Types & Opening

1. What account types does sp markets offer？

• sp markets offers Standard, ECN, Pro, Islamic, and Demo accounts.

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

• Standard: $100, ECN: $500, Pro: $5,000, Islamic: $100, Demo: N/A.

1. How long does sp markets account verification take？

• Verification typically takes 24 to 48 hours.

1. Does sp markets offer demo accounts？

• Yes, sp markets provides demo accounts for practice trading.

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

• Yes, clients can open multiple account types.

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

• Yes, Islamic accounts are available.

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

• 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.