WDA broker Accounts

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

wda Account Types Explained

The WDA offers several account types tailored to different trading needs and experience levels. Below is a detailed overview of each account type, including their features, requirements, and target user profiles.

1. Standard Account

• Minimum Deposit Requirement: $100
• Spread/Commission Structure: Variable spreads starting from 1.0 pips; no commission.
• Leverage Options: Up to 1:500.
• Key Features: User-friendly interface, access to basic trading tools.
• Target User Profile: Beginners and casual traders.
• Trading Instruments Available: Forex, commodities, indices.

2. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Raw spreads from 0.0 pips; commission of $3 per lot.
• Leverage Options: Up to 1:200.
• Key Features: Direct market access, lower spreads, faster execution.
• Target User Profile: Advanced traders and scalpers.
• Trading Instruments Available: Forex, commodities, cryptocurrencies.

3. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Spreads from 0.5 pips; commission of $2 per lot.
• Leverage Options: Up to 1:100.
• Key Features: Advanced trading tools, priority support.
• Target User Profile: Professional traders and institutions.
• Trading Instruments Available: Forex, commodities, indices, stocks.

4. Islamic Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Similar to the Standard or ECN accounts but swap-free.
• Leverage Options: Up to 1:200.
• Key Features: Complies with Sharia law, no swap fees.
• Target User Profile: Muslim traders seeking compliant trading options.
• Trading Instruments Available: Forex, commodities, indices.

5. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds).
• Spread/Commission Structure: Simulated spreads; no commission.
• Leverage Options: Up to 1:500.
• Key Features: Risk-free trading environment, practice tools.
• 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
• Intermediate: ECN Account
• Advanced: Pro Account
• Muslim Traders: Islamic Account
• Testing Strategies: Demo Account

Detailed wda Account Features

Feature Comparison Across Different Account Types

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $500

• Demo: N/A

• Maximum Leverage:

• Standard: Up to 1:500

• ECN: Up to 1:200

• Pro: Up to 1:100

• Islamic: Up to 1:200

• Demo: Up to 1:500

• Spreads (Typical/Minimum):

• Standard: From 1.0 pips

• ECN: From 0.0 pips

• Pro: From 0.5 pips

• Islamic: Similar to Standard/ECN

• Commission Fees:

• Standard: None

• ECN: $3 per lot

• Pro: $2 per lot

• Islamic: None

• Lot Size:

• Standard: Micro, Mini, Standard

• ECN: Micro, Mini, Standard

• Pro: 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: No

• ECN: No

• Pro: No

• Islamic: Yes

• Demo: No

• Swap-Free Options:

• Standard: No

• ECN: No

• Pro: No

• Islamic: Yes

• Demo: No

• Demo Account Features:

• Virtual funds for practice, risk-free environment.

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit.

• User-friendly interface.

• No commission fees.

• ECN Account:

• Direct market access.

• Lower spreads.

• Faster execution.

• Pro Account:

• Advanced trading tools.

• Priority customer support.

• Competitive commission rates.

• Islamic Account:

• Complies with Sharia law.

• No swap fees.

• Available for various trading instruments.

• Demo Account:

• Risk-free trading.

• Practice without financial commitment.

• Access to all trading instruments.

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN.

• Limited advanced features.

• ECN Account:

• Higher minimum deposit.

• Commission fees apply.

• Pro Account:

• Higher minimum deposit.

• Commission fees apply.

• Islamic Account:

• Limited availability for non-Muslim traders.

• Similar features to Standard/ECN.

• Demo Account:

• No real financial gains.

• Limited to virtual trading.

wda Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available in most countries, but specific restrictions may apply based on local regulations.
• Prohibited Countries: Not available in countries under international sanctions or restrictions.

Identity Verification Documents Needed

• Government-issued ID (passport, national ID).
• Proof of residence (utility bill, bank statement).
• Additional documentation for professional accounts may include business registration documents.

KYC/AML Compliance Procedures

• All applicants must complete Know Your Customer (KYC) and Anti-Money Laundering (AML) checks.
• Verification may include identity checks and source of funds verification.

Verification Time Frames

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

Step-by-Step wda Account Opening Guide

Detailed Registration Process

1. Visit Website and Click Registration: Go to the WDA website and find the registration link.
2. Personal Information Entry: Fill in your personal details, including name, email, and phone number.
3. Choose Account Type: Select the account type that suits your trading needs.
4. Set Trading Preferences: Indicate your trading preferences and risk tolerance.
5. Document Upload: Upload the required identity verification documents.
6. Account Verification: Wait for the verification process to be completed.
7. Fund Your Account: Deposit the minimum required amount to activate your account.
8. Start Trading: Once your account is funded, you can begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, but mobile users may find a simplified interface.

Common Registration Issues and Solutions

• Issue: Document upload fails.
• Solution: Ensure documents are in the correct format and within size limits.
• Issue: Verification delays.
• Solution: Contact customer support for assistance.

Average Account Approval Time

• Typically ranges from 1 to 3 business days, depending on the completeness of the application.

How to Upgrade/Downgrade Account Types

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

wda Demo Account Guide

Demo Account Features and Benefits

• Provides a risk-free environment to practice trading strategies.
• Access to all trading instruments available in live accounts.

How to Open a Demo Account

• Visit the WDA website and select the demo account option.
• Fill in the required information and create your demo account.

Demo Account Limitations

• Limited to virtual funds; no real financial gains can be made.
• Typically expires after a set period (usually 30-90 days).

Virtual Balance Amount

• The virtual balance is usually set at $10,000 or similar, depending on the broker's offering.

Demo vs Live Account Differences

• Demo accounts use virtual funds, while live accounts involve real money.
• Live accounts may have different spreads and commissions compared to demo accounts.

Duration/Expiry of Demo Accounts

• Demo accounts generally expire after 30-90 days of inactivity.

wda Islamic Account Details

Swap-Free/Islamic Account Availability

• WDA offers Islamic accounts that comply with Sharia law, allowing traders to operate without incurring swap fees.

Eligibility Requirements

• Must be a Muslim trader seeking a compliant trading option.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees and have similar features to standard accounts.

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 conditions regarding trading instruments and leverage.

FAQs – wda Account Types & Opening

1. What account types does wda offer？

• WDA 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: N/A.

1. How long does wda account verification take？

• Verification typically takes 1-3 business days.

1. Does wda offer demo accounts？

• Yes, WDA offers demo accounts for practice trading.

1. Can I have multiple account types with wda？

• Yes, you can open multiple account types as needed.

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

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

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

• A government-issued 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 your account settings.