WAYSHINE broker Accounts

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

Part 1: wayshine Account Types Overview

wayshine Account Types Explained

wayshine offers several account types tailored to meet the needs of different traders. Heres a detailed overview of each account type:

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: User-friendly interface, suitable for beginners
• Target User Profile: Beginners and retail 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, ideal for high-frequency trading
• Target User Profile: Advanced traders and scalpers
• 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: Tailored for professional traders, advanced tools and analytics
• Target User Profile: Institutional traders and professionals
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies

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: Compliant with Sharia law, no interest charges
• Target User Profile: Muslim traders
• Trading Instruments Available: Forex, commodities, indices

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 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: ECN Account
• Advanced: Pro Account
• Muslim Traders: Islamic Account
• Testing Strategies: Demo Account

Part 2: wayshine Account Features Comparison

Detailed wayshine Account Features

When comparing the features of different wayshine account types, the following aspects are crucial:

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $100

• Demo: N/A

• Maximum Leverage:

• Standard: 1:500

• ECN: 1:200

• Pro: 1:100

• Islamic: 1:500

• Demo: 1:500

• Spreads:

• Standard: From 1.5 pips

• ECN: From 0.1 pips

• Pro: From 0.0 pips

• Islamic: Similar to Standard

• Demo: Same as Standard

• Commission Fees:

• Standard: None

• ECN: $5 per lot

• Pro: $3 per lot

• Islamic: None

• Demo: None

• Lot Size:

• Standard: Micro, Mini, Standard

• ECN: Micro, Mini, Standard

• Pro: Micro, Mini, Standard

• Islamic: Micro, Mini, Standard

• Demo: Micro, Mini, Standard

• Available Trading Platforms:

• Standard: MT4, MT5

• ECN: MT4, MT5

• Pro: MT4, MT5

• Islamic: MT4, MT5

• Demo: MT4, MT5

• Execution Type:

• Standard: Market

• ECN: ECN

• Pro: Market

• Islamic: Market

• Demo: Market

• Islamic Account Availability:

• Standard: Yes

• ECN: Yes

• Pro: Yes

• Islamic: Yes

• Demo: No

• Swap-Free Options:

• Standard: Yes

• ECN: Yes

• Pro: Yes

• Islamic: Yes

• Demo: No

• Demo Account Features:

• Virtual balance of $100,000

• Access to all trading instruments

• Duration: 30 days

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit

• No commissions

• User-friendly for beginners

• Access to a wide range of instruments

• ECN Account:

• Tight spreads

• Direct market access

• Suitable for high-frequency trading

• Advanced trading tools

• Pro Account:

• Lowest spreads

• Tailored for professional traders

• Advanced analytics and tools

• High liquidity

• Islamic Account:

• Compliant with Sharia law

• No swap fees

• Similar features to Standard Account

• Accessible to Muslim traders

• Demo Account:

• Risk-free trading environment

• Practice with virtual funds

• Access to all features

• Ideal for testing strategies

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN/Pro

• Limited advanced features

• ECN Account:

• Higher minimum deposit

• Commission fees apply

• Pro Account:

• Highest minimum deposit

• Commission fees apply

• Islamic Account:

• Limited to Muslim traders

• Similar to Standard but no swap fees

• Demo Account:

• Limited duration

• No real trading experience

Part 3: wayshine Account Opening Requirements

wayshine Account Registration Requirements

To open a wayshine account, the following eligibility criteria and documentation are required:

• Eligibility Criteria:

• Age Requirements: Must be at least 18 years old

• Geographic Restrictions: Available in most countries, but specific restrictions may apply

• Prohibited Countries: Countries under sanctions or restrictions (specific countries not listed)

• Identity Verification Documents Needed:

• Government-issued ID (passport or national ID)

• Proof of address (utility bill or bank statement)

• Proof of Residence Requirements:

• Recent documents showing your name and address

• Additional Documentation for Professional Accounts:

• Proof of trading experience or qualifications

• KYC/AML Compliance Procedures:

• Completion of Know Your Customer (KYC) forms

• Anti-Money Laundering (AML) verification

• Verification Time Frames:

• Typically takes 1-3 business days for account verification

Part 4: wayshine Account Opening Process

Step-by-Step wayshine Account Opening Guide

To register for a wayshine account, follow these steps:

1. Visit the Website: Go to the official wayshine website.
2. Click Registration: Click on the "Register" button on the homepage.
3. Personal Information Entry: Fill in your personal details, including name, email, and phone number.
4. Choose Account Type: Select the desired account type (Standard, ECN, Pro, Islamic, or Demo).
5. Set Trading Preferences: Specify your trading preferences, including leverage and trading instruments.
6. Document Upload: Upload the required identity verification documents.
7. Account Verification: Wait for the verification process to complete.
8. Fund Your Account: Deposit the minimum required amount to start trading.
9. Start Trading: Access your account and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, with a responsive design for ease of use on mobile devices.

Common Registration Issues and Solutions

• Issue: Document upload fails.

• Solution: Ensure documents are clear and in the correct format (JPEG, PDF).

• Issue: Verification takes longer than expected.

• Solution: Contact customer support for assistance.

Average Account Approval Time

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

How to Upgrade/Downgrade Account Types

• To change account types, contact customer support to request an upgrade or downgrade, providing any necessary documentation.

Part 5: wayshine Demo Account Information

wayshine Demo Account Guide

• Demo Account Features and Benefits:

• Allows traders to practice without financial risk

• Access to all trading instruments

• Ideal for testing strategies and familiarizing with the platform

• How to Open a Demo Account:

• Follow the same registration process as for live accounts, selecting "Demo Account" during account type selection.

• Demo Account Limitations:

• Limited duration of 30 days

• Virtual funds only, no real trading experience

• Virtual Balance Amount:

• Typically $100,000 in virtual funds

• Demo vs Live Account Differences:

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

• Duration/Expiry of Demo Accounts:

• Demo accounts expire after 30 days unless extended by customer support.

Part 6: wayshine Islamic Account Details

wayshine Islamic Account Details

• Swap-Free/Islamic Account Availability:

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

• Eligibility Requirements:

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

• Differences from Standard Accounts:

• Islamic accounts do not incur swap fees, while standard accounts may have swap charges.

• 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 must adhere to Sharia principles, and any trading strategies must comply with these guidelines.

FAQs – wayshine Account Types & Opening

1. What account types does wayshine offer？

• wayshine 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 wayshine account verification take？

• Account verification typically takes 1-3 business days.

1. Does wayshine offer demo accounts？

• Yes, wayshine offers demo accounts for practice trading.

1. Can I have multiple account types with wayshine？

• Yes, traders can have multiple account types, but they must be managed separately.

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

• Yes, wayshine offers Islamic accounts that are compliant with Sharia law.

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

• You need a government-issued ID and proof of address.

1. Can I change my account type after registration？

• Yes, you can request to change your account type through customer support.