TrueFriend broker Accounts

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

Part 1: truefriend Account Types Overview

truefriend Account Types Explained

truefriend offers various account types tailored to meet the needs of different traders. Below is a detailed overview of the available account types:

Recommended Account Types by Trader Level

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

Part 2: truefriend Account Features Comparison

Detailed truefriend Account Features

When comparing the features across different truefriend account types, the following aspects are essential:

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $500

• Demo: Free

• Maximum Leverage:

• Standard: Up to 1:500

• ECN: Up to 1:200

• Pro: Up to 1:100

• Islamic: Up to 1:500

• Demo: N/A

• Spreads:

• Standard: Fixed from 1.0 pips

• ECN: Variable from 0.1 pips

• Pro: Variable from 0.0 pips

• Islamic: Fixed from 1.0 pips

• Demo: N/A

• Commission Fees:

• Standard: None

• ECN: $5 per lot

• Pro: $10 per lot

• Islamic: None

• Demo: N/A

• Lot Size:

• Standard: Micro (0.01), Mini (0.1), Standard (1.0)

• ECN: Micro (0.01), Mini (0.1), Standard (1.0)

• Pro: Micro (0.01), Mini (0.1), Standard (1.0)

• Islamic: Micro (0.01), Mini (0.1), Standard (1.0)

• Demo: Micro (0.01), Mini (0.1), Standard (1.0)

• Available Trading Platforms:

• Standard: MT4, MT5

• ECN: MT4, MT5

• Pro: MT4, MT5, proprietary platform

• Islamic: MT4, MT5

• Demo: MT4, MT5

• Execution Type:

• Standard: Market

• ECN: ECN

• Pro: ECN

• Islamic: Market

• Demo: Market

• Islamic Account Availability:

• Available for Islamic account type only.

• Swap-Free Options:

• Available for Islamic account type only.

• Demo Account Features:

• Virtual balance of $100,000 for practice trading.

Advantages and Disadvantages of Each Account Type

Standard Account

• Advantages:
• Low minimum deposit
• No commission fees
• Fixed spreads
• User-friendly for beginners
• Disadvantages:
• Higher spreads compared to ECN and Pro accounts

ECN Account

• Advantages:
• Lower spreads
• Direct market access
• Suitable for scalping
• Advanced trading tools
• Disadvantages:
• Higher minimum deposit
• Commission fees apply

Pro Account

• Advantages:
• Lowest spreads
• Priority execution
• Advanced trading features
• Suitable for institutional traders
• Disadvantages:
• High minimum deposit
• Higher commission fees

Islamic Account

• Advantages:
• Compliant with Sharia law
• No swap fees
• Fixed spreads
• Disadvantages:
• Limited to Muslim traders

Demo Account

• Advantages:
• Free to use
• Practice without risk
• Access to all trading instruments
• Disadvantages:
• Limited to virtual trading only

Part 3: truefriend Account Opening Requirements

truefriend Account Registration Requirements

To open a truefriend account, the following eligibility criteria must be met:

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Not available in certain countries (specific countries not listed).
• Prohibited Countries: Specific countries may be restricted (not listed).
• Identity Verification Documents Needed:
• Government-issued ID (passport or driver's license)
• Social Security Number (for U.S. residents)
• Proof of Residence Requirements:
• Utility bill or bank statement (dated within the last three months)
• Additional Documentation for Professional Accounts: May require proof of trading experience or financial statements.

KYC/AML Compliance Procedures

• truefriend adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring all users to verify their identity and residence.

Verification Time Frames

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

Part 4: truefriend Account Opening Process

Step-by-Step truefriend Account Opening Guide

1. Visit the Website: Go to the truefriend website.
2. Click Registration: Click on the "Open Account" or "Register" 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: Indicate your trading preferences (leverage, trading instruments).
6. Document Upload: Upload the required identity verification documents.
7. Account Verification: Wait for the account to be verified by truefriend.
8. Fund Your Account: Deposit funds into your 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, but 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 (JPEG, PDF).
• Issue: Account 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

• Users can request to upgrade or downgrade their account type through the customer support portal after logging into their account.

Part 5: truefriend Demo Account Information

truefriend Demo Account Guide

• Demo Account Features and Benefits:

• Practice trading with a virtual balance of $100,000.

• Access to all trading instruments available in live accounts.

• No risk of losing real money.

• How to Open a Demo Account:

• Visit the truefriend website and select "Open Demo Account."

• Fill in the required personal information.

• Start trading with the virtual balance.

• Demo Account Limitations:

• Limited to virtual trading only.

• May have a time limit (e.g., 30 days).

• Virtual Balance Amount:

• $100,000 for practice trading.

• Demo vs Live Account Differences:

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

• Demo accounts may not reflect real market conditions.

• Duration/Expiry of Demo Accounts:

• Demo accounts typically expire after 30 days of inactivity.

Part 6: truefriend Islamic Account Details

truefriend Islamic Account Details

• Swap-Free/Islamic Account Availability:

• truefriend offers an Islamic account that is swap-free and compliant with Sharia law.

• Eligibility Requirements:

• Must be a Muslim trader.

• Differences from Standard Accounts:

• No swap fees applied.

• Fixed spreads.

• How to Apply for Islamic Account:

• Select the Islamic account option during the registration process.

• Restrictions or Special Conditions:

• Must adhere to Islamic finance principles.

FAQs – truefriend Account Types & Opening

1. What account types does truefriend offer？

• truefriend 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: $500, Demo: Free.

1. How long does truefriend account verification take？

• Account verification typically takes 1-3 business days.

1. Does truefriend offer demo accounts？

• Yes, truefriend offers a demo account for practice trading.

1. Can I have multiple account types with truefriend？

• Yes, users can have multiple account types.

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

• Yes, truefriend offers an Islamic account that is swap-free.

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

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

1. Can I change my account type after registration？

• Yes, users can request to upgrade or downgrade their account type through customer support.