How to Open a MT4 Live Account - Step by Step Procedure of MT4 Live Account Opening
MT4 Live Account Example - To open a Live Forex Account you can go to an online broker website and open MT4 Live Account. Once you go to the broker of your choice & select this option of opening a Live MT4 Live Account, you'll then have to fill some online MT4 Live Account opening forms, the step by step process of filling these MT4 Live Account opening forms is explained in this Open Live MT4 Live Account Tutorial Lesson - MT4 Live Account Example.
With this online trading account you can trade the following: Forex, Gold, Silver, Oil, CFDs, Futures and Stock Indices.
How to Open an Online MT4 Real Account
To open this live trading forex account, a trader has to fill some online MT4 Live Account opening forms provided by a forex trading broker. The forex account opening online form can be obtained from your online forex trading broker.
Process of opening a real MT4 Live Account is one where your forex trading broker will also require you to upload the following documents:
What Are Documents Required To Open An Online MT4 Live FX Trading Account?
1. Proof of ID - Color copy of ID card or Passport - A color copy of official identification card or valid passport document or other document that is issued by authorities (example. Driver's license, identity card, etc). Identification document must have the client's full name, an issue or expiry date, the client's place and date of birth or tax identification number and client's signature.
2. Proof of Residence - Color copy of utility bill - A recent utility bill (e.g. Electricity, gas, water, phone, oil, Internet and/or cable TV connection, bank account statement) dated within last 6 months & confirming your registered address.
You can use your phone to take the photos of these documents & upload them directly from your phone(this is best option when signing up a forex trading account). Alternatively, use digital camera to take snapshots, upload pictures to your PC then upload saved documents on to your account
To Get where to upload these supporting documents search for the option 'Upload Documents'. Please note after opening your account it will not get verified until you have completed uploading these supporting documents.
Why is a Copy of ID & a Copy of Utility Bill Document with My Name On Required?
These accompanying documents are required by your forex trading broker to safe-guard against money laundering. AML, or Anti Money Laundering Rules necessitate that all forex trading brokers request proof of ID and Residence which has your name so that to verify that you are a resident citizen of the country you say you are from as well as a Utility Bill that proves your exact location where you reside, that way you cannot come up with some fake identity or residence location to use for doing money laundering.
All regulated forex trading brokers must adhere and comply with this requirement prior to opening a MT4 Live Account for a new client.
Now once you have scanned or taken pictures of these forex account opening forms:
2. Proof of ID - Color copy of ID card or Passport
3. Proof of Residence - Color copy of a utility bill, electricity bill etc. (bill with recent date, dated within the last 6 months).
Upload the above forms plus the above document color copies, you can use your camera phone to take color pictures of above documents, then download the pictures from your phone to your PC Desktop computer & then upload these pictures from your computer.
Once your online forex trading broker receives the online MT4 Live Account opening application forms plus the above documents, your application will be processed and you will be assigned a forex log in number and a forex sign in password for the live MT4 Real Account.
Once you upload these supporting documents your forex account will then be validated. Your forex login credentials will be sent to your e-mail address.
This is KYC - Know Your Client, it's more of a legal requirement than a mere formality, your broker must follow this policy and try to do everything to know who their client is, in order to ensure that they safeguard against any money laundering activity.
You can then use your details to log into your MT4 platform and start trading on this verified account. You can also use same login details to log in to your trader cabinet on forex trading broker website. On the my-account area trader cabinet you can deposit money, withdraw money & view trading reports of your forex trading broker account.
How to Open an Online MT4 Real Account
To open this forex account, a trader has to fill some online MT4 Live Account opening forms provided by a forex trading broker. The forex account opening online form can be obtained from your online forex trading broker.
Process of opening a real MT4 Live Account is one where your forex trading broker will also need you to upload following accompanying documents:
What Are Documents Required To Open An Online MT4 Live FX Trading Account?
1. Proof of ID - Color copy of ID card or Passport - A color copy of official identification card or valid passport document or other document that is issued by authorities (example. Driver's license, identity card, etc). Identification document must have the client's full name, an issue or expiry date, the client's place and date of birth or tax identification number and client's signature.
2. Proof of Residence - Color copy of utility bill - A recent utility bill (e.g. Electricity, gas, water, phone, oil, Internet and/or cable TV connection, bank account statement) dated within last 6 months & confirming your registered address.
You can use your phone to take the photos of these documents & upload them directly from your phone(this is best option when signing up a forex trading account). Alternatively, use digital camera to take the snapshots, upload the pictures to your PC then upload the saved documents on to your forex account log in clients area on the web site of your forex trading broker
To Get where to upload these supporting documents search for the option 'Upload Documents'. Please note after opening your forex account it will not get verified until you have completed uploading these supporting documents.
Please note if you don't upload above documents your MT4 Live Account will not be validated - Make sure you upload the above documents to get your forex account verified. More than 50% of all new traders don't succeed in opening their forex account because they fail to upload the required accompanying documents. If you correctly upload all the required supporting documents then your MT4 Live Account will be validated and you can start trading with your trading account within 5 minutes. Take color photo of these two documents with your smartphone & upload these docs directly to your forex trading broker site using your phone browser.
Where to Upload Documents on the Forex Trading Account
Once you have filled and Submitted account registration form that your forex trading broker will have provided you with, you will get access to the trade cabinet: This will then be your forex account.
The 'Upload Documents' Button Key can then be accessed from within this client cabinet & as a trader you can upload your documents using this button key.
Once you complete uploading the correct documents on 'Account Verification' on your account will reflect as Validated and you can then start trading on this forex account.
This process might seem simple but more than 50 % of all new beginner traders do not succeed in opening their MT4 Live Account because they fail to upload the required accompanying documents.
Why is a Copy of My Identity Card & a Copy of Utility Bill with My Name Required?
These documents are required by your forex trading broker to safe-guard against money laundering. AML, or Anti Money Laundering Rules necessitate that all forex trading brokers request proof of ID and Residence which has your name so that to verify that you are a resident citizen of the country you say you are from as well as a Utility Bill that proves your exact location where you reside, that way you cannot come up with some fake identity or residence location to use for doing money laundering.
All regulated forex trading brokers must adhere and comply with this requirement prior to opening a MT4 Live Account for a new client.
Once your online forex trading broker receives these online forex account opening application forms plus the above documents, your application will be processed and you will be assigned a log in number and a password for the live MT4 Real Account.
Once your uploaded documents are approved by your broker - your account will then get to be validated. Your login details will be sent to your email address. An example of a verified account is displayed and illustrated below:
This is KYC - Know Your Client, it's more of a legal requirement than a mere formality, your broker must follow this policy and try to do everything to know who their client is, in order to ensure that they safeguard against any money laundering activity.
You can then use your details to log into your MT4 platform and start trading on this verified account. You can also use same login details to log in to your trader cabinet on forex trading broker website. On the my-account area trader cabinet you can deposit money, withdraw money & view trading reports of your forex trading broker account.
Forex Traders Cabinet Members Area for Making FX Account Deposits & Withdraws Request
Withdraw and deposit options provided from within the traders cabinet where traders can deposit & make withdraws from the various options provided, for example: Credit Card and Debit Card, Neteller, Skrill, WebMoney, Bank Wire Transfer, MoneyGram and Western Union money transfer methods as shown below.
Open a real account - As you complete this learn Forex course, open an account early as it only takes a few minutes to open & validate your account early.
How to Open Forex Account - How to Open MT4 Live Account - How to Open Live MT4 Live Account - MT4 Live Account Example
