Procedure for Opening Forex Real Account - Opening Forex Account Procedure
Procedure of Opening Trading Forex Account Explained - Step by Step Procedure of Opening Forex Account
Opening Forex Real Account - How to Open a Real Forex Account
To open a Forex Account you can go to a broker site & open a Forex Real Account. Once you go to Forex trading broker of your choice & select this Forex Real Account Opening option, you'll then have to fill some online forms, the step by step process of filling these forms is described in this tutorial - Opening Trading Forex Account - Opening Forex Account Opening Procedure.
With this Opening Forex Real Account you can trade the following: Forex, Gold, Silver, Stock Indices, Oil, Futures and CFDs.
How to Register Forex Trading Account
To open this real trading forex account, a trader has to fill some forex account signup form provided by a Forex trading broker. The forex account opening form can be obtained from your forex trading broker.
The process of opening a Real Forex Account is one where your broker will also require you to upload the following accompanying documents:
What Documents Are Needed To Open A Forex 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's issued by authorities (e.g. Driver's license, identity card, etc). The identification document must contain the client's full name, an issue or expiry date, the client's place & date of birth or tax identification number and the client's signature.
2. Proof of Residence Address - Color copy of utility bill - A recent utility bill (example. Electricity, gas, water, phone, oil, Internet and/or cable TV connection, bank account statement) dated within last 6 months & confirming your signed up address location.
You can use your phone to take the pictures of these documents & upload them direct from your phone(this is the best option when opening a forex account). Alternatively, use digital camera to take snapshots, upload the pictures to your PC then upload saved documents onto your account
To Find where to upload these required accompanying documents search for the option "Upload Documents". Please note that after opening your account it'll not get validated until you've completed uploading these supporting documents.
Why is a Copy of My ID and a Copy of Utility Bill Document that Has My Name Required?
These documents are required by your Forex trading broker to safeguard against money laundering. AML, or Anti Money Laundering Rules entail that all brokers ask proof of ID and Residence with your name so as to verify that you are a citizen of the country you claim as a trader you are from as well as a Utility Bill that shows your exact location where you reside, that way you can't come up with some fake identity or fake residency location to use for money laundering.
All regulated Forex trading brokers must adhere & comply with this requirement prior to opening a forex 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 Details - A Color copy of a utility bill, electricity bill etc. (bill with a recent date, dated within the last six months).
Upload the above forms plus the above document color copies, you can use your camera phone to take the color pictures of the above documents, then download the pictures from your phone to your computer PC and then upload these pictures from your computer.
Once your forex broker receives the Forex trading account opening sign up forms plus the above documents, your application will be processed & you will be allocated login account number & a log in password for the Real Forex Account.
Once you upload these supporting documents your account will then get to be validated. Your login details will be sent to your email address. An example of a validated forex account is shown below:
This is KYC - Know Your Client, it's more of a legal requirement than a mere formality, your broker must follow this policy & try to do everything to know who their client is, in order to guard against money laundering activities.
You can then use your details to log into your MT4 trading platform & begin trading on this validated forex account. You can also use the same forex login details to log in to your trader cabinet on the Forex trading broker site. On the myaccount area trader cabinet you can deposit money, withdraw money and view trading reports of your Forex trading broker account.
How to Open Forex Trading Account
To open this forex account, a trader has to fill some account registration form provided by a Forex trading broker. The forex account opening form can be obtained from your forex trading broker.
The process of opening a Real Forex Account is one where your broker will also require you to upload the following accompanying documents:
What Are The Documents That Are Needed To Sign Up Forex 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's issued by authorities (e.g. Driver's license, identity card, etc). The identification document must contain the client's full name, an issue or expiry date, the client's place & date of birth or tax identification number and the client's signature.
2. Proof of Residence Address - Color copy of utility bill - A recent utility bill (example. Electricity, gas, water, phone, oil, Internet and/or cable TV connection, bank account statement) dated within last 6 months & confirming your signed up address location.
You can use your phone to take the pictures of these documents & upload them direct from your phone(this is the best option when opening a forex account). Alternatively, use digital camera to take snapshots, upload the pictures to your PC then upload saved documents onto your account
To Find where to upload these required accompanying documents search for the option "Upload Documents". Please note that after opening your account it'll not get validated until you've completed uploading these supporting documents.
Please note if you don't upload the above required documents your forex 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 forex account because they fail to upload the required accompanying documents. If you correctly upload all the required accompanying documents then your trading account will be verified & you can start trading with your account within 5 minutes. Just take color picture of these 2 documents with your smart-phone & upload these direct to your Forex trading broker site using your phone browser.
Where To Upload Documents on The Forex Trading Account
Once you have filled & Submitted account opening forms that your broker will have provided you with, you will get access to your trade cabinet: This will now then be your forex account.
"Upload Documents" Button Key can then be accessed from within this myaccount area client cabinet & as a trader you can upload your documents using this button.
Once you complete uploading correct documents on the "Account Verification" on your account will reflect as Validated & you can then start trading on this account.
This process may seem simple but more than 50% of all new beginners don't succeed in opening their Forex trading account due to the reason that they fail to upload the required supporting documents.
Why is a Copy of ID & a Copy of Utility Bill Document with My Name Required?
These documents are required by your Forex trading broker to safeguard against money laundering. AML, or Anti Money Laundering Rules entail that all brokers ask proof of ID and Residence with your name so as to verify that you are a citizen of the country you claim as a trader you are from as well as a Utility Bill that shows your exact location where you reside, that way you can't come up with some fake identity or fake residency location to use for money laundering.
All regulated Forex trading brokers must adhere & comply with this requirement prior to opening a trading account for a new client.
Once your forex broker receives these trading forex account opening application forms plus the above documents, your application will be processed and you'll be assigned a log in number & a password for the real Forex trading account.
Once your uploaded documents are approved by your broker - your forex account will then be verified. Your log in details will be sent to your e-mail address. Example of a verified account is shown below:
This is KYC - Know Your Client, it's more of a legal requirement than a mere formality, your broker must follow this policy & try to do everything to know who their client is, in order to guard against money laundering activities.
You can then use your details to log into your MT4 platform & begin trading on this verified account. You can also use the same login details to log in to your trader cabinet on the Forex trading broker site. On the myaccount area trader cabinet you can deposit money, withdraw money and view trading reports of your Forex trading broker account.
Forex Traders Cabinet Members Area for Making FX Trading Account Deposit & Withdraw Request
Withdraw and deposit options provided from within the traders cabinet where 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 techniques as displayed below.
