Opening a Forex account.

It would seem that it would be easier to register with a pre-selected brokerage company and open a suitable type of account.

But even here, novice traders have a lot of questions, without finding out which they can make mistakes.

Opening a Forex account involves performing certain steps, and it is important to follow their sequence; sometimes it is quite difficult to change something in a trader’s already configured terminal.

Registration.

Everything here is extremely simple and accessible, you need to fill out the specified fields, usually these are:

• Last name, first name, patronymic.
• Year of birth.
• Citizenship
• Address
• Telephone
• E-mail

You should not enter fictitious data, as you will then have to go through documentary confirmation.

It is possible to enter additional data, but usually the ones listed above are sufficient. After registration, you will receive a confirmation code by email or mobile phone, we confirm and you are already registered.

Receiving bonuses.

When registering, you should be extremely careful; some dealing centers provide the opportunity to receive a bonus, but the application is sometimes available only at the time of registration.

Verification.

At the moment, almost all Forex dealing centers require you to undergo Verification, that is, confirm the entered data with documents.

You will be required to upload a scan of your passport, or at least a photo of its main pages.

Essentially, this is a necessary step because you work with money, and this is how the company protects itself from fraud, and provides you with the opportunity to legalize your income.

Opening an account.

The main thing here is to make the right choice depending on the goals you are pursuing; accounts can be of several types:

• Demo - trading exclusively with virtual money, suitable for studying the functions and capabilities of the trading terminal.

• Cent accounts are an excellent option to test the creation of a strategy or developed trading tactics in practice without risking a lot of money.

• Standard - the name speaks for itself, this is a full-fledged account with all the possibilities for making a profit.

• ECN or VIP accounts - as a rule, improved trading conditions, direct access to the foreign exchange market, greater speed of order execution, but the amount of the initial deposit is rarely less than 500-1000 dollars.

During opening, you may be asked to select your leverage size and trading terminal option.

After you have made your choice, you already have a working Forex account and you can proceed to further actions.