Account Online Trading - How to Open a Live Account - Step by Step Procedure
How to Open a Live Account - Step by Step Procedure
To open a Live Account as a trader you can go to an broker website & open one. Once you go to the broker of your choice and choose this option, you will then have to fill some online forms, the step by step process of filling these forms is described in this guide.
With this online account you can trade the following: FX, Gold, Silver, Oil, CFDs, Futures and Stock Indices.
How to Open an Online Account
To sign up this live trading account, one has to fill some online forms provided by a online broker. The account opening online form can be obtained from your online currency broker.
Process of opening a real account is one which your online broker also will require you to upload the following document copies:
What Are The Documents Required To Register An Online Account?
1. Proof of ID - Color copy of Identity card or Passport - A color copy of official identification card or valid passport document or other document that is issued by authorities (example. Driver's license, identity card, etc). The identification document have client full names, an issue or an expiry date, the client's place and the date of birth or tax identification number & the client's signature.
2. Proof of Residence - Colored copy of utility bill - Recent dated utility bill (e.g. Electricity, gas, water, phone, oil, Internet &/or pay TV connection, bank account statement) dated within the last 3 months & confirming your registered address.
You can use your phone device to take the photos of these documents and upload them directly from your mobile device(this is the best option when registering a trading account). Alternatively, use digital camera to take snapshots, upload pictures to your desktop PC then upload saved docs on to your trading account
To Get where to upload these supporting documents search for the option 'Upload Docs'. Please note after registering your account it will not get validated until you have completed uploading these accompanying docs.
Why is a Copy of My ID & a Copy of a Utility Bill Document with My Names Needed?
The documents are needed by your broker to guard against any money laundering. AML, or Anti-Money Laundering Rules & Regulations require that all online brokers ask for proof of Identity and Residential location with your full name so as to certify that you are a residential citizen of the specified country that you claim you're from as well as Copy of a Utility Bill that highlights your current residence location details where you stay, that way you cannot come up with a fake identity or residence location to use for doing money laundry.
All regulated brokers must adhere and comply with this requirement prior to opening a account for a new client.
Now once you have scanned or taken images of these account opening forms:
2. Proof of ID - Color copy of Identity card or Passport
3. Proof of Residence - Colored copy of utility bill, electricity bill etc. (bill with recent date, dated within the last 3 months).
Up-load the above forms in addition to the above document colored copies, you can use your camera phone to take color pictures of above docs, then download the pictures from your mobile phone to your PC computer and then upload these pictures from your computer.
Once your online currency broker gets the online trading account opening registration forms plus above documents, your registration application will be processed & you'll be assigned login account number and a log in password for live account.
Once you upload the required supporting documents your trading account will then get to be verified. Your sign-in credentials will be sent to your e mail address. An example of a verified account is displayed & shown below:
This is K.Y.C. - Knowing Your Client, it is more of a legal requirement than just a mere formality, your online broker must follow this policy and try to do everything to know the details of who their client is, in order to ensure that they guard against any money laundering activity.
You then can use your details to sign into your MetaTrader 4 platform and start trading on this verified account. You can also use same login details to login to your client cabin area on broker website. On the my-account area client cabin area you can deposit money, withdraw money and view trading reports of your online broker account.
How to Open an Online Account
To open this account, one has to fill some online forms that are provided by a online broker. The account opening online form can be obtained from your online currency broker.
Process of opening a real account is one which your online broker also will need you to upload the following accompanying document copies:
What Are The Docs Required To Sign Up An Online Account?
1. Proof of ID - Color copy of Identity card or Passport - A color copy of official identification card or valid passport document or other document that is issued by authorities (example. Driver's license, identity card, etc). The identification document have client full names, an issue or an expiry date, the client's place & the date of birth or tax identification number and the client's signature.
2. Proof of Residence - Colored copy of utility bill - Recent dated utility bill (e.g. Electricity, gas, water, phone, oil, Internet &/or pay TV connection, bank account statement) dated within the last 3 months and confirming your registered address.
You can use your mobile phone device to take the photos of these docs & upload them directly from your mobile device(this is the best option when signing up a trading account). Alternatively, use digital camera to take snapshots, upload pictures to your desktop PC then upload saved documents on to your trading account
To Get where to upload these supporting documents search for the option 'Upload Docs'. Please note after registering your account it will not get validated until you have completed uploading these accompanying docs.
Please note if you do not upload the above docs your trading account will not be validated - Make sure you upload the above docs to get your trading account verified. More than 50% of all beginner traders don't succeed in opening their trading account because they fail to upload the required accompanying documents. If you correctly upload all the required accompanying docs then your trading account will be validated & you can start trading with your trading account within five minutes. Take color photo of these two documents with your smart phone & upload these docs directly to your broker website using your phone browser.
Where to Upload Documents on the Account
Once you have filled & Submitted the account registration form that your online broker will have provided you with, you'll get access to the trade cabinet: This will then be your trading account.
The 'Upload Documents' Button then can be accessed from this client cabin area and as a trader you can upload the required supporting documents using this button.
Once you complete uploading the correct docs on 'Account Verification' on your trading account will then reflect as Validated & you then can begin trading on this account.
This process might seem simple but more than 50% of all new beginner traders don't succeed in opening their trading account due to the reason that they fail to upload the required accompanying docs.
Why is a Copy of Identity Card and a Copy of a Utility Bill with My Names Needed?
The docs are needed by your online broker to guard against any money laundry. AML, or Anti-Money Laundry Guidelines and Regulations require that all brokers ask for proof of ID & Residence with your name on so as to verify that you're a resident citizen of the particular country that you claim you are from & also a Copy of a Utility Bill that shows the exact address details where you reside, that way you can not come up with a fake identity or residence address to use for doing money laundering activities.
All regulated brokers must adhere and comply with this requirement prior to opening a account for a new client.
Once your online currency broker gets these online account opening application forms plus above documents, your account registration application will be processed and you'll be assigned login account number and password for live account.
Once your up-loaded docs are validated by your online broker - your trading account will then get to be verified. Your sign-in credentials will be sent to your e mail address. An example of a verified account is displayed & shown below:
This is K.Y.C. - Knowing Your Client, it is more of a legal requirement than just a mere formality, your broker must follow this policy & try to do everything to know the details of who their client is, in order to ensure that they guard against any money laundering activity.
You then can use your details to sign into your MetaTrader 4 platform and start trading on this verified account. You can also use same login details to login to your client cabin area on broker website. On the my-account area client cabin area you can deposit money, withdraw money and view trading reports of your broker account.
Traders Cabinet Area for Making Account Deposits and Withdraws Request
Withdraw and deposit options provided from within the traders cabinet where traders can deposit & make withdraws from the various options provided, for example: Credit Card and Debit Card, Neteller, Skrill, WebMoney, Bank Wire Transfer, MoneyGram & Western Union money transfer methods as shown below.
