How to open a real Forex account – Free Training Course in Forex – Lesson 17

Opening an a real Forex account with online broker in order to start trading in actual, includes the following steps:

1.       Choose the broker.

2.       submit form data to the online broker.

3.       determine what type of account between (micro or mini or a standard or businessmen account).

4.       Activate the account to provide national identity papers and bills to prove residence and address.

5.       the signature on a form to join the customers at night Forex trading legitimate request form.

6.       Support Account financially in order to receive information on to the real trading platform.

* Dear novice trader You must learn that you must have an E-mail account and it is preferred  to be one of the three (E-mail on Yahoo or Hotmail or Gmail or other best for you) the e-mail is an essential communication connection between you and broker as well as your mobile phone or telephone.

Complete steps in order to open an account Forex actual:

(1) Choose the broker.

First, in order to choose the best broker offers trading in foreign currencies or in stocks or in the oil market or even in the metals market.

(2) submit form data to the online broker.

Every broker requests from the client to submit real and complete data about himself, such as full name, address, place of residence, date of birth and more details by signing the application forms for opening an account will online or prosecute the claim form printed sent by fax or via e-mail, and this personal data help new trader on the new account opening and protect the company from any money people trying to impersonate trader because it gave all its data to the company's previously secret between him and broker.

(3) determine what type of account between the micro , mini , a standard account or businessmen one.

Accounts are classified into three types according to the applicants request for this account, the account may be:

A) Individual Account: If the owner of the account is one person.

B) joint account: If the account holds only two people.

C) collective account: If the owner of the account is one person or more people have a legally registered company.

And are classified as type of account to the 4 types according to the trades, as shown below:

A) Micro account: the smallest types of trading accounts and provides small amounts of money.

B) a mini account: the account is suitable for traders in medium quantities of money.

C) a standard account: It is suitable for the current account in large amounts of money.

D) the expense of business: is the type intended for adults and, of course, investors have their advantages in everything, whether in trading or in support services or economic consulting but includes commissions and additional banks added to the spread.

The table below shows more information about the types of accounts:

Account Type	Minimum Financing	Leverage Almost	Lot Seize	Point Amount
Micro	$ 50	1: 50	1000 paper	$ 0.10
Mini	$ 250	1: 200	10.000 paper	$ 1
Standard	$ 2000	1: 100	100.000 paper	$ 10
Businessman	$ 25.000	1: 200	100.000 paper	$ 10

(4) Activate the account to provide national identity papers and bills to prove residence and address.

Every broker will ask the new client to submit papers of national identity and identification with the submission of bills in his name include the addresses of housing and residence registered in the identity as it is, so we recommend every trader again when heading to submit its data to the company that provides real data and writes full address as recorded in national identity in order to accept opening the account.

It is possible to a new trader to submit image of national identity with a picture of a gas or electricity bill or water or landline phone or a picture of a modern bank statement issued for no more than 3 months.

these securities are presented to the company via fax or via e-mail and the fastest way is best.

(5) Support Account financially in order to receive information on to the real trading platform.

The last step in opening a new Forex account is the transfer of funds to the broker through the varied means of payment whether a bank transfer or credit card "Visa CAD or MasterCard" or transfer through electronics banks such as Moneybookers or PayPal or conversion through the offices of money transfer instant such as offices of Western Union. 

To transfer the money to the broker , the trader must be communicate with the company or agent and inquire about funding information in accordance with the method favored by, and as it is defined that there is financial expenses for the completion of any money transfer whatever way and these expenses are not to the broker, but to the existing conversion money (usually begins expenses Net $ 10 $ 60 even whether the transfer directly or through a third party).

What about withdrawing of funds ?

Of course we all aim to make a profit , how we get the funds profits !

your account through your broker includes all the profit or loss immediately after closing deals if you want to pull profits , for example, there is a form known as Form withdraw funds, so print this form and complete it and determine the required amount of drag and the way of the withdrawing and all the details and sign it and then re- sent to the broker , whether by fax or via e-mail and the money is transferred within 1 day-to- day work .

Do you want to trading by Hedge and without FIFO system?

We want to alert our dear students who wish to open a New Forex account includes trading on Hedge, that due to the laws of the American NFA that  governing corporate American companies on the date of 7/2009 may have changed on the mechanism of trading in the trading accounts were canceled Hedge on trading accounts in the accounts registered in the United States, for this it is best to open a trading account in the branches of this company in the state because the other account includes full Hedge and without charges, according to the following:

A) customers FXCM America branch can move to FXCM account branch Britain.

B) customers FXSOL America branch can go to the expense of FXSOL branch Britain.

C) customers FXSOL America branch can go to the branch account FXSOL Australia.

Illustration:

* The trading accounts branch in Australia or Britain provides all trading tools in addition to the property of Hedge and property of enter orders profit  limit and losses limit and closing deals in the normal way, if you are interested in this type chose your branch in Britain or Australia, sent a money order for the hand of the company's branch by Headquarters ..

* opening of trading accounts in the branch of America, provides all trading instruments except the property of Hedge and property enter orders profit limit and  losses limit and close deals which first enters first closing (FIFO), if you are interested in this kind open your new account at a branch of America and sent transfer of the financial side of the branch of the American company.

* hedge: two traits is opening and buy one and sell the other at the same time in a single pair.

* FIFO: a special trading system and trading orders that firstly determines which program to enter the trading must be closed firstly order.