Forex trading opens the opportunity for anyone to earn huge profits ranging from tens to thousands of US dollars, just by using a laptop or mobile phone online, without the hassle of selling products to potential buyers.
Buy and sell transactions are regulated via online trading platforms such as MT4 or MT5. We only analyze the market, then send instructions so trades are executed automatically. All these facilities can be enjoyed with very low capital and costs.
For traders with busy schedules, automated trading software is a game-changer. It works 24/7, making trades even when the trader is not actively monitoring the market, ensuring they never miss a profitable opportunity.
However, before we start earning from this business, we first need to think about how to create a forex trading account.
The benefit of using a forex AI trading bot lies in its ability to process vast amounts of data quickly, identifying profitable trading opportunities that human traders may overlook.
Basically, forex trading is the activity of buying and selling foreign currencies. However, transactions are carried out online and connected to the global interbank market network, which distinguishes it from currency exchange at Money Changers or ordinary banks.
In forex trading, forex brokers or futures brokers act as intermediaries between us (traders) and the market.
Therefore, choosing the right broker is the first and most important element in the steps of how to create a forex account.
Steps to create a forex trading account
Briefly, how to create a forex trading account from scratch to ready to use can be explained in the following 7 easy steps:
1. Choose a Forex Broker
Ask for the best Forex broker recommendations from the website or from your trusted partner, then visit the Forex broker website.
2. Registration and Confirmation of Account Opening
Click the “Register” or “Open Account” button available on the broker’s website, then fill out the short form provided on the broker’s website. Confirm the email, mobile number, or social media account requested by the broker in the registration procedure. After confirmation, the broker will send a username (ID) and password (password) to log in to the client area via email or mobile number.
3. Verify your forex trading account
Log in to the client area of the broker’s website using the username and password you received. In the client area, look for the option to verify the account. For verification, prepare a photocopy of your identity document (Passport) and proof of domicile. Pay attention to copy the documents as requested by the broker, prepare the documents, then upload them in the space provided.
4. After uploading a copy of the document
the broker will take from 1 second to a maximum of 2 x 24 hours to process the verification. After verification is complete, the broker will send a notification email. If verification is not completed within 2 x 24 hours, please contact Live Chat or Customer Service Broker to speed up processing. Once this step is complete, you can proceed to opening an account and depositing capital.
5. Create a new forex trading account
Log in to the client area of the broker’s website using the username and password you received. Look for the option to open a new account. Click on the option, then fill out the form provided. You will be asked to select the type of forex trading account you want to open, fill in the amount of leverage, type of account currency, and some other details.
After that, you will receive notification of the successful opening of a new forex trading account in the client area and by email. The notice includes a link to download the trading platform, the name or address of the broker’s server, as well as the username and password that will be used to log in to the platform. Write down all the information carefully.
6. Deposit forex trading capital
In the client area, look for deposit options (deposit funds). Arrange capital transfers according to the payment methods and conditions provided by the broker. After the capital enters your forex trading account, you can proceed to the next step.
7. Start Trading Forex Online
Download the trading platform on the link provided by the broker, then install it on your laptop or mobile phone. Log in to the platform using the provided username and password, then you can start trading right away.
Thus a complete review of How to Create a Forex Trading Account. For those who still don’t understand the steps, you can learn more via the link on this blog.
