WSI broker Accounts

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

wsi Account Types Explained

WSI offers various account types tailored to meet the needs of different traders. Below is a comprehensive overview of each account type available in 2025.

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: Basic trading tools, access to educational resources.
• Target User Profile: Beginners and casual traders.
• Trading Instruments Available: Forex, commodities, indices.

2. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Low spreads from 0.1 pips; commission of $3 per lot.
• Leverage Options: Up to 1:200.
• Key Features: Direct market access, faster execution speeds.
• 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 1:300.
• Key Features: Advanced trading tools, dedicated account manager.
• Target User Profile: Professional traders and institutions.
• Trading Instruments Available: Forex, commodities, indices, cryptocurrencies.

4. 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 seeking compliant trading options.
• Trading Instruments Available: Forex, commodities.

5. Demo Account

• Minimum Deposit Requirement: N/A (virtual funds).
• Spread/Commission Structure: Similar to Standard Account.
• Leverage Options: Up to 1:500.
• Key Features: Practice trading with virtual funds, access to educational resources.
• Target User Profile: Beginners and traders looking to test 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 wsi Account Features

Comparison of Features Across Different Account Types

Advantages of Each Account Type

• Standard Account:

• Low minimum deposit.

• No commission fees.

• Suitable for beginners.

• ECN Account:

• Tight spreads and fast execution.

• Ideal for scalping strategies.

• Direct access to the market.

• Pro Account:

• Advanced trading tools and support.

• Lower commission fees for high-volume traders.

• Suitable for professional traders.

• Islamic Account:

• Complies with Sharia law.

• No swap fees on overnight positions.

• Available for all trading instruments.

• Demo Account:

• Risk-free trading environment.

• Opportunity to practice strategies.

• Access to all trading instruments.

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN accounts.

• Limited advanced features.

• ECN Account:

• Higher minimum deposit required.

• Commission fees can add up for frequent traders.

• Pro Account:

• Requires a significant initial investment.

• May not be suitable for casual traders.

• Islamic Account:

• Limited availability of advanced features.

• Not suitable for all trading strategies.

• Demo Account:

• No real financial gain.

• Limited to virtual trading experience.

wsi Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents in most countries; specific restrictions may apply.
• Prohibited Countries: Countries under international sanctions or restrictions may not be eligible.
• Identity Verification Documents Needed:
• Government-issued ID (passport or drivers license).
• Proof of address (utility bill or bank statement).
• Proof of Residence Requirements: Recent documents showing your name and address.
• Additional Documentation for Professional Accounts: May require financial statements or proof of trading experience.

KYC/AML Compliance Procedures

• WSI adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. All accounts must undergo verification to ensure compliance.

Verification Time Frames

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

Step-by-Step wsi Account Opening Guide

Detailed Registration Process

1. Visit Website and Click Registration: Go to the WSI official website and click on the "Open Account" button.
2. Personal Information Entry: Fill in your personal details including name, email, and phone number.
3. Choose Account Type: Select the account type that best 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 WSI to verify your documents.
7. Fund Your Account: Once verified, deposit funds into your account.
8. Start Trading: Access your trading platform and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, but mobile users may have a more streamlined experience.

Common Registration Issues and Solutions

• Issue: Document upload fails.

• Solution: Ensure documents are in the correct format and size.

• Issue: Verification takes longer than expected.

• Solution: Contact customer support for updates.

Average Account Approval Time

• Generally, account approval takes between 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.

wsi Demo Account Guide

Demo Account Features and Benefits

• Features: Access to all trading instruments, virtual funds for practice, and educational resources.
• Benefits: Allows traders to practice without financial risk and test strategies.

How to Open a Demo Account

• Visit the WSI website, select "Open Demo Account," and fill in the required information.

Demo Account Limitations

• Limited to virtual trading; no real financial gains can be made.

Virtual Balance Amount

• Typically, demo accounts are funded with a virtual balance of $10,000 or more.

Demo vs Live Account Differences

• Demo accounts use virtual funds, while live accounts involve real money and actual trading conditions.

Duration/Expiry of Demo Accounts

• Demo accounts usually remain active for 30 days but can be extended upon request.

wsi Islamic Account Details

Swap-Free/Islamic Account Availability

• WSI offers Islamic accounts that comply with Sharia law, allowing trading without interest on overnight positions.

Eligibility Requirements

• Must meet the standard account registration requirements and indicate the need for an Islamic account.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, making them suitable for Muslim traders.

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 trading conditions, such as restrictions on certain instruments.

FAQs – wsi Account Types & Opening

1. What account types does wsi offer？

• WSI 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 wsi account verification take？

• Verification typically takes 1-3 business days.

1. Does wsi offer demo accounts？

• Yes, WSI offers demo accounts for practice trading.

1. Can I have multiple account types with wsi？

• Yes, traders can open multiple account types.

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

• Yes, WSI provides Islamic accounts that comply with Sharia law.

1. What documents do I need to open a wsi 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 customer support.