To start forex trading you have to open an account after choosing the best broker for forex trading. Registration of forex account with forex broker is easy not difficult but selection of best broker is very important because you will invest your hard earned capital. After finding best broker for forex trading there are three simple steps to register and activate your trading account.
- Select an Account Type
- Account Registration
- Activation of Account
Once again we advise you to open your account carefully choose forex broker that should be full regulated and authorized from well reputed regulatory authority. And broker should be with good reputation and market with great customer support.
Payment method should available for your country and processing of funds deposit and withdraw should be fast with low fee. Here are some common steps to create account with forex broker.
Table of Contents
Account Type and Registration Process
If you are new in forex or you don’t have experience of trading then it is recommended to invest small amount and trying a demo account is better option for you. If you want to register account for forex trading you need to fill the all fields of registration from of your selected broker.
To register account for forex trading you need to fill all information as given below.
First Name – Enter your first name
Last Name – Enter your last name
Address Details – Enter your address details including your street address, city, state and zip code etc.
Country of Residence – Select your country name
Preferred Language – Select your preferred language
Phone Number – Enter your phone number (for contact and account security)
Email Address – Enter your email address (email will use for login to account)
Date of Birth – Enter your date of birth same as printed on your identity card.
Trading Account Details
Platform Type – Select which type of trading platform you want to use (metatrader 4 used commonly).
Account type – Select account type that you want to open (mini account is best if you are investing small amount and ECN account is good if you want to trade in interbank market).
Account Base Currency – Select your base currency (The currency in which you want to invest and withdraw EUR, USD, JPY etc).
Leverage – Select leverage (High leverage might be dangerous for your account; recommended leverage is 1:100 to 1:200 for $1000 account balance).
Some more information about investor is required to fill in the form like range of amount that you want to invest, your investment status, your level of education, your estimated earning, your total net worth etc.
Trading Knowledge and Experience
Professional Experience – You will be asked about your professional experience if you work in financial institute or you have any relevant knowledge.
After that you have to choose option how many trades you have traded in past three years.
Password – Choose a strong password and again in other field to confirm.
At the end read and except terms and conditions of your broker and submit the form that you filled.
After submission of account registration form you will get the screen as shown below.
Now you have to process these steps.
Step 1 – Login to your email where you will find an email from your broker, open it and click on verification link to confirm your email address.
Step 2 – Now you can login to your account using email address and password that you chose for you during account registration.
Activation of Account
After successful registration and login to your account you have to find the option of ‘upload documents’ to validate your account.
As you will open the upload menu option (you can find from account setting area), you will get screen like the one given below.
Step 1 – First upload your identity card, passport or driving license scan copy to verify your identity.
Step 2 – On second step upload your proof of address like any utility bill or bank statement.
Note: Address on document should be same as you entered on account registration form.
In 2 to 3 days your account will get verified depends on your broker. And you can use your account for fund deposit and forex trading.
Login to Metatrader 4
To start trading login account on metatrader 4 terminal using your trading account number, password and server name. These login details you will also get through email from your broker.
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