Open a Live Commodities Trading Account
The commodity trading step by step procedure of how to open a live commodity trading account:
Commodity Tutorial
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 & select 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 tutorial.
With this online commodities trading account you can trade the following: Commodity Trading, Commodity Trading, Silver, Oil, CFDs, Futures and Stock Indices.
Commodities Trading Tutorial of How to Open an Commodity Trading Account
To open this live commodities trading account, a trader has to fill some online forms provided by a commodities trading broker. The commodity trading sign up account opening online form can be obtained from your online commodities trading broker.
Process of opening a real commodities account is one where your commodities broker will also require you to upload the following 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 is issued by authorities (e.g. Driver's license, identity card, etc). The identification document must contain the client's full name, an issue or expiry date, the client's place & date of birth or tax identification number and the client's signature.
2. Proof of Residence Location - Color copy of a utility bill - A recent utility bill (e.g. Electricity, water, gas, Internet or cable TV connection, phone, oil, bank account statement) dated within the last Six months and validating your registered address.
You can use your phone to take the photos of these documents and then upload them directly from your phone(this is best option when registering 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 after opening your commodity trading account it'll not get to be verified until you have completed uploading these supporting document copies.
Why is a Copy of My Identity Card & a Copy of Utility Bill with My Name Required?
These documents are required by your commodities broker to safeguard against any money laundering activity. AML, or Anti Money Laundering Rules require that every online broker asks for proof of ID & Residence which has your name so that to verify & certify that you're a resident citizen of the country that you state that you originate from as well as a Utility Bill copy that confirms your details of exact location where you reside, this way you cannot come up with a fake identity or fake residence to use for money laundering.
All regulated commodities brokers must comply to this requirement before opening a account for a new client trader.
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 - A Color copy of utility bill, electricity bill etc. (bill with a 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 application forms plus the above documents, your account application will be processed and you will be assigned a log in number & a login password for the live commodities trading account.
Once you upload these supporting documents your commodity trading account will then get verified. Your login details will be sent to your email address. An example of a validated 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 commodities account sign in details to log into your MT4 commodities trading software & begin trading on this verified commodity trading account. You can also use the same account login details to log in to your myaccount area trader cabinet on the broker web site. On the trader cabinet you can deposit money, withdraw money & view trading reports of your commodities trading broker account.
Commodity Trading Procedure of How to Open an Online Commodities Trading Account
To open this Commodity Trading real account, a beginner trader has to fill some online forms provided by a commodities trading broker. The commodity trading sign up account opening online form can be obtained from your online commodity broker.
Process of opening a real commodities account is one where your commodities broker will also require you to upload the following 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 is issued by authorities (e.g. Driver's license, identity card, etc). The identification document must contain the client's full name, an issue or expiry date, the client's place & date of birth or tax identification number and the client's signature.
2. Proof of Residence Location - Color copy of a utility bill - A recent utility bill (e.g. Electricity, water, gas, Internet or cable TV connection, phone, oil, bank account statement) dated within the last Six months and validating your registered address.
You can use your phone to take the photos of these documents and then upload them directly from your phone(this is best option when registering 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 after opening your commodity trading account it'll not get to be verified until you have completed uploading these supporting document copies.
Please note if you don't upload the above required documents your trading account will not be verified - Make sure that you upload above required accompanying documents to get your trading account verified. More than 50% of all the 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 accompanying documents then your trading account will be verified & you can start trading with your trading account within five minutes. Just take color photo of these 2 documents with your smartphone & upload these docs direct to your commodities broker site using your phone browser.
Where To Upload Documents on The Commodities Trading Account
Once you've filled the commodity trading account opening forms 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 commodity 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 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 beginner traders don't succeed in opening their commodity trading account due to the reason that they fail to upload required supporting documents.
Why is a Copy of Identity Card and a Copy of a Utility Bill with My Name Required?
These documents are required by your commodities broker to safeguard against any money laundering activity. AML, or Anti Money Laundering Rules require that every online broker asks for proof of ID & Residence which has your name so that to verify & certify that you're a resident citizen of the country that you state that you originate from as well as a Utility Bill copy that confirms your details of exact location where you reside, this way you cannot come up with a fake identity or fake residence to use for money laundering.
All regulated commodity brokers must comply with this requirement prior to opening a commodities account for a new client.
Once your online commodity broker receives these online commodity trading account opening application forms plus the above documents, your account application will be processed and you will be assigned an account sign in number & a password for the live commodities trading account.
Once your uploaded documents are approved by your commodity broker - your commodity trading account will then get verified. Your commodities trading account sign in credentials will be sent to your e-mail address.
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 commodities trading software & begin trading on this verified commodity trading account. You can also use the same commodities account sign in credentials to log in to your myaccount area trader cabinet on the broker web site. On the trader cabinet you can deposit money, withdraw money & view trading reports of your commodities trading broker account.
Commodity Traders Cabinet 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 and Western Union money transfer methods as shown below.
Open a live commodity trading account - As you complete this learn Commodity Trading course, open a commodity account early as it only takes a few minutes to open & validate your commodity trading account early.
