forex trading It opens opportunities for everyone to earn huge profits ranging from tens of thousands to thousands of US dollars. Just use your laptop or mobile phone online. without the hassle of selling products to potential buyers. Buy and sell transactions are regulated through online trading platforms such as MT4 or MT5. We just do market analysis. Then send instructions to automate the transaction. You can enjoy these facilities with very low capital and cost. however, before starting to make a profit from this business We first need to think about how to create a forex trading account..
Forex trading is generally the activity of buying and selling foreign currency (forex), however, transactions are performed online and connected to a global network of interbank markets. This makes it different from foreign exchange at money changers or banks. We can’t either. play forex by going to the Money Changer or the bank to trade forex Forex brokers or futures brokers act as an intermediary between us (traders) and the market. Therefore, Choosing the right broker is the first and most important element in the process of creating a forex trading account..
Steps to create a forex trading account
In summary, how to create a Forex trading account from zero to ready can be explained in the following 7 easy steps:
- Choosing a Forex Broker: ask best forex broker advice from your trusted website or partner Then go to the forex broker website. Make sure that the forex broker you choose is officially licensed by a real regulatory authority like BAPPEBTI and has an Indonesian language website to provide you with the best service possible. We recommend that you open an account at a local brokerage. OCTA Investama Futures or International HFX Futures.
- Register and confirm account opening: Click the “Register” or “Open an Account” button on the broker’s website. Then fill out a short form. displayed on the broker’s website Perform email verification mobile number or the social media accounts requested by the broker during the registration process. after confirmation The broker will send a username (ID) and password (password) for logging into the Client Area via email or mobile phone number.
- Forex Trading Account Verification: Log in to the Client Area on the broker’s website using the username and password you received. in customer area Look for an option to verify your account (account verification). for checking Please prepare a copy of the identity document. (KTP/SIM/Passport) and a copy of proof of residence (First page of bank passbook/water bill/electricity bill) There are forex brokers asking for scanned copies of documents. But there are also brokers who ask for a copy in the form of a photograph. Pay attention to the copy of the document, such as what the recruiter asked for, prepare the document, and upload it in the space provided.
- After uploading a copy of the document It takes the broker between instant and up to 2×24 hours to process the review. After the inspection is complete The broker will send an email notification. If the review is not completed until 2×24 hours Contact Live Chat or a customer service representative to expedite processing.. After this step is complete You can continue to open an account and deposit funds.
- Create a new forex trading account: Log in to the Client Area on the broker’s website using the username and password you received. Look for the option to open a new account (open a new account). Click Options and then fill out the form provided. You will be asked to select the type of forex trading account you wish to open. Enter the amount of leverage Account currency type and other details. Next, you will be notified that a new forex trading account has been successfully opened in the client area and by email. The notification includes a link to download the trading platform. The name or address of the broker’s server. Username and password that will be used to log into the platform. Carefully write down all the information.
- Deposit forex trading: in the customer area Look for a deposit option. Arrange transfers according to the payment methods and conditions set by the broker. After the funds have been credited to the forex trading account You can proceed to the next step.
- Start Forex Trading Online: Download the trading platform on the link provided by the broker. Then install it on your laptop or mobile. Log in to the platform using the username and password provided. You can then start trading right away.
Also read: The Importance of Money Management (MM) in Forex Trading
It’s easy, isn’t it!? It seems complicated, but it’s actually very quick and easy. If you have prepared copies of the necessary documents and the broker completes the review quickly. The process from start to finish will only take a few hours. in less than a day You are ready to make profits through your new forex trading account.
Frequently Asked Questions About Forex Trading Accounts
as described above The way to create a forex trading account is quite clear and easy. However, there are a few things that beginner traders often ask about this topic. These questions make sense because they are better known in advance than wrongdoing. Let’s look at some more tips together.
- Is creating a forex trading account free or is there a registration fee?
All brokers do not charge a fee for creating a forex trading account. So everything is free and free. You must specify the initial deposit only. The broker only charges you when you start trading on the trading platform.
- What happens if my preferred broker charges a fee for creating a Forex trading account?
If your chosen forex broker is charged an account creation fee. You should leave it Even most real forex brokers do not charge anything. to create an account Therefore, your chosen broker may be suspected of committing fraud (scam) if the broker is not a fraud. You also have many options for other brokers. that can create a new forex trading account for free Better to choose another broker
- The broker I want to provide instant registration through social media. Will it be safe?
Yes, instant registration via social media (Google, Facebook, Twitter, etc.) is quite safe. This option simplifies the process. So you don’t have to fill out too many forms. But you still have to go through verification, verification, etc., but you give the broker access to view the address book. Therefore, your friends may see a broker’s ad. However, a trusted broker will not misuse their address book for promotion. cold callor any invasion of privacy
- How many types of forex trading accounts are there?
when visiting the broker’s website You may get two types of accounts: the demo account (demo account) and real accounts (real account). The demo account is for free practice with no deposit required. On the other hand, a real account is a forex trading account used for real transactions using real funds. Additionally, each broker can offer different types of real accounts. with different properties for beginners You should choose a real account with the lowest minimum capital requirements.
- What is the difference between a demo account (demo account) and a real account (real account)?
as stated above Demo account for simulated trading while real accounts are used for real trading. Both show actual current market conditions. However, you do not need to deposit money to the demo account at all. This is because transactions are made using virtual money provided by the broker free of charge. This type of demo account is suitable for people who are curious and wanting. learn forex trading First. You don’t need to upload verification to create a demo account.