XinCheng broker Accounts

xincheng Account Types Explained

Available Account Types

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, suitable for beginners.
• Target User Profile: Beginners and casual traders.
• Trading Instruments Available: Forex pairs, commodities, indices.

1. ECN Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Spreads from 0.1 pips; commission of $3 per lot.
• Leverage Options: Up to 1:200.
• Key Features: Direct market access, lower spreads, and faster execution.
• Target User Profile: Advanced traders and scalpers.
• Trading Instruments Available: Forex pairs, commodities, cryptocurrencies.

1. Pro Account

• Minimum Deposit Requirement: $1,000
• Spread/Commission Structure: Fixed spreads starting from 0.5 pips; commission of $2 per lot.
• Leverage Options: Up to 1:300.
• Key Features: Advanced trading tools, priority customer support.
• Target User Profile: Professional traders and institutions.
• Trading Instruments Available: Forex pairs, commodities, indices, and stocks.

1. Islamic Account

• Minimum Deposit Requirement: $500
• Spread/Commission Structure: Similar to Standard or ECN accounts, but without swap fees.
• Leverage Options: Up to 1:500.
• Key Features: Compliant with Sharia law, swap-free.
• Target User Profile: Muslim traders.
• Trading Instruments Available: Forex pairs, commodities, indices.

1. Demo Account

• Minimum Deposit Requirement: Virtual funds (typically $10,000).
• Spread/Commission Structure: Same as Standard account.
• Leverage Options: Same as Standard account.
• Key Features: Practice trading without risk, access to all trading instruments.
• Target User Profile: Beginners wanting to practice.
• Trading Instruments Available: All instruments available in live accounts.

Account Type Comparison Table

Recommended Account Types by Trader Level

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

Detailed xincheng Account Features

Features Comparison Across Different Account Types

• Minimum Deposit:

• Standard: $100

• ECN: $500

• Pro: $1,000

• Islamic: $500

• Demo: Virtual funds

• Maximum Leverage:

• Standard: 1:500

• ECN: 1:200

• Pro: 1:300

• Islamic: 1:500

• Spreads (Typical/Minimum):

• Standard: 1.0 pips

• ECN: 0.1 pips

• Pro: 0.5 pips

• Islamic: Variable

• Commission Fees:

• Standard: None

• ECN: $3 per lot

• Pro: $2 per lot

• Islamic: None

• Lot Size:

• Standard: Micro (0.01)

• ECN: Mini (0.1) and Standard (1.0)

• Pro: Mini (0.1) and Standard (1.0)

• Islamic: Mini (0.1) and Standard (1.0)

• Demo: Micro (0.01)

• 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: Yes for Islamic Account only.

• Swap-Free Options: Available for Islamic Account.

• Demo Account Features: Unlimited access to trading instruments, practice without risk.

Advantages of Each Account Type

• Standard Account:

• User-friendly for beginners.

• No commission fees.

• High leverage options.

• ECN Account:

• Tight spreads for scalping.

• Direct market access.

• Faster execution speeds.

• Pro Account:

• Lower commission fees.

• Advanced trading tools.

• Priority customer support.

• Islamic Account:

• Compliant with Sharia law.

• No swap fees.

• Same features as Standard or ECN accounts.

• Demo Account:

• Risk-free trading environment.

• Access to all trading instruments.

• Ideal for practice and strategy testing.

Disadvantages of Each Account Type

• Standard Account:

• Higher spreads compared to ECN.

• Limited advanced features.

• ECN Account:

• Requires higher minimum deposit.

• Commission fees may reduce profitability.

• Pro Account:

• Higher minimum deposit requirement.

• Complexity may overwhelm beginners.

• Islamic Account:

• Limited availability for non-Muslim traders.

• May have restrictions on certain trading strategies.

• Demo Account:

• No real money involved.

• Limited duration for practice.

xincheng Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to most countries; specific restrictions may apply.
• Prohibited Countries: Countries under international sanctions may be restricted.
• Identity Verification Documents Needed: Valid government-issued ID (passport or national ID).
• Proof of Residence Requirements: Utility bill or bank statement with your name and address.
• Additional Documentation for Professional Accounts: Business registration documents, tax identification number.

KYC/AML Compliance Procedures

• All applicants must undergo Know Your Customer (KYC) and Anti-Money Laundering (AML) checks.
• Verification of identity and address is mandatory.

Verification Time Frames

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

Step-by-Step xincheng Account Opening Guide

Registration Process

1. Visit Website and Click Registration: Go to the xincheng website and click on the registration button.
2. Personal Information Entry: Fill in personal details such as name, email, and phone number.
3. Choose Account Type: Select the desired account type from the available options.
4. Set Trading Preferences: Specify trading preferences, including leverage and trading instruments.
5. Document Upload: Upload required identity verification documents.
6. Account Verification: Wait for the account to be verified by the xincheng team.
7. Fund Your Account: Deposit funds into your account using preferred payment methods.
8. Start Trading: Once funded, you can start trading on the platform.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, but mobile may have additional verification steps via SMS.

Common Registration Issues and Solutions

• Issue: Document rejection due to poor quality.
• Solution: Ensure all documents are clear and legible before uploading.
• Issue: Delays in verification.
• Solution: Contact customer support for updates.

Average Account Approval Time

• Typically, account approval takes between 1-3 business days.

How to Upgrade/Downgrade Account Types

• Users can request an upgrade or downgrade through the account management section on the website, subject to the minimum deposit requirements of the desired account type.

xincheng Demo Account Guide

Demo Account Features and Benefits

• Offers a risk-free environment to practice trading.
• Access to all trading instruments available in live accounts.
• Ideal for testing strategies and familiarizing with the trading platform.

How to Open a Demo Account

• Visit the xincheng website and select the demo account option.
• Fill in the required information and create an account.

Demo Account Limitations

• Limited duration for use (typically 30 days).
• Virtual funds may not reflect real market conditions.

Virtual Balance Amount

• Typically, demo accounts come with a virtual balance of $10,000.

Demo vs Live Account Differences

• Demo accounts use virtual funds; live accounts involve real money.
• Live accounts may incur spreads and commissions, while demo accounts do not.

Duration/Expiry of Demo Accounts

• Demo accounts usually expire after 30 days of inactivity.

xincheng Islamic Account Details

Swap-Free/Islamic Account Availability

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

Eligibility Requirements

• Must be a practicing Muslim to qualify for an Islamic account.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, making them compliant with Islamic finance principles.

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 limitations on certain trading strategies.

FAQs – xincheng Account Types & Opening

1. What account types does xincheng offer？

• xincheng 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: Virtual funds.

1. How long does xincheng account verification take？

• Verification typically takes 1-3 business days.

1. Does xincheng offer demo accounts？

• Yes, xincheng provides demo accounts for practice trading.

1. Can I have multiple account types with xincheng？

• Yes, users can open multiple accounts as long as they meet the minimum deposit requirements.

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

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

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

• A valid 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 the account management section.