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Opening a Trading Account PDF Print E-mail
In order to open an account with a Forex broker it is very easy and can be done in three simple steps as following:
  1. Select an account type that you are interested to open
  2. Sign up for your account
  3. Activate your account
Before getting into the tryout and spend your hardly earned money into it, you can simply try your broker and its services by opening a demo account there. Moreover, you can open more than one demo account for it is all for free. So, you can try many different brokers to decide which the good one for you is.
  • Account Types
When you feel ready to open a live account , you have the right to choose to open a trading account under your own name. Also you will have the opportunity to decide whether to open mini or standard account. For novices, they prefer to open accounts with small amount of money and they usually choose to trade mini accounts. While for professional traders, they used to trade huge amounts so standard accounts would be better for them.
  • Managed Account
Managed account is an option provided by many Forex brokers in their application. This managed account is good since the broker is trading your account for you. But, it is much better to do it by yourself, for you are here to learn and apply your methods in your trade. Besides, opening a managed account typically requires a pretty big minimum deposit - $25,000 or higher - and the broker also takes a portion of the profits.
  • Signing Up
Each broker has a certain form that must be filled to open your trading account, and it is usually done by submitting paperwork. They are usually provided in PDF format and can be viewed and printed using Adobe Acrobat Reader program.
  • Account Activation
After the broker receives all the necessary paperwork, you will be received an email with all needed instructions to follow in activating your account. After completing these steps, you shall receive the last email including your username and password, and instructions on how to fund your account.
 
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