Open Live Account

XAUUSD Procedure of Open Online Broker Trading Account

How to Open Live Account

To open a Open Account you as a gold trader can go to a broker website and open a Real Account. Once you as a trader go to broker of your choice & choose this Live Account Open option, you will then have to fill some forms, the xauusd step by step procedure of filling these forms is illustrated in this article - Open Account - Open Account Open Procedure.

By opening this Live Account, you as a gold trader are able to trade the following: XAU USD, XAU/USD, Silver, Indices, Oil, Futures & CFDs.

XAUUSD Method of How to Open Trade Account

To sign up for a live account, fill out the account opening forms from an online broker. You'll get these forms directly from your broker.

To open a real account, your broker asks for copies of these support documents.

What Docs Are Required To Open A Account?

1. Proof of ID - Colour copy of Identity doc or Passport - A color copy of valid passport or other official ID card document that's issued by authorities (example. Driver's license, identity card, etc). The ID doc include client's full names, an issue or an expiry date, client's place & date of birth or tax Identity No. and client's signature.

2. Verification of Domicile - A color reproduction of a recent utility invoice (such as electricity, gas, water, telephone, heating oil, internet, or pay TV subscription, or a bank statement) issued within the last three months, confirming your registered residential address.

You can use your mobile phone device to take the photos of these docs and upload them direct from your phone(this is best option when registering a trading account). Alternatively, use digital photo camera to take snap-shots, upload pictures to your desktop PC computer and then upload these saved docs on to your account

To find where to upload the required documents, search for the 'Upload Documents' option. Keep in mind that your trading account won't be validated until all necessary documents have been successfully uploaded.

Why are Copies of My Identity & a Copy of Utility Bill Document that has My Names Needed?

Brokers need these documents to prevent money laundering. Anti-money laundering rules require proof of identity and address. Submit your full name and a utility bill with your current address. This stops fake identities for illegal purposes.

All regulated brokers must comply and adhere with this guideline before and prior to registering a account for a new client.

Now once you have scanned or taken images of these account Open forms:

2.Proof of ID - Coloured copy of ID card or Passport

3. Proof of Residency - A colored copy of a bill for utilities like electricity (the bill needs to be recent, from within the last three months).

Upload the forms plus colored copies of the documents. As a gold trader, snap color photos with your phone camera. Transfer the photos from phone to PC desktop. Then upload them from the computer.

Your broker processes your signup after getting the forms and documents. They send you a login ID and password for the real account.

After you submit your documents, the account gets approved. Login info arrives by email. See an example of a confirmed account below.

This is KYC - Know Your Client, which is more of a required legal thing than just a formality, your online broker has to follow this rule & try & do all they can to know who their client is, to help prevent any illegal money activity.

Log in to your MetaTrader 4 with your details to trade on the verified account. Use the same info for the broker's trader cabinet online. In your client area, deposit funds, pull out cash, and check account reports as a gold trader.

Gold Method of How to Open Account

To open a trading account, just fill out the forms your broker gives you. You can get the account opening form directly from your broker.

The process of opening a Live Account is one which your broker also will require and need you to also upload the following required document copies:

Which Documents Are Required To Open Account?

1. Identification Verification – A color reproduction of your identification document or Passport – You must submit a color copy of a valid passport or another official government-issued identity document (e.g., driver's license, national ID card). This proof of ID must clearly display the client's full name, either an issue or expiration date, the client's place and date of birth or Tax ID Number, and the client's signature.

Proof of address needs a color copy of a recent bill. Use a utility bill like electricity, gas, water, phone, or bank statement. It must be from the last three months and show your address.

You have the option to use your mobile device to capture images of these documents and upload them directly from your phone (this is often the most convenient method when establishing an account). Alternatively, utilize a digital camera to take the necessary snapshots, transfer these pictures to your PC, and then upload the saved files to your account portal.

To locate where to upload the necessary supporting documents, look for the option labeled 'Upload Documents.' Keep in mind that your account will not be validated until you complete the document upload after registering.

Please note if you do not upload the above docs your account won't be verified - Make sure that you upload the above docs to get your trading account verified. More than 50% of all the beginner traders do not succeed in opening their account because they fail in uploading required supporting documents. If you properly upload all the required accompanying documents then your account will be verified/validated & you as a gold trader can start trading with your trading account within five minutes. Just take color photo of these 2 documents with your smart-phone & upload these docs direct to your broker website using your mobile phone browser app.

Where to Upload Copies of Documents on the Account

After completing your broker's account registration forms, you will gain access to your client portal, known as your "mycabin area." This space will serve as your trading account hub.

Click the 'Upload Documents' button in your client area. As a gold trader, use it to send your files there.

Once you finish uploading the correct documents on 'Account Verification' on your account will then reflect as Validated & you as a gold trader can then begin trading on this live account.

Opening a trading account looks easy at first. Yet over half of new traders fail. They skip uploading the needed documents.

Why are Copies of Identity Card & a Copy of Utility Bill with My Names Needed?

These docs are required by your broker to guard against any money laundering. AML, or Anti-Money Laundering rules, mean online brokers need you to provide proof of identity and proof of address, both showing your full name. This way, they can confirm you actually live in the country you claim. You'll also need to submit a utility bill with your current address. For gold traders, this stops anyone from using fake names or addresses to launder money.

All brokers subject to regulation must comply with and abide by this requirement prior to enrolling a new client's account.

Your broker will process your signup forms and documents. Then they'll give you a login ID and password for the live account.

Once your up-loaded documents are validated by your online broker - your account will then be verified. Your log in authorization logon details will be sent to your E Mail address. Example illustration of a verified/validated account is shown below:

KYC, short for "Know Your Customer," is a legal requirement rather than a mere formality. Trading brokers must comply with this regulation by identifying and verifying their clients to prevent money laundering and maintain operational integrity.

Log into your MT4 platform with your credentials. Start trading on this verified account. Use the same details to access your trader cabinet on the broker site. In your client area as a gold trader, deposit funds, withdraw cash, and review account reports.

Traders Cabinet Members Area for Making Account Deposit and Withdraw Request

In the trader's cabinet, you will find options for deposits and withdrawals. You can utilize methods such as bank wire, credit card, debit card, Skrill, Neteller, WebMoney, MoneyGram, or Western Union, as illustrated below.

Extra tutorials and sessions available

Trade Forex Trading