How to Open a Live Commodity Trading Best Commodity Trading Account
Commodities Trading Procedure
To open a Live Commodity Trading Account you can go to an online commodities broker site and open one. Once you navigate to the broker of your choice & choose this option, you'll then have to fill some online forms, the commodity trading step by step process of filling these forms is described in this article.
With this online trading account you can trade the following: Commodity Trading, Commodity Trading, Silver, Oil, CFDs, Futures and Stock Indices.
Commodity Tutorial of How to Open an Commodities Trading Account
To open this live commodities trading account, a trader has to fill some online forms provided by a commodities trading broker. The account opening online form can be obtained from your online commodities trading broker.
The process of opening a real commodities account is one where your commodities broker will also need you upload the following required supporting documents:
What Documents Are Required To Open An Online Commodity Trading Account?
1. Proof of ID - Color copy of ID card or Passport - A color copy of valid passport or other official identification document that's issued by authorities (e.g. Driver's license, identity card, etc). The identification document must have client's full name, an issue or expiry date, client's place & date of birth or tax identification number and client's signature.
2. Proof of Residence Location - Color copy of utility bill - A recent utility bill (example. Electricity, water, gas, Internet or cable TV connection, phone, oil, bank account statement) dated within the last Six months and confirming your signed up address.
You can use your mobile phone to take the photos of these documents and then upload them directly from your mobile phone(this is best option when signing up a commodities trading account). Alternatively, use a digital camera, upload the pictures to your PC desktop computer & then upload these saved documents on to your account
To Find where to upload these required accompanying documents search for the option 'Upload Documents'. Please note that after opening your commodity trading account it won't get to be validated until you've completed uploading these supporting document copies.
Why is a Copy of ID & Utility Bill Document with My Name On It Required?
These documents are required by your commodities broker to safeguard against money laundering. AML, or Anti Money Laundering Regulations require that every online broker requests for proof of ID & Residence which has your name so that to verify & certify that you're a citizen resident of the country that you claim that you come from as well as a Copy of a Utility Bill copy that confirms your details of exact location where you reside, this way you cannot create a fake identity or fake residence to use for money laundering.
All regulated commodities brokers must adhere with this requirement prior to opening a commodities account for a new trader client.
Now once you have scanned or taken pictures of these commodity trading account opening forms:
2.Proof of ID - Color copy of ID card or Passport Document
3. Proof of Residence Details - Color copy of utility bill, electricity bill etc. (bill with recent date, dated within the last six months).
Upload the above forms plus above document color copies, you can use your camera phone to take the color pictures of the above documents, then download the pictures from your mobile phone to your Desktop computer PC and then upload these pictures from your computer.
Once your online commodity broker receives the online commodity trading account opening sign up forms plus above documents, your application will be processed & you'll be given login account number and a login password for live commodities trading account.
Once you upload these required accompanying documents your account will then get validated. Your login details will be sent to your email address. Example of a verified account is illustrated and shown below:
This is KYC - Know Your Client, it is more of a legal requirement than a mere formality, your commodity broker must follow this policy & try to do everything to know who their client is, so as to guard against money laundering activities.
You can then use your details to log into your MT4 platform and begin trading on this validated account. You can also use the same login details to log in to your trader cabinet on the broker website. On the trader cabinet you can deposit money, withdraw money & view trading reports of your commodities trading broker account.
Commodities Trading Procedure of How to Open an Online Commodity Trading Account
To open this commodities trading account, a trader has to fill some online forms provided by a commodities trading broker. The account opening online form can be obtained from your online commodity broker.
The process of opening a real commodities account is one where your commodities broker will also need you upload the following required supporting documents:
What Documents Are Required To Open An Online Commodities Trading Account?
1. Proof of ID - Color copy of ID card or Passport - A color copy of valid passport or other official identification document that's issued by authorities (e.g. Driver's license, identity card, etc). The identification document must have client's full name, an issue or expiry date, client's place & date of birth or tax identification number and client's signature.
2. Proof of Residence Location - Color copy of utility bill - A recent utility bill (example. Electricity, water, gas, Internet or cable TV connection, phone, oil, bank account statement) dated within the last Six months and confirming your signed up address.
You can use your mobile phone to take the photos of these documents and then upload them directly from your mobile phone(this is best option when signing up a commodities trading account). Alternatively, use a digital camera, upload the pictures to your PC desktop computer & then upload these saved documents on to your account
To Find where to upload these required accompanying documents search for the option 'Upload Documents'. Please note that after opening your commodity trading account it won't get to be verified until you have completed uploading these supporting document copies.
Please note if you do not upload above documents your account won't be validated - Make sure you upload above documents to get your account verified. More than 50% of all new traders do not succeed in opening their commodity trading account because they fail to upload required supporting documents. If you correctly upload all the required documents then your account will be verified & you can start trading with your trading account within five minutes. Take a color photo of these two documents with your smart-phone and upload these docs direct to your commodities broker site using your mobile phone browser.
Where To Upload Documents on The Commodity Trading Account
Once you have filled & Submitted account opening form that your commodities broker will have provided you with, you will get access to the client cabinet: This will then now be your commodities trading account.
The 'Upload Documents' Button can then be accessed from within this trader cabinet & as a trader you can upload your documents using this button key.
Once you complete uploading correct documents on the 'Account Verification' on your trading account will reflect as Validated & you can then start trading on this commodities trading account.
This process might seem simple but more than 50% of all new beginners don't succeed in opening their commodity account due to failure to upload required accompanying documents.
Why are Copies of My ID & Utility Bill Document with My Name On It Required?
These documents are required by your commodities broker to safeguard against money laundering. AML, or Anti Money Laundering Regulations require that every online broker requests for proof of ID & Residence which has your name so that to verify & certify that you're a citizen resident of the country that you claim that you come from as well as a Copy of a Utility Bill copy that confirms your details of exact location where you reside, this way you cannot create a fake identity or fake residence to use for money laundering.
All regulated commodities brokers must adhere with this requirement prior to opening a commodities account for a new trader client.
Once your online commodity broker receives these online account opening sign up forms plus above documents, your application will be processed and you'll be given a login account number & password for live commodities trading account.
Once your uploaded documents are approved by your commodity broker - your account will then get verified. Your login details will be sent to your email address. Example of a verified account is illustrated and shown below:
This is KYC - Know Your Client, it is more of a legal requirement than a mere formality, your commodity broker must follow this policy & try to do everything to know who their client is, so as to guard against money laundering activities.
You can then use your details to log into your MT4 platform and begin trading on this validated account. You can also use the same login details to log in to your trader cabinet on the broker website. On the trader cabinet you can deposit money, withdraw money & view trading reports of your commodities trading broker account.
Commodities Traders Cabinet Members Area for Making Commodities Account Deposit & Withdraw Request
Withdraw and deposit options provided from within the traders cabinet area where traders can deposit and make withdraws from the various options provided, for examples: Credit Card & Debit Card, Neteller, Skrill, WebMoney, Bank Wire Transfer, MoneyGram & Western Union money transfer methods as illustrated below.
