WPS Account Type

　　WPS offers various types of trading accounts designed to cater to different levels of experience and investment goals. The main account types include:

• Standard Accounts:
• Lot Size: Each standard lot is worth $100,000.
• Leverage: Typically 100:1, meaning you only need $1,000 in your margin account to trade one standard lot.
• Pros: More services and perks for investors, potential for significant gains (e.g., $1,000 gain on a 100-pip move).
• Cons: Higher capital requirements (minimum balance often between $2,000 and $10,000) and higher loss potential.
• Mini Accounts:
• Lot Size: Each mini lot is worth $10,000.
• Leverage: Can go up to 400:1.
• Pros: Lower risk and capital requirement (can open with $250 to $500), flexibility for inexperienced traders.
• Cons: Lower reward potential ($1 per pip compared to $10 in standard accounts).
• Managed Accounts:
• Description: Capital is yours, but trading decisions are made by professional account managers.
• Types:
• Pooled Funds: Combine money with other investors, profits shared based on risk profile.
• Individual Accounts: Managed separately for each investor.
• Pros: Professional guidance and diversification without constant market monitoring.
• Cons: Higher minimum investments ($2,000 for pooled accounts, $10,000 for individual accounts) and management fees.

　　

WPS Broker Account Opening Process

　　To open a trading account with WPS, follow these steps:

• 　　Choose Account Type: Decide which account type (Standard, Mini, or Managed) suits your trading style and capital availability.

• 　　Prepare Documentation: Gather necessary documents, including:

• A valid ID (Qatar ID or passport).
• Proof of residence in Qatar.
• Any additional documents required based on the account type selected.

• 　　Complete Application: Fill out the account opening application through the WPS online portal. Ensure all details are accurate and in capital letters.

• 　　Submit Documents: Attach all required documents with the application form, ensuring they are stamped by the company if applicable.

• 　　Track Application: After submission, you can track the status of your application via the WPS online portal using your application reference number or personal details.

• 　　Approval and Funding: Once approved, fund your account as per the requirements of the selected account type. You may need to link your bank account for electronic transfers.

• 　　Start Trading: After your account is funded, you can begin trading according to the guidelines and features of your chosen account type.

　　For more detailed information, visit the WPS Account Opening Procedures.