Trade Forex Trading

How to Open a Live Forex Account - Step by Step Procedure of Account Sign Up

Forex Account Example - To open a Live Forex Account as a trader you as a forex trader can go to a online broker site and open Account. Once you as a trader go to Forex broker of your choice & select this option of opening a Live Account, you will then have to fill some online forex account signing up forms, the step by step process of filling these forex account opening forms is explained in this Open Live Forex Account Course Lesson - Account Example.

With this online account you as a trader can trade the following: Forex, Gold, Silver, Oil, CFDs, Futures and Index.

How to Open an Online Forex Account

To open this real trading forex account, a trader has to fill some online forex account opening form provided for by a broker. The account sign up online form can be obtained and gotten from your online forex currency broker.

Process of opening a live account is one where your broker will also require that you as a trader upload following supporting documents:

What Are Docs Required To Sign Up An FX Account?

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

2. Proof of Residency Location - Color copy of a utility bill - Recent dated 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 pictures of these documents & upload directly from your mobile phone(this is best option when signing up a fx account). Alternatively, use digital camera to capture snap-shots, upload snapshots to your desktop PC then upload saved docs on to your account

To Get where to upload these supporting documents search for the option/choice 'Upload Docs'. Please note after registering your trading account it won't get verified til you have finalized uploading these supporting documents.

Why is are Copies of ID & Utility Bill with My Name On Required?

The accompanying documents are needed by your broker to guard against any money laundering activities. AML, or Anti-Money Laundering Rules necessitate that all brokers ask proof of your Identity and Residence with your full names so that to verify and certify that you're a resident citizen of the particular country that you say you are from & also a Copy of Utility Bill that illustrates your precise residential address particulars of where you reside, that way you can not come up with some fake ID or residence address to use for doing money laundering.

All regulated brokers must adhere and comply to this requirement prior to opening a forex account for a new client.

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

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

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

Upload the above forms in addition to the above document colour copies, you as a trader can use your camera phone to take colour pictures of above docs, then download the pictures from your mobile phone to your PC computer and then upload these pictures from your computer.

Once your online forex currency broker gets the online Forex account sign up application forms plus the above documents, your application will be processed & you'll be assigned a forex sign in number & a forex sign in password for the real account.

Once you upload these accompanying docs your account then will be verified. Your forex login credentials will be sent to your E-Mail address.

This is K.Y.C. - Know Your Customer, it's more of a legal prerequisite requirement than a formality, your broker must comply with this rule and try & do everything so as to learn the info of who their customer is, in order and so as to ensure they safeguard against money laundering activity.

You then can use your authorization sign in details to log into your MT4 platform software & start and begin trading on this verified account. You also can use same sign in details to log in to your client cabin area on broker website. On the my-account area client cabin you as a FX trader can deposit money, withdraw money and view reports of your broker trading account.

How to Open an Online Forex Account

To open this forex account, a trader has to fill some online fx account opening form provided for by a online broker. The account sign up online form can be obtained and gotten from your online broker.

Process of opening a real account is one where your forex broker will also require you to upload the following documents:

What Are Documents Required To Sign Up An FX Account?

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

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

You can utilize your phone to snap snap-shots of these documents and upload directly from your phone(this is best option when registering a fx account). Alternatively, use digital camera to take snap-shots, upload the pictures to your PC then upload the saved documents on to your account login customers area on the website of your forex broker

To Get where to upload these accompanying docs search for the option/choice 'Upload Documents'. Please note after registering your account it won't get verified til you have completed uploading these supporting documents.

Please note if you don't upload above documents your account won't be validated/verified - Make sure you upload the above accompanying documents to get your account verified. More than 50 % of all new traders do not succeed in opening their forex account because they fail to upload the needed supporting documents. If you correctly upload all the required supporting documents then your account will be validated & you as a forex trader can begin trading with your account within 5 minutes. Take colour photo of these 2 docs with your smartphone & upload these docs directly to your broker website using your mobile phone browser app.

Where to Upload Documents on the Account

Once you have filled & Submitted account opening form that your forex broker will have given you, you will get access to the trade transaction cabinet: This then will be your account.

The 'Upload Documents' Button then can be accessed from this trader cabin and as a forex trader you as a trader can upload the needed accompanying docs using this button.

Once you finish uploading required documents on 'Account Verification' on your account shall display as Validated and you as a forex trader can then start trading on this forex account.

This process might seem simple but more than 50 % of all new beginners do not succeed in opening their trading account because of the reason/explanation that they fail to upload the needed supporting documents.

Why are Copies of My Identity Card & Utility Bill that Has My Names Needed?

The docs are needed by your broker to safe-guard against any money laundry activities. AML, or Anti-Money Laundry Rules necessitate that all brokers ask proof of your Identity and Residence with your full names so that to verify and certify that you're a residential citizen of the specified country which you say you're from and also a Copy of Utility Bill which portrays your current residential location particulars of where you reside, that way you can not come up with some fake ID or residence address to use for doing money laundering.

All regulated brokers must adhere and comply with this requirement prior to opening a forex account for a new client.

Once your online forex broker gets the online forex account sign up application forms plus the above documents, your application will be processed & you'll be assigned a sign in number & a password for the live account.

Once your up-loaded documents are validated/verified by your broker - your account then will get to be verified. Your log in credentials will be sent to your EMail address. An example of a verified account is displayed & shown below:

This is KYC - Know Your Client, it's more of a legal prerequisite requirement than just a formality, your broker must comply with this rule & try and do everything so as to know details & particulars of who their client really is, in order and so as to ensure they safeguard against money laundering activity.

You can then use your authorization sign in details to log into your MetaTrader 4 platform & begin and start trading on this verified account. You also can use same sign in details to log in to your trader cabin on online broker web site. On the my-account area trader cabin you as a FX trader can deposit money, withdraw money and view reports of your broker trading account.

Traders Cabinet Members Area for Making Account Deposits and Withdraws Request

Withdraw and deposit options provided from within the traders cabinet where traders can deposit & make withdraws from the different options provided, e.g.: Credit Card and Debit Card, Neteller, Skrill, WebMoney, Bank Wire Transfer, MoneyGram and Western Union money transfer methods just as shown below.

Open a live account - As you complete this learn FX course, open a account early as it only takes a few minutes to open and validate your account early.

How Do I Register Account - How Do I Register Trading Account - How to Open Live Forex Account - Account Example

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