Tower broker Accounts

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

tower Account Types Explained

Available Account Types

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.5 pips; no commission.
• Leverage Options: Up to 1:500.
• Key Features: Basic trading features, access to all major trading instruments.
• Target User Profile: Beginners and casual traders.
• Trading Instruments Available: Forex, commodities, indices.

1. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Spreads from 0.1 pips; commission of $5 per lot.
• Leverage Options: Up to 1:200.
• Key Features: Direct market access, lower spreads, faster execution.
• Target User Profile: Intermediate to advanced traders.
• Trading Instruments Available: Forex, commodities, cryptocurrencies.

1. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Spreads from 0.0 pips; commission of $3 per lot.
• 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, stocks.

1. Islamic Account

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

1. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds).
• Spread/Commission Structure: Same as Standard Account.
• Leverage Options: Up to 1:500.
• Key Features: Practice trading with virtual funds; access to all trading instruments.
• Target User Profile: Beginners and traders testing strategies.
• Trading Instruments Available: Forex, commodities, indices.

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Detailed tower Account Features

Account Features Comparison

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit.

• No commission fees.

• Suitable for beginners.

• Access to a wide range of instruments.

• ECN Account:

• Lower spreads.

• Direct market access.

• Faster execution speeds.

• Ideal for scalpers and high-frequency traders.

• Pro Account:

• Best for professional traders.

• Advanced trading tools and features.

• Priority customer support.

• Competitive trading conditions.

• Islamic Account:

• Complies with Sharia law.

• No swap fees.

• Suitable for Muslim traders.

• Demo Account:

• Risk-free trading environment.

• Practice with virtual funds.

• Access to all trading instruments.

• Ideal for testing strategies.

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN accounts.

• Limited advanced features.

• ECN Account:

• Higher minimum deposit requirement.

• Commission fees may add up for frequent traders.

• Pro Account:

• Significant minimum deposit.

• Not suitable for casual traders.

• Islamic Account:

• Limited availability of advanced features.

• Demo Account:

• No real money involved.

• Limited to virtual trading experience.

tower Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Availability may vary by region; check specific country eligibility.
• Prohibited Countries: Some countries may be restricted from opening accounts due to regulatory reasons.

Identity Verification Documents Needed

• Government-issued photo ID (passport, driver's license).
• Proof of residence (utility bill, bank statement).

Additional Documentation for Professional Accounts

• Financial statements or proof of income may be required for Pro Accounts.

KYC/AML Compliance Procedures

• Complete Know Your Customer (KYC) verification.
• Anti-Money Laundering (AML) checks performed during registration.

Verification Time Frames

• Account verification typically takes 1-3 business days.

Step-by-Step tower Account Opening Guide

Registration Process

1. Visit Website: Go to the official tower trading platform.
2. Click Registration: Locate and click on the registration button.
3. Personal Information Entry: Fill in required personal details (name, email, phone number).
4. Choose Account Type: Select the desired account type from the options available.
5. Set Trading Preferences: Specify trading preferences and settings.
6. Document Upload: Upload necessary identification and proof of residence documents.
7. Account Verification: Wait for the verification process to complete.
8. Fund Your Account: Deposit funds 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, though the interface may vary slightly.

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 1-3 business days.

How to Upgrade/Downgrade Account Types

• Log into your account and navigate to the account settings to request an upgrade or downgrade.

tower Demo Account Guide

Demo Account Features and Benefits

• Practice trading without financial risk.
• Access to all trading instruments available in live accounts.
• Ideal for testing strategies and familiarizing with the trading platform.

How to Open a Demo Account

• Follow the same registration process but select the demo account option.

Demo Account Limitations

• Limited to virtual funds; cannot be used for real trading.

Virtual Balance Amount

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

Demo vs Live Account Differences

• Demo accounts use virtual funds, while live accounts require real money deposits.

Duration/Expiry of Demo Accounts

• Demo accounts may expire after a set period, usually 30 days, but can often be renewed.

tower Islamic Account Details

Swap-Free/Islamic Account Availability

• Islamic accounts are available and comply with Sharia law.

Eligibility Requirements

• Must declare the need for an Islamic account during registration.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees for overnight positions.

How to Apply for Islamic Account

• Select the Islamic account option during the registration process.

Restrictions or Special Conditions

• Islamic accounts may have specific trading conditions or limitations.

FAQs – tower Account Types & Opening

1. What account types does tower offer？

• Tower 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: N/A.

1. How long does tower account verification take？

• Account verification typically takes 1-3 business days.

1. Does tower offer demo accounts？

• Yes, tower offers demo accounts for practice trading.

1. Can I have multiple account types with tower？

• Yes, you can have multiple account types.

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

• Yes, tower offers Islamic accounts that comply with Sharia law.

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

• A government-issued photo 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 through account settings.