Open Commodities Trading Account
How to Open a Real Commodity Trading Account
Open Commodities Live Account
To open a Open Commodity Trading Account you can go to a broker website and open a Commodity Trading Real Account. Once you navigate to the broker of your choice & select this Commodity Trading Live Account Open option, you'll then have to fill some online forms, the commodity step by step process of filling these forms is described in this tutorial - Open Commodity Account - Open Commodity Trading Account Open Procedure.
With this Open Commodities Live Account you can trade the following: Commodities, Commodities, Silver, Indices, Oil, Futures and CFDs.
How to Open Commodities Trading Account
To open this real commodities trading account, a trader has to fill some commodity account Open forms provided by a commodities trading broker. The commodity account Open form can be obtained from your commodity broker.
Process of opening a Real Commodity Trading Account is one where your commodity broker will also require that you upload the following supporting documents:
What Documents Are Needed To Open A 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 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 a utility bill - A recent utility bill (example. Electricity, phone, water, gas Internet and/or cable TV connection, bank account statement) dated within last 6 months and validating your signed up address location.
You can use your mobile phone to take pictures of these documents and then upload them directly from your mobile phone(this is the best option when opening a commodities trading account). Alternatively you can use your digital camera, upload the pictures to your desktop computer then upload the saved documents on to your account
To Get to where to upload the required accompanying documents look for the option 'Upload Documents'. Please note that after opening your commodity account it'll not get validated until you have completed uploading these supporting documents.
Why is a Copy of My ID & Utility Bill Document with My Name On It Required?
These documents are required by your commodity broker to guard against money laundering. AML, or Anti Money Laundering Regulations require all brokers ask for proof of ID and Residence with your name so that to verify that as a trader as a trader you are a citizen of the country you say you are from as well as a copy of a Copy of Utility Bill that shows your exact residence location, that way you cannot create some fake identity or some fake residence to use for money laundering.
All regulated commodities trading brokers must adhere and comply with this requirement before opening a commodity account for a new client.
Now once you have scanned or taken pictures of these commodities trading account Open forms:
2.Proof of ID - Color copy of ID card or Passport Document
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 accompanying documents color copies, you can use your phone camera to take color pictures of the above accompanying documents, then down-load the pictures from your phone to your PC computer PC & then upload these pictures from your Desktop PC computer.
Once your commodity broker receives the commodities account Open application forms plus the above documents, your application will be processed and you will be assigned a sign in number and a login password for the Real Commodities Trading Account.
Once you upload these required supporting documents your account will then get to be validated. Your log in details will be sent to your email address. An example of a validated commodity account is 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 and try to do everything to know who their client is, so as to safeguard against any money laundering activity.
You can then use your details to log into your MT4 commodity platform and start trading on this verified commodity account. You can also use the same commodity login details to log in to your trader cabinet on the broker web site. On the commodity myaccount area trader cabinet you can deposit money, withdraw money & view trading reports of your commodity broker account.
How to Open Commodity Trading Account
To open this commodity account, a trader has to fill some trading account open forms provided by a commodities trading broker. The commodity account Open form can be obtained from your commodities trading broker.
Process of opening a Real Commodity Trading Account is one where your commodity broker will also require that you upload the following supporting documents:
What Documents Are Needed To Open 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 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 a utility bill - A recent utility bill (example. Electricity, phone, water, gas Internet and/or cable TV connection, bank account statement) dated within last 6 months and validating your signed up address location.
You can use your mobile phone to take pictures of these documents and then upload them directly from your mobile phone(this is the best option when opening a commodities trading account). Alternatively you can use your digital camera, upload the pictures to your desktop computer then upload the saved documents on to your account
To Get to where to upload the required accompanying documents look for the option 'Upload Documents'. Please note that after opening your commodity account it'll not get validated until you have completed uploading these supporting documents.
Please note if you don't upload the above required documents your commodity account will not be validated - Make sure you upload the above required documents to get your account validated. More than 50% of all new traders don't succeed in opening their commodities trading account because they fail to upload the required accompanying documents. If you correctly upload all the required supporting documents then your account will be verified and you can start trading with your trading account within 5 minutes. Take color picture of these two documents with your smartphone & upload these directly to your commodity broker website using your mobile phone browser.
Where To Upload Copies of Documents on The Commodity Trading Account
Once you have filled the account registration forms that your commodity trading broker will have provided you with, you'll get access to your myaccount area client cabinet: This will now then be your commodities trading account.
The 'Upload Documents' Button Key can then be accessed from within this myaccount area trader cabinet and as a trader you can upload your documents using this button.
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 commodities trading account.
This process might seem simple but more than 50 % of all new traders do not succeed in opening their commodities trading account because they fail to upload the required accompanying documents.
Why is a Copy of ID & Utility Bill Document with My Name Required?
These documents are required by your commodity broker to guard against money laundering. AML, or Anti Money Laundering Regulations require all brokers ask for proof of ID and Residence with your name so that to verify that as a trader as a trader you are a citizen of the country you say you are from as well as a copy of a Copy of a Utility Bill that shows your exact residence location, that way you cannot create some fake identity or some fake residence to use for money laundering.
All regulated commodities trading brokers must adhere and comply with this requirement before opening a trading account for a new client.
Once your commodity broker receives these trading commodity account Open 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 real commodities trading account.
Once your uploaded documents are approved by your commodity broker - your commodity account will then be verified. Your log in details will be sent to your email address. Example of a verified account is displayed and illustrated 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 and try to do everything to know who their client is, so as to 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 the same log in details to login to your trader cabinet on the broker web site. On the commodity myaccount area trader cabinet you can deposit money, withdraw money & view trading reports of your commodity broker account.
Commodities Traders Cabinet Members Area for Making Commodity Account Deposit & Withdraw Request
Withdraw and deposit options provided from within the traders client cabinet area where commodities traders can deposit & make withdraws from various options provided, for examples: Bank Wire Transfer, Credit Card, Debit Card, Skrill, WebMoney, MoneyGram, Neteller & Western Union money transfer methods as displayed below.
