Procedure for Opening Gold Account

Procedure of Opening Trading XAUUSD Account Explained

Opening Gold Account

To open a XAUUSD Account you can go to a broker site & open a Gold Account. Once you go to the broker of your choice and choose this XAUUSD Account Opening option, you will then have to fill some online forms, the xauusd step by step process of filling these forms is described in this article - Opening Trading XAUUSD Account - Opening XAUUSD Account Opening Procedure.

With this Opening XAUUSD Account you can trade the following: XAUUSD, XAUUSD, Silver, Stock Indices, Oil, Futures and CFDs.

XAUUSD Procedure of How to Open Gold Account

To open this real gold trading account, a xauusd trader has to fill some xauusd account signup forms provided by a gold trading broker. The xauusd account opening form can be obtained from your xauusd broker.

Process of opening a XAUUSD Account is one where your xauusd broker will also require you to upload following required supporting documents:

What Documents Are Needed To Open A XAUUSD Account?

1. Proof of ID - Color copy of ID document 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 have client's full name, an issue or expiry date, client's place & date of birth or tax identification number & the client's signature.

2. Proof of Residence - Color copy of utility bill - A recent utility bill (e.g. Electricity, gas, water, phone, oil, Internet and/or cable TV connection, bank account statement) dated within last 6 months & confirming your registered address.

You can use your mobile phone to take the photos of these documents & upload them direct from your mobile phone(this is best option when opening a gold trading account). Alternatively, use digital camera to take snap shots, upload pictures to your PC computer and then upload these saved documents on to your account

To Find where to upload these required accompanying documents search for the option 'Upload Documents'. Please note that after opening your xauusd account it will not get verified until you've completed uploading these supporting documents.

Why is a Copy of Identity Card & a Copy of a Utility Bill with My Name Required?

These documents are required by your xauusd 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 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 xauusd brokers must comply to this requirement before opening a xauusd account for a new client.

Now once you have scanned or taken pictures of these xauusd trading account opening forms:

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

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 forms plus the above document color copies, you can use your camera phone to take color photos of the above documents, then download the pictures from your mobile phone to your computer PC & then upload these pictures from your computer.

Once your xauusd broker receives the xauusd trading account opening application forms plus above documents, your application will be processed & you'll be given login account number & a login password for Gold Account.

Once you upload these required accompanying documents your account will then get verified. Your login details will be sent to your email address. An example of a validated xauusd account is shown below:

This is KYC - Know Your Client, it is more of a legal requirement than a mere formality, your xauusd 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 MetaTrader 4 xauusd platform & begin trading on this validated gold account. You can also use the same xauusd log in details to login to your trader cabinet on the broker site. On the myaccount area trader cabinet you can deposit money, withdraw money and view trading reports of your xauusd broker account.

Gold Procedure of How to Open XAUUSD Account

To open this xauusd account, a xauusd trader has to fill some account opening form provided by a gold trading broker. The xauusd account opening form can be obtained from your gold trading broker.

Process of opening a XAUUSD Account is one where your xauusd broker will also require you to upload the following required documents:

What Documents Are Needed To Open Gold Account?

1. Proof of ID - Color copy of ID document 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 have client's full name, an issue or expiry date, client's place & date of birth or tax identification number & the client's signature.

2. Proof of Residence - Color copy of utility bill - A recent utility bill (e.g. Electricity, gas, water, phone, oil, Internet and/or cable TV connection, bank account statement) dated within last 6 months & confirming your registered address.

You can use your mobile phone to take the photos of these documents & upload them direct from your mobile phone(this is best option when opening a gold trading account). Alternatively, use digital camera to take snap shots, upload pictures to your PC computer and then upload these saved documents on to your account

To Find where to upload these required accompanying documents search for the option 'Upload Documents'. Please note that after opening your xauusd account it will not get verified until you've completed uploading these supporting documents.

Please note if you do not upload above documents your xauusd account will not be validated - Make sure that you upload above documents to get your trading account verified. More than 50% of all the beginners don't succeed in opening their xauusd trading account because they fail to upload required accompanying documents. If you correctly upload all the required accompanying documents then your account will be verified & you can start trading with your account within 5 minutes. Just take color photo of these 2 documents with your smart-phone and upload these docs direct to your xauusd broker website using your mobile phone browser.

Where to Upload Copies of Documents on the XAUUSD Account

Once you've filled the account signup form that your xauusd trading broker will have provided you with, you will get access to your myaccount area client cabinet: This will now then be your gold trading account.

The 'Upload Documents' Button can then be accessed from within this myaccount area myaccount area client cabinet & as a trader you can upload your documents using this button key.

Once you finish uploading correct documents on 'Account Verification' on your account will reflect as Validated & you can then start trading on this gold trading account.

This process may seem simple but more than 50 % of all new traders don't succeed in opening their xauusd trading account due to failure to upload required accompanying 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 xauusd 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 xauusd 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 xauusd brokers must adhere with this requirement before opening a account for a new client.

Once your xauusd broker receives these trading xauusd account opening application forms plus the above documents, your application will be processed & you will be assigned a log in number & a password for the real gold trading account.

Once your uploaded documents are approved by your gold broker - your xauusd account will then be verified. Your login details will be sent to your email address. Example of a verified account is illustrated & shown below:

This is KYC - Know Your Client, it is more of a legal requirement than a mere formality, your xauusd 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 MetaTrader 4 platform & begin trading on this validated account. You can also use same login details to log in to your trader cabinet on the broker site. On the myaccount area trader cabinet you can deposit money, withdraw money and view trading reports of your xauusd broker account.

Gold Traders Cabinet Members Area for Making XAUUSD Account Deposit and Withdraw Request

Withdraw and deposit options provided from within the traders cabinet area where 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.