TFB offers a variety of account types tailored to meet the needs of different traders. Below is an overview of the available account types along with their key features:
| Account Type | Minimum Deposit | Spread/Commission Structure | Leverage Options | Key Features | Target User Profile | Trading Instruments Available |
|---|---|---|---|---|---|---|
| Standard Account | $100 | Variable spreads from 1.0 pips | Up to 1:500 | Basic trading features, suitable for beginners | Beginner | Forex, commodities, indices |
| ECN Account | $500 | Commission-based (e.g., $3 per lot) | Up to 1:200 | Direct market access, tight spreads | Advanced | Forex, cryptocurrencies |
| Pro Account | $1,000 | Variable spreads from 0.5 pips | Up to 1:100 | Advanced trading tools, tailored for professionals | Institutional | Forex, commodities, indices |
| Islamic Account | $500 | No interest on overnight positions | Up to 1:200 | Swap-free trading options | Muslim traders | Forex, commodities |
| Demo Account | $0 | N/A | N/A | Virtual trading environment | All levels | Forex, commodities, indices |
When comparing the features of different tfb account types, the following aspects are crucial:
| Feature | Standard Account | ECN Account | Pro Account | Islamic Account | Demo Account |
|---|---|---|---|---|---|
| Minimum Deposit | $100 | $500 | $1,000 | $500 | $0 |
| Maximum Leverage | 1:500 | 1:200 | 1:100 | 1:200 | N/A |
| Spreads (Typical/Minimum) | 1.0 pips | 0.0 pips + commission | 0.5 pips | N/A | N/A |
| Commission Fees | None | $3 per lot | None | None | N/A |
| Lot Size | Standard | Micro | Standard | Standard | N/A |
| Trading Platforms | MT4/MT5 | MT4/MT5 | MT4/MT5 | MT4/MT5 | MT4/MT5 |
| Execution Type | Market | ECN | Market | Market | N/A |
| Islamic Account Availability | No | No | No | Yes | No |
| Swap-Free Options | No | No | No | Yes | No |
| Demo Account Features | No | No | No | No | Yes, virtual balance |
| Advantages | Easy to use, low deposit | Low spreads, fast execution | Advanced tools, high leverage | Compliant with Islamic law | Risk-free practice |
| Disadvantages | Higher spreads | Commission fees apply | High minimum deposit | Limited to Muslim traders | Limited to virtual funds |
To open a tfb account, the following eligibility criteria and documentation are required:
Eligibility Criteria:
Age requirement: Minimum 18 years old
Geographic restrictions: Available in most countries, but check local regulations
Prohibited countries: Countries under sanctions or restrictions by the broker
Identity Verification Documents Needed:
Government-issued ID (passport, drivers license)
Proof of residence (utility bill, bank statement)
Additional Documentation for Professional Accounts:
Proof of trading experience (if applicable)
KYC/AML Compliance Procedures:
Complete identity verification process
Submit required documents for review
Verification Time Frames:
Typically, account verification takes 1-3 business days.
To open a tfb account, follow these steps:
Issue: Document upload errors.
Solution: Ensure documents are clear and meet the required format.
Issue: Delayed verification.
Solution: Contact customer support for assistance.
Demo Account Features and Benefits:
Provides a risk-free environment to practice trading.
Access to all trading instruments available in live accounts.
How to Open a Demo Account:
Visit the tfb website and select the demo account option.
Fill in the required information and create your demo account.
Demo Account Limitations:
Virtual balance may be limited (e.g., $10,000).
No real profits can be made.
Virtual Balance Amount:
Typically set at $10,000 for practice purposes.
Demo vs Live Account Differences:
Demo accounts use virtual funds, while live accounts require real money deposits.
No emotional pressure in demo trading compared to live trading.
Duration/Expiry of Demo Accounts:
Demo accounts usually remain active for 30 to 90 days.
Swap-Free/Islamic Account Availability:
TFB offers an Islamic account that complies with Sharia law.
Eligibility Requirements:
Must be a Muslim trader.
Differences from Standard Accounts:
No interest or swap fees applied to overnight positions.
How to Apply for Islamic Account:
Select the Islamic account option during registration or contact customer support.
Restrictions or Special Conditions:
Must adhere to Islamic trading principles.
Explore broker markets account types: forex/trading accounts with demo access.