STEEL CITY broker Accounts

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

Part 1: steel city Account Types Overview

steel city Account Types Explained

Steel City offers a variety of account types tailored to different trading needs and preferences. Below is a detailed overview of each account type available:

Recommended Account Types by Trader Level

• Beginners: Standard Account
• Intermediate: ECN Account
• Advanced: Pro Account
• Muslim Traders: Islamic Account
• All Levels: Demo Account

Part 2: steel city Account Features Comparison

Detailed steel city Account Features

The following table compares key features across different account types:

Advantages and Disadvantages of Each Account Type

Standard Account

• Advantages:
• Low minimum deposit
• User-friendly interface
• Access to all trading instruments
• Disadvantages:
• Higher spreads compared to ECN
• Limited advanced trading tools

ECN Account

• Advantages:
• Low spreads and fast execution
• Direct market access
• Suitable for scalpers and high-frequency traders
• Disadvantages:
• Higher minimum deposit
• Commission fees apply

Pro Account

• Advantages:
• Fixed spreads for better predictability
• Advanced trading tools available
• Tailored for institutional traders
• Disadvantages:
• High minimum deposit
• Limited leverage

Islamic Account

• Advantages:
• Compliant with Sharia law
• No swap fees
• Access to all trading instruments
• Disadvantages:
• Limited availability of advanced features

Demo Account

• Advantages:
• Risk-free trading environment
• Practice with virtual funds
• Access to all trading instruments
• Disadvantages:
• No real profit potential
• Limited duration before expiry

Part 3: steel city Account Opening Requirements

steel city Account Registration Requirements

To open an account with Steel City, the following eligibility criteria and documentation are required:

• Eligibility Criteria:

• Minimum age of 18 years

• Must be a resident of a country where Steel City operates

• No restrictions for residents of certain countries (specific prohibited countries not listed)

• Identity Verification Documents Needed:

• Government-issued ID (Passport, National ID)

• Proof of address (Utility bill, Bank statement)

• Proof of Residence Requirements:

• Recent utility bill or bank statement showing the applicant's name and address

• Additional Documentation for Professional Accounts:

• Proof of professional trading experience or qualifications may be required

• KYC/AML Compliance Procedures:

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

• Verification Time Frames:

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

Part 4: steel city Account Opening Process

Step-by-Step steel city Account Opening Guide

1. Visit Website and Click Registration:

• Go to the Steel City website and locate the account registration section.

1. Personal Information Entry:

• Fill in personal details such as name, email, and phone number.

1. Choose Account Type:

• Select the desired account type (Standard, ECN, Pro, Islamic, or Demo).

1. Set Trading Preferences:

• Specify trading preferences, including leverage and trading instruments.

1. Document Upload:

• Upload required identity verification documents.

1. Account Verification:

• Wait for the verification process to be completed by Steel City.

1. Fund Your Account:

• Deposit the minimum required amount to activate your account.

1. Start Trading:

• Once your account is funded and verified, you can begin trading.

Desktop vs Mobile Registration Differences

• The registration process is generally similar on both desktop and mobile platforms, but mobile users may have a more streamlined interface.

Common Registration Issues and Solutions

• Issue: Not receiving verification emails.

• Solution: Check spam/junk folders or ensure the correct email address was entered.

• Issue: Document upload errors.

• Solution: Ensure documents are clear and meet the specified requirements.

Average Account Approval Time

• The average account approval time is 1-3 business days, depending on the completeness of the submitted documentation.

How to Upgrade/Downgrade Account Types

• Users can contact customer support to request an upgrade or downgrade of their account type, subject to meeting the new account requirements.

Part 5: steel city Demo Account Information

steel city Demo Account Guide

• Demo Account Features and Benefits:

• Allows users to practice trading without financial risk.

• Provides access to all trading instruments available in live accounts.

• How to Open a Demo Account:

• Follow the same registration steps as for live accounts, selecting the demo option.

• Demo Account Limitations:

• Limited duration before expiry (typically 30 days).

• Virtual Balance Amount:

• Users are usually provided with a virtual balance of $10,000.

• Demo vs Live Account Differences:

• Demo accounts use virtual funds and do not involve real profits or losses.

• Duration/Expiry of Demo Accounts:

• Demo accounts typically expire after 30 days, but users may be able to request an extension.

Part 6: steel city Islamic Account (if available)

steel city Islamic Account Details

• Swap-Free/Islamic Account Availability:

• Steel City offers Islamic accounts that comply with Sharia law.

• Eligibility Requirements:

• Must be a Muslim trader seeking a swap-free trading option.

• 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, such as limits on certain trading strategies.

FAQs – steel city Account Types & Opening

1. What account types does steel city offer？

• Steel City offers Standard, ECN, Pro, Islamic, and Demo accounts.

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

• Standard Account: $100, ECN Account: $500, Pro Account: $1,000, Islamic Account: $100, Demo Account: N/A.

1. How long does steel city account verification take？

• Account verification typically takes 1-3 business days.

1. Does steel city offer demo accounts？

• Yes, Steel City offers demo accounts for practice trading.

1. Can I have multiple account types with steel city？

• Yes, users can open multiple account types as long as they meet the requirements.

1. Does steel city offer Islamic/swap-free accounts？

• Yes, Steel City offers Islamic accounts that are swap-free.

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

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

1. Can I change my account type after registration？

• Yes, you can request to upgrade or downgrade your account type through customer support.