Opening a Forex account.

It would seem simple: register with a pre-selected brokerage company and open a suitable account type.

But even here, beginning traders face a host of questions, and without clarifying them, they can make mistakes.

Opening a Forex account requires several steps, and it's important to follow them in order. Sometimes, it can be quite difficult to change something in an already configured trading terminal.

Registration.

Everything is extremely simple and accessible here. You only need to fill in the specified fields, usually these are:

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

You should not enter fictitious data, as you will have to undergo documentary confirmation later. It is possible to enter additional data, but usually the above is sufficient.

After registration, you will receive a confirmation code by e-mail 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 verification, that is, to confirm the entered data with documentation.

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

In fact, this is a necessary step, because you are working with money and this is how the company protects itself from fraud, and gives you the opportunity to legalize your income.

Opening an account.

The main thing here is to make the right choice depending on your goals. There are several types of accounts:

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

• Cent accounts - an excellent option to test the creation of a strategy or developed trading tactics in practice without risking large sums 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, high speed of order execution, but the initial deposit amount is rarely less than $500-1000.

When opening, you may be asked to choose the amount of leverage and the type of trading terminal.

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