Guide for Sign up Account Forex Account - Sign up Forex Account Procedure
Procedure of Sign up Forex Account Explained - Step by Step Procedure of Sign up Forex Trading Account
Sign up Forex Account - How to Open Forex Account - Sign up Account Forex Account
To open a Forex Account you can go to a broker site & open a Forex Account. Once you go to the Forex broker of your choice and choose this Forex Account Sign up option, you'll then have to fill some online forms, the step by step process of filling these forex account signing-up forms is described in this tutorial - Sign up Forex Account - Sign up Forex Account Sign up Procedure.
With this Sign up Forex 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 forex account, a trader has to fill some forex account sign up forms provided by a Forex broker. The forex account sign up form can be obtained from your forex trading broker.
Process of signing-up for a 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 the accompanying documents look for the option "Upload Documents". Please note after signing up for your trading account it won't be verified until you've completed uploading these supporting documents.
Why is a Copy of My Identity Card and a Copy of Utility Bill with My Name Required?
These documents are required by your Forex 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 a Copy of 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 brokers must adhere & comply with this requirement before signing up for a forex account for a new client.
Now once you have scanned or taken pictures of these forex account sign up 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 account sign up application forms plus the above documents, your application will be processed and you will be assigned a log in number and a log in password for the 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 forex platform & start 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 broker site. On the myaccount area trader cabinet you can deposit money, withdraw money and view trading reports of your Forex broker account.
How to Open Forex Trading Account
To open this forex account, a trader has to fill some forex account sign up forms provided by a Forex broker. The forex account sign up form can be obtained from your forex trading broker.
Process of signing-up for a 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 the accompanying documents look for the option "Upload Documents". Please note after signing up for your trading account it won't be verified 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 that you upload the above required supporting documents to get your account verified. More than 50% of all the new traders do not succeed in signing-up for 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 broker website using your mobile phone browser.
Where To Upload Documents on The Forex Trading Account
Once you have filled & Submitted account sign up 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 beginner traders don't succeed in signing-up for their forex account because they fail to upload the required accompanying documents.
Why is a Copy of My Identity Card and a Copy of Utility Bill Document that Has My Name Required?
These documents are required by your Forex 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 a Copy of 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 brokers must adhere & comply with this requirement before signing up for a forex account for a new client.
Once your forex broker receives these forex account sign up application forms plus the above documents, your application will be processed and you'll be assigned a sign in number & a password for the real forex 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 broker site. On the myaccount area trader cabinet you can deposit money, withdraw money and view trading reports of your Forex broker account.
Forex Traders Cabinet Members Area for Making Forex Account Deposits and Withdraws 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.
