Procedure for Opening Account

Procedure of Opening Account Explained

Opening Account

To open a Account you can go to a broker website and open a Account. Once you go to the broker of your choice & select this Account Sign Up option, you will then have to fill some forms, the xauusd step by step guide of filling these forms is described in this guide - Opening Account - Opening Account Sign Up Procedure.

With this Opening Account you can transact the following: XAUUSD, XAUUSD, Silver, Stock Indices, Oil, Futures & CFDs.

Gold Procedure of How to Open Account

To register this live account, one has to fill some account registration forms which are provided by a broker. The account registration form can be obtained from your online broker.

Process of opening a Account is one that the broker also will require you to upload following required accompanying docs:

What Documents Are Needed To Open A Account?

1. Proof of ID - Colour copy of ID document or Passport - A colour copy of valid passport or other official identification document that's issued by authorities (e.g. Driver's license, identity card, etc). Identification document must include trader's full names, an issue or expiry date, the customer's place and the date of birth or tax Identity number & the customer's signature.

2. Proof of Residency Location - Color copy of utility bill - A recent dated utility bill (e.g. Electricity, gas, water, phone, oil, Internet and/or pay TV connection, bank account statement) dated within last Three months & confirming your registered address.

You can utilize your phone to snap photos of these documents & upload them direct from your phone(this is best option when opening a account). Alternatively, use digital camera to take snap shots, upload pictures to your PC computer & then upload these saved docs on to your trading account

To Find where to upload these required supporting documents search for the option 'Upload Docs'. Please note that after registering your trading account it won't get validated until you have completed uploading these supporting documents.

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

These docs are required by your online broker to safe-guard against equity laundering. AML, or Anti Money Laundering Rules require brokers request proof of Identity & Residential with your name so that to verify that you as a trader you're a resident citizen of the particular country that you say you are from and also a copy of Utility Bill that highlights your precise current residence location, that way you can't create some fake ID or some fake residence to use for money laundry.

All regulated brokers must comply to this requirement prior-to registering a account for a new client.

Now once you've scanned or taken images of these account registration forms:

2.Proof of Identity - Color copy of Identity card or Passport

3. Proof of Residency Location - Color copy of utility bill, electricity bill etc. (bill with a recent date, dated in last Three months).

Upload the above forms in addition to the above document coloured copies, you can use your camera phone to take colour photos of the above docs, then download the pictures from your phone to your computer PC & then upload these pictures from your computer.

Once your broker receives the account registration application forms plus the above documents, your application will be processed & you'll be given login account number & a login password for Account.

Once you upload the required supporting documents your trading account will then get verified. Your sign in authorization details will be sent to your email address. An example of a validated account is illustrated below:

This is KYC - Knowing Your Customer, it is more of a legal requirement than a formality, your online broker must adhere to this policy guideline & try & do everything to know the details of who their customer is, so as to safeguard against money laundry activity.

You can then use your credentials to sign into your MetaTrader 4 platform & start trading on this validated account. You also can use the same xauusd log in details to log in to your trader cabinet on the broker site. On the my client account area cabin you can deposit equity, withdraw money and view reports of your online broker account.

Gold Method of How to Open Account

To open this trading account, one has to fill some account registration form provided by a broker. The account registration form can be obtained from your broker.

Process of opening a Account is one that the broker will also need you to upload the following required document copies:

Which Documents Are Needed To Sign Up Account?

1. Proof of ID - Color copy of Identity document or Passport - A color copy of valid passport or other official ID document that is issued by authorities (e.g. Driver's license, identity card, etc). Identification document must include trader's full names, an issue or expiry date, the customer's place & the date of birth or tax ID number and the customer's signature.

2. Proof of Residency Location - Color copy of utility bill - A recent dated utility bill (e.g. Electricity, gas, water, phone, oil, Internet and/or pay TV connection, bank account statement) dated within last Three months and confirming your registered address.

You can utilize your phone to snap photos of these documents & upload them direct from your phone(this is best option when opening a account). Alternatively, use digital camera to take snap shots, upload pictures to your PC computer & then upload these saved docs on to your trading account

To Find where to upload these required supporting documents search for the option 'Upload Docs'. Please note that after registering your account it won't get validated until you have completed uploading these accompanying documents.

Please note if you don't upload the above documents your account won't be verified - Make sure that you upload the above documents to get your account validated. More than 50 % of all the beginners don't succeed in opening their account because they fail to upload required accompanying documents. If you correctly upload all the required accompanying docs then your trading account will be verified and you can begin trading with your account within 5 minutes. Just take colour photo of these 2 docs with your smart-phone & upload these docs direct to your broker website using your phone browser.

Where to Upload Copies of Docs on the Account

Once you've filled in the account signup form that your broker will have provided you with, you will get access to your myaccount area client cabin: This will now then be your account.

The 'Upload Documents' Button can then be accessed within this myaccount area client cabin & as a trader you can upload your accompanying docs using this button key.

Once you finish uploading required documents on 'Account Validation' on your account shall then display as Validated & you can then start trading on this live account.

This process may seem simple but more than 50% of all beginner traders do not succeed in opening their account due to failure to upload required accompanying docs.

Why are Copies of My Identity Card & a Copy of Utility Bill with My Name Required?

These documents are required by your online broker to safe-guard against equity laundering. AML, or Anti Money Laundering Rules require brokers request proof of Identity & Residential with your name so that to certify that you as a trader you are a residential citizen of the specified country that you say you're from as well as a Copy of Utility Bill which highlights your exact current residence location, that way you can't create some fake ID or some fake residence to use for money laundry.

All regulated brokers must adhere with this requirement before opening a account for a new client.

Once your broker receives these account registration application forms plus the above documents, your sign up application will be processed & you will be given a log in number & a password for the real account.

Once the up-loaded documents are validated by your online broker - your trading account will then be validated. Your sign in authorization details will be sent to your email address. Example of a verified account is shown and portrayed below:

This is KYC - Knowing Your Customer, it is more of a legal requirement than a formality, your broker must adhere to this policy guideline and try and do everything to know the details of who their customer is, so as to safeguard against money laundering activity.

You can then use your credentials to sign into your MetaTrader 4 platform and begin trading on this validated account. You also can use same sign in details to log in to your trader cabinet on the broker site. On the my client account area cabin you can deposit equity, withdraw money and view reports of your online broker account.

Traders Cabinet Members Area for Making Account Deposit & Withdraw Request

Withdraw and deposit options provided from within the traders cabinet area where traders can deposit and make withdraws from various options provided, for example: Bank Wire Transfer, Credit Card, Debit Card, Skrill, WebMoney, MoneyGram, Neteller & Western Union money transfer techniques as shown below.