Procedure for Opening Stocks Trading Account
Procedure of Opening Stock Account Discussed
How to Register Stocks Trading Account
To open a Stock Trading Account you can go to a broker website & open a Stock Trading Account. Once you go to the broker of your choice & select this Stock Account Opening option, you'll then have to fill some online forms, the stock trading step by step process of filling these forms is explained in this tutorial - Opening Stock Account - Opening Stock Account Signup Procedure.
With this Opening Stock Trading Account you can trade the following: Stock, Stock, Silver, Stock Indices, Oil, Futures and CFDs.
How to Open Stocks Trading Account
To open this real stocks trading account, a trader has to fill some stock account opening forms provided by a stocks trading broker. The stock trading account opening form can be obtained from your stocks trading broker.
The process of opening a Stock Account is one where your stocks broker will also need you upload following required documents:
What Documents Are Needed To Open A Stock Trading Account?
1. Proof of ID - Color copy of ID card or Passport - A color copy of valid passport or any other official identification document that is issued by the 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 & date of birth or tax identification number & client's signature.
2. Proof of Residence - Color copy of utility bill - A recent utility bill (e.g. Electricity, phone, water, gas Internet and/or cable TV connection, bank account statement) dated within last Six months & confirming your registered address location.
You can use your phone to take the snap-shots of these documents and upload them directly from your phone(this is the best option when opening a stocks account). Alternatively, use a digital camera to take snap shots, upload the pictures to your PC computer then upload these supporting documents on to your trading account
To Find where to upload these required accompanying documents search for the option 'Upload Documents'. Please note that after opening your stock trading account will not get verified until time you complete uploading document copies of these accompanying supporting documents.
Why is a Copy of My ID and a Copy of a Utility Bill Document that Has My Name Required?
These documents are required by your stocks broker to safe guard against money laundering. AML, or Anti Money Laundering Regulations necessitate that all brokers requests proof of ID & Residence that has your name on it so that to verify & certify that you're a resident citizen of the country you claim you come from as well as a Utility Bill copy that confirms your exact location information of where you reside, this way you cannot come up with a fake identity or a fake residence to use for money laundering.
All regulated stock brokers must comply to this requirement before opening a stocks account for a new client.
Now once you have scanned or taken pictures of these stock trading account opening forms:
2.Proof of ID - Color copy of ID or Passport
3. Proof of Residence - Color copy of utility bill, electricity bill etc. (bill with a recent date, dated within the last six months).
Upload the above account sign-up forms plus above supporting required document color copies, you can use your camera phone to take color photos of above documents, then download the photos from your phone to your PC computer & then upload these photos from your Desktop PC computer.
Once your stock broker receives the stock trading account opening sign up forms plus above documents, your application will be processed and you'll be allocated a login account number and a log in password for the Stock Trading Account.
Once you upload these required accompanying documents your account will then get validated. Your login details will be sent to your email address. An example of a validated stocks trading account is shown below:
This is KYC - Know Your Client, it's more of a legal requirement than a mere formality, your stock 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 stocks platform & begin trading on this verified stock account. You can also use the same stock log in details to login to your trader cabinet on the broker website. On the trader cabinet you can deposit money, withdraw money & view trading reports of your stocks trading broker account.
How to Open Stock Trading Account
To open this stocks trading account, a trader has to fill some stock account opening forms provided by a stocks trading broker. The stock trading account opening form can be obtained from your stock broker.
The process of opening a Stock Account is one where your stocks broker will also need you upload the following supporting documents:
What Documents Are Needed To Open Stocks Trading Account?
1. Proof of ID - Color copy of ID card or Passport - A color copy of valid passport or any other official identification document that is issued by the 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 & date of birth or tax identification number & client's signature.
2. Proof of Residence - Color copy of utility bill - A recent utility bill (e.g. Electricity, phone, water, gas Internet and/or cable TV connection, bank account statement) dated within last Six months & confirming your registered address location.
You can use your phone to take the snap-shots of these documents and upload them directly from your phone(this is the best option when opening a stocks account). Alternatively, use a digital camera to take snap shots, upload the pictures to your PC computer then upload these supporting documents on to your trading account
To Find where to upload these required accompanying documents search for the option 'Upload Documents'. Please note that after opening your stock trading account will not get verified until time you complete uploading document copies of these accompanying supporting documents.
Please note if you do not upload above documents your stock trading account won't be verified - Make sure you upload above required documents to get your account validated. More than 50% of all the new traders do not succeed in opening their stock trading account because of failure to upload the required accompanying documents. If you correctly upload all the required supporting documents then your account will be validated and you can begin trading with your account within 5 minutes. Take color picture of these two documents with your smartphone & upload these supporting documents direct to your stocks broker site using your phone browser.
Where To Upload Documents on The Stock Trading Account
Once you have filled the account opening form that your stocks broker will have provided you with, you will get access to the client cabinet: This will then now be your stocks trading account.
'Upload Documents' Button Key can then be accessed from within this myaccount area trader cabinet & as a trader you can upload your documents using this button key.
Once you complete uploading correct documents on the 'Account Verification' on your account will reflect as Validated & you can then start trading on this stocks trading account.
This process may seem simple but more than 50 % of all new traders don't succeed in opening their stock 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 on Them Being Required?
These documents are required by your stocks broker to safe guard against money laundering. AML, or Anti Money Laundering Regulations necessitate that all brokers requests proof of ID & Residence that has your name on it so that to verify & certify that you're a resident citizen of the country you claim you come from as well as a Utility Bill copy that confirms your exact location information of where you reside, this way you cannot come up with a fake identity or a fake residence to use for money laundering.
All regulated stock brokers must comply to this requirement before opening a stocks account for a new client.
Once your stock broker receives these stock trading account opening application forms plus the above documents, your application will be processed and you'll be allocated a login account number and a password for real stocks trading account.
Once your uploaded documents are approved by your stock broker - your stock account will then get validated. Your log in details will then be sent to your email address. An example of a verified account is illustrated below:
This is KYC - Know Your Client, it's more of a legal requirement than a mere formality, your stock 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 & start trading on this verified account. You can also use the same log in details to log in to your trader cabinet on stock broker website. On the trader cabinet you can deposit money, withdraw money & view trading reports of your stocks trading broker account.
Stocks Traders Cabinet Members Area for Making Stock Account Deposit & Withdraw Request
Withdraw and deposit options provided from within the traders cabinet where stocks traders can deposit and make withdraws from various options provided, for examples: Bank Wire Transfer, Credit Card, Debit Card, Skrill, WebMoney, MoneyGram, Neteller and Western Union money transfer techniques as displayed below.
