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How to open a forex account

  • #1
  • First Post: Oct 18, 2017 1:47am Oct 18, 2017 1:47am
To get an account with a forex broker, it's somewhat similar to opening a financial balance. It requires printed material and personality check and such. The entire procedure takes a couple of days. In any case, in case you're quite recently hoping to try things out, that is significantly less demanding, forex brokers offer demo accounts that you just need to give insignificant data to open. A demo or practice account enables you to get set up and get some work on trading until the point when you're prepared to begin with genuine cash.
  • #2
  • Oct 18, 2017 2:29am Oct 18, 2017 2:29am
Quoting Hugelee
To get an account with a forex broker, it's somewhat similar to opening a financial balance. It requires printed material and personality check and such. The entire procedure takes a couple of days. In any case, in case you're quite recently hoping to try things out, that is significantly less demanding, forex brokers offer demo accounts that you just need to give insignificant data to open. A demo or practice account enables you to get set up and get some work on trading until the point when you're prepared to begin with genuine cash.
I have this feeling that you were trying to reply to someone but instead opened a thread.
  • #3
  • Oct 18, 2017 3:52am Oct 18, 2017 3:52am
Quoting Hugelee
To get an account with a forex broker, it's somewhat similar to opening a financial balance. It requires printed material and personality check and such.
I am intrigued at the personality check.
Gone to a better place
  • #4
  • Oct 18, 2017 1:49pm Oct 18, 2017 1:49pm
Quoting smikester
I am intrigued at the personality check.

So intrigued that it didn't occur to you that "identity check" was clearly the intended meaning? I think you probably know, really, that English isn't everyone's first language.
  • #5
  • Oct 18, 2017 8:16pm Oct 18, 2017 8:16pm
Quoting AntiVi
{quote} I have this feeling that you were trying to reply to someone but instead opened a thread.
I think, he tried to guide new traders on how to open a new account with basic info.
  • #6
  • Oct 19, 2017 5:56am Oct 19, 2017 5:56am
Good advice,
Although it's not recommended to stick to demos for too long.
Demos usually eliminate the emotional side of trading.
It's very important to learn how to control your emotions while trading.
  • #7
  • Oct 23, 2017 4:24am Oct 23, 2017 4:24am
Different brokers have different terms and conditions regarding the opening of live accounts. It's important to make sure that you're dealing with a reputable, well-regulated broker and to make sure to know what all their terms and conditions are before you even try to open an account. Also learn what their terms and conditions are regarding money withdrawals, surprises at any stage of the process are generally extremely unpleasant and extremely unwelcome.
  • #8
  • Oct 25, 2017 11:59pm Oct 25, 2017 11:59pm
Quoting Hugelee
The entire procedure takes a couple of days.
Days?! I believe a lot of brokers can open an account in your name in matter of few hours and this includes the KYC procedure they do.
  • #9
  • Oct 26, 2017 5:10am Oct 26, 2017 5:10am
Quoting UlliC
{quote} Days?! I believe a lot of brokers can open an account in your name in matter of few hours and this includes the KYC procedure they do.
I agree. The only reason I can think of for a broker to take that long is that the client in question sent bad copies of the required documents and there was some back and forth communication going on until the issue was cleared up. That is, of course, if we're talking about legitimate brokers, scammers are an entirely different matter altogether.
  • #10
  • Nov 4, 2017 8:10am Nov 4, 2017 8:10am
I tried opening up a demo account with MT4 app. It worked for a while, then the numbers stopped. It continues to stay still. My problem is learning how to read the charts and figuring out the buttons. Which platform can offer a simple trading software that continues to move?
  • #11
  • Nov 4, 2017 1:11pm Nov 4, 2017 1:11pm
Quoting Desmonx
I tried opening up a demo account with MT4 app. It worked for a while, then the numbers stopped. It continues to stay still. My problem is learning how to read the charts and figuring out the buttons. Which platform can offer a simple trading software that continues to move?
MT4 is the best trading platform in my opinion.
  • #12
  • Last Post: Nov 5, 2017 11:42am Nov 5, 2017 11:42am
Quoting jollypk
{quote} MT4 is the best trading platform in my opinion.
Well why does it stay still? And where can I find source material on how to operate it? I am still figuring out the buttons and what everything means.
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