Trade Forex Trading

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 as a trader can go to an broker website & open one. Once you as a trader go to the broker of your choice and choose this option, you'll then have to fill some online forms, the step-by-step guide of filling in these forms is explained in this article.

With this online account you as a trader can trade the following: FX, Gold, Silver, Oil, CFDs, Futures and Stock Index.

How to Open an Online Account

To signup this live trading account, a trader has to fill some online forms provided for by a online broker. The account signing up online form can be obtained and gotten from your online online 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 ID card or Passport - A colour copy of official ID card or valid passport document or other doc that is issued by authorities (example. Driver's license, identity card, etc). The ID 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 - A Colour copy of a utility bill - Recent dated utility bill (e.g.. Electricity, gas, water, phone, oil, Internet and/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 pictures of these documents and upload them directly from your phone device(this is the best option when registering a trading account). Alternatively, use digital camera to take snap-shots, 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/choice '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 which has 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 and also Copy of a Utility Bill that highlights your current residence location details where you stay, that way you can't 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 signing up a trading account for a new client.

Now once you have scanned or taken images of these account opening forms:

2. Proof of ID - Colour copy of Identity card or Passport

3. Proof of Residence - Color copy of utility bill, electricity bill etc. (bill with recent date, dated within the last 3 months).

Upload above forms in addition to the above document colored copies, you as a trader 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 photos from your Desktop computer.

Once your online currency broker gets the online trading account signing up sign up forms plus the above documents, your registration application will be processed & you'll be assigned sign in trading account number and a log in password for live account.

Once you upload the required supporting documents your trading account then will get to be verified. Your login details will be sent to your E-Mail address. An example of a verified account is displayed & shown below:

This is K.Y.C. - Know Your Customer, it is more of a legal prerequisite requirement than just a formality, your online broker must comply with this policy and try to do everything so as to learn the info of who their customer is, in order and so as to ensure that they guard against any money laundering activity.

You then can use your details to sign in to your MetaTrader 4 platform & start trading on this verified account. You also can use same login details to login to your client cabin area on online broker web site. On the my-account area client cabin area you as a trader can deposit money, withdraw money and view trading reports of your online broker trading account.

How to Open an Online Account

To open this account, a trader has to fill some online forms that are provided by a online broker. The account opening online form can be obtained and gotten from your online currency broker.

Process of opening a real account is one that your online broker also will need you to upload the following accompanying doc copies:

What Are The Docs Required To Sign Up An Online Account?

1. Proof of ID - Colour copy of Identity card or Passport - A color copy of official identification card or valid passport doc or other document that is issued by authorities (example. Driver's license, identity card, etc). The ID 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 - A Colour copy of a utility bill - Recent dated utility bill (e.g. Electricity, gas, water, phone, oil, Internet and/or pay TV connection, bank account statement) dated within the last 3 months and validating 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 snap-shots, 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/choice '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/verified - 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 account because they fail to upload the needed accompanying documents. If you correctly upload all the required accompanying docs then your trading account will be validated & you as a trader can start trading with your trading account within five minutes. Take color photo of these 2 documents with your smart phone & upload these docs directly to your broker website using your phone browser app.

Where to Upload Documents on the Account

Once you have filled & Submitted the trading account opening form that your online broker will have provided you with, you'll get access to the trade transaction cabinet: This will then be your account.

The 'Upload Documents' Button can then be accessed from this client cabin area and as a forex trader you as a trader can upload the needed supporting documents using this button.

Once you complete uploading the correct docs on 'Account Verification' on your trading account then will reflect as Validated & you then can begin trading on this account.

This process might seem like it's simple but more than 50 % of all new beginner traders don't succeed in opening their trading account because of the reason/explanation that they fail to upload the needed 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 and particulars where you reside, that way you as a trader 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 signing up a trading account for a new client.

Once your online currency broker gets these online trading account opening application forms plus the above documents, your account opening application will be processed and you'll be assigned sign in trading account number and password for live account.

Once your up-loaded docs are validated by your online broker - your account then will 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. - Know Your Customer, it is more of a legal prerequisite requirement than just a formality, your broker must comply with this policy & try to do everything so as to know details & particulars of who their client really is, in order and so as to ensure that they guard against any money laundering activity.

You then can use your details to sign in to your MetaTrader 4 platform & start trading on this verified account. You also can use same login details to login to your client cabin area on broker website. On the my-account area client cabin area you as a trader can deposit money, withdraw money and view trading reports of your broker trading 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.

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